Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[makrospex]

SV have news today, released a roadmap with a promise of up to 6.5 million transactions per second

But why? I'm not even going to consider whether or not they can accomplish that, but why would anyone ever need 100+ times more transactions than Visa processes?

To prove scalability ? Which was a problem for Bitcoin in 2017 (together with rising transaction fees).
This could lead to on-chain scalability solution (128mb) versus off-chain scalability solution (Lightning Network) debate.

This debate already took place around the BCH split / the forming of the movement known as "bigblockers"...
Scalability is not one-dimensional here. Block times, sizes, TX rates and payment channel capabilities are at least the most important factors.
Judged by the view on blockchains or models of forked off bitcoin siblings by their creators, it should be clear that they don't understand much about the underlying technology. Everyone just pushes single aspect of their blockchain features. You can clearly tell a strong ego from that. If the biggerblocker fails, bigblocker is likely bound to fail too. I's consider this as healthy for the crypto business.

[1596541152]

1596541152

[Raja_MBZ]

Looks quite bullish to me:

[mindrust]

Looks quite bullish to me:

If this isn't a double bottom, then I don't know what is.

[empowering]

It doesn't look like much of a double bottom if you look at the daily chart

I'm not convinced by the volume at these levels - not enough of a convincing bounce

Going to test $3150 ish  at least imo maybe not today, maybe not tomorrow.. but I do think we are going to test that region

[Raja_MBZ]

It doesn't look like much of a double bottom if you look at the daily chart

I'm not convinced by the volume at these levels

Going to test $3150 ish  at least imo maybe not today, maybe not tomorrow.. but I do think we are going to test that region

I wasn't referring to double bottom, actually. The support at the range $3450-$3550 looks good with active bulls behind it. It's going to be extremely tough for bears to break it down, IMO.

[TheCactus]

Support will snap like a stale candy cane. Christmas will be a massacre.

 

[bitserve]

Support will snap like a stale candy cane. Christmas will be a massacre.

 

We are already poor, so who cares. In the meantime, I will keep trying to ride from 3500-4000 as many times as I can with the little remaining trading fiat I got left.

You could be doing the same with a small amount even if you want to keep out for the most part. Otherwise this is gonna be a very boring wait for you.

[TheCactus]

Support will snap like a stale candy cane. Christmas will be a massacre.

 

We are already poor, so who cares. In the meantime, I will keep trying to ride from 3500-4000 as many times as I can with the little remaining trading fiat I got left.

You could be doing the same with a small amount even if you want to keep out for the most part. Otherwise this is gonna be a very boring wait for you.

I was never a trader. I think me and Bitcoin are busy saying our goodbyes tbh.

[marcus_of_augustus]

Yep...I went to their github...downloaded their wallet (which only runs on Linux). Far too many dependencies that I did not have to get the thing to compile. Figured I'd wait for someone to come out with one you don't have to compile on a Linux box.

Did Satoshi only run Bitcoin on Linux?

Interestingly enough, satoshi only released/coded the initial versions of bitcoin on windows systems .... it was only later when theymos (or was it martti malmi?) helped him port it to be able to release linux versions. In satoshi's forum comments it's clear he is enjoying learning/tinkering with a modern linux OS only later in 2009, early 2010. He was not obviously a linux guy ... who knows, maybe that was part of the ruse.

[bitserve]

On other news, it looks like both ABC and SV has finally reached an equilibrium in their hashrates where mining their shitchains is slightly more profitable than BTC. Maybe their silly little war is coming to an end.

OTOH, it is very possible that what they are not spending in mining at loss they are spending it in pumping their shitcoins on the exchanges.

[encycrypto]

Support will snap like a stale candy cane. Christmas will be a massacre.

 

We are already poor, so who cares.

Yup, nothing to lose any more as we've lost everything already.

Already receiving messages from my family members, "What's happening to your bitcoin thing? It's crashing daily!"... like I don't know that already.

[El duderino_]

via Imgflip Meme Generatorvia Imgflip Meme Generator

I think the era of a bottom-Double bottom-triple bottom , as single shavings or Double-triple’s are over......
Its the time of going quintippio.... after touching +-15 times we Will find our bottom

[marcus_of_augustus]

Support will snap like a stale candy cane. Christmas will be a massacre.

 

We are already poor, so who cares.

Yup, nothing to lose any more as we've lost everything already.

Already receiving messages from my family members, "What's happening to your bitcoin thing? It's crashing daily!"... like I don't know that already.

yep, they love rubbing it in cause they were envious and felt left behind on the rise .... the best answer at this point is clearly "now is the best time to buy bitcoin!!"

[JayJuanGee]

Great opportunity to increase your (wealth) privacy during this bear market.

At work, going out with friends ore during X-Mass dinner, people laughing at you -Bitcoin crashed hard- tears rolling over their cheeks.

Just say you sold your coin, it was not that much because it was an experiment anyway.

- raise your glass - ''Atleast i can go on free vacation next summer, thx Bitcoin''

Pull up your best poker face. Let them think you aint in the game anymore.

Keep a low profile. The next bull run will be epic.

You have a good point about Opsec, yet your strategy seems much easier said than done.

It may be a lot easier to say that you cut your holdings in half or even by 3/4 than to say that you got out of the game completely.

Personally, I enjoy the topic of bitcoin so much that I want to be considered to be in it, but I have never really wanted anyone except a select few to have much information about my specifics.

However, sometimes, during moments of exuberance, any of us might have had weaknesses to disclose a few more  details than we should have, and in that regard, Paashaas, it could be good to run a bit of a disinformation campaign, as you suggested.

Personally, I am very unlikely to act as such a phoney (or a good OPsec) that I am going to suggest that I am a no coiner, unless I am traveling or something in the company of strangers - otherwise, I feel that my friends and acquaintances are safe enough to understand that I have "some" coins, even though they likely are not going to know with any degree of certainty about my specific holdings and even I don't feel bad allowing them to conclude that I don't have very many coins.   

[TheCactus]

the best answer at this point is clearly "now is the best time to buy bitcoin!!"

Telling your family to buy a crashing asset class that will take years to turn around is not entirely in the Christmas spirit. But it's your call, man.

[El duderino_]

the best answer at this point is clearly "now is the best time to buy bitcoin!!"

Telling your family to buy a crashing asset class that will take years to turn around is not entirely in the Christmas spirit. But it's your call, man.

If it takes YEARS Then just skip the older ones for telling about it.....

[kenzawak]

Apparently, interest for the Swiss ETP seems minimal :

https://www.newsbtc.com/2018/11/26/amun-crypto-etp-launch-sees-minimal-interest-fails-to-curb-bears/

[marcus_of_augustus]

the best answer at this point is clearly "now is the best time to buy bitcoin!!"

Telling your family to buy a crashing asset class that will take years to turn around is not entirely in the Christmas spirit. But it's your call, man.

... it's just the ones sending messages gloating about how much bitcoin is crashing (the part you cut out of the quoted reply), all's fair in family, man.

[d_eddie]

Apparently, interest for the Swiss ETP seems minimal :

https://www.newsbtc.com/2018/11/26/amun-crypto-etp-launch-sees-minimal-interest-fails-to-curb-bears/

And deservedly so.

Do we really need a product (a note, not a fund) that is based on issuer debt? It's not even tracking bitcoin, but rather a mixed basket of crypto. Next up, please...

[empowering]

It doesn't look like much of a double bottom if you look at the daily chart

I'm not convinced by the volume at these levels

Going to test $3150 ish  at least imo maybe not today, maybe not tomorrow.. but I do think we are going to test that region

I wasn't referring to double bottom, actually. The support at the range $3450-$3550 looks good with active bulls behind it. It's going to be extremely tough for bears to break it down, IMO.

Fair play, don't get me wrong I have dipped my toe in for first time in over a year at $3500, but I think we have moar downside n doooooooom coming, and am saving plenty of dry ammo,  like I say volume at this level not convincing me .... and then there is the lack of a distinct bounce. 200 week MA is around $3150, and I think even though we may have a relief rally ultimately I think we will test it at some point over the coming days or weeks, and maybe bounce there at $3150-$3200 ish , and if not then I see a few more weak potential areas of supports in the 2000s though $2800 perhaps, though it would not surprise me at all to see the 2000's melt to at least to $2200 (in the event $3150 or $2800 does not hold I mean)  if that fails holy shit we are going to $1150. Not touching leverage unless we drop into the low $2000s at least or lower. Have bought some at $3500 and if the train leaves without me that's fine. Ultimately I am bearish until we break $5800 with volume, and I do not have appetite to buy above $3500 with the current volume or recent price action/trend.

Just me though