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

[gentlemand]

At least we have our nice Hats... oh wait

They'll all go up for sale to pay for Christmas.

[1561474347]

1561474347

[infofront]

Infofront, are you really meriting Eliott Wavers?  It's impossible for them to be correct because so much market activity is simply long and short squeezes.  If they are counting on some random bullshit to happen at X count, but the entire market is on the same side of the trade and long or short there, then the market is going the exact opposite way. 

It kind of falls back to the self fulfilling prophecy narrative that Eliott wave will work if every market maker on the planet uses that instead of something else (lol?).  But counts are also subjective on top of that, making it even worse.  Did I mention the inventor of Eliott wave died broke?

I like to merit TA here. I don't see much of a difference between EW and other analytical methods as far as your criticisms are concerned. If they work at all, none of them work in isolation. Those days died in the 80s.
Anyway, EW is one more tool that puts the past into context, and shows future possibilities.

[TheCactus]

hold me rosewater, I'm scared

I'm a prickly mess. You wouldn't like it.

[bitserve]

No one is fucking buying? No more buy the fucking dip? No more bitcoin on the cheap?

Mmhhhh.....

[turtletime]

Bitcoin Investor

[gentlemand]

No more buy the fucking dip?

At present would you not be buying yourself a fucking instead of a dip?

[Gyrsur]

So Faketoshi (CSW) wants to have back Bitcoin v0.1.0 - what about the price too?

[bitserve]

No more buy the fucking dip?

At present would you not be buying yourself a fucking instead of a dip?

The dips have fucked me instead.

[JayJuanGee]

One question guys.

Craig Wright and billionaire Calvin Ayre keep bragging about those 100+ patents they've got.
They say their Bitcoin SV is going to impose itself not only over the other Bitcoin Cash ABC, but even on Bitcoin (BTC) and that's due to those patents. They basically wanna play the same game huge companies have been successful with (see Mastercard, Apple).
Of course many of us (me included) hate this kind of behaviour, but I'd be interesting to hear your comments about the odds of them somehow making it because of those patents.

Personally, in the facts scenario that you present, there seem to be a few more fundamental important questions beyond whether Craig and Calvin would ultimately be "successful" because that would be a real long game answer - and likely too difficult to answer without knowing interim developments which would seem to be the more important questions at the moment, such as:

1) is what they are saying really true... Do they actually have such patent (and financial backing) ammunition in place?

2)  assuming that 1) above is true, then are they ready, willing and able to play those cards (or just threatening to play them without any ability to follow through, which seems to be a kind of modus operandi of craig),

3) assuming they follow through with 2) above, would their efforts be effective (does bitcoin give a shit).  Maybe some aspects of dumb money cares (and perhaps temporarily) but when it comes down to actual bitcoin dynamics would bitcoin continue to grow in spite of whatever efforts that they attempt to make through various traditional legal institutions, and perhaps their efforts would even have the opposite effect to show that bitcoin does not give a shit

TLDR:  I would have to see some of this play out for a while, before I would take those loonies at their word... and not just short term downward BTC price manipulation that might not last much longer - but might not really be connected in any meaningful way to them, just that BTC price is correcting based on a variety of needs to purge a lot of the dumber money.. which could take a while with so many various shit coins and ICOs still holding some value and still pumping with every little sign of a possible BTC recovery.

[JayJuanGee]

Most important technology since the invention of the internet being worth less in marketcap than Jeff Bezos's wealth, Bill Gates's wealth, even fucking Mark Zuckerberg's wealth lol

It's even lower than Uber in market cap. This shit doesn't even make sense anymore, which means that it has to be the bottom unless there is another level to retardation that I've never seen before

retardation in cryptolandia (which includes bitcoin in this case) seems to NOT have limits.

[gentlemand]

One question guys.

Craig Wright and billionaire Calvin Ayre keep bragging about those 100+ patents they've got.
They say their Bitcoin SV is going to impose itself not only over the other Bitcoin Cash ABC, but even on Bitcoin (BTC) and that's due to those patents. They basically wanna play the same game huge companies have been successful with (see Mastercard, Apple).
Of course many of us (me included) hate this kind of behaviour, but I'd be interesting to hear your comments about the odds of them somehow making it because of those patents.

I truly cannot believe anyone with a sparking cerebral cortex could think centralising and patenting a system that solely drives its value from being beyond that thinks anyone other than themselves would have the slightest interest in it.

Why would you use a hobbled and clunky Craigcoin when you have a perfectly usable Mastercard?

[bones261]

I was just checking online and think that I found a new Lambo that I can afford.


https://erepairables.com/salvage-cars-auction/lamborghini

Bonus: The seller will take Bitcoin.

[goldkingcoiner]

I was just checking online and think that I found a new Lambo that I can afford.


https://erepairables.com/salvage-cars-auction/lamborghini

Buy it while we are still at 4k. Otherwise soon you won't be able to afford even that.

[JayJuanGee]

One question guys.

Craig Wright and billionaire Calvin Ayre keep bragging about those 100+ patents they've got.
They say their Bitcoin SV is going to impose itself not only over the other Bitcoin Cash ABC, but even on Bitcoin (BTC) and that's due to those patents. They basically wanna play the same game huge companies have been successful with (see Mastercard, Apple).
Of course many of us (me included) hate this kind of behaviour, but I'd be interesting to hear your comments about the odds of them somehow making it because of those patents.

Craight Wright is a compulsive liar, he claimed to be satoshi for crying out loud.  Make a transaction from a genesis block or fuck off.

I actually just watched an old interview with Calvin about his gambling businesses and it was fairly interesting. But I despise the gambling industry and their predatory behavior. Calvin has very deep pockets and it wouldn't surprise me if they have some new technology/ideas that could really shake things up.

I don't like Roger that much but I like him more than "doctor" Craig Wright and Calvin.

It seems very difficult for another coin to dethrone bitcoin at this point but it's not impossible.

I agree with everything that you said, except for the bitcoin dethroning part.  Get fucking real.  First of all, a few retard, nutjob conmen, such as Craig and Calvin, and whatever team they have and even throw in roger's team and jihan's team, that is not enough to dethrone, even though their behaviors can disrupt and exacerbate and just assist in shaking out froth and weak hands.

In other words, there is nothing even close to bitcoin currently in terms of network effects, so yeah, just because the price is falling, bitcoin fundaments seem quite strong, and BTC developers and the more true BTC believers (some call them maximalists) are not giving up on their investment(s) of time and money into bitcoin, merely because the price is crashing, again.

[bones261]

I was just checking online and think that I found a new Lambo that I can afford.


https://erepairables.com/salvage-cars-auction/lamborghini

Buy it while we are still at 4k. Otherwise soon you won't be able to afford even that.

Unfortunately, seller has not set a sale date.  

[gembitz]

 
BTC to da moooooon!!!

weeeeeeeeeeeeeeeeeeeeeeeee

[TheCactus]

Ya. Wow

[JayJuanGee]

"#bitcoin's game theory where it's always cheaper to mine honest blocks for rewards instead of 51% attack, only works with rational thinkers...As millions of dollars have been burnt fighting between two forks of a fork of bitcoin have shown. Crazy breaks the checks and balances."

Don't get short term incentives mixed up with long term incentives. 

In other words, bitcoin has so much hashing power thrown at it, that it takes way more money to attack it than to play fairly.

Surely, there could be another test of bitcoin in terms of billions of dollars thrown at a hashing war, but let us see how long such a war would be sustained, if it were to occur, when the users are not going to accept or recognize such.

Similar threats were made in 2017 regarding assertions that mining power rules the bitcoin world, and it seems those assertions were shown to be untrue in actual practice... even if you believe miners are going to gang up or get sufficient mining power to sustain a 51% attack, even for several months, and they threaten to do it, we have to see whether the rubber will actually hit the road and they will do it, and we will have to see if bitcoin users go over to that take over chain.

[bitserve]

"#bitcoin's game theory where it's always cheaper to mine honest blocks for rewards instead of 51% attack, only works with rational thinkers...As millions of dollars have been burnt fighting between two forks of a fork of bitcoin have shown. Crazy breaks the checks and balances."

Don't get short term incentives mixed up with long term incentives.  

In other words, bitcoin has so much hashing power thrown at it, that it takes way more money to attack it than to play fairly.

Surely, there could be another test of bitcoin in terms of billions of dollars thrown at a hashing war, but let us see how long such a war would be sustained, if it were to occur, when the users are not going to accept or recognize such.

Similar threats were made in 2017 regarding assertions that mining power rules the bitcoin world, and it seems those assertions were shown to be untrue in actual practice... even if you believe miners are going to gang up or get sufficient mining power to sustain a 51% attack, even for several months, and they threaten to do it, we have to see whether the rubber will actually hit the road and they will do it, and we will have to see if bitcoin users go over to that take over chain.

The thing is those theories only apply in a certain set of circumstances. For example, it was never intended to apply to minority forks or altcoins using an algo in which Bitcoin is king. All those are completely vulnerable to a 51% attack. They shouldn't even exist but were artificially allowed to because of.... reasons.

51% attacking Bitcoin? Well, you couldn't rent enough hash to do it so it would need to be done by the very same miners that make a living out of it. And yes, for those the rule that attacking it instead of honestly working on it clearly applies.

Current Bcash shenanigans do not contradict, but in fact confirm the theories..... and they haven't even really started attacking each other yet.

[infofront]

Meet the new bottom. Same as the old bottom.