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

[CryptoMinter]

Litecoins are interesting.  Do you guys think it will ever catch up anywhere close to where bitcoin is though?  I was thinking, is it even worthwhile to mine litecoins with a normal gpu?

The ROI on a 7950 is around 1 month with residual value considered at 11c/kWh. If the price halves to around $4 again, expect 2-3 months.

[1714675512]

1714675512

[Vycid]

So what's the thinking right now? Have we changed regimes and departed permanently from the long-term trend, or is this latest uptrend just dragging out the inevitable bubble pop?

Those of you in the "bubble" camp, what's your price target?

[chriswilmer]

So what's the thinking right now? Have we changed regimes and departed permanently from the long-term trend, or is this latest uptrend just dragging out the inevitable bubble pop?

Those of you in the "bubble" camp, what's your price target?

Heh, well, this didn't turn out to be the damped oscillation we thought it would be

[tomjo7]

$800 in the next few hours? Just spiked to $775.

[mccorvic]

Litecoins are interesting.  Do you guys think it will ever catch up anywhere close to where bitcoin is though?  I was thinking, is it even worthwhile to mine litecoins with a normal gpu?

Absolutely not.  Just spend whatever money/effort you have to spend on coinage and go straight to bitcoin.

[MickeyT2008]

Litecoins are interesting.  Do you guys think it will ever catch up anywhere close to where bitcoin is though?  I was thinking, is it even worthwhile to mine litecoins with a normal gpu?

Absolutely not.  Just spend whatever money/effort you have to spend on coinage and go straight to bitcoin.

If you already own the GPU and it's winter so the waste heat isn't actually waste because you want it then it's worth it, otherwise you can end up paying more for electricity than you earn.  However, if LTC prices continue to climb then that could improve things.  It's also worth looking at other coins as sometimes they're more profitable, the profitability is compared here: http://www.coinwarz.com/cryptocurrency

[chriswilmer]

So what's the thinking right now? Have we changed regimes and departed permanently from the long-term trend, or is this latest uptrend just dragging out the inevitable bubble pop?

Those of you in the "bubble" camp, what's your price target?

Heh, well, this didn't turn out to be the damped oscillation we thought it would be

In all seriousness though, I didn't think this "crash" would survive very long because of all the new money that was bound to come in over the next week or two. Maybe the current price rise is partly based on the anticipation of that.

I never really bought the exponential trendline argument for Bitcoin's price anyway... I think if an investor has deep pockets, patience, and is confident that bitcoins will go to $100,000+ USD in 5+ years then he/she would buy at any price reasonably far below that value (e.g., $25,000 would still give a high rate of return if $100,000 was reached 5 years after the fact) and then just wait for the infrastructure to catch up.

[EasyQuest]

Litecoins are interesting.  Do you guys think it will ever catch up anywhere close to where bitcoin is though?  I was thinking, is it even worthwhile to mine litecoins with a normal gpu?

Absolutely not.  Just spend whatever money/effort you have to spend on coinage and go straight to bitcoin.

If you already own the GPU and it's winter so the waste heat isn't actually waste because you want it then it's worth it

I can agree I use my two 5850 to heat my room, and keep the room nice and warm as I sleep. They are quiet as well so sleeping while making money is a plus.

[Rampion]

$750 (Stamp) getting closer. It could be a nice battle, bears seem to have more ammo in the frontlines

[chriswilmer]

$750 (Stamp) getting closer. It could be a nice battle, bears seem to have more ammo in the frontlines

I think if we break the ATH on bitstamp ($755), that would be pretty crazy. You might get a lot of people saying "it's different this time" and really believing it.

[dani]

is it time yet to post these things again?  

choo choo MF

[micalith]

$750 (Stamp) getting closer. It could be a nice battle, bears seem to have more ammo in the frontlines

I think if we break the ATH on bitstamp ($755), that would be pretty crazy. You might get a lot of people saying "it's different this time" and really believing it.

IMO craziness starts when the btcchina wall at 5000 falls

[tomjo7]

$750 (Stamp) getting closer. It could be a nice battle, bears seem to have more ammo in the frontlines

I think if we break the ATH on bitstamp ($755), that would be pretty crazy. You might get a lot of people saying "it's different this time" and really believing it.

IMO craziness starts when the btcchina wall at 5000 falls

Not far off now... Can you imagine the media frenzy when we hit $1000?

[tHash]

$750 (Stamp) getting closer. It could be a nice battle, bears seem to have more ammo in the frontlines

I think if we break the ATH on bitstamp ($755), that would be pretty crazy. You might get a lot of people saying "it's different this time" and really believing it.

Anyone who ever though it was not different this time is missing some critical thinking skills.

[Vycid]

So what's the thinking right now? Have we changed regimes and departed permanently from the long-term trend, or is this latest uptrend just dragging out the inevitable bubble pop?

Those of you in the "bubble" camp, what's your price target?

Heh, well, this didn't turn out to be the damped oscillation we thought it would be

No it did not.  

I lost coins making what appeared at the time to be no-brainer trades... I think I'm a buy-and-hold type from now on. So it goes.

[ardana123]

So what's the thinking right now? Have we changed regimes and departed permanently from the long-term trend, or is this latest uptrend just dragging out the inevitable bubble pop?

Those of you in the "bubble" camp, what's your price target?

IMO the people who wanted to take profits or cash out during the run up to 900 already did causing the correction (or crash if you will). The fact that it didn't crash completely shows there are a lot of people in it for the long haul. Now we need fresh money to come in so we can work on getting to 1000$. One should also expect a massive correction at this point since this will be the magical number for a lot of people to cash out for good.

[YoYa]

786 resistance?



Will probably break it, but something to be aware of.

[Vycid]

So what's the thinking right now? Have we changed regimes and departed permanently from the long-term trend, or is this latest uptrend just dragging out the inevitable bubble pop?

Those of you in the "bubble" camp, what's your price target?

IMO the people who wanted to take profits or cash out during the run up to 900 already did causing the correction (or crash if you will). The fact that it didn't crash completely shows there are a lot of people in it for the long haul. Now we need fresh money to come in so we can work on getting to 1000$. One should also expect a massive correction at this point since this will be the magical number for a lot of people to cash out for good.

Weren't you extremely bearish, like, a day ago?

[mvidetto]

I don't see a scenario where bitcoin doesn't crash hard.  It just seems like everyone is speculating on it and once the bears start dumping we'll see $300 regularly again.

[ChartBuddy]