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

[NotLambchop]

Lowest price since stamp reopened.

[jackiedragon]

   come on bitcoin you can do it

Price Down, Pick Up!   https://vid.me/kVhV

[cbeast]

I think the problem with the trolls here is not reading enough Dr. Seuss as children.

[GoWest]

This is the end... grab your ankles and count to ten.

[NotLambchop]

I think the problem with the trolls here is not reading enough Dr. Seuss as children.

Perhaps.  The problem with permabulls is they've never read anything but

[cbeast]

I do not like altcoins and spam.

[roslinpl]

Funny part is that people seems to forgot, that Bitcoin price can double in less than month with not a big problem.

We saw already many rallies. Worrying about low price is just waste of time.

Sit back, relax. get money to buy more BTC. That's all.

[NotLambchop]

I do not like altcoins and spam.

I do not like that S__ _ __.

[podyx]

[Holderbert]

most post-bubble bagholders would sell as soon as they can break even if they could  to get out of this mess

That's actually one of the bigger issues of the near future.

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[Holderbert]

I got another Bitcoin game:
Guess which exchange promised to reopen in 48hrs and didn't.
You have three guesses, Bitcoiners!

http://i62.tinypic.com/rlmb9s.jpg

Make sure you all take 1 each day

^The way to go

[roslinpl]

most post-bubble bagholders would sell as soon as they can break even if they could  to get out of this mess

That's actually one of the bigger issues of the near future.

That's not even a problem.

Let them sell. Others will buy.

I don't see a problem. People are selling Bitcoin every day.
People are buying Bitcoin every day.
People are dumping Bitcoins every day.

And it will be like this till the end of the Bitcoin/World.

[gentlemand]

most post-bubble bagholders would sell as soon as they can break even if they could  to get out of this mess

That's actually one of the bigger issues of the near future.

Depends. If their break even is met during what seems like a price explosion, then they're likely to be caught up in the mania and not sell.

If it grinds slowly up for months then perhaps lots of rises will be dampened by people getting out. There's only so many though.

[Holderbert]

most post-bubble bagholders would sell as soon as they can break even if they could  to get out of this mess

That's actually one of the bigger issues of the near future.

That's not even a problem.

Let them sell. Others will buy.

I don't see a problem. People are selling Bitcoin every day.
People are buying Bitcoin every day.
People are dumping Bitcoins every day.

And it will be like this till the end of the Bitcoin/World.

Well those who would dump them are those would are not actually using the BTC but rather holding them to make profit and therefore don't really help btc grow.

[JorgeStolfi]

Ultimately I think the only way to stop the constant crashing is if the international buyers find enough interest in bitcoin to buy a large chunk of the coins back from China.

Independently of whether the Chinese exchanges are solvent or fake or whatever, I still believe that lots of coins (at least 500 000 BTC, perhaps a couple million) went from "Western" hand to Chinese hands last November.

And I also believe that those coins have been coming back to the West since then (via arbitragers), as the Chinese are gradually losing interest in "bitcoin gambling".  But the Chinese day-traders still have enough coins in the exchanges to set the price.

And I believe that the price has been generally dropping since then (apart from the two mini-bubbles I mentioned earlier) because there aren't enough people in the West willing to buy those coins that the Chinese want to sell -- plus the 3600 coins that are mined each day, plus the unknow number of old cheap coins that early adopters may be cashing out.

This chart shows that each day about 4 million bitcoin-days are destroyed, considering only coins that have not moved in the past year.  That could man people moving 11'000 coins that were not moved for 1 year, or 5500 coins that were not moved by 2 years, etc.  

It is hard to interpret these numbers, because "coins moving" does not mean "coins changing hands".  Even so, it seems quite possible that early adopters are cashing out 1000 BTC/day.  In that case, the people who are starting or increasing their BTC holdings would have to give 270'000 US$/day to those early adopters, in addition to the 1 M US$/day they must give to the miners, in order to maintain the price.

[DaRude]

Hmm i've expected a much higher demand at these levels   seems like no one wants to trade at these prices. Looks like China is dragging everyone down, over 2% spread between Hooboy and Finex. Well the good part is these low prices should fuck up the centralized miners who i'm guessing are behind these daily 2k dumps trying to stay afloat. Free market at it's best

[Wekkel]

The best solution for low prices is low prices. At some point in this decline, demand will pick up. Holding fiat ready...

[podyx]

Few people actually seem to think this is the bottom despite the low prices, that's what leads me to believe we are entering a bullmarket right now. I still think we should have 1 last leg down though

[macsga]

Ultimately I think the only way to stop the constant crashing is if the international buyers find enough interest in bitcoin to buy a large chunk of the coins back from China.

Independently of whether the Chinese exchanges are solvent or fake or whatever, I still believe that lots of coins (at least 500 000 BTC, perhaps a couple million) went from "Western" hand to Chinese hands last November.

And I also believe that those coins have been coming back to the West since then (via arbitragers), as the Chinese are gradually losing interest in "bitcoin gambling".  But the Chinese day-traders still have enough coins in the exchanges to set the price.

And I believe that the price has been generally dropping since then (apart from the two mini-bubbles I mentioned earlier) because there aren't enough people in the West willing to buy those coins that the Chinese want to sell -- plus the 3600 coins that are mined each day, plus the unknow number of old cheap coins that early adopters may be cashing out.

This chart shows that each day about 4 million bitcoin-days are destroyed, considering only coins that have not moved in the past year.  That could man people moving 11'000 coins that were not moved for 1 year, or 5500 coins that were not moved by 2 years, etc.  

It is hard to interpret these numbers, because "coins moving" does not mean "coins changing hands".  Even so, it seems quite possible that early adopters are cashing out 1000 BTC/day.  In that case, the people who are starting or increasing their BTC holdings would have to give 270'000 US$/day to those early adopters, in addition to the 1 M US$/day they must give to the miners, in order to maintain the price.

@JorgeStolfi
Looking on a chart should be according to the respective timescale. Time is of the essence my friend.
I'd propose to take a look here: https://blockchain.info/charts/bitcoin-days-destroyed-min-year?showDataPoints=false&timespan=356days&show_header=true&daysAverageString=7&scale=0

Makes a difference when you look it from different perspective, no?