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

[ShroomsKit]

What's the most bullish thing imaginable? I would like some brainstorming please.

Greece.

Not wishing for it though.

Huh? Why?

Cause it's going to cause misery and strife for a whole lot of people.

I support Bitcoin because I'm hoping we can move away from the systems that cause that kind of thing.

Yes but what does this have to do with Bitcoin. I seriously hope you don't believe that these people then would move to Bitcoin or something.

[aztecminer]

I dont agree with your personal beliefs, so ill call you names and publicly judge you and passive aggressively impose my own world view on you

Yeah, just believe in jesus. He will give you a meal an warm you during the winter.
All hail jesus, the fucker of young boys.

This comment is just ignorant and shows lack of knowledge about what you are so adamantly against. Im sure you form  most of your opinions based on elementary research, and yt videos based on what you just said.

Whatevs

And you on the bible?

Some relevant stuff from the bible. "The king" is in current era the same as the group of government persons: (Samuel 8 )

"10 Samuel told all the words of the Lord to the people who were asking him for a king. 11 He said, “This is what the king who will reign over you will claim as his rights: He will take your sons and make them serve with his chariots and horses, and they will run in front of his chariots. 12 Some he will assign to be commanders of thousands and commanders of fifties, and others to plow his ground and reap his harvest, and still others to make weapons of war and equipment for his chariots. 13 He will take your daughters to be perfumers and cooks and bakers. 14 He will take the best of your fields and vineyards and olive groves and give them to his attendants. 15 He will take a tenth of your grain and of your vintage and give it to his officials and attendants. 16 Your male and female servants and the best of your cattle[c] and donkeys he will take for his own use. 17 He will take a tenth of your flocks, and you yourselves will become his slaves. 18 When that day comes, you will cry out for relief from the king you have chosen, but the Lord will not answer you in that day.”"

Except, bad prediction, the slaves do not cry out for relief, they cry "More, more, hit me more"!

i feel like i am at church now.

[xyzzy099]

If they did that, they would have created Yet Another Alt Coin (which happens very frequently), and it would have no effect on Bitcoin at all.

Yes, I know that bitcoiners have taken solace in that belief, since the 51% risk became real.  Keep believing. 

There is no belief involved.  What constitutes Bitcoin is defined by the consensus of the miners - period.  If a majority of miners were to choose to mine according to a different protocol than what they currently do, that protocol will effectively become Bitcoin.  It has nothing to do with what Gavin or the foundation want.

Yes, and that is what I meant: if someone with billions to spare offered to buy 25 million bitcoins, the protocol would be immediately changed to create them, with the full cooperation of miners AND approval of developers.

Again, I think you are just describing a situation where someone creates an artificial demand to create an alt coin.  Hell, I will personally create you a Bitcoin clone with a 25 million premine if you want to buy all 25 million right now.  I don't know how you will coax miners to continue to mine (i.e. validate) your personal alt coin, though.

[Richy_T]

Yes, and that is what I meant: if someone with billions to spare offered to buy 25 million bitcoins, the protocol would be immediately changed to create them, with the full cooperation of miners AND approval of developers.

I disagree. It would damage the reputation and hence value irreparably. But there's no way to prove either way.

[ShroomsKit]

bitcoinwisdom.com under DDOS attack... This is obvious some big group (bank, goverment) attacking bitcoin, that´s why the price keep digging.

LMAO. I doubt that they need to attack something sooo tiny small. If they wanted to, the only had to blow soft and bitcoin would be done.

Bitcoiners!!  

It's that incredibly overblown sense of self-importance that's almost intrinsic to Bitcoiner brand of manic/paranoid mentality.

Sure, the 9/11 was a terrorist attack, just keep thinking that 

What was it according to you?

[SnokkomBTC]

bitcoinwisdom.com under DDOS attack... This is obvious some big group (bank, goverment) attacking bitcoin, that´s why the price keep digging.

LMAO. I doubt that they need to attack something sooo tiny small. If they wanted to, the only had to blow soft and bitcoin would be done.

Bitcoiners!!  

It's that incredibly overblown sense of self-importance that's almost intrinsic to Bitcoiner brand of manic/paranoid mentality.

Sure, the 9/11 was a terrorist attack, just keep thinking that  

What was it according to you?

Inside Job of course

[Richy_T]

Yes but what does this have to do with Bitcoin. I seriously hope you don't believe that these people then would move to Bitcoin or something.

The question was merely what would be the most bullish for Bitcoin. I believe the collapse of the Greek economy would most definitely be that. I would expect some to move (some of) their money to Bitcoin but the majority movement would be speculators as it was with Cyprus.

[Dump3er]

bitcoinwisdom.com under DDOS attack... This is obvious some big group (bank, goverment) attacking bitcoin, that´s why the price keep digging.

LMAO. I doubt that they need to attack something something sooo tiny small. If they wanted to, the only had to blow soft.

Bitcoiners!!  

10.000 millons without banks and governments it´s tiny?

Its nothing more than a fairy tale of bitcoin cultists and their megalomania, that governments or big banks (or even both) would have any needs to attack bitcoin.

The chinese government only squinted on bitcoin and the chinese started to sell trembling and shitting their pants.

[billyjoeallen]

I'm starting to think the Four Punch Raiders may have lost control of this market. They need to remember the Hustler's Axiom:

You can sheer a sheep many times, but you can skin him only once.

I ain't buyin' another goddam coin to assist in the short squeeze but I'll short like hell after the pop. BUT this time there may not be a short squeeze. I think there is a real possibility that there will be another drop and the FPRs will get long squeezed themselves.

I thought you were buying even if it fell to $10?

I'm long now, but I'm not buying more until the four punch raids stop. This last one was too big. For now I am content with my stash and making money front-running these assholes. To be honest, I simply can't afford to put any additional money at risk.

How many btc do you think it would take to execute one of these four punch raids?

I think relatively few considering the total BTC market cap. It has always been easier to destroy than to create, and with shorting possible, the incentive is there as well. I don't think these are government people or banksters. They are simple profiteers. They combine viral campaigns, trolling and possibly insider information and stolen coins to effectively amplify their impact. It's quite impressive really from a purely amoral strategic point of view.

The short answer: only a few hundred thousand coins.

[RealMalatesta]

bitcoinwisdom.com under DDOS attack... This is obvious some big group (bank, goverment) attacking bitcoin, that´s why the price keep digging.

LMAO. I doubt that they need to attack something sooo tiny small. If they wanted to, the only had to blow soft and bitcoin would be done.

Bitcoiners!!  

It's that incredibly overblown sense of self-importance that's almost intrinsic to Bitcoiner brand of manic/paranoid mentality.

Sure, the 9/11 was a terrorist attack, just keep thinking that  

What was it according to you?

Inside Job of course

tinfoilhat-alarm..-

[coins101]

I know a couple of large miners that are having a real hard time now, unfortunately not only them but many miners are having the "talk" about if they continue mining and cover the lost from their own pockets, or simply shutdown their operations and sell the BTC they are hoarding in case of the price falls further.


I am also curious if Chinese manufacturers will continue inflating the market with their hardware, and at what point it will become unprofitable for them to continue the production.

Good times ahead for Iceland hosted mines and power thieves.

[NotLambchop]

bitcoinwisdom.com under DDOS attack... This is obvious some big group (bank, goverment) attacking bitcoin, that´s why the price keep digging.

LMAO. I doubt that they need to attack something sooo tiny small. If they wanted to, the only had to blow soft and bitcoin would be done.

Bitcoiners!!  

It's that incredibly overblown sense of self-importance that's almost intrinsic to Bitcoiner brand of manic/paranoid mentality.

Sure, the 9/11 was a terrorist attack, just keep thinking that 

And people think Bitcoiners are nutters

[Newbie1022]

Hash rate back up... bring on the dumping!!

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[BTCtrader71]

I'm starting to think the Four Punch Raiders may have lost control of this market. They need to remember the Hustler's Axiom:

You can sheer a sheep many times, but you can skin him only once.

I ain't buyin' another goddam coin to assist in the short squeeze but I'll short like hell after the pop. BUT this time there may not be a short squeeze. I think there is a real possibility that there will be another drop and the FPRs will get long squeezed themselves.

I thought you were buying even if it fell to $10?

I'm long now, but I'm not buying more until the four punch raids stop. This last one was too big. For now I am content with my stash and making money front-running these assholes. To be honest, I simply can't afford to put any additional money at risk.

How many btc do you think it would take to execute one of these four punch raids?

I think relatively few considering the total BTC market cap. It has always been easier to destroy than to create, and with shorting possible, the incentive is there as well. I don't think these are government people or banksters. They are simple profiteers. They combine viral campaigns, trolling and possibly insider information and stolen coins to effectively amplify their impact. It's quite impressive really from a purely amoral strategic point of view.

The short answer: only a few hundred thousand coins.

a few hundred thousand -- that's quite a few coins I think. Unless you mean a few hundred thousand on leverage, which would only require an order of magnitude less in starting capital.

[79b79aa8d5047da6d3XX]

1- offensive for a brazilian to be called argentinian: just a football rivalry joke. please travel more.

2- insult hurling greatly diminishes the value of this thread. if irked by a troll to the point of losing civility, simply put it on ignore.

3- to see long-term potential in bitcoin is to come to the conclusion, already expressed in the original paper, that it is irrational for an actor or cartel to perform a 50.1% attack on the network, as it costs more to successfully carry out the attack than what can be expected to be gained by it.

4- the exception to the above is if the attacker's goal is to undermine the network irrespective of cost. however, the entities capable of doing this do not seem, so far, to consider it to be in their interest. for example, multiple USG agencies have stated their goal not to stifle innovation that stands to benefit/provide redundancies to the US economy in the long run.

[Sitarow]

[jonoiv]

I decided to start trading again after Christmas, after losing my job just before the holiday period, I needed to make some income.  

It was a very very very bad idea.  I got 2 margin calls as I took more and more risks.  My liquidation price started at $70 but soon reached the maintenance after my capitol declined fast.  I had 50% LTC 30% BTC and the rest in $.

The second margin call came today, I kind of thought sub $266 was not going to happen and sub $170 was impossible.  liquidation was $75  
on the second call but as I only had LTC left it halved in value and the liquidation price happened at $169.

The thing is the second margin call was unavoidable.   I tried several times to log into bitfinex but the site appeared down yesterday.  I tried to login a few times but couldn't.  I searched on the forum for anyone posting finex was down, but nothing here or reddit,  It was only after thinking to use a proxy a few hours later that I could reach the site.  

I'm not saying bitfinex temporarily blocked access to my account, but for several hours it was not accessible from my home IP address. This has never happened before.  And after I logged in through a proxy it was soo slow and huge loss anyway so closing the position would have almost been the same as liquidation anyway.  

Im out of the crytpo world now, not in a position to rebuy even half a coin at present, and to be honest I have lost trust in the finex exchange.  

I'm sure some people will want to laugh at me, or point out how funny it is.  But for me it's devastating, good luck to the rest of you, I hope you all get where you need to be and the future is bright for you.

I'm sure i'm not alone in feeling the pain this week.  

Edit:  I was going to buy NuShares 2 weeks ago too.  That's a bitter pill to swallow.  Looks like it's the only thing that came out of the crash with value intact.

 

[ShroomsKit]

Yes but what does this have to do with Bitcoin. I seriously hope you don't believe that these people then would move to Bitcoin or something.

The question was merely what would be the most bullish for Bitcoin. I believe the collapse of the Greek economy would most definitely be that. I would expect some to move (some of) their money to Bitcoin but the majority movement would be speculators as it was with Cyprus.

I never seen any evidence that Cyprus was the reason for Bitcoin to go up even 1 dollar.
And nobody in Greece is stupid enough to put their money in a highly volatile hard to use currency that has been going down for a year.

[600watt]

what is really weird is that there were all those reasons why bitcoin would fail (51% attack, getting outlawed, major bug, blocksize, altcoin competition, no mainstream company would take it serious, and on and on and on...

instead we got no attack at all, government regulation, microsoft/Dell/expedia, and so forth and much more... but the price collapsed and the sentiment is as if bitcoin is going to hell.