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

[twiifm]

...
By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.
...

I'm a big Warren Buffet fan (at least as far as his evolved value-investing approach goes). I've read his annual reports, several bios, watched many of his interviews, etc.

In my "normal" investing (ie, outside the BTC world), I tend to do mostly value investing, except where I have specific domain expertise that I feel gives me an edge.

Like Bitcoin for example. It has been unfortunate that Warren has chosen to comment in a domain in which he has no expertise, being famously and self-admittedly tech-inept, yet he has done so nonetheless, obviously. And, quite frankly, from the tech-illiterate perspective, Bitcoin can be difficult to understand.

Furthermore, Bitcoin is a play on growth, not on unlocking existing value, and is therefore antithetical to Buffet's core investing competencies even without the tech-literacy requirement. So no surprise that he doesn't see it, and hard to give any weight to his opinion in this area, brilliant though he is.

While bitcoin the technology could be difficult to understand to laymen, then bitcoin the currency isn't hard to understand to most.
The majority of coins are held by unknown people, who in all probability, are criminals or amoral people of different kind. Like hackers, con-artists, drug dealers, insider trading exchange owners etc.
Buffets opinion was about the currency, not the technology. And investing in the technology would mean to invest into companies that use the technology for more practical purposes then the current "bitcoin the currency".

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

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[madmat]

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

This is as funny as wrong.

[twiifm]

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

This is as funny as wrong.

Thanks!  Glad I made you laugh

[fonsie]

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

Please leave the internet, you are insulting the same neck beard nerds that invented it. Go play with your man bag and your new eyeliner pencil.

lol

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[macsga]

You don't have understand technology to understand why a currency capped at 21M with half already in the hands of neck beard nerds and come into existence by solving puzzles in big jerry rigged Chinese warehouses is not ever gonna work in the real world.

This is as funny as wrong.

Thanks!  Glad I made you laugh

This is wrong and not funny...
http://www.quickmeme.com/meme/35mfeb/

PS: LambChop? Is twiifm your twin sister?

[supermine]

OK Coin

Similar to what happened when the bear market ended at $65 after the $266 peak...

Nice pics. Nevertheless what we have today is not quite the same if you look closely. Today we are seeing an text-book bear flag (sym triangle with slowing volume) indicating  lower levels in an Wave 4 Elliot Cycle. Sure it could rebounce, but that chance would be 40/60, so my bets are on bear until I see a rounded bottom or similar reversal indication.

[electronistul]

... Today we are seeing an text-book bear flag (sym triangle with slowing volume) indicating  lower levels in an Wave 4 Elliot Cycle. Sure it could rebounce, but that chance would be 40/60, so my bets are on bear until I see a rounded bottom or similar reversal indication.

Based on your triangles closing, I would assume another day (or so) at current levels, followed by large dumps to 170$+ levels. Am I terribly wrong / bear-ish ?

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[ParabellumLite]

Bitfinex

Bitstamp

Explanation

Another fake wall on Bitfinex. Feels familiar to the november/december situation. People are likely to get burned soon.

[fonsie]

Bitfinex

Bitstamp

Explanation

Another fake wall on Bitfinex. Feels familiar to the november/december situation. People are likely to get burned soon.

Trading on feelings, that's how you do it. lol

[EFS]

I was promised a rally  

I'm the rally nazi, no rally for you!

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[fichtn12345]

I was promised a rally  

I'm the rally nazi, no rally for you!

can i haz some? pls

[shmadz]

... Today we are seeing an text-book bear flag (sym triangle with slowing volume) indicating  lower levels in an Wave 4 Elliot Cycle. Sure it could rebounce, but that chance would be 40/60, so my bets are on bear until I see a rounded bottom or similar reversal indication.

Based on your triangles closing, I would assume another day (or so) at current levels, followed by large dumps to 170$+ levels. Am I terribly wrong / bear-ish ?

What I see there, is that the volume increases as the price drops.

Could be an indication that a bottom is being discovered.

Also, volume dropping on price rise leads me to think that many are relatively happy with their current holdings and only looking to accumulate on the dips.

Until there is an influx of new participants that do not already have positions in this market, I do not think price will rise dramatically. If this influx of new blood does indeed happen, I would expect that the long term holders that have been suffering this market will not be willing to give up their coins cheaply.

Personally I think we could see sideways/downward movement for many months to come.

It would be the preferable situation for anyone looking to accumulate more coins.

"As low as possible for as long as possible"

[macsga]

I was promised a rally  

I'm the rally nazi, no rally for you!

can i haz some?

Teh Rayleigh Iz aboot tu Beginz!!!!1

[oda.krell]

...

I still read your main account, you put quite a bit of effort into that one, but your alts go on ignore

[Miz4r]

That bid sum on finex and stamp   Ask side is really thin...

It's the opposite picture on the Chinese exchanges. I think we've been witnessing the flow of coins back from east to west after China went crazy and bought up too many coins in the 2013 bubble. It's also clear to see in here that China is becoming less important and people are looking more at the western exchanges now. Actually it looks more healthy now, more balanced. I still see some downside but this bear is getting very very tired and will go into hibernation soon.

[YourMother]

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I still read your main account, you put quite a bit of effort into that one, but your alts go on ignore

Main account ? Alts ? Huh ?

Fluoride ? Alex Jones ? Aliens built the pyramids ? What are you talking about ? Are you suggesting that i'm NotLambchop ?

-------

I'm using this username since June and besides it i only had my original account, which i didn't wanted to use for bashing shitcoins or for anything that would cause me hurt in the future. Also, unfortunately, i found this thread a little bit too late.

[tarmi]

That bid sum on finex and stamp   Ask side is really thin...

It's the opposite picture on the Chinese exchanges. I think we've been witnessing the flow of coins back from east to west after China went crazy and bought up too many coins in the 2013 bubble. It's also clear to see in here that China is becoming less important and people are looking more at the western exchanges now. Actually it looks more healthy now, more balanced. I still see some downside but this bear is getting very very tired and will go into hibernation soon.

you can watch western exchanges as much as you want, china has the biggest pools and farms now. with lower demand in china and a lot of bagholders, I wonder where those coins are going to go.