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

[silverfuture]

...
I'm not even a nice guy.  I'm not concerned about teh n00bs, but rather how their goofy self-mutilation affects Bitcoin as a whole, and how this public perception affects the value of my investment.  I don't even particularly care if stupid n00bs lose money, as long as they do it discretely, quietly, not center-stage under the spotlight.

I'm not a moralfag, I'm looking out for myself.  Just like a guy quietly moving serious weight wouldn't let a punkass crack dealer set up on his stoop to push bunk.  Hint: it's not because he's a nice guy worried about crackheads not getting their due bang for the buck.


TL;DR: Enlightened self-interest.
If some noobs get schooled in the process?  Gravy!

Typical trollbear  

Not sure why you keep quoting that.  Yeah, educating you (the [not so] great [but definitely] unwashed) coincides with my self-interest.  You should be dropping to your knees and thanking me.
Why didn't ur moms teach you manners, Bitcoiners?

I keep posting it because it reveals your true objectives and personality, morality or ethics be damned, while you profess everywhere that your scammy behavior is just you trying to uncover scams or pedo or whatever and filling your scuzzy pockets with pocket lint cheap coinz. You are just protecting your "investment" in fiat and the central bank enabling war machines.

What agency do you work for?  

https://www.youtube.com/watch?v=4Qv5PuPtuRA

[empowering]

Looks like some people here still use the fact that bitcoin recovered from a almost complete retrace crash in 2011/2012 when marketcap was more than 100 times smaller than today (and the whole landscape was completely different) as an argument that it will do the same now.

*sigh*

and some people seem to make the argument that it can never retrace to a price, that it was at just a year ago (and pass that even) despite everything that is happening in the space, which is light  years ahead of where it was in 11/12, which they keep trying to say means nothing.

*sigh*

and all the while the truthiest truth is that non of us have a crystal ball....

Light years ahead? What happened? A few big or small merchants and companies "accepting" bitcoin while *NOT* accepting bitcoin? Few exchanges going bust? Plenty of scams that burned a lot of noobs? A few ATMs? The development of potentially better technologies (not talking about shitcoins lol)?
I don't see real improvement.

Also, "light years ahead than 2011/2012", that's the point, you buy for cheap when nobody is talking about it (2011-2012), not when noobs start screaming "moon, guaranteed!" and rambling about bitcoin world domination because "infrastructure". That's when you consider dumping if what you see around doesn't convince you.


I mean read that Fed "bullish on the technology" article and tell me if it's not the most bearish thing ever for bitcoin itself.
What they say it's pretty clear.

I am not here to convince you.

I am not a noob, and I am not talking about "world domination"

However if you cannot see the significance of the developments in the space since 11/12 (which continue as I type) then there is little point in me pointing them out to you, as the situation is self evident in my opinion.




 

[NotLambchop]

...
What agency do you work for?  

...
How is it that EVERY Bitcoiner is both paranoid (thinks that those warning against running with scissors are driven by evol ulterior motives), and deliriously self-important (thinks that IRL people give enough of a fuck about this nickel sideshow to bother with it)?  Paranoid schizophrenia does go hand-in-hand with delusions of grandeur, but you guys all seem to be cast from the same mould...

[RD965]

Since were braking up from here, if bull volume fails were probably ending up in 160$ around double bottom

[ChartBuddy]

Coin
Explanation

[Andre#]

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

If I let my computer get hacked, and the thieves empty my fiat bank account, I'm screwed, too. No difference.

One of my neighbours had her bank card stolen after she went to an ATM. The thieves had seen her typing in her code. She got nothing from the bank.

So if you lose your access credentials, no matter if it's your passord or PIN code, or your private key, you lose your money. A bank only refunds if the bank made a mistake, and the government only refunds if the bank goes bust.

[NotLambchop]

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

If I let my computer get hacked, and the thieves empty my fiat bank account, I'm screwed, too. No difference.

One of my neighbours had her bank card stolen after she went to an ATM. The thieves had seen her typing in her code. She got nothing from the bank.

Sounds like utter bullshit.  What country do you live in?

[LewiesMan]

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

If I let my computer get hacked, and the thieves empty my fiat bank account, I'm screwed, too. No difference.

One of my neighbours had her bank card stolen after she went to an ATM. The thieves had seen her typing in her code. She got nothing from the bank.

Sounds like utter bullshit.  What country do you live in?

Entirely possible even in the US.

[greenlion]

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

I think you have a very curious idea of what insurance actually is, and you're inventing some weird troll-y fiction to support a completely artificial view of insurance.

If the risks can be reasonably quantified through actuarial analysis, there can be insurance. Stolen cars aren't exactly always reversible.

[gentlemand]

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

If I let my computer get hacked, and the thieves empty my fiat bank account, I'm screwed, too. No difference.

One of my neighbours had her bank card stolen after she went to an ATM. The thieves had seen her typing in her code. She got nothing from the bank.

Sounds like utter bullshit.  What country do you live in?

Entirely possible even in the US.

It seems to be pretty discretionary depending on your bank. Some banks are refusing to refund online banking hacks and citing that it's their customer's responsibility to guard their details.

[NotLambchop]

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

If I let my computer get hacked, and the thieves empty my fiat bank account, I'm screwed, too. No difference.

One of my neighbours had her bank card stolen after she went to an ATM. The thieves had seen her typing in her code. She got nothing from the bank.

Sounds like utter bullshit.  What country do you live in?

Entirely possible even in the US.

Really?  I suppose everything's possible, but that's not really how things work.  Heard plenty of "happened to my neighbor" stories, usually turns out 2b bulshit tho.

[Morecoin Freeman]

Since were braking up from here, if bull volume fails were probably ending up in 160$ around double bottom

Explain how? I don't see this as a possibility at all.
If the push is not strong enough at this time more sideways action is more likely than a dump.

The way I read the market there is absolutely no incentive to sell coins below $220.

[damiano]

Since were braking up from here, if bull volume fails were probably ending up in 160$ around double bottom

Explain how? I don't see this as a possibility at all.
If the push is not strong enough at this time more sideways action is more likely than a dump.

The way I read the market there is absolutely no incentive to sell coins below $220.

Sideways action is usually bearish.

[ndnh]

Since were braking up from here, if bull volume fails were probably ending up in 160$ around double bottom

Explain how? I don't see this as a possibility at all.
If the push is not strong enough at this time more sideways action is more likely than a dump.

The way I read the market there is absolutely no incentive to sell coins below $220.

I don't think price is going below $200 any time soon. It is either sideways or up or beyond. 

[oda.krell]

Since were braking up from here, if bull volume fails were probably ending up in 160$ around double bottom

Explain how? I don't see this as a possibility at all.
If the push is not strong enough at this time more sideways action is more likely than a dump.

The way I read the market there is absolutely no incentive to sell coins below $220.

Sideways action is usually bearish.

Depends. Sideways (on falling volume, even) could either lead to a sudden break of resistance like in May, or of support, like in November.





Your guess is as good as mine, although I'm slightly leaning towards upwards, because of the sheer size of the January capitulation.

[Wandererfromthenorth]

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

I think you have a very curious idea of what insurance actually is, and you're inventing some weird troll-y fiction to support a completely artificial view of insurance.

If the risks can be reasonably quantified through actuarial analysis, there can be insurance. Stolen cars aren't exactly always reversible.

Just pointing out that what Coinbase and Circle are currently claiming to have as "insurance" is pointless (and kind of a lie), considering bitcoin and its frictionless nature as money (perfect for scammers/hackers/thieves). Not the same as a bank account.

[empowering]

http://www.coindesk.com/cyberinsurance-pioneer-bitgo-insurance/

Insurance will soon be commonplace, for most/all Bitcoin related business.

Get used to it.

Like Coinbase and Circle pseudo-insurance?

https://bitcointalk.org/index.php?topic=960437.msg10517604#msg10517604

No... like insurance veterans getting into the Bitcoin space and providing insurance.

If I had meant coinbase and circle, I would have posted that. 

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

I know what you meant.

I disagree with the "can probably only be what circle and coinbase are offering"

Hence my post...

I do believe that insurance companies will continue to develop and interact with the ever evolving digital payments space, why would they not? insurance companies are having to constantly adapt. Also maybe they will not cover you if your computer gets hacked, maybe they will eventually, as it is going to become more of a problem in the future, but they almost certainly will provide insurance for accounts held with reputable companies with adequate infrastructure and security that has met their underwriting needs, and protect consumers funds.

I do not pretend to have a crystal ball.

However I do believe that things change, and can change quickly (including the fate of BTC) and the world is going to change immensely in the next 25 years, without a doubt.  Bitcoin may be part of that, and it may not.
Insurance companies will be a part of that, and will adapt to whatever technology throws them (at a service level that we are used to by insurance companies, i.e it works, but they always have the house advantage)

Insurance companies are currently preparing to provide cover to services that do not even exist in the mainstream just yet, or are in the process of being rolled out, apart from anything else, they need to stay relevant, in the light of incoming developments in technology. While insuring various upcoming technologies will earn insurance companies lots of money, some will take profits away from them (driverless cars) so it pays them to adapt and provide their services to the market as it adapts.

Insuring Bitcoin will be no different.


 

[Morecoin Freeman]

Ah cool thanks for your analysis.

(This forum has become much better with Lambchop and NHJT ignored).

[empowering]

What I meant is that "bitcoin insurance" can probably only be what circle and coinbase are offering, basically telling people that "it's all insured" but if your computer/account gets hacked you are screwed and they don't give you a penny.
Considering bitcoin is irreversible and all, good luck with actual consumer protection.

If I let my computer get hacked, and the thieves empty my fiat bank account, I'm screwed, too. No difference.

One of my neighbours had her bank card stolen after she went to an ATM. The thieves had seen her typing in her code. She got nothing from the bank.

Sounds like utter bullshit.  What country do you live in?

I have a friend here in the UK, that used a ATM machine that had a card reader inserted into it (and lost money) she was not covered either.

[NotLambchop]

^Wut