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

[tarmi]

Western exchanges seem willing to crash again, but China not yet. Interesting, if the opportunity to crash will be missed, we may go up.

I think it's to late.  If we were going to crash it should if happened already.  Markets usually do the opposite of what people expect, so I would t be surprised if we go up from here taking 258-260.  A weekend crash from there is more likely.

sounds like a plan.

everybody just buy. those longs need you.

Let me ask you this, are you shorting here at these levels, or are you waiting for a higher entry point?

already did yesterday at 255. not a big position though.

Bitfinex?

yes.

and I will add more to it if we get close.

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[SkyValeey]

New bulltrap. Please open more longs.

[SilenceOfTheLamb]

Ok, I see what you mean with ez. Ignore.

Fun fact:  Persistence of objects is a learned thing.
If baby's toy is covered with a blanket, baby won't try to get it, thinking the toy no longer exists.  Vanished, *p00f!*
Ignore button works similarly for Bitcoiners--tragic, painful facts vanish if they're ignored

[tarmi]

and bulls...I would be seriously worried about those coins exiting darkcoin or whatever its name is now.

mixing is done. if monero is crashing too...well...evo coins incoming.

and those high interest rates for usd swaps arent helping neither.

[tarmi]

New bulltrap. Please open more longs.

just a bounce from the support level. the bull trap starts at 250+ levels.

[Sitarow]

10:58AM EST

[Fatman3001]

Western exchanges seem willing to crash again, but China not yet. Interesting, if the opportunity to crash will be missed, we may go up.

Ffffffffgggggfffffnnææøæhhh

me too.

then I see some buying going on and I am like...they are not really buying because this guy said we could go up?

Way to go keepin it real! Buddying up with sockpuppets to mock Tzupy. Lol

[ChartBuddy]

Coin
Explanation

[nioc]

and bulls...I would be seriously worried about those coins exiting darkcoin or whatever its name is now.

mixing is done. if monero is crashing too...well...evo coins incoming.

and those high interest rates for usd swaps arent helping neither.

The total trading volume for dark/dash for the last 7 days is ~10K btc and for Monero it's ~1,400 btc

Doesn't seem to me that this volume indicates evo coin washing.

The recent increase in price and volume of drk/dash does have some correlation with evo while for Monero it does not.

[billyjoeallen]

I just had an idea about how to explain bitcoin: A bitcoin is real estate on the most secure public ledger in the world. Bitcoins are similar to land in that that the total amount is fixed. How much real estate? 1/21 millionth.

That is a very good analogy, except that there is no real land. 

A bitcoin is a bearer certificate of property of some fixed number of square miles of real estate on Tatooine.  Other altcoins are certificates of real estate on other imaginary planets.

The value of bitcoins is supposed to come from its hard-to-forge public land registry, where record of possession of one of those imaginary plots can be easily transferred to another person only with knowledge of the private key of its current possessor, without the need for a trusted intermediary etc.

Not any more imaginary than fiat, Prof. And time stamps have a value all their own.

[ChartBuddy]

Coin
Explanation

[NotHatinJustTrollin]

A bitcoin is a bearer certificate of property of some fixed number of square miles of real estate on Tatooine. 

Not on Tatooine.
On Alderaan.

We know what happened to Alderaan:

[adamstgBit]

I just had an idea about how to explain bitcoin: A bitcoin is real estate on the most secure public ledger in the world. Bitcoins are similar to land in that that the total amount is fixed. How much real estate? 1/21 millionth.

That is a very good analogy, except that there is no real land. 

A bitcoin is a bearer certificate of property of some fixed number of square miles of real estate on Tatooine.  Other altcoins are certificates of real estate on other imaginary planets.

The value of bitcoins is supposed to come from its hard-to-forge public land registry, where record of possession of one of those imaginary plots can be easily transferred to another person only with knowledge of the private key of its current possessor, without the need for a trusted intermediary etc.

Not any more imaginary than fiat, Prof. And time stamps have a value all their own.

fiat is more imaginary and its value is harder to understand, it's an IOU to an imaginary and limitless resource.

[BitChick]

I just had an idea about how to explain bitcoin: A bitcoin is real estate on the most secure public ledger in the world. Bitcoins are similar to land in that that the total amount is fixed. How much real estate? 1/21 millionth.

That is a very good analogy, except that there is no real land.  

A bitcoin is a bearer certificate of property of some fixed number of square miles of real estate on Tatooine.  Other altcoins are certificates of real estate on other imaginary planets.

The value of bitcoins is supposed to come from its hard-to-forge public land registry, where record of possession of one of those imaginary plots can be easily transferred to another person only with knowledge of the private key of its current possessor, without the need for a trusted intermediary etc.

Not any more imaginary than fiat, Prof. And time stamps have a value all their own.

fiat is more imaginary and its value is harder to understand, it's an IOU to an imaginary and limitless resource.

As for the "real estate" analogy, I used to work as a real estate agent and I noticed that the same type of people that are willing to purchase and use Bitcoin are the same people that are more visionary when shopping for homes.  Some clients that I have had will walk into a house and if it isn't exactly what they think it should be, even to the furniture (which isn't even sold with the house) to the color of the walls they won't even give the house a chance.  Others can walk into an empty house, or even a house that is in need of some improvements and realize that the house is in a fantastic location with huge potential and is a steal at the price it is.  These are the people that get the best value for their money.  

As early investors in BTC we are the more visionary types.  We have seen the "empty house" so to speak and realize that once the furniture is in place and the walls are painted nicely it going to be an amazing investment!    

It takes a while to fix up a house though unfortunately. 

[trotter55]

and bulls...I would be seriously worried about those coins exiting darkcoin or whatever its name is now.

mixing is done. if monero is crashing too...well...evo coins incoming.

and those high interest rates for usd swaps arent helping neither.

The total trading volume for dark/dash for the last 7 days is ~10K btc and for Monero it's ~1,400 btc

Doesn't seem to me that this volume indicates evo coin washing.

The recent increase in price and volume of drk/dash does have some correlation with evo while for Monero it does not.

I think you can trade drk/dash on bitfinex, but not monero. There's more money on bitfinex than the alt exchange, which might explain it.

[SilenceOfTheLamb]

...I noticed that the same type of people that are willing to purchase and use Bitcoin are the same people that are more visionary...

While we're on the subject of visionaries and their mental illnesses visions, how's your mentor Reptilia doing?  Haven't heard much from him lately, still holding your hand through the tough times is he?

[nioc]

and bulls...I would be seriously worried about those coins exiting darkcoin or whatever its name is now.

mixing is done. if monero is crashing too...well...evo coins incoming.

and those high interest rates for usd swaps arent helping neither.

The total trading volume for dark/dash for the last 7 days is ~10K btc and for Monero it's ~1,400 btc

Doesn't seem to me that this volume indicates evo coin washing.

The recent increase in price and volume of drk/dash does have some correlation with evo while for Monero it does not.

I think you can trade drk/dash on bitfinex, but not monero. There's more money on bitfinex than the alt exchange, which might explain it.

That is correct but the #1 exchange for drk/dash is cryptsy, which would be more aptly named craptsy, and their volume for drk/dash is 4x that of bitfinex.

That makes it seem even less likely that evo coins are being washed as tarmi had eluded to.  If it is happening it is on a small scale.

[empowering]

Subpar DOOOOM.

[ChartBuddy]

Coin
Explanation

[bclcjunkie]

meanwhile it'll be interesting to observe how the early BIT bag holders will react once the market is up for trading... I'm sure Grayscale has some tricks up their sleeves and will do their best to prop up the market after all their disclaimer already covers them in case of lawsuits...

here're a few from their disclaimer:

http://www.bitcointrust.co/

The BIT and its managers or advisors may rely on the trading expertise and experience of third-party managers or advisors, the identity of which may not be fully disclosed to investors. subtle pumps...? well locking in a bagholder for a year and make him pay for that seems like a good deal...

The BIT’s fees and expenses−which may be substantial regardless of any positive return− will offset the BIT’s trading profits. oops the only loser here is BIT investor

The BIT and its managers/advisors may be subject to various conflicts of interest. didn't see that one coming right?