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

[PeterB]

ETA to next major rally? 

[marcus_of_augustus]

trolls are probably crooked federal agents on crack ... the only dump they'll be getting is laundered cash in their cayman accounts.

[aminorex]

ETA to next major rally? 

It started in mid-January.

[Cconvert2G36]

Accept no substitutes. (Especially ones that pass through bank wires from beanie exchanges.)

[Chef Ramsay]

I never saw BTC as a way to buy stuff, but more as a holding.

I see it currently more as a transfer tool.

My observation supports this. When I go to use the BTC ATM at Decentral, I see mainly 30-something white male stereotypical Bitcoiners sitting at their laptops contrasted with a mishmash of visible minorities waiting to use the ATM, many of them with heavy accents, some seeking help from the receptionist as they seem new to Bitcoin.

My guess is that many are buying bitcoins to send home to their families in their native countries.

If Paypal accepted Bitcoin as a method of deposit, I'd use it regularly. Waiting a week to transfer funds from my bank to my Paypal account has been a deal-breaker on many Ebay bargains for me. Waiting about an hour for a half dozen confirmations of a Bitcoin deposit is no big thing.

Some day Bitcoin may become a currency of everyday commerce but it's already useful as a cheap and fast way to send money (especially smaller amounts) internationally.

My guess is that the people you're talking about are Asians sending money back home if, in fact, that's their motive. I've only been to Toronto once and that was to see the Phantom of the Opera back in '94 when I was a dumpling. Anything else we need to know?

[Chef Ramsay]

ETA to next major rally? 

It started in mid-January.

That was the most Boss statement I've seen in recent times. Kookies to you and a pack of cigarettes plus a shot of rum.

[cmacwiz]

Hello gentlemen, we're new and are real interested in purchasing a few of your new world reserve currencies!  We got money, and can get more, too!
Have we come to the right place?

Weirdest boner I've had since watching 2 dragonflies copulate

[Cconvert2G36]

Weirdest boner I've had since watching 2 dragonflies copulate

[PeterB]

ETA to next major rally? 

It started in mid-January.

lol 

[JimboToronto]

...a mishmash of visible minorities waiting to use the ATM, many of them with heavy accents, some seeking help from the receptionist as they seem new to Bitcoin.

My guess is that many are buying bitcoins to send home to their families in their native countries.

My guess is that the people you're talking about are Asians sending money back home if, in fact, that's their motive. ...

Actually, I saw more black people with African accents than south or east Asians.

Toronto is very multicultural, a city of immigrants. Traditional white anglophone natives have been the minority for years.

We're more of a mosaic than a melting pot.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[ACAB]

Not expecting rally in 2 months. Stable prices go on.

[Lituation]

ETA to next major rally? 

It started in mid-January.

lol 

I missed it then?

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

Question: why would bear trolls be talking down the price if they still had coins to unload? They wouldn't. They would want to sell them at the highest price possible prior to the dump. Game theory would suggest their motivation is either to buy at a lower price or to cover shorts at a lower price (pretty much the same thing). The indication is that the trolls or who they represent are running out of coins to sell if they aren't out already.

The explanation that they are genuinely concerned about the welfare of "bagholders" doesn't really pass the sniff test. None of their other actions indicate that this is the case.

ALL profitable traders, whether bull or bear, help reduce volatility. A less volatile commodity is ultimately more useful and more likely to be successful. Over time, smart traders will become richer and therefor more influential while dumb traders will become less so. This process may become dwarfed by the force of new dumb traders entering the market faster than the aforementioned wealth transfer takes place, but that would suggest volatility primarily in the UPWARDS direction. Few noob traders know how to profit from a bear market or even that it is possible.

It is likely that price over time will climb, although the rate and consistency of that climb is unknown and probably unknowable. Volatility will only continue as long as there are new entrants and/or existing bad traders with money left to lose. That means we will have volatility for a long time, but it will gradually diminish, which is in fact what we are seeing.

Through it all, Bitcoin blockchain continues to be by far the most secure public ledger in the world. I see no reason to pessimistic about long term prospects, regardless of short term price drops, small and decreasing dumps and trolling by sock puppets.

[Cconvert2G36]

Bid book on finex is looking very healthy. Selling volume is weak in the face of little slippage. Forecast looks like up.

[empowering]

[NotHatinJustTrollin]

@VitalikButerin: BTW despite my increasing agreement with "blockchain tech cool, currency meh", reminder that I still believe this:

http://imgur.com/6E3jMpL

He estimates a probability of that happening is 5% as shown.

He doesn't think that will happen. It's more as "why not thing". It says that in the video.



Look he already dumped most of his Ether IPO BTCs  

[micky123]

...a mishmash of visible minorities waiting to use the ATM, many of them with heavy accents, some seeking help from the receptionist as they seem new to Bitcoin.

My guess is that many are buying bitcoins to send home to their families in their native countries.

My guess is that the people you're talking about are Asians sending money back home if, in fact, that's their motive. ...

Actually, I saw more black people with African accents than south or east Asians.

Toronto is very multicultural, a city of immigrants. Traditional white anglophone natives have been the minority for years.

We're more of a mosaic than a melting pot.

Wow,

This just lit up a thought in my mind. People who remit bitcoin from the US /UK or Canada would buy BTC at the prevailing market rates at the ATM (I assume this, maybe use one of the major exchanges as a benchmark), the moment they remit this money in BTC to folks in India or Asian countries, we do not have an atm / money exchanger who would immediately convert BTC to Fiat. Hence we put the coins up on LocalBitcoins AT A PREMIUM to market rates. This is a great income opportunity if the ones receiving the money do not need it immediately, they can put the coins up at a premium on LB and that way gain even more value for the remittance. I am sure people have already thought of this method and are milking it!