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

[ThatDGuy]

Yikes

[JayJuanGee]

All done at 225?  Hobble along here for a while, I think.

In the last few months, I have been having some difficulties understanding the recent BTC price performance, especially being stuck int he $200s price range... and I really do NOT understand the current price drop... Can anyone (like a NON-troll) give some reasonable explanation for this situation?

I'm thinking that a decent price stability point would be well above $700... .. but I seem to be off by at least a factor of three (and even more)... Wowza...

[fonsie]

I'm still not impressed, by this low volume dump, please dump on high volume to 10$ as promised please.

[Fatman3001]

so this is it this is how the story ends, 2.5K BTC is hodling back extreme DOOM for the moment, soon it will be pulverized and DOOM will follow, oh look wall gone DOOM is here, its been fun guys, i must go now.

Saving that gif. Looks like I might need it soon.

[dakota neat]

^ take your meds, it's getting pathetic

[Fatman3001]

[EpStROM]

Dear satoshi save us from DOOOOOOM

[micalith]

All done at 225?  Hobble along here for a while, I think.

In the last few months, I have been having some difficulties understanding the recent BTC price performance, especially being stuck int he $200s price range... and I really do NOT understand the current price drop... Can anyone (like a NON-troll) give some reasonable explanation for this situation?

I'm thinking that a decent price stability point would be well above $700... .. but I seem to be off by at least a factor of three (and even more)... Wowza...

I'm pretty sure it's just the same thing as for the last few months, a heavy bear market. Whether due to retailers accepting bitcoin and converting it into fiat, manipulation, miners, hacked bitcoin sells, or a combination of all the above, not enough has yet changed to reverse the trend. It's changing for sure, but fairly gradually.

[JorgeStolfi]

what is the bad news?

Maybe one of these:

Bruce Fenton new Exec Director of the Shrem Karpelès & Friends Foundation:
https://blog.bitcoinfoundation.org/the-bitcoin-foundation-welcomes-bruce-fenton-as-executive-director/

Bitcoin Baron arrested for hacking:
http://www.komu.com/news/man-who-claims-he-hacked-columbia-komu-websites-jailed-in-az/

 

[ChartBuddy]

Coin
Explanation

[Fatman3001]

Just 2000 coins before we go below 230

8600 coins before sub 200.

One click of the mouse, and king bearwhale can throw bitcoin into oblivion.

^

You thought the price would go down after 16 months of down.You must be Nostradamus.

[lemmyK]

http://www.coindesk.com/price/


    225......

[trotter55]

Why no weekend pump? Will we not have a mid week dump either?

Bears seem to stop selling around this price almost every time.

This week will be interesting.... or painfully flat.

There is sometimes a late Sunday dump.

The late Sunday dump was so late it happened on Monday!

[fonsie]

Let's all party like it's 1999 and sing "kumbaya my lord" while playing with Beanie Babies (If they are ready to share), just to please our beloved trolls who are all hiding behind "This user is currently ignored.".

[nioc]

They say if you predict that tomorrow's weather is the same as today's you will be correct more often than the weatherman.

I still could not help myself and bought a small amount @225.

[oda.krell]

Lots of talk from bears who are also losing money on their leveraged positions every day. I say talk because you have already sold or shorted - all you can do is yap or buy the price higher if the market turns.

Waiting for someone else to sell the price lower for you because line on a chart points down. Worked in 2011, right Xiao?

But it's not just a "line on a chart that points down" though.

It's bid sum still being ridiculously low (and still decreasing, while at the end of the 2013 bear market bid sum went nuts, and price clearly followed for example), it's decreasing volume on all exchanges since January (again, after a real capitulation like in 2013, the recovery should be panic buying on progressively increasing volume), the fact that the actual volume on the $150 bottom wasn't all that amazing (on chinese exchanges they are almost a standard volume bar), the fact that overall volume measured in USD in lower than in the 300-400 area especially on chinese exchanges, EW analysis, value of daily mined coins, short term (and also long term) support trend lines broken, recent weak price action etc.

And these are just the technicals.

You seem to have a particular liking for the mythical bidsum without coming clean that the visible order books are a mirage..

I have asked you before but you ignored it.

How much fiat is sat on the exchanges or in hidden bid orders?

And yes technicals are simply 'line on a chart points down or up' however you want to dress it up!

Painting the dance between the longs and shorts as being won currently by shorts is a little silly, lots more money backing the long position, and only a little more and shorts will cover - retail is shorting bitcoin right now, whilst real whales accumulate.

Not necessarily disagreeing with your broader point, but by my experience bid/ask time series on, say, BS and BF is not entirely uninformative, at least as a short-to-mid term predictor.

[Fatman3001]

leveraged long at 225. another dump unlikely.

Primarily the same definition as "lol", but simply for people who want to be different, and original.
Rowan: Hey, Douglas, Jack got run over today.

Douglas: lel

Rowan: Omg, Douglas, he's in a serious condition! He could die!

Douglas: lel

How douchebags say "lol"; similar to "lolz" or "lawl", but with a greater amount of douchebaggery.
Person 1: *says something funny*
Person 2: LOL
Person 3: LEL

Person 1: wtf o.O?
Person 2: Oh, don't mind him. He's just a douchebag.

http://www.urbandictionary.com/define.php?term=Lel

[uhoh]

what is the bad news?

Maybe one of these:

Bruce Fenton new Exec Director of the Shrem Karpelès & Friends Foundation:
https://blog.bitcoinfoundation.org/the-bitcoin-foundation-welcomes-bruce-fenton-as-executive-director/

Bitcoin Pie Baron arrested for hacking:
http://www.komu.com/news/man-who-claims-he-hacked-columbia-komu-websites-jailed-in-az/

 

[itod]

People dont like the BF because "power". But bitcoin wont survive without  some sort of intelligent benign leadership. But this leadership will have  "power", and people wont like that... Rinse, Repeat.

You either have cake, or you eat cake. Until people get that into their heads, bitcoin will have some tough times ahead..

You obviously haven't followed Bitcoin development on GitHub. There is a " intelligent benign leadership" very much in place, and it has nothing to do with BF. Developers with Gavin as head wouldn't listen to BF if they think something BF is pushing is not good for Bitcoin. All people who's influence on development is significant are employed by large Bitcoin startups, and are very much interested for Bitcoin to succeed so those startups get to successful IPOs when they would monetize their role as core developers. There are no better guardians of Bitcoins then these group of guys, and they can do very well without Bitcoin Foundation, thank you very much.

I'm still on the lists, so considered myself as informed as the next man, but I hope you can clarify things otherwise.

Can you explain this leadership structure that is in place, but has nothing to do with the Foundation?  I obviously missed that one.  

Are you just speculating ( thinking out loud) when you say  "Developers with Gavin as head wouldn't listen to BF if they think something BF is pushing is not good for Bitcoin", or do you have a particular exchange that typifies this view?  Something other than the usual discussions and different views that exist in a normal, healthy environment ( as opposed to this toxic thread).

Explain to me also how these successful startups are going to "monetize their role as core developers"?  That sounds ominous. Like they are just in it for the money, or something.  

There are no better guardians of Bitcoins then these group of guys, and they can do very well without Bitcoin Foundation, thank you very much

So, unelected developers with a purely commercial interest in bitcoin ( in 'owning' it) would, in your eyes, be a better, more transparent and democratic solution for the management of bitcoin than a democratically elected foundation, comprising of members drawn from both business and users.

Dont get me wrong, I am a developer, and developers have an important role to play in the shaping of a project of this nature. But developers are by their nature very narrow in their perspective, and a more broadly based leadership is needed, with business, technology and end user perspectives.

Leadership structure you've asked, although it's surprising you already don't know it if you follow the discussions on Github and on #bitcoin-dev IRC channel, where things are mostly discussed: Gavin Andresen delegated day-to-day code maintenance to Wladimir J. van der Laan, who is official code maintainer since last year. Gavin role is now more as chief scientist, doing new & long term code features not implemented in the current release. There are also a handful of guys like Pieter Wuille, Greg Maxwell & Jeff Garzik whose opinion is considered about every major issue if some code change is accepted or not. There's nothing Bitcoin Foundation can say or do which can make these five guys change their minds about some code change in Bitcoin. Their word is final, and yes I think that's much better then any other system based on what BF board thinks is good for Bitcoin.

[YourMother]

This is how a Bitcoin Baron looks like



I'd totally smash him