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

[ElectricMucus]

Shorts at all time high.

bullshit, ATH is at ~7.2 mil, right now at ~5.5 mil
http://bfxdata.com/sentiment/longshort.php

[Fatman3001]

Shorts at all time high.

Fly me to the moon and let me play among the stars. Let me see what spring is like on Jupiter and Mars.

In other words... let's launch this mofo!

[Norway]

Shorts at all time high.

Fly me to the moon and let me play among the stars. Let me see what spring is like on Jupiter and Mars.

In other words... let's launch this mofo!

I have done my first (and probably last) short term prediction on this forum that monday is "Wall Street Monday!".

If I'm wrong, take me behind the barn and shoot me. (At least, I will never try to predict the short time future here again, he he).

[ChartBuddy]

Coin
Explanation

[Natalia_AnatolioPAMM]

Fiat cannons loaded. Someone bring us under $200 please

Buy as fast as you can. Maybe a lot happens on sunday/monday...

what exactly ,for example ?

[Dilla]

More sideways... more sideways... calm before the storm sunday/monday?

[Norway]

Fiat cannons loaded. Someone bring us under $200 please

Buy as fast as you can. Maybe a lot happens on sunday/monday...

what exactly ,for example ?

It's just my gut feeling. GBTC starting to trade, NY BitLicense finalized, Rand Paul attending bitcoin event tomorrow, the Facetwins being able to launch COIN at NASDAQ and their Gemini exchange. I'm probably wrong about the timing. But I think many players have an incentive to launch at the same time  

[ssmc2]

Anyone catch the live stream of Balaji Srinivasan of 21 speaking at the job fair? I missed it and am curious if he divulged any info on their game plan.

[hyphymikey]

Shorts at all time high.

bullshit, ATH is at ~7.2 mil, right now at ~5.5 mil
http://bfxdata.com/sentiment/longshort.php

You don't count shorted bitcoin in dollar terms lol. Fiat in fiat, coins in coins.

[Norway]

Anyone catch the live stream of Balaji Srinivasan of 21 speaking at the job fair? I missed it and am curious if he divulged any info on their game plan.

I tried, but the background sound is spoiling it. If you want to see/listen, you can just rewind from the live stream.
https://www.youtube.com/watch?v=H81S3wTWchA&feature=youtu.be

[LFC_Bitcoin]

More boring sideways action I see.

I feel starved of any positive action lately.

[shmadz]

...........

A troll aimed at a Canadian audience? Are we waiting for Canadians to dump?

I missed what reflux might have said, but if you're trying to troll Canadians and your post isn't "hockey sucks and Tim Horton's tastes like crap!" then you're doing it wrong. 

[ChartBuddy]

Coin
Explanation

[JorgeStolfi]

Double digits seem outrageous right now, but there are many scenarios that could cause such a drop.

I think that is possible, if:

* The BIT fund fails to attract substantial new investment
* The COIN ETF is not approved, or its demand is limited too
* Usage for e-commerce does not explode
* There is no boom in new markets  (India, Africa, Latin America)
* China abandons bitcoin completely

I am increasingly convinced that Chinese demand created both 2013 bubbles (not only the October-November one, but also the January-April one).  Therefore, I would guess that, if China pulls out and nothing else takes its place, the price could return to the levels of late 2012, namely ~15 $/BTC.

The price may also drop significantly if there is some event that destroys confidence in the coin among the more technical users, such as a serious flaw in the algorithms or incentives, a wave of coin theft, new stifling regulation in the US and Europe, etc.

[inca]

Shorts at all time high.

bullshit, ATH is at ~7.2 mil, right now at ~5.5 mil
http://bfxdata.com/sentiment/longshort.php

Yeah. But btc is limited.

[Norway]

Double digits seem outrageous right now, but there are many scenarios that could cause such a drop.

I think that is possible, if:

* The BIT fund fails to attract substantial new investment
* The COIN ETF is not approved, or its demand is limited too
* Usage for e-commerce does not explode
* There is no boom in new markets  (India, Africa, Latin America)
* China abandons bitcoin completely

I am increasingly convinced that Chinese demand created both 2013 bubbles (not only the October-November one, but also the January-April one).  Therefore, I would guess that, if China pulls out and nothing else takes its place, the price could return to the levels of late 2012, namely ~15 $/BTC.

The price may also drop significantly if there is some event that destroys confidence in the coin among the more technical users, such as a serious flaw in the algorithms or incentives, a wave of coin theft, new stifling regulation in the US and Europe, etc.

Jorge, I just don't get you. You are allways such a downer. At the same time, you spend a lot of effort and energy at reasearch and writing about bitcoin. What is your motivation?

[tarmi]

and money is limitless.

yawn.

[gentlemand]

Jorge, I just don't get you. You are allways such a downer. At the same time, you spend a lot of effort and energy at reasearch and writing about bitcoin. What is your motivation?

He's here to use his superior brain and education to save us from ourselves. I think it's a bit too late for most though.

[Norway]

Jorge, I just don't get you. You are allways such a downer. At the same time, you spend a lot of effort and energy at reasearch and writing about bitcoin. What is your motivation?

He's here to use his superior brain and education to save us from ourselves. I think it's a bit too late for most though.

Lol! 
But I hope he answers my question.

[shmadz]

Double digits seem outrageous right now, but there are many scenarios that could cause such a drop.

I think that is possible, if:

* The BIT fund fails to attract substantial new investment
* The COIN ETF is not approved, or its demand is limited too
* Usage for e-commerce does not explode
* There is no boom in new markets  (India, Africa, Latin America)
* China abandons bitcoin completely

I am increasingly convinced that Chinese demand created both 2013 bubbles (not only the October-November one, but also the January-April one).  Therefore, I would guess that, if China pulls out and nothing else takes its place, the price could return to the levels of late 2012, namely ~15 $/BTC.

The price may also drop significantly if there is some event that destroys confidence in the coin among the more technical users, such as a serious flaw in the algorithms or incentives, a wave of coin theft, new stifling regulation in the US and Europe, etc.

I was thinking more of some kind of outliers like "what if the twins get shot down in their attempts to set up the ETF and just give up and dump their coins" or other crazy stuff...

The most likely failure mode I could think of right now is just to continue down the road of regulation. The transparency of the bitcoin ledger is both its strength and its weakness. For bitcoin to be truly fungible is currently dependant on the whim of the government. Without legislation that enforces legal fungibility (which is already in place for cash, so at least there is a precedent) I think bitcoin faces some serious problems.

On the other hand, if the public at large would finally become fed up with the obvious corruption and collusion between state and corporation and demand transparent governance, then a new system which separates the marriage of money and state might evolve from the ashes and perhaps we could move on to a new golden era of freedom and innovation...

Yeah, I know, fat chance of that happening.  


(BTW, I like the new avatar, much better than the others, I think you should keep that one)