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

[tomothy]

Is BTC-E down for anyone else? I know first we had coinbase, but they seem to be back up. Anyone know when they went down if they are? It could just be my internet, ugh. Was just wondering. Wanted to play these bounces a bit... :/ (N/m, BTCE up again if it was actually down /sigh)

[JimboToronto]

Another extra-early, farmers' hours good morning Bitcoinland.

Got up to answer the call of nature, gassed up the generator in anticipation of a Monday morning dip and see it already happened.

You're off the grid?

Yeah. I'm lucky to even have mobile internet access. Didn't always. I used to have to climb a hill to make a cellphone call, depending on the weather.

My faithful Honda EU2000i is my precious link to civilization. Burns about a gallon a day with average use.

It's not so good for access to the cash purchase of bitcoins, but great for the mental health. I listen to a waterfall while I'm sleeping. Compared to where I live in downtown Toronto, the air quality is amazing and the deep-drilled well water is like nectar, even if the minerals scale up the coffee maker much faster than in the city.

I consider myself to have dual citizenship: city bumpkin and country slicker.

[Torque]

I knew that snake Tsipras would cave to the creditors, because he's been a secret member of the corrupt EU Oligarchy all along.

http://time.com/3955221/greece-bailout-marathon/

If this gets passed in Parliment this week, the Greeks are fk'ed.  And if I were the greek people, I would start rioting in the streets. Arab Spring style.

[podyx]

Sodld at 317.5 and bought at 281.18. Looks like I did a nice trade, atleast I didn't miss my entry prices by a dollar like i normally do

[Elwar]

At the least the Greek people need to look at alternative currencies. Let their government hold the bag.

[ChartBuddy]

Coin
Explanation

[JimboToronto]

Just looking at the Finex charts or the last 5 days.

The 1 hour candle for the push from the $270s to the $290s on Friday and the 1 hour candle for the fall from the $300s to the $280s today are remarkably similar in volume.

They're like bookends on the weekend rally and correction.

Net result: another $15 leg up. This is good. Slow and steady wins the race.

[xxxxxzzzzz]

aaaand more abusive bullshit

coinbase goes down , price up $6 , back up , right back down immediately

it's almost as though all of the exchanges act in clandestine collusion to take turns screwing their customers as severely as possible

nothing but fuck you pumps and fuck you dumps bulltrap beartrap bulltrap beartrap why the hell can't we act like *every other* traded commodity and currency on the planet

is it really too much to ask that we have honest markets and manipulators not raping the market ? i guess that is a lot to ask

[hd060053]

the greek people are fucked anyway unless they buy other currencies as soon as the banks open in the next days/weeks.

smart greece money is not affected and will even profit from the crisis

[gentlemand]

is it really too much to ask that we have honest markets and manipulators not raping the market ? i guess that is a lot to ask

While it's still legal this behaviour isn't going anywhere. If conventional markets were allowed to be a free for all they would be properly mucky places too.

I wonder what would happen if blatant rigging was outlawed. Our beloved whales would be utterly bereft. Then they'd head straight offshore. This'll always be a global market and always a 24hr one too.

I'm not sure there'll be an escape any time soon. Even if there were regulated and policed exchanges in the US and EU there'll always be a BTC-e or OKcoin somewhere. It's up to the traders to decide whether they should be allowed to become an irrelevance but the temptation to keep on pumping and dumping won't go away.

[JimboToronto]

aaaand more abusive bullshit

coinbase goes down , price up $6 , back up , right back down immediately

it's almost as though all of the exchanges act in clandestine collusion to take turns screwing their customers as severely as possible

nothing but fuck you pumps and fuck you dumps bulltrap beartrap bulltrap beartrap why the hell can't we act like *every other* traded commodity and currency on the planet

is it really too much to ask that we have honest markets and manipulators not raping the market ? i guess that is a lot to ask

ps can we just go ahead and ban NLC's IP address ? that would be a lot easier than deleting their daily puke and banning each new account for the 5000th time at least make them leave their basement and find a starbucks wifi to continue their incessant harassment of this forum (then keep banning those until they literally have to commute to keep trolling)

Shroomskit is that you?

Of course there will be manipulation, especially in as small a market as Bitcoin, but the market is almost always right so deal with it.

As for IP address banning NLC, forget it. There are too many ways around that sort of thing.

[bobabouey2]

This is a coup trending.  https://twitter.com/hashtag/ThisIsACoup?src=hash

[Torque]

This is a coup trending.  https://twitter.com/hashtag/ThisIsACoup?src=hash

Even though I don't respect Paul Krugman or what he thinks of Bitcoin, on this Greek deal he has it exactly right:

http://krugman.blogs.nytimes.com/2015/07/12/killing-the-european-project/?module=BlogPost-Title&version=Blog%20Main&contentCollection=Opinion&action=Click&pgtype=Blogs&region=Body&_r=1

His opener:

"Suppose you consider Tsipras an incompetent twerp. Suppose you dearly want to see Syriza out of power. Suppose, even, that you welcome the prospect of pushing those annoying Greeks out of the euro. Even if all of that is true, this Eurogroup list of demands is madness. The trending hashtag ThisIsACoup is exactly right. This goes beyond harsh into pure vindictiveness, complete destruction of national sovereignty, and no hope of relief. It is, presumably, meant to be an offer Greece can’t accept; but even so, it’s a grotesque betrayal of everything the European project was supposed to stand for. "

[ChartBuddy]

Coin
Explanation

[Scamc0p]

People really believe your average Joe from Greece will buy many bitcoins?

That's just stupid on so many levels.

They don't even own a computer. They don't even have enough money to operate their mobile phone.
That point does make you wonder about all these gomers that think Greece can adopt it just when they lose their currency. It is not possible. There will be months for it to take place starting with atm machines then to shops.

[findftp]

People really believe your average Joe from Greece will buy many bitcoins?

That's just stupid on so many levels.

They don't even own a computer. They don't even have enough money to operate their mobile phone.
That point does make you wonder about all these gomers that think Greece can adopt it just when they lose their currency. It is not possible. There will be months for it to take place starting with atm machines then to shops.

Morons, of course they don't buy bitcoin.
They'll buy ripple instead much cheaper.

/s

[aztecminer]

ron paul makes a good point why bitcoin would not be a good replacement for the failing 'in god we trust' to print and manipulate dollar, he says: "On reason Greece has been forced to seek bailouts from its EU partners is that Greece ceded control over its currency when it joined the European Union." http://ronpaulinstitute.org/archives/featured-articles/2015/july/12/greece-today-america-tomorrow/

bitcoin would be just like the euro.. it would not work. only a metals backed currency will work as a replacement for the broken dollar 'interest to infinity' debt slavery system.

here is a scenario that bitcoiners could possibly face.. as the dollar is about to be replace during the "big block of cheese day" when all the cheese is turned into cheesecakes the cheesecakes will be worth less in the new currency. it will be the same for bitcoin because bitcoins will be priced in dollars but dollars will be worth less in the new currency. therefore bitcoins will receive the same haircut as those people who have their cheese turned into cheesecakes.

i still own a lot of bitcoins and i do not believe it will just die... but i no longer believe bitcoins is going to suddenly become some worldwide reserve currency and we are all suddenly going to be buying boats.. the state of Texas is building a gold depository, and not a bitcoin depository... they are demanding their gold from the fed. we will be able to trade metals for bitcoin and vice versa i am sure, but it will be metals that have the huge value more than bitcoin.

[findftp]

ron paul makes a good point why bitcoin would not be a good replacement for the failing 'in god we trust' to print and manipulate dollar, he says: "On reason Greece has been forced to seek bailouts from its EU partners is that Greece ceded control over its currency when it joined the European Union." http://ronpaulinstitute.org/archives/featured-articles/2015/july/12/greece-today-america-tomorrow/

bitcoin would be just like the euro.. it would not work. only a metals backed currency will work as a replacement for the broken dollar 'interest to infinity' debt slavery system.

here is a scenario that bitcoiners could possibly face.. as the dollar is about to be replace during the "big block of cheese day" when all the cheese is turned into cheesecakes the cheesecakes will be worth less in the new currency. it will be the same for bitcoin because bitcoins will be priced in dollars but dollars will be worth less in the new currency. therefore bitcoins will receive the same haircut as those people who have their cheese turned into cheesecakes.

i still own a lot of bitcoins and i do not believe it will just die... but i no longer believe bitcoins is going to suddenly become some worldwide reserve currency and we are all suddenly going to be buying boats.. the state of Texas is building a gold depository, and not a bitcoin depository... they are demanding their gold from the fed. we will be able to trade metals for bitcoin and vice versa i am sure, but it will be metals that have the huge value more than bitcoin.

Things will not go suddenly.
We are already having an 7 year journey (publicizing of the whitepaper)

But I wish you good luck sending gold through a wire

[freebit13]

ron paul makes a good point why bitcoin would not be a good replacement for the failing 'in god we trust' to print and manipulate dollar, he says: "On reason Greece has been forced to seek bailouts from its EU partners is that Greece ceded control over its currency when it joined the European Union." http://ronpaulinstitute.org/archives/featured-articles/2015/july/12/greece-today-america-tomorrow/

bitcoin would be just like the euro.. it would not work. only a metals backed currency will work as a replacement for the broken dollar 'interest to infinity' debt slavery system.

here is a scenario that bitcoiners could possibly face.. as the dollar is about to be replace during the "big block of cheese day" when all the cheese is turned into cheesecakes the cheesecakes will be worth less in the new currency. it will be the same for bitcoin because bitcoins will be priced in dollars but dollars will be worth less in the new currency. therefore bitcoins will receive the same haircut as those people who have their cheese turned into cheesecakes.

i still own a lot of bitcoins and i do not believe it will just die... but i no longer believe bitcoins is going to suddenly become some worldwide reserve currency and we are all suddenly going to be buying boats.. the state of Texas is building a gold depository, and not a bitcoin depository... they are demanding their gold from the fed. we will be able to trade metals for bitcoin and vice versa i am sure, but it will be metals that have the huge value more than bitcoin.

The question is: will they get it?

Bitcoin is not some magical fairy dust, but at it's core it is extremely disruptive and will change a lot of things we can't even fathom yet. I wouldn't listen to too many old-school thinkers on this topic, they just don't have the foresight to see what bitcoin means. Plus they mostly also have vested interests in the current system.

It's been said sooo many times before: ZOOM OUT!

[aztecminer]

ron paul makes a good point why bitcoin would not be a good replacement for the failing 'in god we trust' to print and manipulate dollar, he says: "On reason Greece has been forced to seek bailouts from its EU partners is that Greece ceded control over its currency when it joined the European Union." http://ronpaulinstitute.org/archives/featured-articles/2015/july/12/greece-today-america-tomorrow/

bitcoin would be just like the euro.. it would not work. only a metals backed currency will work as a replacement for the broken dollar 'interest to infinity' debt slavery system.

here is a scenario that bitcoiners could possibly face.. as the dollar is about to be replace during the "big block of cheese day" when all the cheese is turned into cheesecakes the cheesecakes will be worth less in the new currency. it will be the same for bitcoin because bitcoins will be priced in dollars but dollars will be worth less in the new currency. therefore bitcoins will receive the same haircut as those people who have their cheese turned into cheesecakes.

i still own a lot of bitcoins and i do not believe it will just die... but i no longer believe bitcoins is going to suddenly become some worldwide reserve currency and we are all suddenly going to be buying boats.. the state of Texas is building a gold depository, and not a bitcoin depository... they are demanding their gold from the fed. we will be able to trade metals for bitcoin and vice versa i am sure, but it will be metals that have the huge value more than bitcoin.

Things will not go suddenly.
We are already having an 8 year journey (publicizing of the whitepaper)

But I wish you good luck sending gold through a wire

like i said, we will be able to trade our metals for cryptos... and i believe we will trade our metals for A LOT of cryptos ... we can trade our metals for the new metals backed currency at a depository and buy cryptos from an exchange just like we do today. by using a metals backed currency we are not limited by an unconstitutional cashless society.