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

[xxxxxzzzzz]

I like a good roller coaster as much as the next guy but the market movements as of late more closely resemble one of these tower drop rides. This seemingly dogmatic trading method of perpetually forcing free fall down followed by forcing immediate vertical up is fuckin brutal and renders bitcoin almost useless as a stable store of value or currency, and mostly only functional and useful as a speculative financial tool with minimal secondary use as a criminal payment option and cheap but risky remittance alternative. I believe that the severe volatility is what is primarily responsible for discouraging wider adoption and significantly greater prices, and it's a bizarre sort of catch 22, volatility allows traders to extract $ (and/or increase total bitcoin holdings) but volatility prevents new user adoption and greater prices resulting from new money entering. I get that the traders don't give a shit about bitcoin whatsoever and just want to fuck the market for as much gains as they can, but damn, if you all only trade it in a fashion of creating as many and as severe of fuck you spikes up and down as possible, the ride stops being fun and just results in lots of puke with most people wanting off the ride and nobody standing in line.

[TerraMaster]

I like a good roller coaster as much as the next guy but the market movements as of late more closely resemble one of these tower drop rides. This seemingly dogmatic trading method of perpetually forcing free fall down followed by forcing immediate vertical up is fuckin brutal and renders bitcoin almost useless as a stable store of value or currency, and mostly only functional and useful as a speculative financial tool with minimal secondary use as a criminal payment option and cheap but risky remittance alternative. I believe that the severe volatility is what is primarily responsible for discouraging wider adoption and significantly greater prices, and it's a bizarre sort of catch 22, volatility allows traders to extract $ (and/or increase total bitcoin holdings) but volatility prevents new user adoption and greater prices resulting from new money entering. I get that the traders don't give a shit about bitcoin whatsoever and just want to fuck the market for as much gains as they can, but damn, if you all only trade it in a fashion of creating as many and as severe of fuck you spikes up and down as possible, the ride stops being fun and just results in lots of puke with most people wanting off the ride and nobody standing in line.

Interesting synopsis.

Btc is the new age of high tech on line gambling. As they say, know when to hold and know when to fold... holds true here.   

[findftp]

going under 200$

Need to go under 280 first

EDIT: let's see if the ask walls are real.

Well it just went under 277.12$ - 2.36% from past 14 hours i think. This is a bad thing what is happening ?

The same thing behind every BTC move starts with "Ch", and ends with "na", oh and there's an "i" somewhere in there

Well i am trying to combine these letters, is it China?
We know china is a big country but their affects is very high

China, of course.

I figured he must be a moron because there is no "i" in "Choo choo motherfucker"

[Sitarow]

[ChartBuddy]

Coin
Explanation

[findftp]

A major dutch bank ING just "banned" bitcoin.
They don't let you buy them unless you call a special number. They will then see if they let you.
Lol, first RaboBank and now ING.
I moved to ABN from rabobank because of it.

These are the tweets:
enkele risico's zijn het gebrek aan toezicht op de bitcoin door een centrale bank, de hoge koersvolatiliteit en het 1/4
risico op fraude en gebruik voor illegale doeleinden van de bitcoin, als gevolg van de anonimiteit van het gebruik ervan. 2/4
mocht je toch bitcoins willen aankopen, dan kun je telefonisch contact met ons opnemen, via 020 22 888 88. 3/4
we beoordelen dan of de transactie alsnog uitgevoerd kan worden. ^Franke 4/4

Risks are lack of supervision on Bitcoin by a central bank (), high volatility and the risk of fraud and illegal purposes due to the anonymity of it.
If you really want to buy bitcoin call us and laugh us in the face we will judge if we permit the transaction.

[Dilla]

Go to another bank.

[findftp]

Go to another bank.

I already did.

[koryu]

so... are you nervous falling back in the log downtrend?

imho there is a good chance that the correction is over at that point.  

[gentlemand]

I get that the traders don't give a shit about bitcoin whatsoever and just want to fuck the market for as much gains as they can, but damn, if you all only trade it in a fashion of creating as many and as severe of fuck you spikes up and down as possible, the ride stops being fun and just results in lots of puke with most people wanting off the ride and nobody standing in line.

Agreed. It'll be regarded as a toxic backwater until or unless actual demand overwhelms the market wanking. It's a bit of a catch 22 as waves of demand might find themselves preyed upon by the same old suspects. I'm not totally sure whether it'll ever be able to shake it off.

[cryptasm]

who gives a f*ck about a dutch bank?

[White sugar]

who gives a f*ck about a dutch bank?

They give all the fucks about Greece, an insignificant and bankruptcy economy, why not about dutch banks?

[mogrith]

who gives a f*ck about a dutch bank?

The Dutch?

ING is also in USA mainly for investments than checking/saving

[inca]

so... are you nervous falling back in the log downtrend?

imho there is a good chance that the correction is over at that point.  

Log downtrend line is now down in the 240's.

We seem to still be some way above that. (Even with the 10 dollar dump and ~30 dollar drop from the peak )

[Patel]

Retrace to 275 is coming, 2 weeks

nailed it, but happened earlier than expected

[ChartBuddy]

Coin
Explanation

[Sitarow]

[dakota neat]

china will be not happy, guys. not happy at all. they will totally panic mode and dump below 250s which means the bear market resumes. sad but true.

the only thing that stops that shit is when the true believers sell at the lowest possible price point.

[giustone]

I believe that by the end of the year, Bitcoin will reach $ 380.
I started to buy to make a profit, right now.
Good luck to all traders.

[koryu]

I dont believe that china goes full retard like they did at the peak.
resistance is too strong. bear market is over. we can continue with the healthy growth now.