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

[inca]

I'm always astonished about the bullish self confidence...
...but what is this ever lasting and repeating bullishness where market did not confirm any direction?

You are posting on a bitcoin enthusiast forum. Why are you surprised people are enthusiastic and confident about bitcoin? Serious question because you post here often enough to have grasped that by now.

Nearly a billion projected USD VC capital investment for 2015. The bitcoin community is still extremely small for those kind of valuations. Zoom out on the long term price chart.

Finally and most importantly (for me at least) this is my play money to do with as I wish. My shares are never going to do anything exciting except plod along or eventually crash when the central bank spigot is turned on. Property is just for living in or renting out. Bitcoin is exciting and for ideological reasons is attractive also.

Okay. Lets try to talk a bit respectful:

You maybe dont believe, but Im also a bitcoin enthusiast. Being a bitcoin enthusiast does not mean that I cant keep my objectivity like falling in love with a woman - doing and thinking crazy shit and shouting out my love. Thats like a maniac-depression and has no place for me in investments.

I saw here a lot of people calling themself bulls and shouting out their own sentiment in a crazy manner on all mayor consildations since the ath. Afterwards the consolidation resulted bearish and a lot of these people disapeared from this forum but Im still here. And I will stay here if the price goes down to 50$ or if it goes up to 32,000$.

Im a long term bull, a real bitcoin bull - and no bitcoin-hipster. At the same time I try to trade the market without any delusion that my sentiment or my (bearish or bullish) mantras have any effect on the price. I try to take the swings and the direction how it comes...and if it goes down even harder...I dont care....I try to take my profit of this...and keep bullish in long term. 200, 150, 100, 50, 40...I dont care.

Thanks for that post.. I actually don't think we are too far apart. I will buy you a beer if we ever meet

[Dump3er]

I'm always astonished about the bullish self confidence...

...like the price never did break out of the logarithmic downtrend before only to form a new logarithmic downtrend.

I don't even say that there's absolutely no chance for a new mayor bull market from here (what would be the contrarian side of mental deficiency)...

...but what is this ever lasting and repeating bullishness where market did not confirm any direction? The same happened within all mayor consolidations since the ath. Is this an effect of smoking too much crack?

I'm never amazed that you are consistently wrong...yet trading Bitcoin is fun and easy!  

Yeah, I'm constantly wrong since ~800. 

Well your recent performance hasn't.

I always have performance problems when the price is like levitating in vacuum.

I hate it. 

[Tzupy]

Ashley Barr, A.K.A "Adam Turner", the first Mt.Gox employee (Jun/2011--May/2012), is doing an Ask Me Anything (AMA) session on reddit.

Thank you for the link, if what he says is true, Karpeles should have been jailed in 2012.

[sAt0sHiFanClub]

Emboldened text: So when i said you have already taken your position and now are trumpeting improbable price collapses on here you are doing that to talk your book, right? Thought so. Funny that you disappeared as the price rose from 219 to 316

I never trumpet anything of the sort - look at my post to the coffee guy - I guessed 'significantly lower', not collapse.  230 was tongue in cheek, but still hardly 'collapse'

Oh and owning a commodity or share over the longer term because there is a long term bullish trend is not unintelligent. It just isn't churning trading in and out of a position trying to catch every little up and downmove. Damn those lucky microsoft/apple/amazon/'name any stock with a long term bull market' investors! Most traders lose and lose very badly including most on this thread by trying to time the market.

Bitcoin is a commodity now?  Thats your number one mistake.  Bitcoin has no intrinsic value, other than the trust that people have in it as a token by which value is exchanged.  A lot like the dollar in that respect. I'm guessing you dont see the distinction in that.

Btw if you are going to accuse people on a bitcoin forum who are bullish about bitcoin as hating and then at least think about your post structure and move the word 'permabulltard' into a different sentence.

people who labell posters "Trolls" because they have a different view to their orthodoxy are, in my book, haters. Maintaining lists and suchlike is almost an incitement to hatred. Its not healthy.

[ChartBuddy]

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[GaliX]

Well I expect at least a bit more realism after we dropped from 1200$ to 160$.

When will all the perma Bulls become disillusioned....? I mean there are still people thinking we will go straight to 30k$ with the next weekly candle.
If Karpeles was the motor behind the May 2013 and December 2013 bubble in the end we will never see 1200$ again even thought people think Bitcoin will take over the world but in fact the blockchain is the thing the world is interested in.

Long term, price will go up (even above ATH) if people start using btc or if they find a value holding it... And it doesn't take many people.

About Karpeles bubble(s). Just like he was pushing price up/down in the past someone is doing exactly the same right now (holding the price down). Market is manipulated... of course every market on the world is manipulated just that here manipulation is more obvious because market cap is super low.

For traders those 20$ swing are perfect so they are not complaining (unless they are losing).

About current situation. I'm thinking we will see a double bottom with higher low.

Why would the market be more manipulated then other?

It's not SOMEBODY pushing the price down when we recently hit 315$... It's market saying "This is the point were more sellers then buyers are."
Karpalese was likely just the motor creating this giant bubble and the attention bitcoin got because of that... It also created a lot of bagholders which are despertly waiting for the price pushing up again (perma Bulls going against any bearish thoughts which would make their bagholding even worse)


There is no law that bitcoin will succeed... I think it's much more likely we will stay for a very long time in a range not creating a new bubble... (previous performance is not an indicator for future performance)
At least for me it seems the world is not really ready/interested in Bitcoin but much rather they are interested in the Blockchain behind it.

bitcoin in it's current form is not really an advantage in a normal day to day use... Credit Cards and PayPal have their issues as well yes but it's not like they are that bad that everybody in this world would have to switch to switch to something which requires 30min conformations before completing the TX...

Maybe this will change in the future with sidechain / lightning network or whatever... But in the current form of Bitcoin as a currency is not the valuable thing... The Blockchain is the valuable thing.

Who knows Ethereum is still very interesting but they are having massive funding problems currently. I know Bitcoin enthusiast will never think of a Bitcoin 2.0 but there are system in planing/development which are much superior and with much more potential use-cases behind them...

[GaliX]

bitcoin in it's current form is not really an advantage in a normal day to day use... Credit Cards and PayPal have their issues yes but it's not like they are that bad that everybody in this world would have to switch to switch to something which requires 30min conformations before completing the TX...

Try to send money from Brasil to Denmark for example... It will take days. Xapo, Bitstamp (with debit card)... solves that in a matter of hours.

ofc if you wire it, it will take for ever...

But with PayPal or a Credit Card it would be there instantly. Ofc the fees are higher and it can be frozen or whatever but tbh. I rarely send money outside of my country and if I do it's not a big issue if a SEPA takes 2 days and I haven't heard of anybody I know that his transaction was frozen...

And if you leave out the substituted Blockreward out, as BTC trasnaction currently would cost like ~30$ ...

[inca]

Did I miss the bottom?

Edit: gotmilk i agree with your sentiments about the move down from 400, though i would say from the high 680s if you look at the bitfinex leverage levels.

[BlackSpidy]

Almost back to over $280 in most (important) exchanges ^{sorry, BTC-e}. Not a surprise, but damn it, I was really hoping to buy bitcoins at $275! Next time... if there is a next time.

[Greendragon]

Try to send money from Brasil to Denmark for example... It will take days. Xapo, Bitstamp (with debit card)... solves that in a matter of hours.

Gotmilk_, I've invented a technology that instantly sends Hula Hoops to Nigeria, from anywhere in the world!
The only thing standing between me and billions is ...doesn't seem like too many folks who *need* to send Hula Hoops to Nigeria
Have you considered how many people need to send money from Brazil to Denmark on regular basis?

drug dealers?

[Dump3er]

Yeah, I'm constantly wrong since ~800.  

That's exactly what I mean. I remember exactly the same responds by the perma Bulls when we were at 800$, 600$ and 400$...

Thinking back I am laughing my ass off when everybody was "hodling" when the bubble started to burst rapidly... All the 300 "Hodl" pictures on Reddit, they were all soooooo wrong..
It's amazing how people think this is a clear multiyear Bullflag because if you log at the log chart it starts from 0,01$ and we are above it.

That's one of the most important bearish aspects I still see...this behavior hasn't changed and the remaining wannabes are still repeating what they did before...

...of course there are some people here I would left aside since they see Bitcoin more as a religion and dont care so much about the price. But these people also don't shout out their own delusion, are calling out crazy price spikes (always tomorrow or at least next week) and don't rule out any further bearish market movements.

The market still has to liberate itself from all those lemmings...

[BlackSpidy]

Try to send money from Brasil to Denmark for example... It will take days. Xapo, Bitstamp (with debit card)... solves that in a matter of hours.

Gotmilk_, I've invented a technology that instantly sends Hula Hoops to Nigeria, from anywhere in the world!
The only thing standing between me and billions is ...doesn't seem like too many folks who *need* to send Hula Hoops to Nigeria
Have you considered how many people need to send money from Brazil to Denmark on regular basis?

How many people would like to instantly send money from the any country to Mexico? The answer is Lots, at least 280 million dollar's worth a year. Imagine sending $100,00 to anywhere in the world, and only needing to place a $0.40 fee. Gee, looks a lot more convenient than your FUD-troll ass makes it out to be.

[Greendragon]

"You have reported 190 posts with 91% accuracy"

...while being a bitter, butthurt faggot 100% of the time.

@Greendragon:  Why would drug dealers want to send money from Brazil to Denmark?  Just how big of a drug market is Brazil?

Prostitution money.
holla

[slap]

...
Have you considered how many people need to send money from Brazil to Denmark on regular basis?

Here's an example: http://youtu.be/IBWH7Sea3Xo

[Ivanhoe]

"You have reported 190 posts with 91% accuracy"

Take the hint..

" You have reported 137 posts with 86% accuracy".

You are doing better than me inca. In a few moments the mentally disordered can make a new account again. What was the point where it all went wrong in it's life?

[Greendragon]

No my retarded friend.
If bitcoin is used by 'few' people and becomming bigger that snapchat it will be at $2k+.

[Ivanhoe]

"You have reported 190 posts with 91% accuracy"

...while being a bitter, butthurt faggot 100% of the time.

@Greendragon:  Why would drug dealers want to send money from Brazil to Denmark?  Just how big of a drug market is Brazil?

Prostitution money.
holla

You know that one of the biggest reasons for trolling is boredom do you? So you might question your own life...

I conclude that you do not have any significant activities in your life besides trolling an internet board.

[Greendragon]

No my retarded friend.
If bitcoin is used by 'few' people and becomming bigger that snapchat it will be at $2k+.

Bitcoin is becoming more regulated, the perceived advantage it had back in SilkRoad days is vanishing.  That bird has flown
Good luck with yr D4rkWeb hooker dreams tho - shit just 2spooky4me.

Bitcoin is made as it is today due criminals just like the banking system.
You should show some respect.

[ChartBuddy]

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[BrewCrewFan]

Wheres my double digit coins damn it?! Is this the end of bitcoin?

/sarcastic.