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

[ssmc2]

Imo Gavin and Hearn are to blame for this.

Blame for what?

For the PR desaster that is unfolding at the moment and that could cause harm to the adoption of BTC as much as Goxfart did.

there is wont be mass adoption of btc. this is pure fantasy. again. always. dammit.

You sound like you need a drink.

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[Bagatell]

Imo Gavin and Hearn are to blame for this.

Blame for what?

You do realise that Gavin has been cashing out his btc and buying stocks instead!

Show me proof

Show me a stock that's worth buying.

[dreamspark]

Imo Gavin and Hearn are to blame for this.

Blame for what?

You do realise that Gavin has been cashing out his btc and buying stocks instead!

Show me proof

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

[hdbuck]

Imo Gavin and Hearn are to blame for this.

Blame for what?

You do realise that Gavin has been cashing out his btc and buying stocks instead!

Show me proof

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

bouya! go to hell gavin!

[natewelt]

Imo Gavin and Hearn are to blame for this.

Blame for what?

You do realise that Gavin has been cashing out his btc and buying stocks instead!

Show me proof

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

From the article --- “If bitcoin is wildly successful, I’m still holding on to a good chunk of bitcoin. It could be worth tens of millions of dollars, but it could be worth zero. It doesn’t make sense to hold more than that amount. I don’t have a desire to be a multi-billionaire. That’s not what motivates me, I have no desire to be filthy rich.”


Sounds to me like he is merely taking profits on a portion of his coins and diversifying into other things. Sounds prudent to me. I also hold stocks which I think all people should if they have the funds.

You make it sound more dire than it is.

Any of you out there that bought coins below 100 and never have sold any are crazy in my book. Taking profits on a portion of your gains is prudent...not reckless.

[gentlemand]

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

It's his money and his life. I doubt he signed up for his every move to be vetted by an ideological committee.

And advising caution is a much more sensible move than running around with his hands waving shouting 'we're gonna be RICH.'

[podyx]

The bitcoin shitstorm that is unfolding right now summed up in one picture



If we go much lower, it will be a very nice buying opportunity.

[ChartBuddy]

Coin
Explanation

[ghandi]

$250 on Bitfinex might be important

[becoin]

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

This proves that Gavin has vested interest in decreasing the value of bitcoin and he abused his position as a Core dev to promote XT altcoin!

[hdbuck]

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

This proves that Gavin has vested interest in decreasing the value of bitcoin and he abused his position as a Core dev to promote XT altcoin!

yep even cryptocoinnews is getting it: "the XT developers are not telling the whole truth and are knowingly putting Bitcoin's future on the line."

https://www.cryptocoinsnews.com/block-size-bitcoin-not-scale-effectively/

[dreamspark]

From the article --- “If bitcoin is wildly successful, I’m still holding on to a good chunk of bitcoin. It could be worth tens of millions of dollars, but it could be worth zero. It doesn’t make sense to hold more than that amount. I don’t have a desire to be a multi-billionaire. That’s not what motivates me, I have no desire to be filthy rich.”


Sounds to me like he is merely taking profits on a portion of his coins and diversifying into other things. Sounds prudent to me. I also hold stocks which I think all people should if they have the funds.

You make it sound more dire than it is.

Any of you out there that bought coins below 100 and never have sold any are crazy in my book. Taking profits on a portion of your gains is prudent...not reckless.

He's a scientist and engineer not a financial adviser.

When speaking to the media or other organizations (which he shouldn't be doing as he's terrible at it, lets not forget why Satoshi left) it is not good PR for your project to say 'this is a project to upstage the current financial system and I will be putting my life into making it succeed. But, oh, I'm also cashing out of what I perceive as a new financial system and investing in the old one'

Advising caution is fine, he shouldn't be saying anything about what he's doing with his coins though especially if it doesn't show much confidence in it.

As chief scientist he shouldn't be talking to the media about any of his speculative positions, it's a HUGE conflict of interest.

[natewelt]

so there is a really really thin bid book on stamp...

I've said something similar to this before and got no legitimate responses. I think Stamp's orderbook is the most predictive of all the exchanges by a long-shot even though it's not the biggest.

Finex can have huge bid support yet the price still drops, but it seems like when Stamp has huge bid support the price actually stays supported or rises. The Stamp bid support started to wane once we fell back below 300 and has not recovered. I am patiently waiting for bids to overcome asks on Stamp before I buy anymore. So far this morning the Stamp orderbook has begun looking more bullish. Still have a long way to go though.

[hdbuck]

so there is a really really thin bid book on stamp...

I've said something similar to this before and got no legitimate responses. I think Stamp's orderbook is the most predictive of all the exchanges by a long-shot even though it's not the biggest.

Finex can have huge bid support yet the price still drops, but it seems like when Stamp has huge bid support the price actually stays supported or rises. The Stamp bid support started to wane once we fell back below 300 and has not recovered. I am patiently waiting for bids to overcome asks on Stamp before I buy anymore. So far this morning the Stamp orderbook has begun looking more bullish. Still have a long way to go though.

yes, i use stamp. finex could be dumping thousands within a blink. way too much bots there.

PS: finex now down to 13k btc instead of 20k..

[podyx]

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

This proves that Gavin has vested interest in decreasing the value of bitcoin and he abused his position as a Core dev to promote XT altcoin!

yep even cryptocoinnews is getting it: "the XT developers are not telling the whole truth and are knowingly putting Bitcoin's future on the line."

https://www.cryptocoinsnews.com/block-size-bitcoin-not-scale-effectively/

These are things I've questioned many times on different forums and I've been told that they are all solvable every time.

Feels like both sides, core and XT, are spewing out propaganda right now

[billyjoeallen]

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

This proves that Gavin has vested interest in decreasing the value of bitcoin and he abused his position as a Core dev to promote XT altcoin!

No, what it proves is that if even core developers are doubtful about the future that we are at disillusionment and very near peak despair, the bottom of the cycle. 

[Fatman3001]

Sure, this article is from the financial times.

https://www.evernote.com/shard/s78/sh/882fdac9-556c-482d-a0c9-c2c2456c185c/55d0920c48d621d3

"While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead."

Somebody who is supposed to believe the future of his project should not be making such a nightmare of PR every time he speaks to the media.

This proves that Gavin has vested interest in decreasing the value of bitcoin and he abused his position as a Core dev to promote XT altcoin!

No, what it proves is that if even core developers are doubtful about the future that we are at disillusionment and very near peak despair, the bottom of the cycle. 

Well done! Nice positive spin.

[phoenix1]

LOL! That article is from 6 months ago. Gavin has always been very clear that his major concern was the scalability of BTC, which remains to be proven.
As for divesting some of his BTC as he is not interested in being 'filthy rich' (his words) and still holds enough to be seriously wealthy, what exactly is the problem with this? Sensible move. Once you have made 'enough' do you seriously expect any sane person to leave it all on black or red? (I know there is not so much sanity in here, so I can understand why it is perceived differently ...)

[billyjoeallen]

so there is a really really thin bid book on stamp...

I've said something similar to this before and got no legitimate responses. I think Stamp's orderbook is the most predictive of all the exchanges by a long-shot even though it's not the biggest.

Finex can have huge bid support yet the price still drops, but it seems like when Stamp has huge bid support the price actually stays supported or rises. The Stamp bid support started to wane once we fell back below 300 and has not recovered. I am patiently waiting for bids to overcome asks on Stamp before I buy anymore. So far this morning the Stamp orderbook has begun looking more bullish. Still have a long way to go though.

yes, i use stamp. finex could be dumping thousands within a blink. way too much bots there.

PS: finex now down to 13k btc instead of 20k..

The problem on BFX is the ~$30 million in margin longs that will all have to cover at some point. Most of those bulls have long since run out of fiat and so fees and interest are being taken out of their BTC and sold. This amounts to huge overhead resistance.  I'm margin long and when we got that pop up to $262 on Sunday, I took some risk off the  table. If everybody does that (and it looks like a lot of us are), It amounts to a massive downward ratchet. 

You are right if you think leverage can cause volatility but that's a profit opportunity for savvy traders, Yet leveraged short sellers can halt a crash when they cover.

You have to look at the picture long term. if you can stay solvent until a few months after the halving (about this time next year) without taking any profits at all, then you are in good shape.  Bitcoin doesn't have to out-perform the dollar in a world with negative interest rate bonds. It just has to out perform alternative speculative investments, payment systems, and title recording systems.  It's gotta flatten out before it goes back up to the moon. that will take months.

[dreamspark]

LOL! That article is from 6 months ago. Gavin has always been very clear that his major concern was the scalability of BTC, which remains to be proven.
As for divesting some of his BTC as he is not interested in being 'filthy rich' (his owrds) and still holds enough to be seriously wealthy, what exactly is the problem with this? Sensible move. Once you have made 'enough' do you seriously expect any sane person to leave it all on black or red? (I know there is not so much sanity in here, so I can understand why it is perceived differently ...)

Talk about missing the point. Not sure why the age of the article matters.

He has a massive conflict of interest as chief scientist speaking to the media. He shouldn't be talking speculation end of.

Imagine if the ceo of an up and coming company was speaking to the media and said "I believe in this company and I'm putting my all into it, however I'm also selling stocks of my company and investing in others".

Sure, that's prudent. That's also what most big share holders would do but you just don't say that. As I said PR nightmare and a massive conflict of interest.