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

[sAt0sHiFanClub]

Well, it seems to me after watching some of the technical debates that bitcoin has a serious problem with the beta status and a value of $4billion. It makes it extremely hard to fix technical issues just because of it's value. It can never really get out of the beta status and fix the real issues.

There is nothing wrong with the code per se. It doesn't scale very well ( easy fix) and its propagation bound (alas inherent in the design). Its biggest problem is that its potential as a mass financial settling platform has been spotted, and some people wish to change it towards this service (attracting about $200m in VC in the process) . Its possible that this will prevent bitcoin from becoming a unit of commerce in its own right.

But for what it does now, it does exceptionally well for a giant beta.

[Fakhoury]

Well, it seems to me after watching some of the technical debates that bitcoin has a serious problem with the beta status and a value of $4billion. It makes it extremely hard to fix technical issues just because of it's value. It can never really get out of the beta status and fix the real issues.

Mr. Contradiction, from where did you buy your crystal ball ?

Kindly tell me as your crystal balls sucks tbh !!

Lol, not perfect, but has there ever been a technology where the first implementation where the successful one in the long run? 

Did you hear about the internet ?

[esse83]

We are now looking at the next huge wave down last seen summer 2014 (ofc with some bounces), we might find some ground at 230 (longterm trendline since april 2013) - if it fails we collapse into 1xx and then double digits.

Right now the price is $250 - advice, short.

If it comes true double digits will be around december this year (2015). My guess is $77.

Saved for future reference.

Edit: Within a year I also expect bitstamp & bitfinex to collapse (bankruptcy).

[Chef Ramsay]

We now have four red candles in a row on the weekly chart. That hasn't happened since the crash last winter.

interestingly, we're still down less than 50% for the last twelve months which means we're STILL out performing WTI crude. Is oil dead?

Comparing bitcoin to crude is meaningless. Sorry, but it's true.

I doubt the comparison has anything to do w/ the dynamics behind these commodities but rather the volatility in relation to each in the eyes of institutional investors. As he mentioned before, bitcoin is becoming a more respected asset class when you factor in the disaster that is oil the last year.

[billyjoeallen]

Boom

http://www.zerohedge.com/news/2015-08-18/seeking-alternatives-1000-bitcoin-atms-are-coming-greece

Got yer coinz, Bitches.

[Fakhoury]

Boom

http://www.zerohedge.com/news/2015-08-18/seeking-alternatives-1000-bitcoin-atms-are-coming-greece

Got yer coinz, Bitches.

The future is ours dear

I'm ROFLING at this bear trap, as gotmilk_ said, whales need more coins and me as well although I'm a jellyfish and not a whale  

[Ducky1]

Well, it seems to me after watching some of the technical debates that bitcoin has a serious problem with the beta status and a value of $4billion. It makes it extremely hard to fix technical issues just because of it's value. It can never really get out of the beta status and fix the real issues.

Mr. Contradiction, from where did you buy your crystal ball ?

Kindly tell me as your crystal balls sucks tbh !!

Lol, not perfect, but has there ever been a technology where the first implementation where the successful one in the long run? 

Did you hear about the internet ?

The internet can be equaled to the blockchain, not to a particular implementation of the blockchain called bitcoin. Saying that bitcoin IS the only possible blockchain is a like saying  Mosaic is the only possible internet browser.

[sAt0sHiFanClub]

Well, it seems to me after watching some of the technical debates that bitcoin has a serious problem with the beta status and a value of $4billion. It makes it extremely hard to fix technical issues just because of it's value. It can never really get out of the beta status and fix the real issues.

Mr. Contradiction, from where did you buy your crystal ball ?

Kindly tell me as your crystal balls sucks tbh !!

Lol, not perfect, but has there ever been a technology where the first implementation where the successful one in the long run? 

Did you hear about the internet ?

The internet used NCP ( under arpanet) until 1983 when they changed protocol to tcp/ip.

[Fakhoury]

Well, it seems to me after watching some of the technical debates that bitcoin has a serious problem with the beta status and a value of $4billion. It makes it extremely hard to fix technical issues just because of it's value. It can never really get out of the beta status and fix the real issues.

Mr. Contradiction, from where did you buy your crystal ball ?

Kindly tell me as your crystal balls sucks tbh !!

Lol, not perfect, but has there ever been a technology where the first implementation where the successful one in the long run? 

Did you hear about the internet ?

The internet can be equaled to the blockchain, not to a particular implementation of the blockchain called bitcoin. Saying that bitcoin IS the only possible blockchain is a like saying  Mosaic is the only possible internet browser.

And who came with the blockchain, isn't bitcoin ?

[sniveling]

We are now looking at the next huge wave down last seen summer 2014 (ofc with some bounces), we might find some ground at 230 (longterm trendline since april 2013) - if it fails we collapse into 1xx and then double digits.

Right now the price is $250 - advice, short.

If it comes true double digits will be around december this year (2015). My guess is $77.

Saved for future reference.

Edit: Within a year I also expect bitstamp & bitfinex to collapse (bankruptcy).

Why do you think those two exchanges will go bankrupt and not the others? Which exchanges do you think won't go bankrupt? Bitfinex provides shorting options which some people speculate might lead to bankruptcy if an extreme crash happens. However Bitstamp doesn't allow shorting, so why do you think it might go bankrupt, unless you think it has unsustainable debts remaining from when it was hacked?

[Ducky1]

Well, it seems to me after watching some of the technical debates that bitcoin has a serious problem with the beta status and a value of $4billion. It makes it extremely hard to fix technical issues just because of it's value. It can never really get out of the beta status and fix the real issues.

Mr. Contradiction, from where did you buy your crystal ball ?

Kindly tell me as your crystal balls sucks tbh !!

Lol, not perfect, but has there ever been a technology where the first implementation where the successful one in the long run? 

Did you hear about the internet ?

The internet can be equaled to the blockchain, not to a particular implementation of the blockchain called bitcoin. Saying that bitcoin IS the only possible blockchain is a like saying  Mosaic is the only possible internet browser.

And who came with the blockchain, isn't bitcoin ?

Yes, the inventors of Bitcoin invented the blockchain. Since then there are already hundred, if not thousands of implementation's on the market with various improvements and variations from bitcoin's implementation. The only reason bitcoin is still largest is because of it's first mover advantage and widespread adoption. Which is also it's handicap since it's so difficult to change obvious flaws.

[fonsie]

Well, it seems to me after watching some of the technical debates that bitcoin has a serious problem with the beta status and a value of $4billion. It makes it extremely hard to fix technical issues just because of it's value. It can never really get out of the beta status and fix the real issues.

Mr. Contradiction, from where did you buy your crystal ball ?

Kindly tell me as your crystal balls sucks tbh !!

Lol, not perfect, but has there ever been a technology where the first implementation where the successful one in the long run? 

Did you hear about the internet ?

The internet can be equaled to the blockchain, not to a particular implementation of the blockchain called bitcoin. Saying that bitcoin IS the only possible blockchain is a like saying  Mosaic is the only possible internet browser.

And who came with the blockchain, isn't bitcoin ?

Yes, the inventors of Bitcoin invented the blockchain. Since then there are already hundred, if not thousands of implementation's on the market with various improvements and variations from bitcoin's implementation. The only reason bitcoin is still largest is because of it's first mover advantage and widespread adoption. Which is also it's handicap since it's so difficult to change obvious flaws.

You better start fixing those obvious flaws then, it's open source, instead of complaining here.

[pinky]

I wonder how people will try to close their longs with this massively dwindling support.

Like always, without any problem.

[Dump3er]

...traps set by government infiltrators and bankster saboteurs

There we go again  

 

[Morecoin Freeman]

The bear trolls are back.

[IDKwhatimdoing]

I wonder how people will try to close their longs with this massively dwindling support.

Like always, without any problem.

I guess that's one way of looking at it...

head up and go forward

[TerraMaster]

We now have four red candles in a row on the weekly chart. That hasn't happened since the crash last winter.

interestingly, we're still down less than 50% for the last twelve months which means we're STILL out performing WTI crude. Is oil dead?

lol, bitcoin has the same problem as oil... plenty of it and no demand! 

But still both have a place in the world lol

[hdbuck]

gentlemen, it is now or never to sell >250$.

[inca]

Been extremely busy over the last two weeks but we seem to have become awfully bearish over what is actually a non-event in actual economic terms for bitcoin.

If bitcoin evolves to be a bitcoin-xt chain then bitcoin will potentially scale as transaction demand rises in the coming months/years. If bitcoin remains derived from reference Core clients then nothing is likely to change until the blocksize limit is reached, at which stage the majority of hashing power will simply fork for purely economic reasons and choose to scale - bitcoin Core developers be damned.

The end result to the user is zero for at least another year. High drama of course for the speculators.

Remember the long term log downtrend is currently at ~225. So even in this fabricated existential crisis we are still 25 dollars above that even now.

If we turn upwards before 220 then this is still a bullish recovery in the intermediate term.

[BitofaN1]

Holy crap!