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Question: What happens first:
$65,000 - 59 (86.8%)
$48,000 - 9 (13.2%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26336509 times)
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Topbanker
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August 24, 2015, 10:12:21 PM

only a nutcase would step into BTC right now...
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August 24, 2015, 10:13:00 PM

only a nutcase would step into BTC right now...

agreed time to buy.
dreamspark
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August 24, 2015, 10:13:28 PM

Down we go again.

I surely see the downward momentum.. yet I find it somewhat surprising that bitcoin prices seem to be gong down at a very similar, if NOT greater rate than fiat markets.. ...

Yes, yes yes... fork issues...

Nonetheless.. in spite of fork issues, I would have expected BTC prices to move somewhat contrary to fiat markets... whether short term or long term...  and in spite of fork issues...

Bitcoin should be a good hedge.. and a decent investment...   Accordingly, Fiat markets going down should indicate that BTC are to be going up... no?

When markets crash like this, cash is king.

Who in their right mind is gonna liquidate their stock holding etc and then throw their money in something that just lost 30% of its value in a week. Do you think people are retarded?!



Also nice post Alex, covered pretty much what I would have replied.
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August 24, 2015, 10:15:05 PM

only a nutcase would step into BTC right now...

agreed time to buy.

Yeah sent a lot of euro's to Kraken, they will be there tomorrow! =D
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August 24, 2015, 10:15:24 PM


A good point at first sight, however there's quite a lot of dollars created out of thin air on a daily basis. The inflation with BTC is also quite high but it is in keeping with the growing demand.

And that is exactly the point, the value can only rise if demand becomes much much higher. I can only imagine that happening if a whole lot of new people start using it. Hundreds of millions preferably. If it's only a couple of investors' toy it will never be worth much, at least not for a long stretch of time.


I'd say something can only be a widely used currency once it's become a trusted store of value, especially when it's entirely voluntary like Bitcoin always will be. Regardless of shenanigans and debasement, that's what the USD means to people all around the world. They know it'll still be worth something at the end of the month and that's why they swap their local currencies for it wherever they can.

yea, but it will never reach 100k euros or pounds for that matter.

and it will collapse ultimately. you know it, else there is no incentive for *investing* in bitcoin, and hope it would set off to moon, because it could not compete with the dollar anyway.
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August 24, 2015, 10:15:32 PM

Down we go again.

I surely see the downward momentum.. yet I find it somewhat surprising that bitcoin prices seem to be gong down at a very similar, if NOT greater rate than fiat markets.. ...

Yes, yes yes... fork issues...

Nonetheless.. in spite of fork issues, I would have expected BTC prices to move somewhat contrary to fiat markets... whether short term or long term...  and in spite of fork issues...

Bitcoin should be a good hedge.. and a decent investment...   Accordingly, Fiat markets going down should indicate that BTC are to be going up... no?

Cut your loose!!! Should have listened to falllling before it was too late? Sell now or sell sub 100, no big difference anymore. Cut your loose JJG, however cut your loose!


Store of value, laughin my ass off. Shlud have bough ptatoes or rice!
julian071
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August 24, 2015, 10:18:54 PM

Good night and good luck everyone!
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August 24, 2015, 10:20:18 PM

Down we go again.

I surely see the momentum.. yet I find it somewhat surprising that bitcoin seems to be gong down at a very similar, if NOT greater rate than fiat markets..


In other words, I would have expected BTC to move somewhat contrary to fiat markets... whether short term or long term...

Fiat markets going down should indicate that BTC is going up... no?

Do you think that after a nuclear blast people will rush to buy helmets?

WTF?  There has been a nuclear blast?  When?  Where? 

I thought that there was merely a loss of confidence and a bit of a dispute regarding which road to take, but we are still on the road anyhow, heading in the same overall direction, no?
JayJuanGee
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August 24, 2015, 10:25:54 PM

only a nutcase would step into BTC right now...


If I found $5,000 on the street in an apparently abandoned shopping bag that I was considering investing into Bitcoin and/or possibly investing that unexpected arrived upon quantity of money into other investments for the medium term (maybe 2 to 4 years), I don't see any real problem in putting 10% or 30% or more of that money into BTC at this particular moment.  These are great prices for BTC investing, no?
  Where else should I put it?  leave it in cash?  Where would you put it and for how long?
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August 24, 2015, 10:28:00 PM

Margin longs are going down, not up. $300,000 in dollar swaps closed.  Looks like we won't get another crash.

Just more $220-$320 range trading.

Looks like someone got quoted on Deep Dot Web ... https://www.deepdotweb.com/2015/08/24/bitfinex-flashcrash-post-mortem-analysis/
JayJuanGee
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August 24, 2015, 10:29:06 PM

Down we go again.
I surely see the downward momentum.. yet I find it somewhat surprising that bitcoin prices seem to be gong down at a very similar, if NOT greater rate than fiat markets.. ...

Yes, yes yes... fork issues...

Nonetheless.. in spite of fork issues, I would have expected BTC prices to move somewhat contrary to fiat markets... whether short term or long term...  and in spite of fork issues...

Bitcoin should be a good hedge.. and a decent investment...   Accordingly, Fiat markets going down should indicate that BTC are to be going up... no?

Cut your loose!!! Should have listened to falllling before it was too late? Sell now or sell sub 100, no big difference anymore. Cut your loose JJG, however cut your loose!


Store of value, laughin my ass off. Shlud have bough ptatoes or rice!


NOT a great time to sell... maybe sell 1 bitcoin or 1% of holdings or less, just for fun... but overall this seems more like the time to be buying, rather than selling...
 Tongue Tongue Tongue Roll Eyes Roll Eyes Roll Eyes
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August 24, 2015, 10:30:12 PM

only a nutcase would step into BTC right now...


If I found $5,000 on the street in an apparently abandoned shopping bag that I was considering investing into Bitcoin and/or possibly investing that unexpected arrived upon quantity of money into other investments for the medium term (maybe 2 to 4 years), I don't see any real problem in putting 10% or 30% or more of that money into BTC at this particular moment.  These are great prices for BTC investing, no?
  Where else should I put it?  leave it in cash?  Where would you put it and for how long?

ETH! forever.

i'm only kidding.
xxxxxzzzzz
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August 24, 2015, 10:35:59 PM

*sigh*

another day another couple hundred dollar bills on the bonfire ...

since the start of the year from above 300 plunged to sub 200 then punched back up above 300 slammed back into low 200 pushed back above 300 slammed back into the low 200 pushed back above 300 again and now punched briefly below and now sitting in the low 200s. so yeah ... if anyone hasn't figured it out yet 300--->200--->300--->200--->300--->200--->300--->200--->golly gee what happens next i wonder ? ... and use whatever reason or no reason at all to justify these movements which we all know is pure manipulation ... you think the bitcoin summit meeting / whales / manipulators / exchange operators miiiiiiight just maaaaybe have decided on a set trading range ? all's i know is low 200s or anything below = BUY and if/when we get back to the 300s it's SELL ... again and again and again. someday we'll reach the halving in ohhhhh 10 months or so and someday we'll get the gemini launch. that'll be nice for hopefully shifting from 200/300 range to 300/400 range. meanwhile this xt bullshit has what? 0.3% of the network bothering with it (probably nearly all outdated otherwise OFF old asics) and the other 99.7% is sticking with core ... so yeah ...
JayJuanGee
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August 24, 2015, 10:38:16 PM

Down we go again.

I surely see the momentum.. yet I find it somewhat surprising that bitcoin seems to be gong down at a very similar, if NOT greater rate than fiat markets..


In other words, I would have expected BTC to move somewhat contrary to fiat markets... whether short term or long term...

Fiat markets going down should indicate that BTC is going up... no?

Do you think that after a nuclear blast people will rush to buy helmets?

WTF?  There has been a nuclear blast?  When?  Where? 

I thought that there was merely a loss of confidence and a bit of a dispute regarding which road to take, but we are still on the road anyhow, heading in the same overall direction, no?

No.  
When it comes to money, folks want to be fairly confident that it won't be worthless tomorrow because a bunch of coders couldn't play nice together.  Bitcoin's claim to fame was being "antifragile" (can you think of a goofier word?)--immune to the wacky doings of flaky humans.  Now we learn that it just ain't so.  That a couple of well-connected d00ds could devalue it into oblivion.

Sure, many knew this from the git-go, but now we got empirical proof that even the faithful can't deny.
That sort of thing doesn't inspire confidence.  

That still is NOT the equivalent of a nuclear blast, but maybe i will concede that we are experiencing some kind of a breakdown in our vehicle.. like we may have put too low of octane, and it is sputtering somewhat and not running too well while we are still having difficulties deciding which road to take and/or figuring out exactly who is the decision maker.. and we have to rely upon consensus, to some extent rather than just driving ourselves the way that we would prefer to go..


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August 24, 2015, 10:49:38 PM


Wasteland is right, confidence is one major "selling point" of Bitcoin. This kiddy nerd fights are for sure not helping in that regard. It seems like several billions have been handed to some teenagers.
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August 24, 2015, 10:54:38 PM

The broader issue is still that society isn't waking up to the need for crypto. Sure there are problems with BTC but if people actually cared about using it then an altcoin would have shot to the moon by now to take its place, even if temporarily. If the power is held by exchanges, then miners then merchants and consumers are down the bottom, then we're probably at the complete opposite of where we need to be.

There are no consumers. Just speculators.
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August 24, 2015, 10:59:56 PM

The broader issue is still that society isn't waking up to the need for crypto. Sure there are problems with BTC but if people actually cared about using it then an altcoin would have shot to the moon by now to take its place, even if temporarily. If the power is held by exchanges, then miners then merchants and consumers are down the bottom, then we're probably at the complete opposite of where we need to be.

There are no consumers. Just speculators.

yes, this makes sense.
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August 24, 2015, 11:00:09 PM

The broader issue is still that society isn't waking up to the need for crypto. Sure there are problems with BTC but if people actually cared about using it then an altcoin would have shot to the moon by now to take its place, even if temporarily. If the power is held by exchanges, then miners then merchants and consumers are down the bottom, then we're probably at the complete opposite of where we need to be.

There are no consumers. Just speculators.

Very well said. Indeed the main issue with digital currencies is that there are no consumers. A few thousands users of this forum is the digital currency community worldwide - that's all. Sad and pathetic what Satoshi's remarkable innovation became - a speculative asset without connection to real world use cases.
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August 24, 2015, 11:02:28 PM

Coin
Explanation

JayJuanGee
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August 24, 2015, 11:08:49 PM


Wasteland is right, confidence is one major "selling point" of Bitcoin. This kiddy nerd fights are for sure not helping in that regard. It seems like several billions have been handed to some teenagers.



The nature of any politics results in squabbling that appears like kid fights, that is NOT so unusual as  you are making it out to be...

Yes, surely, there is an ongoing lack of confidence that drives the price downward, and fearmongerers that also contribute to negative sentiments...

At the same time, we could go down either road and still be o.k.... our vehicle is still intact.... and mobile and capable of taking us in either direction, so long as we can agree to who is driving and whether we go 40mph or 80mph... and whether we pull the trailer or leave it at the campsite...
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