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

[ChartBuddy]

Coin
Explanation

[aztecminer]

I can´t put in orders anymore on Bitfinex??? Is anyone else receiving this message:

""Uncaught ReferenceError: submitOrder is not defined. onclick @ exchange:684""


I want to close my positions! Please help, i´m scared of another Bitfinex flashcrash!

sounds like a nightmare.. trapped somewhere scary and cant get out... i dont know how to help you though.... how is the buy wall there ??

[ChartBuddy]

Coin
Explanation

[julian071]

I can´t put in orders anymore on Bitfinex??? Is anyone else receiving this message:

""Uncaught ReferenceError: submitOrder is not defined. onclick @ exchange:684""


I want to close my positions! Please help, i´m scared of another Bitfinex flashcrash!

Top quality FUD, would recommend, A+++

If aztecminer can feed the trolls, I can too!!

[Fatman3001]

What happened to the dump?





Oh noz! How sad.

[ChartBuddy]

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Explanation

[DeathAngel]

What happened to the dump?





Oh noz! How sad.

Shorters getting their asses kicked? What happened? The price just looks like it's been going sideways to me.

[brg444]

I don't think you're being fair. Yes you are doing something by putting a little money into Bitcoin here and there. You are supporting Bitcoin because you want a better monetary system that isn't based on debt, and isn't confined by borders.  When times are lean then it makes sense to stash something valuable away, until it becomes worth more. When the value appreciates again, Bitcoin holders can use their increased purchasing power to support businesses that embrace crypto, rather than cash out. That's what 'many around here' are waiting to do I'm sure.

Buying a bitcoin and doing absolutely nothing with it for 10 years is about as useless to the bitcoin ecosystem as completely ignoring it.

You dont support bitcoin by wanting a "monetary system that isn't based on debt, and isn't confined by borders" .. thats called dreaming. You can support bitcoin by actively seeking out ways that you can integrate bitcoin in your daily life, and maybe provide services to others using bitcoin.

Quite a twisted and erroneous view of economics.

Holders are the ones giving value to the coins.

Ask Rothbard:

Money is just as useful when lying “idle” in somebody’s cash balance, even in a miser’s “hoard.” (At what point does a man’s cash balance become a faintly disreputable “hoard,” or the prudent man a miser? It is impossible to fix any definite criterion: generally, the charge of “hoarding” means that A is keeping more cash than B thinks is appropriate for A.) For that money is being held now in wait for possible future exchange—it supplies to its owner, right now, the usefulness of permitting exchanges at any time—present or future—the owner might desire.

[ChartBuddy]

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Explanation

[ChartBuddy]

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Explanation

[sAt0sHiFanClub]

I don't think you're being fair. Yes you are doing something by putting a little money into Bitcoin here and there. You are supporting Bitcoin because you want a better monetary system that isn't based on debt, and isn't confined by borders.  When times are lean then it makes sense to stash something valuable away, until it becomes worth more. When the value appreciates again, Bitcoin holders can use their increased purchasing power to support businesses that embrace crypto, rather than cash out. That's what 'many around here' are waiting to do I'm sure.

Buying a bitcoin and doing absolutely nothing with it for 10 years is about as useless to the bitcoin ecosystem as completely ignoring it.

You dont support bitcoin by wanting a "monetary system that isn't based on debt, and isn't confined by borders" .. thats called dreaming. You can support bitcoin by actively seeking out ways that you can integrate bitcoin in your daily life, and maybe provide services to others using bitcoin.

Quite a twisted and erroneous view of economics.

Holders are the ones giving value to the coins.  

Its whether or not the next person wants to buy your coin, and for how much, is what gives them value. Not the holder.
If there is no utility, no infrastructure and no potential then there is no market.

[gotmilk_]

So... how familiar sounds that?

https://www.reddit.com/r/BitcoinMarkets/comments/3l82c5/email_from_cftc_regarding_bitfinex_trading/

[brg444]

I don't think you're being fair. Yes you are doing something by putting a little money into Bitcoin here and there. You are supporting Bitcoin because you want a better monetary system that isn't based on debt, and isn't confined by borders.  When times are lean then it makes sense to stash something valuable away, until it becomes worth more. When the value appreciates again, Bitcoin holders can use their increased purchasing power to support businesses that embrace crypto, rather than cash out. That's what 'many around here' are waiting to do I'm sure.

Buying a bitcoin and doing absolutely nothing with it for 10 years is about as useless to the bitcoin ecosystem as completely ignoring it.

You dont support bitcoin by wanting a "monetary system that isn't based on debt, and isn't confined by borders" .. thats called dreaming. You can support bitcoin by actively seeking out ways that you can integrate bitcoin in your daily life, and maybe provide services to others using bitcoin.

Quite a twisted and erroneous view of economics.

Holders are the ones giving value to the coins.  

Its whether or not the next person wants to buy your coin, and for how much, is what gives them value. Not the holder.
If there is no utility, no infrastructure and no potential then there is no market.

There is utility, it's called a store of value with rather unique properties. Bitcoin grew to 3B$ market cap with little utility & infrastructure.

It's really simple, Bitcoin is money and as such as more capital is trusted into it (holders) the higher its value is so it's absolutely wrong to pretend that "buying a bitcoin and doing absolutely nothing with it for 10 years is useless".

[ChartBuddy]

Coin
Explanation

[STT]

It's really simple, Bitcoin is money and as such as more capital is trusted into it (holders) the higher its value is so it's absolutely wrong to pretend that "buying a bitcoin and doing absolutely nothing with it for 10 years is useless".

THe same argument is used when talking about gold and actually I think its correct.     People will point out gold sitting in a bank vault does nothing and serves no purpose however it is utilised by the bank issuing paper against its asset worth.  
Most obviously would be Fort Knox and dollar notes, though there is no fixed relationship the gold is effectively circulated within that system.

So just literally holding bitcoin and doing zero with it in any way is not productive or likely to produce value as the dollar system has managed or any bank with assets but also balance sheet liabilities.    Bitcoin is not worthless and does enable trade however I do think it relies on its usage to create value, so most often casino bets use bitcoin as a cheap way to pay out to their customers worldwide who are then obligied to carry out any translation personally into their local currency.   An efficent system is in play there that encourages business, so value is added.

Im not sure plain btc in a wallet is doing something useful exactly.  In a wallet as I travel overseas and its secure in allowing me to sell my house belongings in one country and then buy goods elsewhere and not risk the worth in the journey.  That example would be useful but most journeys dont take years.  

tl:dr  BTC velocity is high, other assets are likely better long term storage

[kromtar]

So no double digit yet? no doom? 

Keep playing with your toilet monopoly paper and losing bitcoins in the process, diff will moon non stop and halving is near. 

[ChartBuddy]

Coin
Explanation

[Cconvert2G36]

I don't think you're being fair. Yes you are doing something by putting a little money into Bitcoin here and there. You are supporting Bitcoin because you want a better monetary system that isn't based on debt, and isn't confined by borders.  When times are lean then it makes sense to stash something valuable away, until it becomes worth more. When the value appreciates again, Bitcoin holders can use their increased purchasing power to support businesses that embrace crypto, rather than cash out. That's what 'many around here' are waiting to do I'm sure.

Buying a bitcoin and doing absolutely nothing with it for 10 years is about as useless to the bitcoin ecosystem as completely ignoring it.

You dont support bitcoin by wanting a "monetary system that isn't based on debt, and isn't confined by borders" .. thats called dreaming. You can support bitcoin by actively seeking out ways that you can integrate bitcoin in your daily life, and maybe provide services to others using bitcoin.

Quite a twisted and erroneous view of economics.

Holders are the ones giving value to the coins.  

Its whether or not the next person wants to buy your coin, and for how much, is what gives them value. Not the holder.
If there is no utility, no infrastructure and no potential then there is no market.

Very nice ownage/character count density on that rebuttal.

[Cconvert2G36]

BitPay's CFO got phished for 5000 btc in Dec of 14. Oops.

http://www.bizjournals.com/atlanta/news/2015/09/16/atlantas-bitpay-got-hacked-for-1-8-million-in.html

[Fiat_Hodler]

shorters help add liquidity to the orderbooks. We should thank them.