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

[gentlemand]

Going broke and your ego trashed isn't a fun way to end a bear market, or is it?

If you're too dim not to realise that nothing lasts forever then you deserve all you get. Hopefully most folks can sniff something in the air before they're ravaged.

[tarmi]

I will clear the way till the next hidden wall with small and regular buys. you panic buy.

[Fiat_Hodler]

shorts and longs going up on bitfinex. cant wait to see some margin calls. Which side will they be on though... dun dun dun daaaah.

[phishead]

I will clear the way till the next hidden wall with small and regular buys. you panic buy.

How many "walls" could you possibly put up?  Ever since I started monitoring this thread, you've been putting up walls since $230 it seems like...

[Cconvert2G36]

I will clear the way till the next hidden wall with small and regular buys. you panic buy.

Speaking in riddles? drunk?

We're here for you Tarmi, bulltards are the yin to your yang.

[Morecoin Freeman]

Will tarmi make it? Not everybody can survive.

[ChartBuddy]

Coin

Explanation

[micky123]

Coin

Explanation

Finally!! Official confirmation that BTC has broken $300... waited for so long!

[billyjoeallen]

Damn!  USD is running 0.06% daily on BFX. more than 10X the interest rate on BTC.

EDIT: now >0.08!

In the past 30 days, we have had a return of nearly 30%, and I calculate that to be approximately 1% per day, on average.  The past month as been a good time to have been in BTC.

By my estimation, we're in a 45 day-ish run that has been reasonable enough to suggest that this isn't a pump and way different than the last few. That's quite some time and likely shouts that we're into something way apart from the last runs. No one can doubt that the halving is or will be having an effect in a large way now or in the short term. Moon? That's right I said it!

I'm gonna pee in you pool a little. If you investment goes down 50% and then goes up 50%, you still have only 75% of what you started with. If BTC was $100, then went down to $50, then back up to $75, that's what I mean.

All of this extra activity related to the Mavrodi pyramid is likely to increase the number of xactions on the network.  If this leads to a backlog,  no fee xactions will probably never get confirmed and fees will go up for anyone who needs their bitcoin transferred in a timely manner, possibly up substantially. 

The power of exponential growth can be truly awesome.  possibly faster. A ponzi scheme needs an ever-expanding pool of suckers to continue.  A collapse is inevitable regardless of the block size outcome. This pump can last for a long time, but if the goddamn blocksize cap isn't raised (or preferably eliminated entirely), it's going to collapse when the network crashes which may be even before Mavrodi runs out of suckers.

Leveraged shorts are going up substantially on BFX, as well as longs.  If I had to guess, there will be a short squeeze before a long squeeze.  Liquidity providers have been caught unprepared for the short term demand of the ponzi.  It cannot last but can go on for months.  When this thing unwinds, we may find ourselves in a new Nash equilibrium below $200.  The fallout will damage Bitcoin possibly even worse than Gox.  Expect more bans and heavier regulation. 

[dothebeats]

As long as China currency control is in place, btc price will continue to move upward.

I'm NOT sure if these are directly correlated, but it seems possible that there could be some connection.

There is always a connection to China and the large pushes in price. A big portion of the volume in the markets comes from China.

[Swordsoffreedom]

Coin

Explanation

Chartbuddy you finally show a 300 Chart
Congratulations ^^
Ha-ha in a good mood.

[spiderbrain]

only 6000 coins to $1k on Bitstamp. Just sayin'.

[Cconvert2G36]

-snip-
All of this extra activity related to the Mavrodi pyramid is likely to increase the number of xactions on the network.  If this leads to a backlog,  no fee xactions will probably never get confirmed and fees will go up for anyone who needs their bitcoin transferred in a timely manner, possibly up substantially. 

The power of exponential growth can be truly awesome.  possibly faster. A ponzi scheme needs an ever-expanding pool of suckers to continue.  A collapse is inevitable regardless of the block size outcome. This pump can last for a long time, but if the goddamn blocksize cap isn't raised (or preferably eliminated entirely), it's going to collapse when the network crashes which may be even before Mavrodi runs out of suckers.

Leveraged shorts are going up substantially on BFX, as well as longs.  If I had to guess, there will be a short squeeze before a long squeeze.  Liquidity providers have been caught unprepared for the short term demand of the ponzi.  It cannot last but can go on for months.  When this thing unwinds, we may find ourselves in a new Nash equilibrium below $200.  The fallout will damage Bitcoin possibly even worse than Gox.  Expect more bans and heavier regulation. 

Do you really think MMM victims in china would throw this much money at the exchanges? Is Mr. Mavrodi hodling the coins vs liquidating them as they come in? As they are basically tx's transferring between the off chain chinese exchanges to the off chain MMM database... do you really see an explosion in tx growth?... (not seeing it here https://tradeblock.com/bitcoin/)

Listen, I agree that increasing the max_block_size is getting critical, and we likely couldn't handle the volumes of a repeat of 2013... I'm just trying to avoid getting hyperbolic on both of these issues. Perhaps that's a mistake... but I'm awaiting more evidence.

[dragonseer]

Damn!  USD is running 0.06% daily on BFX. more than 10X the interest rate on BTC.

EDIT: now >0.08!

In the past 30 days, we have had a return of nearly 30%, and I calculate that to be approximately 1% per day, on average.  The past month as been a good time to have been in BTC.

By my estimation, we're in a 45 day-ish run that has been reasonable enough to suggest that this isn't a pump and way different than the last few. That's quite some time and likely shouts that we're into something way apart from the last runs. No one can doubt that the halving is or will be having an effect in a large way now or in the short term. Moon? That's right I said it!

I'm gonna pee in you pool a little. If you investment goes down 50% and then goes up 50%, you still have only 75% of what you started with. If BTC was $100, then went down to $50, then back up to $75, that's what I mean.

All of this extra activity related to the Mavrodi pyramid is likely to increase the number of xactions on the network.  If this leads to a backlog,  no fee xactions will probably never get confirmed and fees will go up for anyone who needs their bitcoin transferred in a timely manner, possibly up substantially. 

The power of exponential growth can be truly awesome.  possibly faster. A ponzi scheme needs an ever-expanding pool of suckers to continue.  A collapse is inevitable regardless of the block size outcome. This pump can last for a long time, but if the goddamn blocksize cap isn't raised (or preferably eliminated entirely), it's going to collapse when the network crashes which may be even before Mavrodi runs out of suckers.

Leveraged shorts are going up substantially on BFX, as well as longs.  If I had to guess, there will be a short squeeze before a long squeeze.  Liquidity providers have been caught unprepared for the short term demand of the ponzi.  It cannot last but can go on for months.  When this thing unwinds, we may find ourselves in a new Nash equilibrium below $200.  The fallout will damage Bitcoin possibly even worse than Gox.  Expect more bans and heavier regulation. 

So you've sold coins during this rally and you'd rather it doesn't continue - big surprise. The threat of an XT fork caused uncertainty and drove the price down, but now that's dead in the water, and smart money is moving into Bitcoin rather than fiat as a crisis looms over the broader financial market.  As technical issue scaling can be solved in a less divisive fashion down the road, when it actually matters. In the meantime, Bitcoin is looking better and better as a store of value so go piss in someone else's pool.

[tarmi]

no money left on bfx to squeeze shorts.

[Richy_T]

OK, I'm going to bed. Don't disappoint me tonight, people.

[Chef Ramsay]

This prop is going up and that's that. Deal with it and make more from it/

[ChartBuddy]

Coin

Explanation

[marcus_of_augustus]

ponzis and pyramids are uniquely different animals although share many of the same features and incentive structures. A ponzi normally has a single actor or small group coordinating the scheme and profiting directly from the administration and the pyramiding effect of value flowing to the top. A pyramid is like a wave that does not necessarily have a central figure or figures that perpetuate the scheme but can take a life of its own until it burns out.

Most monetary systems have features and incentive structures not unlike pyramids with very long life time scales relative to the earning life time of a human. In some sense they are like life and fire, they will be in existence until they have served their useful purpose, consume all available resources or burn themselves out. And just like fire, small ponzis can start and feed into bigger pyramids that in turn even set ablaze, new long-lived monetary systems.

[dothebeats]

only 6000 coins to $1k on Bitstamp. Just sayin'.

So, should we buy all of it now?