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

[molecular]

What is happening with bitcoin right now? What are the reasons for this price rise?

Bitcoin is "the shit" and more and more people get that.

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[Cconvert2G36]

Famous last words but... I expected stronger dumpage after that run.

The hodl is strong at the moment.

[ChartBuddy]

Coin

Explanation

[molecular]

also, for the millionth time, increasing the blocksize will not bring moar people to bitcoin.

who said it would?

the fear of the people in favor of a blocksize increase is that keeping it at 1MB will drive people away once blocks become full.

[hdbuck]

also, for the millionth time, increasing the blocksize will not bring moar people to bitcoin.

who said it would?

the fear of the people in favor of a blocksize increase is that keeping it at 1MB will drive people away once blocks become full.

them forkers said so.. repeatedly.

and please, be my guest if you are afraid of 1MB not being even half full on average by now. seems like the perfect timing to get out whilst you can, maybe go eth??!...

anyway, i'd argue that what is most likely to drive people (the people that actually 'bought in', not the futuristic mass sheeples) away is precipitation, untested conjectures, and abhorrent simplification of a non issue to fix something that is not broken whilst breaking the decentralized P2P consensus model bitcoin relies on.


you are free to buy whatever altcoin you want, run whatever client, just stop spreading fud and lies in order to get your agenda/vision highjacking bitcoin.

and choochoo mofo! im not transacting an inch now.. this is how bitcoin works best. rising and holding.

[wutizurkwest]

Got a call 20 minutes ago from an old friend working for Citibank in Bahrain (remind you, it is 6:48 AM where i am -yes, still awake:). TLDR: "please get me some BTC, am just back from a conference about "blockchain" in Dubai". 'nuf said.  

This is the kind of thing that makes me think the price won't even pause at $1000 or $10000 on the way up.

[TReano]

Got a call 20 minutes ago from an old friend working for Citibank in Bahrain (remind you, it is 6:48 AM where i am -yes, still awake:). TLDR: "please get me some BTC, am just back from a conference about "blockchain" in Dubai". 'nuf said.  

This is the kind of thing that makes me think the price won't even pause at $1000 or $10000 on the way up.

yea lets go straight for $1000000000000000000000000000000000000000000000000000000000000000000000000000000

[ChartBuddy]

Coin

Explanation

[marcus_of_augustus]

IF we are heading back to resume/retake the exponential growth trend, and I see no reason why not now infrastructure, etc concerns have been anti-fragiled away, then there is quite some catch-up to be done.

Also at some point we have to hit some VERY steep price growth on the sigmoid curve such that on long term scales looks like a SINGULAR event when bitcoin was adopted (speculatively on price) as the network effect flipped over the tipping point from less than 25% using to more than, i.e. it becomes cost prohibitive to NOT be using the bitcoin network when more than 50% of your economic peers are already using it. Like when you felt you just had to have  electricity, car, radio, TV, computer, smartphone, etc, etc because you were being left behind by not having one.

Bitcoin's singular event due to crossing the network effect threshold, if it ever happens, is still ahead of us, in case you were wondering how crazy it could get ...

[Globb0]

OK so lets say hundreds of you guys are HODLERs with thousands of coins each.

What would be your check out point?

Do you worry about the other thousands of early adopters who must be waiting also to cash out ?

[Elwar]

I see this upward movement as an end to the bear market. There has been a lot of good news over the past year but the price constantly declining has kept investors at bay. Now that the price is not on a downward spiral we will have a lot more investors projecting future profits. Those months hanging around $230 basically put an end to the downtrend.

[marcus_of_augustus]

OK so lets say hundreds of you guys are HODLERs with thousands of coins each.

What would be your check out point?

Do you worry about the other thousands of early adopters who must be waiting also to cash out ?

All In ... checked out of fiat... you really don't get it do you? It's not about the money, its about sending a message to petty would-be tyrants.

Noone's "waiting to cash out" ... they already did, out of fiat crap money.

[spiderbrain]

OK so lets say hundreds of you guys are HODLERs with thousands of coins each.

What would be your check out point?

Do you worry about the other thousands of early adopters who must be waiting also to cash out ?

Bitcoin, or another crypto, is in my opinion very likely to end up a trillion dollar market at some point. So my plan consists of selling out gradually as it approach that market segment while keeping an eye on crypto technology in general for potential replacements for the top spot. If other people sell earlier than me, so what. Some people thought it was a good idea to go full fiat at $10. In the mean time it's a great hedge against the global debt based fiat banking system eating itself, which it constantly threatens to do.

[marcus_of_augustus]

blockchain is the wrapper, bitcoin is the payload.

payload has just been delivered to the heart and minds of the best and brightest inside the global financial system in technically unambiguous terms ... sit back and watch.

[600watt]

kraken € is almost catching btc-e $.  if it goes on like that, it will catch huobi 

[dre1982]

Looks like it's gonna test the $380. Who had thought that a few weeks ago.

[Globb0]

All In ... checked out of fiat... you really don't get it do you? It's not about the money, its about sending a message to petty would-be tyrants.

Noone's "waiting to cash out"

No one? OK I guess I don't get it. Every bitcoin owned is a political statement, not an investment, right.

[Spaceman_Spiff]

OK so lets say hundreds of you guys are HODLERs with thousands of coins each.
What would be your check out point?
Do you worry about the other thousands of early adopters who must be waiting also to cash out ?

Most will diversify.  Quite a few will HODL or even accumulate more given the general mindset of the early bitcoin adopter. 

About everbody waiting to cash out: this process is taking place all the time.  People were saying "aren't you afraid people will sell out at $100, $1000 etc. (and most likely at $1 and $10 too)". If you believe bitcoin has true value, and is currently not overpriced, then you shouldn't worry about this in the long term (though psychological price points might play a role in short and middle-term speculation).

[Room101]

All In ... checked out of fiat... you really don't get it do you? It's not about the money, its about sending a message to petty would-be tyrants.

Noone's "waiting to cash out"

No one? OK I guess I don't get it. Every bitcoin owned is a political statement, not an investment, right.

The people with thousands didn't buy them, they mined them. And they did that either because they are interested in all thing crypto, or all things non-fiat.

[re-actor]

$46 spread between BTC-e and Huobi 

Can someone explain this?

It's really hard to get fiat into BTC-e apparently.

Kraken "the lazy one" is above BTC-e. What a chutzpah!!