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

[Meuh6879]

[JorgeStolfi]

Wences Casares:
''It is hard to estimate how many people on bitcoins, but it may be somewhere between 13 and 15 million people right now. If Bitcoin is successful we will see hundreds of millions of people own Bitcoin and, eventually, billions. The only way we can get to billions of people owning Bitcoin is by the price going up by several orders of magnitude, let's say $ 1 million (but this is highly speculative and risky). So, if I am right, and Bitcoin has to go from $390 to $1,000,000 the best way for it to get there without crashing irreversibly is with as much volatility as possible. If bitcoin went up a couple percentage points every week and everybody began to think about it as a "sure" thing, investing money that was destined to pay for kids colleges or for retirement, that is a disaster waiting to happen price wise. Because when Bitcoin corrects those people have to sell because they cannot take more losses, potentially creating a vicious circle which is hard to reverse.''

There are only 14 million BTC out there, so if there were 15 million bitcoiners the average bitcoiner would have less than 1 BTC.  Since the distribution is highly skewed, most of those "bitcoiners" would have to own only 0.01 BTC or less.

There are only ~150'000 transactions issued per day, or ~4.5 million per month. If we count as bitcoiners only those people who issue a transaction at least once a month, there cannot be more than 4.5 million.  Again, most of the transactions are generated by a small number of users, so the number of bitcoiners is probably less than 450'000.

Wences is one of the worst snake bit-oil peddlers out there.  By talking about "1,000,000 $/BTC" as if it were an almost sure thing, he has definitely left the "salesman" land and crossed into "scam" territory.

[betterangels]

600 tomorrow

[sartech]

Everybody's been here least once before
We've been here more.... it's a beautiful rise

[LFC_Bitcoin]

Go ahead, party... You think you've already won, but you haven't



Get back is gonna be sweet...

I'm not looking forward to your probable behaviour if this takes a swing in the opposite direction

[Meuh6879]

600 tomorrow

[jeezy]

testing 500 waters again soon, lets see what happens

[Ayle56]

600 tomorrow

Possibly 700, the price keeps increasing exponentially. OKcoin said they had 24 people processing new KYC documents for new accounts, and it's the busiest they've ever seen. As more of those new customers money reaches exchanges the price will keep increasing faster and faster.

[SnokkomBTC]

Wences Casares:
''It is hard to estimate how many people on bitcoins, but it may be somewhere between 13 and 15 million people right now. If Bitcoin is successful we will see hundreds of millions of people own Bitcoin and, eventually, billions. The only way we can get to billions of people owning Bitcoin is by the price going up by several orders of magnitude, let's say $ 1 million (but this is highly speculative and risky). So, if I am right, and Bitcoin has to go from $390 to $1,000,000 the best way for it to get there without crashing irreversibly is with as much volatility as possible. If bitcoin went up a couple percentage points every week and everybody began to think about it as a "sure" thing, investing money that was destined to pay for kids colleges or for retirement, that is a disaster waiting to happen price wise. Because when Bitcoin corrects those people have to sell because they cannot take more losses, potentially creating a vicious circle which is hard to reverse.''

There are only 14 million BTC out there, so if there were 15 million bitcoiners the average bitcoiner would have less than 1 BTC.  Since the distribution is highly skewed, most of those "bitcoiners" would have to own only 0.01 BTC or less.

There are only ~150'000 transactions issued per day, or ~4.5 million per month. If we count as bitcoiners only those people who issue a transaction at least once a month, there cannot be more than 4.5 million.  Again, most of the transactions are generated by a small number of users, so the number of bitcoiners is probably less than 450'000.

Wences is one of the worst snake bit-oil peddlers out there.  By talking about "1,000,000 $/BTC" as if it were an almost sure thing, he has definitely left the "salesman" land and crossed into "scam" territory.

https://www.youtube.com/watch?v=tY1N26TZFAI

That's not true, he said there is a change (20%) that bitcoin will collapse

[BitUsher]

Wences is one of the worst snake bit-oil peddlers out there.  By talking about "1,000,000 $/BTC" as if it were an almost sure thing, he has definitely left the "salesman" land and crossed into "scam" territory.

Agreed. Even if he believes it is likely , one should reframe from suggesting it and act more like Andreas Antonopoulos. I try and focus on the utility with new users like saving 15-30% off amazon and being able to send money with minimal to no fees.

Everybody's been here least once before
We've been here more.... it's a beautiful rise

No , this is unhealthy and violent rise... I would be happier with 1-2% steady gains a day for the next year

[r0ach]

There are only 14 million BTC out there, so if there were 15 million bitcoiners the average bitcoiner would have less than 1 BTC.  Since the distribution is highly skewed, most of those "bitcoiners" would have to own only 0.01 BTC or less.

There are only ~150'000 transactions issued per day, or ~4.5 million per month. If we count as bitcoiners only those people who issue a transaction at least once a month, there cannot be more than 4.5 million.  Again, most of the transactions are generated by a small number of users, so the number of bitcoiners is probably less than 450'000.

Wences is one of the worst snake bit-oil peddlers out there.  By talking about "1,000,000 $/BTC" as if it were an almost sure thing, he has definitely left the "salesman" land and crossed into "scam" territory.

Stolfi, you know damn well what you're typing IS snake oil.  Off-chain transactions (i.e. exchanges and other such services) probably make up a far higher percent of volume than on-chain transactions.  Nothing about Bitcoin being a preservation of wealth tool requires you to mindlessly send it back and forth to yourself all day long.  Bitcoin's current state lends itself to functioning best as a checkbook type device you use to occasionally buy large value items like cars and houses.

[peonminer]

600 tomorrow

Possibly 700, the price keeps increasing exponentially. OKcoin said they had 24 people processing new KYC documents for new accounts, and it's the busiest they've ever seen. As more of those new customers money reaches exchanges the price will keep increasing faster and faster.

Bitcoin got JC like

[yolalanda]

... OKcoin said they had 24 people processing new KYC documents for new accounts ...

Yup, sophisticated investors onboarding the MMM train                            http://2.bp.blogspot.com/-ej9lMoJRer4/U013M5vdZUI/AAAAAAAABh4/ZXxqKSJHygI/s1600/slide03.png

[LEONPATTON]

Butthurt shorters not happy,  what a surprise  
As for me I cant get the damn fiat in to the exchange quick enough.

[Proxiebuier]

600 tomorrow

Possibly 700, the price keeps increasing exponentially. OKcoin said they had 24 people processing new KYC documents for new accounts, and it's the busiest they've ever seen. As more of those new customers money reaches exchanges the price will keep increasing faster and faster.

Im vote to $600 at next day
+10% at next day is enough,
i hope mre good news or other fundamental news to make bitcoin keep strong

[peonminer]

[Richy_T]

The main problem is if you make it as a gif, the interstitial will make it a lot bigger. It really wouldn't be terribly hard to create an actual movie from the data though.

Would it?  Animated gifs have a "frame delay" parameter, so in theory you don't need to repeat frames in order to slow down an animation.  (But I do not know whether browses pay attention to it.)

The extra frame isn't to slow it down, it's to smooth the animation. Instead of jumping from a 7am chart to an 8am chart, you would maybe insert charts for 7:15, 7:30 and 7:45 in between.

[ACAB]

500$ tonight, 600$ tomorrow, 700$ next day, 1000$ next week. Looks good to me.

[BitUsher]

so the number of bitcoiners is probably less than 450'000.

Define "Bitcoiners" as coinbase has 2.7 million KYC verified clients and 4.2 million accounts and they fall outside the jurisdiction of the largest bitcoin userbase. A conservative estimate would be 4-5 million minimum.

https://www.coinbase.com/about

[Richy_T]

I was thinking "Just look at the flowers"