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

[adamstgBit]

The next target is $600
http://www.coindesk.com/wedbush-revises-12-month-bitcoin-price-target-to-600/

lol 12 months till 600, this is one BOLD prediction. 

[adamstgBit]

If we go up and break 500, it's fuckin on bitches.

What is on  it keeps calling us the bitches acting like a bobble head for past 4 hours.
Aint nobody got time fo dat.

will you to fuckwads get a clue, breaking 460 is all that's needed to get it on

[ChartBuddy]

Coin

Explanation

[freedomno1]

The next target is $600
http://www.coindesk.com/wedbush-revises-12-month-bitcoin-price-target-to-600/

lol 12 months till 600, this is one BOLD prediction. 

Well its not going to do that for a while yet
It's locked onto the range of $420 but push it past $500 and that darn attraction to $420 will be resisted

[infofront]

TOO MUCH 420

[mymenace]

ooohhh the $100 swings       500 to 363 to 450





day traders rejoice

[billyjoeallen]

This may be the first real test of the MMM victims and perhaps many of the China expatriators.  Let's see how their nerves hold up.   

I gotta get some sleep. Two packs of cigarettes/day and four hours shuteye just ain't cutting it. 

I'm not too worried. The only people with any fiat right now are bears.  Look at it this way,  The USMS is going to get less $ for their ill-gotten gains.   

[Cconvert2G36]

If it dumps below earlier today's dumpage... gon be bad.

I somewhat doubt it though. That volume was powerful.



get ready to panic

[billyjoeallen]

buy walls vanishing whenever the price gets close. 

C'mon, guys. You can make money on the way down, too.  Instead of catching a falling knife,  just wait for it to bottom out and then load up.   When the blocksize is >1MB, we can all go long max leverage with little fear, but a network that can only service about a half million people is not going to draw institutional investors.

[Fatman3001]

[mymenace]

correction to 320 ish


trap

[JorgeStolfi]

Bitcoin so far has been adopted as a currency only by criminals and scammers.  Adoption for legitimate commerce is tiny, and largely to limited to users who want to push bitcoin for other reasons than its qualities as a payment method.

Why was I so sure that this "argument" would be posted today....  You realize that the currency with the most illegal usages like money laundering, drug money, weapons etc. is the US-Dollar? Heck, if you count in the money from black labour (which is also illegal, iirc), pretty much every currency is used far more for illegal activities and scams.

Btw, your pseudo argument was/is also used for the internet... "99% of the internet traffic and 90% of websites are porn sites" In retrospect, this is actually good news!

Can you see the difference between "uses of bitcoin are mostly illegal payments" and "most illegal payments use bitcoin"?  One is false, the other is true.

[Cconvert2G36]

Bitcoin so far has been adopted as a currency only by criminals and scammers.  Adoption for legitimate commerce is tiny, and largely to limited to users who want to push bitcoin for other reasons than its qualities as a payment method.

Why was I so sure that this "argument" would be posted today....  You realize that the currency with the most illegal usages like money laundering, drug money, weapons etc. is the US-Dollar? Heck, if you count in the money from black labour (which is also illegal, iirc), pretty much every currency is used far more for illegal activities and scams.

Btw, your pseudo argument was/is also used for the internet... "99% of the internet traffic and 90% of websites are porn sites" In retrospect, this is actually good news!

Can you see the difference between "uses of bitcoin are mostly illegal payments" and "most illegal payments use bitcoin"?  One is false, the other is true.

What's the citation on that one professor? Gut feeling? I would say speculation is solidly #1.

[ChartBuddy]

Coin

Explanation

[medialab101]

Crazy volume on Finex  

Also, the sell wall is peaking 35k coins now (mainly one entity) but still heavy resistance to going any lower.

[gizmoh]

The Pump & Dump Reserve currency

Chinese are going to be afraid to Fomo buy now!

[harrymmmm]

-snip-
We've all known for years that bitcoin would shine in crises. We've seen it proven a few times now.
Nothing new about it.
Impossible to predict and exciting to watch tho!

How do you mean? As in "ain't no way Danny Brewster or  Ukyo Jon or friedcat or TF or [...] could've sleezed away with millions in fiat, but Bitcoin really came through," that sort of shine?

Those scams will happen with fiat and bitcoin. Noone shines there.

If I wasn't clear, I meant real crises.
Usually government created, maybe long term, economic/financial crises.
Examples are bank closures and forfeitures, monetary inflation, capital controls, embargos, etc.
Not sure how to package those into a single word other than to call them crises (some short term, some long term).
Which bitcoin will always shine in.

Well no, bitcoin lends itself to scam and crime particularly well, far better than fiat. That's why everyone from kidnappers to pedos to ransomwhare haxxt0rs are starting to use bitcoin. And that's why scams which got burnt down in the fiat real world sometime around the turn of (last) century are getting a new lease on life in bitcon world.

But you say you don't mean those? So tell me, which crises did Bitcoin shine in, specifically? Since "We've seen it proven a few times now"?

You have trouble with reading? Or just comprehension?
I listed the ones I meant. You quoted them above.

Although you've snipped the context of my original reply, do remember it was in the context of capital controls, won't ya?

[JorgeStolfi]

Owning a bitcoin is more like owning a royalty dividend on the intellectual property of the blockchain, than owning a stock.  
The more things the blockchain is used for the more your royalty payment should be worth. Value of bitcoin today = NPV of the value of all the fees on all the future transactions. Bitcoin traders are in effect speculating on future volumes of transactions and speed of adoption. One could argue that recent positive coverage and investment might significantly increase speed of adoption - which would lead to a real reason for a rising price.

That is not true at all.  A bitcoin is NOT a share of intellectual property of the blockchain.  If you own the copyrigt of a movie or the patent of an invention, you get royalties every time someone plays the movie or uses the invention commercially.  But while you are holding the bitcoin, you don't get a single satoshi of royalties, no matter how much the blockchain is used.  And anyone can build another blockchain using the same code but a new genesis block, that does not include your coins; and the miners can choose to mine that one instead of the bitcoin one -- all without paying a dime of royaties.

Rather, a bitcoin is a piece of real estate on some imaginary planet.  The planet has a fixed area, and its land registry is VERY secure, and property titles are easily transferred via the internet.  But the value of that land depends entirely on the fancy of traders, because one cannot do anything with it except buy and sell it.  And anyone can imagine an infinitude of other planets, and sell land on those...

Saying that "the price of stocks too is speculative" is misleading talk of penny stock and bitcoin salesmen.  Stock prices have speculative component, true; but that component has little relevance for long-term investing, because the price stays anchored on the concrete assets and products of the company.  In contrast, the price of an instrument that has no backing assets and pays no dividends, being anchored to nothing, can wander randomly by orders of magnitude, according to the irrational gut feelings of traders and investors.

[Tzupy]

Holy shit... Didn't see this coming...
Bought back while sleeping at 400$ with leverage, now I just woke up and 50% of my yesterday's profits went pufff...
Oh well, at least I'll get some sleep...

[rokkyroad]

Where will the dead cat bounces take us for the bottom? 300 tomorrow?