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

[mrkavasaki]

so this is the final capitulation?

[DieJohnny]

is this post from 2009?

[64dimensions]

Some meta speculation:

 Right now for a 0.5 watt per GH miner, the electrical cost (0.08 per KWH) per BTC is around $130. So any idea that BTC would go to some low number is ridiculous. Miners will want to recapitalize in this time period in anticipation of the halving. Recapitalization takes money and also requires the latest mining equipment. One explanation for the dip in BTC could be that investors are spending on new equipment and establishing new BTC mines. It's cold now in the northern hemisphere now, so this is the perfect time to expand.

The bump to $500 is consistent with the above because a miner will want to bank BTC while making a decision on what to buy and how many. This next cycle of capitalization with miners that are 2X more efficient and about 3X more expensive combined with BTC halving complicates the ROI decision.

 I think BTC is on the cusp of being unstoppable. If some nation were to try to exercise control, I could see other countries or commercial entities setting up competing BTC mining operations. The chip technology behind BTC chips is certainly unremarkable and could be copied by anyone.

One other angle in regards to BTC, BTC price jumps and China which is insufficiently appreciated is that BTC can allow money to be transferred out of China quite easily, which gets around currency controls. If some wealthy person needed to move their fortune out fast, I think BTC is the only way to go. FYI, right now people pay a 20% premium to walk their money across the border into HK.

[DieJohnny]

this insanity sure makes bitcoin look like a shitcoin

[connexus]

Why everyone is in panic mode like there's no tomorrow? 

[Tmdz]

The whales have spoken and dumped their coins, but what is their next move.  Up or down, it'll go up eventually there is just too much talk about btc to dedepress it like this for long.  Either way it makes me feel like a peon in this game, were nothing but hoping our overlords will allow us to have nice prices.  Why oh why did they become angry at us!

[rokkyroad]

Well ... that was fun. Time to go home. Party is over. There is always next November for those who missed out.

The party is really over. Yep. See yall next November.

All joking aside, it's pretty damn sad to see btc reduced to a pump&dump toy thing so the all-ready-rich can get richer.  

[noobtrader]

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

https://www.youtube.com/watch?v=KMFOVSWn0mI

[ShetKid]

Well ... that was fun. Time to go home. Party is over. There is always next November for those who missed out.

The party is really over. Yep. See yall next November.

All joking aside, it's pretty damn sad to see btc reduced to a pump&dump toy thing so the all-ready-rich can get richer.  

Sounds like you are new to the boat. This behaviour has been happening repeatedly since last year. We have multiple times jumped from 200 to 300 and vice versa so many times already.

[+EV]

The bulls are delusional. Don't hate on the bears, we would love to see the price rise too, but we think logically enough to see that is simply not going to happen for the time being.

I said this when the price was around 380-400 and there were bulls calling the bottom then saying 'it is only going from here'. Fucking delusional permabulls. 

[Dilla]

$300 holding?

[MatTheCat]

Sounds like you are new to the boat. This behaviour has been happening repeatedly since last year. We have multiple times jumped from 200 to 300 and vice versa so many times already.

Bitcoin has never done this, in all the time I have been watching it.

[rokkyroad]

Well ... that was fun. Time to go home. Party is over. There is always next November for those who missed out.

The party is really over. Yep. See yall next November.

All joking aside, it's pretty damn sad to see btc reduced to a pump&dump toy thing so the all-ready-rich can get richer.  

Sounds like you are new to the boat. This behaviour has been happening repeatedly since last year. We have multiple times jumped from 200 to 300 and vice versa so many times already.

Not so new to get caught on the wrong side of this dump! I'm in fiat baby!

[Tuck Fheman]

I'm in fiat baby!

[DieJohnny]

Sounds like you are new to the boat. This behaviour has been happening repeatedly since last year. We have multiple times jumped from 200 to 300 and vice versa so many times already.

Bitcoin has never done this, in all the time I have been watching it.

Look at the drop after the Nov 2013 bubble, roughly the same dimensions as this one, so not sure what you are talking about...

[DieJohnny]

I get the feeling we are going up for a bit............ maybe bounce to 320 again.....?

[xxxxxzzzzz]

yeah it's fucking hilarious

bitcoin has taught me brand new levels of hatred for rich people and money in general i never thought were possible

despite technically coming out in the black

fuck it im moving to oregon living in a cabin growing legal weed and checking the fuck out hippy style

[DieJohnny]

yeah it's fucking hilarious

bitcoin has taught me brand new levels of hatred for rich people and money in general i never thought were possible

despite technically coming out in the black

fuck it im moving to oregon living in a cabin growing legal weed and checking the fuck out hippy style

I am in the same boat, i am doing ok from an investment point of view but this shit is insane and it feels like JPMOrgan is somehow jerking me around.... fuckers

[Auxi]

Not so new to get caught on the wrong side of this dump! I'm in fiat baby!

[Dilla]

I went against my will of holding forever and sold at $320. Question is, buy now or wait for sub $300?