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

[JayJuanGee]

If fiat does collapse to zero, I assure you the last thing on your mind will be bitcoin - it will be how the fuck am I going to survive this day?

You got a good point there, and even though Armageddon is possible, only the real nut jobs plan their whole future (financial and/or otherwise) based on the less likely scenario, while acting as if Armageddon is coming in the next few hours.

[WeltMaster]

Any of you chaps happen to know how the SR coins were actually seized?

I'd assume they got hold of his shit and found the private keys, but some guy seems to think the NSA used their super sekrit backdoor keys to steal them.

Can anyone shed light on this conundrum

[Fatman3001]

Any of you chaps happen to know how the SR coins were actually seized?

I'd assume they got hold of his shit and found the private keys, but some guy seems to think the NSA used their super sekrit backdoor keys to steal them.

Can anyone shed light on this conundrum

He gave them access to them. Life in prison didn't sound too appealing.

[justspare]

Any predictions on where the btc price is going to around January?

[peonminer]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

Microeconomics 2302.

BULLISH. TIME TO BUY!

I told you on the last page.

Did you listen??

                                                                                                                                   Who's your daddy?

[marcus_of_augustus]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

it is well studied, known as Veblen goods ... https://en.wikipedia.org/wiki/Veblen_good

Interestingly with bitcoin it actually has an underlying utility value logic driving the Veblen good phenomenem also, because as the total value of the bitcoin float goes higher (market cap) it becomes more useful to move larger amounts around (across borders) without causing instability, volatility.

So as the value of 1 bitcoin goes higher it becomes more useful to a greater pool of funds, and as we know most of the global fiat wealth is concentrated in very few hands so it is not a linear trend towards more usefulness but accelerates, i.e. it is an exponentially more useful good as the total bitcoin float value increases. It becomes more valuable to an exponentially greater pool of wealth the higher it goes, it is like an exponentially more desirable Veblen good.

[chesthing]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

Tell that to the buyers at $1100 Nov/13.

[chesthing]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

Tell that to the buyers at $1100 Nov/13.

He doesn't have to. They proved it themselves.

Touche'

[peonminer]

If you bought at $1,100.00 and managed to hold on to them all the way down, you're either a very long term believer in hodling, or you don't need to be trading.

[chesthing]

If you bought at $1,100.00 and managed to hold on to them all the way down, you're either a very long term believer in hodling, or you don't need to be trading.

Maybe some killed themselves and their bitcoin are still sitting in wallets, perhaps waiting to double in value next year?

[peonminer]

If you bought at $1,100.00 and managed to hold on to them all the way down, you're either a very long term believer in hodling, or you don't need to be trading.

Maybe some killed themselves and their bitcoin are still sitting in wallets, perhaps waiting to double in value next this year?

FTFY

You could've always shorted those coins on the way down from $1,100 to make some of it back, too. Now is the worst possible time to take out a long term short, btw. This rocket has refueled and is ready for launch.

[marcus_of_augustus]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

Tell that to the buyers at $1100 Nov/13.

... and the buyers at $266 April/13, and the buyers at $32 June/11 ... your point is ??

[chesthing]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

Tell that to the buyers at $1100 Nov/13.

... and the buyers at $266 April/13, and the buyers at $32 June/11 ... your point is ??

My point is don't count on others joining in when the price is really high. This theory has merit, until it doesn't.

[marcus_of_augustus]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

Tell that to the buyers at $1100 Nov/13.

... and the buyers at $266 April/13, and the buyers at $32 June/11 ... your point is ??

My point is don't count on others joining in when the price is really high. This theory has merit, until it doesn't.

noone knows what "high" is, relatively speaking, since the potential pool of buying funds is overwhelmingly massive and the supply of coins is limited and fickle sellers could dry up supply in an instant .... c'est la bitcoin, place your bets, don't whine if you get stopped out, left out or scammed, dyodd.

[JayJuanGee]

If you bought at $1,100.00 and managed to hold on to them all the way down, you're either a very long term believer in hodling, or you don't need to be trading.

Maybe some killed themselves and their bitcoin are still sitting in wallets, perhaps waiting to double in value next year?

It is called dollar cost averaging.  


It is a mere fiction to believe any significant number of people bought at $1,100 and then just sat on their asses for 2 years.


I have already told various levels of details of my story many times in that I bought my first 1.24 BTC at $1500 which adds up to $1,200 per BTC.  

I did not sit on my ass for two years, and now I have many more than 1.24 BTC and my average price per BTC, including various administrative costs and other related fees and expenses is considerably less than $1,200 per BTC.

So, let's get off of the fantastical and speculative topic about these supposed fictitious victims who bought BTC above $1,000

[chesthing]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

Tell that to the buyers at $1100 Nov/13.

... and the buyers at $266 April/13, and the buyers at $32 June/11 ... your point is ??

My point is don't count on others joining in when the price is really high. This theory has merit, until it doesn't.

noone knows what "high" is, relatively speaking, since the potential pool of buying funds is overwhelmingly massive and the supply of coins is limited and fickle sellers could dry up supply in an instant .... c'est la bitcoin, place your bets, don't whine if you get stopped out, left out or scammed, dyodd.

You certainly can tell if a price is high, by looking at the price chart. When bitcoin rose 10x in one month and 100x from the beginning of that year, THAT WAS A FUCKING HIGH PRICE!

[Meuh6879]

... and the buyers at $266 April/13, and the buyers at $32 June/11 ... your point is ??

buyer at 32$ ... have selling at 320$.  
so, the next step /// buyer at 420$, selling at 4200$  

[marcus_of_augustus]

There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.

Tell that to the buyers at $1100 Nov/13.

... and the buyers at $266 April/13, and the buyers at $32 June/11 ... your point is ??

My point is don't count on others joining in when the price is really high. This theory has merit, until it doesn't.

noone knows what "high" is, relatively speaking, since the potential pool of buying funds is overwhelmingly massive and the supply of coins is limited and fickle sellers could dry up supply in an instant .... c'est la bitcoin, place your bets, don't whine if you get stopped out, left out or scammed, dyodd.

You certainly can tell if a price is high, by looking at the price chart. When bitcoin rose 10x in one month and 100x from the beginning of that year, THAT WAS A FUCKING HIGH PRICE!

you're still locked in a get-rich-quick mindset ... on linear scale $32 june/11 and $266 April/13 also looked F#$*& high prices! but on log scale are just blips on the great arc of bitcoin taking over networked global trade and commerce settlement ... it's all relative to time and price.

looking back down from $32,000 it will look like a bargain to get coinz at $1,100, but it might take a while. If you are here to whine about getting stopped out at $200, $300, $400 or whatever and complain about people killing themselves over digital bits because they didn't get rich fast enough don't expect any sympathy. After all it is only money, you can't take it with you when you die and if you're an unhappy whinging poor bastard you'll most likely also be an unhappy whinging rich bastard (even if you did get-rich-quick).

[ChartBuddy]

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Explanation

[LFC_Bitcoin]

Good to see 400 holding at the moment, we survived a half hearted attempt to dump below 400. Hopefully 400 can become the new bottom, that'd be really bullish as we head towards the halving in summer 2016.