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

[dloghwak]

Right. You're buying shares of a corporation which does nothing but print its own shares, albeit extremely inefficiently (mines BTC).
You are buying these shares in hopes that a greater fool will eventually buy them from you.
You know what that's commonly called?

Actually I'm buying shares of corporations which do produce cars,computer,tablets and a lot of other products.
You are still the only one comparing Stocks with Bitcoin.

Explain this shit:

Good point. Because everyone wants to use a currency they can't use because it doesn't work

yea right who the he'll wants stocks you can't use

That's not what I wrote.
I wrote "You don't understand stocks much do you?"
Simple explanation: I thought you meant actual shares of a corporation.

[Elwar]

Launch scheduled for 4:20PM CST.

Nice...with the activity of 420.

[Fatman3001]

my friend has been diagnosed with a bad disease.

off topic: go be healthier, all of you.

Sorry to hear

[spooderman]

when you guys start talking about the 5 figure amounts i start thinking you're all mental.

then i remember how mental 460 seemed 3 years ago....

[peonminer]

Launch scheduled for 4:20PM CST.

Nice...with the activity of 420.

Dem bearz in FOMO headlights effect is about to begin.

when you guys start talking about the 5 figure amounts i start thinking you're all mental.

then i remember how mental 460 seemed 3 years ago....

"Waiting for $175 c0ainZ, dats my strength signaLOL to go l0ngZ!"

[JimboToronto]

Launch scheduled for 4:20PM CST.

Nice...with the activity of 420.

Dem bearz in FOMO headlights effect is about to begin.

when you guys start talking about the 5 figure amounts i start thinking you're all mental.

then i remember how mental 460 seemed 3 years ago....

"Waiting for $175 c0ainZ, dats my strength signaLOL to go l0ngZ!"

Are we at double digits yet?

 

[inca]

If FOMO hasn't begun to kick in yet, just wait until we tip past 504 and the volume begins to surge..

[Elwar]

Wha wha wha so many whiny bears, you carry on talking about irrelevant bids and asks and ignore the bigger picture, be my guest. But but blocks lol

Halving.
Difficulty increase.
Increased interest.

These are things that are affecting price. I fully expect to see nearer to $100mil in leverage longs when this really starts bubbling.

Good point. Because everyone wants to use a currency they can't use because it doesn't work

As someone who actually uses Bitcoin as a currency. It works.

I'm sure. many children used Chuck E. Cheese coins as a currency too, but that's not what I'm talking about.
I'm talking about full blocks, which would make Bitcoin unusable

Other than getting your money onto an exchange, just sending the transaction has tended to be good enough for any payment I've done.

I've even sent a few people over $10k worth of bitcoins and once they saw the transaction show up that was good enough for them. Of course we had established enough trust by then to make such a transaction possible.

If unclear, I'm not saying you haven't used Bitcoin as money in the past, when there were fewer transactions and the blocks were not full.
What I am saying is that when the blocks become full, as is already happening now & will most certainly happen if more people try to use BTC, Bitcoin will stop to function.
I may accept your payment without waiting for it to be confirmed, just like I may accept your promise that the check's in the mail, *but I can't use it*.

A credit card transaction takes 6 months to confirm and yet people are able to conduct commerce. I don't think there is one thing I've purchased in the past 6 months where there hasn't been a third party service handling the transaction for the company. Those services can wait hours if necessary and still be just fine. On localbitcoins I transfer money from my account to someone else's account in a second.

1. CC transactions do not take 6 months to confirm. One may reverse a CC transaction, that doesn't mean they take 6 months to confirm. So now you know.

2. People are able to use CC due to trusted third parties, the CC companies. Once you introduce trusted third parties into bitcoin transactions, the whole point of Bitcoin, A Peer-to-Peer Electronic Cash System, is lost.
Might as well use CC companies, which are already with us. Unless you're laundering money or buying overpriced, shitty dope

I don't mind transacting with third parties as long as I can hold a deflationary currency.

I tried doing the same with gold back in the day but the costs of a company holding your gold plus the fees for card transactions were not worth it. With Bitcoin I can hold my bitcoins and not incur those fees.

[ChartBuddy]

Coin



Explanation

[Fatman3001]

If FOMO hasn't begun to kick in yet, just wait until we tip past 504 and the volume begins to surge..

FOMO has come and gone. Now it's

-snip-

@Elwar re. 'I don't mind transacting with third parties as long as I can hold a deflationary currency': What are you doing with Bitcoin?! 10+% monetary base inflation, 25BTC printed out of thin air every

I really don't understand how you can't get bored with this.

You're not going to convince Elwar. You're not going to make him look any worse.

You're not really annoying anymore.

Relax. Enjoy the bull run.

Plug in some Rayethons, some Sylvanias and some GEs and let the good times roll.

Your days of barfing out your insecurities on this forum are soon over.

[JimboToronto]

[peonminer]

#StillWaitingOnBetterBuySupport
#175CoinsImminent

[tabnloz]

i really didnt think we'd see a full retarce so soon!

what if we really are >32,000 in < 2 years  

no, but 5000$ is quite likely

then what?

i think we'll see 1000-5000 for a year or 2 and bam 32,000 crash down to 10,000 bubble of the year 2017

by 2020, we're back at 32,000 heading for 100,000.

if bitcoin is very successful we're taking ~1million a coin no joke.

I call max 20,000 before too many issues with scalability,  government,  and competition.  Also,  wherever the theoretical max is, the moon train dumping will begin well before then

I'm trying to get my head around higher price levels in the future and am thinking of it this way - Berkshire Hathaway (or google etc etc) launched at a price range that could attract general individual investors. Mom & Pop could buy a decent amount (though more than what early / insiders got it for). Then as it started to rise many individuals stopped being able to buy a big chunk of shares and could maybe get a handful. Eventually, with continued success and over time, it became part of fund managers portfolios and then part of institutional buying.

By no means a perfect analogy, but when I read back to 2011 the similarities are there. We're still at Mom & Pop stage with a lot more traders in the mix.

[Fatman3001]

>I really don't understand how you can't get bored with this.
I do. But duty as an educator; noblesse oblige and shit...

Educate Elwar?

Good Luck

[JimboToronto]

We're still at Mom & Pop stage with a lot more traders in the mix.

And we're still all early adopters.

[xyzzy099]

>I really don't understand how you can't get bored with this.
I do. But duty as an educator; noblesse oblige and shit...

Educate Elwar?

Good Luck

But the [apparent] futility [and thanklessness] of the task is a reward in itself! Think Sisyphus. Think A Hunger Artist. Think late-1800s dandy reading flowery romantic poesy to a drunk in the gutter

This will forever be my image of you now - the Lamb is dead, long live the Dandy!

[BlindMayorBitcorn]

>I really don't understand how you can't get bored with this.
I do. But duty as an educator; noblesse oblige and shit...

Educate Elwar?

Good Luck

But the [apparent] futility [and thanklessness] of the task is a reward in itself! Think Sisyphus. Think A Hunger Artist. Think late-1800s dandy reading flowery romantic poesy to a drunk in the gutter

This will forever be my image of you now - the Lamb is dead, long live the Dandy!

[Fatman3001]

>I really don't understand how you can't get bored with this.
I do. But duty as an educator; noblesse oblige and shit...

Educate Elwar?

Good Luck

But the [apparent] futility [and thanklessness] of the task is a reward in itself!

hmmmm...

Think Sisyphus.

stupid

Think A Hunger Artist.

stupid

Think late-1800s dandy reading flowery romantic poesy to a drunk in the gutter

stupid

*And, of course, meaning through repetition. Sisyphus again. And that king who hated Krishna.

stupid

Ok, I'm thinking "stupid" now. Now what?

[size= 1pt]then there's the occasional lel, too.

meh...

[billyjoeallen]

Follow this train of logic:

1.Difficulty goes up because blocks are being produced at a rate greater than 1 every ten minutes.
2.Blocks are  mined at a slower rate at a higher difficulty with the same hash rate
3. So confirmations will take a little longer right around the same time a lot of blocks are filling up.

This might be a very opportune time for a spam attack. That combined with blocksize deadlock and the Fed possibly raising interest rates for the first time in seven years means the next 24 hours are critical.

[Wandererfromthenorth]

I understand adoption blah blah blah and that this is a good long term and mid term bet.  My analysis are for trading purposes and things like
-should I enter into a margin long right now?
-is the liquidity of the exchange growing?
-is fresh fiat being injected masse right now?
-will it simply consolidatine and go sideways for another three months, or is it breaking out right at this instant?
-could one small market dump cause a margin reaction and liquidate me?

Margin trading is a different game than investing.  I need to know these things.

I understand sell walls don't have much of an affect in bitcoin. However,  bid walls are somewhat more meaningful,  and I'm usually discussing the bid side.

Liquidity on the exchanges is getting better, bid side growing.

http://coinsight.org/huobi
http://coinsight.org/bitstamp

Trend on the Daily and Weekly charts still looks good, don't see any reason why rally should stop for now.

Personally I'm not bothering with margin trading right now.
I tend to use margin to day trade or swing trade when market is in a long term consolidation (like all 2015 pretty much, from February to October), a lot less when heavily trending. Since the low $300s BTC has been position trade material for me, so I just mostly sit in BTC and wait.