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

[JimboToronto]

Good morning Bitcoinland. Exciting rollercoaster overnight I see.

Net result: Not much change, still scrapping around $460.

Nothing for long-term holders. I hope some speculators made a bit on the $30 price swing. Then again for everyone who made a profit, someone else took a loss, except the exchanges of course.

$400 fades deeper into the past.

[Vahnt]

836 coin market dump in one shot

fat finger?

[hd060053]

836 coin market dump in one shot

fat finger?

nice useless dump on stamp, china and finxex not following

[adamstgBit]

good support, bulls will be bulls! buy buy buy!  

[Divitiae miserae]

Bitfinex has been leading the dump. If the price goes again below $450 things might get interesting; let's see if the teddybears manage to excite a whale.

[billyjoeallen]

The network is already a tiny bit slower with the difficulty hike.  

? really?

scaling problem

you do understand that eventually miners are going to need money from people transacting, not just block rewards right? next year they become twice as dependent on this... it's an element of bitcoin. and it's not fatal. how else do you keep a blockchain healthy?

Yes, I understand that. We just disagree on how soon that has to happen. If smallblockers get too greedy, WE won't have the adoption rate to sustain the miners when the reward goes away. 
Miner reward= (block reward +xaction fees)* exchange rate.

With a high exchange rate relative to the last six months, the developers have little incentive to address the scaling issue seriously. I have no indication that either blocksize or another scaling solution will be implemented before blocks fill up, fees spike, xaction confirmation times slow down and all this will be effected in the exchange rate. 

Then there are all sorts of other issues with unknown outcomes and I think that this uncertainty hasn't been priced in adequately. I could be wrong, so don't take this as gospel. Time will tell.

[ChartBuddy]

Coin



Explanation

[Fatman3001]

The network is already a tiny bit slower with the difficulty hike.  

? really?

scaling problem

you do understand that eventually miners are going to need money from people transacting, not just block rewards right? next year they become twice as dependent on this... it's an element of bitcoin. and it's not fatal. how else do you keep a blockchain healthy?

Everyone knows the halving is coming. There is no point in subsidizing miners who can't do some simple math. By the time fees are paying for network security we'll need more users making payments and paying fees. Radically higher fees before that point carries a lot of risk.

[dloghwak]

Will we go down from here or up?

Yes

Very funny answer. Yes to what more exactly? Up or down? I guess it's not something you could answer tho..

Yes to no one knows?

[peonminer]

http://fortune.com/2015/12/16/feds-rate-hit-you/

In one of the worst kept secrets in economic history, the Federal Reserve is expected to officially increasing its benchmark interest rate to 0.25% on Wednesday. Martin Hochstein of Allianz Global Investors estimates that investors believe that the Fed will eventually raise the interest rate to 1.2% by 2017. But according to the Fed’s economic projections, rates are likely to reach 2.6% by 2017. Historically speaking, though, Hochstein found that analysts underestimated the last three rate hike cycles. So that 1.4 percentage point difference is a “huge gap that could start some troubles,” added Hochstein.

http://www.ustream.tv/federalreserve




Assets and Liabilities of Commercial Banks in the United States (Weekly) - H.8 - Release Date: December 11, 2015
http://www.federalreserve.gov/releases/h8/current/default.htm




The FED is in worse shape than we thought. Looks like the FED is on a famous down hill Jamaican bobsled team. FED is well on its way to finishing at the bottom first.

[Divitiae miserae]

Wedge end is closing in (UTC+1).

[TERA]

Lol @ 1K -5K being a "major dump".

[ChartBuddy]

Coin



Explanation

[Divitiae miserae]

RIP bulls.

[8up]

RIP bulls.

$380 next - rally in february

[ING Bank]

It should not be too hard to guess the direction from here.
The order book is thinning and everyone is long on overextended margin.
Good luck with holding this price up.

[spooderman]

someone dumps 300 coins and it's "RIP bulls"? really?

[bitebits]

Is there a saying in speculators land that indicates the opposite of 'never catch a falling knife'? Something like 'never exit a moving train'?

[Divitiae miserae]

someone dumps 300 coins and it's "RIP bulls"? really?

Oh, it's just my ex-ante omen, as usual.

[unent]

Is there a saying in speculators land that indicates the opposite of 'never catch a falling knife'? Something like 'never exit a moving train'?

I suppose there's HODL your coins, but it doesn't quite fit the context. Apart from HODL I can't think of any suitable expression except maybe "to the mooooon", or ccmf.