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

[JimboToronto]

Is there really a genuine rebittance market? I thought that was an urban legend?

I thought that was Bitcoin's main purpose, not as the vehicle for speculation that it seems to have become.

Has a valuable asset transfer tool become just another roulette wheel or slot machine?

[bitebits]

It just occurred to me that @$456, assuming miners are on average selling all their coins, the market has to absorb $1.6 million in sales just to stay at the same price.  You gotta wonder how long bulls can keep that up, considering we're going to run out of room in blocks in the next couple of months at this rate.

The market can be irrational way longer than your shorts can. That on top that the market does not seem to be overheated at the moment.

[ChartBuddy]

Coin



Explanation

[spooderman]

Is there really a genuine rebittance market? I thought that was an urban legend?

I thought that was Bitcoin's main purpose, not as the vehicle for speculation that it seems to have become.

Has a valuable asset transfer tool become just another roulette wheel or slot machine?

it's a valuable asset that is easy to transfer. it wouldn't be that if people couldn't gamble with it.

[GreekGeek]

Don'the know about you guys but
I have a feeling that someone is buying large amounts of coins offmarket

[GreekGeek]

I was right, we are about to do a +10x to $3200

[BlindMayorBitcorn]

Is there really a genuine rebittance market? I thought that was an urban legend?

I thought that was Bitcoin's main purpose, not as the vehicle for speculation that it seems to have become.

Has a valuable asset transfer tool become just another roulette wheel or slot machine?

I mean, we know China is using it to transfer value out of the country. But are poor foreign workers really using it??

[spooderman]

460 is such a cocktease

[suda123]

Don'the know about you guys but
I have a feeling that someone is buying large amounts of coins off market

how can you tell?

EDIT: I need you to answer this right now.

[AlexGR]

I was right, we are about to do a +10x to $3200

I was looking at these two a while ago, pretty interesting:

https://blockchain.info/charts/estimated-transaction-volume
https://blockchain.info/charts/estimated-transaction-volume-usd

And of course:

https://bitcoinwisdom.com/bitcoin/difficulty

Bitcoin Difficulty:   79,102,380,900
Estimated Next Difficulty:   93,347,075,656 (+18.01%)
Adjust time:   After 22 Blocks, About 3.1 hours

[JayJuanGee]

I just want to see the same crash of btc price this Christmas Eve than last year, or the year before! 

Cause this flat and constant market is incredibly... boring...

If you just want action, then why do you want a crash?  have you failed to buy in for the past  year-ish?


or you just hating on bitcoin?

We could equally experience excitement, if the price were to crash upwardly.  no?

[flagpara]

I just want to see the same crash of btc price this Christmas Eve than last year, or the year before! 

Cause this flat and constant market is incredibly... boring...

If you just want action, then why do you want a crash?  have you failed to buy in for the past  year-ish?


or you just hating on bitcoin?

We could equally experience excitement, if the price were to crash upwardly.  no?

Well no. I bought when it was low and sold at 450. So the best thing that can happen to me right now is to see price going down like hell so i can buy again =D

But if btc prize go straight up I won't be mad, it will still be good as I always keep a few btc that I don't trade. But I want action  

[Holliday]

Only to fund ISIS and buy child porn. Otherwise, not so much

You must know from experience.

[GreekGeek]

Don'the know about you guys but
I have a feeling that someone is buying large amounts of coins off market

how can you tell?

EDIT: I need you to answer this right now.

I am not authorised to answer  your question  

[r0ach]

Well no. I bought when it was low and sold at 450. So the best thing that can happen to me right now is to see price going down like hell so i can buy again =D

But if btc prize go straight up I won't be mad

[ChartBuddy]

Coin



Explanation

[Richy_T]

Somehow I figured he was talking about me

Nope. Much less than your activity anyway. Just more than the sockpuppets usually get to recently.

[JayJuanGee]

I just want to see the same crash of btc price this Christmas Eve than last year, or the year before! 

Cause this flat and constant market is incredibly... boring...

If you just want action, then why do you want a crash?  have you failed to buy in for the past  year-ish?


or you just hating on bitcoin?

We could equally experience excitement, if the price were to crash upwardly.  no?

Well no. I bought when it was low and sold at 450. So the best thing that can happen to me right now is to see price going down like hell so i can buy again =D

But if btc prize go straight up I won't be mad, it will still be good as I always keep a few btc that I don't trade. But I want action  

It seems to me that if you have to talk your book like that in this thread - especially pushing for a downward BTC price direction, either you are merely trolling or hoping to get attention or you have oversold your BTC holdings and are too emotionally invested in the direction of your own BTC holdings.

As you likely realize, a large majority of posters on this forum are heavily invested in fiat in a large number of ways, including probably their income (or their incoming cashflow) and maybe other investments that they may have made over the years.   That's just the way of the world and our current state of affairs of the fiat dominated systems that currently we are in.

 Accordingly, many participants in this forum (except the trolls) recognize bitcoin as a potential viable way forward that has considerable potential for upward price appreciation.  Therefore, our goals should coincide with accumulation of BTC based on assumptions of upward BTC price appreciation... and if we have been involved in bitcoin for at least a year, we should recognize that currently we are mostly in a bull market in the BTC world and it is safer to trade with that bull market in mind... and if we sell any portion of our BTC holdings to be cautious not to sell too much btc in order that we get too stressed out about and praying for BTC prices to crash.

Actually, there are a considerable number of BTC investors who become too nervous to sell any BTC once it appears to be a bull market and stick with tried and true approaches of hodl, which may or may not be a bad idea - yet each person has to assess his/her own situation to decide what's gonna work for him/her.

Anyhow, in the end, you can trade BTC how you best see fit, and if you feel good taking chances on the possibility of a downward crash in BTC prices, then that's your prerogative.

[GreekGeek]

Some seriously heavy volume. Clearly some institutional investors accumulating.
Exciting times!

You are right , and we can only imagine what is happening  behind  the scenes...

[BitofaN1]

It just occurred to me that @$456, assuming miners are on average selling all their coins, the market has to absorb $1.6 million in sales just to stay at the same price.  You gotta wonder how long bulls can keep that up, considering we're going to run out of room in blocks in the next couple of months at this rate.

The market can be irrational way longer than your shorts can. That on top that the market does not seem to be overheated at the moment.

Anyone here thinks there is a strong correlation between the huge increase in hash rate and the actual price of BTC?
I mean all that mining hardware has to ROI as fast as possible so that miners can see some nice profits.Look at the hash rate graph: https://blockchain.info/charts/hash-rate  
Hash rate jumped from 510mil GH/s  to 770mil GH/s in less than a month.
Now here comes the speculation bit and I could be well off here, but: We all know Chinese miners work close together with Chinese exchanges, maybe too close, if you get what I'm saying.Couldn't they artificially pump up the price so all that mining hardware that must have cost fortunes,
can pay for itself as soon as possible? I'm not saying demand for BTC didn't increase also, but did it almost double in 60 days like the hash rate or the price did? I find that hard to believe.I also think that doubling of the BTC price and maintaining it at that level is a trivial task for China's bitcoin industry.  
Long story short, I think China is way too invested in Bitcoin and is going to try and sell it to the rest of the world, for as high as possible for as long as possible from now on.That's why shorting bitcoin right now seems like a bad idea to me.