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

[bargainbin]

@BlindMayorBitcorn: See my edit above. Yes, I'm certain a neckbeard would get ripped off harder by buying on the street
How do studies like that get conducted? Who structures them? Is it failures (those who get popped/end up in hospitals) that comprise the sample of "street buyers"?

[Adrian-x]

Ahh... The Wonder And Beauty of a planned economy.

+1 it's actually quite funny, when libertarians turn into communists.

No whats funny is that bitcoin has fallen victim to the exact same problem, while under control of the exact same PTB.
the existing Financial incumbents are seeing a return on there investment in Bitcoin already, despite the fact that they didn't have to buy one single bitcoin.

welcome to the future.

Didn't you sell your bitcoins anyway? Why do you care?

I mean face it Blockstream won, time to jump ship to a new altcoin. Better luck next time.

thanks for the good wishes, its actual quite a touchy subject crypcy walked away with a sizable portfolio of alts.

for advice to all investors, never sell all your coins. I'd advise buying and selling on probability. if your concerned yes I'm still in the market  , and I'm not looking at Blockstreamm "winning" as you put it, as a long term probability.

if Blockstream has ever "won" we've all lost.

[Adrian-x]

Ahh... The Wonder And Beauty of a planned economy.

+1 it's actually quite funny, when libertarians turn into communists.

bitcoin is not a democracy.

What do you mean? We have rights and liberties to spend Bitcoin on whatever we want, right?

No you have the right to line up or pay to get to the front. oh yes I forgot to mention you can move over to LTC or Monero no lineups. I'm still confused as to why the invested interests in those coins have any say on how long the lineups should be for processing Bitcoin transactions. 

[8up]

the thing is bitcoin won't shrink in size. but it won't grow either. it simply will stay the bonsai size it currently is.

all the money waiting on the sidelines will flow into alt-coins directly.

good luck with your empty bag - so called early adopters of bitcoin.

[BlindMayorBitcorn]

@BlindMayorBitcorn: See my edit above. Yes, I'm certain a neckbeard would get ripped off harder by buying on the street

I got mixed up once and sent Bitcoins to my smack dealer’s Litecoin address. He wasn't impressed.  

[bargainbin]

the thing is bitcoin won't shrink in size. but it won't grow either. it simply will stay the bonsai size it currently is.

all the money waiting on the sidelines will flow into alt-coins directly.

good luck with your empty bag - so called early adopters of bitcoin.

You don't understand. What's gonna happen is people will transact off-chain, maybe consolidate their paltry txs on pay now buy later Lightning Network, and then pipe dream use Bitcoin as the settlement layer, teh backbone, so to say.

The money will roll right in!

[aztecminer]

price will rise before it rises higher.


can't you see it happening?

420 is just the beginning

so whats the target price for February ? 500 600

i think is stuck range 400 - 500 ... bitcoin is selling the halving .

close... i think 350 to 500 is their range they are stuck in .. #paralyzed #GimpCoin

We gotta take bitcoin prices, one step at a time.  We are in a pretty decent "paralyzed" price range at the moment, especially, if you consider where we were 1 year ago... or even if you consider where we were 3 years ago (now, 2 years ago is another story... hahahahahaha)

Anyhow, back on point>>>> If prices go above $467, then to me it seems pretty likely we are going to break past $500, and if we break past $500, then likely the next major resistance point would be between $550 and $650; however, I am not willing to suggest that we are out of the $400s, even if we were to break into the $500s in the next few weeks.

As far as the downside,  $350 does seem like a pretty strong support level, so at this time, it would take a pretty sizeable amount of FUD to convince people to sell below that price point..... Upper $300s is in striking distance, but even that doesn't seem so likely at the moment...... given our paralysis that currently is largely between $416 and $440 (hovering in the upper end at the moment, and cannot really complain about that - unless you are a Mr. Aztec type or a BJA type or some other whiner that is trying to find reasons to complain).  


Edit:  On a side note, even some of the bears seem a bit more cheerful lately with rising prices... so possibly, the solution to a lot of the various whining is to bring up the price past $555 in order that we can experience a kind of Kumbaya moment.

gimpcoin is paralyzed until either scaling is fixed or obama leaves office. u might could go up but u aint going back down below 300 .. the reason i say 350 cuz they need to feel comfortable. it doesnt matter how u try twist it, gimpcoin remains gimped. it is not going down below 300, and it is unlikely to go above 500. i think i mentioned before that anything above 400 was above profit for my cold storage. i'm in the green on exchange and in cold storage. when i say "paralyzed", i'm not really talking about the price of bitcoin.. i am talking about the LOSS OF POWER that bitcoin is enjoying right now. can't go up, can't go down .. fukd. #paralyzed #GimpCoin

[AlexGR]

Spam limit working as intended  

no the transactions centralized control deemed undesirable were not written to the blockchain  but bloated the Mempool, something that was not supposed to happen.

Mempool bloat? Meh, just another spam attack. Honeybadger eats those for lunch.

$0.06 to get in the next block! Who's buying?

AlexGR was happy to remind us it was $0.04 (we should be using sat/byte btw) a week ago. So... 50% growth in a week boys! Can you smell that predictability and competitive advantage? Mewn sewn!

The situation from 40satoshi upwards is pretty similar.

https://bitcoinfees.21.co/

31-40 satoshi per byte (1-9 blocks wait)
41-50 satoshi per byte (0-2 blocks wait)
51-60 satoshi per byte (0-1 blocks wait)
61-70 satoshi per byte (0 blocks wait)

Guarantees for 0-1-2 blocks or 10-20-30 minutes don't exist anyway, as the next block could be empty. Same for time. Next block could be issued in an hour due to variance, or you could have 3-4 blocks found in 20 minutes.

[bargainbin]

... Next block could be issued in an hour due to variance, or you could have 3-4 blocks found in 20 minutes.

My momma always said, "Bitcoin's like a box of chocolates. You never know what you're gonna get [if anything]."

[Cconvert2G36]

Spam limit working as intended  

no the transactions centralized control deemed undesirable were not written to the blockchain  but bloated the Mempool, something that was not supposed to happen.

Mempool bloat? Meh, just another spam attack. Honeybadger eats those for lunch.

$0.06 to get in the next block! Who's buying?

AlexGR was happy to remind us it was $0.04 (we should be using sat/byte btw) a week ago. So... 50% growth in a week boys! Can you smell that predictability and competitive advantage? Mewn sewn!

The situation from 40satoshi upwards is pretty similar.

https://bitcoinfees.21.co/

31-40 satoshi per byte (1-9 blocks wait)
41-50 satoshi per byte (0-2 blocks wait)
51-60 satoshi per byte (0-1 blocks wait)
61-70 satoshi per byte (0 blocks wait)

Guarantees for 0-1-2 blocks or 10-20-30 minutes don't exist anyway, as the next block could be empty. Same for time. Next block could be issued in an hour due to variance, or you could have 3-4 blocks found in 20 minutes.

Quoted for future reference.

Also, if we consider that 90% of the transactions are spam, blocks are currently 10% full.  

[8up]

the thing is bitcoin won't shrink in size. but it won't grow either. it simply will stay the bonsai size it currently is.

all the money waiting on the sidelines will flow into alt-coins directly.

good luck with your empty bag - so called early adopters of bitcoin.

You don't understand. What's gonna happen is people will transact off-chain, maybe consolidate their paltry txs on pay now buy later Lightning Network, and then pipe dream use Bitcoin as the settlement layer, teh backbone, so to say.

The money will roll right in!

probably the version you signed up for (3 month ago). not me (4 years ago).

[aztecminer]

we are two months away from being one full year on this block size debate: http://gavinandresen.ninja/why-increasing-the-max-block-size-is-urgent

and within that year blocks have filled up that the red and blue 3d glasses person did not post this morning because we will see all the blocks are filled up all the time now.

the more the blocks fill up the more valuable the bitcoins become in relation to fiat currencies.

something wrong with this scenario .

[JayJuanGee]

Spam limit working as intended 

no the transactions centralized control deemed undesirable were not written to the blockchain  but bloated the Mempool, something that was not supposed to happen.

Mempool bloat? Meh, just another spam attack. Honeybadger eats those for lunch.

$0.06 to get in the next block! Who's buying?

AlexGR was happy to remind us it was $0.04 (we should be using sat/byte btw) a week ago. So... 50% growth in a week boys! Can you smell that predictability and competitive advantage? Mewn sewn!

An aside: You, BitUsher, AlexGR, and hdbuck all joined the forum around the same time... can you guess who was first?  

You are a fucking goofball, Convert2G36.  O.k. I will admit that your lame assertions regarding join dates did cause me to look, but then I felt that I just wasted 2 minutes of my life that are gone forever... .. haahahahaha...

and another minute to write to tell you that you are a goofball.

[brg444]

we are two months away from being one full year on this block size debate: http://gavinandresen.ninja/why-increasing-the-max-block-size-is-urgent

and within that year blocks have filled up that the red and blue 3d glasses person did not post this morning because we will see all the blocks are filled up all the time now.

the more the blocks fill up the more valuable the bitcoins become in relation to fiat currencies.

something wrong with this scenario .

People don't go there anymore it's too crowded!

Bitcoin, so useless you can't use it because there's too much demand

[tomothy]

Ok, Aztec, Quick question: Why does it matter who the current President is? How would this impact your analysis? Why is 'gimpcoin' in your opinion not rising in value until after that point.

[hdbuck]

the thing is bitcoin won't shrink in size. but it won't grow either. it simply will stay the bonsai size it currently is.

all the money waiting on the sidelines will flow into alt-coins directly.

good luck with your empty bag - so called early adopters of bitcoin.

What empty bag?

Bitcoin holding its value strong over $400 now..

Wait for capital controls, NIRP et al. and all teh money panicking for a secured safe haven.

we are two months away from being one full year on this block size debate: http://gavinandresen.ninja/why-increasing-the-max-block-size-is-urgent

and within that year blocks have filled up that the red and blue 3d glasses person did not post this morning because we will see all the blocks are filled up all the time now.

the more the blocks fill up the more valuable the bitcoins become in relation to fiat currencies.

something wrong with this scenario .

People don't go there anymore it's too crowded!

Bitcoin, so useless you can't use it because there's too much demand

lmao

[aztecminer]

Ok, Aztec, Quick question: Why does it matter who the current President is? How would this impact your analysis? Why is 'gimpcoin' in your opinion not rising in value until after that point.

because bitcoin is manipulated by the US Federal Govy .. they own it... thats why .

[AlexGR]

we are two months away from being one full year on this block size debate: http://gavinandresen.ninja/why-increasing-the-max-block-size-is-urgent

and within that year blocks have filled up that the red and blue 3d glasses person did not post this morning because we will see all the blocks are filled up all the time now.

the more the blocks fill up the more valuable the bitcoins become in relation to fiat currencies.

something wrong with this scenario .

Actually, one year is close to passing and nothing destructive has happened - contrary to his prediction. So it is conclusively proven that the block size increase he was saying was urgent, in fact wasn't that urgent.

Also... Gavin wrote:

If the number of transactions waiting gets large enough, the end result will be an over-saturated network, busy doing nothing productive. I don’t think that is likely– it is more likely people just stop using Bitcoin because transaction confirmation becomes increasingly unreliable.

Yeah, I mean I will stop using bitcoin because I don't want to pay 5 cents in fees or because blocks aren't issued like clockwork every 10 minutes (this has nothing to do with the blocksize debate btw). It's obvious users would rather pay tens of dollars to centralized paypal, credit cards and bank wires instead of the much cheaper, faster and decentralized bitcoin.

Not even pro-FUDders would write that stuff.

[JayJuanGee]

price will rise before it rises higher.


can't you see it happening?

420 is just the beginning

so whats the target price for February ? 500 600

i think is stuck range 400 - 500 ... bitcoin is selling the halving .

close... i think 350 to 500 is their range they are stuck in .. #paralyzed #GimpCoin

We gotta take bitcoin prices, one step at a time.  We are in a pretty decent "paralyzed" price range at the moment, especially, if you consider where we were 1 year ago... or even if you consider where we were 3 years ago (now, 2 years ago is another story... hahahahahaha)

Anyhow, back on point>>>> If prices go above $467, then to me it seems pretty likely we are going to break past $500, and if we break past $500, then likely the next major resistance point would be between $550 and $650; however, I am not willing to suggest that we are out of the $400s, even if we were to break into the $500s in the next few weeks.

As far as the downside,  $350 does seem like a pretty strong support level, so at this time, it would take a pretty sizeable amount of FUD to convince people to sell below that price point..... Upper $300s is in striking distance, but even that doesn't seem so likely at the moment...... given our paralysis that currently is largely between $416 and $440 (hovering in the upper end at the moment, and cannot really complain about that - unless you are a Mr. Aztec type or a BJA type or some other whiner that is trying to find reasons to complain).  


Edit:  On a side note, even some of the bears seem a bit more cheerful lately with rising prices... so possibly, the solution to a lot of the various whining is to bring up the price past $555 in order that we can experience a kind of Kumbaya moment.

gimpcoin is paralyzed until either scaling is fixed or obama leaves office. u might could go up but u aint going back down below 300 .. the reason i say 350 cuz they need to feel comfortable. it doesnt matter how u try twist it, gimpcoin remains gimped. it is not going down below 300, and it is unlikely to go above 500. i think i mentioned before that anything above 400 was above profit for my cold storage. i'm in the green on exchange and in cold storage. when i say "paralyzed", i'm not really talking about the price of bitcoin.. i am talking about the LOSS OF POWER that bitcoin is enjoying right now. can't go up, can't go down .. fukd. #paralyzed #GimpCoin

Yeah, it is all good and fun, and you are correct, until you are not.

Yep.. you picked our current price range, and to suggest that it is permanent is an attempt to make FUD and illogical stupid ass assertions out of a price range that currently is in place.

It would be nice to get rid of you, once bitcoin breaks out of this price range, but you are likely just like BJA, and we are not going to have such fortune.  You are merely going to change your lame ass theory to fit the new circumstances and then shill with your new lame framework.... I guess, so long as you are still getting paid for coming up with goofy and out-of-touch wishful fantasies.

[JayJuanGee]

Ok, Aztec, Quick question: Why does it matter who the current President is? How would this impact your analysis? Why is 'gimpcoin' in your opinion not rising in value until after that point.

LOOK at you... hahahahahahaha..

Acting as if Mr. Aztec actually has any meaningful thoughts or contribution that he could make.        


Edit:  or that he would actually answer the question.. .. reading his above response that avoids answering the question (regarding Why Obama specifically).