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

[ImI]

could get ugly

350$ in no time

[AlexGR]

Why? What happened?

[ImI]

Why? What happened?

delay happend. market wants to see clear results from HK-consensus, instead all it gets is "wait till july". thats not enough to keep up buyingpressure.

[AlexGR]

Why? What happened?

delay happend. market wants to see clear results from HK-consensus, instead all it gets is "wait till july". thats not enough to keep up buyingpressure.

This starts to remind me of the altcoin market where devs need to do some handholding for the market, lol...

Is there any reason to believe Segwit won't happen in a few months (1.7 - 3mb effective capacity) and hard fork next year for even more?

[2015Bubble]

Bottem in , eth will get dumped soon => +500 spike within 1 month.

[xxxxxzzzzz]

what's going on with price slippage... or so it seems 

been getting repeatedly spiked down and worked lower last 3 days now despite some seemingly heavy resistance ... basically it didn't breach $450 or 3000cny on the upswing from the looks of it and so down it goes ... now about $20 off from the $445 it hit 3 days ago ... pretty brutal and demoralizing but i assume that's the idea it always is ... we'll see if it goes up from 425 , 420 , or somewhere between there and 400 ...

You should not let yourself get demoralized by such volatility and price movements.  Just attempt to prepare for various swings of 5%, 10% and up to 20% in short periods of time.  Such price changes are not the end of bitcoin, but part of the process of upward movements includes some flat periods and even downward tests of the support.

oh i'm still in it and trading to some success overall ... have been actively selling and rebuying lower as has been the correct thing to do most lately so increasing btc though losing fiat value and proceeding with the mindset that i refuse to be shaken out prior to halving and scaling implemented... been trading this long enough (years) to know this price movement is normal / intentional ... i will say though wherever it goes up to before / during / after halving and scaling is where i intend to walk away or at least mostly just too much stress to reward ratio for how little coin i'm trading ... i'm growing to hate the sound of alarm bells waking me up mostly

[ssmc2]

We're still bouncing around inside the triangle people. Calm your tits.

[ChartBuddy]

Coin



Explanation

[ImI]

This starts to remind me of the altcoin market where devs need to do some handholding for the market, lol...

yes, its interesting because in some way they do. it wasnt that hard to see one year ago that the market (and for big parts the community) will look forward to a blocksize-raise and big tensions could come into the bitcoin-economy. it was tremendously silly to underestimate the force of the community, even if you think that 2MB HF is a bad thing you should be able to understand that a breakup of the community may be a much bigger risk. a rational decision would favor 2MB HF anytime instead of a contentious HF.

Is there any reason to believe Segwit won't happen in a few months

nope, question is a.) will they get their shit together? b.) how big will the added space really be?

and hard fork next year for even more?

yes, there is reason to believe so. core already pronounced that they need consensus to add a HF, but with friedenbach we already have one core dev opposing the HF in public, set aside Gmax who didnt declare anything to the HK-consensus.

that leaves some serious doubts if the HK has any credibility and as long as that uncertainty persists we see trouble...

[bargainbin]

We're still bouncing around inside the triangle people. Calm your tits.

Nothing to worry about...

[marcus_of_augustus]

doom, lower, lower, lower ... the divide and conquer appears to be working.

[ImI]

doom, lower, lower, lower ... the divide and conquer appears to be working.

and it could have been avoided so easily....

[marcus_of_augustus]

doom, lower, lower, lower ... the divide and conquer appears to be working.

and it could have been avoided so easily....

I don't think so ... Gavin is one stubborn SOB aussie

[JayJuanGee]

what's going on with price slippage... or so it seems 

been getting repeatedly spiked down and worked lower last 3 days now despite some seemingly heavy resistance ... basically it didn't breach $450 or 3000cny on the upswing from the looks of it and so down it goes ... now about $20 off from the $445 it hit 3 days ago ... pretty brutal and demoralizing but i assume that's the idea it always is ... we'll see if it goes up from 425 , 420 , or somewhere between there and 400 ...

You should not let yourself get demoralized by such volatility and price movements.  Just attempt to prepare for various swings of 5%, 10% and up to 20% in short periods of time.  Such price changes are not the end of bitcoin, but part of the process of upward movements includes some flat periods and even downward tests of the support.

oh i'm still in it and trading to some success overall ... have been actively selling and rebuying lower as has been the correct thing to do most lately so increasing btc though losing fiat value and proceeding with the mindset that i refuse to be shaken out prior to halving and scaling implemented... been trading this long enough (years) to know this price movement is normal / intentional ... i will say though wherever it goes up to before / during / after halving and scaling is where i intend to walk away or at least mostly just too much stress to reward ratio for how little coin i'm trading ... i'm growing to hate the sound of alarm bells waking me up mostly

Understandable.. that sometimes, there may be a need to reallocate and to take some out in order that the investment is less stressful because the volatility (especially downward) can be a real pain in the ass, and require way too much attention.

[AlexGR]

This starts to remind me of the altcoin market where devs need to do some handholding for the market, lol...

yes, its interesting because in some way they do. it wasnt that hard to see one year ago that the market (and for big parts the community) will look forward to a blocksize-raise and big tensions could come into the bitcoin-economy. it was tremendously silly to underestimate the force of the community, even if you think that 2MB HF is a bad thing you should be able to understand that a breakup of the community may be a much bigger risk. a rational decision would favor 2MB HF anytime instead of a contentious HF.

Is there any reason to believe Segwit won't happen in a few months

nope, question is a.) will they get their shit together? b.) how big will the added space really be?

and hard fork next year for even more?

yes, there is reason to believe so. core already pronounced that they need consensus to add a HF, but with friedenbach we already have one core dev opposing the HF in public, set aside Gmax who didnt declare anything to the HK-consensus.

that leaves some serious doubts if the HK has any credibility and as long as that uncertainty persists we see trouble...

As I see it, the only real uncertainty of the economy is about the existence of a contentious hard fork. As long as that threat doesn't exist, the market goes well (450-500$ a few months ago, when XT seemed to fail and Classic hadn't yet appeared / Hearn hadn't yet published his FUD/obituary).

The market, in general, given the moves that the price has been doing, indicates that it considers it a given that core devs know what they are doing and that they will be upgrading the system as needs arise. Their work on scaling for immediate use (0.12 improvements), short-term use (segwit), mid to long term use (further developments + LN), is the only serious work done on scaling and resolution of existing problems.

1.7mb (segwit) or 2mb (as proposed by classic hf) is too small of a difference to even play any meaningful role in massive pumps or dumps and "blocks are full" propaganda will still be the same, whether at 1-2-4mb, as long as the fees are near-zero cost for the blocks to be filled by spammers. As for the hard fork next year, well... we'll see how that goes.

[Cconvert2G36]

doom, lower, lower, lower ... the divide and conquer appears to be working.

and it could have been avoided so easily....

I don't think so ... Gavin is one stubborn SOB aussie

You're kidding us, right??!

From 20 to 8 to fuggin' 2… and he's stubborn because he told us about this problem a year ago, and now the blocks are full. Yes, of all that fee paying spam.

You have to fundamentally distrust miners' economic incentives to use soft limits and keep blocks at reasonable sizes. You trust all the other economic incentives towards correct miner behavior, but not this one. Bizarre.

It can be done, while maintaining a healthy level of decentralization. Sigops can be soft capped at the protocol level and by miners with their own soft limits for their own blocks. The malicious miner anti-Dos cap from 2010... where the founder described the manner in which it would be lifted... is being used as an economic policy tool... and your free thinking, free market oriented mind is ok with this?!

The BS conflict of interest is the problem here, and the evidence is piling up. Maybe, the market will have to inform the miners… many here would hope that is not the case. It would be pretty reckless to not have prepared for that eventuality at this juncture tho.

[BlindMayorBitcorn]

Bottem in , eth will get dumped soon => +500 spike within 1 month.

[ChartBuddy]

Coin



Explanation

[Cconvert2G36]

♫ People don't fear the creeper. ♬

You hear that sucking sound?



You gonna let your lunch get eaten by...         etherbutters??!    

I don't often quote my own calls... but when the glove fits like this!

[BlindMayorBitcorn]

r/Bitcoin going full r/Buttcoin today!

https://www.reddit.com/r/Bitcoin/comments/48p1bk/somebody_sent_a_transaction_with_a_15btc_fee/