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

[--Encrypted--]

the dragon's head is in the way. cut it off.

Most votes pointing price > 440 (April 1st), that's optimism.

happy early april fools!

[Tzupy]

https://www.cryptocoinsnews.com/russias-bitcoin-ban-proposal-likely-enter-duma-august/

[sAt0sHiFanClub]

pms is where the buy is cuz they are artificially manipulated lower, while bitcoins is artificially manipulated higher .. there is reasons for the manipulation and is is doubtful good for us .

1. The PM indexes barely move with the amount of money involved in crypto. They are in the multi-trillion marketcap category. Crypto isn't getting any serious money from PMs. Bitcoin's marketcap is like one thousand of what Gold's marketcap is.

2. PMs do not really overlap the online transactions sector. They are just store of value. You can't pay someone over the internet if you have gold in your pocket. You can pay him with bitcoins though. That means that PMs and crypto are complimentary in this sense. Things might have been different with a decentralized e-gold equivalent, but physical ownership and physical transfer is not something that an algorithm can rule.

3. In terms of manipulation, owning Bitcoins is actually a hedge against the ongoing PM manipulation as the mechanisms existing in the gold manipulation 'industry' are not found in bitcoin.

4. Bitcoins are far more scarce than gold and silver. There are ~6 billion ounces of above ground gold and only 15.4 million bitcoins. That's one bitcoin for every 390 ounces. That's now. The future is actually in favor of bitcoin:gold ratio.

5. Gold and silver production is increasing continuously as the methods to extract it are improved and become increasingly mechanized. 100 years ago you had people shoveling ground and now you have excavators and D10's moving ground and ...ripping permafrost. Or people dredging ...the ocean's bottom (soon with robots). Even the places that have been previously "mined" are full of gold. And even the places that are mined today are still left with tons of fine gold that they can't really catch due to most mining operations going for more volume at the expense of recovery rates. The 180ktons of above ground gold will probably double or triple in the next 30-40 years. And when AI comes online to track underground deposits, vein flows, etc etc, or even assume the running of mechanical recovery tasks, you're looking at full blown gold inflation. And I haven't mentioned that most "non-gold bearing grounds" are ....gold bearing with invisible gold. You might pan nothing, but the gold is attached to lower-specific gravity rocks, which, when crushed, will release the gold (typically by resorting to chemicals). When people say "there is no gold here", what they really mean is "I don't see any", or "I'll probably spend more to get it" - both of which are circumstances that change continuously.

6. Even if above ground gold doubles or triples in the mid-term future, it will still preserve its value due to fiat inflating at a much faster pace. However bitcoin will be inflating at a much lower pace than both, hence being an adequate store of value, which also has good upside potential (gold's marketcap can't go 10x to 70+ trillion range with ease, unlike bitcoin which can hit 4k usd and do a 10x).

7. What PMs have in their favor is that they are much safer than crypto (excluding scam PM purchases). Nobody will fork, hack or 51% one's gold. And they are good for countries with high devaluation rates where the average man can convert local currency to PMs to prevent erosion to his savings.

All this shit from a guy who honestly thinks bitcoin will be trading at $12,000 next week.  I cannot even laugh at this anymore.

[sAt0sHiFanClub]

"This brings me to Bitcoin. I think that Bitcoin could be the world's next great safe asset. At least, it certainly seems to have all the properties that are desired in a safe asset. "

"This "Bitcoin as a large-value transfer system" does not destroy my thesis: Bitcoin can remain a desirable safe asset. "

"Once market penetration is complete, its return behavior is likely to mimic the return behavior of any other safe asset."

"Investors can expect to earn unusually high returns in a crisis event."

"In short, it's a great investment"

~David Andolfatto, Vice-President Fed Bank of St-Louis


http://andolfatto.blogspot.fr/2016/03/is-bitcoin-safe-asset.html

hdbuck if quoting fedsters.  We are all doomed.

[hdbuck]

"This brings me to Bitcoin. I think that Bitcoin could be the world's next great safe asset. At least, it certainly seems to have all the properties that are desired in a safe asset. "

"This "Bitcoin as a large-value transfer system" does not destroy my thesis: Bitcoin can remain a desirable safe asset. "

"Once market penetration is complete, its return behavior is likely to mimic the return behavior of any other safe asset."

"Investors can expect to earn unusually high returns in a crisis event."

"In short, it's a great investment"

~David Andolfatto, Vice-President Fed Bank of St-Louis


http://andolfatto.blogspot.fr/2016/03/is-bitcoin-safe-asset.html

hdbuck if quoting fedsters.  We are all doomed.

sorry, i thought you govvy shills would appreciate some of your sugardaddy inputs.

although he is not involved with blockstream

[blunderer]

Guys, you're doing it wrong...



RIP 420.

[bargainbin]

Captain Obvious here again:
The price increase was Today's dump is due to one or more entities simply purchasing dumping BTC, they were not pumping the price as we normally see, they were accumulating are droppin' it like it's hot all in one go;

[Denker]

Ouch! Mega red dildo on finex.
Someone dumped the price down to 406 over there.But already back to 412!
Big hiccup I would say.

[Tzupy]

Fuck... I closed my short at 415$, didn't expect such a large sudden drop. This quickly went from hugging the upper BB in 12h and 1d to the lower. Also flipped 12h and 1d PSAR to bearish.
Now I have to wait for another good short entry. Is there some bearish news to explain this sudden and rather large drop?

[Gyrsur]

someone needs to cash out because the price was good and the electricity bills have to be paid.  

[abercrombie]

is crypto done??  

[BitUsher]

Anyone else notice the new spam attack with low tx but high inputs to fill the blocks?

[bargainbin]

is crypto done??  

Sure. It just don't know it yet. No biggie, I got an ax!

[BitUsher]

Fuck... I closed my short at 415$, didn't expect such a large sudden drop. This quickly went from hugging the upper BB in 12h and 1d to the lower. Also flipped 12h and 1d PSAR to bearish.
Now I have to wait for another good short entry. Is there some bearish news to explain this sudden and rather large drop?

Likely just a whale creating a bull trap. Looks like there is a trend here and we need to see a 3-4% breakout before there is an indication there wont be a retrace.

[LFC_Bitcoin]

**Sigh**

When is bitcoin to get an adrenaline shot in the arm? I was told I'd be rich by now before I invested
Seriously though the halving isn't too far away now & there doesn't seem to be any hint the price will change dramatically.

Disappointed.

[--Encrypted--]

Anyone else notice the new spam attack with low tx but high inputs to fill the blocks?

have been around for a while. paying 0.03~ per transaction (usually 99kb). if half of those tx is from one entity then they're losing more than 5BTC per day.


meanwhile. we're going down, down, down, down...  

[BitUsher]

**Sigh**

When is bitcoin to get an adrenaline shot in the arm? I was told I'd be rich by now before I invested
Seriously though the halving isn't too far away now & there doesn't seem to be any hint the price will change dramatically.

Disappointed.

Better if you weak hands just leave , rather than keep whining . I expect many more attacks ahead the more bitcoin grows.
Bitcoin is being hardened in a very hostile environment where all the other alts are sand castles.

Example - https://www.youtube.com/watch?v=_90Y8mw_HVY

She is often a paid shill with shit less developed opinion but this was a good video.

[bargainbin]

**Sigh**

When is bitcoin to get an adrenaline shot in the arm? I was told I'd be rich by now before I invested
Seriously though the halving isn't too far away now & there doesn't seem to be any hint the price will change dramatically.

Disappointed.

Better if you weak hands just leave , rather than keep whining .

Right on! We never liked him anyhow.

Bitcoin needs to shrink!

[Denker]

**Sigh**

When is bitcoin to get an adrenaline shot in the arm? I was told I'd be rich by now before I invested
Seriously though the halving isn't too far away now & there doesn't seem to be any hint the price will change dramatically.

Disappointed.

I think it's still too early.
In 2012 for instance price decreased from 16 down to 9 during august to end of october on Bitstamp.
And only in the last 4 weeks before halving (november 28th) the price started to increase again.And the real upwards movement happened a few months after that.
So I don't see any reason why should be disappointed now at this moment.

[JayJuanGee]

**Sigh**

When is bitcoin to get an adrenaline shot in the arm? I was told I'd be rich by now before I invested
Seriously though the halving isn't too far away now & there doesn't seem to be any hint the price will change dramatically.

Disappointed.

I'm fairly optimistic that at some point we are going to get at least 1 or 2 or possibly more 10x bubbles in bitcoin; however, in the meantime, we should protect our BTC portfolios.. for the possibility that it could take a few more years.  NO?