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

[AlexGR]

BTC+gaming integration is extremely huge for bitcoin's long-term fundamentals and the training of a potentially very big user base. Not to repeat myself, but:

The best "crowd" to "train" are young tech-savy people (teenagers+). They'll need ...zero training as they figure out everything, just as they did with dogecoin. We need to merge BTC with the millions of online gamers. Games where people can win BTC through their gameplay or pay with BTC for advanced game priviledges, or transact with BTC between each other for exchanging items, accounts etc. These young people also tend to have GPUs and thus can become indirect BTC miners through GPU multipools.

I've stated it before but online games are the way... massive user base (tens of millions of young gamers) who are tech-knowledgeable and won't have an issue using cryptos.

Want to sell a virtual item? A game account? Something in-game related? BTC is the way... Same for game companies... they can have users use BTC for paying for their premium stuff or reward players with BTC for winning something, like a tournament or in-game achievements.

agree m8
also think xbox and ps will add to their stores soon, now that japan has officially recognised btc as money..

"Even more encouraging in many ways was the other news, that the Japanese government had devised a set of bills that would effectively recognize Bitcoin as a currency and put some regulations in place."
http://www.nasdaq.com/article/the-reasons-behind-bitcoins-continued-rise-cm612238#ixzz472yNZbBN

The "best" will be when in-game economies start mixing with RL-economies with bitcoin as the gateway. I've already seen some samples of this on a massive online game where players were getting bitcoins as rewards for completing in-game tasks / in-game challenges. And we already have cases of virtual goods or accounts being sold for btcs. Interestingly BTC has an advantage here over paypal, due to non-reversibility. This disallows someone to buy an ingame account or property and then reverse through paypal, keeping both money and virtual goods.

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[road to morocco]

Assuming they need to spend some of that grant in GBP, they'll need to exchange BTC for GBP. It's the GBP hitting the bank that they'll need to explain - if the GBP comes from an exchange, it'll potentially raise a red-flag. I assume a cheque or transfer from a government funding body would go through without a second thought, like any other non-BTC-related deposit.

"The United Kingdom’s government is exploring using bitcoin, or some permutation of the blockchain technology that underpins it, to pay out and monitor taxpayer-funded research grants.... A spokesperson said the use of bitcoin to disburse funds was “a possibility” and that the office isn’t ruling out any particular technology. “The government is looking into any sort of blockchain technique, bitcoin is one of those. It is open to all ideas,”"

This gets twisted into "why isn't BTC skyrocketing" >> "b/coz fkn gubbermint hatin' on our bitcoins!"

[LMGTFY]

Assuming they need to spend some of that grant in GBP, they'll need to exchange BTC for GBP. It's the GBP hitting the bank that they'll need to explain - if the GBP comes from an exchange, it'll potentially raise a red-flag. I assume a cheque or transfer from a government funding body would go through without a second thought, like any other non-BTC-related deposit.

"The United Kingdom’s government is exploring using bitcoin, or some permutation of the blockchain technology that underpins it, to pay out and monitor taxpayer-funded research grants.... A spokesperson said the use of bitcoin to disburse funds was “a possibility” and that the office isn’t ruling out any particular technology. “The government is looking into any sort of blockchain technique, bitcoin is one of those. It is open to all ideas,”"

This gets twisted into "why isn't BTC skyrocketing" >> "b/coz fkn gubbermint hatin' on our bitcoins!"

Huh? (a) I'm not asking why BTC isn't skyrocketing. I doubt it will as a result of this. (b) "The government has been fairly positive about crypto (opportunity for British businesses, enterprise, innovation - the usual reasons). Our banks... not so much."

[road to morocco]

^^The post you're responding to:

how come this news doesnt affect bitcoin price in positive way

but sure, a teeny bit hyperbolic on my part

[LMGTFY]

^^The post you're responding to:

how come this news doesnt affect bitcoin price in positive way

but sure, a teeny bit hyperbolic on my part

Oh, sorry, I thought you were directing your post at me, not the post I was responding to.

[road to morocco]

^
https://lsatmax.com/wp-content/uploads/2016/03/bcf011d75f2f39acf22ebe0bfb9b21f7.jpg

[AliceGored]

Yeah! My buy limit orders went through , time to wire more fiat for another round of buys. These shakeouts don't scare veterans who have been riding the rollercoaster for some time, just another buying opportunity.

Bitcoin veterans, like BitUsher, wire filthy fiat to exchanges to scoop $450-something coins like you wouldn't believe.

While ignoring a crescendo of ill concealed laughter, like a bozz .

wb mr kern

[DeathAngel]

Disappointing to see a bit of a dump today but we soldier on. As far as I'm concerned this is cheap coins before the halving.

[BlindMayorBitcorn]

 

Well look who's back. I was worried something had happened to you. What's it been? 3 weeks?

You missed all the fun of a great little month-long bull run. Hopefully you were too busy accumulating bitcoins to bother with posting here.

Seeing the pathetic result of today's frantic attempt to stop the rally, we've still got a long way to go.

All those ask walls at $466, $476, $483, $490, $493, etc., were pulled for a massive dump and it barely put a wrinkle in the price.

Too bad it's not enough of a dip for me to consider buyable. I hope I don't regret not buying more while the price is still below $500, but I did stock up pretty nicely when the price dipped below $200 and while it was still under $300.

I’ve been around, lurking mostly. I’m still hodling but only because none of the things I want to buy have been invented yet.

[USB-S]

I bet we're going to climb back up again just before my payday and bears are going to dump on me.



At least now we can start climbing again.

[JayJuanGee]

 

Well look who's back. I was worried something had happened to you. What's it been? 3 weeks?

You missed all the fun of a great little month-long bull run. Hopefully you were too busy accumulating bitcoins to bother with posting here.

Seeing the pathetic result of today's frantic attempt to stop the rally, we've still got a long way to go.

All those ask walls at $466, $476, $483, $490, $493, etc., were pulled for a massive dump and it barely put a wrinkle in the price.

Too bad it's not enough of a dip for me to consider buyable. I hope I don't regret not buying more while the price is still below $500, but I did stock up pretty nicely when the price dipped below $200 and while it was still under $300.

I’ve been around, lurking mostly. I’m still hodling but only because none of the things I want to buy have been invented yet.

LOOK



AT


YOU...................



Planning to cash out.


 

[Karartma1]

I'm always out when the fun happens and I was not able to make any move. I believe a dump like the one we saw today was pretty normal: to me there's nothing to worry about (yet).

[BlindMayorBitcorn]

^I can wait.

[bitebits]

this makes you wonder how mistakes like this happen...

what client were they using?

dosnt core warn you if you try and send a fee that is 100,000times higher then the amount you are sending?

you'd think most wallets have implemented some common sense checks before sending.

It usually happens because someone who doesn't understand how change transactions work in bitcoin tries to spend a portion of the funds in a paper or brain wallet.  If you send funds from a paper or brain wallet, you need to make sure to send ALL of it at once to your wallet, then spend a portion from that.

When you spend bitcoins, the amount you spend comes out of chunks you have received (inputs), and usually, there will be at least two outputs - one is the spend, and the other is the change, which is sent back to an address you own.  If you create a transaction that spends from one or more inputs without spending ALL of the funds contained in those inputs, and you don't provide an output to a change address you own, any funds in the inputs that exceeds the spend will become transaction fees paid to the miner that mines the block containing the transaction.

All software and hardware wallets, as far as I know, handle that stuff for you, and yes, Core, at least, will warn you if you try to send with an excessive manual fee.

Thanks for clearly explaining!

[podyx]

That should of been the last shakeout.

Heading for $630 now boys. Strap in.

[dumbfbrankings]

That should of been the last shakeout.

Heading for $630 now boys. Strap in.

Strap in boyz.



$925, sewn.

[whoreble]

Sub-448, Horrible. Like watching my own children getting savaged



jk, wish I had video feed of the ongoing carnage. With dolby surround.

[JayJuanGee]

That should of been the last shakeout.

Heading for $630 now boys. Strap in.

I have my reservations regarding whether this is the "last" pre-$500 "shakeout."


Bitcoin frequently overshoots, so we gotta be prepared for that...

I mean the potential for more downward price pressures remains because we don't really know how many coins are in the hands of various bearwhales (and if they haven't all gone into hybernation, yet?).....

And actually, the latest couple of downward pushes (in the past 12 hours) have caused only an incremental (maybe average) levels of volume... We still have not gotten anywhere near our August 2015 to December 2015 trade volume levels, but maybe the actual volume increases will come after getting into the $600's, perhaps? 

Yeah... we are all speculating here, including myself.... yet on a personal level, I feel a bit better about jiggering my BTC portfolio after this latest volatility episode.. even though I frequently get a bit nervous when prices are moving a bit quicker and farther than I had expected in one direction or another, and I am trying to figure out when to pull the buy/sell trigger or the extent to which to attempt a further reconfiguration of my allocations.

[mixan]

Back to the start of last week 
I will buy up some now and save some for days after the halving cometh.

[marcus_of_augustus]

https://www.youtube.com/watch?feature=player_detailpage&v=gt4yL_8fnWA#t=113

First stage separation ... "get ready for a little jolt fellas!"