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

[JimboToronto]

Good morning Bitcoinland.

Still no repeat dump. Maybe they're done. Seems pretty much sideways for now.

[Denker]

Back in the 450s.
Let's see for how long as China still does not really want to go up.

[JayJuanGee]

I still don't understand why some people think the halving of block size will make the price of Bitcoin fall.  It seems to go contrary to common sense - not that common sense always comes into people's behaviour but if someone can explain it to me in simple terms I would be grateful.

Part of the theory is that if the price of the halving is already priced in, then the actual halving is a time to dump, and the second part of the theory is that miners will not be making enough money so they will quit and hashing power will go down causing bitcoin to be less valuable because it's network is less valuable.  Some of the evidence for price drop upon halvening is what happened with litecoin (but yeah, litecoin is not bitcoin... hehehehehe)

There are probably some other theories too that I am currently overlooking, but none of them that I have seen are really very convincing.. even though every theory is going to have some truth to it.  I do think that halvening is overhyped because it is kind of priced in (but not completely). I also think that miner behavior is not going to change as quickly or as much as expected because they are already invested and will not suddenly stop.

Anyhow, overall falling prices upon halvening is less than a convincing theory.

[DaRude]

Oh i wanna play. I think you should go on a crusade against wire transfers and how they should be replaced by credit cards. Next time you're buying a car/house etc... ask if they'll take your VISA. Or are you in US and still write those silly cheques?

I'm in the States. When I buy a car, I pay by check (we spell it c h e c k here, sans flowery que *lifts pinky* Britishisms), or use cash, like any normal human being. Zero wait/zero problems.
But you, you actually wire money when buying a car? Anything else you do? Weird ceremonial dances with blood sacrifices? Just to complicate things a bit more?

Though I'm not sure why we're discussing this, you can't buy a car or a house with bitcoins around here. I mean, maybe there is some hipster willing to sell one somewhere in US, it's a huge country, but normally? Lol, I'd have better luck trying to buy a car with BTCeanies

Re. "How many 0's is that???": Fewer than the Bitcoin blunder. And remember, friend: Fiat has been around for centuries, with BILLIONS of people using it, and that's the worst you came up with.
Bitcoin has been around for 7 years, and a good chunk of it has already been lost due to hilarious fuckups

Cute how you totally left the house part and just concentrated on a car.
You need guaranteed funds to buy a car or back up your silly checks (that take up to 5days to settle) with your credit history. Try going to your used car dealership, or a Ferrari dealership with your silly check book and driving out with a car without giving them your social security#, cash probably will still fly more likely under $10,000, anything after that might get IRS and other 3 letter agencies involved.

For a house closing agents won't accept cash, and most won't even take guaranteed checks on the settlement date. Wire is THE only way.

I'm not sure why we're discussing this

Umm well, because you're trying REALLY HARD to troll a 7yr old GUARANTEED payment system by comparing it to a 70yr+ old NOT guaranteed payment system. And your bellow average reader might actually think your BS might make sense for a nano second before his/her logic kicks in or they read the replies  

[Fatman3001]

(we spell it c h e c k here, sans flowery que *lifts pinky* Britishisms)

otherwise known as english

[whored]

Oh i wanna play. I think you should go on a crusade against wire transfers and how they should be replaced by credit cards. Next time you're buying a car/house etc... ask if they'll take your VISA. Or are you in US and still write those silly cheques?

I'm in the States. When I buy a car, I pay by check (we spell it c h e c k here, sans flowery que *lifts pinky* Britishisms), or use cash, like any normal human being. Zero wait/zero problems.
But you, you actually wire money when buying a car? Anything else you do? Weird ceremonial dances with blood sacrifices? Just to complicate things a bit more?

Though I'm not sure why we're discussing this, you can't buy a car or a house with bitcoins around here. I mean, maybe there is some hipster willing to sell one somewhere in US, it's a huge country, but normally? Lol, I'd have better luck trying to buy a car with BTCeanies

Re. "How many 0's is that???": Fewer than the Bitcoin blunder. And remember, friend: Fiat has been around for centuries, with BILLIONS of people using it, and that's the worst you came up with.
Bitcoin has been around for 7 years, and a good chunk of it has already been lost due to hilarious fuckups

Cute how you totally left the house part and just concentrated on a car.
You need guaranteed funds to buy a car or back up your silly checks (that take up to 5days to settle) with your credit history. Try going to your used car dealership, or a Ferrari dealership with your silly check book and driving out with a car without giving them your social security#, cash probably will still fly more likely under $10,000, anything after that might get IRS and other 3 letter agencies involved.

For a house closing agents won't accept cash, and most won't even take guaranteed checks on the settlement date. Wire is THE only way.

I stand by my Beanies comparison, the Beanies point is sound.
The number of US realtors accepting BTC as a form of payment is roughly the same as for those accepting Beanies, which is to say zero.

I know of exactly one house that was sold for BTC, was posted on this forum. Visionary OP doesn't post anymore, because BTC was ~$650 at the time. Yeah, he still had to pay taxes. Yeah, the legal bullshit of transferring property title was likely lengthier/more involved than with conventional means of payment. Yeah, OP jumped through a lot of hoops to wind up as the brokeass laughing stock he is today.
Otherwise, seamless :8

@Fatman3001: Obsolete, olde timey English. An anachronism, much like legacy finance

P.S. But if you think that people will start using your bit-tokens as money because they could save a few minutes the one or two times in their lives they buy a house, don't let me spoil your morphia dreams.

[European Central Bank]

Check Bitpremier. They're out there in a small number but you would have to be a visionary or a bit insane to stay in bitcoin after selling your place.

[DaRude]

Oh i wanna play. I think you should go on a crusade against wire transfers and how they should be replaced by credit cards. Next time you're buying a car/house etc... ask if they'll take your VISA. Or are you in US and still write those silly cheques?

I'm in the States. When I buy a car, I pay by check (we spell it c h e c k here, sans flowery que *lifts pinky* Britishisms), or use cash, like any normal human being. Zero wait/zero problems.
But you, you actually wire money when buying a car? Anything else you do? Weird ceremonial dances with blood sacrifices? Just to complicate things a bit more?

Though I'm not sure why we're discussing this, you can't buy a car or a house with bitcoins around here. I mean, maybe there is some hipster willing to sell one somewhere in US, it's a huge country, but normally? Lol, I'd have better luck trying to buy a car with BTCeanies

Re. "How many 0's is that???": Fewer than the Bitcoin blunder. And remember, friend: Fiat has been around for centuries, with BILLIONS of people using it, and that's the worst you came up with.
Bitcoin has been around for 7 years, and a good chunk of it has already been lost due to hilarious fuckups

Cute how you totally left the house part and just concentrated on a car.
You need guaranteed funds to buy a car or back up your silly checks (that take up to 5days to settle) with your credit history. Try going to your used car dealership, or a Ferrari dealership with your silly check book and driving out with a car without giving them your social security#, cash probably will still fly more likely under $10,000, anything after that might get IRS and other 3 letter agencies involved.

For a house closing agents won't accept cash, and most won't even take guaranteed checks on the settlement date. Wire is THE only way.

I stand by my Beanies comparison, the Beanies point is sound.
The number of US realtors accepting BTC as a form of payment is roughly the same as for those accepting Beanies, which is to say zero.

I know of exactly one house that was sold for BTC, was posted on this forum. Visionary OP doesn't post anymore, because BTC was ~$650 at the time. Yeah, he still had to pay taxes. Yeah, the legal bullshit of transferring property title was likely lengthier/more involved than with conventional means of payment. Yeah, OP jumped through a lot of hoops to wind up as the brokeass laughing stock he is today.
Otherwise, seamless :8

@Fatman3001: Obsolete, olde timey English. An anachronism, much like legacy finance

P.S. But if you think that people will start using your bit-tokens as money because they could save a few minutes the one or two times in their lives they buy a house, don't let me spoil your morphia dreams.

It's amusing that the best of your trolling is used to compare bitcoin to credit cards, yet there's literally not a single person on here who claims that bitcoin (in itself and in it's current form) can replace credit cards. Oh well carry on

[whored]

Check Bitpremier. They're out there in a small number but you would have to be a visionary or a bit insane to stay in bitcoin after selling your place.

He claims that he did, so yeah, crazy. As for Bitprimer, I guess if I wanted to go through some shady intermediary to hold my bitcoins in escrow instead of dealing with the owner of the property directly, they'd be the first place I'd chose. Houses have property titles (think lawyers and notaries and stuff), the history of owners, past and present, is an open book to government shills with jackboots on the ground.  That's why Joe Random can't walk into your living room and say GTFO my house, because scairt of jackboots.

@DaRude: You've compared bitcoins to bank wire, when bitcoins are as useful as a truckload of BTCeanies in scenarios you've described

[DaRude]

BTC2k buy wall on stamp @ $452 would wipe out ask side till $480 _{if this is not the right thread to post this mods please move}  

[JayJuanGee]

BTC2k buy wall on stamp @ $452 would wipe out ask side till $480 _{if this is not the right thread to post this mods please move}  

Yeah...

No one has bought into it yet.

It would be interesting if that wall were to move up $.10 or $.25 every 30 minutes

[road to morocco]

It would be interesting if that wall were to move up $.10 or $.25 every 30 minutes

Or turned into a giant chinchilla.

[USB-S]

Where we going tonight? I'm ready.

[JayJuanGee]

It would be interesting if that wall were to move up $.10 or $.25 every 30 minutes

Or turned into a giant chinchilla.

You mean turn the almost $1million into a kind of market buy?

I'm sure strategically the person (institution) has its reasons for creating that particular buy wall... and likely a person's strategies change when s/he is holding that amount of money on an exchange that is available to be put up at one time. 

I doubt that $1 million is the only assets in the hands of that one trader.

[finkelsteinMonster]

Fun Fuct: A Judas goat is an animal trained to lead a heard of sheep to the slaughter, without itself being killed.

Not sure how this is relevant to Bitcoin, but I'm all in. Buy buy buy!

Feels good to be all in...

[USB-S]

[JayJuanGee]

Fun Fuct: A Judas goat is an animal trained to lead a heard of sheep to the slaughter, without itself being killed.

Not sure how this is relevant to Bitcoin, but I'm all in. Buy buy buy!

Feels good to be all in...

I am at the point that I try not to go all in.... even when upward is looking pretty likely.

A couple of days ago, when we were at $470, I was feeling like I didn't have enough bitcoin in my BTC holdings because the nearly steady upward prices from about $403 to $470 over the previous 6 weeks had caused my BTC funds to go from 96% BTC allocation down to about 92% BTC allocation...

However, the most recent downward correction allowed me to correct what I had begun to feel as an overallocation in fiat, and I a now a little over 96% BTC again.... Surely it feels like not a bad place to be, especially when there currently seems to be a lot of upwards pressures, there was a decent correction and chances of continued upwards are looking fairly decent, at least, at the moment... and looks like we could possibly break through the $467 this time? 

[DaRude]

Did whoboi turn off their 10x volume multiplier something seems odd

[XCASH]

Fun Fuct: A Judas goat is an animal trained to lead a heard of sheep to the slaughter, without itself being killed.

Not sure how this is relevant to Bitcoin, but I'm all in. Buy buy buy!

Feels good to be all in...

I am at the point that I try not to go all in.... even when upward is looking pretty likely.

A couple of days ago, when we were at $470, I was feeling like I didn't have enough bitcoin in my BTC holdings because the nearly steady upward prices from about $403 to $470 over the previous 6 weeks had caused my BTC funds to go from 96% BTC allocation down to about 92% BTC allocation...

However, the most recent downward correction allowed me to correct what I had begun to feel as an overallocation in fiat, and I a now a little over 96% BTC again.... Surely it feels like not a bad place to be, especially when there currently seems to be a lot of upwards pressures, there was a decent correction and chances of continued upwards are looking fairly decent, at least, at the moment... and looks like we could possibly break through the $467 this time?  

The crash from $470 was about the time the fed announced it was leaving rates unchanged. However, today there was a government financial report released that's only released once every few years. It says fiat's fuc*!d for for foreseeable future. It might get people buying Bitcoins again.

[JayJuanGee]

Fun Fuct: A Judas goat is an animal trained to lead a heard of sheep to the slaughter, without itself being killed.

Not sure how this is relevant to Bitcoin, but I'm all in. Buy buy buy!

Feels good to be all in...

I am at the point that I try not to go all in.... even when upward is looking pretty likely.

A couple of days ago, when we were at $470, I was feeling like I didn't have enough bitcoin in my BTC holdings because the nearly steady upward prices from about $403 to $470 over the previous 6 weeks had caused my BTC funds to go from 96% BTC allocation down to about 92% BTC allocation...

However, the most recent downward correction allowed me to correct what I had begun to feel as an overallocation in fiat, and I a now a little over 96% BTC again.... Surely it feels like not a bad place to be, especially when there currently seems to be a lot of upwards pressures, there was a decent correction and chances of continued upwards are looking fairly decent, at least, at the moment... and looks like we could possibly break through the $467 this time?  

The crash from $470 was about the time the fed announced it was leaving rates unchanged. However, today there was a government financial report released that's only released once every few years. It says fiat's fuc*!d for for foreseeable future. It might get people buying Bitcoins again.

You may be correct that various news can cause marginal effects on whether BTC prices are moving upwards or downwards  (by marginal, I mean tipping the scale towards one direction or another when other factors are also at work).  In that respect, I am kind of thinking that BTC was due for a bit of a substantial correction after going from $403 to $470 over 6 weeks without any meaningful or major correction.

In the previous 6 weeks, we had not seen corrections that were more than 2 or 3%; however, the correction from $470 to $435 adds up to almost a 10% correction... and accordingly fuel for continued upwards and onwards, no?

I'm looking forward to witnessing this time, the extent to which there may be resistance in the $467 to $475 range... and I am kind of thinking that bears may be running out of coins (though we've been surprised in the past, that's for sure).