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

[SomaliRebel]

If the Bitcoin exchange rate roughly doubles every 3 years due to halving (and hashrate rises in lockstep) and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

But of course the 'get rich quick' crowd won't or refuse to believe it, and will gladly part ways with their money on other scams and too-good-to-be-true "investments".

Conversely, if ETH exchange rate ...goes up by 1600%, what's the word I'm looking for? watevs, if ETH exchange rate increases roughly 16-fold every 5 months, and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

My stupid hypothetical more profitable than your stupid hypothetical. I win. brb, ether.

[Torque]

If the Bitcoin exchange rate roughly doubles every 3 years due to halving (and hashrate rises in lockstep) and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

But of course the 'get rich quick' crowd won't or refuse to believe it, and will gladly part ways with their money on other scams and too-good-to-be-true "investments".

Conversely, if ETH exchange rate ...goes up by 1600%, what's the word I'm looking for? watevs, if ETH exchange rate increases roughly 16-fold every 5 months, and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

My stupid hypothetical more profitable than your stupid hypothetical. I win. brb, ether.

ETH hasn't been around for 7+ years yet. In fact let's talk in just 12 months, when I'm sure the ETH price will be MUCH MUCH lower than it is right now.  Many orders of magnitude lower in fact.  Because ETH = SCAM.

And ETH isn't even mined, it's premined crap. So no mining support. At all.  Soon to be cast in the waste bin along with the others (i.e., NXT, Ripple, etc.)

[nioc]

Going to my local store to buy some btc.  Be right back.

In case anybody is wondering this is real.

They sent it with a fee of 0.0000678 BTC which was not enough for it to be included in the next block.  I guess people are actually using this bitcoin thing.

[adamstgBit]

Going to my local store to buy some btc.  Be right back.

In case anybody is wondering this is real.

They sent it with a fee of 0.0000678 BTC which was not enough for it to be included in the next block.  I guess people are actually using this bitcoin thing.

wait what
you can buy bitcoins from your "local store"
what store?
you sure you aren't buying a "money gram" which you later convert to BTC on the net or some shit?
is the exchange rate any good?

[MingLee]

If the Bitcoin exchange rate roughly doubles every 3 years due to halving (and hashrate rises in lockstep) and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

But of course the 'get rich quick' crowd won't or refuse to believe it, and will gladly part ways with their money on other scams and too-good-to-be-true "investments".

Conversely, if ETH exchange rate ...goes up by 1600%, what's the word I'm looking for? watevs, if ETH exchange rate increases roughly 16-fold every 5 months, and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

My stupid hypothetical more profitable than your stupid hypothetical. I win. brb, ether.

ETH hasn't been around for 7+ years yet. In fact let's talk in just 12 months, when I'm sure the ETH price will be MUCH MUCH lower than it is right now.  Many orders of magnitude lower in fact.  Because ETH = SCAM.

And ETH isn't even mined, it's premined crap. So no mining support. At all.

Well the entire "support" system for it revolves around making applications for it (and I think there's a bit of mining involved at some point in the production chain), so it primarily benefits coders and people who can develop applications. Anyone else who is interested isn't able to get very far because of this.

ETH only spiked in value because there was a movement with Bitcoin we'll see it as a secondary currency investors will move to in the event of dips with Bitcoin, but it will never reach the point of being a legitimate rival to Bitcoin, primarily because it is driven entirely through speculation and not through actual application.

[SomaliRebel]

If the Bitcoin exchange rate roughly doubles every 3 years due to halving (and hashrate rises in lockstep) and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

But of course the 'get rich quick' crowd won't or refuse to believe it, and will gladly part ways with their money on other scams and too-good-to-be-true "investments".

Conversely, if ETH exchange rate ...goes up by 1600%, what's the word I'm looking for? watevs, if ETH exchange rate increases roughly 16-fold every 5 months, and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

My stupid hypothetical more profitable than your stupid hypothetical. I win. brb, ether.

ETH hasn't been around for 7+ years yet. In fact let's talk in just 12 months, when I'm sure the ETH price will be MUCH MUCH lower than it is right now.  Many orders of magnitude lower in fact.  Because ETH = SCAM.

No, ETH hasn't been around for 7 years, what's your point?
Not sure where you get the "roughly doubling every 3 years." In the first three years, BTC price has gone up by roughly infinity, as it does with all cryptos.  In the following three, price went up to $1200, fell back to ~160, and recovered to 440 where it is now.
So "roughly doubles every 3 years"? Explain that shit.

Re. your edit:
>And ETH isn't even mined, it's premined crap. So no mining support.
You mean we don't have to burn progressively bigger mountains of Chinese coal when ETH price goes up? And don't have to worry about devs making backroom deals with the 5-9 people controlling 90% of the hashpower?
Whatever will we do ?!

[adamstgBit]

If the Bitcoin exchange rate roughly doubles every 3 years due to halving (and hashrate rises in lockstep) and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

But of course the 'get rich quick' crowd won't or refuse to believe it, and will gladly part ways with their money on other scams and too-good-to-be-true "investments".

Conversely, if ETH exchange rate ...goes up by 1600%, what's the word I'm looking for? watevs, if ETH exchange rate increases roughly 16-fold every 5 months, and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

My stupid hypothetical more profitable than your stupid hypothetical. I win. brb, ether.

ETH hasn't been around for 7+ years yet. In fact let's talk in just 12 months, when I'm sure the ETH price will be MUCH MUCH lower than it is right now.  Many orders of magnitude lower in fact.  Because ETH = SCAM.

No, ETH hasn't been around for 7 years, what's your point?
Not sure where you get the "roughly doubling every 3 years." In the first three years, BTC price has gone up by roughly infinity, as it does with all cryptos.  In the following three, price went up to $1200, fell back to ~160, and recovered to 440 where it is now.
So "roughly doubles every 3 years"? Explain that shit.

it appears to roughly 10X every 3 years  

this time its different
this time its going to 100X

32,000$

[nioc]

Going to my local store to buy some btc.  Be right back.

In case anybody is wondering this is real.

They sent it with a fee of 0.0000678 BTC which was not enough for it to be included in the next block.  I guess people are actually using this bitcoin thing.

wait what
you can buy bitcoins from your "local store"
what store?
you sure you aren't buying a "money gram" which you later convert to BTC on the net or some shit?
is the exchange rate any good?

Appropriately a drug store (pharmacy) but it's mostly at stores that service cell phones.  Rate is ~1/2% high plus 1% fee.  Much better than an ATM.  Hell Coinbase charges 1% when they deduct directly from your bank account and Circle with "no fees" has a worse bottom line rate.

[SomaliRebel]

If the Bitcoin exchange rate roughly doubles every 3 years due to halving (and hashrate rises in lockstep) and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

But of course the 'get rich quick' crowd won't or refuse to believe it, and will gladly part ways with their money on other scams and too-good-to-be-true "investments".

Conversely, if ETH exchange rate ...goes up by 1600%, what's the word I'm looking for? watevs, if ETH exchange rate increases roughly 16-fold every 5 months, and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

My stupid hypothetical more profitable than your stupid hypothetical. I win. brb, ether.

ETH hasn't been around for 7+ years yet. In fact let's talk in just 12 months, when I'm sure the ETH price will be MUCH MUCH lower than it is right now.  Many orders of magnitude lower in fact.  Because ETH = SCAM.

No, ETH hasn't been around for 7 years, what's your point?
Not sure where you get the "roughly doubling every 3 years." In the first three years, BTC price has gone up by roughly infinity, as it does with all cryptos.  In the following three, price went up to $1200, fell back to ~160, and recovered to 440 where it is now.
So "roughly doubles every 3 years"? Explain that shit.

it appears to roughly 10X every 3 years  

this time its different
this time its going to 100X

32,000$

Actually no, it appears roughly infinityX every three years. No amount of shitty performance after the initial infinity% rise from zero will make the average anything less than infinity.
Now if you wanna look at how much worse (than infinity) each consecutive 3-year rise was, otoh ...actually, don't. Shit's depressing enough as it is.

[adamstgBit]

Going to my local store to buy some btc.  Be right back.

In case anybody is wondering this is real.

They sent it with a fee of 0.0000678 BTC which was not enough for it to be included in the next block.  I guess people are actually using this bitcoin thing.

wait what
you can buy bitcoins from your "local store"
what store?
you sure you aren't buying a "money gram" which you later convert to BTC on the net or some shit?
is the exchange rate any good?

Appropriately a drug store (pharmacy) but it's mostly at stores that service cell phones.  Rate is ~1/2% high plus 1% fee.  Much better than an ATM.  Hell Coinbase charges 1% when they deduct directly from your bank account and Circle with "no fees" has a worse bottom line rate.

that sounds like a pretty Fing good rate for obtaining bitcoin on the spot.

[adamstgBit]

If the Bitcoin exchange rate roughly doubles every 3 years due to halving (and hashrate rises in lockstep) and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

But of course the 'get rich quick' crowd won't or refuse to believe it, and will gladly part ways with their money on other scams and too-good-to-be-true "investments".

Conversely, if ETH exchange rate ...goes up by 1600%, what's the word I'm looking for? watevs, if ETH exchange rate increases roughly 16-fold every 5 months, and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

My stupid hypothetical more profitable than your stupid hypothetical. I win. brb, ether.

ETH hasn't been around for 7+ years yet. In fact let's talk in just 12 months, when I'm sure the ETH price will be MUCH MUCH lower than it is right now.  Many orders of magnitude lower in fact.  Because ETH = SCAM.

No, ETH hasn't been around for 7 years, what's your point?
Not sure where you get the "roughly doubling every 3 years." In the first three years, BTC price has gone up by roughly infinity, as it does with all cryptos.  In the following three, price went up to $1200, fell back to ~160, and recovered to 440 where it is now.
So "roughly doubles every 3 years"? Explain that shit.

it appears to roughly 10X every 3 years  

this time its different
this time its going to 100X

32,000$

Actually no, it appears roughly infinityX every three years. No amount of shitty performance after the initial infinity% rise from zero will make the average anything less than infinity.
Now if you wanna look at how much worse (than infinity) each consecutive 3-year rise was, otoh ...actually, don't. Shit's depressing enough as it is.

that's a really unfair and misleading way to look at it...

[SomaliRebel]

that's a really unfair and misleading way way to look at it...

Life is unfair, Buttercup.
That said, please buy bitcoins immediately at your local pharmacy, must form massive buy wall @440, which is currently being tested.

[ssmc2]

http://www.economist.com/news/science-and-technology/21699099-blockchain-technology-could-improve-reliability-medical-trials-better

[JayJuanGee]

The market looks quite "natural" recently.
There's not so much volatility if we compare last months with previous ones.
But calm sea waters may change rapidly as we all know.

This website is pretty decent for checking bitcoin's volatility as compared with the dollar, and currently volatility is quite down... .. yet I agree, a spike in volatility is possible to occur really quickly...


https://btcvol.info/

[JayJuanGee]

The halving is soon, the sensible prediction would be sideways 'ish' for a month or three. Then when the halving has had an effect we'll go to around $550-600 at least.

I guess it's possible a few whales could manipulate the price by selling a load of coins to crash the price pre halving & then buy back in before the predicted halving related rise.

Aside from that I haven't seen anything really negative that'd cause a sizeable drop.

Anybody else agree?

The halving is already priced in. Everyone knows about it, miners are prepared, it's not like it's gonna sneak up on them and shoot the price up. All the coins are already priced in. The only thing not priced in is any changes. 

Also the bollinger bands, just because the bands are tight right now doesn't mean we're going up. We can also go down, but last time the bands were this tight, we went sideways for some time.

Even if what you are saying has a 50% chance of becoming true (and that is really giving you a large benefit of the doubt), I would not wait for such a thing because it seems equally probable and even more probable to go up... .. but even given such a bear outlook, probably at minimum you should have 20% of your bitcoin allocated holdings in bitcoin, in case you are not correct.  My view is that 80-90% in bitcoin would be more prudent, but whatever, each of us have a right to our own viewpoints.

[JayJuanGee]

Going to my local store to buy some btc.  Be right back.

In case anybody is wondering this is real.

They sent it with a fee of 0.0000678 BTC which was not enough for it to be included in the next block.  I guess people are actually using this bitcoin thing.

Yeah, every time you buy some BTC you want to tell us all about how long it takes to confirm. 

Probably better just to budget in 1-2 hours, rather than getting all chicken little excited about it for no reason.. 

Reminds me of your butty, BJA...  Oh, by the way, where has BJA been lately?  Haven't seen him around since before the Craig Wright fiasco.  Have we gotten lucky enough to rid ourselves of his sky is falling non-sense?  Probably not, because there still seem to be several stick-with-it fulblocaplypse converts continuing to preach the old dogma, and probably will continue all the way into the $600s and even into the $2,000s to suggest we are all doomed, we are doomed, etc etc.

[adamstgBit]

Going to my local store to buy some btc.  Be right back.

In case anybody is wondering this is real.

They sent it with a fee of 0.0000678 BTC which was not enough for it to be included in the next block.  I guess people are actually using this bitcoin thing.

Yeah, every time you buy some BTC you want to tell us all about how long it takes to confirm. 

Probably better just to budget in 1-2 hours, rather than getting all chicken little excited about it for no reason.. 

Reminds me of your butty, BJA...  Oh, by the way, where has BJA been lately?  Haven't seen him around since before the Craig Wright fiasco.  Have we gotten lucky enough to rid ourselves of his sky is falling non-sense?  Probably not, because there still seem to be several stick-with-it fulblocaplypse converts continuing to preach the old dogma, and probably will continue all the way into the $600s and even into the $2,000s to suggest we are all doomed, we are doomed, etc etc.

his shorts exploded...

[JayJuanGee]

If the Bitcoin exchange rate roughly doubles every 3 years due to halving (and hashrate rises in lockstep) and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

But of course the 'get rich quick' crowd won't or refuse to believe it, and will gladly part ways with their money on other scams and too-good-to-be-true "investments".

Conversely, if ETH exchange rate ...goes up by 1600%, what's the word I'm looking for? watevs, if ETH exchange rate increases roughly 16-fold every 5 months, and continues to do so for the next two decades, then its ROI rate will literally spank *every* other known investment in the world today that's been around for at least 7+ years or longer.

My stupid hypothetical more profitable than your stupid hypothetical. I win. brb, ether.

ETH hasn't been around for 7+ years yet. In fact let's talk in just 12 months, when I'm sure the ETH price will be MUCH MUCH lower than it is right now.  Many orders of magnitude lower in fact.  Because ETH = SCAM.

No, ETH hasn't been around for 7 years, what's your point?
Not sure where you get the "roughly doubling every 3 years." In the first three years, BTC price has gone up by roughly infinity, as it does with all cryptos.  In the following three, price went up to $1200, fell back to ~160, and recovered to 440 where it is now.
So "roughly doubles every 3 years"? Explain that shit.

it appears to roughly 10X every 3 years  

this time its different
this time its going to 100X

32,000$

Wowzie, wowzie... We're back on track for $32k... Yipppppppeeeeee!!!!!

There are probably several ways to slice bitcoin's price history, and I doubt that it can be characterized as linear.. and there is a possibility for another exponential growth period, and who knows the odds for such...

I will grant that we do seem to be in a very decent place that increases the odds for another exponential growth period, but, yeah, how much of one? how fast? and how far? and history remains only a small piece of such a speculative prediction puzzle.  

If we look at history, from which price point to which price point are we gonna select in order to make our claim about past growth?   For example:  From mid 2010 to present the growth has been 8,860x - yet I understand that number to be a bit skewed because the starting point is close to zero... but if we go from June 2011 to present the growth is about 15x  (but I would suggest that from 2011 to present the more representative growth rate would be about 45x from $10 to $450), and maybe only history will be able to tell us which portions of the growth curve are more representative and which parts are anomalies.

Here are the approximate price points:

In much of 2009 and early 2010, bitcoin was virtually free to those in the "right circles"  = $0

Starting in mid 2010, BTC was traded for around    = $.05

January 2011  = $.30

June 2011 =  $30

January 2012  = $5

January 2013  = $14

April 2013 = $260

July 2013 = $70

November 2013   = $1,200

January 2015  = $320

A large majority of 2015 = $180 to $300    (Mostly $230 to $260)

April 20, 2016 to May 20, 2016   = $435 to $470

 

[JayJuanGee]

Going to my local store to buy some btc.  Be right back.

In case anybody is wondering this is real.

They sent it with a fee of 0.0000678 BTC which was not enough for it to be included in the next block.  I guess people are actually using this bitcoin thing.

Yeah, every time you buy some BTC you want to tell us all about how long it takes to confirm.  

Probably better just to budget in 1-2 hours, rather than getting all chicken little excited about it for no reason..  

Reminds me of your butty, BJA...  Oh, by the way, where has BJA been lately?  Haven't seen him around since before the Craig Wright fiasco.  Have we gotten lucky enough to rid ourselves of his sky is falling non-sense?  Probably not, because there still seem to be several stick-with-it fulblocaplypse converts continuing to preach the old dogma, and probably will continue all the way into the $600s and even into the $2,000s to suggest we are all doomed, we are doomed, etc etc.

his shorts exploded...

hahahaha

kinda looks like this?

[dumbfbrankings]

Dat volume on battle for $440 gentlemen, rather remarkable.

(Who else isn't surprised that JJG likes Professional Wrestling, and the exposed asses of men?)