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

[PoolMinor]

wow, that bull is strong.

welcome to the show, take a seat  

Welcome Back My Friends to the Show that Never Ends by ELP

[DaRude]

Bitfinex is almost empty after $680 might go full retard

Howd'you know it's not empty of fiat as well.

Thats the problem - fiat is such a slow mover that when the exchange reserves dry up, demand dries up as well.

Running low as well, that's why we see the spread of $50 or 8% between finex and east. There's still about $3.5MM available in longs though as a short term loan till your wire clears, or to leverage long

[JayJuanGee]

It seems that Bitcoin, the security technology, is ready for that price and probably could even support coins at $20k or more.

What's your definition of 'ready'? It was effectively no more or less secure at $200 something and nothing much has changed in terms of infrastructure since then.

I'm not a technical person, so in some ways I rely upon the technical assertions of other people, and their various descriptions regarding bitcoin's security.

Accordingly, I am mostly referring to the hashing power, and the decentralized power of all of the computers that are securing bitcoin.  Also, my understanding is that there have been various unsuccessful attacks at the bitcoin's blockchain over the years, and none have been successful and additional security measures have been taken, too.

 So, in essence, I am relying on the technical claims that bitcoin is way too secure for its present value and the logical inferences that bitcoin computing infrastructure could fairly easily support a 30x or more increase in the secured value, and we could still rest assured that our coins would be safe.

[DaRude]

wow, that bull is strong.

welcome to the show, take a seat  

Welcome Back My Friends to the Show that Never Ends by ELP

Your avatar hunts me when i close my eyes

[MinermanNC]

Got about 27 days to hit 800-900...  for me that's a bare minimum for a smooth halving and continued somewhat" happy miners... 1000 would be ideal, of course higher is better lol

[sirazimuth]

holy shit!
did some billionaire bitcoin enthusiast get bored this weekend
 and decide to pump bitcoin just for shitz n giggles?

[toknormal]

Can't hold that Huobi down. It's got hold of an anti-gravity device.

[Spaceman_Spiff]

Stores worldwide are running out of popcorn...

[Oblodo]

[toknormal]

The 1-Week candles are now into December 2013 territory.

There's been nothing like it since then.

[adamstgBit]

Stores worldwide are running out of popcorn...

we'll need more popcorn, buy all the popcorncoin!

[nioc]

The 1-Week candles are now into December 2013 territory.

There's been nothing like it since then.

I was just looking at that.  3 straight weeks of green dildos 2 of which are very nice  

[spooderman]

dafuq is going on. i never understand these pumps. i love them and its exciting but i'm baffled as to why volume is way up when price miles higher than it was a short time ago.

are there really that many people who see it sitting at 250 for like 18 months who suddenly decide to buy when it's 600+?

[2015Bubble]

Bulls be like

[adamstgBit]

>720$ <48hours

[BlindMayorBitcorn]

dafuq is going on. i never understand these pumps. i love them and its exciting but i'm baffled as to why volume is way up when price miles higher than it was a short time ago.

are there really that many people who see it sitting at 250 for like 18 months who suddenly decide to buy when it's 600+?

[criptix]

I took the first option in the poll, just saying LOL

Btw its called FOMO!

[Spaceman_Spiff]

are there really that many people who see it sitting at 250 for like 18 months who suddenly decide to buy when it's 600+?

Absolutely, these are the people buying in now.

[toknormal]

dafuq is going on. i never understand these pumps. i love them and its exciting but i'm baffled as to why volume is way up when price miles higher than it was a short time ago.

are there really that many people who see it sitting at 250 for like 18 months who suddenly decide to buy when it's 600+?

No - there aren't but you've got to remember that only a minority are buy to hold.

Most markets are driven by traders constantly cashing out and in. The same people that were in the market at $300 won't be those same participants at another price. Some people are maximising fiat, others are maximising BTC. If you're a "fiat accumulator" then you cash out at every small top and back in at the dips. So the volume is from the same traders entering and exiting again and again.

Many will have joined at $300 and exited at $350 for example. Thousands of others in at $500 and out at $600 and everything in between.

You also can't tell who's gaining and who's losing because a fiat accumulator will take one side of the trade and a BTC accumulator the other side of the trade where one trader measures their gains in fiat and doesn't care how much bitcoin they hold, the other in bitcoin and doesn't care how much fiat they hold.

[spooderman]

Bulls be like

can confirm.

this is exactly what i be like.