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

[Frost]

Within an hour we should know if the Chinese can pump one more time, or we crash directly.

The game is not over yet.... new ATH by the end of the month.

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[DeathAngel]

Within an hour we should know if the Chinese can pump one more time, or we crash directly.

Or we could do nothing & go sideways in a 660 - 700 range for a while

[toknormal]

Relative market volume is higher.

If you want to invent metrics to suit your case and use "relative market volume" as a measure then I think you'll find you got blown away by YB Coin which had 32 times more "Relative market volume" than Ethereum  

[oda.krell]

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.

Agreed with most of the post/explanation, just the last paragraph makes it sound like a binary case, when in reality, it's more likely to be graded. Some aim to accumulate on one time span, but in order to do so, aim to maximize fiat on another, just as an example. Still, the binary simplification is perhaps necessary as a simplification necessary to describe/conceptualize the situation, for practical purposes.

[podyx]

Cmon, let's see that 700+

[elux]

I tipped a friend who works at the biggest Dutch tech-website (90 million pageviews per month), and they published an article:

http://tweakers.net/nieuws/112383/totale-waarde-van-bitcoins-overschrijdt-grens-van-tien-miljard-dollar.html

 

Sweet!

[empowering]

..... how is everybody?  

[Tzupy]

Huobi running out of steam...

[pariahbit]

Relative market volume is higher.

If you want to invent metrics to suit your case and use "relative market volume" as a measure then I think you'll find you got blown away by YB Coin which had 32 times more "Relative market volume" than Ethereum  

That's why market volume is only relevant when huge spreads develop, i.e. you can't sell enough of your coin @spot. Clearly that's not the case for ETH, it's growing at an astounding rate, the price is skyrocketing. Bitcoin, OTH? Struggling to stay 1/2 its ATH
And that's OK, because it's not about money. BTC has a thriving, vibrant community

Edit: but feel free to explain to me how "Ethereum's gain (against $USD) is because people are buying BTC, not Ether" works

[Elwar]

Relative market volume is higher.

If you want to invent metrics to suit your case and use "relative market volume" as a measure then I think you'll find you got blown away by YB Coin which had 32 times more "Relative market volume" than Ethereum 

That's why market volume is only relevant when huge spreads develop, i.e. you can't sell enough of your coin @spot. Clearly that's not the case for ETH, it's growing at an astounding rate, the price is skyrocketing. Bitcoin, OTH? Struggling to stay 1/2 its ATH
And that's OK, because it's not about money. BTC has a thriving, vibrant community

Just paid my hosting service with bitcoins.

Which service accepts ethereums?

[pariahbit]

Relative market volume is higher.

If you want to invent metrics to suit your case and use "relative market volume" as a measure then I think you'll find you got blown away by YB Coin which had 32 times more "Relative market volume" than Ethereum  

That's why market volume is only relevant when huge spreads develop, i.e. you can't sell enough of your coin @spot. Clearly that's not the case for ETH, it's growing at an astounding rate, the price is skyrocketing. Bitcoin, OTH? Struggling to stay 1/2 its ATH
And that's OK, because it's not about money. BTC has a thriving, vibrant community

Just paid my hosting service with bitcoins.

Which service accepts ethereums?

Just paid for everything I buy with CC. Gives me buyer protection and cash back.
If it's about merchant acceptance, go fiat

[spike420211]

I was expecting a Monday Morning crash/downturn.
NOPE.
my 0.6514864 BTC on Coinbase, once @ $346 10 days ago,
is now at $455.
Can't complain...

[marcus_of_augustus]

I don't care what Altcoin you want to follow but go somewhere else to talk about it thanks ... look at the title where does that say Altcoin discussion?? ... I have no problem with Altcoins but stop being shilling ignorant annoying impolite little fucks and take it somewhere else ... thanks, don't be disrespectful to your hosts, i know you are all excited but be good little puppies and go piss on the mat that was laid out for you at the right place.

[spike420211]

Just paid for everything I buy with CC. Gives me buyer protection and cash back.
If it's about merchant acceptance, go fiat

You can't get buyer protection from a debit card?
[Shift on Coinbase comes to mind]
Just make sure you pay your CC ON TIME
and GTFO b4 the fees hit...

[rjclarke2000]

What was the ATH? 1200 and something but what?

I didn't hold many bitcoins last time round.

[pariahbit]

Just paid for everything I buy with CC. Gives me buyer protection and cash back.
If it's about merchant acceptance, go fiat

You can't get buyer protection from a debit card?
[Shift on Coinbase comes to mind]
Just make sure you pay your CC ON TIME
and GTFO b4 the fees hit...

I can't get cash back (free money) from my debit card, but yeah, I use that too.
Why would I want to buy BTC, pay fees, all to turn it back into fiat with Shift/ Coinbase debit card, when my CC lends me money for free & pays me to spend it?

>pay your CC ON TIME
Yeah, that's what I've been doing. Paying my debts on time. Does that sound like an unusual concept 2 u?

[toknormal]

Edit: but feel free to explain to me how "Ethereum's gain (against $USD) is because people are buying BTC, not Ether" works

Certainly.

Ever taken a train ride ? Well if the train's travelling at 80 MPH and you take a stroll to the buffet car for a coffee, you'll actually be doing around 82MPH - 2MPH faster than the train.

There's a reason that every exchange expresses all alt-coin values in one denomination only and thats because one coin serves as the front door for this entire market.

(And it ain't no Lego-Coin)  

[Rampion]

Relative market volume is higher.

If you want to invent metrics to suit your case and use "relative market volume" as a measure then I think you'll find you got blown away by YB Coin which had 32 times more "Relative market volume" than Ethereum 

That's why market volume is only relevant when huge spreads develop, i.e. you can't sell enough of your coin @spot. Clearly that's not the case for ETH, it's growing at an astounding rate, the price is skyrocketing. Bitcoin, OTH? Struggling to stay 1/2 its ATH
And that's OK, because it's not about money. BTC has a thriving, vibrant community

Just paid my hosting service with bitcoins.

Which service accepts ethereums?

Regardless of that, Ethereum is bad money. There's no issuance plan (or let's say there is a new issuance plan every 2 months) nor a limit to ether supply, Vitalik will generate more ether (or not) as he sees fit. At the end of the day he is a de facto central banker, like it or not. Bitcoin's value proposal is the opposite: finite supply and predictable issuance rate - and that's what makes Bitcoin sound money.

[pariahbit]

Edit: but feel free to explain to me how "Ethereum's gain (against $USD) is because people are buying BTC, not Ether" works

Certainly.

Ever taken a train ride ? Well if the train's travelling at 80 MPH and you take a stroll to the buffet car for a coffee, you'll actually be doing around 82MPH - 2MPH faster than the train.

There's a reason that every exchange expresses all alt-coin values in one denomination only and thats because one coin serves as the front door for this entire market.

(And it ain't no Lego-Coin)  

>There's a reason that every exchange expresses all alt-coin values in one denomination only
http://s32.postimg.org/x6d1odzdh/Capture.jpg
presto change-o!
http://s32.postimg.org/jnf1l0vv9/Capture.jpg
>Ever taken a train ride ?
You eat a lot of acid huff a lot of gas, Miller, back in the hippie days?

>thats because one coin serves as the front door
Lol, Most exchanges have ETH/USD pairs. Welcome to 2016

[DaRude]

Edit: but feel free to explain to me how "Ethereum's gain (against $USD) is because people are buying BTC, not Ether" works

Certainly.

Ever taken a train ride ? Well if the train's travelling at 80 MPH and you take a stroll to the buffet car for a coffee, you'll actually be doing around 82MPH - 2MPH faster than the train.

There's a reason that every exchange expresses all alt-coin values in one denomination only and thats because one coin serves as the front door for this entire market.

(And it ain't no Lego-Coin)  

What if it's a BTC train and i'm in a first car, and etherpoop is a buffet car, which is trailing all the way in the back of the train? Then i'll be moving slower than the train. I like this analogy