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

[TERA]

I don't think the DAO hack is actually good for us. I think it's actually somehow related to yesterday btc dump based on some accumulation indicators,  and it could put an end to the recursive crypto hype machine where people suddenly thought crypto was going to replace the world's businesses by the end of the year.

[inca]

I don't think the DAO hack is actually good for us. I think it's actually somehow related to yesterday btc dump based on some accumulation indicators,  and it could put an end to the recursive crypto hype machine where people suddenly thought crypto was going to replace the world's businesses by the end of the year.

None of that reduces or alters the value proposition implied by bitcoin as a store of value and payment system.

It does mean eth is a sell for a bit until the dust settles.

The market is fickle. One push into the 8xx range from the Chinese and ethereum and the DAO is forgotten.

[adamstgBit]

there's a hidden billion dollar bidwall, i can FEEEEL it.

[Bavaria]

I just realized that despite how we dropped from 780 to 707 and then back to 757, today feels like a pretty calm day somehow. Anyone else feel like that?

The day is not calm for me. I wanted to buy more btc at $710 but did not have the time because of btc`s rapid bounce back to $750

[Torque]

I don't think the DAO hack is actually good for us. I think it's actually somehow related to yesterday btc dump based on some accumulation indicators,  and it could put an end to the recursive crypto hype machine where people suddenly thought crypto was going to replace the world's businesses by the end of the year.

Actually I think it's the opposite. I am hopeful that people have finally learned their lesson, that if they are going to buy some cryptocurrency during this run, or just to hold/invest in it long term (esp if they are new to all this), then there is only one such currency that was launched with the most pure/noble of intentions, considered the oldest, most secure and most bug-free (as can be after 7 years) at this point:

BITCOIN

The vast majority of alt coins really are just an attempt to lure gullible, greedy people away from consolidating into one solid, secure, global, decentralized cryptocurrency, which only slows Bitcoin's overall growth, maturity, and legitimacy.

[dumbfbrankings]

Now that ETH is hacked and dead... it is only a matter of hours before $800 is breached, for good.

Hope everyone remembered to pack their moon boots, we're going to need them.  

[Xiaoxiao]

there's a hidden billion dollar bidwall, i can FEEEEL it.

Why do you spread so much anti FUD?

[adamstgBit]

there's a hidden billion dollar bidwall, i can FEEEEL it.

Why do you spread so much anti FUD?

its fun.

[TERA]

I almost went all in on the dao crowdsale but made a last minute decision to cut that down to 3%

[calme]

I did go all in on DAO presale. Then sold to go long on BTC on leverage

[bitebits]

I just realized that despite how we dropped from 780 to 707 and then back to 757, today feels like a pretty calm day somehow. Anyone else feel like that?

The day is not calm for me. I wanted to buy more btc at $710 but did not have the time because of btc`s rapid bounce back to $750

Try again with EUR, I am sure you will still manage to get a few bits. Hurry!

[AlexGR]

Winter Weekend is coming...

Curious to see what happens by Monday morning.... 700, 800, 900, or even 1000+ ?...

[rjclarke2000]

My opinion based on absolutely nothing is that we will stay up in the high 7s this weekend. I got to this figure by knowing very little and having no facts or evidence to back it up.

I have been around here a long time lurking and posting useless waffle so don't go thinking this information may be correct in any way.

Thank you for reading this.

[JayJuanGee]

Can someone explain how a marginally lowering hash rate actually impacts network security?  Is there a malicious entity out there that has been developing Peta hashes of power at the same rate as our miners and he's waiting to take over when a drop occurs?

I think that is an additional reason why the speculation of a drop or even a halvening (likely worse case scenario) of the hash rate is a red herring subject (and FUCD spreading).   There seems to be so much extra cushionening in bitcoin's mining power that none of these purported hypothetical regarding dropping of hashrate even materially maters in the whole scheme of thing - even though it gives anti-bitcoiners and corporate shills nonsensical talking points that they can attempt to make sound logical and convincing.

[JayJuanGee]

Can someone explain how a marginally lowering hash rate actually impacts network security?  Is there a malicious entity out there that has been developing Peta hashes of power at the same rate as our miners and he's waiting to take over when a drop occurs?

The large miners are all well known so it would have to involve one of these 2 possibilities:

1) Chinese government targeting several large miners and forcing them under duress to 51% attack
2) Secret state government slowly hording miners and not turning them on while they accumulate slowly as to not raise suspicions from ASIC manufactures and than wait till a slight drop to 51% attack.

Both are extremely unlikely but 1) is more likely of the 2 possibilities and would force our nodes to have to HF the chain with one of many solutions. 2) extremely unlikely as states cannot keep secrets and a project of this magnitude would be very difficult to hide as it involves an extremely large facility with many employees.

Again , both are very unlikely, but we should def start taking steps to decentralize mining more.

Probably one of the smarter things that governments could do is to get involved in mining... I mean it would be a kind of "if you cannot fight them, then join them" kind of philosophy.

We will see if this ever happens, or maybe how long it will take before it happens and get a mining race.. and maybe forking if governments attempt to wield too much control..

[toknormal]

Borgan dumping.

[LFC_Bitcoin]

Got to laugh at all these shitty altcoins that come & go.

[Tzupy]

This makes me happy that I waited for a clear direction, and didn't go blindly long.

[yefi]

Now that ETH is hacked and dead... it is only a matter of hours before $800 is breached, for good.

Hope everyone remembered to pack their moon boots, we're going to need them.  

Lambie is bullish? Oh no, this means we're going to crash!  

[dumbfbrankings]

Can someone explain how a marginally lowering hash rate actually impacts network security?  Is there a malicious entity out there that has been developing Peta hashes of power at the same rate as our miners and he's waiting to take over when a drop occurs?

I think that is an additional reason why the speculation of a drop or even a halvening (likely worse case scenario) of the hash rate is a red herring subject (and FUCD spreading).   There seems to be so much extra cushionening in bitcoin's mining power that none of these purported hypothetical regarding dropping of hashrate even materially maters in the whole scheme of thing - even though it gives anti-bitcoiners and corporate shills nonsensical talking points that they can attempt to make sound logical and convincing.

The price has doubled recently, so there will be no real change for miners when the reward halves.

But ur right, FUCDers r gona du what FUCDers du... FUCD. They will stop at nothing in there efforts to destroy Bitcoin, which is strong because it never changes. Status quo baby, fork off if you dun't like it.

Meanwhile, the big boy buys just keep rolling in for $7xx coins.