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

[MySecondCunt]

[...]
When the world learns the number 2 crypto is being run by Mr. Thompson's 9th grade Computer Science class, it gives some big-pocket investors some pause, across the entire sector. 

What's that word that's forever ruined for me by teh local cognoscenti? Conflating? Yeah, stop conflating stuffs. The The_XXX is no more XXXXX than MtGox is Bitcoin. Less, actually.

[gentlemand]

When the world learns the number 2 crypto is being run by Mr. Thompson's 9th grade Computer Science class, it gives some big-pocket investors some pause, across the entire sector. 

Maybe you don't need trust to transact financially in the brave new world, but if you don't have the technical chops and/or time to distinguish players within a new sector, you need trust to invest there.

I find it a tad tricky to muster up much sympathy if they haven't done their due diligence. Anyone with half a day to read up will soon realise that crypto is littered with amateurism, children and scumbags.

[Torque]

So this all makes perfect sense, eh?

Weeks and weeks of excitement and price rise on all exchanges.  People were saying China was leading, providing 90% of the volume, and couldn't get enough.

Then an auction ends.

Then an exchange has network problems and goes offline for a bit.

Meanwhile price plummets.

Exchange comes back online.

But now we're at -130/btc, and all trading has essentially come to a complete halt.

Makes perfect sense, right?  But...but.. China demand?? Right??  Fellaz??

I just put bitcoinwisdom on 6h so it shows from the beginning of the run up and I don't see volume going down.  Not at 4h, 2h or 1h either.

BTW I'm not used to anything making sense.

High selloff volume is not the same as high buying volume.  If China buying demand was really there and accounted for 90%, they'd just steamroll over this sell off, actually they would look at it as a huge buying op.

I'm getting sick of people still touting that 'China' is somehow responsible for all the supposed demand.  They aren't, because the whales that ran this up are not Chinese, they simply have open accounts on all worldwide exchanges include the Chinese ones.  That's the dirty secret that the whales don't want you to know.

[infofront]

Most "amateur" investors won't invest until there's a bitcoin ETF. The professional investors are going to be able to differentiate BTC from the shit altcoins, like ETH.

[ahpku]

That's the dirty secret that the whales don't want you to know.

And there I was, thinking Mr. Moneybags would just pick one exchange and stick with it. But now you tell me he avails himself of arbitrage opportunities and ... less savory ways to profit from poorly regulated markets spread out across multiple jurisdictions?
Well!

[aztecminer]

what happen to the moon shot guys ??

[Tzupy]

what happen to the moon shot guys ??

[Gyrsur]

what happen to the moon shot guys ??

two weeks^TM

[julian071]

what happen to the moon shot guys ??

two weeks^TM

Sounds about right. One more dump tomorrow and a couple of days after that because of no brexit (or brexit, there'll be dumping regardsless), after that moon.

[BlindMayorBitcorn]

Buy some broken shitcoins? Hmm. Sounds like a great idea! Of course I’m the kind of guy that sticks screwdrivers in his ears for sport. But still, excellent advice from Bitcoin News Magazine. Everybody game?

[strawbs]

what happen to the moon shot guys ??

two weeks^TM

Sounds about right. One more dump tomorrow and a couple of days after that because of no brexit (or brexit, there'll be dumping regardsless), after that moon.

I tend to agree. Once the Brexit referendum result becomes clear (estimated to be between 02.00 and 06.00 UTC on Friday), the market will have some certainty, regardless of the result. I suspect this will lead to falling prices for gold and BTC as relative safe-havens.  Of course, the market will likely move before that, on rumour.  As such, it wouldn't be surprising to see BTC drop substantially anytime between now and Friday, followed by a steady rise back towards ATH - which was its trajectory before Brexit jitters and Bitfinex going offline.

[MySecondCunt]

Bitcoin Core developer Peter Todd told CoinDesk:

   "My thinking is if I can’t explain a system to a drunk guy with a fine arts degree and have him have a decent chance of understanding how it works, at least at some level, chances are the system is too complex for me to understand." http://www.coindesk.com/the-dao-bitcoin-development/

Parsing: if(I can’t explain a system) then(system is too complex for me to understand)

If Peter codes like he talks, bitcoin is pretty much done. And yes, this is very relevant to bitcoin price, unfortunately

[ahpku]

Buy some broken shitcoins? Hmm. Sounds like a great idea! Of course I’m the kind of guy that sticks screwdrivers in his ears for sport. But still, excellent advice from Bitcoin News Magazine. Everybody game?

Yes, buy broken shitcoins if the price of said broken shitcoin is increasing at jaw-dropping rate, allowing you to sell that broken shitcoins at a substantial profit later. It's called trading.
That's what this sub is about.
If this sub was called "chose a coin to marry and hodl 'til death doth ye part," you'd have an excellent point.

[BlindMayorBitcorn]

Buy some broken shitcoins? Hmm. Sounds like a great idea! Of course I’m the kind of guy that sticks screwdrivers in his ears for sport. But still, excellent advice from Bitcoin News Magazine. Everybody game?

Yes, buy broken shitcoins if the price of said broken shitcoin is increasing at jaw-dropping rate, allowing you to sell that broken shitcoins at a substantial profit later. It's called trading.
That's what this sub is about.
If this sub was called "chose a coin to marry and hodl 'til death doth ye part," you'd have an excellent point.

I forgot this was a thread of savvy investors; by all means.  Have a wafer-thin mint to top it off. Keep us posted.

[abercrombie]

what happen to the moon shot guys ??

is crypto done?? 

[JimboToronto]

Good morning Bitcoinland.

Not much change overnight.



Seems to be forming a triangle. Up or down?

[DaRude]

Buy some broken shitcoins? Hmm. Sounds like a great idea! Of course I’m the kind of guy that sticks screwdrivers in his ears for sport. But still, excellent advice from Bitcoin News Magazine. Everybody game?

I'm the kind of guy who once he sees a bunch of people sticking screwdrivers in their ears and then fall in agony, thinks it's a good idea and does it himself. So yeah where can i buy these shitcoins, looks like people are having fun over there i wanna join

[0rganic]

Bitcoin Core developer Peter Todd told CoinDesk:

   "My thinking is if I can’t explain a system to a drunk guy with a fine arts degree and have him have a decent chance of understanding how it works, at least at some level, chances are the system is too complex for me to understand." http://www.coindesk.com/the-dao-bitcoin-development/

Parsing: if(I can’t explain a system) then(system is too complex for me to understand)

If Peter codes like he talks, bitcoin is pretty much done. And yes, this is very relevant to bitcoin price, unfortunately

Another troll on ignore!

[JimboToronto]

It's called trading.
That's what this sub is about.
If this sub was called "chose a coin to marry and hodl 'til death doth ye part," you'd have an excellent point.

It's not called "Trading". It's called "Speculation".

Trading and holding are both speculation.

[jojo69]

When the world learns the number 2 crypto is being run by Mr. Thompson's 9th grade Computer Science class, it gives some big-pocket investors some pause, across the entire sector. 

hah!