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

[BlindMayorBitcorn]

^Or miner...

[soullyG]

Happy Halvening everyone! Bear trap over?

[JayJuanGee]

Countdown begins.....

4 years until halving

Bitcoin to the moon! Lol. A lot of pre-halving hype and then nothing. The chineses are playing with us, they control de market.

Yeah right, another one of these superficial and foundationless assertions regarding supposed "chinese control"....

Can I just say, Bullshit?  Oh, I just did.  

Had you watched the Chinese markets volume of the last 2 or 3 years? They control de market, 90% of volume is from China. And this is not only about Bitcoin, all the altcoins had the same problem.

Those big and shady chinese exchanges are centralized and with low or not fee at all.

yes, I will concede that chinese exchanges are known for low or no fees, lot's of trading bots, and even some faked volume... and so they have been discredited for quite a while (maybe around a couple of years)..

Sure, there is some symbiosis, and there is some back, and forth in which chinese may seem to be leading, but I would not attribute correlation with causation. 

And, sure, on an individual level, you can figure out whatever indicators work for you, and in that regard, you can follow the chinese exchanges to your heart's content, but makes you look kind of silly if you are spouting out such nonsense in these forums without qualifying your observations to some extent with acknowledgements that there is quite a bit of skepticism in respects to chinese exchanges (and that is not at all meant to be a xenophobic assertion from me).. 

OkCoin, Huobi, Bitfinex, BitStamp, BTCChina... Tell me ONE not chinese big exchange.

Well, out of the ones that you listed, O.k coin, huobi and BTCChina are trading CNY/BTC pairs and known for the issues that I mentioned in my earlier post.

Bitfinex, though it is in hongkong, has USD/BTC pairings and fees and surely that exchange has more sway than the other chinese exchanges, and some people in the west even peg to Bitfinex.

To my knowledge, Bitstamp is in Europe.

Price is ultimately driven by a variety of exchange activities and other activities, and my main suggestion is to not place too much emphasis on the chinese exchanges including O.k coin, huobi and BTCChina. 

Even though Bitfinex has its own issues of margin trading and shutting down, there is quite a bit of muddying of logic, if you are going to lump Bitfinex in with the "chinese exchanges", even though technically you are correct that it is located, to my knowledge in Hong Kong.. I doubt that most folks are lumping Bitfinex in such categorizations of "chinese exchanges"..

[kobilica]

Yeah looks like it.. shitload of people sold but price kept rising and now they are like  ", i don't want to miss this train, buy buy buy"

Shitload? Looked like just one to me.

Doubt it's just one.

[Fatman3001]

Countdown begins.....

4 years until halving

Bitcoin to the moon! Lol. A lot of pre-halving hype and then nothing. The chineses are playing with us, they control de market.

Yeah right, another one of these superficial and foundationless assertions regarding supposed "chinese control"....

Can I just say, Bullshit?  Oh, I just did.  

Had you watched the Chinese markets volume of the last 2 or 3 years? They control de market, 90% of volume is from China. And this is not only about Bitcoin, all the altcoins had the same problem.

Those big and shady chinese exchanges are centralized and with low or not fee at all.

yes, I will concede that chinese exchanges are known for low or no fees, lot's of trading bots, and even some faked volume... and so they have been discredited for quite a while (maybe around a couple of years)..

Sure, there is some symbiosis, and there is some back, and forth in which chinese may seem to be leading, but I would not attribute correlation with causation. 

And, sure, on an individual level, you can figure out whatever indicators work for you, and in that regard, you can follow the chinese exchanges to your heart's content, but makes you look kind of silly if you are spouting out such nonsense in these forums without qualifying your observations to some extent with acknowledgements that there is quite a bit of skepticism in respects to chinese exchanges (and that is not at all meant to be a xenophobic assertion from me).. 

OkCoin, Huobi, Bitfinex, BitStamp, BTCChina... Tell me ONE not chinese big exchange.

It's ok. The chinese are better than us. They'll make us rich.

[Recordura]

Doubt it's just one.

Why?
@Fatman3001, Chinese are better than us. They'll make us poor.

[Laosai]

Yeah looks like it.. shitload of people sold but price kept rising and now they are like  ", i don't want to miss this train, buy buy buy"

Shitload? Looked like just one to me.

Doubt it's just one.

If it's just one he's not only dumb, but also much poorer right now than before.

[Mrpumperitis]

yea fatman ive been bullish on crypto since just before Brexit and even more bullish now that Trump looks likely to destroy the USA economy and Dollar.

However short term i do see BTC testing $500, this will test the network and the community...will fear set in and we go lower?, will miners leave ?(short term) once these have been tested, i think we will begin recovery around end sept-oct. United States presidential election of 2016, Tuesday, November 8, 2016 will be the the time we go over $1k as many people will leave( or be thrown out ,lol) and BTC and ETH will allow them to move money out easier and quicker as we move into 2017.

[Fatman3001]

yea fatman ive been bullish on crypto since just before Brexit and even more bullish now that Trump looks likely to destroy the USA economy and Dollar.

However short term i do see BTC testing $500, this will test the network and the community...will fear set in and we go lower?, will miners leave ?(short term) once these have been tested, i think we will begin recovery around end sept-oct. United States presidential election of 2016, Tuesday, November 8, 2016 will be the the time we go over $1k as many people will leave( or be thrown out ,lol) and BTC and ETH will allow them to move money out easier and quicker as we move into 2017.

If you look at how Bitmain has been distributing their new super-efficient miners it looks like they're trying to avoid a hashrate drop. They had a limit of 5-10 miners per order since the release of the Antminer S9. The latest Batch (released today) has no limit.

[Fatman3001]

Doubt it's just one.

Why?
@Fatman3001, Chinese are better than us. They'll make us poor.

Scared perhaps. Not poor.

[Recordura]

Doubt it's just one.

Why?
@Fatman3001, Chinese are better than us. They'll make us poor.

http://66.media.tumblr.com/tumblr_mej25o9NR11qk6wc3o1_500.gif

Scared perhaps. Not poor.

As long as we don't rely on their mining/exchange consortium, we'll be just fine

[ImI]

smells like pump

[yefi]

So where's that drop in hashrate that was predicted by the doomsayers?

[BlindMayorBitcorn]

Countdown begins.....

4 years until halving

Bitcoin to the moon! Lol. A lot of pre-halving hype and then nothing. The chineses are playing with us, they control de market.

Yeah right, another one of these superficial and foundationless assertions regarding supposed "chinese control"....

Can I just say, Bullshit?  Oh, I just did.  

Had you watched the Chinese markets volume of the last 2 or 3 years? They control de market, 90% of volume is from China. And this is not only about Bitcoin, all the altcoins had the same problem.

Those big and shady chinese exchanges are centralized and with low or not fee at all.

yes, I will concede that chinese exchanges are known for low or no fees, lot's of trading bots, and even some faked volume... and so they have been discredited for quite a while (maybe around a couple of years)..

Sure, there is some symbiosis, and there is some back, and forth in which chinese may seem to be leading, but I would not attribute correlation with causation. 

And, sure, on an individual level, you can figure out whatever indicators work for you, and in that regard, you can follow the chinese exchanges to your heart's content, but makes you look kind of silly if you are spouting out such nonsense in these forums without qualifying your observations to some extent with acknowledgements that there is quite a bit of skepticism in respects to chinese exchanges (and that is not at all meant to be a xenophobic assertion from me).. 

OkCoin, Huobi, Bitfinex, BitStamp, BTCChina... Tell me ONE not chinese big exchange.

It's ok. The chinese are better than us. They'll make us rich.

I'm gonna buy one if that happens.



Notice the 33 points of articulation. 

[r0ach]

Bitfinex shorts just got to a new ATH (expressed in USD).

Good luck boys!

Waiting on the short slaughter that's about to commence like

[rolling]

So where's that drop in hashrate that was predicted by the doomsayers?

The miners are still holding out hope the price will at least double to cover their losses. It will take a while for the hashrate to drop and it will only happen if the price remains suppressed for an extended period.

[kobilica]

What miners might be thinking right now:

1. "if I stop mining now others will mine instead of me so I better not stop mining now"

2. "i will continue mining because others will stop mining"

3. "i wont let all this equipment go to waste"

4. "what halvening? what is that"

 

[BlindMayorBitcorn]

/Doom

Go back to your homes and gardens, kiss your loved ones; lest we never forget those who toil such that we might enjoy this great harvest.

[nioc]

Speaking of valuable, at the time of the having I will be visiting a very old person, much older than Jimbo.

Tell him/her that I said "hi" if you run out of conversation material. That kind of stuff fills in a lot of time with old people.


"Aw, that's nice!"
"He's such a nice boy."
"Who?"
"Have I met him?"
"Was he the creepy guy down the street?"
"Who's his parents?"

She is 93 and has most of her marbles.  Although I didn't run out of conversational material I wanted to tell her about your post so that meant I had to explain btc to her at least a little bit.  She laughed at your post, that is she found it humorous.  She understood it although again your example is not her situation.  She thought having a forum where people could talk about common interests was a good and interesting idea.  I don't know what she would think if she actually knew the way many people conduct themselves here  

So much drama here but then again I don't trade.  Like Jimbo I accumulate for the long run even though our long run is shorter than most here.  Btc is not the only coin whose rise I feel is inexorable.  

[GreekGeek]

Sorry guys , beeing drunk for the past week
Did the halving happened yet or what ?