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

[BathSaltsDealer]

[...] it appears that some folks have moved to other exchanges (off of Bitfinex)... but we need to get some volume before we attempt to hammer any coffin nails.  

There will be no drama at the End. No drawn-out funeral processions with weeping black-veiled women, no stoic undertakers in opera hats with those weird mourning veils, no funeral dirges swelling, no nails getting pounded into coffins (AFAIK, that sort of thing went out in the 1800s, and even then -- only for the terminaly poor. Driving nails through the lacquered and hand-rubbed lid of Perma-Seal Stainless Steel Princess Deluxe? Ugh! Unthinkable.) or hysterical widows throwing themselves into the grave.

This isn't gonna be like that. It's gonna be exactly like this: Everyone leaves, in a couple of weeks the neighbors start complaining about the nasty stench coming from 4b.

Source: All crypto coins/projects ever.

Probably, we should just agree to disagree because [...]

What did I say? Was it #9? pls disregard.


http://coinmarketcap.com/currencies/bitcoin/#markets

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[Torque]

Adam, you wanna know the REAL reason why Bitcoin doesn't get pumped to the moon anymore, and moving forward likely will never get pumped to the moon again?

Because they, the pumpers/hackers, completely rely on massive shorting to make the real money. But hackers know that Bitcoin's security is now rock solid.  They can't hack/exploit a flaw in the actual coin or network anymore (they could in the infancy days), and can't hack the one shitty exchange anymore that constituted 80% of it's trading volume (Mt. Gox).  The best they can do with Bitcoin now is try to hack one of its various exchanges and steal coins directly, using negative sentiment to their advantage, and this latest attempt seemed to work (Bitfinex).

But that all may change moving forward as Bitcoin's ecosystem continues to grow and mature.  Those holes will eventually get plugged for good.

So the best they that can do now is target shitcoins (and what they did with Ethereum was fucking brilliant.)

So any new shitcoin now that comes along, and gets pumped out of nowhere, should be regarded as completely dubious.  Because the grand hack is coming when the time for the crash is right. They don't pump it without already having the exploit/hack in their back pocket.

[adamstgBit]

[kobilica]

Let the bitcoin price fall.. payday is getting closer 

[gentlemand]

Because they, the pumpers/hackers, completely rely on massive shorting to make the real money. But hackers know that Bitcoin's security is now rock solid.  They can't hack/exploit a flaw in the actual coin or network anymore (they could in the infancy days), and can't hack the one shitty exchange anymore that constituted 80% of it's trading volume (Mt. Gox).  

Bitcoin had an exploit. It was plugged before anyone nefarious got their hands on it in 2010. That's the only one I've heard of apart from the 2013 hard fork. The biggest Gox hack that happened in front of everyone was rolled back and shorting didn't exist at the time anyway.

[Torque]

Because they, the pumpers/hackers, completely rely on massive shorting to make the real money. But hackers know that Bitcoin's security is now rock solid.  They can't hack/exploit a flaw in the actual coin or network anymore (they could in the infancy days), and can't hack the one shitty exchange anymore that constituted 80% of it's trading volume (Mt. Gox).  

Bitcoin had an exploit. It was plugged before anyone nefarious got their hands on it in 2010. That's the only one I've heard of apart from the 2013 hard fork. The biggest Gox hack that happened in front of everyone was rolled back and shorting didn't exist at the time anyway.

Yes, but pumpers need a hack, a valid FUD reason to dump and short into the ground.  Hacking Bitfinex gave them that.  So who's to say they won't do it again with another prominent exchange?  Or do it again to Bitfinex? (Assuming it wasn't an inside job of course).

In 2013, it was the Mt. Gox insolvency and the FUD of a China ban that gave them the massive drop they needed.

Also, Bitcoin may have a hard fork coming in the future. Who's to say that what happened to ETH/ETC (the split debacle) won't happen to Bitcoin too?  It creates confusion and fear for Average Joe in the market, and makes the whole risky proposition even worse for new comers.  

In fact if Bitcoin splits into 2 valid coin chains in the future that have to compete for the world's attention, I may finally walk away from Bitcoin forever and never look back. At that point I think many others will throw in the towel as well.

[gentlemand]

In fact if Bitcoin splits into 2 valid coin chains in the future that have to compete for the world's attention, I may finally walk away from Bitcoin forever and never look back. At that point I think many will throw in the towel.

Yeah. I probably would too. It's one thing for a crappy alt to do it, I don't think either Bitcoin would come out of it smelling too good. Your average regulator and business would probably forever strike off all crypto from their consider list as well.

[Torque]

So zooming out to 1d on the chart, from 5/24, bitcoin is just looking like your typical PnD bubble that we've seen so many times before.  A blow off top, followed by long legs down.  

Looks like it could eventually deflate all the way back to ~450.  

So Dafar, still mocking me thus far?

Quoting myself ftw.  Looks like we're just going to keep grinding down ~$10/week or so, until this bubble completely deflates.

Since there are no buyers, looks like the only thing that could put the floor in is the hashrate/mining cost, wherever that may lie. 

[Trouble821]

So zooming out to 1d on the chart, from 5/24, bitcoin is just looking like your typical PnD bubble that we've seen so many times before.  A blow off top, followed by long legs down.  

Looks like it could eventually deflate all the way back to ~450.  

So Dafar, still mocking me thus far?

Quoting myself ftw.  Looks like we're just going to keep grinding down ~$10/week or so, until this bubble completely deflates.

Since there are no buyers, looks like the only thing that could put the floor in is the hashrate/mining cost, wherever that may lie. 

It's gone down no more than $20 since then, and because of that you're predicting another massive bear market from which Bitcoin never recovers. Dafar will be mocking you in a few months when it's gone back above $600, not down to $450.

[savetherainforest]

[Vader/Lord Sith Picture] ( .. inserted below for more context...   )

Yeah... Sure you do.. ... It is just the big coil... it was expected to go up down 15-20$ ... but soon... it will go with +40-50$ moves up!  

Btw... they seem to look pretty alike those 2 old bastards..

[mymenace]

didn't think adam would sell his account

mmmm... yeah... that kind of comments are not adam's comments... shit happens!

How hard is it to believe Adam just comes here to pump shitcoins now?

not shitcoins, shitcoin.
there's a difference.
anyway its not about the shitcoin itself its about what the shitcoin represents.
seriously, this is a very cool thing ( OMNI ) the coin itself isn't all that interesting its the functionality the "OMNI layer" provides thats exciting.
basically "OMNI layer" resides on the bitcoin blockchain
it allows you to create assets on the blockchain
it also provides a decentralized exchange for these assets.
grab a front row seat.
its going to be a good show.

yes it is a fascinating development, http://www.rsk.co/ is another one doing smart contracts on the blockchain, great news for bitcoin with all these developers showing the dream - a basic decentralised finance of exchange (btc) that can be built upon to build a decentralised financial economy

ya these things are pretty cool
each project takes a different spin on it,
this one has a coin with a two way peg.
OMNI has USDT.
Ether Tries to do it all. ( but has its own blockchain... which has proved to be week   )
It's going to be interesting to see these projects grow / compete.

Actually Adam, no it's not interesting. At all.

Every new shitcoin that comes out has some sort of new "angle" or "tech twist" that the pumpers know they can exploit one day.  They buy a lot of the shit on the low for the first 6 months after launch, all the while looking for a way to hack/exploit it.  Once they have the perfect exploit in their back pocket, they run the coin up to the moon, all the while touting the "gee-whiz-it's-better-than-anything-else-especially-dinosaur-bitcoin" features.  All the n00b suckers pile in, wishing and hoping for dreams of riches, gloating that it'll take over everything 'cause it's 2.0.

Then, out of nowhere, the hack/exploit happens. The pumpers short the market, crash the coin, and all the fools watch as the price of the shitcoin plummets back to earth.

It's the same shit over and over.  Wash, rinse, repeat.

When will people ever learn?

this time its different.
this time the shitcoin isn't trying to "take over everything 'cause it's 2.0"
the coin depends on bitcoin...

how would you like to trade BTC/USD in a decentralized way?
maybe you need to create a token to represent shares in your company and automatic pay out BTC dividends to holder, and do this WITHOUT a third party
decentralized crowd sale!
you like? bitcoin provides!

ethereum does Some of this but it created its own blockchain ( and that worked out REAL nice didnt )
OMNI layer is on the bitcoin blockchain, and uses bitcoin addresses and bitcoin TX to do its thing..
what's good for OMNI is good for bitcoin and vis versa.

this is permissionless innovation at its finest.

yeah rome was not built in a day

yes there is going to be scammers, there everywhere

but the real developers give them notice and the time, this is great for the people that they have an option, either use a bank and their new "Utility settlement coin" or use bitcoin a decentralized financial economy

[savetherainforest]

Anyone has any idea of how this project is moving along?? http://bravenewcoin.com/news/ukraine-to-use-blockchain-technology-in-curtailing-corruption-when-selling-government-assets/

I mean someone from Ukraine if they can confirm?..  they said they will put billboards and stuff to advertise or something like that... Or at least any chatter/update/info on the subject... cuz you know.. cyrilic alphabet is not really that "at hand".

[Torque]

So zooming out to 1d on the chart, from 5/24, bitcoin is just looking like your typical PnD bubble that we've seen so many times before.  A blow off top, followed by long legs down.  

Looks like it could eventually deflate all the way back to ~450.  

So Dafar, still mocking me thus far?

Quoting myself ftw.  Looks like we're just going to keep grinding down ~$10/week or so, until this bubble completely deflates.

Since there are no buyers, looks like the only thing that could put the floor in is the hashrate/mining cost, wherever that may lie. 

It's gone down no more than $20 since then, and because of that you're predicting another massive bear market from which Bitcoin never recovers. Dafar will be mocking you in a few months when it's gone back above $600, not down to $450.

If it eventually settles back to ~500, then I predicted right and I win.

If it heads above 600, I simply get richer.  So I win again.

Either way, I win. 

[JayJuanGee]

[...] it appears that some folks have moved to other exchanges (off of Bitfinex)... but we need to get some volume before we attempt to hammer any coffin nails.  

There will be no drama at the End. No drawn-out funeral processions with weeping black-veiled women, no stoic undertakers in opera hats with those weird mourning veils, no funeral dirges swelling, no nails getting pounded into coffins (AFAIK, that sort of thing went out in the 1800s, and even then -- only for the terminaly poor. Driving nails through the lacquered and hand-rubbed lid of Perma-Seal Stainless Steel Princess Deluxe? Ugh! Unthinkable.) or hysterical widows throwing themselves into the grave.

This isn't gonna be like that. It's gonna be exactly like this: Everyone leaves, in a couple of weeks the neighbors start complaining about the nasty stench coming from 4b.

Source: All crypto coins/projects ever.

Probably, we should just agree to disagree because [...]

What did I say? Was it #9? pls disregard.


http://coinmarketcap.com/currencies/bitcoin/#markets

Yeah... you are worthy of disregard because you are not really saying anything... except "look at me... blah, blah, blah, blah, talking nonsense and making stabs in the dark with little to no rationale"

[adamstgBit]

the price is wrong!

like for real we should be pushing 800.

[mymenace]

the price is wrong!

like for real we should be pushing 800.

fake walls, fake volume, is it a fake market?

gold as well

should be an increase in interest rates, if feds decide to keep interest rates on hold or reduce then fake stock market?

these factors on current markets would hypothetically put btc at $800

[aztecminer]

So zooming out to 1d on the chart, from 5/24, bitcoin is just looking like your typical PnD bubble that we've seen so many times before.  A blow off top, followed by long legs down.  

Looks like it could eventually deflate all the way back to ~450.  

So Dafar, still mocking me thus far?

Quoting myself ftw.  Looks like we're just going to keep grinding down ~$10/week or so, until this bubble completely deflates.

Since there are no buyers, looks like the only thing that could put the floor in is the hashrate/mining cost, wherever that may lie. 

It's gone down no more than $20 since then, and because of that you're predicting another massive bear market from which Bitcoin never recovers. Dafar will be mocking you in a few months when it's gone back above $600, not down to $450.

bitcoin is going below $250 due to BFX being shutdown and chinese miners panicing .

[Fatman3001]

In-fucking-credible

Adam is an alt-shill account and BTC is losing ground to the shittiest coin of all

[BlindMayorBitcorn]

Why am I so old and cynical? Why do I miss all the train? Why?

[Searing]

Why am I so old and cynical? Why do I miss all the train? Why?

Heh we should start a club ...lonely hearts missed train lame ass damn it all to hell ...frigging tired of waving off the dock at the ship sailing away club

(that made me feel  better....let the dark side of the angst flow......jedi crypto wise)