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

[Denker]

its like a balloon being held under water its eventually got to go up 

Yep, the downward pressure to try & take us below the high 590's was pretty pathetic.

I agree.Last night was a good example of that.
Small drop from 604 down to 598 and then hanging around the 600 range.
And right now we are again back up ~608 on bitcoinaverage.
Imo we could see another rise to 650+ pretty soon.

[BathSaltsDealer]

Imo we could see another rise to 650+ pretty soon.

Because halvening?

[Torque]

Remember kids, bitcoin is the only way out, because...

[Dafar]

Mr. Torque.... you've been quiet recently. What happened to deflating back to $450 and you calling me out on it?

YES I DID MOCK YOU AND I WON... YOU THINK I'M GOING TO FORGET YOUR ATTEMPT AT HUMILIATING ME??? HUH???


I don't f*** around boy

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?

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.  

[Fatman3001]

Yeez, August 14th. Torque cuts deep.

[Torque]

Why so violent Dafar? Are you still butthurt about a bad trade or something?

I'm a permabull hodler that, after 3 straight years of witnessing bitcoin NOT becoming the uber global phenom that everyone was going on about in 2013, I believe have earned the right to be a little bearish now and then.  I still have not witnessed ANY new major Average Joe money, nor major investment money, nor major retailer adoption happen in that time either.  The only thing I've seen in that time frame is complete apathy from the general public, and the occasional PnD bullshit that we're all so familiar with by now.

So fkn sue me bitch.  Also, let's see how the year finishes up before you start calling it a full on uptrend, eh? Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now.

Edit:
Well, well, well, looks like ol' Dafar is just as bearish too.

Ok guys, we've been seeing insane predictions since the end of 2013.

$1600/btc... $2000/btc... $3000/btc... even $10K/btc... but 3 years later nothing happens. I believe in bitcoin, but I'm worried about the time frame it might take for adoption to hit a point where we finally pass ATH. That could take a decade or not even happen in our lifetime

[rjclarke2000]

Why so violent Dafar? Are you still butthurt about a bad trade or something?

I'm a permabull hodler that, after 3 straight years of witnessing bitcoin NOT becoming the uber global phenom that everyone was going on about in 2013, I believe have earned the right to be a little bearish now and then.  I still have not witnessed ANY new major Average Joe money, nor major investment money, nor major retailer adoption happen in that time either.  The only thing I've seen is the occasional PnD bullshit that we're all so familiar with by now.

So fkn sue me bitch.  Also, let's see how the year finishes up before you start calling it a full on uptrend, eh? Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now.

Edit:
Well, well, well, looks like ol' Dafar is just as bearish too.

Ok guys, we've been seeing insane predictions since the end of 2013.

$1600/btc... $2000/btc... $3000/btc... even $10K/btc... but 3 years later nothing happens. I believe in bitcoin, but I'm worried about the time frame it might take for adoption to hit a point where we finally pass ATH. That could take a decade or not even happen in our lifetime


I kinda feel the same as torque I must be honest. Still hoping.

[Meuh6879]

Remember kids, bitcoin is the only way out, because...

[pics here]

[Meuh6879]

Ok guys, we've been seeing insane predictions since the end of 2013.

$1600/btc... $2000/btc... $3000/btc... even $10K/btc... but 3 years later nothing happens. I believe in bitcoin, but I'm worried about the time frame it might take for adoption to hit a point where we finally pass ATH. That could take a decade or not even happen in our lifetime


I kinda feel the same as torque I must be honest. Still hoping.

2013: bitcoin ?
2014: bitcoin, ah ah ah
2015: bitcoin ... mmmh ?
2016: bitcoin ... !
2017: bitcoin !!!!
2018: BTCictoin. We plan the future of money.
2019: bitcoin, halvening in 1 year
2020: All car are electric and autonomous, you can pay only with bitcoins because no chargeback here = serious business here.

[JayJuanGee]

Imo we could see another rise to 650+ pretty soon.

Because halvening?

Because of a multiple of reasons, including halvening pressures (that could take months to play out in terms of feeling the impact of reduced increasing supply). 

Girls like you, lambie, don't want to actually grapple with various BTC fundamentals, so you merely try to put the burdens on others, fail refused to provide meaningful facts and analysis and attempt to simplify matters and to distort reality.   

[JayJuanGee]

Why so violent Dafar? Are you still butthurt about a bad trade or something?

I'm a permabull hodler that, after 3 straight years of witnessing bitcoin NOT becoming the uber global phenom that everyone was going on about in 2013, I believe have earned the right to be a little bearish now and then.  I still have not witnessed ANY new major Average Joe money, nor major investment money, nor major retailer adoption happen in that time either.  The only thing I've seen in that time frame is complete apathy from the general public, and the occasional PnD bullshit that we're all so familiar with by now.

So fkn sue me bitch.  Also, let's see how the year finishes up before you start calling it a full on uptrend, eh? Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now.

Edit:
Well, well, well, looks like ol' Dafar is just as bearish too.

Ok guys, we've been seeing insane predictions since the end of 2013.

$1600/btc... $2000/btc... $3000/btc... even $10K/btc... but 3 years later nothing happens. I believe in bitcoin, but I'm worried about the time frame it might take for adoption to hit a point where we finally pass ATH. That could take a decade or not even happen in our lifetime

There is nothing wrong with having various bearish inclinations and reservations, but frequently, you have a tendency to go off the rails a bit with pessimistic exaggerations, which likely would cause people to wonder whether you are talking your books or giving a fair analysis of the situation.

For example in your assessments that adoption is not rapid enough  and that bitcoin is losing market share seems to be quite a way off and really exaggerations, no?

"I still have not witnessed ANY new major Average Joe money, nor major investment money, nor major retailer adoption happen in that time either."


Are you just impatient or what?  Some of this takes time, and the overall evidence remains that adoption, development and investment is up and increasing.  Sure, the amount of the up may not be exorbitant, but it remains sufficient to allow us to avoid conclusions of too much apathy (which you seem to want to conclude)



"Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now."

I doubt that the facts really support this kind of an assertion.  Sure, we have been witnessing some innovations from altcoins (shitcoins as you call them), but in the end, any "losing of  marketshare ground" is likely more illusory than anything.  Let those various  alt coins experiment and innovate etc... , and bitcoin can profit by witnessing such experimentations and determining whether those kinds of innovations (if any) are worth incorporating into bitcoin and how.  The value of bitcoin remains its foundational security of immutable decentralization, and you are not going to retain "secure immutable decentralization" by attempting too many experiments and/or attempts at innovation... because the innovation is already there and the foundation already set.. and the inability and difficulties in changing bitcoin is a feature, not a bug.

[Torque]

For example in your assessments that adoption is not rapid enough  and that bitcoin is losing market share seems to be quite a way off and really exaggerations, no?


"Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now."

I doubt that the facts really support this kind of an assertion.  Sure, we have been witnessing some innovations from altcoins (shitcoins as you call them), but in the end, any "losing of  marketshare ground" is likely more illusory than anything.

JJG, since you seem to like to confront people a lot, and since you are always in need of hard facts, stats, and proof over public sentiment (which is fairly palpable atm), then here you go.  Third chart at the bottom, the 3-year downtrend in bitcoin's overall crypto marketshare is as plain as day:

https://coinmarketcap.com/charts/#btc-percentage

Doesn't change the fact that I'm a permabull.  But my patience is starting to wear thin.  Other so-called bit bulls have already moved on and left bitcoin behind.

[julian071]

For example in your assessments that adoption is not rapid enough  and that bitcoin is losing market share seems to be quite a way off and really exaggerations, no?


"Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now."

I doubt that the facts really support this kind of an assertion.  Sure, we have been witnessing some innovations from altcoins (shitcoins as you call them), but in the end, any "losing of  marketshare ground" is likely more illusory than anything.

JJG, since you seem to like to confront people a lot, and since you are always in need of hard facts, stats, and proof over public sentiment (which is fairly palpable atm), then here you go.  Third chart at the bottom, the 3-year downtrend in bitcoin's overall crypto marketshare is as plain as day:

https://coinmarketcap.com/charts/#btc-percentage

Doesn't change the fact that I'm a permabull.  But my patience is starting to wear thin.  Other so-called bit bulls have already moved on and left bitcoin behind.

+1, I feel exactly the same. I went all-in back to BTC a while ago hoping the debate about the high fees would yield a solution, but I'm back to diversifying right now. Don't see it happening any time soon, and that might be not soon enough.

[gentlemand]

Well, the losing market share thing is mainly the incredible alt pumps most of which are in aid of obtaining more Bitcoin. Certainly ETH looks like an increasingly appalling bet by the day. However there may come a time where it has a different smell to it. Bitcoin needs to deliver both signs of some capacity progress and action to satisfy the speculators.

[Fatman3001]

Quote from: satoshi on October 03, 2010, 09:07:28 PM
We can phase in a change later if we get closer to needing it.

IMO it's a marketing thing.  It's tough to get people to buy into a system, if the network is technically incapable of supporting high transaction rates.

https://bitcointalk.org/index.php?topic=1347.msg15145#msg15145

[Dafar]

Why so violent Dafar? Are you still butthurt about a bad trade or something?

I'm a permabull hodler that, after 3 straight years of witnessing bitcoin NOT becoming the uber global phenom that everyone was going on about in 2013, I believe have earned the right to be a little bearish now and then.  I still have not witnessed ANY new major Average Joe money, nor major investment money, nor major retailer adoption happen in that time either.  The only thing I've seen in that time frame is complete apathy from the general public, and the occasional PnD bullshit that we're all so familiar with by now.

So fkn sue me bitch.  Also, let's see how the year finishes up before you start calling it a full on uptrend, eh? Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now.

Edit:
Well, well, well, looks like ol' Dafar is just as bearish too.

Ok guys, we've been seeing insane predictions since the end of 2013.

$1600/btc... $2000/btc... $3000/btc... even $10K/btc... but 3 years later nothing happens. I believe in bitcoin, but I'm worried about the time frame it might take for adoption to hit a point where we finally pass ATH. That could take a decade or not even happen in our lifetime

I'm not butthurt... you called me out when you thought you were right, and I'm calling you out for being the bigger a fool  

And I am not bearish, I expect much higher prices... I just don't know how long it will take. Months, years, decades?? Probably sooner than that, I'm excited about 2017... I think as long as bitcoin keeps growing, as it is, without another gox/bfx, as adoption and use cases grow, as second-layer scaling technologies evolve, a sudden news of a ETF could be enough to push the price beyond ATH.


 

JJG, since you seem to like to confront people a lot, and since you are always in need of hard facts, stats, and proof over public sentiment (which is fairly palpable atm), then here you go.  Third chart at the bottom, the 3-year downtrend in bitcoin's overall crypto marketshare is as plain as day:

https://coinmarketcap.com/charts/#btc-percentage

Doesn't change the fact that I'm a permabull.  But my patience is starting to wear thin.  Other so-called bit bulls have already moved on and left bitcoin behind.

I had to comment on this.... what the hell does this chart prove? Of course bitcoin is gonna lose "crypto marketshare" as other alts emerge. If you compare any altcoin with the rest of the crypto market share they will all be going down unless the coin just started. This says nothing about bitcoin's growth. BTC transaction volume has grown significantly-- a compounded yearly rate of 224% since 2013 and tripped over last year. The are many metrics that show positive growth in areas that matter and you chose to focus on something useless. Not to mention a lot of the bitcoin that went to the altcoin market are only there so traders can earn more bitcoin. I myself have tons of BTC in alts that is coming right back into bitcoin

Quote from: satoshi on October 03, 2010, 09:07:28 PM
We can phase in a change later if we get closer to needing it.

IMO it's a marketing thing.  It's tough to get people to buy into a system, if the network is technically incapable of supporting high transaction rates.

https://bitcointalk.org/index.php?topic=1347.msg15145#msg15145

Is that the real satoshi? 

[JayJuanGee]

For example in your assessments that adoption is not rapid enough  and that bitcoin is losing market share seems to be quite a way off and really exaggerations, no?


"Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now."

I doubt that the facts really support this kind of an assertion.  Sure, we have been witnessing some innovations from altcoins (shitcoins as you call them), but in the end, any "losing of  marketshare ground" is likely more illusory than anything.

JJG, since you seem to like to confront people a lot,

That seems to be merely your perception of the matter.  I am just engaging in conversations related to bitcoin (hopefully) to the extent that posters want to conversate regarding such matters.

and since you are always in need of hard facts, stats, and proof over public sentiment (which is fairly palpable atm), then here you go.

hahahahahaha... I don't think that I am demanding anything, yet if a poster makes claims then they should attempt to back them up with either facts or logic or both, and yeah, sure, each of us are going to decide on an individual level the extent to which a claim needs to be backed up... and sure, other times, some claims are merely opinions and not able to back up, which can be fair, too, depending on circumstances. 

 Third chart at the bottom, the 3-year downtrend in bitcoin's overall crypto marketshare is as plain as day:

https://coinmarketcap.com/charts/#btc-percentage

Thanks for the chart that points out how you arrived at your opinion, and I believe that helps to frame the understanding a bit better.

Personally, I don't find your evidence to change my opinion on any kind of meaningful level.. Sure, it is good to look at actual sources concerning the share of the market that alt coins have and their share in comparison to bitcoin; however, you will notice that the graphs that you provided begin largely in mid-2013 because prior to 2013, there were hardly any crypto currencies or anything of such a nature, except for bitcoin.

The mere fact that various crypto currencies are being developed and attempting to take away some of bitcoin's market share, does not undermine the importance and/or uniqueness of bitcoin and what bitcoin brings to the crypto space, as compared with the various "competitors."  Even though there is some downward trajectory, I doubt that this actual "downward trajectory" signifies that bitcoin is threatened in any kind of meaningful way by the various other cryptos.

Bitcoin continues to bring to the space a certain level of secure decentralized immutability that is not provided by any other coin.  Yeah, sure, go ahead and proclaim that bitcoin is dying and losing market share, but those kinds of proclamations have no real material meaning when you really consider the actuality of what bitcoin is providing that none of the others are providing, still to date.

Also, it is likely good that quite a few of these various coins are coming to the crypto space because they provide avenues for folks to get involved in cryptos and likely helps to develop the space.  If at any time you see some coin(s) that are worthy of investment, then fine go ahead and invest in such alternative coins... That is not a big deal.  I personally do not see any meaningful reason to divert my investment from BTC.. yet others are free to come to differing conclusions and to invest in accordance with they perceptions.

Doesn't change the fact that I'm a permabull.  But my patience is starting to wear thin.  

O.k.  I will accept your representation that you are a permabull and that you are running out of patience, yet to me, some of that running out of patience seems to be unreasonable, like you want to rush something that is not quite ready for what you would like, like you are suggesting that it should be better in some kind of way.  You are certainly free to diversify your investment to the extent that you believe that there may be some other coins or investments that are more suited to your short, medium or long term views.  I really don't see any reason to get inpatient with the movement of bitcoin's market, whether that be price appreciation, development or adoption.  These things take time, and even though some indicators seem to show that progress is either flat or going in the wrong direction,  it is my sense that you are giving too much weight to the wrong indicators, or maybe possibly, you are overly invested in one direction?

Other so-called bit bulls have already moved on and left bitcoin behind.

Sure, that is a factor to take into account when you are weighing the extent that you should diversify or leave.  I personally think that it is dangerous to leave now, but each individual has to make those kinds of decisions for himself/herself, and to spread out risk to the extent that s/he believes that it is prudent to do so for his/her own individual circumstances.  Merely because some supposed bulls have lost faith is not going to necessarily sway me to follow them, unless I think that their facts and/or reasoning is sufficiently persuasive.

Take the Mike Hearn rage quit for example, I found that quit of a supposed "bull" to be completely disingenuous and lacking in any kind of persuasion for me; however, other bitcoin investors gave such rage quit of Hearn more credibility and thought that he was on to something.  Many of us currently recognize that Hearn was likely wrong at that time and the level of his criticisms, even though the timing of his quit seemed to help to bring BTC prices down from mid $400s to mid $300s, and even a certain amount of price stagnation for a few months that coincided with such quitting... but so what, we cannot know for sure how long the price is going to stay in a certain range, and if we understand the fundamentals sufficiently, we may not follow what some others may suggest, even though they may hold themselves out as supposed  bulls.

[savetherainforest]

Fatman... I can't see the Trump building in that picture...  

[JayJuanGee]

For example in your assessments that adoption is not rapid enough  and that bitcoin is losing market share seems to be quite a way off and really exaggerations, no?


"Bitcoin has steadily been losing some marketshare ground to shitcoins for 3 years now."

I doubt that the facts really support this kind of an assertion.  Sure, we have been witnessing some innovations from altcoins (shitcoins as you call them), but in the end, any "losing of  marketshare ground" is likely more illusory than anything.

JJG, since you seem to like to confront people a lot, and since you are always in need of hard facts, stats, and proof over public sentiment (which is fairly palpable atm), then here you go.  Third chart at the bottom, the 3-year downtrend in bitcoin's overall crypto marketshare is as plain as day:

https://coinmarketcap.com/charts/#btc-percentage

Doesn't change the fact that I'm a permabull.  But my patience is starting to wear thin.  Other so-called bit bulls have already moved on and left bitcoin behind.

+1, I feel exactly the same. I went all-in back to BTC a while ago hoping the debate about the high fees would yield a solution, but I'm back to diversifying right now. Don't see it happening any time soon, and that might be not soon enough.

Well, yeah, Julian071, if you feel that you should diversify, then you should attempt to accomplish such diversification to the level of your comfort, and also to decide how to apportion such diversification in order to feel personally comfortable.

These are not easy decisions because there continues to be a lot going on in the crypto space, so frequently each of us just has to make our best approximation of a solid strategy based on how we view the scene and our personal financial circumstances.

I personally do not see a need, at this time to diversify, but I do continue to attempt to protect myself from some of bitcoin's ongoing likely volatility by selling coins on the way up and buying coins on the way down.  That strategy is a bit different from diversifying into other crypto, but it does still attempt to apportion (and hopefully lessen) some of Bitcoin's likely ongoing volatility risk.

[mymenace]

great wall to buy up


i love charts, next leg up