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

[AlexGR]

Huobi 666.53

[ImI]

stamp very reluctant to move even one bit

[JayJuanGee]

(Sorry Mike. Loved your videos. The theory's perfect, you just identified the wrong asset.

Sorry guys but you don't get it. Bitcoin will not be used the way you imagine. Bitcoin will not be used directly as money between merchants and consumers. Different tokens based on bitcoin and backed by bitcoin will be used in competing payment systems where moving bitcoin on the blockchain will be the settlement layer. Gold will always be the ultimate money. The only but very important advantage of bitcoin compared to gold is that bitcoin is cheaper to audit and provide proof of reserves.

Whoaza Becoin.   Did someone, such as Aztec Miner, take over your account to proclaim the supposed superior value of PMs?

We don't know all the ways that cryptos are going to evolve in the future in order to assess which asset class is going to be preferred; however, it seems a bit much to be suggesting that gold is the best and is going to continue to be the best because it has always been the best....

The fact of the matter is that bitcoin is likely a game changer, but we don't know how long it is going to take to play out - and in that regard, it could take a long time before we know how bitcoin is going to play out or if could possibly get stuffed into obscurity (which seems a bit doubtful, at this point).

[Paashaas]

a few more of these nice little green dildo's...then KABOOM!

[Karartma1]

Weekend pump incomming!

Oh, by the way, you were right! I forgot where I read about a pump, it was you. Now reading you last post I remembered.
It's so nice to wake up in the morning and seeing all those green candles.
I want to see past $700 and then I'm a happy guy (quoting my dear George Carlin)

[Elwar]

(Sorry Mike. Loved your videos. The theory's perfect, you just identified the wrong asset.

Sorry guys but you don't get it. Bitcoin will not be used the way you imagine. Bitcoin will not be used directly as money between merchants and consumers. Different tokens based on bitcoin and backed by bitcoin will be used in competing payment systems where moving bitcoin on the blockchain will be the settlement layer. Gold will always be the ultimate money. The only but very important advantage of bitcoin compared to gold is that bitcoin is cheaper to audit and provide proof of reserves.

I think the most likely scenario, at least in the short term, is that most companies will move more toward their own payment system (gift cards) for payment at their stores. More people will use it and more tools will become available so you can pay at any store with any payment system you like. Taking the onus off of the retailer for payment processing and moving it to a new third party layer.

[mymenace]

(Sorry Mike. Loved your videos. The theory's perfect, you just identified the wrong asset.

Sorry guys but you don't get it. Bitcoin will not be used the way you imagine. Bitcoin will not be used directly as money between merchants and consumers. Different tokens based on bitcoin and backed by bitcoin will be used in competing payment systems where moving bitcoin on the blockchain will be the settlement layer. Gold will always be the ultimate money. The only but very important advantage of bitcoin compared to gold is that bitcoin is cheaper to audit and provide proof of reserves.

I think the most likely scenario, at least in the short term, is that most companies will move more toward their own payment system (gift cards) for payment at their stores. More people will use it and more tools will become available so you can pay at any store with any payment system you like. Taking the onus off of the retailer for payment processing and moving it to a new third party layer.

exactly right i agree

this is great as bitcoin is sidechanied and value increase's in those sidechains so does bitcoin....wooohoo

this would make bitcoin like the digital gold of side chains used as a currency reserve..decentralized

luvin it

[Etalia]

Can someone explain why dump 4500K BTC on the market with such slippage. Are there not trading programs that will slice the order up into smaller, random appearing pieces and consume tasty bids from time to time until the whole order is filled? One could do that manually too.

[becoin]

Can someone explain why dump 4500K BTC on the market with such slippage.

Where did you see this dump?

[rich93]

Can someone explain why dump 4500K BTC on the market with such slippage.

Where did you see this dump?

He's probably talking about one of the Chinese exchanges like OKcoin that has no trading fees. There is always huge apparent volume on them, but it's most likely fake. There have been tens of thousands of coins apparently dumped there in the previous few hours, but there have also been tens of thousands apparently bought there in the last few hours. During those few hours none of the equivalent volume bars of Bitfinex were even 100 coins high, they were in tens of Bitcoins high.

[ImI]

ok, last 200 "wall" on stamp at 652$ got bought. lets see how long it takes him to reload and bring up the next 200.

[ImI]

ok, last 200 "wall" on stamp at 652$ got bought. lets see how long it takes him to reload and bring up the next 200.

welcome back mr 200. 

[JimboToronto]

Good AM Bitcoinland.

Still in the $650s at Bitcoinaverage... $658 to be precise.

Looks like we're back in sideways mode again.

Can someone explain why dump 4500K BTC on the market with such slippage.

Where did you see this dump?

4.5 million bitcoins? That's over a quarter of all the coins mined to date.

Assuming that was a typo and (s)he meant 4500 btc, I still don't see it. Even that amount in a single market sell on a zero-fee Chinese exchange would have caused considerable slippage, which I don't see.

I'm curious too.

[rjclarke2000]

Good AM Bitcoinland.

Still in the $650s at Bitcoinaverage... $658 to be precise.

Looks like we're back in sideways mode again.

Can someone explain why dump 4500K BTC on the market with such slippage.

Where did you see this dump?

4.5 million bitcoins? That's over a quarter of all the coins mined to date.

Assuming that was a typo and (s)he meant 4500 btc, I still don't see it. Even that amount in a single market sell on a zero-fee Chinese exchange would have caused considerable slippage, which I don't see.

I'm curious too.

It says 4500 Jimbo!  K thousand?

[JimboToronto]

It says 4500 Jimbo!  K thousand?

Etalia's post said 4500k btc. That's 4.5M btc. That's why I assumed it was a typo.

[JayJuanGee]

Weekend pump incomming!

Oh, by the way, you were right! I forgot where I read about a pump, it was you. Now reading you last post I remembered.
It's so nice to wake up in the morning and seeing all those green candles.
I want to see past $700 and then I'm a happy guy (quoting my dear George Carlin)

What happens at $700?  Is it sustainable, or does it go there and come back down to the $630 to $650 range?  Does it go to $700 quickly and come back down, or do we shoot passed $700 into the mid-$700s? 

Surely, it seems that we have various resistance points between here (where we are right now) and up to the upper $700s, and surely it is possible that we could be languishing between lower $600s and upper $700s for months.. maybe 6 months, or maybe longer? 

On the other hand, with enough pumping (and we certainly know that there a variety of folks who would be capable of such pumping) the various BTC price resistance points could melt away like butter and get us into a various interesting upwards cycle and the ramifications that would follow from that would surely be interesting to witness....   

Actually, currently, either bear trolls are being deleted or maybe we are just not witnessing as many bear trolls because they are kind of losing their credibility?  Surely, we see some of the bitcoin is broken big blocker bullshit, but even that nonsense seems to have less and less resonance in recent times, except if you go on r/btc or some of the other nut-job big blocker forums... but even some of those folks seem to be less and less convinced of their own bullshit, no?      

[JayJuanGee]

Good AM Bitcoinland.

Still in the $650s at Bitcoinaverage... $658 to be precise.

Looks like we're back in sideways mode again.

 

I'm not sure Jim, regarding your assessment of "back to sideways." 

Surely, we have some low volume trading in recent weeks, but we gotta look at this price movement in context... The reality of the matter is that a couple of weeks ago we were floating sideways in the lower $600s, and we got a decent upwards pump (on low volume) that little by little (over the span of the past couple of weeks) brought us into the lower $650s-ish.   At the moment, I am considering this upwards price movement to have been about a 7%, as I type.

 This recent move has all occurred on relatively low trade volume and without any meaningful correction...

Accordingly, I am not sure if we can really go sideways in a stable way from this point, and in that regard, I am not really sure about whether we are going up or down, but the price pressures, at the moment, seem to be upwards, even continuing to consider the past 48 hours.

I'm not saying that you are wrong about sideways, that is for sure, because anything is possible, but at this point, sideways seems a bit less likely than other possible scenarios.. especially given the actual context of where we are at, no?  Maybe we could put sideways at less than a 20% chance?  Surely, I am speculating.. but we got some dynamics going on and some attention going on, and there is potentially some building up pressures and considerations by various movers and shakers about potentially employing a strategy, either to attempt to pump or dump this  (timing of this? anyone?)

[Torque]

Gold will always be the ultimate money. The only but very important advantage of bitcoin compared to gold is that bitcoin is cheaper to audit and provide proof of reserves.

Ummm... bitcoin is not just cheaper to audit and POR, but for Gold it is neigh *impossible* to audit/show proof.  Countries can't just call each other's bluff on true Gold reserves (if there even are any) and go take a peek, so everyone is just playing the fractional reserve game of "I'm telling you what we have, so you just have to believe me". Usually at the point of a gun.

It's all bullshit, of course. All the supposed Gold reserves backing all the ETFs are long gone. Probably to the private vaults of the Rothschilds, our evil overlords.

A true worldwide run on Gold (i.e., physical possession) would come up empty for many large and small investors.

[JayJuanGee]

Gold will always be the ultimate money. The only but very important advantage of bitcoin compared to gold is that bitcoin is cheaper to audit and provide proof of reserves.

Ummm... bitcoin is not just cheaper to audit and POR, but for Gold it is neigh *impossible* to audit/show proof.  Countries can't just call each other's bluff on true Gold reserves (if there even are any) and go take a peek, so everyone is just playing the fractional reserve game of "I'm telling you what we have, so you just have to believe me". Usually at the point of a gun.

It's all bullshit, of course. All the supposed Gold reserves backing all the ETFs are long gone. Probably to the private vaults of the Rothschilds, our evil overlords.

A true worldwide run on Gold (i.e., physical possession) would come up empty for many large and small investors.

Can you imagine the enormity of any kind of proof of reserves (POR) in gold, talking physical product - of tons of the stuff? 

And, how do you determine exactly that some of the reserves are not inflated with Tungsten or some similar other kinds of smoke and mirrors? 

Yeah, we got paper gold problems, which involves considerable fractional reserves, too...

And, sure bitcoin has a bit of that fractional reserve stuff going on, but in the end, if push comes to shove POR remains quite a bit easier to get a grasp upon, especially if someone (or entity) were truly wanting to establish some semblance of POR.. or proof of holdings.

[toknormal]

Hobular market moves afoot again.

It's reaching for that Oct 23rd 4575 shot. 2-Hour momentum moveing average crossing over. If that pushes the 4-hour chart into the green then it may have a chance.

The expectations are there at least. Alts are dumping.

*****

We're up to 4550 now. 25 to go. Volume coming up....4560...