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

[yefi]

On the ground adoption around the globe with lots of little people thirsty for real money slurping up BTC like a desert flood has drained away all the excess bitcoins. BTC price moves after the adoption reaches a level to drag it to a new price regime, such is skepticism and bearishness surrounding crypto0currencies ... noone believes us, yet still it works.

Yesterday they were throwing them at our feet, tomorrow they will be begging at our feet for them back.

[XCASH]

This next rally could blow lots of little people's minds.

...

There's cup 'n handles on many time scales so the boom could be impressive ... and an impressive bitcoin move means 10x-15x. ...

There appear to be three cups within each other. The summer rally marked the first handle, and the second handle might be at $1200 if the pattern repeats, After a retrace the third handle could be the kind of exponential growth we saw in 2013.

There's probably some trading term for cups within each other, but I only know the basics.

[marcus_of_augustus]

[Ted E. Bare]

Cups everywhere.

[AZwarel]

PM me when it reaches 696.0 BTC.

I think we will test 700 next month this week.

I think we will test 700 next month this week in the next 24 hours. Which are critical.

I won't PM you. But, it is past 696$

Also, this is finally a "told you so" moment  

[criptix]

1_million_dollars.meme

[Paashaas]

Huobi $695, here we go, $700+ before the weekend starts 

[AZwarel]

This next rally could blow lots of little people's minds.

The banks have been "blockchaining" for 2years and what have they got to show for it? A bale of cotton was shipped using "blockchain trade finance" ... wtf? was that cotton going to be used to print more fiat or what? I'm not getting that blockchain profit vibe, sounds like pure BS.

There's cup 'n handles on many time scales so the boom could be impressive ... and an impressive bitcoin move means 10x-15x. On the ground adoption around the globe with lots of little people thirsty for real money slurping up BTC like a desert flood has drained away all the excess bitcoins. BTC price moves after the adoption reaches a level to drag it to a new price regime, such is skepticism and bearishness surrounding crypto0currencies ... noone believes us, yet still it works.

Exponential growth is a numbers game that not many people can be trained to get their brains around.

Also, most people in bitcoin ask about/wait for "mass adoption by the "avergae Joes"". Which is hilarious, it is so not going to work out like that; all new tech got adopted by: first, a small intellectual elite who understands the paradigm shift; second: capital injection from a marginal but very wealthy part of society whom are ready for high risk/high profit scenarios, and has good advisors/insight; third: than last "Average Joe" has no other way (! it is not his choice, it is mandatory for him!!) than adopt as well, because remaining with the old tech is below marginal utility/1.

Same happens and will happen with bitcoin, we are kinda of the "intellectual elite", banks, ETFs, hedge funds etc. are the capital injection, and "average Joe" will be too late to make early adopter profit - we are speaking of 100x-10000x wealth increase on wealth redistribution here from fiat to crypto - as usual (but still going to enjoy "risk free, already established advanced technology).

edit: just as the "average Joes aka mass" among my colleges, friends; was telling them to buy bitcoin "just in case" for two years by now (last summer it was around 230$!!), yet they never did. They totally gonna miss out the wealth distribution effect (not 700$, but 7000$+ as well), like 98% of the world population.

[AZwarel]

Huobi 700$

[XCASH]

This next rally could blow lots of little people's minds.

The banks have been "blockchaining" for 2years and what have they got to show for it? A bale of cotton was shipped using "blockchain trade finance" ... wtf? was that cotton going to be used to print more fiat or what? I'm not getting that blockchain profit vibe, sounds like pure BS.

There's cup 'n handles on many time scales so the boom could be impressive ... and an impressive bitcoin move means 10x-15x. On the ground adoption around the globe with lots of little people thirsty for real money slurping up BTC like a desert flood has drained away all the excess bitcoins. BTC price moves after the adoption reaches a level to drag it to a new price regime, such is skepticism and bearishness surrounding crypto0currencies ... noone believes us, yet still it works.

Exponential growth is a numbers game that not many people can be trained to get their brains around.

Also, most people in bitcoin ask about/wait for "mass adoption by the "avergae Joes"". Which is hilarious, it is so not going to work out like that; all new tech got adopted by: first, a small intellectual elite who understands the paradigm shift; second: capital injection from a marginal but very wealthy part of society whom are ready for high risk/high profit scenarios, and has good advisors/insight; third: than last "Average Joe" has no other way (! it is not his choice, it is mandatory for him!!) than adopt as well, because remaining with the old tech is below marginal utility/1.

Same happens and will happen with bitcoin, we are kinda of the "intellectual elite", banks, ETFs, hedge funds etc. are the capital injection, and "average Joe" will be too late to make early adopter profit - we are speaking of 100x-10000x wealth increase on wealth rebalancing here - as usual (but still going to enjoy "risk free, already established advanced technology).

Bitcoiners suffered from the Bitfinex hack, but if there is another banks going bankrupt crisis the bank's customers will suffer an order of magnitude worse. Today Bloomberg said Deutsche bank is now probing whether it "misstated" derivatives. Afterwards Zerohedge noticed that the the FT reported the Bank of England is asking large British banks what their exposure is to Deutsche Bank.

If banks start nicking customer's money like Bitfinex it could pump Bitcoin 10x to 100x. It could make Bitcoin mainstream with even the "average Joe" buying into it.

http://www.bloomberg.com/news/articles/2016-10-26/deutsche-bank-said-to-review-its-valuations-of-inflation-swaps

http://www.zerohedge.com/news/2016-10-26/bank-england-asks-uk-banks-detail-their-exposure-deutsche-and-italian-banks

In what may or may not be a coincidence, just hours after Bloomberg reported that DB launched a probe into whether it "misstated" derivatives, moments ago the FT reported that the Bank of England is seeking details from large British banks on their current exposure to Deutsche Bank and some of the biggest Italian banks, including Monte dei Paschi, "amid mounting market jitters over the health of Europe’s financial sector."

[AZwarel]

Bitcoiners suffered from the Bitfinex hack, but if there is another banks going bankrupt crisis the bank's customers will suffer an order of magnitude worse. Today Bloomberg said Deutsche bank is now probing whether it "misstated" derivatives. Afterwards Zerohedge noticed that the the FT reported the Bank of England is asking large British banks what their exposure is to Deutsche Bank.

If banks start nicking customer's money like Bitfinex it could pump Bitcoin 10x to 100x. It could make Bitcoin mainstream with even the "average Joe" buying into it.

Yes, SOME bitcoiners suffered - 90% did not. Cause "my key, my bitcoins" etc.
But you are right about Deutsche Bank. It does not matter, if you are a DB customer, or any other major bank's, since they are all connected through "toxic derivatives" so all customer funds are in jeopardy - enters bitcoin.

I disagree about "Joes" buying bitcoin suddenly - i wish that would be true, but, reality :-(. It is so not ready for non-tech/little tech users to join in in masses -yet!, i know; i get so many fukin stupid question from "non-tech" personell, which an average 12 year old gamer geek kid could answer.

[cryptasm]

Iceland push?

[Fatman3001]

Looks like there's 1.8 million BTC in dust in the mempool.

Totally not one guy:

Yes, Podyx has been doing well lately

[Karartma1]

Who said this thread is dead? This thread is like Bitcoin: the more one says is dead the more it gets stronger.

Last night I watched the charts for 15 minutes and I said WOW. This thing is moving again and we all know that when it moves it does that very fast and in a very hectic way.

US elections are coming, the end of 2016 is approaching: as some of you already mentioned, hold on!

[Ted E. Bare]

Anyone know why adamstgBit left?

[JayJuanGee]

Anyone know why adamstgBit left?

He got locked out of his account (by a hacker) around the same time as me in mid September, and unlike me, he said that he did not want to jump through hoops to get his account back.

[Ted E. Bare]

Anyone know why adamstgBit left?

He got locked out of his account (by a hacker) around the same time as me in mid September, and unlike me, he said that he did not want to jump through hoops to get his account back.

Ah I see, that's unfortunate. It would've been nice for him to join us in our celebrations of bitcoins' new all-time high in the new year.

[freshman777]

Has anybody thought that price is rising because deposits to exchanges can't come through the 45k+ pending txs mempool?

Yes I was just thinking the same thing.  

I have $394 worth of bitcoin stuck in the blockchain sent to me since last night and has been over 16 hours without a confirmation yet.
It must be part of that or else I don't know what else it could be.

Don't panic, Bitcoin works as designed. I've just paid a $1 fee and my tx was instantly confirmed.

[criptix]

Has anybody thought that price is rising because deposits to exchanges can't come through the 45k+ pending txs mempool?

Yes I was just thinking the same thing.  

I have $394 worth of bitcoin stuck in the blockchain sent to me since last night and has been over 16 hours without a confirmation yet.
It must be part of that or else I don't know what else it could be.

Don't panic, Bitcoin works as designed. I've just paid a $1 fee and my tx was instantly confirmed.

txid or it never happened

[JayJuanGee]

Has anybody thought that price is rising because deposits to exchanges can't come through the 45k+ pending txs mempool?

Yes I was just thinking the same thing.  

I have $394 worth of bitcoin stuck in the blockchain sent to me since last night and has been over 16 hours without a confirmation yet.
It must be part of that or else I don't know what else it could be.

Don't panic, Bitcoin works as designed. I've just paid a $1 fee and my tx was instantly confirmed.

txid or it never happened

Yesterday (about 35 hours ago, as I type), I paid a $.56 fee, and it took 30.5 hours to receive the first confirmation - even though the transaction showed up as received (and pending) almost immediately. I was not able to use it until about 31 hours (after three confirmations)