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

[Chef Ramsay]

Look at the market maker BTC-e, you go girl!

[Temp_JayJuanGee]

Do you think we will break 750 in the next week?

It will go 10$ per week on average from now on... If it goes 5x / 10x more than that in a short period of time... make sure to gamble! ... Correction in 1-2 week from 765$ to 745$ ...

Seriously?  You sound very certain, please do tell on what basis you are so sure?

You cannot be serious to considering that Savetherainforest could actually have any meaningful clue regarding his prediction for supposedly moderate and consistent rise in BTC, incrementalism or whatever you want to call it.  For about 6 months, he has been saying that we are going to the moon, all the way through the May/June correction, and  then continuing to say that he is all in while the lows got lower and even during the August Bitfinex correction.  I think that he moderated his prediction comments a little bit after the Bitfinex correction, so in the end,  Savetherainforest is largely in a fantasy world but sure he could be correct, even from his fantasy perspective.   

[Temp_JayJuanGee]

I set a buy order @ €602. Now we wait....

From what I can tell, that is a bit more than a 10% correction - could happen, but you may be a bit safer with some kind of incrementalism rather than expecting more than a 10% correction from our current price point.

Consider spreading the quantity of your total bet into 25%-ish increments (in 4 parts) moderately at around 3%, 6%, 9% and 12%

[julian071]

I set a buy order @ €602. Now we wait....

From what I can tell, that is a bit more than a 10% correction - could happen, but you may be a bit safer with some kind of incrementalism rather than expecting more than a 10% correction from our current price point.

Consider spreading the quantity of your total bet into 25%-ish increments (in 4 parts) moderately at around 3%, 6%, 9% and 12%

Will do, thx.

[uki]

Do you think we will break 750 in the next week?

Last chance to sell about 730$...its going down...

I pretty much think the same. Double top on the charts. That is pretty bearish. Correction would something to expect. Now the question is where it stops. Halving pump corrected all the way to $5xx handle, which would mean about 20-25% if we go down to the same levels. Why not?

[starmman]

I set a buy order @ €602. Now we wait....

From what I can tell, that is a bit more than a 10% correction - could happen, but you may be a bit safer with some kind of incrementalism rather than expecting more than a 10% correction from our current price point.

Consider spreading the quantity of your total bet into 25%-ish increments (in 4 parts) moderately at around 3%, 6%, 9% and 12%

Will do, thx.

I'm hoping that there is a bit of a price correction - the Donald Trump thing caught me off guard and I had my bets hedged the other way so would be good to get a good position on some markets again whilst making some alt sales.

[julian071]

I set a buy order @ €602. Now we wait....

From what I can tell, that is a bit more than a 10% correction - could happen, but you may be a bit safer with some kind of incrementalism rather than expecting more than a 10% correction from our current price point.

Consider spreading the quantity of your total bet into 25%-ish increments (in 4 parts) moderately at around 3%, 6%, 9% and 12%

Will do, thx.

I'm hoping that there is a bit of a price correction - the Donald Trump thing caught me off guard and I had my bets hedged the other way so would be good to get a good position on some markets again whilst making some alt sales.

I'm in the very same situation....

[marcus_of_augustus]

Watch out for some serious turbulence and cross-currents with the segwit mining signaling phase if the chinese miners are going to try and over-play their hand, as it appears to be shaping up at this stage.

It could be a prime opportunity for a re-decentralisation of mining away from the big 2-3 chinese mining 'pools'. Since the big chinese pools are centralised and their blocks are easily identified they are vulnerable to an orphaning attack as soon as segwit gets over 51% https://blockchain.info/pools ... and which smaller miner wouldn't want to grab some market share of the juicy rewards from these behemoths and take them down a peg or two? If the big 2 or 3 miners (who now have less than 51%) get orphaned off the network the new mining reward split will be much, much more decentralised (and secure) and shift away from its current a chinese-centric vulnerablity. Getting from here to there could be quite turbulent price-wise but ultimately leave behind a much safer, secure (valuable) network.

[Temp_JayJuanGee]

Watch out for some serious turbulence and cross-currents with the segwit mining signaling phase if the chinese miners are going to try and over-play their hand, as it appears to be shaping up at this stage.

It could be a prime opportunity for a re-decentralisation of mining away from the big 2-3 chinese mining 'pools'. Since the big chinese pools are centralised and their blocks are easily identified they are vulnerable to an orphaning attack as soon as segwit gets over 51% https://blockchain.info/pools ... and which smaller miner wouldn't want to grab some market share of the juicy rewards from these behemoths and take them down a peg or two? If the big 2 or 3 miners (who now have less than 51%) get orphaned off the network the new mining reward split will be much, much more decentralised (and secure) and shift away from its current a chinese-centric vulnerablity. Getting from here to there could be quite turbulent price-wise but ultimately leave behind a much safer, secure (valuable) network.

 


So how many coins (or what percentage of my BTC holdings) should I sell in order to protect myself from this possibility?

[marcus_of_augustus]

Watch out for some serious turbulence and cross-currents with the segwit mining signaling phase if the chinese miners are going to try and over-play their hand, as it appears to be shaping up at this stage.

It could be a prime opportunity for a re-decentralisation of mining away from the big 2-3 chinese mining 'pools'. Since the big chinese pools are centralised and their blocks are easily identified they are vulnerable to an orphaning attack as soon as segwit gets over 51% https://blockchain.info/pools ... and which smaller miner wouldn't want to grab some market share of the juicy rewards from these behemoths and take them down a peg or two? If the big 2 or 3 miners (who now have less than 51%) get orphaned off the network the new mining reward split will be much, much more decentralised (and secure) and shift away from its current a chinese-centric vulnerablity. Getting from here to there could be quite turbulent price-wise but ultimately leave behind a much safer, secure (valuable) network.

 


So how many coins (or what percentage of my BTC holdings) should I sell in order to protect myself from this possibility?

None. There is no way we don't come out the other side of this without segwit and a stronger network ... maybe even we get less 'centralised' chinese domination of mining (up to now they have never exercised or exhibited any coordinated 'centralised' behaviour)

However, it will likely be a good opportunity to add in any downdrafts created by the FUD brigade.

[Temp_JayJuanGee]

Watch out for some serious turbulence and cross-currents with the segwit mining signaling phase if the chinese miners are going to try and over-play their hand, as it appears to be shaping up at this stage.

It could be a prime opportunity for a re-decentralisation of mining away from the big 2-3 chinese mining 'pools'. Since the big chinese pools are centralised and their blocks are easily identified they are vulnerable to an orphaning attack as soon as segwit gets over 51% https://blockchain.info/pools ... and which smaller miner wouldn't want to grab some market share of the juicy rewards from these behemoths and take them down a peg or two? If the big 2 or 3 miners (who now have less than 51%) get orphaned off the network the new mining reward split will be much, much more decentralised (and secure) and shift away from its current a chinese-centric vulnerablity. Getting from here to there could be quite turbulent price-wise but ultimately leave behind a much safer, secure (valuable) network.

 


So how many coins (or what percentage of my BTC holdings) should I sell in order to protect myself from this possibility?

None. There is no way we don't come out the other side of this without segwit and a stronger network ... maybe even we get less 'centralised' chinese domination of mining (up to now they have never exercised or exhibited any coordinated 'centralised' behaviour)

However, it will likely be a good opportunity to add in any downdrafts created by the FUD brigade.

O.k.  Fair enough, but it seems like it could take a few months to sort this kind of thing out.. especially if there are seeming to be some attempts at coordinating and even some confusion from miners about whether or not to support seg wit.

I am with you concerning your conclusion that ultimately seg wit is going to be implemented... but yeah, it could take a bit of time to get there.

[bitebits]

^ Is that guy still using CD's for his music instead of more efficient and compact mp3's?

[Fatman3001]

Watch out for some serious turbulence and cross-currents with the segwit mining signaling phase if the chinese miners are going to try and over-play their hand, as it appears to be shaping up at this stage.

It could be a prime opportunity for a re-decentralisation of mining away from the big 2-3 chinese mining 'pools'. Since the big chinese pools are centralised and their blocks are easily identified they are vulnerable to an orphaning attack as soon as segwit gets over 51% https://blockchain.info/pools ... and which smaller miner wouldn't want to grab some market share of the juicy rewards from these behemoths and take them down a peg or two? If the big 2 or 3 miners (who now have less than 51%) get orphaned off the network the new mining reward split will be much, much more decentralised (and secure) and shift away from its current a chinese-centric vulnerablity. Getting from here to there could be quite turbulent price-wise but ultimately leave behind a much safer, secure (valuable) network.

 


So how many coins (or what percentage of my BTC holdings) should I sell in order to protect myself from this possibility?

None. There is no way we don't come out the other side of this without segwit and a stronger network ... maybe even we get less 'centralised' chinese domination of mining (up to now they have never exercised or exhibited any coordinated 'centralised' behaviour)

However, it will likely be a good opportunity to add in any downdrafts created by the FUD brigade.

Don't be so negative, Marky Mark. It might still work out.

[uki]

Watch out for some serious turbulence and cross-currents with the segwit mining signaling phase if the chinese miners are going to try and over-play their hand, as it appears to be shaping up at this stage.

It could be a prime opportunity for a re-decentralisation of mining away from the big 2-3 chinese mining 'pools'. Since the big chinese pools are centralised and their blocks are easily identified they are vulnerable to an orphaning attack as soon as segwit gets over 51% https://blockchain.info/pools ... and which smaller miner wouldn't want to grab some market share of the juicy rewards from these behemoths and take them down a peg or two? If the big 2 or 3 miners (who now have less than 51%) get orphaned off the network the new mining reward split will be much, much more decentralised (and secure) and shift away from its current a chinese-centric vulnerablity. Getting from here to there could be quite turbulent price-wise but ultimately leave behind a much safer, secure (valuable) network.

 


So how many coins (or what percentage of my BTC holdings) should I sell in order to protect myself from this possibility?

None. There is no way we don't come out the other side of this without segwit and a stronger network ... maybe even we get less 'centralised' chinese domination of mining (up to now they have never exercised or exhibited any coordinated 'centralised' behaviour)

However, it will likely be a good opportunity to add in any downdrafts created by the FUD brigade.

I doubt the Chinese whales will give up their market share without a proper fight.
That is too lucrative for them to give it up easily. Therefore, I expect the story to play a bit longer than initially planned.

[julian071]

OK, so one more bulltrap and then down for a while?

[GreekGeek]

all I see right now
is a 6-months long cup and handle formation
 

[molecular]

^ Is that guy still using CD's for his music instead of more efficient and compact mp3's?

high-res flac

mp3 is a fraud on your ears

[JimboToronto]

Good morning Bitcoinland. Slept in a little.

Too busy to check in yesterday but I see we dipped a dime.... currently $739USD/$999CAD.

That's the first time we slid back to the dreaded triple digits (CAD) since last Sunday's short-lived "crash" all the way down to $975.

Was that the last bear trap before bursting on upward?
_____ 

While I was pouring my coffee, it just went back up over a grand. Feels better already. 

[Feri22]

all I see right now
is a 6-months long cup and handle formation
 

Which meeaans...?

[Gyrsur]

all I see right now
is a 6-months long cup and handle formation
 

Which meeaans...?

MOON