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

[JimboToronto]

Jealous that you Canadians are already trading over 1000. Good times.

Don't be too jealous. It's largely due to the Canadian dollar tanking.

It does however underscore the value of Bitcoin as a safe haven. When I bought my first coins, the US and Canadian dollars were at par.

Since then I not only profited (on paper) from what my bitcoins increased in value, but also from not keeping my money in loonies.

That said, being in 4 digits has a nice feel to it, and a nice sound to it when people ask about the price. It shuts up the cynics who were crowing "I told you so", calling Bitcoin a scam and predicting its failure during the fall from the ATH.

Good times indeed.

[1715182529]

1715182529

[1715182529]

1715182529

[1715182529]

1715182529

[LFC_Bitcoin]

Jealous that you Canadians are already trading over 1000. Good times.

It won't be too long until we're over $1000, definifely in 2017 any way, I think that is without question. We don't want unsustainable pumps though, nice & steady is the way.

[GreekGeek]

777

[Torque]

It shuts up the cynics who were crowing "I told you so", calling Bitcoin a scam and predicting its failure during the fall from the ATH.

Too soon?

[ImI]

boys, do it the right way 

[Chainsaw]

boys, do it the right way 

Thanks ImI - had to be done ;-)

[Sundark]

Nothing to get exited about. 777 is more of a winning number for Slots that something really important for Bitcoin.

[r0ach]

The ticker seems to be malfunctioning and stopped going up.

[0xfff]

Welcome to meme central. Please enjoy your stay. There will be free refreshments provided when we hit the big 4 digits. Thank you.

[Fakhoury]

Welcome to meme central. Please enjoy your stay. There will be free refreshments provided when we hit the big 4 digits. Thank you.

I LOLed hard man 

[Paashaas]

This week we'll seeing $800.

[doc12]

Get ready for ignition 

[Fakhoury]

T-48 HOURS FOR A 100% FED INTEREST RATE HIKE, FUEL THE F***ING ROCKET !!!

[yefi]

Let's not see 777 become the new 666

The 666 from 2014 or the 666 from 2016?

I was thinking of 2016, but I guess the devil has many aspects.

[davidorentol]

boys, do it the right way 

[r0ach]

T-48 HOURS FOR A 100% FED INTEREST RATE HIKE, FUEL THE F***ING ROCKET !!![/size]

Raising rates doesn't help Bitcoin.  It doesn't necessarily hurt it either since gold has gone up at the same time rates have many times before.  Loose monetary policy with things like borrowing at zero or negative rates creates malinvestment, which then creates bubbles in speculative assets.  The act of tightening monetary policy theoretically should drain money out of speculative assets.  Depending on who you ask, Bitcoin is either money or a speculative asset, but most people can't even define what the hell it is, which is why it's usually not affected by normal market variables.

The only way raising rates is really beneficial for Bitcoin (since higher rates makes fiat more competitive) is if you bring it to like 3% to create a derivatives meltdown, or crank them all the way up to make the debt unserviceable and force Trump to default or hyperinflate out of it.

[Meuh6879]

T-48 HOURS FOR A 100% FED INTEREST RATE HIKE, FUEL THE F***ING ROCKET !!!

Whouuuuhouuu !!! (homer style).

[Fakhoury]

T-48 HOURS FOR A 100% FED INTEREST RATE HIKE, FUEL THE F***ING ROCKET !!![/size]

Raising rates doesn't help Bitcoin.  It doesn't necessarily hurt it either since gold has gone up at the same time rates have many times before.  Loose monetary policy with things like borrowing at zero or negative rates creates malinvestment, which then creates bubbles in speculative assets.  The act of tightening monetary policy theoretically should drain money out of speculative assets.  Depending on who you ask, Bitcoin is either money or a speculative asset, but most people can't even define what the hell it is, which is why it's usually not affected by normal market variables.

The only way raising rates is really beneficial for Bitcoin (since higher rates makes fiat more competitive) is if you bring it to like 3% to create a derivatives meltdown, or crank them all the way up to make the debt unserviceable and force Trump to default on it.

I agree with what you said R0ach, but don't forget that any raise in the USD will immediately equal to a weakening CNY.

[Gyrsur]

boys, do it the right way 

[r0ach]

T-48 HOURS FOR A 100% FED INTEREST RATE HIKE, FUEL THE F***ING ROCKET !!![/size]

Raising rates doesn't help Bitcoin.  It doesn't necessarily hurt it either since gold has gone up at the same time rates have many times before.  Loose monetary policy with things like borrowing at zero or negative rates creates malinvestment, which then creates bubbles in speculative assets.  The act of tightening monetary policy theoretically should drain money out of speculative assets.  Depending on who you ask, Bitcoin is either money or a speculative asset, but most people can't even define what the hell it is, which is why it's usually not affected by normal market variables.

The only way raising rates is really beneficial for Bitcoin (since higher rates makes fiat more competitive) is if you bring it to like 3% to create a derivatives meltdown, or crank them all the way up to make the debt unserviceable and force Trump to default on it.

I agree with what you said R0ach, but don't forget that any raise in the USD will immediately equal to a weakening CNY.

Too many variables to address there since you have to posit China makes up the majority of the BTC buyer's market and anytime they perform such arbitrage action that there's a buyer for the coins they inflate to a higher price in the process.  I mean, it all sounds good on paper, but let's say China devalues by 30% in one swoop tomorrow and insider traders buy a bunch of BTC today.  For their trade to function, someone else on the planet has to be willing to buy BTC at 30% higher prices or the price comes back down again.  So it's less of a sure thing and more like a game of do the Chinese feel lucky today?