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

[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?

[jbreher]

OK. I can't stand it any longer. I gotta be that guy.

s/passed/past/

Sorry Jay but someone had to tell you sooner or later.

Thanks. Hits my grammar nazi trigger every time. The only reason I've not pointed it out as of yet is that I get the impression JJG thinks that I dislike him, and I don't want to reinforce that impression.

Just like franky1's refusal to capitalize anything. Of course, he/she is aware of the issue, and is willfully refusing to conform. I get the sense that JJG's 'passed' is inadvertent.

If it was any more pervasive, I'd have to think about adding it to my sidesig.

[lolikop]

Btc getting closer for a mega dump back to 700

[Gyrsur]

Btc getting closer for a mega dump back to 700

https://youtu.be/xoUNiAyP0zw

[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.

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?

You want to say that it's priced in ?

[JimboToronto]

Btc getting closer for a mega dump back to 700

Keep dreaming. While a mega-dump like that would be a great buying opportunity, it's highly unlikely to happen.

That's just wishful thinking. In the real world the price of Bitcoin has been rising long-term, medium-term and short-term, and shows no real reason not to continue rising. Live with it.

Up we go.

[JayJuanGee]

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.

I don't disagree with anything that you are saying here, Roach; however, I think that it remains a bit out of place, at this time, to attempt to place bitcoin into any asset/money categories that is correlated with traditional asset classes mainly because bitcoin is a very immature asset - and therefore, as long as it remains secure as a storage of value, then it is going to continue to be adopted in likely exponential ways - and that likely exponential growth is going to continue to have upwards price pressures on bitcoin - irrespective of the behaviors of various other mature (and likely centrally manipulated) assets/currencies...

Oh, surely, we are still going to have some short term playing off of one asset or currency or another with bitcoin, but overall, this ongoing adoption phase of bitcoin is going to continue bitcoin prices to continue to go up (which does not necessarily make bitcoin more valuable, but just increasingly and increasingly more widely used)