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

[piramida]

In this article they state that 4/5 banks will be using blockchain tech (not bitcoin) in 2017. But if they have their own blockchain it'll be centralized and not have the "bitcoin network." Is it inevitable that they will turn to bitcoin in the end?

Who really cares? Horse renting companies will not be using gasoline engines, instead they will train horses to drink gasoline because it's hip and everybody does that. Will they turn and replace all their horses when they start to explode spontaneously? I really do not know, but I am sure by that time they will be completely irrelevant anyway

[Hyperjacked]

This is gonna blow up in Bitcoin wallets...

[Torque]

In this article they state that 4/5 banks will be using blockchain tech (not bitcoin) in 2017. But if they have their own blockchain it'll be centralized and not have the "bitcoin network." Is it inevitable that they will turn to bitcoin in the end?


http://fortune.com/2016/11/21/goldman-sachs-r3-blockchain-consortium/

I worked in IT for the Finance industry for 10+ years, and I can tell you wholeheartedly that if some of them even manage to get a demo/pilot project (that basically proves/does nothing significant other than trying to impress some execs to greenlight a real budget) off the ground by 2020, that would be stretching it. The Finance industry moves at an excruciatingly slow pace when it comes to new/edge technology. And yes, without eventually plugging into the bitcoin blockchain network, their efforts will be largely useless.... an "interesting exercise" at best.

[tabnloz]

In this article they state that 4/5 banks will be using blockchain tech (not bitcoin) in 2017. But if they have their own blockchain it'll be centralized and not have the "bitcoin network." Is it inevitable that they will turn to bitcoin in the end?

Who really cares? Horse renting companies will not be using gasoline engines, instead they will train horses to drink gasoline because it's hip and everybody does that. Will they turn and replace all their horses when they start to explode spontaneously? I really do not know, but I am sure by that time they will be completely irrelevant anyway

it validates bitcoin so will only strengthen bitcoins credibility in the eyes of business, general public. ie 'if the banks are using this tech it must be trustworthy'

[mymenace]

In this article they state that 4/5 banks will be using blockchain tech (not bitcoin) in 2017. But if they have their own blockchain it'll be centralized and not have the "bitcoin network." Is it inevitable that they will turn to bitcoin in the end?

Who really cares? Horse renting companies will not be using gasoline engines, instead they will train horses to drink gasoline because it's hip and everybody does that. Will they turn and replace all their horses when they start to explode spontaneously? I really do not know, but I am sure by that time they will be completely irrelevant anyway

it validates bitcoin so will only strengthen bitcoins credibility in the eyes of business, general public. ie 'if the banks are using this tech it must be trustworthy'

forex thats where the advantage is trading national currencies against bitcoin, just like the altcoin exchanges

all currencies on their different blockchains, again just like altcoins

cannot wait to trade btc any where there is a centralised bank

[sirazimuth]

 blink and you may miss the 800's ( that might be an exaggeration but yawl get the point)

[mymenace]

In this article they state that 4/5 banks will be using blockchain tech (not bitcoin) in 2017. But if they have their own blockchain it'll be centralized and not have the "bitcoin network." Is it inevitable that they will turn to bitcoin in the end?


http://fortune.com/2016/11/21/goldman-sachs-r3-blockchain-consortium/

I worked in IT for the Finance industry for 10+ years, and I can tell you wholeheartedly that if some of them even manage to get a demo/pilot project (that basically proves/does nothing significant other than trying to impress some execs to greenlight a real budget) off the ground by 2020, that would be stretching it. The Finance industry moves at an excruciatingly slow pace when it comes to new/edge technology. And yes, without eventually plugging into the bitcoin blockchain network, their efforts will be largely useless.... an "interesting exercise" at best.

UBS whitepaper

https://www.ubs.com/microsites/blockchain-report/en/home.html

[DaRude]

In this article they state that 4/5 banks will be using blockchain tech (not bitcoin) in 2017. But if they have their own blockchain it'll be centralized and not have the "bitcoin network." Is it inevitable that they will turn to bitcoin in the end?

Who really cares? Horse renting companies will not be using gasoline engines, instead they will train horses to drink gasoline because it's hip and everybody does that. Will they turn and replace all their horses when they start to explode spontaneously? I really do not know, but I am sure by that time they will be completely irrelevant anyway

Nah they still use horses to give rides around parks. I'm sure we can find some niche for them

[Paashaas]

The exchanges are literally running out of coins. This is crazy. Not many people are willing to sell, and for a good reason that is!

My local Bitcoin dealer got 47 coins left for sale All those exchanges needs to filling up there supply today, so i assume the price will get another spike up!

$900 before X-mass? 

[unknown04]

Coinhako a Singapore exchange already ran out of bitcoins and no one can buy from there anymore... Message when you login: "We are sold out at the moment. Please try again later. Thank you for your patience. "

[spooderman]

i reckon a run up to about $4K over the next month

i wish i felt pressure to sell when the price was high, not low.

that said, i've hodl since 2012.

i've seen some shit.

[spud21]

i reckon a run up to about $4K over the next month

i wish i felt pressure to sell when the price was high, not low.

that said, i've hodl since 2012.

i've seen some shit.

What do you think the high of 2017 will be? Do you think $4K will be it, or do you think higher? This is the first time I experienced it getting close to an ATH so I'm out of my depth.

[JayJuanGee]

Coinhako a Singapore exchange already ran out of bitcoins and no one can buy from there anymore... Message when you login: "We are sold out at the moment. Please try again later. Thank you for your patience. "

From time to time, that used to happen on Circle and Coinbase, too. 

Sometimes it is matter of small amounts of liquidity on the exchange, overall, and even some poor planning on behalf of the business.

But, yeah, it becomes even a worse problem when the price is moving a lot in one direction rather than the other (and we seem to have that kind of a "problem" now, which may even get much "worse" if the price continues an increasing exponential upwards direction)

[spooderman]

i reckon a run up to about $4K over the next month

i wish i felt pressure to sell when the price was high, not low.

that said, i've hodl since 2012.

i've seen some shit.

What do you think the high of 2017 will be? Do you think $4K will be it, or do you think higher? This is the first time I experienced it getting close to an ATH so I'm out of my depth.

i've experienced all of them since $31.

given the history of bitcoin's price movements my hunch is that it'll run up to fairly close to $10k and then crash back down to the $3500-$5500 range for a while.

after that it's unlikely to crash again like the past 2 bubbles. there isn't the potential for disaster that there once was that would trigger these things.

so i imagine that after that another brief period will follow of not much movement and then another run up past $10k and suddenly flying all the way up to silly money in the hundreds of thousands and millions.

segwit becoming activated will make me more optimistic and committed to this guess. but even without any scaling attempt at all bitcoin's future is guaranteed and therefore it's appeal as a store of value is too.

[spooderman]

i reckon a run up to about $4K over the next month

i wish i felt pressure to sell when the price was high, not low.

that said, i've hodl since 2012.

i've seen some shit.

What do you think the high of 2017 will be? Do you think $4K will be it, or do you think higher? This is the first time I experienced it getting close to an ATH so I'm out of my depth.

i've experienced all of them since $31.

given the history of bitcoin's price movements my hunch is that it'll run up to fairly close to $10k and then crash back down to the $3500-$5500 range for a while.

after that it's unlikely to crash again like the past 2 bubbles. there isn't the potential for disaster that there once was that would trigger these things.

so i imagine that after that another brief period will follow of not much movement and then another run up past $10k and suddenly flying all the way up to silly money in the hundreds of thousands and millions.

segwit becoming activated will make me more optimistic and committed to this guess. but even without any scaling attempt at all bitcoin's future is guaranteed and therefore it's appeal as a store of value is too.

IOW

This is Gentlemen.

this was always gentlemen.

[Ted E. Bare]

spooderman knows

[spooderman]

on another note, why is stamp consistently above finex? that never used to be the case, did something trivial change here? has it been this way since finex got hacked?

i haven't been paying close attention to the variation among exchanges for quite a long time. stamp would always lag below the other exchanges.

[JayJuanGee]

i reckon a run up to about $4K over the next month

i wish i felt pressure to sell when the price was high, not low.

that said, i've hodl since 2012.

i've seen some shit.

Do you usually do the opposite of what you are supposed to do?

Sell low and buy high, rather than buy low and sell high?

It seems to me to be a very tempting inclination that most people seem to have (especially if they are not really trained in trading), and it seems that it is possible (but difficult) to train yourself out of thinking and feeling like that in order that you are prepared to do the right thing when the rubber hits the road (that is to buy low and to sell high).

[JayJuanGee]

on another note, why is stamp consistently above finex? that never used to be the case, did something trivial change here? has it been this way since finex got hacked?

i haven't been paying close attention to the variation among exchanges for quite a long time. stamp would always lag below the other exchanges.

I think that some of the dynamics at Finex has changed a little, but those dynamics may work themselves out over the coming months... At least, I hope that they do.

In the past several hours; however, there have been several times that walls of coins have been put up at $839, and currently at $844  (200 to 500 coins), and I am not sure if there are just too many coins on bitfinex and not enough cash - since, possibly, some of the bigger whales may have decided to pull some of their cash off of the exchange, and you know how much easier it is to move coins rather than cash.. so when push comes to shove, there may be a much easier ability to move coins to bitfinex rather than cash and there are not enough folks on bitfinex storing cash..   i am kind of guessing on this point based on what could be a kind of feasible scenario.

[notme]

on another note, why is stamp consistently above finex? that never used to be the case, did something trivial change here? has it been this way since finex got hacked?

i haven't been paying close attention to the variation among exchanges for quite a long time. stamp would always lag below the other exchanges.

I think that some of the dynamics at Finex has changed a little, but those dynamics may work themselves out over the coming months... At least, I hope that they do.

In the past several hours; however, there have been several times that walls of coins have been put up at $839, and currently at $844  (200 to 500 coins), and I am not sure if there are just too many coins on bitfinex and not enough cash - since, possibly, some of the bigger whales may have decided to pull some of their cash off of the exchange, and you know how much easier it is to move coins rather than cash.. so when push comes to shove, there may be a much easier ability to move coins to bitfinex rather than cash and there are not enough folks on bitfinex storing cash..   i am kind of guessing on this point based on what could be a kind of feasible scenario.

I believe that margin trading is still disabled.  Much of the cash stored on finex was there to server as margin for long BTC positions.  Without that fat interest rate many people probably moved their funds elsewhere.