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

[sidhujag]

Perhaps at $10000 you will consider it a store of value rather than a processor.

You're just being irrationally biased now.  Everyone knows metals are more fungible, more anti-fragile, and less counter party risk.  This means Bitcoin can never dethrone metals as a store of value or hope to compete with them on Exter's pyramid.  If you're acting as a settlement layer, you're attempting to compete with metals as a store of value and Bitcoin CANNOT do it.  This means Bitcoin has to derive value more from raw transaction flow and being a payment processor instead.  

This is why I think Bitcoin probably doesn't have a value proposition without large scaling.  The lightning network claims to be able to do that, but I'm not convinced it can do so in a decentralized manner when economy of scale already forces centralization in the base bitcoin network in the first place.  Bitcoin did not "solve" the decentralization problem.   Bitcoin is a centralization problem waiting for someone to solve it.

As for solving that centralization problem, to do so you would likely need to engineer it so it's impossible to practice usury in bitcoin.  The only way I can think of to do that is either unprofitable PoW (which probably can't work in practice), or by some really exotic system of decentralized captchas where anyone attempting to solve blocks requires manual human intervention and can't be automated on cruise control via CPUs as I talked about in the thread below.

You cannot have decentralization without engineering bitcoin so automated usury is impossible

https://bitcointalk.org/index.php?topic=1700073.0

Whether you believe "god" is a person, quantum fluctuation, whatever, metals are a blockchain created by "god"; bitcoin is a blockchain created by people.  The blockchain created by people can never compete because it will always have more flaws or side channel attacks that render it useless.  I have a feeling anything blockchain related will forever be a Rube Goldberg machine that claims to accomplish some type of task, but in reality fails to accomplish that task (decentralization) while doing it an extremely complicated manner.

Can you prove your first statement? Ive already debunked your exters pyramid you keep bringing up. It is a better store or value it just suffers from phsycological issues of holding a mathematical proof instead a heavy immovable object such as gold. Bitcoin is not a processor and does not have to compete to be one. Once it rises a bit people will open up to holding the proof instead of an iou of gold which is required because people are not capable of storing their wealth in gold in any meaningful manor... proof > iou. Qed.

[1713432121]

1713432121

[PoolMinor]

So how long until PBOC tries to squash this rally too?  

I don't really think that the Chinese squashed the last rally.

O.k.  sure there was some about a 30% correction that happened to come with the announcement and the FUD spreading, but the reality of the matter is that some of that correction was already due.. whether it was the chinese excuse or some other excuse for a correction.. did not really matter too much, there was a kind of need for a correction... so no need to get panties in a twist over figuring out exact causation.

BTC literally dropped as soon as PBOC made the announcement that they were going to investigate those major exchanges. That 30% drop could not be more directly related the PBOC squashing the rally. If that did not happen, btc could potentially be at a $20 billion market cap by now. ppl around the world are waking up ( ͡° ͜ʖ ͡°)

Bullshit, BTC dropped after they reached the target of 8888 CNY, I watched it. This was all prior to any news FUD. Go read a chart or something

>go read a chart or something
yea ok, thanks for opening my eyes. maybe btc will return to it's true value of $0.00! xD

They never made any announcement saying they were investigating any exchange, you will notice the only "news" agency reporting such were Bitcoin affiliated sites.

http://shanghai.pbc.gov.cn/fzhshanghai/113571/3230012/index.html

"Urged the platform in accordance with relevant laws and regulations to carry out self-examination and the corresponding clean-up and rectification."

[Killerpotleaf]

maybe an infographic will help.. 1 min

[JayJuanGee]

So how long until PBOC tries to squash this rally too?  

I don't really think that the Chinese squashed the last rally.

O.k.  sure there was some about a 30% correction that happened to come with the announcement and the FUD spreading, but the reality of the matter is that some of that correction was already due.. whether it was the chinese excuse or some other excuse for a correction.. did not really matter too much, there was a kind of need for a correction... so no need to get panties in a twist over figuring out exact causation.

BTC literally dropped as soon as PBOC made the announcement that they were going to investigate those major exchanges. That 30% drop could not be more directly related the PBOC squashing the rally. If that did not happen, btc could potentially be at a $20 billion market cap by now. ppl around the world are waking up ( ͡° ͜ʖ ͡°)

You can read the matter however however you like, and there is nothing wrong with folks having differing opinions regarding causation and betting or their views accordingly.

However, each of us should be cautious in our own thinking regarding correlation and causation, and even the consideration of multiple causal factors, rather than coming up with explanations that are overly simple or give too much weight to an event that may have been a trigger but just in a kind of coincidental way rather than a meaningful way.

So how long until PBOC tries to squash this rally too?  

I don't really think that the Chinese squashed the last rally.

O.k.  sure there was some about a 30% correction that happened to come with the announcement and the FUD spreading, but the reality of the matter is that some of that correction was already due.. whether it was the chinese excuse or some other excuse for a correction.. did not really matter too much, there was a kind of need for a correction... so no need to get panties in a twist over figuring out exact causation.

BTC literally dropped as soon as PBOC made the announcement that they were going to investigate those major exchanges. That 30% drop could not be more directly related the PBOC squashing the rally. If that did not happen, btc could potentially be at a $20 billion market cap by now. ppl around the world are waking up ( ͡° ͜ʖ ͡°)

Bullshit, BTC dropped after they reached the target of 8888 CNY, I watched it. This was all prior to any news FUD. Go read a chart or something

>go read a chart or something
yea ok, thanks for opening my eyes. maybe btc will return to it's true value of $0.00! xD

When you are spouting out nonsense like this (True value of bitcoin = $0), then you do not deserve to be taken seriously.

[Genesis1337]

So how long until PBOC tries to squash this rally too?  

I don't really think that the Chinese squashed the last rally.

O.k.  sure there was some about a 30% correction that happened to come with the announcement and the FUD spreading, but the reality of the matter is that some of that correction was already due.. whether it was the chinese excuse or some other excuse for a correction.. did not really matter too much, there was a kind of need for a correction... so no need to get panties in a twist over figuring out exact causation.

BTC literally dropped as soon as PBOC made the announcement that they were going to investigate those major exchanges. That 30% drop could not be more directly related the PBOC squashing the rally. If that did not happen, btc could potentially be at a $20 billion market cap by now. ppl around the world are waking up ( ͡° ͜ʖ ͡°)

Bullshit, BTC dropped after they reached the target of 8888 CNY, I watched it. This was all prior to any news FUD. Go read a chart or something

>go read a chart or something
yea ok, thanks for opening my eyes. maybe btc will return to it's true value of $0.00! xD

They never made any announcement saying they were investigating any exchange, you will notice the only "news" agency reporting such were Bitcoin affiliated sites.

http://shanghai.pbc.gov.cn/fzhshanghai/113571/3230012/index.html

"Urged the platform in accordance with relevant laws and regulations to carry out self-examination and the corresponding clean-up and rectification."

OK so? if u still believe the correction came because "muuh 8888CNY technical analysis" then you're delusional

[Genesis1337]

>charts
not even once

[Killerpotleaf]

[Genesis1337]

11/10 lol

[PoolMinor]

[imghttps://s28.postimg.org/wka0dktjh/tradingbitcoinmeme.png[/img]

BelieveItOrNotButWhatYouIllustratedFollowsMostChartsOfThe3sAnd5sCycle.After3Ups ItIsDueForCorrection.

[600watt]

<evasiveness>

True or false? If we are having this conversation then this is a question that can not be avoided. Is peace a temporary situation between two wars or not? Is it a permanent thing? What will it be?

I asked you a simple question and you keep avoiding it. Why?

i dont see any relevance in your little distraction that "can not be avoided". wars are temporary situations between times of peace the same way as peace could be viewed as a temporary situation between times of war. so now we accomplished the monumentous historic insight that war and peace are taking turns.

please answer my question now about the valid reasons for killing innocent kids. I really really want you to tell me.

Edit: typo

[egghead123]

This is a neural forecast where the candles are the future projected movements and the pink line is the future trend etc.Trend box also at the bottom of each chart shows green arrows for positive trend and red downtrend.Only readdings over 70% are to be considered reliable.The prediction starts at the vertical broken gold line on each chart.There is a 4 hour short term/Daily medium term and weekly longer outlook.


BTCUSD, H4, 2017.02.01



BTCUSD, D1, 2017.02.01



BTCUSD, W1, 2017.02.01

[Karartma1]

Come guys let's get over it 

[cmacwiz]

Yea, this makes r0ach seem not so bad !

c'mon quad-digits before bedtime

[Searing]

Ah...$978 usd per btc....the 'sneaky' and 'unnoticed" midweek 'hump day' stealth pump......

well played ..btc....well played...(gets popcorn for the weekend)

moon

 

[kurious]

Hmm you know what good point. I didn't think about it from that angle. I concede and agree. We should start eradicating nazis right now, before they get too strong again

It's certainly gone far enough in terms of fascist, misogynistic, anti-semitic, hate rhetoric here.  Tempting though it is to eradicate this kind of scum completely, I would settle for a post ban, to take away the keyboard warriors' ability to spread their disease.  

Adam would not have allowed this, why does Lauda?

[Ibian]

Japan while patriarchal in history [and still showing its roots today] is struggling with an aging population, and very few children. The country's population is literally shrinking because less people are having children and that is causing a problem there.

Same thing in the entire west. Been that way since about the 80s.

[Okurkabinladin]

One would say, that with all the action in markets right now, well have conversation about Bitcoins.

Alas, that is not the case. Instead its the marxist cuckolds against testoterone driven darwinists about the meaning of life.

Welcome to the Bitcointalk forum, folks!

[Ibian]

One would say, that with all the action in markets right now, well have conversation about Bitcoins.

Alas, that is not the case. Instead its the marxist cuckolds against testoterone driven darwinists about the meaning of life.

Welcome to the Bitcointalk forum, folks!

It's not really exciting until we pass 1k. Patience.

[PoolMinor]

This is a neural forecast where the candles are the future projected movements and the pink line is the future trend etc.Trend box also at the bottom of each chart shows green arrows for positive trend and red downtrend.Only readdings over 70% are to be considered reliable.The prediction starts at the vertical broken gold line on each chart.There is a 4 hour short term/Daily medium term and weekly longer outlook.


BTCUSD, H4, 2017.02.01

[imghttps://charts.mql5.com/13/942/btcusd-h4-fxopen-investments-inc.png[/img]http://BTCUSD, D1, 2017.02.01



BTCUSD, W1, 2017.02.01

[imghttps://charts.mql5.com/13/942/btcusd-w1-fxopen-investments-inc.png[/img]

If I am reading this correctly I believe the image that I left quoted properly (the daily) is nearly spot on for what my prediction is.

[K~Ehleyr]

Jesus, I hoped this thread might become readable after I put r0ach on ignore (get help, fast, you're a danger to yourself and others!)

Somebody please PM me when we're ready to start talking about Bitcoin again.