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

[gembitz]

Today will be the last day we'll see bitcoin at triple digits, at least for a couple of weeks/months..

It still hasn't dipped down to triple digits yet today and with the price starting to rise again, my guess is that it won't.

China is waking up and with the Chinese exchanges being over $30 higher than the western exchanges despite the absence of phony volume, things are indeed looking very bullish.

^alot of people want to see what the cryptocurrencies have to offer ! Bitcoin is the biggie ... i see a huge consolidation taking place with scams like onecoin getting shut down :-D

[DoktorKopf]

^yeah it will take a miracle to save the naked shorts now! :-D poor china

you keep saying this 'naked shorts' - I don't think it means what you think it means.

There are no 'naked' shorts in bitcoin, it comes from a time when there was a gap of some days between trade and settlement, when the very brave could 'sell' without having borrowed the underlying and have a few days to rebuy before the books were reconciled. I don't know of any bitcoin exchange that allows you to sell without owning or borrowing (against collateral that would be called).

I suppose if your tinhat is especially shiny you might think the house itself plays that game...

[Genesis1337]

People are finally opening their eyes to bitcoin!!!    How can the governments around the world crush this rally?

[gembitz]

^yeah it will take a miracle to save the naked shorts now! :-D poor china

you keep saying this 'naked shorts' - I don't think it means what you think it means.

There are no 'naked' shorts in bitcoin, it comes from a time when there was a gap of some days between trade and settlement, when the very brave could 'sell' without having borrowed the underlying and have a few days to rebuy before the books were reconciled. I don't know of any bitcoin exchange that allows you to sell without owning or borrowing (against collateral that would be called).

I suppose if your tinhat is especially shiny you might think the house itself plays that game...

^Chinaman exchanges are short bitcoin!! Pure and simple...fraud on exchanges :-D

[JayJuanGee]

^tl;dr we fixed the scaling problem for another couple years = 2MB nextttt :-D

Yeah.  You keep repeating this stupid, nonsensical and lame fantasy point.

Who is the "we"?  

and what is the supposed actual fix?

beyond your merely asserting it over and over in order to get attention with misinformation?

^the lightning network/core cartel are going to realize what we have done!? lol

Still aspirational gobbledygook stated as if it were facts.

I understand that there are various second layer solutions, including lightning network, that would likely be able to more easily build, once seg wit goes live - but we all should know by now that the support for segwit has not been growing.. and it seems to be somewhat flat at the moment - unless there is some kind of under ground support that is still working on getting it's shit together regarding signaling for segwit.

Concededly, we are a bit less than 3 months into the signaling for segwit period, so we have another 9 months or so before other considerations may need to be employed - if this one does not get activated in that time under currently proposed conditions.  

It does seem that activating seg wit would be very good and bullish for bitcoin, and probably much beyond a $2k scenario (even though nothing is guaranteed in bitcoinlandia)

^SegWit sounds like a good idea imo, however this is not the final solution to the blocksize issue...i think segwit & increase to 2MB will give us a few more years to dream up a long term strategy!! :-D

O.k.. it appears that we agree that seg wit is going to be beneficial to some of the scaling matters as long as it passes at some point in the near future.

Don't get me wrong.  I am not proclaiming that the future does not matter; however, there are frequently lots of suggestions that bitcoin has to be made in such a way that is future proof.. blah blah blah.. but that is really a silly ass argument.

It is likely that scaling is going to be an issue for bitcoin for a long time into its future, so yeah, the question will have to be revisited from time to time, unless for some reason seg wit solves all the scaling issues.. which does not seem to be too likely... but anyhow, sometimes, there is a need to verify how one application and stage plays out before taking any actions or planning specifics for future actions (even while at the same time preparing that there may be various scenarios that play out and various kinds of plans that can tentatively be made in order to prepare for the future).  At the same time, it does not seem prudent to plan and or prepare for specifics of a future when some of the material factors might not be currently known... so yeah, there can be a framework in place to prepare for the future, but maybe the framework may even need to be tweaked, if some future events play out a bit differently than what had been anticipated in earlier days.   

In other words, one step at a time... before getting all hot and bothered about the next step before the previous step has even played out.

[AlexGR]

People are finally opening their eyes to bitcoin!!!   How can the governments around the world crush this rally?

By hiring "forking" actors. Forks and threats of forks are traditionally bad for price. And just when price is starting to go well, just like clockwork, the forking drama is reignited. These people are cancer. We are just lucky that demand is so heavy that it exceeds the possible short-term problems created by the drama.

[JayJuanGee]

thanks Jimbo, appreciated.
I might have overreacted on beecoin's post to.

Actually, I was around that depressing time and holded all the time, and even bought more.

GL

What has been your BTC strategy, slap?   When did you start buying?  Do you sell too or short, or just buy and HODL?

[European Central Bank]

By hiring "forking" actors. Forks and threats of forks are traditionally bad for price. And just when price is starting to go well, just like clockwork, the forking drama is reignited. We are just lucky that demand is so heavy that it exceeds the possible short-term problems created by the drama.

i've yet to see any fork talk affect the price. it's a long term and ongoing cancer, not like a china ban or gox death that's instant. the only time there will be an effect is if it's clear there is going to be contentious fork after which there might not a be a price at all.

and traders don't seem to care about a clogged network either.

[JayJuanGee]

People are finally opening their eyes to bitcoin!!!    How can the governments around the world crush this rally?

They might not be successful, but I would not write off several of them trying and also engaging in various kinds of divide and conquer tactics in order to oppress their citizens in various ways in respect to bitcoin and its usage.

[slap]

thanks Jimbo, appreciated.
I might have overreacted on beecoin's post to.

Actually, I was around that depressing time and holded all the time, and even bought more.

GL

What has been your BTC strategy, slap?   When did you start buying?  Do you sell too or short, or just buy and HODL?

Hodling mostly, some for short term trading.
Trying to make more btc from alts. Looking for promising alts.
All said.

[AlexGR]

By hiring "forking" actors. Forks and threats of forks are traditionally bad for price. And just when price is starting to go well, just like clockwork, the forking drama is reignited. We are just lucky that demand is so heavy that it exceeds the possible short-term problems created by the drama.

i've yet to see any fork talk affect the price.

Yeah so far so good. But there is the history of xt and classic threats and their impact in price.

it's a long term and ongoing cancer, not like a china ban or gox death that's instant. the only time there will be an effect is if it's clear there is going to be contentious fork after which there might not a be a price at all.

Exactly. At that point BTC is as good as dead, for setting a precedent that allows anyone to fork it for whatever bullshit reason. And some people are trying very hard to do it.

and traders don't seem to care about a clogged network either.

They shouldn't because it's a technical and game theory issue. Even at 1 gb blocks, there could be a guy setting up a script that makes sure to fill 3 gb txs in 10 mins and claim the network is clogged and needs upgrading. It's doable because Bitcoin does not have any proper measure to protect itself from this kind of abuse, other than the blocksize limit satoshi implemented. An alternative would be a relatively big fixed fee for the minimum tx to act as a disincentive. The bottom line is that broadcasting txs doesn't cost anything, and the tx won't cost anything if it doesn't get processed (by putting it at a fee level lower than the bulk of other txs) - so you can always claim that there is a shortage of space and clogging.

Wallet software is where the game is at, rather than traders, because that's what affects usability. If the user doesn't understand that they have to put X fee to get their tx in by Y blocks, then you have complaints that they are waiting too long. Plus an option to bump one's fee up -in case one issued a tx with a low fee- should be implemented in the user interface.

[JayJuanGee]

thanks Jimbo, appreciated.
I might have overreacted on beecoin's post to.

Actually, I was around that depressing time and holded all the time, and even bought more.

GL

What has been your BTC strategy, slap?   When did you start buying?  Do you sell too or short, or just buy and HODL?

Hodling mostly, some for short term trading.
Trying to make more btc from alts. Looking for promising alts.
All said.

O.k.  those strategies can be reasonable - depending on proportions and regarding alts not risking too much when alts can be manipulated even more easily than bitcoin which can work to your advantage, but also work against you too. 

There can also be some liquidation issues with some of the alts, that may not always be apparent until after you are in them.... bitcoin is not free from liquidation issues, but does seem to have quite a few more liquidation avenues - that can also vary considerably based on geographical location.

[gembitz]

People are finally opening their eyes to bitcoin!!!   How can the governments around the world crush this rally?

By hiring "forking" actors. Forks and threats of forks are traditionally bad for price. And just when price is starting to go well, just like clockwork, the forking drama is reignited. These people are cancer. We are just lucky that demand is so heavy that it exceeds the possible short-term problems created by the drama.

^"BTCitcoin The movie™ " forking actors? :-D  haaa

[marcus_of_augustus]

People are finally opening their eyes to bitcoin!!!   How can the governments around the world crush this rally?

By hiring "forking" actors. Forks and threats of forks are traditionally bad for price. And just when price is starting to go well, just like clockwork, the forking drama is reignited. These people are cancer. We are just lucky that demand is so heavy that it exceeds the possible short-term problems created by the drama.

^"BTCitcoin The movie™ " forking actors? :-D  haaa

there is no fork



bend your mind to the illusion of crises behind governance power grabs

[gembitz]

People are finally opening their eyes to bitcoin!!!   How can the governments around the world crush this rally?

By hiring "forking" actors. Forks and threats of forks are traditionally bad for price. And just when price is starting to go well, just like clockwork, the forking drama is reignited. These people are cancer. We are just lucky that demand is so heavy that it exceeds the possible short-term problems created by the drama.

^"BTCitcoin The movie™ " forking actors? :-D  haaa

there is no fork



bend your mind to the illusion of crises behind governance power grabs

   

[Paashaas]

$1000 is holding, that is a very bullish signal.

[Karartma1]

$1000 is holding, that is a very bullish signal.

Give me $1000 and the 4 digits a little longer and I will probably agree. When $1000 can clearly be called the new bottom the show will begin. So looking forward to that.
For the time being that's all I care about 

[toknormal]

Earwig. Low.

[gembitz]

Earwig. Low.

^BITCOIN leets Gavin and Co. prolly run it to BRK.A price when this happens!!

[toknormal]

^BITCOIN leets Gavin and Co. prolly run it to BRK.A price when this happens!!

Translation for the deaf