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

[Paashaas]

Jihan and Roger are both the biggest piece of shit i've ever seen, and all those BU fans are all just clueless sheeps.

[edgar]

Right now it's literally the alt-coin lotto. Pick an altcoin. Any altcoin. If you're lucky it will get pumped, summarily dumped and then you'll be rich.

I was lucky with ZEC had his 80% increase, but my wallet couldt move the ZEC out lol. Problem was solved after the pump. Anyway seems just like some millionare game to me. They just decide which one to pump,  wait for the FOMO traders to kick in and than they are getting out, and on and on it goes. This almost makes it impossible to predict those prices. Just 1 small announcement and the price increases with 170%. They are just letting Dash bleed like they did to ripple. And after that they are going to pump dash again because of screw you FOMO traders. Patterns are clear to everyone here who have trading experience. Anyway i stay away from coins like Litecoin and Ripple. Far far away.

this is the first and only post of yours that made any sense at all, right up until you throw LTC in with a piece of shit like ripple

[chopstick]

Blockstream are aiming to be the Federal Reserve Planners of Bitcoin and you guys are bitching about BU, which is all about returning to Satoshi's original scaling roadmap of on-chain scaling.

Jesus, is there any hope left for Bitcoin at this point?

The community is grade-A retarded.

[JimboToronto]

Am I the only one here interested in Bitcoin price movement tracking & discussion?

We've just hit $1120 at Bitcoinaverage, $1119 at Stamp.

Go Bitcoin go.

[Killerpotleaf]

Am I the only one here interested in Bitcoin price movement tracking & discussion?

We've just hit $1120 at Bitcoinaverage, $1119 at Stamp.

Go Bitcoin go.

its just popped its head over 1141 at bitfinex.

feels like chinese are pushing this time.

[JimboToronto]

feels like chinese are pushing this time.

Maybe, but it's only $1004 at OKCoin.

Perhaps the Chinese are buying offshore because of withdrawal hassles at home.

[Killerpotleaf]

feels like chinese are pushing this time.

Maybe, but it's only $1004 at OKCoin.

hmmm looks like i'm totally off base. 

[Killerpotleaf]

[DaRude]

Blockstream are aiming to be the Federal Reserve Planners of Bitcoin and you guys are bitching about BU, which is all about returning to Satoshi's original scaling roadmap of on-chain scaling.

Jesus, is there any hope left for Bitcoin at this point?

The community is grade-A retarded.

Nope no hope, community is retarded, but even retards have enough math skilz to realize that on chain solutions won't work. i.e. you can have 200MB blocks and not even cover the transaction volume that Visa handles, and still have to wait 10min to get to a next block but at least you finally got rid of that decentralization thing 

mathz are hard

[JimboToronto]

$1500CAD at Bitcoinaverage.

It's nice to be back. 

[Coinnosaurus]

Am I the only one here interested in Bitcoin price movement tracking & discussion?

We've just hit $1120 at Bitcoinaverage, $1119 at Stamp.

Go Bitcoin go.

its just popped its head over 1141 at bitfinex.

feels like chinese bots are pushing this time.

FTFY

[gembitz]

$1500CAD at Bitcoinaverage.

It's nice to be back. 

^Bitcoin heading up again ~ moon catapult to planet x :-D #btc++#etc(etherzzz) 

[gembitz]

Blockstream are aiming to be the Federal Reserve Planners of Bitcoin and you guys are bitching about BU, which is all about returning to Satoshi's original scaling roadmap of on-chain scaling.

Jesus, is there any hope left for Bitcoin at this point?

The community is grade-A retarded.

^NEW YORK CITY!! :-D ~ core masterminds are ambitious yet rigid ~ Vercoiners are like the hooligans throwing beer bottles in the parking lot! *haha gotta love it! :-D

https://twitter.com/rogerkver/status/848534782019387392/photo/1


#satoshi
 

[Mervyn_Pumpkinhead]

I smell the same kind fear I have smelled here before. Important indicators are the hardcore fanatics, starting to blame everyone and everything for not making them wealthier faster. Fear is already transitioning to anger..

[rpietila]

Fear is already transitioning to anger..

..after which anger gives way to joy, but some need to go through many emotions in the meantime and miss out the Markka pump, which is not even halfway yet, just consolidating at 12 million to enable the next phase of investors to move money in. When the peg cannot be maintained, well obviously a move will result, that much seems clear to me, even without any insider info.

[HI-TEC99]

Am I the only one here interested in Bitcoin price movement tracking & discussion?

We've just hit $1120 at Bitcoinaverage, $1119 at Stamp.

Go Bitcoin go.

It's been a few hours and that price is still holding on bitstamp, it even has an $1127 twenty four hour stamp high. Do we carry on going up now the banks are starting to open?

[bitebits]

And someone didn't want to accept my statement that bitcoin is a currency and not money so I had to explain in greater detail why:

Bitcoin is a currency not money.  If you don't agree, YOU don't understand finance.  It's a Rube Goldberg machine and nothing more.  No random bullshit made up of completely arbitary variables created by humans is money.  Money represents goods and services or the ability to do work.  It's required to be connected to some type of commodity or energy resource if you're abstracting the system away from barter, otherwise the system is easily gamed and implodes as always.

Bitcoin is not a real commodity, it's a poor immitation like some type of tranny.  The sunk cost in so called "creating" a bitcoin in the past does not transfer into delivering anything tangible into the future.  It's more like a steady state system that can catastrophically fail and vaporize all imaginary "wealth" attached to it at any time - the glaring trait of all currencies past and future.  One of the main reasons the noble metals are valued as money (gold and silver) are the anti-corrosive properties to defeat time itself, which guarantees you the ability to transfer that unit of account from the past to future, UNLIKE bitcoin.

The distinction between money and currency is one that is blurry and arbitrary.

Many tend to think of money as something that is tied to a physical commodity and everything else as currency but that is not really accurate.

The reality is that all money/currency is an arbitrary construct created by man to facilitate trade and savings. Paper currencies have a long track record of failure. This failure is due to the inherent flaws of mankind rather then a fundamental problem with paper money.

We choose to embrace things like fractional reserve lending, defect spending, and unfounded entitlements all of which lead to fiscal instability and undermine the currency system leading to eventual failure.

Gold and Silver are simply attempts to take human weakness out of the picture by tying the concept of money to something that cannot be easily forged or mass produced. This works to a degree but it historically also ultimately fails to restrain us from eventually debasing and destroying the currency system. We see this in Rome and also in our recent past as we were not long ago on a gold standard.

Bitcoin is a new attempt to separate destructive human weakness from a money/currency system. The new mechanism is decentralization and computer algorithm to replace flawed human judgment. If it will succeed long term remains to be seen but we know paper currency consistently and repeatedly fails and we know precious metal currency repeatedly fails so now we will learn how well digital currency works.

How this scaling debate plays out will be important to watch. The 95% requirement for implementation as seen in some of the Bitcoin update proposals is a very wise threshold to use. If Bitcoin ever becomes a simple voting mechanism where 51% of hashing power is able to implement widely accepted changes to the protocol over the objections of the other 49% then human error has returned to the forefront. Bitcoin would then become the same system we already have.  A complex fiat voting system.

Thanks for your write-up, interesting read.

[tk3609]

Since we didnt see any retrace over the weekend, I wouldnt be suprised at all, if bull trap awaited us during tommorrow or day after that. It wouldnt be the first time we decide to take a plunge on monday...

Looks like indeed we have a correction going.

[JayJuanGee]

Since we didnt see any retrace over the weekend, I wouldnt be suprised at all, if bull trap awaited us during tommorrow or day after that. It wouldnt be the first time we decide to take a plunge on monday...

Looks like indeed we have a correction going.

Looks like indeed you are reading this whole situation out of context.

When Okurkabinladin wrote his post, the price was floating around $1080 $1180 (Correction).  Accordingly, the price went up to nearly $1130 and then retraced back down to $1115.

That is hardly a "correction"

When ever you get a decent size upward price movement, you also will find pauses in the upwards movement and you will also find retraces of some or all of the movement;  however those retracements do not rise to the level of a "correction" because they are mere retracements of a recent upwards price movement that does not even rule out the possibility that the price is going to continue its upwards trajectory.

In other words for the moment we are experiencing upwards movement and a pause and nothing near a "correction."... not yet, anyhow...

A proper "correction" would be price plunges that at least retrace the whole gamut of the price recent price increase plus adding an additional percentage on the origination price point..

[HI-TEC99]

Since we didnt see any retrace over the weekend, I wouldnt be suprised at all, if bull trap awaited us during tommorrow or day after that. It wouldnt be the first time we decide to take a plunge on monday...

Looks like indeed we have a correction going.

It could go up, down, or sideways. Some posters here are saying it will go up, others are saying it will go down, but nobody's saying it will go sideways. As the minority is usually right I'll speculate on it going sideways.