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

[European Central Bank]

I think some prices in china are due to the withdrawal issue (you can withdraw in cash, not in btc - so you sell the btc to get your cash).

Not sure if they've allowed normal withdrawals.

This case is long gone, btc withdraws were blocked only on okcoin.cn not okcoin.com, and the block was shifted like a month ago.

tell that to the chinese. by the looks of things they're all still waiting.

https://news.bitcoin.com/big-money-china-bitcoin-traders-wait-withdrawal/

[harrymmmm]

https://btc.com/stats/pool/F2Pool

F2pool signaling for segwit again, but this guy is such a prick tease it's hard to take anything seriously any more.

Some time ago, I noticed his whois admin address was only a 10 min walk from me.
Maybe I should turn up at his door with a few dozen beers and have a nice lil chat with him.

[BitcoinNational]

Bitcoin Domination

dominating the ALTs ... ... that's not the trend for 2017 ... trend is BTC is the high-end chip, for institutional players.  ALTs are going to be the fast money, moving TX, at street level.

[becoin]

Bitcoin Domination

dominating the ALTs ... ... that's not the trend for 2017 ... trend is BTC is the high-end chip, for institutional players.  ALTs are going to be the fast money, moving TX, at street level.

Pump and dump highly centralized tokens aren't suitable to be used as money at street level.

[r0ach]

Bitcoin Domination

dominating the ALTs ... ... that's not the trend for 2017 ... trend is BTC is the high-end chip, for institutional players.  ALTs are going to be the fast money, moving TX, at street level.

Pump and dump highly centralized tokens aren't suitable to be used as money at street level.

If any "coin" is used at street level, it's going to be a govt issued digital slave token or silver and copper.

[Torque]

Bitcoin Domination

dominating the ALTs ... ... that's not the trend for 2017 ... trend is BTC is the high-end chip, for institutional players.  ALTs are going to be the fast money, moving TX, at street level.

Pump and dump highly centralized tokens aren't suitable to be used as money at street level.

If any "coin" is used at street level, it's going to be a govt issued digital slave token or silver and copper.

Gresham's law.

Bad money circulates. Good money gets HODLed.

[york780]

Bitcoin Domination

dominating the ALTs ... ... that's not the trend for 2017 ... trend is BTC is the high-end chip, for institutional players.  ALTs are going to be the fast money, moving TX, at street level.

Pump and dump highly centralized tokens aren't suitable to be used as money at street level.

If any "coin" is used at street level, it's going to be a govt issued digital slave token or silver and copper.

Gresham's law.

Bad money circulates. Good money gets HODLed.

Theory is that bad money drives good money out of the market right?
BTC isnt money tho ^^ its a store of value.

[r0ach]

BTC isnt money tho ^^ its a store of value.

Nothing could be further from the truth.  Bitcoin is a currency, not money.  It's not a store of value.  I already explained why:

You're acting like bitcoin has a finite supply.  In theory it does, but not in practice since transaction fees are recycled and mining continues FOREVER.  It's the equivalent of if platinum costs $1000 an ounce to mine at some point but people are recycling old cars and getting it for $100 an ounce.  The lowest available price is the only one that matters.  It doesn't matter if the cost of production was $1 million for a coin at some point. It's an open entropy system so if the cost of production goes to zero, people simply plug into the system and mine those recycled coins for free rather than paying you $1 million.  

If there are no recycled fees to mine, it means the system was already dead in the first place.  The act of making fees recycle is the equivalent of infinite supply, just with the store of value aspect of that supply resting on cost of production instead of scarcity.  Each halving doubles cost of production, which enables you to increase price or lower mining input.  If you run out of halvings and then lower cost of production, you should have a corresponding effect to devalue other already existing coins.  Do you see now why cost of production actually does matter?

The thing is designed as some type of scheme where you need infinitely increasing cost of production to prevent it from imploding.  Speaking of schemes, the people running Bitfinex are back putting up big walls with money that doesn't even exist again.  Just Gox dollars in their internal system:

[julian071]

Up, up and awaaaaayyy

[Coinnosaurus]

Up, up and awaaaaayyy

you are talking about that 3k buy order on finex ? something tells me that price on bitstamp or coinbase will go further down ..

[Karartma1]

shaking weak hands. ordinary days.
It's Easter guys, just hold 

[arklan]

*yawn* have we solved scaling yet? no? ok. *rolls over and goes back to sleep*

what? i may not be a bear (market or otherwise) but i can hibernate too, dammit!

[york780]

*yawn* have we solved scaling yet? no? ok. *rolls over and goes back to sleep*

what? i may not be a bear (market or otherwise) but i can hibernate too, dammit!

Maybe sideways/down for a couple more months untill we have a breaktrough with the scaling debate

[gentlemand]

Maybe sideways/down for a couple more months untill we have a breaktrough with the scaling debate

That's an extremely optimistic prediction for scaling timing. I don't think a great deal will happen for a lengthy time yet, if ever.

[york780]

Maybe sideways/down for a couple more months untill we have a breaktrough with the scaling debate

That's an extremely optimistic prediction for scaling timing. I don't think a great deal will happen for a lengthy time yet, if ever.

I am still in the denial phase. We must scale before december or we are all doomed.
When this wont happen we will wake up in a world where Ethereum will be n1 and bitcoin will be an old forgotten altcoin , litecoin 2.0
We must scale, and fast.
I dont want a premined 900 000 000 forked token to be n1

[JayJuanGee]

Maybe sideways/down for a couple more months untill we have a breaktrough with the scaling debate

That's an extremely optimistic prediction for scaling timing. I don't think a great deal will happen for a lengthy time yet, if ever.

Are you guys blind?

For almost the whole of 2017, BTC prices have been bouncing around a bit within a 30% range; however, they have largely been floating at the top of such range and in all time high territories for this whole freaking time.  I mean that it is quite amazing phenomenon to see, and likely not even precedented in bitcoin's history... usually the floating is not taking place and creating ongoing new ATHs (or at least in the top 50 days).

Whether we have more sideways now or down or up, you better snap out of it and take your naysayer naybombs of negativity blinders off and appreciate the times that we are in, no?

These are not negative times for bitcoin, even if folks are whining that bitcoin is broken and that some other cryptos are trying to squeeze into our lovely space by acting as if they are the saviors in jesus christ.  

[york780]

Positive in like a 2 months bearmarket?

[Ted E. Bare]

Are these the cheap weekend coins or what? Not much happened. Happy Easter all.

[gentlemand]

I am still in the denial phase. We must scale before december or we are all doomed.
When this wont happen we will wake up in a world where Ethereum will be n1 and bitcoin will be an old forgotten altcoin , litecoin 2.0
We must scale, and fast.
I dont want a premined 900 000 000 forked token to be n1

Perhaps that's the narrative that's been fed to you by the people who want to relieve you of your coins at a bargain price?

There'll be an ever increasing number of alt surges no matter what BTC gets up to. At some point people will need to let go of the idea that they're all elements of the same market and they're all competing.

The behaviour on Poloniex and elsewhere is so shameless now that I don't really pay much attention to it any more. A coin could easily sail past on 99% speculation. Bitcoin's probably still 95% itself.

I really hope some scaling does happen, but bigger blocks or Segwit by the end of the year feels like a major ask.

[york780]

I am still in the denial phase. We must scale before december or we are all doomed.
When this wont happen we will wake up in a world where Ethereum will be n1 and bitcoin will be an old forgotten altcoin , litecoin 2.0
We must scale, and fast.
I dont want a premined 900 000 000 forked token to be n1

Perhaps that's the narrative that's been fed to you by the people who want to relieve you of your coins at a bargain price?

There'll be an ever increasing number of alt surges no matter what BTC gets up to. At some point people will need to let go of the idea that they're all elements of the same market and they're all competing.

The behaviour on Poloniex and elsewhere is so shameless now that I don't really pay much attention to it any more. A coin could easily sail past on 99% speculation. Bitcoin's probably still 95% itself.

I really hope some scaling does happen, but bigger blocks or Segwit by the end of the year feels like a major ask.

Yes indeed. I miss the times where we just went on that beautifull bullrun from november to february. That was just beautifull. Everytime I woke up I was hurrying to grab my phone and see how much btc was increased. Now I wake up and everything is a red mess. I keep holding like a naive idiot lol. Just waiting till december where I expect that we will know if btc is doomed or ready to take the next step