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Question: In September, Bitcoin will go to:
The Moon - 72 (28.2%)
Mars - 23 (9%)
Pluto - 11 (4.3%)
Alpha Centauri - 47 (18.4%)
Hell - 102 (40%)
Total Voters: 255

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 19083548 times)
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Qartada
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April 21, 2017, 05:37:07 PM

What we can see though is that this is unnatural growth and it's not going to keep going.  It's going to fall soon enough.

Nonsense. Wishful thinking will get you nowhere.

I'm sorry you missed the chance to buy while they were in triple digits.

It's not too late to get them while they're still cheaper than ounces of gold.

Haven't we been hearing this since before $300?

Sour grapes and all...
You've taken it out of context.  I didn't mean to imply that Bitcoin would fall so dramatically that it wouldn't recover, that it would fail or even that we're moving into a bear market.  I was just saying that when there's growth this quick with no serious positive events to cause it, it's reasonable to think that at the very least there will be a serious correction before it keeps moving forward.

Bitcoin is in a bull market but that doesn't mean there haven't been giant fluctuations in that time.
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April 21, 2017, 05:47:36 PM

This has some btc context. Seq witness is a done deal on LTC.

http://www.coindesk.com/litecoin-miners-back-plan-support-segwit-blockchain-upgrade/


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April 21, 2017, 05:56:16 PM

OK, I might've misunderstood your post but there is no such thing as "unnatural growth", except after a significant top is in, and there are no new buyers coming into the market. Throughout this entire rally there hasn't yet been that moment when people on the wrong side of the market are simply left behind. And that moment that makes lots of newcomers rush to the eco-system, looking to buy everything and anything they can get their hands on.

Did you sell at $800 during the rally to $1140? Had the chance to rebuy at the same price during the dump to $780. Sold at any price during the run-up to $1350? Didn't matter, you could buy in the dump to $890. Market still hasn't "punished" people that want to buy but are too greedy and want to wait for lower prices.

I expect this to happen, sooner rather than later.
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April 21, 2017, 05:57:15 PM

What we can see though is that this is unnatural growth and it's not going to keep going.  It's going to fall soon enough.

Nonsense. Wishful thinking will get you nowhere.

I'm sorry you missed the chance to buy while they were in triple digits.

It's not too late to get them while they're still cheaper than ounces of gold.

Haven't we been hearing this since before $300?

Sour grapes and all...
You've taken it out of context.  I didn't mean to imply that Bitcoin would fall so dramatically that it wouldn't recover, that it would fail or even that we're moving into a bear market.  I was just saying that when there's growth this quick with no serious positive events to cause it, it's reasonable to think that at the very least there will be a serious correction before it keeps moving forward.

Bitcoin is in a bull market but that doesn't mean there haven't been giant fluctuations in that time.

Again more nonsense and back tracking.

Of course, a correction can happen at any time, yet we have already had two fairly significant corrections on the way up from $600.. and another correction is not a necessary condition, as you seem to be asserting based on your suggestion that we are in a bubble or an overly inflated price situation.. .. which you seem to be hoping for down rather than preparing for more up..   Either can happen, of course, but don't over-prepare yourself for down when it might not happen..
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April 21, 2017, 06:21:37 PM

OK, I might've misunderstood your post but there is no such thing as "unnatural growth", except after a significant top is in, and there are no new buyers coming into the market. Throughout this entire rally there hasn't yet been that moment when people on the wrong side of the market are simply left behind. And that moment that makes lots of newcomers rush to the eco-system, looking to buy everything and anything they can get their hands on.

Did you sell at $800 during the rally to $1140? Had the chance to rebuy at the same price during the dump to $780. Sold at any price during the run-up to $1350? Didn't matter, you could buy in the dump to $890. Market still hasn't "punished" people that want to buy but are too greedy and want to wait for lower prices.

I expect this to happen, sooner rather than later.

Wow.. great point.  The punishment point.   Wink
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April 21, 2017, 06:39:15 PM

Happy days, the price is creeping up. Whilst nothing overly exciting (long term) a successful assault on $1300 would feel good.

As for BFX, they've had so many problems over the last year or two. I have no idea why people were still willing to leave bitcoin's or USD there. So many warnings but people continued to use them. Fuckinh stupid if you ask me.

Interestingly, bitfinex's determination to fix their problems (bfx tokens) makes them come across as honestly trying. Why would an exchange suddenly act maliciously and fleece everybody, when they have worked hard to make up for their past technical and financial issues? Then again, Gox had (and tried to fix?) problems before the big heist.

When you play with fire, you can get burnt. You can also cook a great steak.
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April 21, 2017, 06:51:42 PM

Happy days, the price is creeping up. Whilst nothing overly exciting (long term) a successful assault on $1300 would feel good.

As for BFX, they've had so many problems over the last year or two. I have no idea why people were still willing to leave bitcoin's or USD there. So many warnings but people continued to use them. Fuckinh stupid if you ask me.

Interestingly, bitfinex's determination to fix their problems (bfx tokens) makes them come across as honestly trying. Why would an exchange suddenly act maliciously and fleece everybody, when they have worked hard to make up for their past technical and financial issues? Then again, Gox had (and tried to fix?) problems before the big heist.

When you play with fire, you can get burnt. You can also cook a great steak.


I have been pondering this a bit too.

My dollar situation on Bitfinex is a bit strange.

In August 2016, just like everyone else who held value on Bitfinex, about 36% of my value on Bitfinex was socialized into BFX tokens, and over about 7 months those BFX tokens were slowly reimbursed.. maybe around 10% of them were reimbursed into dollars between September 2016 and March 2017, even though bitcoin prices doubled during that time.

So, yeah there ended up being opportunity costs to have had value tied up in BFX tokens, but then April 3, Bitfinex reimbursed 100% of all of the then outstanding BFX tokens, which caused my account to have a larger percentage of dollars in the account.

Thereafter, when the bank account drama developed and therefore BTC price disparities, it became less feasible to buy bitcoins with dollars on Bitfinex because the price of bitcoins on Bitfinex turned into about a 5-8% premium.

And, again the price disparity that conveniently came after they had redeemed all BFX tokens seems like another opportunity for insiders on Bitfinex to game the system.

Sure, I don't really want to read malice into coincidences and/or incompetence, but sometimes the longer that the disparity exists, the more opportunities seem to exist for insiders to exploit and make appearances as one thing when other things are going on (isn't that smoke and mirrors?).
 
I guess that I am saying that the situation can become a bit more irritating, when you might hold value there and then you recognize these little ways in which your value is potentially being undermined and/or manipulated in ways that are really difficult to prove.

Again, I am not really much of any kind of conspiracist, but these coincidental disparities continue to cause concerns.
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April 21, 2017, 07:01:38 PM

I was just saying that when there's growth this quick with no serious positive events to cause it, it's reasonable to think that at the very least there will be a serious correction before it keeps moving forward.

I don't see Bitcoin's recent growth as being quick. I see it as slow and fairly steady.

It's been correcting itself as it goes along. Today is a good example. After breaking $1250 it pulled back $10.

I also don't think it needs any reason for growth other than the natural continued adoption worldwide and the pre-planned scarcity that was programmed into it.

Bitcoin is neither over-bought nor overvalued. If anything it is oversold due to the fiat transfer crisis at Finex leading to the dumping of coins on other exchanges
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April 21, 2017, 07:04:45 PM

Wall spotted, BitStamp. 1k bid at spot.

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April 21, 2017, 07:36:08 PM

This is very weird.

It's the first time that, being so close to ATH, the thread is not full of rocket pictures and moon posts... In fact, I haven't seen any.

Bullish?
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April 21, 2017, 07:37:21 PM

I think that bitcoin is simply walking the way it went going before rumors about the possible hardfork stopped its scale for some time.
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April 21, 2017, 07:40:46 PM

This is very weird.

It's the first time that, being so close to ATH, the thread is not full of rocket pictures and moon posts... In fact, I haven't seen any.

Bullish?

Its a really good development. Everytime we post rockets here it caused bad luck and we crashed. Dont post any rockets or we are doomed
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April 21, 2017, 08:09:58 PM

This is very weird.

It's the first time that, being so close to ATH, the thread is not full of rocket pictures and moon posts... In fact, I haven't seen any.

Bullish?


Well it seems people are getting used to that price level. Cheesy
For pictures of rocket launches or bitcoin heading moon I think we will need a new ATH or some short crazy upwards spike!
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the next 5 years are critical.


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April 21, 2017, 08:20:30 PM

This is very weird.

It's the first time that, being so close to ATH, the thread is not full of rocket pictures and moon posts... In fact, I haven't seen any.

Bullish?


Well it seems people are getting used to that price level. Cheesy
For pictures of rocket launches or bitcoin heading moon I think we will need a new ATH or some short crazy upwards spike!

Anyway I posted this yesterday tho  Cheesy

I want to believe


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April 21, 2017, 08:21:21 PM

could be bitfinex a new mtgox pump?

I don't see any pump yet.
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April 21, 2017, 09:00:27 PM

could be bitfinex a new mtgox pump?

I don't see any pump yet.
Currently, the price on Bitfinex is 1323 USD.  The price on Bitstamp is 1242 USD and the price on BTC-E is 1235 USD, even though BTC-E is having problems with fiat deposits as well.

There's a huge pump already, and it's only going to get bigger.
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April 21, 2017, 09:02:51 PM

Currently, the price on Bitfinex is 1323 USD.  The price on Bitstamp is 1242 USD and the price on BTC-E is 1235 USD, even though BTC-E is having problems with fiat deposits as well.

There's a huge pump already, and it's only going to get bigger.

that's not a pump. that's the symptom of exchange dysfunction.
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April 21, 2017, 09:16:07 PM

For the love of Adam, please Bitfinex get to $1337 before you pull back.

(I speculate that is hopefully the moment we will see our OP back in it's true form)
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April 21, 2017, 09:26:54 PM

Happy days, the price is creeping up. Whilst nothing overly exciting (long term) a successful assault on $1300 would feel good.

As for BFX, they've had so many problems over the last year or two. I have no idea why people were still willing to leave bitcoin's or USD there. So many warnings but people continued to use them. Fuckinh stupid if you ask me.

Interestingly, bitfinex's determination to fix their problems (bfx tokens) makes them come across as honestly trying. Why would an exchange suddenly act maliciously and fleece everybody, when they have worked hard to make up for their past technical and financial issues? Then again, Gox had (and tried to fix?) problems before the big heist.

When you play with fire, you can get burnt. You can also cook a great steak.


I have been pondering this a bit too.

My dollar situation on Bitfinex is a bit strange.

In August 2016, just like everyone else who held value on Bitfinex, about 36% of my value on Bitfinex was socialized into BFX tokens, and over about 7 months those BFX tokens were slowly reimbursed.. maybe around 10% of them were reimbursed into dollars between September 2016 and March 2017, even though bitcoin prices doubled during that time.

So, yeah there ended up being opportunity costs to have had value tied up in BFX tokens, but then April 3, Bitfinex reimbursed 100% of all of the then outstanding BFX tokens, which caused my account to have a larger percentage of dollars in the account.

Thereafter, when the bank account drama developed and therefore BTC price disparities, it became less feasible to buy bitcoins with dollars on Bitfinex because the price of bitcoins on Bitfinex turned into about a 5-8% premium.

And, again the price disparity that conveniently came after they had redeemed all BFX tokens seems like another opportunity for insiders on Bitfinex to game the system.

Sure, I don't really want to read malice into coincidences and/or incompetence, but sometimes the longer that the disparity exists, the more opportunities seem to exist for insiders to exploit and make appearances as one thing when other things are going on (isn't that smoke and mirrors?).
 
I guess that I am saying that the situation can become a bit more irritating, when you might hold value there and then you recognize these little ways in which your value is potentially being undermined and/or manipulated in ways that are really difficult to prove.

Again, I am not really much of any kind of conspiracist, but these coincidental disparities continue to cause concerns.

As for bfx tokens, bitfinex could have taken a big hit if bitcoin crashed hard and stayed down, so it seems they were a bit fortunate in that regard.

Otherwise, it does seem like they make a mistake/oversight, and then go about a practical way of solving it that doesn't prioritize integrity. That is to say, they take no issue in exploiting a hairy circumstance that they incidentally created.

In the meantime, bitfinex users have only one hope:

"Swiper no swiping! Swiper no swiping! Swiper no swiping!"
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April 21, 2017, 09:34:02 PM

This is very weird.

It's the first time that, being so close to ATH, the thread is not full of rocket pictures and moon posts... In fact, I haven't seen any.

Bullish?


We're nowhere near an ATH. We're over $100 away.

Surely you're not counting Bitfinex. Their price means nothing. Haven't you been following the news about their bank transfer woes?
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