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

[Torque]

Lol, I had a feeling the drop was coming as soon as all the news media sites started printing ATH headlines again.

http://www.cnbc.com/2017/05/04/bitcoin-surges-above-1500-to-record-as-more-investors-bet-on-digital-gold.html
http://www.businessinsider.com/bitcoin-price-blows-through-1500-for-the-first-time-2017-5

So typical.  

[bitebits]

Saying "alts" is like saying "Europe".  There is a vast difference between Paris and Pristina, between Aalborg and Athens.  While swaths may crash, swards may take flight.  But then (without checking) you [podyx] are probably a maximalist, in which case this won't make any sense to you.

Really? And what is the difference between Paris and Pristina?

The cheese.

Now I know there are people around thinking cheddar = cheese, and for those indeed there is no difference between Paris and Pristina.

[rjclarke2000]

A 24 hour red dildo it is for today then.

[Coinnosaurus]

Will today finish on a green dildo or a red dildo?

will the week finish on a red or green phallus , this is the question  

[ft73]

... Drops like a stone ...

Wait for 1400$ and buy ETH in the meantime  

[oda.krell]

I use bitcoin as my checking account [snip]

But that's your checking account strictly containing currency, not any money, riiight?

[toknormal]

cryptocurrency would get absolutely slaughtered in deflation compared to metals.

I don't get the logic of this.

The reason metals do sh*t these days is because their market has split (into a liquid paper on the one hand and illiquid physical on the other) and they've lost their original monetary function as a bearer token. That would be the case whether inflation or deflation prevailed.

A deflationary shock would presumably be the result either of widespread recession or some kind of credit crunch/mass default scenario without the usual central bank printing spree in response. In that case cryptos would do well due the fact that they're not debt-backed and therefore represent a safe destination for fleeing capital.

By what mechanics do you see them getting 'slaughtered' ?

[JimboToronto]

Still hasn't dipped enough for me to buy yet.

Under $1400 and I'm out the door.

[Ibian]

...so, boring, uneventful week, eh guys?

Yes. Share a pint of bleach with me, won't you?

[spooderman]

dammit, i think 1450 was the best we could have hoped for then i was expecting a bigger dip.

[ft73]

Let's rebound a bit.
let's say to 1540$ again ...

[JimboToronto]

A 24 hour red dildo it is for today then.

Don't be so sure about that. It's already back in the green.

[spooderman]

another leg down. really wanna buy back the stupid 2BTC i sold at $1k.

[ft73]

OK, badly drawn lines, yet you get the idea

[PoolMinor]

Who bought the dip? 

[ft73]

Who bought the dip?  

I bought something at 1449.99 $
Just 1 BTC to be fair.

[spooderman]

Who bought the dip? 

waiting for a bigger dip tbh. anything above 1350 is still above all ATHs barring the last 3 days or so

[leowonderful]

Interesting to note that altcoins are slowly going up in the green again. Nothing too big, if anything we could just rebound upwards a little bit and stay at around 1500. It's a shame price is still too high for me to justify buying but if it goes down further that could be a good idea.

[Ibian]

Okay so 1500 or so is officially the new floor. Jubilations and whatnot. I need a drink.

[lightfoot]

Are people concerned about a 1500 price? Good fucking lord, we are weird.

Personally I'm waiting for 1800 so I can kick myself for buying gold a year or two ago at 600 a coin. Sooooooo stooooopid.

C