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

[Meuh6879]

More than 1 Billion par 24h ...

[Karpeles]

japan is the most cash heavy developed society. something like 85 per cent of transctions are cash.

it maybe means more future potential but there are other places more ready made.

maybe they see Bitcoin as some form of digital cash

also Bitcoin as investment would not be used for daily transaction

I don't think the japanese hold their savings in cash, they would devalue every day and could be easily stolen or destroyed in case of fire or something 

maybe they just don't like banks, so they prefer to use cash daily

[Meuh6879]

central bank in Japan buy all bonds.
people can only store cash or gold (per 100 grams).

problem : gold, like in india, is limited in supply (and safe box at home is an issue, too).
solution : bitcoin.

[JimboToronto]

Another fine good morning Bitcoinland. I see the controlled uptrend continues.

Despite two fairly decent corrections, one $50 and the other $60, we still managed to rise over $40 since I went to bed... currently $1732USD (Bitcoinaverage).

We also broke $2400CAD... a high of $2405 (Bitcoinaverage) and currently also $2405 according to Google. Another step up the ladder.

Another day another ATH. Can't wait until Dooglus updates his Top 20 Days thread.

[Cheaplightning]

japan is the most cash heavy developed society. something like 85 per cent of transctions are cash.

it maybe means more future potential but there are other places more ready made.

There's still potential in countries where the amount of digital transactions is higher - new digital transactions in Japan will be in fiat and will only transition to Bitcoin when it's convenient - in a few years probably, and a bit longer before it's significant (if it ever is).

Important things about Japanese adoption are:
-Japan often quick to adapt/create new technology
-People have a lot of savings
-Recent government acceptance

Yes and no.

People here have huge cash savings yes. The government has given approval yes.  
There are certain people here who love new tech and jump on it right away. But most people here are old and while I assume even older people here have higher adoption rates for tech overall compared to the west, there are still many many who are more traditional.

People here are really divided. Cash is king. There is still an almost complete lack of  widespread payment systems beyond cash.
Every salary man keeps about $1000 in their wallet. Often places will not accept even credit cards let alone debit cards let alone the less popular and competing mobile payment systems.

Every office still has and uses fax machines. I have some business with companies who refuse to accept email or require it to be faxed as well for a paper trail.
While I do not doubt bitcoin will become more and more popular here as it becomes more available. I do not agree with all the gushing love in these forums and the media that Japan will suddenly be investing a billion dollars it will be a huge boom.

[lightfoot]

I wouldn't be surprised if a lot of them were getting paid to shill. I really wouldn't. The depths of deceit that penny stock whale traders will go to holds no bounds. Just go watch 'Wolf of Wall Street' again.

I highly recommend the book "Trust me, I'm lying" written by Ryan Holiday who was the marketing guy at Amer Apparel. When it comes to social manipulation he is unto a God.

Likewise, The Big Con from the 30's, an excellent work on how con games go. I wonder how many people have opened up their big bitcoin store....

[leowonderful]

Another fine good morning Bitcoinland. I see the controlled uptrend continues.

Despite two fairly decent corrections, one $50 and the other $60, we still managed to rise over $40 since I went to bed... currently $1732USD (Bitcoinaverage).

We also broke $2400CAD... a high of $2405 (Bitcoinaverage) and currently also $2405 according to Google. Another step up the ladder.

Another day another ATH. Can't wait until Dooglus updates his Top 20 Days thread.

Corrections are to be expected, can't have huge rises in price without some sort of correction, that said, we are still in the green so nothing to worry about short term. I wouldn't be disappointed after the great run we've had recently. Still HODLing like usual.

[Nagadota]

japan is the most cash heavy developed society. something like 85 per cent of transctions are cash.

it maybe means more future potential but there are other places more ready made.

There's still potential in countries where the amount of digital transactions is higher - new digital transactions in Japan will be in fiat and will only transition to Bitcoin when it's convenient - in a few years probably, and a bit longer before it's significant (if it ever is).

Important things about Japanese adoption are:
-Japan often quick to adapt/create new technology
-People have a lot of savings
-Recent government acceptance

Yes and no.

People here have huge cash savings yes. The government has given approval yes.  
There are certain people here who love new tech and jump on it right away. But most people here are old and while I assume even older people here have higher adoption rates for tech overall compared to the west, there are still many many who are more traditional.

People here are really divided. Cash is king. There is still an almost complete lack of  widespread payment systems beyond cash.
Every salary man keeps about $1000 in their wallet. Often places will not accept even credit cards let alone debit cards let alone the less popular and competing mobile payment systems.

Every office still has and uses fax machines. I have some business with companies who refuse to accept email or require it to be faxed as well for a paper trail.
While I do not doubt bitcoin will become more and more popular here as it becomes more available. I do not agree with all the gushing love in these forums and the media that Japan will suddenly be investing a billion dollars it will be a huge boom.

True.  Adoption doesn't happen overnight, I realise that, and I also realise that people say things as if it's the country Japan instead of some people in it.

However, trading volume with the yen has been soaring recently, which makes it reasonable to think that a lot of the price rise has come from Japan.

Very few merchants actually accept Bitcoin.  The fact that it can be traded so easily with such a low amount of adoption is what makes the price a lot higher than the amount that people will ever intend to spend, but Bitcoin can be viewed as an asset as well so it's not completely to do with what Japanese merchants do, more to do with whether people buy it.

[york780]

As I am out and about most days I look at the CoinDesk app price and it says $1717.

Just looked at coin market cap and it says $1828!!

What's the best iOS app to keep an eye on the price?

I don't even know the cost of 1 bitcoin anymore!!

Most people go by BitStamp buddy. This really is gentlemen right now. Another 3-4 years to go until our lives will be made.

I will be a made guy :-)

[Watershin]

Hello wall observers.

There is no bubble, and no big correction incoming.
We known that Japan is known as maybe the most digital society in the world, and we all know they save too much of their earnings, at the point the excessive savings become a problem because people just invest and don't consume stuff. And the April a certain law recognizing Bitcoin as a legal currency and valid investment has been approved, so will be easier and safer for people in Japan invest their large savings in Bitcoins.

Currently there are around 2M of bitcoiners around the world at most, and Japan's population is around 130M. If 10% of the Japanese invest in Bitcoin, then price will rise about 10x due to Japan alone, considering they put the same amount of money in Bitcoin as the current Bitcoin hodlers, but they have the resources to put much more than the current average.

So keep hodling, there is no reason for the price to fall in the long run, and plenty for a big rise.

The japanese are already adopting Bitcoin faster than expected

https://bitcointalk.org/index.php?topic=1907978.0

Nice post!
Thanks for the information and by reading this I now believe more in bitcoin. Previously I was thinking that this would be another bitcoin bubble and it will crash soon and now you have changed my view.

[Wekkel]

I will be a made guy :-)

Drommels 

[blade87]

Moral of 2017 - don't ever sell your Bitcoin. One day, people may look at anyone involved with Bitcoin before 2017 as the early adopters. Japan's effect on the price has been impressive and it has just barely started. I once thought $10K was crazy, but in a world where Bitcoin is pretty well accepted, I now believe that number is actually quite small. Even at $10K - Bitcoin is still worth significnatly less than Amazon, Apple, Facebook, or etc.

[Kramerc]

Sell your bitcoins, they said.

NOPE.

[AlexGR]

I once thought $10K was crazy, but in a world where Bitcoin is pretty well accepted, I now believe that number is actually quite small. Even at $10K - Bitcoin is still worth significnatly less than Amazon, Apple, Facebook, or etc.

Exactly. High numbers are only impressive due to low number of total coins. Factoring that there are just 16 million coins, the price is actually pretty low.

[BrewMaster]

how many more times does the price have to rise up before some people start believing that bitcoin is still super cheap!
each time we have a rise ($300, $400, $600, $1000, $1500,... $2000,...) they say "i can't afford to buy bitcoin", "it is in a bubble", "i will wait to buy when it came down", "it will fall",... and then it goes up another $100 and they start repeating themselves.

so when is it going to change? at $10K!

[bartolo]

Bitcoin above $2000 at South Korea exchanges, $1799 acording Coinmarketcap, 1729 at Bitstamp. Adoption growing, more money in the markets and traders selling altcoins to invest profits into Bitcoin. And all this with the scalability debate still pending. Bitcoin is still in a good upward trend.

[keithers]

wow, pretty exciting that we have crossed the $1750 mark.  In this past month you could have pretty much made a dart board of nearly every crypto currency and thrown a dart at the one to invest in and doubled your money.

[savetherainforest]

It should be perfectly clear to everybody that all the money made from altcoins are now coming back to poppa.

The only one which could rise up again tomorrow seems ltc after segwit.

remember everybody will want to cashout after winning on alts

I just like to sit silent and read the comments after of months of "pump"  enthusiasm!

I just need a break!!!... I'm tired... ... I'm just gonna sip from my vodka with a pasta/macaroni straw and read the comments!    


But until new comments appear... lets remember and not forget the pretty numbers of history :

[Paashaas]

I once thought $10K was crazy, but in a world where Bitcoin is pretty well accepted, I now believe that number is actually quite small. Even at $10K - Bitcoin is still worth significnatly less than Amazon, Apple, Facebook, or etc.

Exactly. High numbers are only impressive due to low number of total coins. Factoring that there are just 16 million coins, the price is actually pretty low.

$100.000 will be the new $1000.

[2017Bubble]

okcoin pumping above 10000 yuan