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

[moooonu]

Blockchain is been overload with around 100k unconfirmed transactions. Btc price is been up more than what it was expected. All altcoins are going high too. Is it going to be age of altcoins or are they going to collapse soon?

[bankpower]

Blockchain is been overload with around 100k unconfirmed transactions. Btc price is been up more than what it was expected. All altcoins are going high too. Is it going to be age of altcoins or are they going to collapse soon?

This is what I'm trying to understand too...some say that alts will grow up exponentially together with Bitcoin, some others say that alts will collapse together with inflated Bitcoin, where is the truth? Nobody knows

[Cassius]

Blockchain is been overload with around 100k unconfirmed transactions. Btc price is been up more than what it was expected. All altcoins are going high too. Is it going to be age of altcoins or are they going to collapse soon?

This is what I'm trying to understand too...some say that alts will grow up exponentially together with Bitcoin, some others say that alts will collapse together with inflated Bitcoin, where is the truth? Nobody knows

People think all alts are the same because they can't be bothered to look more closely and figure out the difference, like watching a herd of penguins and claiming they can't tell them apart.
Truth is some penguins will sink, others will fly, based on their individual merits.
This isn't the best analogy, but you get the general point.

Edit: https://www.youtube.com/watch?v=9dfWzp7rYR4

[bankpower]

Blockchain is been overload with around 100k unconfirmed transactions. Btc price is been up more than what it was expected. All altcoins are going high too. Is it going to be age of altcoins or are they going to collapse soon?

This is what I'm trying to understand too...some say that alts will grow up exponentially together with Bitcoin, some others say that alts will collapse together with inflated Bitcoin, where is the truth? Nobody knows

People think all alts are the same because they can't be bothered to look more closely and figure out the difference, like watching a herd of penguins and claiming they can't tell them apart.
Truth is some penguins will sink, others will fly, based on their individual merits.
This isn't the best analogy, but you get the general point.

Edit: https://www.youtube.com/watch?v=9dfWzp7rYR4

LOL best answer ever

[spooderman]

200 BTC sell wall on finex

[CoinHoarder]

Blockchain is been overload with around 100k unconfirmed transactions. Btc price is been up more than what it was expected. All altcoins are going high too. Is it going to be age of altcoins or are they going to collapse soon?

This is what I'm trying to understand too...some say that alts will grow up exponentially together with Bitcoin, some others say that alts will collapse together with inflated Bitcoin, where is the truth? Nobody knows

People think all alts are the same because they can't be bothered to look more closely and figure out the difference, like watching a herd of penguins and claiming they can't tell them apart.
Truth is some penguins will sink, others will fly, based on their individual merits.
This isn't the best analogy, but you get the general point.

Edit: https://www.youtube.com/watch?v=9dfWzp7rYR4

I pretty much agree with this. With the exeption of one threat... the entire Alt coin ecosystem could be undermined by Bitcoin sidechain Alt Coin sidechain implementations. I am still on the fence whether it is a real threat or not. If it is, it will be a long term threat. The Alt bubble might burst soonish, but they will recover and they aren't going anywhere in the near term.

[JayJuanGee]

i simply cannot wrap my brain around this action among the seeming chaos of the scaling issue. to judge by the talk, we should, at best, be stable, not climbing. Yet here we are, record highs.

i really am kicking myself over those 10 coins i sold to my brother for $1000. total. :| at the time, that was the price... heck, i think i actually did it in my favor by a percent or two. argh.

and then there's the 15 or so coins i spent on games and other crap... ugh.

Nothing wrong with spending or selling..

But you are probably indicating that you spent or sold and then you did not replace --- gotta replace when spending.


Now, at these prices, hm?  I might spend and replace just 2/3 of them.. but no matter what gotta consider what portion to replace... even if it is only 20%

You are probably overthinking here... My guesstimate is that Elwar only spent/sold around 1-3% of his holdings, maybe even less than that.

Are you referring to Arkian, rather than Elwar?  

I am not referring to anyone in specific, instead I am referring to a practice of considering your replacement of coins that you spend.  Of course if the price is high, and you spend, your replacement considerations are going to be different as compared to when the price is low.... but we do not always know if the price is high or if the price is low, so our replacement plan might be more aggressive or less aggressive depending on our own perception and views.

For example, I recall a couple of things that occurred with a person who I had been introducing to bitcoin from about upper $300s.  If you recall the price was in the upper $300s in late 2014, and I was thinking that was pretty much the bottom, and I introduced several people to bitcoin, and a couple of people took me up on my suggestion, but got a bit frustrated when the price went down during 2015, and I recall that one person had paid me in bitcoin when the price was $228, and I told that person that she better replace her bitcoins, and even though she was disheartened about bitcoin, luckily she took my suggestion and replaced because the price never returned to that level.  

Similar things can be true at any price, whether spending at $228 or $1000 or $1842 or any other price - when you spend your bitcoin, you should be considering your replacement plan.

[JessicaG]

It is a mistake to publicly share details like this. It increases the chance of theft.

I'm sure he knows what he's doing. It's probably a peach tree that was hit by an airliner and it's on his aunt's land. Misdirection is the first line of protection.

It's so easy to safeguard private key(s) through misdirection; just hide them in a personal image from your dog or something, and store that one between your other personal photos. You could even upload that to a cloud or whatever other online service in a shielded environment, and still be very safe even if you got compromised; no hacker is interested in stealing personal pictures of your pet... Unless, the hacker would be really reaeaeaeally paranoid that is off course 

[Zicore47]

It is a mistake to publicly share details like this. It increases the chance of theft.

I'm sure he knows what he's doing. It's probably a peach tree that was hit by an airliner and it's on his aunt's land. Misdirection is the first line of protection.

It's so easy to safeguard private key(s) through misdirection; just hide them in a personal image from your dog or something, and store that one between your other personal photos. You could even upload that to a cloud or whatever other online service in a shielded environment, and still be very safe even if you got compromised; no hacker is interested in stealing personal pictures of your pet... Unless, the hacker would be really reaeaeaeally paranoid that is off course  

Screw you, now every hacker everyone knows where to find my private keys

[kludzins]

Very tastefull cup of coffee

coffee? how about espresso with 5 shots:

https://www.tradingview.com/chart/BTCUSD/VqrLQuby-Russian-Doll-five-nested-cup-and-handle-pattern/

[bitserve]

i simply cannot wrap my brain around this action among the seeming chaos of the scaling issue. to judge by the talk, we should, at best, be stable, not climbing. Yet here we are, record highs.

i really am kicking myself over those 10 coins i sold to my brother for $1000. total. :| at the time, that was the price... heck, i think i actually did it in my favor by a percent or two. argh.

and then there's the 15 or so coins i spent on games and other crap... ugh.

Nothing wrong with spending or selling..

But you are probably indicating that you spent or sold and then you did not replace --- gotta replace when spending.


Now, at these prices, hm?  I might spend and replace just 2/3 of them.. but no matter what gotta consider what portion to replace... even if it is only 20%

You are probably overthinking here... My guesstimate is that Elwar only spent/sold around 1-3% of his holdings, maybe even less than that.

Are you referring to Arkian, rather than Elwar?  

I am not referring to anyone in specific, instead I am referring to a practice of considering your replacement of coins that you spend.  Of course if the price is high, and you spend, your replacement considerations are going to be different as compared to when the price is low.... but we do not always know if the price is high or if the price is low, so our replacement plan might be more aggressive or less aggressive depending on our own perception and views.

For example, I recall a couple of things that occurred with a person who I had been introducing to bitcoin from about upper $300s.  If you recall the price was in the upper $300s in late 2014, and I was thinking that was pretty much the bottom, and I introduced several people to bitcoin, and a couple of people took me up on my suggestion, but got a bit frustrated when the price went down during 2015, and I recall that one person had paid me in bitcoin when the price was $228, and I told that person that she better replace her bitcoins, and even though she was disheartened about bitcoin, luckily she took my suggestion and replaced because the price never returned to that level.  

Similar things can be true at any price, whether spending at $228 or $1000 or $1842 or any other price - when you spend your bitcoin, you should be considering your replacement plan.

For some reason I thought you were replying to the Elwar message, now I see I got confussed. Probably due to the emotion of watching the little pump

Anyway... What I meant is that if someone has already finished their accumulation process there is probably no reason to keep putting more eggs into the Bitcoin basket and, some spending is reasonable even if not "refilled".

I mean, lets say someone who has 500BTC, at current rate almost 1 million dollar, but doesn't have any other significant liquid holdings (fiat, stocks, etc). Well, diversification tells he shouldn't put more eggs into the Bitcoin basket. If it rises up, great, it's not that important that he spend some on the road, if it crashes... better he did spent some.
Also, as a person without much other significant holdings or excess income he wouldn't be able to increase significantly his current holding anyways (at current rates).

If someone is yet in the accumulation phase, then yes, he should probably replace if it is feasible for him, but that doesn't need to be done inmediately. Maybe in the next correction (even if it is higher than actual price).

Yes we can remember how things evolved in the past, what we did and what we could have done.... My first two BTC I bought them for 100Euro in total using paypal. I wish I had bought much more at that price but... that's nonsense, it's the same is if we wish to have bought a lottery ticket after knowing which number was the winner.

For me, I will probably stop completely my accumulation phase when Bitcoin grows to the point that it has the same total value as my liquid FIAT. Then I will probably also stop spending from my FIAT and start spending from my BTC. If that ever happens (maybe before 2020 if everything goes according to the plan). Also, if that happens, I expect my BTC to keep growing above my FIAT holding from that point on, even if spending from it (and not replacing anymore).

For that reasons, I can perfectly understand if someone in particular has already reached a point in which he is now better spending from BTC and not replacing it.

Notice how I say (moderately) spending from instead of selling/going all out.

[iqlimasyadiqa]

Blockchain is been overload with around 100k unconfirmed transactions. Btc price is been up more than what it was expected. All altcoins are going high too. Is it going to be age of altcoins or are they going to collapse soon?

Of course we should avoid this, we must provide a larger fee in sending bitcoin. Many transactions are delayed due to the small amount of fee entered. This is the only way we can do it. While in my opinion do not try to trade altcoin, we better focus on bitcoin. Because the bitcoin is currently experiencing excellent movement. We can take considerable profit.

[CoinCube]

People think all alts are the same because they can't be bothered to look more closely and figure out the difference, like watching a herd of penguins and claiming they can't tell them apart.
Truth is some penguins will sink, others will fly, based on their individual merits.
This isn't the best analogy, but you get the general point.

Edit: https://www.youtube.com/watch?v=9dfWzp7rYR4

LOL best answer ever

That video 

[600watt]

People think all alts are the same because they can't be bothered to look more closely and figure out the difference, like watching a herd of penguins and claiming they can't tell them apart.
Truth is some penguins will sink, others will fly, based on their individual merits.
This isn't the best analogy, but you get the general point.

Edit: https://www.youtube.com/watch?v=9dfWzp7rYR4

LOL best answer ever

That video 

yep, alts taking off with about the same probability. 

[BTCtrader71]

... the entire Alt coin ecosystem could be undermined by Bitcoin sidechain Alt Coin sidechain implementations. I am still on the fence whether it is a real threat or not.

That's an interesting question. If we could find a way to make mining truly decentralized, then it would be a greater threat. As things now stand, there are advantages to multiple chains, one of them being as a means to sidestep the Jihans of the world.

[European Central Bank]

I pretty much agree with this. With the exeption of one threat... the entire Alt coin ecosystem could be undermined by Bitcoin sidechain Alt Coin sidechain implementations.

hell no. apart from a few crazies the only reason people care about alts is to make more btc. bitcoin could fulfil literally everything any alt that will ever exist could do and people would still feed the alt frenzy. it's never stopping no matter what.

[Torque]

I pretty much agree with this. With the exeption of one threat... the entire Alt coin ecosystem could be undermined by Bitcoin sidechain Alt Coin sidechain implementations.

hell no. apart from a few crazies the only reason people care about alts is to make more btc. bitcoin could fulfil literally everything any alt that will ever exist could do and people would still feed the alt frenzy. it's never stopping no matter what.

It will stop when people who buy alts begin to realize that they are being taken. Most alts are simply penny stock PnDs, others are ICOs so basically people crowdfunding the dev salaries to work on something that will likely go nowhere or get absorbed into other projects. Not to mention the fact that most are fully pre-mined, POS, or both.

Most people including Satoshi and the original devs didn't even know if Bitcoin would even function and thrive at first. Bitcoin launched with the most genuine, most humble, and the least nefarious of intentions. As far as devs go, there was no thought of anyone trying to become wealthy or trying to dominate any kind of market. That's the essence of what makes it trust-able.

For everything that came after, can anyone really say the same? A: Nope.

[600watt]

HODL your MOON SANDWICHES, GENTLEMEN



edit:

[European Central Bank]

It will stop when people who buy alts begin to realize that they are being taken. Most alts are simply penny stock PnDs, others are ICOs so basically people crowdfunding the dev salaries to work on something that will likely go nowhere or get absorbed into other projects. Not to mention the fact that most are fully pre-mined, POS, or both.

Most people including Satoshi and the original devs didn't even know if Bitcoin would even function and thrive at first. Bitcoin launched with the most genuine, most humble, and the least nefarious of intentions. There was no thought of anyone become wealthy or trying to dominate any kind of market. That's what makes it trust-able.

For everything that came after, can anyone really say the same? A: Nope.

those are noble sentiments but filthy greed overrides everything else. now that crypto is starting to take off we ain't seen nothing yet in terms of shamelessness.

if shit like onecoin can thrive then anything even slightly more legitimate will always excite people. if it's cheap and hyped enough they'll fall for the patter that it's the next bitcoin.

[JimboToronto]

A splendid good morning ladies and gentlemen of Bitcoinland.

Another day, another ATH, another correction and consolidation... currently $1846USD (Bitcoinaverage).

Seems to be forming a nice bullish pennant, preparing for the next leg up.

We all know this can't go on forever. There's bound to be a more substantial correction eventually. The questions are when and how deep.

Now that we're trading over $2500CAD according to all major indexes, I'd jump all over any dip below $2000 as a buying opportunity.

I can't believe I'm actually looking at two grand as a bargain basement price.  

Go Bitcoin go.