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

[CoinCube]

has little utility value.

Bitcoin has massive utility value. It provides freedom to the user in the face of ever increasing capital controls implemented by the most powerful governments in the world.

Lots of hurdles to overcome before it will achieve mainstream adoption, but that's OK. I'm in for the long haul.

Bitcoin will never achieve "mainstream adoption". The average debt slave doesn't care about freedom.

1 - Explain how it provides freedom from capital controls any more than cold hard cash does? I have BTC and I have travelled pretty extensively, my BTC has been pretty much useless to me abroad. "Dirty fiat" i.e. USD cash money is accepted pretty much everywhere. This is not a criticism of BTC, it just illustrates that we are early in the game.

2 - I'm not a debt slave so I wouldn't know. I own my house and owe nothing to the bank or anyone else, so I guess I'm struggling to understand your point? You say that BTC provides freedom to the user, then say the avg debt slave doesn't care about freedom? I'm confused....
I'm sure any slave, debt or otherwise, has freedom at the front of mind.

The freedom Bitcoin provides is not primarily that of movement of capital as other forms of currency including fiat do this faster for mostly low cost. In fact one can argue that this was one of the main competitive advantages of fiat over metal currency.

The primary freedom bitcoin provides is freedom from centralized debasement of the medium of exchange which will increasingly dominate all global economies.

It also provides a secondary freedom against tyrannical governments interested in arbitrarily theft.  To seize your bitcoin as long as your are not careless one must physically force you to divest their keys. This is much more difficult then simply freezing a centralized bank account. It is also harder then simply raiding your home and taking your big stack paper dollars which are much more difficult to hide.  

[Torque]

So it's feeling like we're getting close to FUD time, yah? Y'know, the kind of FUD that comes out of left field, the kind that the dumpers use as their supposed "crash" reason.  

[kludzins]

RSI is pointless if BTC is about to go in overdrive. The trend is your friend.

Still RSI tells you good things.
At least it happened in past.
Look what happens after lines.

[European Central Bank]

https://www.reddit.com/r/BitcoinMarkets/comments/6asbqr/bitfinex_usd_withdrawals_update/

one time withdrawals for usd in bitfinex on the horizon. still no update on regular functionality.

[toknormal]

Worldwide malware bitcoin ransom attacks.

Clearly timed by gov-security services to give them a blank cheque to bring in huge new anti-bitcoin legislation

http://www.elperiodico.com/es/noticias/sociedad/ataque-informatico-masivo-infecta-las-grandes-empresas-espana-6033534

[bitebits]

https://breadwallet.com/blog/four-things-know-about-bitcoin-bubbles/

[Torque]

Worldwide malware bitcoin ransom attacks.

FUD right on time.  

[toknormal]

Markets unaffected.

[savetherainforest]

So it's feeling like we're getting close to FUD time, yah? Y'know, the kind of FUD that comes out of left field, the kind that the dumpers use as their supposed "crash" reason.  

The Dow seems like it wants to crash... and bitcoins looks like it is gonna explode. That money will try to get into gold, silver, bitcoin and other safe things that can't devalue or lose money.

[BlindMayorBitcorn]

How do you do it? Use margin? Constantly dump and try to buy back in?

lol, hell no. Money is in the alt game. With all the newbies flowing in, it's like a turkey shoot.

My most recent and final foray into altcoinlandia cost me .5 BTC on margin call. Who in their right mind thought ripple would go UP?!?! I'm pretty sure Polo has become self-aware and is just fucking with me.

[ft73]

Heading to 1680$ ( Bitstamp )

[Wekkel]

RSI is pointless if BTC is about to go in overdrive. The trend is your friend.

Still RSI tells you good things.
At least it happened in past.
Look what happens after lines.

A bit rude, but what I mean to say with that:

• Bitcoin is volatile; you don't get in to pick up pennies but to take an asymmetric bet with limited downside and very high upside
• so you rather add to positions in ferocious downturns than try to time the market for an intermediate top
• if Bitcoin does a 2011/2013 redux, you would miss the best gains
• seeing tops in RSI over the past does not mean knowing beforehand what the top will be (RSI could rise even further)
  

It is an indicator, but not more than that. If you're in it for the long play (the asymmetric bet) instead of day trading, it would be better to ignore it and just add to your position over time. Best sell indicator: if Bitcoin price doubles in 1 week  

RSI seems more useful in a long grind down during (multi-)year downtrends.

[york780]

Please sell your coins because bitcoin will die for sure this time. I will buy your bag. Dont worry about that.

[bitserve]

To buy or not to buy... That's the question.

[smracer]

Shake shake shake....

[jaberwock]

Less than $1700 on Bitstamp. I think now we can call a dip, don't?

What will be the floor?

[droizs]

Less than $1700 on Bitstamp. I think now we can call a dip, don't?

What will be the floor?

I think this is the dip, is a 200$ diff in 24h. We can only go one way now...

[BlindMayorBitcorn]

But...my dreams.  

[Coinnosaurus]

Less than $1700 on Bitstamp. I think now we can call a dip, don't?

What will be the floor?

only the god (and york) knows..

[ft73]

Well the break down from 1750$ with target < 1700$ was not hard to see actually ...