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

[toknormal]

where have you got this from ?

when i check the charts at bitcoinwisdom (bitstamp weekly candles) there are 6 fat green candles in a row and the 7th is in the making.

Cryptowatch.

https://cryptowat.ch/bitstamp/btcusd

(Switch to 1W in the little pop-down menu at left end of top toolbar). They probably just have different reference days for the start of the week, so shows you it's really arbitrary whether we have 7 green candles or not.

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[Ted E. Bare]

Pretty sure those are candles for every 3 days.

[toknormal]

Pretty sure those are candles for every 3 days.

According to the menu it's the 1Week. The 3 day one looks like this:

[deepcolderwallet]

Pretty sure those are candles for every 3 days.

According to the menu it's the 1Week. The 3 day one looks like this:

This is EXACTLY the chart you posted before.

[toknormal]

****** Amber Alert ******

Draghi is live right now talking about the implication of "decentralised ledgers" and the "blockchain" on the Euro Central bank's role as central issuer for the Euro.

Talking about 'fragmentation of the payments system' that 'may affect the efficiency of transmission mechanisms of monetary policy'. He's trying to make it sound constructive saying 'fintech' can assist the role of the credit markets in expanding the economy.

http://www.zerohedge.com/news/2017-05-29/watch-live-draghi-speaks-euro-parliament-makes-case-more-easing

Lots of ominous sounding inuendo, not planting his flag on one side or another. "Appropriate regulatory responses" required to mitigate risks to customers.

[toknormal]

This is EXACTLY the chart you posted before.

Apologies. You were right - the first one was a 3 Day.

Now fixed, but still only 5 greens.

[Torque]

As for the other guy talking about metals, due to the seasonal aspect of the metals market, I believe July is usually the best month to buy, then the market tends to pump from August onwards.  If bitcoin was flat or down at that time, yea, it would be a good idea to dump bitcoin for metals.  Silver is closing in on a wedge that I believe is going to break upwards hard long before August, though.  They simply can't push them down much lower than they already are, and they definitely can't push platinum down any more (although I like silver better for the monetary Schelling point since platinum is not considered a monetary metal by most).

If it makes you feel any better r0ach, I did buy some silver the other day. Bought 20 oz at spot price. I agree that silver is highly undervalued right now if you look at historical charts. I didn't sell bitcoin to buy it though. Just had some extra money to put to it. Everyone should probably own a little PM. But imo the vast majority of your $$$ should be in BTC.

Gold otoh, I'm not so sure. Looking at historical chart, it could fall another $300 before it bottoms out. I'm sure it's being held down by the "invisible hand" as well. Fkn naked shorts.

[Dabs]

... I did buy some silver the other day. Bought 20 oz at spot price. I agree that silver is highly undervalued right now if you look at historical charts.

What kind of silver did you get? Coins? Bars? (bullion?) Thinking of getting some metals myself.

[toknormal]

I think he's alluding to the type of blockchain that lets bank do settlements. But those type of blockchains are better hosted on an SQL server.

[Torque]

... I did buy some silver the other day. Bought 20 oz at spot price. I agree that silver is highly undervalued right now if you look at historical charts.

What kind of silver did you get? Coins? Bars? (bullion?) Thinking of getting some metals myself.

2- 10oz bars. Easier portability and storage. Was thinking about maybe getting some coins at some point too, just for fun.

[bitserve]

I wonder how can someone call this "storage of value" and then claim Bitcoin isn't at all:

http://www.macrotrends.net/1470/historical-silver-prices-100-year-chart

[Richy_T]

2- 10oz bars. Easier portability and storage. Was thinking about maybe getting some coins at some point too, just for fun.

Coins make great presents so I end up giving them away. Need to buy some more. Especially with the price since I last bought.

[Richy_T]

Does anybody else keep getting posts deleted in this thread, some that were made months ago? Some kill joy is deleting all the rocket, moon, raining money gifs & pics I've made over time

Go to the Wall Observer thread over on bitco.in. No censorship and it could do with a bit of livening up.

It also has ChartBuddy.

I'm sure this will get censored too so PM inbound.

[yefi]

I remember when block space was cheap as chips. What's in store for those dApps when it's a buck a transaction? Am I missing something?

They'll most likely need off-chain computation to scale e.g. Truebit. However, if they're going to do second layer tech where Ethereum is just used for settlement, I don't see why you'd need Eth and its virtual machine at all. You could just as easily use Bitcoin surely (well, assuming we ever get Segwit).

me thinks this is a last attempt on a push down on the whole market..but this is a imo..a beartrap...

be smart, ignore this on all coins, hodl everything and you will be happier in a week +

dont risk losing a huge % gain by gambling for a small temp gain

The market is exploding with new users everyday, new exchanges...big ones opening very soon too

Agree. I Hodl.

[sidhujag]

Ok, people.  I'm tired of fucking around with ambiguous definitions:  Is bitcoin decentralized?  Does bitcoin have value? etc.  I have decided to address these issues from proof of work to proof of stake where a normal human can easily quantify if Bitcoin or any other cryptocurrency has value and whether it will live or die:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

It's relatively short to read, but if you want the TLDR version, my stance is that proof of stake has no value whatsoever and I explain why, and proof of work with ASIC is almost functionally the same thing (externalized proof of stake) in practice and would also have no value.  I don't think anyone will find a valid argument against this post.

I do not think you understand the meaning of decentralized. Bitcoin is only centralized logically which is desired. Politically and architecturally it is decentralized. You should be clear that you are arguing for the fact that you "think" it is not politically decentralized. You cannot argue it is not architecturally decentralized because that would simply not be true.

With that you should revisit your article and perhaps I will read it when it is well understood that the author understands the meaning of decentralization on which his whole argument is formed. Heh, you mention ambiguous definitions are tiresome yet you then go off and give assumptions and hypothesis' based on ambiguous definitions yourself.

You can't be serious.  You're basically making the argument that anything where someone has not double spent *YET* or *CONSTANTLY* is automatically decentralized.  That's not how this works.  You are not automatically proven to be decentralized with a functional Nash equilibrium until mass armageddon begins.  It is ironic that the ASIC factory sunk cost is the only reason there is not constant double spend, but those same ASICs also make the system inherently worthless and the equivalent of a closed entropy system at the same time.

The barrier of entry is low into asics as you can buy contracts and  im not sure how you arrived to your conclusion on the correct charcterizatiom based on double spends. You should work on your ambigious definitions first to figure out what argument you are trying to make clearly and then draw upon your hypothesis because of reason a b and c. I do not see that from your attempt.

[Spaceman_Spiff]

I hope that Segwit+2MB gets enough support to finally end this absurd war. At this time it looks as the only non contentious alternative. I don't like the idea of non unanimous hard forks, nor UASF. Whatever is supported by an almost unanimous majority is ok to me at this time (Well, except BU/EC as I am totally against it).

Seemed like a decent compromise to me. Core programmers snubbing it was disappointing.

Agreed, the total lack of ability to make a compromise, even one that doesn't seem to have big drawbacks is disappointing.

[JimboToronto]

Good morning Bitcoinland.

Missed a couple of days but we seem to be consolidating to a nice point... currently $2250USD (Bitcoinaverage).

I missed the bottom but I did manage to buy a bit more under $2000. Hopefully the correction is over and we can continue with the uptrend.

At least we finished the week in the green.

[toknormal]

Draghi's talk is looping back.

Just reaching the bit where he talks about "fintech & blockchains" now:

http://www.zerohedge.com/news/2017-05-29/watch-live-draghi-speaks-euro-parliament-makes-case-more-easing

EDIT: Too late. It's done, loop back in another 3 hours.

[toknormal]

"Peer to Peer lending platforms" will provide a boost to growth = Mr Draghi is saying TRST is heading to the moon.

[kurious]

I hope that Segwit+2MB gets enough support to finally end this absurd war. At this time it looks as the only non contentious alternative. I don't like the idea of non unanimous hard forks, nor UASF. Whatever is supported by an almost unanimous majority is ok to me at this time (Well, except BU/EC as I am totally against it).

Seemed like a decent compromise to me. Core programmers snubbing it was disappointing.

Agreed, the total lack of ability to make a compromise, even one that doesn't seem to have big drawbacks is disappointing.

So, no comment from anyone at Core at all.  Is it totally dead in the water?