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

[Icygreen]

Perhaps the move this weekend is a slow drain on alts and eth/btc instead of a btc dump, looks possible, what do you think?

[HI-TEC99]

I'd call this a bad sign. This same kid's story got trotted out at the height of the last bubble in 2013. Along with the story of a EU guy that found bitcoin on an old hard drive that he paid $27, then at the time in 2013 they were suddenly worth $886k. I think the news said he bought a condo or something.
http://www.maxkeiser.com/2013/10/man-buys-27-of-bitcoin-forgets-about-them-finds-theyre-now-worth-886k/

These kinds of stories I call the "sucker" stories, that get trotted out by the MSM so that the fence sitters finally cave and invest into Bitcoin right into a bubble and eventual downturn.

Stay wary my friends.

And no, I'm not trolling. I'm a permabull still 90% in who has been through these Bitcoin cycles before, and have seen how this market works.  Remember, the MSM is no friend to Bitcoin.

Re-buy at $200 then we can start all over again?

You never know. ETH went through a flash crash. There's always the chance that real Satoshi (if it is indeed one person and not a foundation) dies and the estate will have to liquidate to pay the estate taxes. (If Satoshi is a citizen of one of the countries that imposes such ridiculous taxes. US citizen would be bad. Japanese citizen would be even worse.) People forget that we have Satoshi's massive holdings hanging over our heads. Maybe Satoshi would never destroy his creation, but do you really think a government is going to care if they crash the market or not when demanding their estate taxes?

FUD
 

Super cheap coins!  That would inevitably be a short term crash and at this point, those coins would get eaten immediately. After said event, massive confidence would return to the market with the new distribution. The only thing that could destroy bitcoin is people finding no real use for it any longer. For now that is certainly not happening.

We already had a small experience of that type of scenario with the US government Bitcoin auctions. Bitcoin survived and is worth ten times what it was at the time of the auctions. Satoshi's coins aren't enough to destroy Bitcoin, the project is now too big for that.

[BlindMayorBitcorn]

Idaho teenager becomes millionaire by investing $1,000 gift in Bitcoin - and wins bet with his parents

http://www.telegraph.co.uk/news/2017/06/24/idaho-teenager-became-millionaire-investing-1000-gift-bitcoin/

Wow I'd missed this!!  That's the dream!

This can happen in every tech revolution. I was kicked out of college in the 80's for blowing up all of the vaxes by mistake (oops) and went into this project called Athena. Made far more money at that and had a far more fun time than if I had graduated with Cobol and been stuck as a programmer for 20 years.

Always keep an eye out for the odd stuff and give it a try. Flooze was odd but stupid. Bitcoin was odd but technically sound. Thus bitcoin is a good place to check out.

What you all seem to be missing is that this smarmy shithead now feels totally justified in not pursing a higher education. A decade from now that will be just another putz who thinks he's got the world all sussed out because he doesn't know any better.

[BlindMayorBitcorn]

But I digress.

[bones261]

I'd call this a bad sign. This same kid's story got trotted out at the height of the last bubble in 2013. Along with the story of a EU guy that found bitcoin on an old hard drive that he paid $27, then at the time in 2013 they were suddenly worth $886k. I think the news said he bought a condo or something.
http://www.maxkeiser.com/2013/10/man-buys-27-of-bitcoin-forgets-about-them-finds-theyre-now-worth-886k/

These kinds of stories I call the "sucker" stories, that get trotted out by the MSM so that the fence sitters finally cave and invest into Bitcoin right into a bubble and eventual downturn.

Stay wary my friends.

And no, I'm not trolling. I'm a permabull still 90% in who has been through these Bitcoin cycles before, and have seen how this market works.  Remember, the MSM is no friend to Bitcoin.

Re-buy at $200 then we can start all over again?

You never know. ETH went through a flash crash. There's always the chance that real Satoshi (if it is indeed one person and not a foundation) dies and the estate will have to liquidate to pay the estate taxes. (If Satoshi is a citizen of one of the countries that imposes such ridiculous taxes. US citizen would be bad. Japanese citizen would be even worse.) People forget that we have Satoshi's massive holdings hanging over our heads. Maybe Satoshi would never destroy his creation, but do you really think a government is going to care if they crash the market or not when demanding their estate taxes?

FUD
 

Super cheap coins!  That would inevitably be a short term crash and at this point, those coins would get eaten immediately. After said event, massive confidence would return to the market with the new distribution. The only thing that could destroy bitcoin is people finding no real use for it any longer. For now that is certainly not happening.

We already had a small experience of that type of scenario with the US government Bitcoin auctions. Bitcoin survived and is worth ten times what it was at the time of the auctions. Satoshi's coins aren't enough to destroy Bitcoin, the project is now too big for that.

And we didn't really return to a strong bull market until after those pesky auctions were out of the way? Correct?

[European Central Bank]

And we didn't really return to a strong bull market until after those pesky auctions were out of the way? Correct?

not really.

the first one had some short term panic preyed upon by all the usual asshole fudsters.

after that everyone realised there was no effect because professional financiers weren't gonna spend millions to dump on yobit.

whoda thunk it?

[Torque]

What you all seem to be missing is that this smarmy shithead now feels totally justified in not pursing a higher education. A decade from now that will be just another putz who thinks he's got the world all sussed out because he doesn't know any better.

Eh, I'm not sure I entirely agree. I would say yes and no.

Yes in general you should pursue a higher education, as in putting forth much effort to get it, as your life will be better off with it.

But how you get it and what you should be paying for it is up for debate. He's correct in that a lot of education can be found now online, or through other private sources. Most colleges now teach and impart information that is either a) woefully out of date and/or b) useless in the practical real world. And you'll end up paying a ridiculous amount of money for that.

The one thing I would encourage young people to do is achieve their higher education while spending as *little* money (debt) as possible for it. It's all about ROI. I believe the ROI for an expensive college education is no longer there, unless it is a specialist degree (i.e., doctors, lawyers, PharmDs, MBAs, etc.).

It's pretty telling when the U.S. Government considers the $1.3T in student loan debt on it's balance sheet as an "asset", which now makes up 37% of it's supposed "assets". That means that they are the business of issuing student loan debt whether or not the student makes enough in their career to pay it back in a timely manner. They now want to saddle people with student loan debt that'll take decades to repay, much in the same way they want to saddle you forever with a mortgage.

[BlindMayorBitcorn]

On second thought, this kid is clearly the future.

https://youtu.be/UU4lBqtfC60

[HI-TEC99]

I'd call this a bad sign. This same kid's story got trotted out at the height of the last bubble in 2013. Along with the story of a EU guy that found bitcoin on an old hard drive that he paid $27, then at the time in 2013 they were suddenly worth $886k. I think the news said he bought a condo or something.
http://www.maxkeiser.com/2013/10/man-buys-27-of-bitcoin-forgets-about-them-finds-theyre-now-worth-886k/

These kinds of stories I call the "sucker" stories, that get trotted out by the MSM so that the fence sitters finally cave and invest into Bitcoin right into a bubble and eventual downturn.

Stay wary my friends.

And no, I'm not trolling. I'm a permabull still 90% in who has been through these Bitcoin cycles before, and have seen how this market works.  Remember, the MSM is no friend to Bitcoin.

Re-buy at $200 then we can start all over again?

You never know. ETH went through a flash crash. There's always the chance that real Satoshi (if it is indeed one person and not a foundation) dies and the estate will have to liquidate to pay the estate taxes. (If Satoshi is a citizen of one of the countries that imposes such ridiculous taxes. US citizen would be bad. Japanese citizen would be even worse.) People forget that we have Satoshi's massive holdings hanging over our heads. Maybe Satoshi would never destroy his creation, but do you really think a government is going to care if they crash the market or not when demanding their estate taxes?

FUD
 

Super cheap coins!  That would inevitably be a short term crash and at this point, those coins would get eaten immediately. After said event, massive confidence would return to the market with the new distribution. The only thing that could destroy bitcoin is people finding no real use for it any longer. For now that is certainly not happening.

We already had a small experience of that type of scenario with the US government Bitcoin auctions. Bitcoin survived and is worth ten times what it was at the time of the auctions. Satoshi's coins aren't enough to destroy Bitcoin, the project is now too big for that.

And we didn't really return to a strong bull market until after those pesky auctions were out of the way? Correct?

The price crashed at the time of some auctions, but pumped about the time of the other ones. Although it's true we didn't get a strong bull market until after they all finished, there were other factors holding the price down.

We had Gox, China bans Bitcoin, the Bitstamp hack, the Bitfinex hack, etc. Every time the price started to go up another disaster crashed it. Besides all that Bitcoin had pumped from $2 to over $1000. It was due a correction after those gains.

The price has languished for so long now that new disasters don't seem to affect it a much. Maybe it's due to go up simply because it's been languishing.

[yefi]

What you all seem to be missing is that this smarmy shithead now feels totally justified in not pursing a higher education. A decade from now that will be just another putz who thinks he's got the world all sussed out because he doesn't know any better.

As opposed to a putz with a diploma? What was it Ambrose Bierce said, that education reveals to the wise and conceals to the foolish their lack of understanding?

p.s. It's not a purse, it's European!

[bones261]

The price crashed at the time of some auctions, but pumped about the time of the other ones. Although it's true we didn't get a strong bull market until after they all finished, there were other factors holding the price down.

We had Gox, China bans Bitcoin, the Bitstamp hack, the Bitfinex hack, etc. Every time the price started to go up another disaster crashed it. Besides all that Bitcoin had pumped from $2 to over $1000. It was due a correction after those gains.

The price has languished for so long now that new disasters don't seem to affect it a much. Maybe it's due to go up simply because it's been languishing.

The price has languished? Relative to what?   I suppose one could say a bullet "languishes" when compared to a photon. Over 250% increase since the beginning of the year? Pretty incredible to me. I still have a hard time grasping how something with such a high yield could possibly be a safe "store of value."

[gentlemand]

What you all seem to be missing is that this smarmy shithead now feels totally justified in not pursing a higher education.

I left education at 16. I can make Stephen Hawking sniff my bunions while Neil DeGrasse Tyson touches his own toilet area just by looking imperiously at them.

[lightfoot]

What you all seem to be missing is that this smarmy shithead now feels totally justified in not pursing a higher education. A decade from now that will be just another putz who thinks he's got the world all sussed out because he doesn't know any better.

I guess I can come off as a smarmy shithead, however living in gutters and sleeping on RP06 drives for a few years was shall we say educational.

We'll see where he goes, but higher education is not always what it is cracked up to be. Sometimes it's just another way to become a debt slave for 20+ years.

YMMV.

[rytyr]

What you all seem to be missing is that this smarmy shithead now feels totally justified in not pursing a higher education.

I left education at 16. I can make Stephen Hawking sniff my bunions while Neil DeGrasse Tyson touches his own toilet area just by looking imperiously at them.

I had a good laugh at this little life story.
Thanks for this in a time of great volatility of the bitcoin market price in the last couple of days.
It is always welcomed in times like this.

[HI-TEC99]

The price crashed at the time of some auctions, but pumped about the time of the other ones. Although it's true we didn't get a strong bull market until after they all finished, there were other factors holding the price down.

We had Gox, China bans Bitcoin, the Bitstamp hack, the Bitfinex hack, etc. Every time the price started to go up another disaster crashed it. Besides all that Bitcoin had pumped from $2 to over $1000. It was due a correction after those gains.

The price has languished for so long now that new disasters don't seem to affect it a much. Maybe it's due to go up simply because it's been languishing.

The price has languished? Relative to what?   I suppose one could say a bullet "languishes" when compared to a photon. Over 250% increase since the beginning of the year? Pretty incredible to me. I still have a hard time grasping how something with such a high yield could possibly be a safe "store of value."

The long period where the price languished between $200 to $300 was what I was mostly referring to. It's only become exceptionally bullish since the start of this year when it broke the ATH. I'm hoping that within another year we get a 1000% increase on today's price.

[bones261]

The price crashed at the time of some auctions, but pumped about the time of the other ones. Although it's true we didn't get a strong bull market until after they all finished, there were other factors holding the price down.

We had Gox, China bans Bitcoin, the Bitstamp hack, the Bitfinex hack, etc. Every time the price started to go up another disaster crashed it. Besides all that Bitcoin had pumped from $2 to over $1000. It was due a correction after those gains.

The price has languished for so long now that new disasters don't seem to affect it a much. Maybe it's due to go up simply because it's been languishing.

The price has languished? Relative to what?   I suppose one could say a bullet "languishes" when compared to a photon. Over 250% increase since the beginning of the year? Pretty incredible to me. I still have a hard time grasping how something with such a high yield could possibly be a safe "store of value."

The long period where the price languished between $200 to $300 was what I was mostly referring to. It's only become exceptionally bullish since the start of this year when it broke the ATH. I'm hoping that within anther year we get a 1000% increase on today's price.

I hope so too.  However, I always prepare for the worst and hope for the best. 

[r0ach]

It's only become exceptionally bullish since the start of this year when it broke the ATH. I'm hoping that within another year we get a 1000% increase on today's price.

BTC is topped out for a long time IMO.  My post from exactly one year ago looks like it just about ran it's entire maximum range:

[Torque]

So you're saying... there's a chance that we'll see $9K on the next bull run!  

[Icygreen]

I'm not sure a back test of those levels are entirely needed. Why do I think so?  Bitcoin received acceptance from fortune 500"s to mom and pop shops plus many new developments during the climb to support its value changes.
Bitcoin as a whole is just starting to be understood by the early majority for its potentials beyond an early adopters investment vehicle.  Its clear that the people want it but also have fear. If fear wins we go back to a prescribed debt bubble banking system and wait for that to show more results.  I think we'll follow above the trend line given the gravity of development. Imagine the feeding frenzy if it went to 1100 

[orpington]

what? moar cheap coins?!

arise chikun!