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

[Iranus]

Hey, have a look at the one month period of this lovely chart.

When Bitcoin falls, alts mostly fall as well because they're traded against BTC.  The amount that they fall is amplified by the fact that SegWit is potentially imminent on BTC and that the market cap tends to be smaller.

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[BlindMayorBitcorn]

This is disappointing. ETH is actually sucking us down with her.

[megashira1]

LTC gets segwit = +400%
Random shitcoin gets segwit = +300%
BTC going to get segwit = -20%

[gentlemand]

LTC gets segwit = +400%
Random shitcoin gets segwit = +300%
BTC going to get segwit = -20%

The non BTC Segwit pumps were all about them becoming 'Bitcoin killers' as the daddy didn't have it.

I'm not sure how much traders actually care about scaling so the price effects may be underwhelming despite how important it is. And we're still not 100% sure in what form it's going to be implemented.

[YourMother]

Anyone notice this thread has 1/10th the traffic of past rises and dumps?  I think this is a sign of the fact that there's no reason for cryptocurrency to exist unless you can create an ASIC proof algo where coins can be mined on commodity hardware, or constantly change the algo to defeat them.  Without doing that, the draught of new people coming in signals the date of ASIC creation as the start of the coin's eventual death.  If this thread is any indicator of the system at large, Bitcoin is like a brown dwarf star running on fuel from a prior era.  

The only thing keeping it going at all is that some PoW altcoins are used as proxies for new people to occasionally enter.  Those altcoins are generally only profitable to mine during bull runs, so it also has the side effect of making bubbles larger and bear markets even more bearish.  This phenomenon is why you always see proof of stake coins wither and die like clockwork as well.

Look, scumbag! It was fun to troll Bitcoin, but back in 2013-2015 during all the bans, the fud and the panicked bears, not now after a 10x growth in price and userbase. The reason why Bitcoin is not worth over $200k right now is because of the ignorance of the masses. You are witnessing a world changing protocol, which time and time again has proved its security and robustness, that is about to decentralize everything that can be decentralized, and whose network value is not even half of Bill Gate's fortune at this moment.

If the low income people weren't buying bitcoins because they thought that they were part of a ponzi scheme, now they aren't buying because they cannot afford 1 Bitcoin. Now you have to inform them that they can buy quantities less than 1 bitcoin and that it's still worth it, but that's pretty damn hard. (tried it)

This is the last chance that these poor fucks have, because a few months/years from now a full bitcoin will be hardly affordable even for the high income group. And it will keep on going up until only the rich bastards will be able to hoard it and actually make a considerable profit out of it.

[doc12]

Anyone notice this thread has 1/10th the traffic of past rises and dumps?  I think this is a sign of the fact that there's no reason for cryptocurrency to exist unless you can create an ASIC proof algo where coins can be mined on commodity hardware, or constantly change the algo to defeat them.  Without doing that, the draught of new people coming in signals the date of ASIC creation as the start of the coin's eventual death.  If this thread is any indicator of the system at large, Bitcoin is like a brown dwarf star running on fuel from a prior era.  

The only thing keeping it going at all is that some PoW altcoins are used as proxies for new people to occasionally enter.  Those altcoins are generally only profitable to mine during bull runs, so it also has the side effect of making bubbles larger and bear markets even more bearish.  This phenomenon is why you always see proof of stake coins wither and die like clockwork as well.

Look, scumbag! It was fun to troll Bitcoin, but back in 2013-2015 during all the bans, the fud and the panicked bears, not now after a 10x growth in price and userbase. The reason why Bitcoin is not worth over $200k right now is because of the ignorance of the masses. You are witnessing a world changing protocol, which time and time again has proved its security and robustness, that is about to decentralize everything that can be decentralized, and whose network value is not even half of Bill Gate's fortune at this moment.

If the low income people weren't buying bitcoins because they thought that they were part of a ponzi scheme, now they aren't buying because they cannot afford 1 Bitcoin. Now you have to inform them that they can buy quantities less than 1 bitcoin and that it's still worth it, but that's pretty damn hard. (tried it)

This is the last chance that these poor fucks have, because a few months/years from now a full bitcoin will be hardly affordable even for the high income group. And it will keep on going up until only the rich bastards will be able to hoard it and actually make a considerable profit out of it.

+1 nice writeup.

Anyway this guy (roach) is a fucking nazi racist antisemitic motherfucker, people with such a mindset are wrong and rotten to the core.

[luckygenough56]

we are still on the rising tube

just hoping it's not some sort of asymetric head and shoulders, which would be very droppy, would give a correction to 1800ish

looking at the past bitcoin rises, there's always quite a massive correction after the peak, so a drop looks pretty obvious to me but hey it's bitcoin.

[bitebits]

The fix is in folks. It looks like a lot of bitcoin users have discovered this great currency called the dollar and are buying it all up. I heard that this dollar thing has a feature where it is made from paper. Bitcoin doesn't have that. Should we upgrade to get more users?

Brilliant, thanks. Why are we here again?

[r0ach]

Anyone notice this thread has 1/10th the traffic of past rises and dumps?  I think this is a sign of the fact that there's no reason for cryptocurrency to exist unless you can create an ASIC proof algo where coins can be mined on commodity hardware, or constantly change the algo to defeat them.  Without doing that, the draught of new people coming in signals the date of ASIC creation as the start of the coin's eventual death.  If this thread is any indicator of the system at large, Bitcoin is like a brown dwarf star running on fuel from a prior era.  

The only thing keeping it going at all is that some PoW altcoins are used as proxies for new people to occasionally enter.  Those altcoins are generally only profitable to mine during bull runs, so it also has the side effect of making bubbles larger and bear markets even more bearish.  This phenomenon is why you always see proof of stake coins wither and die like clockwork as well.

Look, scumbag! It was fun to troll Bitcoin, but back in 2013-2015 during all the bans, the fud and the panicked bears, not now after a 10x growth in price and userbase. The reason why Bitcoin is not worth over $200k right now is because of the ignorance of the masses. You are witnessing a world changing protocol, which time and time again has proved its security and robustness, that is about to decentralize everything that can be decentralized, and whose network value is not even half of Bill Gate's fortune at this moment.

LOL What a load of shit.  You just typed a few pages ago how you spammed this forum with "bear trolling" under alternate usernames fucking with everyone trying to get them to dump in the past.  Now you're caught on the wrong side of the trade and don't want anyone saying the price might go down.  This head and shoulders collapse was so obvious whoever got caught in it shouldn't be trading in the first place.  I even posted it here for you all to see.  

And no, bitcoin is not better than gold and silver.  Gold and silver are money and everything else is credit.  Bitcoins are imaginary coupons you hope someone else will service in exchange for goods and services at a future date.  This makes them unsecured liabilities.  With a real commodity currency like gold and silver, it doesn't matter if you can find nobody to service your coins, you still have the actual  coins themselves which have usage in industry and other things, meaning you're never left holding the bag because there's always some type of use for them (especially silver).

Antonopolous propaganda claiming bitcoin is better than metals doesn't actually work against people who know anything about economics.

[SaintFlow]

I managed to short the drops to increase my hodling by 2%.
And if I smell another drop i might do it again, yet I would
really hate to have to do that, because eventually I will be overrun
by more bulls resurging.

I think with new month new cash the situtation we are in might change

[luckygenough56]

euro is the new cool coin

[European Central Bank]

heads up shitcoin fans - free stellar for bitcoin holders here - https://www.stellar.org/lumens/bitcoin-lumen-program/

if you're feeling a little down then claim this, dump it and buy yourself something nice.

[Dabs]

Something satoshi said a few years ago, which may be relevant to some people out there and in here:

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

[luckygenough56]

heads up shitcoin fans - free stellar for bitcoin holders here - https://www.stellar.org/lumens/bitcoin-lumen-program/

if you're feeling a little down then claim this, dump it and buy yourself something nice.

am too lazy to even bother

[kludzins]

Lol so much btc maximalists haven't seen for ages  
Looks funny to watch 

This is wall observer not shitcoin mentioning thread 

[BiteMyShinyMetalAss]

This is disappointing. ETH is actually sucking us down with her.

Its clearly a masculine gender, so him*!!!

[keithers]

With this slight recent pull back in both bitcoin and ethereum, I expect a lot of the "new money" or casual investors who aren't used to the volatility to panic sell off the bitcoin they may have bought near $3,000 and the ethereum they bought near $400 which in the short term may push prices down a little further.

This would mean cheaper coins for the rest of the people that are still here for the long haul.

[leowonderful]

Still waiting for cheaper coin atm- not a horrible time to buy up right now, but I suspect many are waiting for sub-2000 like I am if that occurs to buy up.

heads up shitcoin fans - free stellar for bitcoin holders here - https://www.stellar.org/lumens/bitcoin-lumen-program/

if you're feeling a little down then claim this, dump it and buy yourself something nice.

Shitcoin as you said, it will be dumped pretty quickly and will be worth nothing. Too much work for a small reward, but hey, it IS free money after all.

[r0ach]

This would mean cheaper coins

cheaper coins

cheaper coins

I've never once heard this phrase before!  Only in bitcoin is it considered good no matter if the price goes up or down...

[bitserve]

heads up shitcoin fans - free stellar for bitcoin holders here - https://www.stellar.org/lumens/bitcoin-lumen-program/

if you're feeling a little down then claim this, dump it and buy yourself something nice.

Fuck, I forgot to move some of my Bitcoin to my wallet to take advantage of it. Somehow I thought it was going to be in July before the Byteball airdrop.

Anyway, thanks for the advice!