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

[micalith]

Price is going lower again
What happend?

Because the sheklers at Goldman Sachs told people to buy bitcoin with both hands, which means it's probably going to 12 cents:

http://www.zerohedge.com/news/2017-07-24/goldman-nervous-bitcoin-traders-be-patient-next-surge-will-take-it-above-3600

yup, lots of good news, so final chance of selling manipulation for buying 'cheap coin'

http://www.nasdaq.com/article/ledgerx-gets-us-approval-for-derivatives-on-digital-currencies-20170724-01338

Sounds huge!

Here as well

http://www.reuters.com/article/us-usa-cftc-digitalcurrency-idUSKBN1A92FZ

Yeah, but this was before I'd seen about the fork in Bitcoin. Wishful thinking with tin foil hat would be that the synchrony of the fork and the LedgerX are a conspiracy to create one last buying opportunity. Feet on the ground thinking would be that we're heading DOWN

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[marcus_of_augustus]

Did you mean those other useful idiots?

Have no idea what you're babbling about brother ... bitcoin's a level playing field for anybody who wants to run and smart enough to hide, they need to be quick or dead ... and anybody who wants to hunt needs to have a sharp eye or they go hungry. Math is the final arbiter for honesty in cryptography.

... and kind of sad to see a useful idiot for the central bank gold holdings pumping in a bitcoin forum. You seem really, really, lost.

[El duderino_]

ANALYSIS: WHY AUGUST 3rd?
(micgoossens's prediction game)

Preliminaries. (Remarks, confessions.)
Any attempts at analysis for dates so far in the future can't be based on TA in the sense of shoulders, cups and double inverted Batmans. Even if it were a full Cow-and-Shepherd (one of the longest TA patterns), it wouldn't start before July 31st. We know the thing with crypto timings: a stock market's week is worth around a crypto halfday. So the analysis must be based on purely qualitative reasoning, no graphs or stuff.

Honestly, I would have preferred to choose Aug 4th: the time frame I am picturing in my mind is one day longer than what I bet on. Well, I'll work with what I have.

The Analysis.
August 1st will be inconsequential. Y2K, if you see what I mean. However, a few weak hands could and probably will be shaken. What this means is that later, as the price starts to run up - gingerly at first - those who panic sold or missed out the discounts will queue up for more - at a, ehm, slightly higher price of course. I'm not sure about the timing after August 1st, but I liked the 4th because it's Friday. Saturday and Sunday is bull-uga party (dolphins are whales too, as we all know). However, Aug 4th was taken, so I had to settle on the 3rd. I guess the cetacea will have to drink their champagne before the weekend breaks. The timing wasn't that crystal clear in my mind anyway.

TL;DR.
Fear of Aug 1st dissipates slowly while the wounded lick their wounds. New week, new life starting on Friday Thursday.

Sounds Good 
Let see to 3th of August

[r0ach]

As opposed to the other useful idiots who hype blockchains where every transaction is traced and monitored - the ultimate Orwellian police state dream - while also helping in the banker's goal to eradicate cash from society so they can then control the remaining digital infrastructure and turn everyone into a slave instead of people just using gold and silver to defeat them?  Did you mean those other useful idiots?

Have no idea what you're babbling about brother ... bitcoin's a level playing field

A level playing field if you first purchase an ASIC from Jihan Wu, which allows Jihan Wu to build 10 ASIC of his own for each ASIC you buy from him?  This is fake news.

[David48l]

but it's about ensuring the network is de-centralised.  

I've seen all kinds of stupid explanations on these forums for what constitutes "decentralized".  The current bitcoin core explanation is basically "the ability to run a node".  Lol?  Then you got Adam and the 400 MB block gang who didn't even bother to come up with some type of poorly constructed defintion.  In reality, it's the ability for people to mine the coins directly which requires commodity off the shelf mining hardware - meaning the network is currently completely centralized.  Therefore, anyone who actually cares about decentralization would be campaigning for a PoW change to GPU, otherwise there's no reason for bitcoin to exist.

If everyone mined that would help de-centralise the network, however there is no PoW change that fixes the current one's problems.
GPU's, different algorithms, they all simply kick the centralisation problems a few months down the road. We need something new, but until that comes we are stuck with what we've got.

There's no reason for any common man off the street to support bitcoin unless he can mine it himself.  Supporting bitcoin at this juncture simply means helping Jihan Wu and a handful of other monopolies become richer.  Bitcoin would likely have already died if it wasn't for altcoins that could be mined then converted to BTC, otherwise the ecosystem would be entirely walled off.

But what do you say ?, what gives value to bitcoin is its usability, people buy as an investment and barely know how it works, you think they are going to put to mine? LOL. If bitcoin did not have core 4 and 5 dollar commissions many more stores would use it, more value, more people, more stores, the exponential price. But the core company is not interested

[bitebits]

[...] a 2mb hardfork seems pretty unlikely to take place in the coming couple of years [...]

Really? No.

[d_eddie]

As opposed to the other useful idiots who hype blockchains where every transaction is traced and monitored - the ultimate Orwellian police state dream - while also helping in the banker's goal to eradicate cash from society so they can then control the remaining digital infrastructure and turn everyone into a slave instead of people just using gold and silver to defeat them?  Did you mean those other useful idiots?

Have no idea what you're babbling about brother ... bitcoin's a level playing field

A level playing field if you first purchase an ASIC from Jihan Wu, which allows Jihan Wu to build 10 ASIC of his own for each ASIC you buy from him?  This is fake news.

Amidst tons of doubtful bearsh*t, here's a grain of truth from our c*ckroach. I wouldn't use the phrase "fake news" for that anyway, since it's not news but fact/opinion.

[d_eddie]

ANALYSIS: WHY AUGUST 3rd?
(micgoossens's prediction game)

(SNIP)
TL;DR.
Fear of Aug 1st dissipates slowly while the wounded lick their wounds. New week, new life starting on Friday Thursday.

Sounds Good 
Let see to 3th of August

Glad you like it 

[Redaxo]

What the hell is going on with the BTC again? Just dipped below 2600 ...?

[rjclarke2000]

I don't think I'm winning micro's ATH game.

[InvoKing]

What the hell is going on with the BTC again? Just dipped below 2600 ...?

The bitcoin price is lagging like hell. From almost $3000 to $1900 to $28xx and now around $2600. August 1 effect?
Reminder : control your coins people (have your private keys).

[B1tUnl0ck3r]

What the hell is going on with the BTC again? Just dipped below 2600 ...?

The bitcoin price is lagging like hell. From almost $3000 to $1900 to $28xx and now around $2600. August 1 effect?
Reminder : control your coins people (have your private keys).

let's see...



Contrary to the segwiters beliefs, it seems that the market would have preferred a 10mb block.

segwit sucks. One chain, 10mb, then when at 80% sustained capacity add one 0.

[YamashitaRen]

Bad day to try new trading strategy 

I'm just there looking at my 2653 long order, have absolutely no idea what to do with it °°

[Lontonbit]

Bcc panic setting in. Bcc is a total joke but of coarse everyone gets scared!

[yermom]

99% of this board is so clueless about economics and money it's absurd.  Here's the Syscoin dev earlier trying to pretend it's even possible for bitcoin to be fungible and why I have to explain to him why it's not

As of me, you're right. I know shit about economics compared to you. But I know about people.
And I hope you are using fine psychology tricks in order to get more people involved into this. Otherwise you're a piece of shit, and I know who your boss is.

There is no shilling required, only objective facts:

Cryptocurrency is not fungible by definition because it can be changed via power vacuum, while gold and silver are fungible because elements on the periodic table are immune to things like democracy or authoritarianism.

What is even smarter.......writing stories on Steemit and getting paid in cryptocurrency.  He gets cryptocurrency for his nonsense, and then comes here and tries to pretend that it has no value.

FACT: Your behaviour does not correspond with your words
Despite of the above, I respect your trolling action, at least with that account

[B1tUnl0ck3r]

Bad day to try new trading strategy  

I'm just there looking at my 2653 long order, have absolutely no idea what to do with it °°

it's only getting started... or not .

[Redaxo]

Bcc panic setting in. Bcc is a total joke but of coarse everyone gets scared!

This is the most stupid panic of all time. I mean they just need to hold their BTC or even buy more of them in order to get BCC. But selling them is actually the worst thing you can do right now.

[YamashitaRen]

@B1tUnl0ck3r
Yeah, that's the issue 
Guess I will just put a stop loss order a little under 2550, the one I should have put 80$ higher 

[savetherainforest]

i see r0ach is still as depressed as ever.

I'm curious how he will transfer me a kilo of gold off-World to Mars or Titan?? Eh??

He always takes out of context what I say... ... I didn't said bitcoin will be replaced by gold, but by another 'bitcoin', a better one that is more tending and attuning to perfection!

[Elwar]

Someone dumped 1000 BTC on Bitfinex which caught a few people in a long trap.