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

[Odalv]

what I'd like to know is as infrastructure does develop, who of the early adopters holding larger amounts of coins will actively invest their own profits, fiat or bitcoin into developing it further, and how many will just wait and see, while hoping to grow "richer". How many will just simply wait to "make as much of it as (they) can"...

Early adopters has kept bitcoin alive 4 years (and gone retired(not all) :-) ).. now it is you who has to make next move.

[Coinseeker]

Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults.  Faith is necessary I get that but some of this stuff is just craziness.  The more I read these forums, the shorter Bitcoins lifespan becomes to me.  I''m currently at 2 years tops.  That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.  

I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.

lol

so what is the iTunes of crypto please?

Not sure, but my eyes are open.  

[Coinseeker]

Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults.  Faith is necessary I get that but some of this stuff is just craziness.  The more I read these forums, the shorter Bitcoins lifespan becomes to me.  I''m currently at 2 years tops.  That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.  

I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.

All new ideas attract some people who think the end of the world is nigh.  That doesn't change the fact that some new ideas are good ideas.  Bitcoin is a good idea in my opinion as it provides an effective alternative to fiat currency.  As such, it only takes a few dictators or billionaires to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.  

Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power.  If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.

So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.

You missed my point...Bitcoin is a GREAT idea and can absolutely work.  Unfortunately it's dominated by ideological nuts who ignore all logic and thus will do nothing to deal with the problems of the currency and will almost always flame anyone who even attempts to speak against the almighty Bitcoin.  It's just as easy for someone to pickup the idea and do it better.  Hence the Napster, iTunes reference.  Like I said crypto is awesome.  That can be Bitcoin or not.  Don't care as long as it's right and ready for the long run.  

I'm one of the new users you'd think you'd want on board but after ~ 2 months, I've gone from "what is this Bitcoin?", to "This is awesome honey, we've got to get involved!", to "I'm not even sure if Bitcoin will be alive in 2 years."  That has nothing to do with Bitcoin, it has to due with many of the "cult" like followers who poison the brand.

[Frozenlock]

t/a wise things are getting worse by the hour IMO

Mind to explain? In my book we broke upward the main triangle of doom.

[molecular]

Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults.  Faith is necessary I get that but some of this stuff is just craziness.  The more I read these forums, the shorter Bitcoins lifespan becomes to me.  I''m currently at 2 years tops.  That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.  

I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.

All new ideas attract some people who think the end of the world is nigh.  That doesn't change the fact that some new ideas are good ideas.  Bitcoin is a good idea in my opinion as it provides an effective alternative to fiat currency.  As such, it only takes a few dictators or billionaires to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.  

Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power.  If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.

So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.

I'm not sure, but maybe Coinseeker is talking about some iAltCoin? I'm not sure about this. Bitcoin has some problems, but a new coin that is substantially better is something that cannot be forced. It's one thing to make the best phone by innovating and doing things the right way (iPhone back in the days), but a genius innovation like bitcoin cannot be bought with money and good engineering.

If some altCoin comes along that really is substantially better (it's not amazonCoin, litecoin, ripple (ok, not a coin, but a competitor of sorts) or yaccoin afaik) then I will embrace it even if it means my bitcoin stash is worthless because it would mean we then have even better money at our disposal.

About early adopters sitting back, not using their stash and brain power to develop bitcoin infrastructure: I'm pretty sure they are very active. Who do you think these people are behind all the projects? Do you really think someone in the early days discovered the potential of bitcoin, acquired a huge stash and now is content to do some non-bitcoin related work or no work at all? I'd think he'd like to be part of this awesome piece of history. There might be exceptions, but I would guess the bulk of the early adopters are among us, helping the cause any way they can and trying to profit even more. Hell, maybe even Satoshi is still active (might be dpr as someone suggested, although I doubt it).

[phoenix1]

Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults.  Faith is necessary I get that but some of this stuff is just craziness.  The more I read these forums, the shorter Bitcoins lifespan becomes to me.  I''m currently at 2 years tops.  That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.  

I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.

what I'd like to know is as infrastructure does develop, who of the early adopters holding larger amounts of coins will actively invest their own profits, fiat or bitcoin into developing it further, and how many will just wait and see, while hoping to grow "richer". How many will just simply wait to "make as much of it as (they) can"...

I don't know much about ideological Napster cults, but I do know that they were onto something.


What bitcoin seems to be teaching the world is not "craziness", but yes, if it's not developed, and early adopters and those hoarding lots of coins do not actively participate in engaging with developing it's utility and infrastructure I can see it not lasting.

I know next to nothing about programming but I sense that it all needs a fair bit of work but this is not impossible. 


What would be interesting to see is that if it does only last "2 years", how the bitcoin will exchange, transfer or find new uses around that -end of lifespan- ... it's not like it can just drop dead.

For success IMO, big hoarders, over time, need to reduce their holdings so that it can become universally held. I am not saying they need to do it now at this price, just that for future stability, the influence of any one holder or collective must be reduced. Wasn't that the agenda ? A global decentralised  'currency' not subject to the whims of TPTB ? Or is the agenda to become the new PTB and control the new currency ?
The first can work ... the second will not IMO. I will go as far as to say I hope the second does not work
Does not really matter so much if they actively invest their profits in improving infrastructure ... it will be done if enough others are incentivised by having a piece of the pie and a shared vision.

[phoenix1]

it only takes a few dictators  to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.  

Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power.  If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.

So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.

That is the worst advert I ever heard for Bitcoin
"Roll up, roll up, profit from dictatorship here!"

I would rather be poor in your terms

[ChartBuddy]

[Coinseeker]

it only takes a few dictators  to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.  

Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power.  If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.

So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.

That is the worst advert I ever heard for Bitcoin
"Roll up, roll up, profit from dictatorship here!"

I would rather be poor in your terms

+1

"...But we hate banking and governmental corruption, that's why we love Bitcoin."  

[Jaques]

t/a wise things are getting worse by the hour IMO

Mind to explain? In my book we broke upward the main triangle of doom.

stoch
rsi
mac


but accu/distru looking fine as always
(thats why I am mid-term bull)

regarding that triangle;

it may have not been the predominant formation
and the volume breaking was not significant enough anyway
hence there was no consolidation above 120 much less it passed 125
(120/125 is high resistance zone)
so we may have seen a false break out if any

so we could be up for the second breakout, down this time
which also could be false, which wouldnt surprise me as the market loves to fool people

will be very interesting to observe volume at time of break and later turnaround

but this are just my two satoshis

[Frozenlock]

Weeeee, down we go!

[Coinseeker]

Free fall...

[Jaques]

Weeeee, down we go!

seen?


edit:

if 114 does not hold I would expect to see 106/107
at least that is ...

[Quantum_Negatum]

Might be an exciting weekend after all.

[Coinseeker]

Somebody better call Al-Assad and see if he wants to invest.  

[DavidBAL]

If I was short, I would be looking to take profits soonish. Lack of sell side depth would scare the shit out of me, this could be just a couple people dumping which would explain why there is no market power behind sell off.. bids aren't being cancelled, asks aren't being added to... What 3k btcs to move price back up $7? Don't see risk/reward payoff there

[Frozenlock]

If I was short, I would be looking to take profits soonish. Lack of sell side depth would scare the shit out of me, this could be just a couple people dumping which would explain why there is no market power behind sell off.. bids aren't being cancelled, asks aren't being added to... What 3k btcs to move price back up $7? Don't see risk/reward payoff there

I don't know... since yesterday I've witnessed sellers cashing out slowly.
Every time there's enough bids (~ 30 btc) upward of a round number... *sell*.

Also: BTC prices don't care about walls. 

[UltimateReaper]

The waters are still calm for now. We all aught to cherish these valuable moments.

[Bitcycle]

Could go either way from here, but down has a lot more resistance than up.  I wouldn't have gambled selling at 114, but a lot of people seemed to.

A lot of people have been waiting for coins at 112 or less. What if this dip goes up without hitting that level?

[Jaques]

114 on hourly chart being defended mainly by bots and small buys