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

[aesma]

There is a joke around here about buying a boat. I think I'm the butt of that joke. My father is a sailing fanatic that had to sell his sailboat a couple of years ago. Made him very sad. He had saved some money to buy a new (used) one, but not enough to buy it before the summer. I loaned him about 2BTC in early June with fiat I had planned to use to buy the dips. I knew I was going to probably lose on this, it's a free loan anyway, but I didn't think it would be quite that much. The 2BTC could now almost buy the whole boat !

At least my father is happy, there is that.

[marcus_of_augustus]

There is a joke around here about buying a boat.

is this code for you wondering if you need a bigger boat?

[jojo69]

Hey guys, I'm trying to load the charts for Bitfinex but I keep getting a 4404 error.

[Elwar]

I will likely move to Tahiti next year and will likely live on a boat.

[ErisDiscordia]

I will likely move to Tahiti next year and will likely live on a boat.

I just finished reading this article, where they mention the seastead at Tahiti.

Nice synchronicity. I'll come visit you when Bitcoin hits 23K$

[aesma]

There is a joke around here about buying a boat.

is this code for you wondering if you need a bigger boat?

Ah ah one of my favorite yachts, I wish I could afford it !

[Lauda]

Bitstamp | Total bids: 54677514 USD. Total asks: 2655 BTC. Ratio: 20591.36425 USD/BTC. | Data vintage: 0.0167 seconds

But yeah, sell because of the ICO ban kool-aid drinkers.

I will likely move to Tahiti next year and will likely live on a boat.

Do you have room for a cat?

[AlexGR]

While we're talking about speculative articles, what do you think about this?

Dear Crypto, You’re Being Played By Wall Street
https://medium.com/@JesseLivermore/dear-crypto-youre-being-played-by-wall-street-35a1117ef859

I'll tell you right now... Take the part which I've underlined as an example:

Here we are. Dalia Blass is named Director of the SEC’s Division of Investment Management on August 31 and we just saw a massive rally again. But now there’s no more hype machine to get the Crypto-sphere going, PLUS it’s time for the new SEC Director to ‘put up or shut up’ and anything other than immediate ETF approval means immediate dumping of Crypto.

BTC has gone from nothing to 5k without any ETF. All the delays and rejections never halted its progression. All the scenarios that BTC would dump due to ETF-denial have failed in the long-run... Why? Because this kind of thinking is too american-centric, in a sense that everything revolves around what the US does. It doesn't. BTC is global. The BTC equivalent is the global gold market, not a wall street stock or US-based security. Countries may allow or ban gold buying for periods of time, but the effect is always absorbed by a global market.

[aesma]

I will likely move to Tahiti next year and will likely live on a boat.

Do you have room for me ?

Tahiti is one possible destination for me too, being French no immigration hassle, I would keep my social security etc.

[fluidjax]

This is Robert J. Smilers definition of a bubble, from https://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2013/shiller-lecture.pdf

"A situation in which news of price increases spurs investor enthusiasm which spreads by psychological contagion from person to person, in the process amplifying stories that might justify price increase and bringing in a larger and larger class of investors, who, despite doubts about the real value of the investment, are drawn to it partly through envy of others’ successes and partly through a gambler’s excitement."

Its interesting to note that his definition says nothing about the underlying truths or value of the asset. By this definition alone I think Bitcoin could be called a bubble, the problem is that the definition doesn't mention anything about the true value, just perception, and we all know that Bitcoin newbies struggle to put a real value on Bitcoin as there are no decent real world analogies.

[eXpl0sive]

What, we broke 4500 and nobody is posting anything?  I guess we're getting used to it.

[olseh]

What, we broke 4500 and nobody is posting anything?  I guess we're getting used to it.

Not necessarily a bad thing. The fact we're going up without that crazy euphoria is probably a health thing

[soullyG]

[Pajulapoiss]

Just read this...

While we're talking about speculative articles, what do you think about this?

Dear Crypto, You’re Being Played By Wall Street
https://medium.com/@JesseLivermore/dear-crypto-youre-being-played-by-wall-street-35a1117ef859

And then noticed this weird symmetrical bouncy upward movements on all top 10 cryptos?



Are the wall street bastards sending us a hidden message?

[Elwar]

I will likely move to Tahiti next year and will likely live on a boat.

I just finished reading this article, where they mention the seastead at Tahiti.

Nice synchronicity. I'll come visit you when Bitcoin hits 23K$

That's why I am choosing Tahiti. I hope to be there helping them get things ramped up and become one of the first seasteaders.

[Elwar]

And then noticed this weird symmetrical bouncy upward movements on all top 10 cryptos?

Are the wall street bastards sending us a hidden message?

Throughout the summer any crash or increase has been mainly across the board with all cryptocurrencies.

While last year there was some sort of inverse relationship between ETH and BTC, this year they are rising and falling together.

I would conclude that cryptocurrencies as a whole are being invested in, not just one or two. Even if big investors were investing in BTC, that would then trigger people to buy ETH with their newly inflated BTC and so on and so on.

Last year's inverse relationship had more to do with the FUD that ETH was going to replace BTC.

[jojo69]

crossing my fingers, looking like we might finally get some convincing buy side volume here

[Icygreen]

I've just finished my 3 week show with the "Bitcoin Accepted Here + 10% discount" sign. No transactions unfortunately. Only met 2 other holders and they weren't using it as a payment method but rather trading a portion and holding another. I learned that the majority of the population has heard of bitcoin somehow but have no idea what it is or where to start and probably don't care enough or have the time to research it.
About 1 percent were curious or knew someone with bitcoin and several people took photos of the sign for their teenage sons.

My neighbor became curious about BTC and eventually downloaded a wallet. I agreed to buy some small amount for her but it never happened and I didn't want to push it but rather I gave her some sources to start learning from.
I believe bitcoin is still in the very early adopters stage and I don't see bitcoin becoming a popular method of payment anytime soon and perhaps that will be the last thing it becomes.  On the other hand, credit card "Tap" transactions are becoming wildly popular.

It was great to have so many ATH's during the show backing up my argument and a sweet Labor day discount.  

Looks like the train is pulling away again and my recent buys are looking good at bitstamp $4550

[lightfoot]

Always keep in mind that during the age of the city-state, people were known as "serfs" and bound to the land. Not so much fun....

Anyway, Bitcoin continues to bounce around, never dull but not complaining...

[Elwar]

Always keep in mind that during the age of the city-state, people were known as "serfs" and bound to the land. Not so much fun....

Anyway, Bitcoin continues to bounce around, never dull but not complaining...

This. Serfs were basically slaves with the 30% in taxes they had to pay on their wages.