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

[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.

[JayJuanGee]

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?

Don't get lulled into a false impression of equivalencies between cryptos, merely because we have short term simularities (supposed synchronization) in performance - that happens sometimes, yet it does not necessarily play out on a longer scaler or even speak to some fundamental differences between them.

[becoin]

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

This was epic 

Not yet. The epic will be 404404 error!

[bitcoinPsycho]

I'll be back under $3000. Sell now, before it's too late. Mark my words.

Fuck you : marked and ignored

[Elwar]

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

Thanks for the insight from the merchant's point of view.

As someone who tends to spend bitcoins I have been to many shops and restaurants to spend bitcoins in person and I suspect they have similar results. Usually if it is just a waiter or waitress they will kind of know what you're talking about when you say you want to pay in bitcoins but are mainly hoping to go ask someone who knows. Several times I have had them come back and say their system is down (which typically means they had a tablet set up for it somewhere but nobody bothered to charge it, or they have no idea how to accept it if they got the tablet working). I have had to help a few people with their own system to show them how they are supposed to accept it.

From all of my experience I created a prototype of a simple system where it's basically a cell phone stand with one side being the customer view and the other being the merchant view. You just put cheap cell phones (priced them out to $10 each on alibaba) in the stand and allow the merchant to type in the price and let the other phone receive the payment request and display the QR code and price. One USB chord for both to keep it running.

Never did anything with it, I got a prototype of the stand from one chinese company but it was vertical as opposed to horizontal, and life made me too busy to write the software for the phones (bought a couple of cheap android phones to test with). Now it's just a hassle carrying the things around in my suitcase when I move. Also paid for a prototype of a wall mounted Bitcoin price ticker but again, life got in the way. Maybe when I retire next year I can pull these projects out of mothballs.

[mymenace]

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?

Don't get lulled into a false impression of equivalencies between cryptos, merely because we have short term simularities (supposed synchronization) in performance - that happens sometimes, yet it does not necessarily play out on a longer scaler or even speak to some fundamental differences between them.

There seems to be one guarantee though, all crypto keeps rising in USD price regardless of bubbles and busts

Is this correct?

[Last of the V8s]

Nice Article on BTC by Seeking Alpha:

Why Bitcoin Is The Investment Of The Decade
https://seekingalpha.com/article/4104272-bitcoin-investment-decade

Argues for a mid 2018 value of $6000

from same fishwrap https://seekingalpha.com/article/4104085-bitcoin-will-made-illegal-tender

'argues'

[JayJuanGee]

[edited out]
 

Don't get lulled into a false impression of equivalencies between cryptos, merely because we have short term simularities (supposed synchronization) in performance - that happens sometimes, yet it does not necessarily play out on a longer scaler or even speak to some fundamental differences between them.

There seems to be one guarantee though, all crypto keeps rising in USD price regardless of bubbles and busts

Is this correct?

Sure all cryptos have been in a considerable price appreciation in regards to the dollar for nearly a year now, and sure, such ongoing crypto pumping can occur for another year or two (surely not guaranteed), but even if various cryptos are pumping simultaneously, that does not take a way from the fact that some of them are pure crap and they are just caught up in the pump.. so merely because they happen to be top 10 in crypto, does not necessarily make them good or good investments in relation to bitcoin, for example.

Also, we know that sometimes, you can make way more in various alt currency pump and dumps (maybe even 10x more than BTC or even greater), but those kinds of historical facts do not make those alt cryptos equivalent to bitcoin in fundamental terms - even though they surely are likely to be riding on bitcoin's coat-tails of success and security in order to achieve their own level of price appreciation that might dwarf bitcoin for short periods of time and even allow people to become rich faster, if they can play their cards right and not get scammed in such pump and dumps.

Anyhow, the recent consistent and ongoing superior price appreciation of various cryptos in regards to the dollar does not guarantee in any way that it is going to continue or even continue consistently when some of the scams are discovered, which could also take a considerable amount of time to realize that a large number of the cryptos are scams or at least they do not have fundamental value beyond theoretical and beyond a bunch of folks pumping money into them.

[Last of the V8s]

[Last of the V8s]

https://aeon.co/essays/the-end-of-a-world-of-nation-states-may-be-upon-us

pantsuit media floats city-states

city-states entirely self-funded by their own floats of a bitcoin sidechain crypto-currency?

genuine lol. yes, something like that. Tahiti!

[Lauda]

from same fishwrap https://seekingalpha.com/article/4104085-bitcoin-will-made-illegal-tender

Expect Bitcoin to approach its cost of production of US$500 when the market prices this in.

Man some people are truly delusional or just butthurt losers. You have to be either: 1) Extremely ignorant. 2) Paid to support the govt and banks. 3) Out of your god damn mind, to support them when a much better alternative is at hand.