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

[Spaceman_Spiff_Original]

Moving on up !

Looks like I jumped the gun.

[Asrael999]

I can assure you this will mean another 2-3 year bear market!

It took about a year for the price to drop 80% last time, it got that low around Jan 15. So don't expect to hit $1000 quickly if at all.

[aesma]

Aren't many more people invested in BTC now that last time it crashed ?

Or do you think most of these newer investors (since this year, let's say) are cutting losses right now and will exit BTC ?

[Lopumbo]

Chinese exchanges currently trade 1BTC for ~2700$ - Yesterdays price of ~3100$ also came to our exchanges

[lemmyK]

good that all of them are closing Sep 30. people should stay on the sideline and let Chinese sell their stash at the lowest possible. After Sep 30 with no selling pressure and no chinese FUD, we expect a new gold rush.

[El duderino_]

Its understandable that new investing people getting affraid with such price falls and Just think what the hell ....
And offcourse jump out of the ship thinking its Going to sink... further and further
I'm also affraid with every big price fall Cause i only hodl a large stash of btc but not knowing Much of iT...
Only good luck my friend allways reminds me keep buying keep hodling only smart money stays in BTC .... and the Noobs needs to get filterd out of This to than rise back up ..... to do iT than over again and again...
BUT after long time hodling i stil call HIM every dip asking wtf Going on to than hear allways same Just hodl buy more
And So on ..... offcourse i make silly games to Just hear Some more good spirit    

[aesma]

I guess brave people, not Chinese (or with another citizenship on top), with accounts on Chinese exchanges, can make a killing right now. Unfortunately instead of just buying cheap coins for later, they're probably arbitraging, causing this worldwide crash.

[Denker]

I can assure you this will mean another 2-3 year bear market!

It took about a year for the price to drop 80% last time, it got that low around Jan 15. So don't expect to hit $1000 quickly if at all.

Not if banks like GS, JP Morgen PBOC etc. are buying as hell and have done so before.With a massive stash they would definitely have the possibilities to suppress the price for some while and continue shenanigans. More users would lose patience and interested newbies may stay away.

[El duderino_]

good that all of them are closing Sep 30. people should stay on the sideline and let Chinese sell their stash at the lowest possible. After Sep 30 with no selling pressure and no chinese FUD, we expect a new gold rush.

But than again how much f*** chinese are there    :

[yermom]

Well hello there,

i'm new to Cryptos but not new to investing.

blablablablabla

And I will repeat what others said before me. Blockchain technology is revolutionary but BTC is not - It is not more than a speculative asset.
Anybody who "believes" in BTC as a decentralized currency is doomed to fail. It is the king now, but there are no kings, only princes.
So, as you do not know the intrinsic value of a BTC you might end with a bunch of worthless private keys.

Anyway I'm surely investing down on teh road for the fun of it.

BTCs market cap is laughable. Nobodys gonna "attack"  
The only conspiracy theory which could apply is, that BTC as an implemention of the blockchain technology is a crucial social experiment  

Two facts from my side:
Every larger company is currently trying to reduce the cost associated with hard cash.
This is the "digitalizing aspect" everybody is talking about. Yes (slow) companies will arrive in the 21. century too.
Finance institutes are looking for experts in blockchain technology (some job offerings I recently read). So count 1+1 together...

Anyone remember Amazon? The cream always rises to the top.   Do you really think BTC has gone without any kind of further development or innovation since 2008?  

Amazon will not stay there forever. Remember IBM and McDonalds?
Sure BTC got under developement, but in my opinion its inherent technological design is broken, if you want it to use as an actual currency.
And that's the argument of many "believers". Current attemps in improving scalability comes at the cost of loosing security, let alone the sheer amount of electricity needed for buying a coffee.

Hey you, yes you.
You are new, but at the same time you're not. You know nothing and everything in a matter of days. You are the smartest person on earth. And you bought at the top. And you want to trade with "myspace" as you say, because you are the FUCKING MASTER.

Welcome

Edit
 Digitalization is here, not along the 21th century

[Lopumbo]

And you want to trade with "myspace" as you say, because you are the FUCKING MASTER.
Welcome

As long as there is no facebook, myspace should suffice  

[bimasena25]

https://mobile.twitter.com/redtheminer/status/908625406219059200

Beijing authority asked #bitcoin exchanges to shut down trading by 30 Sep and close new user registration immediately. #BTC #ICO
as long as they are registered in China

[petahashminer]

from a msg above the tweet.

Reporter from WaPo/FT tweeted they were asked to stop by end of day today. Wish it was. Faster exchanges close, faster selling stops

[mattimann]

What will happen to the big Mining Farms? How are they supposed to sell in the future. Will the Chinese Authority´s also go after them?

[leowonderful]

What will happen to the big Mining Farms? How are they supposed to sell in the future. Will the Chinese Authority´s also go after them?

They've got to keep mining, no way that Bitmain stops such a large mining operation. Government also gives them lower electrical costs so I bet they've worked something out to let em keep mining. Question is how they turn that BTC into cash if they need it.

[gentlemand]

What will happen to the big Mining Farms? How are they supposed to sell in the future. Will the Chinese Authority´s also go after them?

They'll have OTC deals in place and if not OTC markets will continue to operate.

It's a shame. The death of Chinese mining would be far more beneficial than the death of Chinese markets, though that's pretty good stuff too.

[by rallier]

I am curious about Chinese guys, What are they planning about that bad news..

[mattimann]

What will happen to the big Mining Farms? How are they supposed to sell in the future. Will the Chinese Authority´s also go after them?

They've got to keep mining, no way that Bitmain stops such a large mining operation. Government also gives them lower electrical costs so I bet they've worked something out to let em keep mining. Question is how they turn that BTC into cash if they need it.

But what if not?
Would it lead to a movement of the Mining Indurie to other Places? With much higher costs, thus leading to higher BTC Prices...?

[ShroomsKit_Disgrace]

I expect an statement from PBOC next Monday saying they will work closely with Ripple Labs and make BCH the only legal and official crypto currency in China.

That will be the point of max pain. 

[empowering]