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

[vit05]

How long until 4k? 10 minutes, 1 hour?

[BlindMayorBitcorn]

FOMO? Fundamentals?

Don't jinx a good thing, BMB!!!!!        



You almost already single-handedly brought the whole bitcoin price to a bear status with your previous pants request stunt, and your subsequent selling your stash at $3k-ish.  

 

I stuck a hundred buck on my BitPay card. I tend to be a bit overly dramatic.

But there's no excuse for the pants thing and I'm sorry.

[BlindMayorBitcorn]

397x

[toknormal]

Stop pretending that gold and silver used in native coin format haven't been used as money for thousands of years...Also, stop pretending bitcoin allows you to do anything that metals don't

goldmoney.com blockchain isn't gold. It's a gold derivative, no different from credit.

When you "hold" gold-backed blockchain tokens you're not holding gold, you're holding credit. When you trade them you're not trading gold, you're trading credit.

So bitcoin does indeed "allow you to do something that metals don't" which is to hold a genuine bearer token. That's something gold used to be in the days of physical markets but is no longer capable of since it has a slight problem with travelling through wires.

What Schiff & Co Gold & Silver people fail to recognise is that gold gained its value through monetary function, not intrinsic value. It essentially represented a physical bitcoin of the day. During the latter part of the 20th Century, however, the bulk of the world's trade and monetary exchange volume migrated to electronic platforms which left precious metals crippled in terms of monetary function - totally illiquid.

With bitcoin you can both:

 • hold it

and

 • exchange it with a trading party on the other side of the planet in 20 minutes

That is "monetary function" and it's something that no precious metal can compete with which is why during 5 years of the worlds biggest fiat money printing exercise when metals had the biggest open goal they've ever had, they were left standing with their underpants around their ankles while bitcoin skyrocketed.

[SERVERIA]

Look like we're going back up into 4xxx shortly... 

[JayJuanGee]

FOMO? Fundamentals?

Don't jinx a good thing, BMB!!!!!        



You almost already single-handedly brought the whole bitcoin price to a bear status with your previous pants request stunt, and your subsequent selling your stash at $3k-ish.  

 

I stuck a hundred buck on my BitPay card. I tend to be a bit overly dramatic.

But there's no excuse for the pants thing and I'm sorry.

Well, I am glad that you hung on to a few coins, in order to share with the rest of us HODLers and "BUYDL on the dippers"..

Accordingly more than 30% bounceback...  from $3k and approaching $4k...  Can't be complaining about that, and maybe bring us out of the correction phase... at least if you believe that we are NOT going into a bear market, yet...  and possibly we can now conclude that the bottom of that harsh correction of more than 40% from $4980 to $2972 could be "in"... 

It was rough. 

I had buy orders staggered down to $2500 - and I was getting worried and was going to have to go into a "manual" mode, if prices had gone below all of my buy orders, which was looking "touch and go" there for awhile.  This bounce back had given some additional strength to my holdings......  gotta feel good about that.

I really am not surprised by a 50% correction - however, I was thinking that we are not quite ready for a 50% correction yet.. we seem to have at least one more leg up above $5k first, and we likely need to achieve a bit more exponential.. and then 50% and possibly even more 60% or 70% would be within reasonable expectations.. but with a starting point in the $6500 plus arena...

No one really knows, so it is not unusual to experience a price move that was not expected..... but feeling like decent chances of up from here... perhaps?
 

[ihsanskanzaone]

it is better to make a better graph and where the bitkoin direction for the next few years or
to predict the amount of the price and the bitkoin enthusiasts each year so that the bitkoin
users can increase and can influence the exchange rate of bitkoin

[Last of the V8s]

Any good place to get instant news about btc, like app or twitter? I usually follow the market at bitcoinity, and have done so for years, but most of the time I have no clue why lots of people decide to buy/dump all of a sudden.

Thanks

good - no
instant - no
no clue - nobody else has a clue either
lots of people - sheep
all of a sudden - emotional reaction

app - search for whalepool and for bitcoinmumble. do not trust the apps, or the people there, or the nsa not to know what you're up to
twitter - cnLedger, bloody Jihan Wu, satoshilite, we rate dogs

[CistaCista]

For the next ATH contest, I am picking 13/12 2017.

[Sukovsky]

Why are you making a list lime that when we're about to make another sub 3k run. A deep one that is.

[Dotto]

Chinese must being in a FOMO like posseses. What a gubermint of r0achs, LOL.

Chinese friends, dont let the PBOC make you poor. Bypass that mdfk. Hodl your coins

[DeathAngel]

$3981 on Stamp, looks like the storm has blown over & we're nearly back to the $4000's. China bull shot has been dissolved.

[sgk]

it is better to make a better graph and where the bitkoin direction for the next few years or
to predict the amount of the price and the bitkoin enthusiasts each year so that the bitkoin
users can increase and can influence the exchange rate of bitkoin

[aesma]

I've received a transaction that was included in a block in 31 minutes, with a fee of 0.675 sat/Byte ! Is that plausible on its own or did the sender surely have access to a mining pool to do this. The last transaction I made I needed 120 sat/Byte to get it confirmed in a couple of hours (before the dump).

[micalith]

I've received a transaction that was included in a block in 31 minutes, with a fee of 0.675 sat/Byte ! Is that plausible on its own or did the sender surely have access to a mining pool to do this. The last transaction I made I needed 120 sat/Byte to get it confirmed in a couple of hours (before the dump).

Not sure about sat/Byte, but I've not paid more than 2 pence per transaction in the last 2 weeks

[aesma]

I always pay at least 10 sat/Byte as that's the minimum to be able to accelerate the transaction with ViaBTC transaction accelerator. For most transactions that turns out as a few cents.

[Last of the V8s]

https://twitter.com/TuurDemeester/status/909581158484029440
Wow. This is the central bank of central banks saying that many central bank operated payment platforms are technologically obsolete.

https://www.bis.org/publ/qtrpdf/r_qt1709f.htm https://archive.is/ZLN8o
New cryptocurrencies are emerging almost daily, and many interested parties are wondering whether central banks should issue their own versions. But what might central bank cryptocurrencies (CBCCs) look like and would they be useful?
No they wouldn't, Mr soon-to-be-swallowed-whole-by-bitcoin Bank for International Settlements. Read your own fellow lizards' research, then fuck off and get with the program here http://log.mkj.lt/trilema/today .

...
http://www.columbia.edu/~jl4130/BTC.pdf sorry for pdf
An Economic Analysis of the Bitcoin Payment System

Bitcoin is not regulated. It cannot be regulated.

^ hmmmm link curiously broken nao. https://archive.is/wB2J7 anyway

wow testing private blockchains https://www.scribd.com/document/358181061/Ecb-stella-Project-Report-September-2017
tl;dr they don't work duh

[Elwar]

Elwar a question out of curiosity: why don't you consider Mycelium, Electrum, Bitcoin Core etc. as good short term solutions?
I would not suggest to use blockchain.info as a hot wallet.

They are too...I was thinking phone apps. Electrum is probably best as far as security goes.

I only include blockchain.info because of my frustration with breadwallet not allowing you to set your transaction fee. Though I don't use it personally. I used Mycelium but did not like it as a phone app.

[Denker]

$3981 on Stamp, looks like the storm has blown over & we're nearly back to the $4000's. China bull shot has been dissolved.

Let's see if we can break through 4000 without any signs of big resistance or if we will need 2-3 attempts to break it.
Furthermore I still expect some shenanigans by chinese regulators which may trigger another uncertainty and shakeout. Probably not as strong as the recent one, but the market still has the tendency to react extreme emotional.

[Last of the V8s]