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

[Ibian]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

Wow, can't even trust good ol' Morgan Freeman anymore. His eyes says he doesn't believe what he's saying IMHO.

I cancelled my Trezor order when the hack was exposed to relinquish private keys and balances.  Mostly because I travel a lot and I intend to carry a unit with me. If airport TSA or customs can access keys on the device, I no longer see the use in it.   May prove to be true with other devices later but I ordered the Ledger nano s.  Ships in October, ordered in early August = Bullish!

Trezor fixed the physical memory access hack in the 1.5.2 firmware update, even for Trezors with an older bootloader. Stop spreading FUD.

Paper wallets ftw anyway. Probably should split my big wallets into smaller ones at some point...

[ragnar0k]

so if the price goes down I will buy and if it goes up I will sell... maybe I will add a little bit here or there, but does not really seem that clear in order to make any actual meaningful changes to a system that already works well.

I hear you, and usually I do the same... Though this right shoulder makes me greedy XD
I also agree TA is a bit like reading horoscope, let's se what happens, just wanted to hear some opinions (after all this thread is for price tracking )

[criptix]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

He will read whatever you put in front of him, but that was just awful  

Heading towards $4000 once again?

I don't think so we need to see $3000 ever again... in our lives.

Its time for bitcoin and top-most altcoins to recover, like XMR/ETC/ETH/etc.

I think 3k has a chance to happen still, once it tops 6k then 3k won't happen

[profitgenerator212]

I second that. BitCoin isn't like 'other' markets.

I can tell you from my experience ...

And I can tell you from experience that whatever you think you know about some canonical market is absolutely inapplicable here.

That is nonsense , of course each market is different, but the principle of mean reversion always applies, especially to currencies.

It's a random walk with some biases that persist which can be used to predict the x+1 datapoint if you were a HFT trader, or even go into the orderbook and play with the tick data. There are plenty of quant tools available to play with that.

In my opinion the bull market is over. And it makes sense fundamentally too. This Chinese ban thing is getting hot and it will have big ramifications in the near future.

You are wrong. Quote this for future reference; bitcoin at a price of $3600 is a good buy.

Sure do that. It's fun to argue with sheeps who go with the flock but money is not made that way.

[profitgenerator212]

Look kid, I have 10+ years of tradin experience, made good money over the years.
I know the market, and this is going down.
By the way it already went down and it will probably continue to go down despite your irrational exuberance, and the countless shills on this thread trying to talk it up. It doesn't work.

Cool story, bro.

Bitcorn doesn't give a shit about your 10+ years of tradin' experience.

Neither it does about yours, especially if your analysis is just drawing a few lines on the chart.

I can always tell which way those with "a lot of trading experience" believe the price of bitcoin will go.

They have all of that experience, they are so great with the market that they failed to see the potential value of Bitcoin and how it would jump to thousands of dollars each.

Even now they don't get it and all of their "experience" still tells them it is worthless, so obviously the price will go to zero. So they can get back to their stocks and bonds.

I didn;t know about Bitcoin in 2009, but I would guarantee you that I would have invested minimum 2500 EUR into BTC if I had known about it. I was always amazed by internet stuff, seeing Youtube, Google and FB grow suggested to me that any cryptocurrency would immediately have huge value.

So I have pretty good insights compared to other "experienced" traders.

Besides I wasn't in stocks or bonds, I was in real estate and agro land.

[BlindMayorBitcorn]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

Wow, can't even trust good ol' Morgan Freeman anymore. His eyes says he doesn't believe what he's saying IMHO.

I cancelled my Trezor order when the hack was exposed to relinquish private keys and balances.  Mostly because I travel a lot and I intend to carry a unit with me. If airport TSA or customs can access keys on the device, I no longer see the use in it.   May prove to be true with other devices later but I ordered the Ledger nano s.  Ships in October, ordered in early August = Bullish!

Trezor fixed the physical memory access hack in the 1.5.2 firmware update, even for Trezors with an older bootloader. Stop spreading FUD.

If someone has access to your hardware wallet best to assume it can be compromised.

[JayJuanGee]

so if the price goes down I will buy and if it goes up I will sell... maybe I will add a little bit here or there, but does not really seem that clear in order to make any actual meaningful changes to a system that already works well.

I hear you, and usually I do the same... Though this right shoulder makes me greedy XD
I also agree TA is a bit like reading horoscope, let's se what happens, just wanted to hear some opinions (after all this thread is for price tracking )

No problem.  I like to hear varying perspectives too.  I only start to get a bit grumpy when I see some of the varying perspectives framed as absolutes, especially when they happen to be bearish perspectives...

For some reason I am a bit more tolerant of bullish predictions that are framed as absolutes, such as: too the moon... or we are going up, etc etc..   Go figure!

[xhomerx10]

What you are seeing below is a classic morning star on the daily chart indicating the start of a bullish trend.



Combine that with 2 weekly red candles behind us and RSI hovering in the mid 40's and I believe I'm sounding like a seasoned technical analyst even though I don't know shit.  I am however crossing my fingers for the new ATH to happen on Sept 27th 

[JayJuanGee]

I second that. BitCoin isn't like 'other' markets.

I can tell you from my experience ...

And I can tell you from experience that whatever you think you know about some canonical market is absolutely inapplicable here.

That is nonsense , of course each market is different, but the principle of mean reversion always applies, especially to currencies.

Have you ever thought about metacalfe's law?  If you are trying to equate bitcoin with other currencies then you are going to be off base because bitcoin is way fucking early to be pigeon-holed like that.. and to act like  it is same ole same ole.

I didn;t know about Bitcoin in 2009, but I would guarantee you that I would have invested minimum 2500 EUR into BTC if I had known about it. I was always amazed by internet stuff, seeing Youtube, Google and FB grow suggested to me that any cryptocurrency would immediately have huge value.

So I have pretty good insights compared to other "experienced" traders.

Besides I wasn't in stocks or bonds, I was in real estate and agro land.

Yeah because you are amazing and able to predict better than anyone else because you are above average in everything... blah blah blah..  

Why don't just communicate with the rest of us like you are a normal person rather than attempting imbue status upon yourself and to patronize the rest of us.  Come on.. do it.  Tell us what the fuck is going to happen, and give us reasons, rather than your lame-ass status as you frame as supposed material and relevant experience.  Do it.  Do it.    

[Icygreen]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

Wow, can't even trust good ol' Morgan Freeman anymore. His eyes says he doesn't believe what he's saying IMHO.

I cancelled my Trezor order when the hack was exposed to relinquish private keys and balances.  Mostly because I travel a lot and I intend to carry a unit with me. If airport TSA or customs can access keys on the device, I no longer see the use in it.   May prove to be true with other devices later but I ordered the Ledger nano s.  Ships in October, ordered in early August = Bullish!

 Stop spreading FUD.

Sorry you had to read through my.... FUD. I'ts my FUD and I do with it what I deem relevant.  Thanks for the update on the Trezor. From what I had read and watched, it looked like a physical hack/backdoor dump. I didn't know the software patch solved the issue. I might still consider it a relevant concern for someone traveling often.

[profitgenerator212]

Have you ever thought about metacalfe's law?  If you are trying to equate bitcoin with other currencies then you are going to be off base because bitcoin is way fucking early to be pigeon-holed like that.. and to act like  it is same ole same ole.

Yeah and no market goes up forever. What goes up comes down. Being in this permabull/shill mentality is very wrong. It the same as those foolish  traders before the 2008 crisis.

Why don't just communicate with the rest of us like you are a normal person rather than attempting imbue status upon yourself and to patronize the rest of us.

I have already explained it, I wrote a few posts about it in my blog. I don't think this thread is the best place to explain it in detail.



But I don't even care if you believe in me or not. I have put out my opinions, everyone does what he wants with them. I don't care if you lose or win money at this point. I know I will make money if the market goes down.

[ragnar0k]

What you are seeing below is a classic morning star on the daily chart indicating the start of a bullish trend.



Combine that with 2 weekly red candles behind us and RSI hovering in the mid 40's and I believe I'm sounding like a seasoned technical analyst even though I don't know shit.  I am however crossing my fingers for the new ATH to happen on Sept 27th 

That is indeed a morning star (I just looked it up on google XD)! Setting my alarms 

@JayJuanGee see? It's all a matter of perspective and I've learnt something new!

[BlindMayorBitcorn]

This is all going in my blog.

[bones261]

But I don't even care if you believe in me or not. I have put out my opinions, everyone does what he wants with them. I don't care if you lose or win money at this point. I know I will make money if the market goes down.

You really think that you can outmaneuver DCG and other whales? I certainly hope that you don't plan on margin shorting this shit. Rest assured, the whales will quietly close their shorts before you and then squeeze you out of your short to buy their expensive coins at the top of the next sucker's rally. Good luck trying to figure out this volatile and illiquid market, that can be manipulated at the whim of whales. These "whales" don't even need to have a billion USD in fiat/BTC. A few 10s of millions of USD worth should do the trick, if that.  

[LewisPirenne]

The main thing that I worried about Trezor or Ledger Nano S is that custom officials around the world are going to wise up and start looking for them.  Because they do have rather distinct look from your regular USBs.  

Pretty much every countries in the world has currency amount restriction and reporting requirement at airport.  If countries start to include Bitcoin into amount that you have to declare, having even 1 BTC in your hardware wallet could easily exceed those limit one day!  Since most limit are around USD or EUR 10K max.  BTC could easily reach USD or EUR 10K if it wants to.  

[jojo69]

Yeah and no market goes up forever. What goes up comes down. Being in this permabull/shill mentality is very wrong. It the same as those foolish  traders before the 2008 crisis.

thing is, we have been hearing this EXACT same shit since the $32 "bubble"

shit, I sold 100 BTC at, wait for it, $13 each, to "lock in" profits

let's just say I am unlikely to listen to that kind of advise again

[cAPSLOCK]

The main thing that I worried about Trezor or Ledger Nano S is that custom officials around the world are going to wise up and start looking for them.  Because they do have rather distinct look from your regular USBs.  

Pretty much every countries in the world has currency amount restriction and reporting requirement at airport.  If countries start to include Bitcoin into amount that you have to declare, having even 1 BTC in your hardware wallet could easily exceed those limit one day!  Since most limit are around USD or EUR 10K max.  BTC could easily reach USD or EUR 10K if it wants to.  

The Ledger folks have thought of this.  Their solution is interesting.

https://ledger.groovehq.com/knowledge_base/topics/advanced-passphrase-options

WHAT IS PLAUSIBLE DENIABILITY?

In Nano S, "Plausible deniability" is a security feature to face the risk of being threatened and/or forced to give your PIN code. With this option, you will manage 2 PIN codes:

    First PIN code gives access to your main wallet, like a basic account with low amounts, to check daily payments.
    Second PIN code, linked to a specific passphrase you need to set up, opens an hidden account, for example to save large amounts, which will be used once in a while.

[NewWorldCoiner]

Trezor has the same feature, dunno who was first but it's pretty cool.

[BlindMayorBitcorn]

Trezor has the same feature, dunno who was first but it's pretty cool.

Hidden Wallets
Now that you know how passphrases work, we can “create” a few hidden wallets. Choose a few arbitrary passphrases, the actual number is up to you, and store a small amount of bitcoins (altcoins) in them. The quantity deposited in each passphrase-protected wallet is up to you, and will differ user-by-user, as all of us possess different amount of bitcoins.
Let’s have a look at an example:
Passphrase 1:  [empty passphrase]             0.05 BTC
Passphrase 2:  correct-horse-battery-staple   0.10 BTC
Passphrase 3:  Brainy2$Mccoy$Tie6             Main Stash

https://blog.trezor.io/hide-your-trezor-wallets-with-multiple-passphrases-f2e0834026eb

[LewisPirenne]

My thoughts originally was to have some kind of "chequing account" to give to muggers or custom officials who want to shake you down.  But as soon as you get home, and it will probably take them at least hours if not days to crack your "real" passphrase, you use the paper wallet backup (of hardware wallet) or whatever option Trezor/Nano S offer you to tx away your real hoard of BTC from those thugs.  Though it's conceivable that real thugs will know that there are multiple passphrases to access different accounts within those hardware wallets.