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

[marcus_of_augustus]

Whale money is shuffling into alt coins again. To teach us all a very valuable lesson, you see?

Lesson being whales are inveterate gamblers and ..... there's always a bigger fish.

[Last of the V8s]

So, farewell, Jeff.
Which developer will they burn with their next attack?
They could hoik Vitalik 'back into bitcoin' to 'make it better'.

[Denker]

The _upgrade_ didn't take, they have to crash the price a bit otherwise they look wrong.

What upgrade?? This was an attempt of a hostile takeover. And the community said "F U !".
The bad actors are known now and the users won't forget what they have done. These companies and CEOs already look being wrong. They just prevented themselves to end as the biggest jokes in the entire ecosystem. For now!! I'm pretty sure these dummies will try again at some point in the future.
And the price correction would have happened any way imo. This is needed and healthy.

[mike4001]

Actually I think its a good sign if we can hold an above 7000 level with all the money going into bitcoin because of "free segwit2x coins"

I would have expected a drop to the 6000s.

[bitcoinminer42]

Actually I think its a good sign if we can hold an above 7000 level with all the money going into bitcoin because of "free segwit2x coins"

I would have expected a drop to the 6000s.

maybe u'll see it near term

[ferdinandos93]

http://www.brainlesstales.com/images/misc/bitcoin-roller-coaster.gif

This .gif accurately summarizes today.

What a freaking crazy ride, amirite ?

Yes, you are rite about 93% of the time, and this is one of those times. 

I am so excited that I am about to employ colors and bold and weird choo expressions, - but possibly, I can hold back a bit longer - especially, since even though bitcoin dynamics are looking good, us HODLers and accumulators are not necessarily completely out of any woods, yet.

I agree with this ride it goes up and then down and up i do not know what is wrong with bitcoin at the moment i see it going to 7.5k than 7.3k than back to 7.5k it is not a normal thing that bitcoin does do.

[ZedMain]

Now it has settled and we are back to where we started before all the 2x getting cancelled news.

Can we finally get back to getting to $8k already?

Someone is still buying futures, the miners are still signalling. Seems premature..

https://vignette.wikia.nocookie.net/smashbroslawlorigins/images/2/2c/Its-dead-jim.jpg/revision/latest?cb=20150316200750

the futures have gone from $186 to $220 while we've dropped. does this mean nothing?

Yeah, futures are now $340. Still no idea what's going on.

What are features ? is this a new coin or something i am new and i actually want to know about it because i saw this "futures" coming in a lot of topics today.

[yefi]

With CME going live in less than a week, alts better watch their game. This may still be a premature rotation...

[fragout]

Why are B2X futures still trading and rising in value ?? https://coinmarketcap.com/currencies/segwit2x/

[fragout]

With CME going live in less than a week, alts better watch their game. This may still be a premature rotation...

Im slightly confused on how CME will affect the price of bitcoin as there is no actual bitcoin bought in their trades and people using CME are basically just betting on the future price. Or have i got it totally wrong?

[Last of the V8s]

Why are B2X futures still trading and rising in value ?? https://coinmarketcap.com/currencies/segwit2x/

http://log.mkj.lt/trilema/20171108/#441

<davout>  logic is that on some platform that offered "prefork coin splitting" the prefork-SW2X-coinz are needed to merge with the prefork-actual-bitcoin in order to have a prefork-full-bitcoin

people buying them do so in order to be able to withdraw from platforms immediately without waiting for the contract expiration on nov. 16th

therefore, nonzero value

will converge to perceived risk pricing of leaving buttcoin on a platform until contract expiration

[Last of the V8s]

With CME going live in less than a week, alts better watch their game. This may still be a premature rotation...

Im slightly confused on how CME will affect the price of bitcoin as there is no actual bitcoin bought in their trades and people using CME are basically just betting on the future price. Or have i got it totally wrong?

so are they
so is erryone

[AlcoHoDL]

This has got to be the funniest meme I've ever seen!

LOL!

I hope we have Carolina soon, as I've just got myself two shiny new BTC...

[fluidjax]

With CME going live in less than a week, alts better watch their game. This may still be a premature rotation...

Im slightly confused on how CME will affect the price of bitcoin as there is no actual bitcoin bought in their trades and people using CME are basically just betting on the future price. Or have i got it totally wrong?

so are they
so is erryone

From some I hear it will allows shortesr to destroy Bitcoin, from others it will bring new money (indirectly) into the ecosystem and push up the price. Some say it will stabilise the price, others that it will increase volatility.
I guess we are going to have to simply wait and see.
 

[soullyG]

Ms Kaminska writing lovely things about the Honey Badger as usual

https://www.ft.com/content/c166aa1e-c303-11e7-a1d2-6786f39ef675

And even if all that were possible, none of it changes the fact that if bitcoin’s primary use is for speculation rather than transaction, the energy wastage serves very little constructive social purpose at all.

[Last of the V8s]

Ms Kaminska writing lovely things about the Honey Badger as usual

https://www.ft.com/content/c166aa1e-c303-11e7-a1d2-6786f39ef675

And even if all that were possible, none of it changes the fact that if bitcoin’s primary use is for speculation rather than transaction, the energy wastage serves very little constructive social purpose at all.

energy wastage is heating my house, my mistresses' houses, the office ...

energy from Chinese, Siberian, Canuck dams would be wasted if not used for mining

that girl needs a good somethinging

[LewisPirenne]

Ms Kaminska writing lovely things about the Honey Badger as usual

https://www.ft.com/content/c166aa1e-c303-11e7-a1d2-6786f39ef675

And even if all that were possible, none of it changes the fact that if bitcoin’s primary use is for speculation rather than transaction, the energy wastage serves very little constructive social purpose at all.

Actually I am less and less inclined to educate people on the facts and prefer to let market do its work, i.e. redistribute wealth from those who are ignorant or got it wrong and yet refused to admit their mistakes.  

If she knows anything about mining, those Chinese mining cartels actually ship their Antminers to remote corners of China during rainy season to take advantage of "free" electricity provided by hydro dams.  Due to lack of power grid and long distance power transmission network, those electricity are wasted anyway.  They shipped back their Antminers during dry season to coal producing region such as Inner Mongolia to take advantage of cheap electricity from coal-fired power plant.  

As for why bitcoin even has value or social purpose (and no, it's not about payment utility), I won't bother with a TL;DR discussion of ideas such as social scalability for inherently non-scalable human as per Szabo.  Because that would reveal our hidden agenda of trying to recreate the institutions that give fiat money value or reach consensus on something such as gold, but done via a value transfer protocol over internet, a process that would take places over years, rather than millenniums as per human history.  

[Searing]

Ms Kaminska writing lovely things about the Honey Badger as usual

https://www.ft.com/content/c166aa1e-c303-11e7-a1d2-6786f39ef675

And even if all that were possible, none of it changes the fact that if bitcoin’s primary use is for speculation rather than transaction, the energy wastage serves very little constructive social purpose at all.

Silly or not ....BTC allows WEALTH TO BE HELD IN VALUE OF THE BLOCKCHAIN, rather than thru a bank or institution and regulated

thus sure, like paper money, it is a SOCIAL construct determining worth and value, by those involved who HODL and the only 21 million coin cap

this social construct, like money backed, that is working also by banks etc, just seems to be working quite well  OUTSIDE  of any system of elite control

and BTC is driving the previous status quo NUTS as a result

[DoktorKopf]

LewisPirenne - I enjoy your posts. Obviously not your first time in a canoe. You're a welcome addition here, I hope you won't let the noisy ones put you off.

[RealMachasm]

So let me get this straight.
A lot of peeps were worried about the impact of S2x on BTC which may have stalled the price rise a little.
Now that the threat has dissipated, the price is going down? Why don’t peeps just hodl and make the commodity scarce and watch their wealth increase?
I guess trading isn’t a game I want to take up any time soon!