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

[jojo69]

Ok what are predictions for this weekend’s FUD bomb?   

I think it's time for another quantum computing breakthrough.

chuckle

[HairyMaclairy]

Monero going up a bit too fast for my liking.  19% in 24 hours.  Rocketed past Iota in the last 12 hours now 7th on Coinmarket cap.  It’s good but it doesn’t even have a hardware wallet yet.

[itod]

Monero going up a bit too fast for my liking.  19% in 24 hours.  Rocketed past Iota in the last 12 hours now 7th on Coinmarket cap.  It’s good but it doesn’t even have a hardware wallet yet.

Like hardware wallet is important to traders, they don't give a damn.

[BTCMILLIONAIRE]

Do they imagine once the rewards run dry these goons will mine txns for free?

There is an interesting idea that whales will become miners and mine their own fees back. In which case whales/miners get free transactions. Unlike those users who aren't miners

Free transactions look different though. They'll still pay for electricity, hardware and maintenance.

[HairyMaclairy]

Do whales care about fees?  I would have thought they just do a few massive transfers rather than lots of little ones.

[BTCMILLIONAIRE]

Do whales care about fees?  I would have thought they just do a few massive transfers rather than lots of little ones.

Depends on the whale I guess? Some whales love throwing around their money, others are too stingy to splurge on good food.

[savetherainforest]

I predicted on here years ago that when you can buy Bitcoins with a normal brokerage, bitcoin would surge to $10K.  Now up at $8K we get news that BTC will be listed on CME? I dont know what to make of it now that we are already up here. Then the price moves just 10%? I guess insider knowledge of this is what was fueling the rally all along.

Unfortunately the culture of hoarding (hodling) means we are suffering a paucity of coins.  Suggest you revise your prediction upwards.  

personally i think this is the last strong bull phase for bitcoin.  certainly at the moment to buy at 8250 and hope for a 5% rise.  Remember the last bubble, same people saying the same things.  

There are lots of other cryptos that do the same thing better, with more features, faster.  Some have genuine worth and serve an actual purpose.  This bubble IMHO is about to pop.  and lots of new bag holders will be born waiting for months / years for bitcoin to return to where it is. last peak was Dec 2013, 4 years later here we are.  usually the time between bubbles / peaks  is roughly 4 times longer each time.  so we could be looking at 16 years.    In that time im sure bitcoin will not be number 1 any longer.  

Holy fuck... you are coming off as either extremely negative or a troll who is painting a kind of lesser likely and worse case scenario.

I will give it to you that we are experiencing a quite exorbitant BTC price rise, especially when we look at the past two years and the increasing steepness of the curve in recent months.... however, in the end, I don't think that we have quite reached the top, until perhaps if we have a blow-off event, and part of my thinking is attributed to the ongoing recent investments into bitcoin including financial instruments and also bitcoin's seeming dominance / resilience over the recent forkening attempts.

Also, sometimes we cannot really appreciate what has happened until we look at it in retrospect and hopefully attempt to account for the most relevant and material factors, including the quickness in which the price has risen and including the extent to which there has been meaningful price corrections in the upwards journey process.

Maybe we can agree to some history, including the fact that bitcoin experienced nearly a two year bear run in 2014 and 2015 - and confirmed to be out of the bear run in about May/June 2016....

Once bitcoin was out of the bear run (transitioned into a bull run), we can still use the approximate $250 price stability point of 2015 as our starting reference.  Accordingly, it took about a year to triple to $750-ish, and then it took about 9 more months to triple again to $2,500-ish.. .and then it took about 3 months to triple again to $7,500-ish....

Since we are currently in the $7,500-ish price territory it is not easy to determine if this is a stability point, but I suspect that we could achieve at least one more decent blow-off - upwards, and in part I attributed that upwards likelihood to news points that I already mentioned above (namely entrance of additional traditional financial instruments into bitcoin and bitcoin's resilience/dominance in the forkening threats).  Another significant factor remains bitcoin's recent experience of two significant price corrections, which cause additional upwards fuel.  The mid-September correction was clearly and unambiguously 40% from $4,980 to $2,970, and the second correction from a couple weeks ago was clearly and unambiguously 30% from $7,888 to $5555.55......

My point is that we have decent room for another blow-off upwards, and we could get another 3x upwards price from here, and depending upon how quickly it goes up and whether there are corrections along the way could justify the extent to which there will be a crash and the extent to which any such speculated crash will be sustained... so for example, if we shoot up an additional 3x from here without a correction, then yeah, we could thereafter experience a quite considerable and sustained correction.. but it is yet to be seen and determined how quickly we are going up (if so), and since the probabilities of UP seem greater than the probabilities DOWN, we have to witness these first before we speculate too hot and heavily about our desires for down (because it seems to premature to conclude that we are currently over-inflated based on factors that I already have described in this post).

- J J G ... can u make next time a recursive string assigned to a variable pointing out to or holding the value of the swear your inserted in the first line, and writing it next time at the end of the post so we can read something relevant from your gibberish text wall?? Even if we manage, some of us to just read 3-4 lines of text from your message... And ofc, make reference to that variable assigned to the swear first so we can know your political agenda statement at the end, but not blinding us with hate from your first line of statement, that is full of irrelevant political opinions you have about things or ppl. .. and btw... you still write too much.


Also... related to this whole situation. I think that they want us to sell. They feel that this is a good price for people to be convinced into selling and being left butt naked behind. And all those that hodl and get their coins out of the exchanges will have the most to win. Basically they are counting on the confidence of the dump. They have plenty of fiat, they will throw very much fiat at their screens with endless zeroes at their end, numbers that will try to buy all the sellouts. At least this they figured out. And people then will sell their souls for daily labor for pennies / micro satosh.

I advice on hodling, and taking out your coins out of the exchanges.

[HairyMaclairy]

Agreed but I think almost all weak hands shaken out at $5600.  Money badger don’t care no more.

[savetherainforest]

Agreed but I think almost all weak hands shaken out at $5600.  Money badger don’t care no more.

Do Not Sell. They will burn you at the stake.

They want you to feel confidence. They are like sharks smelling blood from miles away. It will go up to $20k - $30k very easy in the next month or two.

We just had a correction. There is no reason for the price to be going down. I advise withdrawing your coins from the exchanges into cold storage until the true bubble starts.

[bones261]

This mempool spam is starting to concern me. Growing close to 60mb of transactions between 0-5sat.

It's probably Wu and friends wanting to cash in on transaction fees while at the same time make Bitcoin look bad. The only problem with him driving up the Bitcoin fees is that many pools are less likely to have their profit switching algorithms switch to mining Bitcoin Cash instead. However, pools like Antpool will switch since Antpool doesn't distribute the fees to the miners. (In exchange the miners have no pool fee and may even get a promotional "bonus" of 3-5%)

[Icygreen]

As bitcoin's price has gone up significantly over the past year, its forced me to examine several aspects of my own psyche. Mostly greed and fear. I've been beaten down every time I got greedy and rewarded for holding and sticking to my beliefs.
Lately I've been considering the possibility that the larger unidentified market makers could actually be benevolent and hold greater visions for BTC despite the popular belief that bitcoin market manipulation is used for personal gain.

An entire civilization raised on the ideals of capitalization and control cannot conceive immediately a system which does not aim to "take" but rather give freely to the benefit of all.
It's true that it is not decided what bitcoin will become or if it will succeed but it's evident that this is our opportunity and no others are currently on the horizon.
I think the real success of BTC will be in its ability to change greed constructs.

Yes, I know, echo chamber.  Just had to write that thought out.

I'm liking this current ascending triangle. Should break within the day.
 
  

[DieJohnny]

I predicted on here years ago that when you can buy Bitcoins with a normal brokerage, bitcoin would surge to $10K.  Now up at $8K we get news that BTC will be listed on CME? I dont know what to make of it now that we are already up here...

... Suggest you revise your prediction upwards.  

....and lots of new bag holders will be born waiting for months / years for bitcoin to return to where it is. last peak was Dec 2013, 4 years later here we are.  usually the time between bubbles / peaks  is roughly 4 times longer each time.  so we could be looking at 16 years.    In that time im sure bitcoin will not be number 1 any longer.... 

we have decent room for another blow-off upwards, and we could get another 3x upwards price from here

I think that they want us to sell.
I advice on hodling....

Bitcoin has not had a constant three year march from $200 to $8200 simply because wall street just happens to be pumping bitcoin for the big dump.

Each of the six or so dips in the last three years has been nothing more than an attempt to take your coins from your weak hands. The march continues relentlessly because bitcoin is the immortal hedge against EVERYTHING.

As edgy as other coins are the masses cannot comprehend the differences and will ALWAYS choose Bitcoin over all others, always.

Does anyone believe that Bitcoin is going to correct 75% without having its typical end-of-rally blow off exponential top. This has not happened in three years. Just look at the log chart. Bitcoin is still waiting for a 4 week blow off spike that is 3-6X above where we are now.

In a Jupiter or Neptune scenario there will be a traditional market correction and a bitcoin spike maybe 20-100X from where we are, and bitcoin will over night become the global store of value you have only imagined in your craziest of dreams. There is currently global access like there has never been before. Big money will always move towards capital preservation, always. HODL. NEVER sell all of your bitcoin, ever.

I think the only legit hedges against bitcoin are the anon coins: XMR, ZCash, Dash, et cetera. I also like the more efficient bitcoins LTC, Doge, et cetera. Platform coins to me feel like MySpace and will be a footnote in history.

[AZwarel]

Agreed but I think almost all weak hands shaken out at $5600.  Money badger don’t care no more.

Do Not Sell. They will burn you at the stake.

They want you to feel confidence. They are like sharks smelling blood from miles away. It will go up to $20k - $30k very easy in the next month or two.

We just had a correction. There is no reason for the price to be going down. I advise withdrawing your coins from the exchanges into cold storage until the true bubble starts.

This is one of my favorites about bitcoin "bubbles" and selling/taking profit: https://www.youtube.com/watch?v=XbZ8zDpX2Mg

All the sad pandas over here: i buy since 2014, and never sold to this day - apart from spending on services/goods -, hodl. i did not care about the 2 years of bear market, i have accumulated more BTC, those were the golden years to stock up!

Hodl. I will not sell, ever. I will use bitcoin directly, to buy everything i plan to have, that way, i never have to sell. It will come.

[Paashaas]

It's 100% scam, the design is similar to S9/S7 he just replaced the sticker and made a fake stat

https://twitter.com/adam3us/status/933348194062360577

Au contraire?

+1 For making Bitcoin mining decentralized.

[BTCMILLIONAIRE]

It's 100% scam, the design is similar to S9/S7 he just replaced the sticker and made a fake stat

https://twitter.com/adam3us/status/933348194062360577

Au contraire?

+1 For making Bitcoin mining decentralized.

I've actually been toying with the idea of getting back into mining. I don't really care for it from an economical perspective, but this whole Bitmain/BCash clown fiesta has got me thinking.

[JayJuanGee]

[edited out]

- J J G ... can u make next time a recursive string assigned to a variable pointing out to or holding the value of the swear your inserted in the first line, and writing it next time at the end of the post so we can read something relevant from your gibberish text wall?? Even if we manage, some of us to just read 3-4 lines of text from your message... And ofc, make reference to that variable assigned to the swear first so we can know your political agenda statement at the end, but not blinding us with hate from your first line of statement, that is full of irrelevant political opinions you have about things or ppl. .. and btw... you still write too much.

Your guidance is so informative and insightful, and I am likely to benefit mucho from your knowledgeable advices....





NOT   

 

[Heater]

Yes, I know, echo chamber.  Just had to write that thought out. 

And I need to spit this out.

When I acquired my bitcoins, I promised I would hold them for 10 years – I knew it would take a long time for such a radical idea to be understood and accepted.

This year we had an interesting transition from pushing the blockchain concept back to the core Bitcoin value proposition. A small increase in understanding translated to a big price jump. The ecosystem is in much better shape these days but there is still a long way to go before Bitcoin is normalised into our society. You will know the price is levelling off when:

• The BTC price is reported in the daily newspapers and on the evening TV news bulletin just like shares, commodities and exchange rates are today
• People stop saying “only invest what you can afford to lose”
• It’s recommended top have x% of crypto in your retirement saving account
• The faces of Bitcoin in the media are professional looking and neither nerds nor conspiracy theorists

This all hit home when I watched this video recently thanks to Jimmy Song:
https://www.youtube.com/watch?v=TerIjELO7IY

Here we have a mix of current day BTC personalities: Jimmy Song, Tone Vays, Bitfinex’ed, BTCVix and Flibber.
I will refrain from commenting on these guys individually suffice to say it won’t be like this in years to come. Instead it will be presented more like this:
http://www.abc.net.au/news/2017-11-17/bitcoin-hits-record-high/9163794

I will say I was astounded by the comments from BTCVix and Flibber about Bitfinex. I sense delusion going on - they risk ending up looking like these guys. If you have been warned ahead of time and you decide to leave your money there because of pure emotions and then think it's somehow smart to double down on the stupidity and fly to Japan and ask for your money back and let people take photos of you??? Don't do this. If Finex does go down at least take it like a man.

[Elwar]

As bitcoin's price has gone up significantly over the past year, its forced me to examine several aspects of my own psyche. Mostly greed and fear. I've been beaten down every time I got greedy and rewarded for holding and sticking to my beliefs.
Lately I've been considering the possibility that the larger unidentified market makers could actually be benevolent and hold greater visions for BTC despite the popular belief that bitcoin market manipulation is used for personal gain.

An entire civilization raised on the ideals of capitalization and control cannot conceive immediately a system which does not aim to "take" but rather give freely to the benefit of all.
It's true that it is not decided what bitcoin will become or if it will succeed but it's evident that this is our opportunity and no others are currently on the horizon.
I think the real success of BTC will be in its ability to change greed constructs.

Yes, I know, echo chamber.  Just had to write that thought out.

I'm liking this current ascending triangle. Should break within the day.

Bitcoin does not survive without greed. It is built in. The point made was that by getting bitcoins out early to people that could develop it into something better was so that those developers were incentivized to make Bitcoin into something great based on greed, the fact that they held a bunch of bitcoins and their value increased based upon how much effort they put into making it better.

Having a depreciating currency also taps into peoples' greed of having more value down the road by keeping more bitcoins which perpetuates the rising value by making it more scarce.

If you think it is greedy to cash out, it's a non-factor since you're transferring value for equal value which is not greedy.

Greed, for lack of a better word, is good.

[Dabs]

I've actually been toying with the idea of getting back into mining. I don't really care for it from an economical perspective, but this whole Bitmain/BCash clown fiesta has got me thinking.

About 1 BTC gets you 5 miners (the minimum order) and 5 PSUs ... and probably shipping.

According to mining calculators, you should get that back in 2 or 3 months. If difficulty goes up by the time they ship in March 2018, or even April 2018, suddenly your miners need 3 to 6 months before ROI. Maybe more.

[Icygreen]

Point taken Elwar,
In my case, I was selling in order to buy lower - to acquire more bitcoin for free. This is the type of greed that has gotten me in trouble in the past. Of course you can see the problem with greed in our society and the power imbalance it has created. I agree, greed is built in and I'm beginning to change my relationship to value with the aid of BTC.