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

[Arriemoller]

BCH getting pumped for the weekend.  $1400.  Maybe the PND will be Friday night just to mix it up a little bit.

I get "Punk Nigga Deceased". From the Eazy E song Ole School Shit.
And Postnatal Depression. Witch one is it?

[Arriemoller]

If an r is a rabbit is a K a Kangaroo?

No, kangaroos are big rabbits, "R".

[elrippos friend]

This is today’s article from The Australian (a national newspaper and it is the most bullish thing I have read in the mainstream media.   You can skip most of it but read point 4.

Why Bitcoin Will Fail

As bitcoin — an alternative global currency — breaks another new record with a serious jump in value this week to cross $US8,300, one of the world’s biggest banks has spelled out why it won’t work.
 
Paris based BNP Paribas has gone beyond the usual arguments about crime, security and tax evasion to pinpoint why bitcoin can’t fulfil the promise at the heart of its success — to offer consumers an alternative means of exchange to banks and currencies as we know them.
 
The French Bank is reacting to the growing acceptance of bitcoin and other cryptocurrencies around the world. In Japan, bitcoin has been accepted as “a legitimate method of payment,” while in the US, the Chicago Mercantile Exchange is planning to trade bitcoin futures.
Here’s the main flaws from BNP Paribas:
 
1. It offers no lender of last resort — Every shaky European bank would certainly understand quickly the importance of this function in a currency. If there is a crisis, bitcoin has no well funded regulator to step in and cover losses. BNP says in that scenario consumers would rush to find real cash which could in turn create a run on banks, the biggest nightmare in the financial system.
 
2. Deflation — Though speculators love that there is only a finite number of bitcoins, this means you have the opposite of inflation as a looming problem. With just 16.7 million bitcoins in circulation, the risk of inflation is eliminated but deflation, already an issue in global trade, could cause a range of problems in the future.
3. Unreliable exchange of value — Bitcoin’s wildly fluctuating share price is perfect for traders but hell for consumers if they wish to use it in any significant fashion.
 
4. No profits for central banks — If bitcoin genuinely starts to replace cash as we know it central banks will lose a key source of income called seigniorage, which is the profit they get from printing money. No government will want to subsidise central banks which have lost a revenue source.
 
In short, BNP Paribas infers bitcoin could undermine the global monetary system as we know it. On that basis that bank suggests a global coordinated move to regulate bitcoin is on the cards. In Sydney, AMP chief economist Shane Oliver has also been looking at the issue. Usefully, Oliver says he does not
fully understand bitcoin (who really does?) and though he worries it is a bubble he also says there is every chance the value of bitcoin may keep going up for some time. Intriguingly, Oliver also floats the idea that bitcoin and its cryptocurrency variants may survive — or at least the blockchain technology behind them may survive. But Oliver believes the cryptocurrencies of the future will be official just like the legal tender of notes and coins of today.

Love the butthurt.

A bank run would not be a problem if banks actually had the money they pretend they have.

Deflation is a good thing for normal people, but bad for banks. The Establishment and The People will ever be at odds.

Fuck the banksters.

+1
The banksters have a big problem with bitcoin and they state their own flaws in this reading 

[gembitz]

This is today’s article from The Australian (a national newspaper and it is the most bullish thing I have read in the mainstream media.   You can skip most of it but read point 4.

Why Bitcoin Will Fail

As bitcoin — an alternative global currency — breaks another new record with a serious jump in value this week to cross $US8,300, one of the world’s biggest banks has spelled out why it won’t work.
 
Paris based BNP Paribas has gone beyond the usual arguments about crime, security and tax evasion to pinpoint why bitcoin can’t fulfil the promise at the heart of its success — to offer consumers an alternative means of exchange to banks and currencies as we know them.
 
The French Bank is reacting to the growing acceptance of bitcoin and other cryptocurrencies around the world. In Japan, bitcoin has been accepted as “a legitimate method of payment,” while in the US, the Chicago Mercantile Exchange is planning to trade bitcoin futures.
Here’s the main flaws from BNP Paribas:
 
1. It offers no lender of last resort — Every shaky European bank would certainly understand quickly the importance of this function in a currency. If there is a crisis, bitcoin has no well funded regulator to step in and cover losses. BNP says in that scenario consumers would rush to find real cash which could in turn create a run on banks, the biggest nightmare in the financial system.
 
2. Deflation — Though speculators love that there is only a finite number of bitcoins, this means you have the opposite of inflation as a looming problem. With just 16.7 million bitcoins in circulation, the risk of inflation is eliminated but deflation, already an issue in global trade, could cause a range of problems in the future.
3. Unreliable exchange of value — Bitcoin’s wildly fluctuating share price is perfect for traders but hell for consumers if they wish to use it in any significant fashion.
 
4. No profits for central banks — If bitcoin genuinely starts to replace cash as we know it central banks will lose a key source of income called seigniorage, which is the profit they get from printing money. No government will want to subsidise central banks which have lost a revenue source.
 
In short, BNP Paribas infers bitcoin could undermine the global monetary system as we know it. On that basis that bank suggests a global coordinated move to regulate bitcoin is on the cards. In Sydney, AMP chief economist Shane Oliver has also been looking at the issue. Usefully, Oliver says he does not
fully understand bitcoin (who really does?) and though he worries it is a bubble he also says there is every chance the value of bitcoin may keep going up for some time. Intriguingly, Oliver also floats the idea that bitcoin and its cryptocurrency variants may survive — or at least the blockchain technology behind them may survive. But Oliver believes the cryptocurrencies of the future will be official just like the legal tender of notes and coins of today.

Love the butthurt.

A bank run would not be a problem if banks actually had the money they pretend they have.

Deflation is a good thing for normal people, but bad for banks. The Establishment and The People will ever be at odds.

Fuck the banksters.

+1
The banksters have a big problem with bitcoin and they state their own flaws in this reading  

~not surprised whereas da French are such arrogant protectionists ~ these banksters are feeling really threatened by bitcoin!!    #occupyBTC

[Phil_S]

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....

Funny, but I've been making this graph, to show how last 5 doubling events since $250 look like two distinct exponents:

270 days
270 days
90 days
90 days
90 days



The question is, how much longer the second exponent will last...

[HairyMaclairy]

Looks like 10k by Xmas to me.

[mike4001]

Looks like 10k by Xmas to me.

Bitcoin possibly.

Bitcoin + Bitcoin Cash (long term) holders absolutely.

[jonoiv]

Looks like 10k by Xmas to me.

Bitcoin possibly.

Bitcoin + Bitcoin Cash (long term) holders absolutely.

awww you guys , so sweet.  Why don't you get a room, explore each others orifices, and climb into a big hot soapy bath together.

You can reassure each other while the price tanks down to 6200...  

[flynn]

Looks like 10k by Xmas to me.

Bitcoin possibly.

Bitcoin + Bitcoin Cash (long term) holders absolutely.

and IMO (Bitcoin - Bitcoin Cash) too !

[ragnar0k]

Looks like 10k by Xmas to me.

Bitcoin possibly.

Bitcoin + Bitcoin Cash (long term) holders absolutely.

awww you guys , so sweet.  Why don't you get a room, explore each others orifices, and climb into a big hot soapy bath together.

You can reassure each other while the price tanks down to 6200...  

Have you decided to go full troll jonoiv?

[jonoiv]

Looks like 10k by Xmas to me.

Bitcoin possibly.

Bitcoin + Bitcoin Cash (long term) holders absolutely.

awww you guys , so sweet.  Why don't you get a room, explore each others orifices, and climb into a big hot soapy bath together.

You can reassure each other while the price tanks down to 6200...  

Have you decided to go full troll jonoiv?

Yep...  I have, i don't want one single person to lose their money.

The coin is oversold.  why would people (or bots) sit on this thread and encourage noobs to buy it, when deep down even the hardest bull knows it's the end for now.

Would you recommend your grandma to buy at 8150 ?  Please answer that question.

[BitcoinBunny]

[Coinnosaurus]

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 hope that this is true and Jihan will get rekt

[ragnar0k]

Looks like 10k by Xmas to me.

Bitcoin possibly.

Bitcoin + Bitcoin Cash (long term) holders absolutely.

awww you guys , so sweet.  Why don't you get a room, explore each others orifices, and climb into a big hot soapy bath together.

You can reassure each other while the price tanks down to 6200...  

Have you decided to go full troll jonoiv?

Yep...  I have, i don't want one single person to lose their money.

The coin is oversold.  why would people (or bots) sit on this thread and encourage noobs to buy it, when deep down even the hardest bull knows it's the end for now.

Would you recommend your grandma to buy at 8150 ?  Please answer that question.

Yup, I bought my parents some for christmas. All predictions expect btc to go up in the coming years and new mining alternatives are coming in 2018, so people exploiting monopolies now can stay stuck on bch

[BitcoinBunny]

The Chinese are masters at imitation. It is only a matter of time when there are 1000 Bitmains surely.

[jonoiv]

Looks like 10k by Xmas to me.

Bitcoin possibly.

Bitcoin + Bitcoin Cash (long term) holders absolutely.

awww you guys , so sweet.  Why don't you get a room, explore each others orifices, and climb into a big hot soapy bath together.

You can reassure each other while the price tanks down to 6200...  

Have you decided to go full troll jonoiv?

Yep...  I have, i don't want one single person to lose their money.

The coin is oversold.  why would people (or bots) sit on this thread and encourage noobs to buy it, when deep down even the hardest bull knows it's the end for now.

Would you recommend your grandma to buy at 8150 ?  Please answer that question.

Yup, I bought my parents some for christmas. All predictions expect btc to go up in the coming years and new mining alternatives are coming in 2018, so people exploiting monopolies now can stay stuck on bch

Have a word with yourself!


aww a depreciating asset, i'm sure they'll be stoked

[gentlemand]

The Chinese are masters at imitation. It is only a matter of time when there are 1000 Bitmains surely.

It does go to show that Bitmain are doing something extremely right to have had such a monopoly for such a long time. Them chips don't design and make themselves.

[ragnar0k]

Looks like 10k by Xmas to me.

Bitcoin possibly.

Bitcoin + Bitcoin Cash (long term) holders absolutely.

awww you guys , so sweet.  Why don't you get a room, explore each others orifices, and climb into a big hot soapy bath together.

You can reassure each other while the price tanks down to 6200...  

Have you decided to go full troll jonoiv?

Yep...  I have, i don't want one single person to lose their money.

The coin is oversold.  why would people (or bots) sit on this thread and encourage noobs to buy it, when deep down even the hardest bull knows it's the end for now.

Would you recommend your grandma to buy at 8150 ?  Please answer that question.

Yup, I bought my parents some for christmas. All predictions expect btc to go up in the coming years and new mining alternatives are coming in 2018, so people exploiting monopolies now can stay stuck on bch

Have a word with yourself!


aww a depreciating asset, i'm sure they'll be stoked

Yes, Ill tell them: see, all reliable sources expect it to go up, but jonoiv, a random guy who got rekt several times, says we are going to 0!
Stop trolling dude, live and let die if so!

[AlcoHoDL]

aww a depreciating asset, i'm sure they'll be stoked

Awww... I've read this so many times before, in this very forum...

When BTC was at $10 it was way overpriced and we should have sold...
When BTC was at $100 it was a bubble ready to pop and we should have sold...
When BTC was at $1000 it was whales manipulating the price and we should have sold...
Now BTC is at $8000+ it's a depreciating asset and we should sell...
When BTC will be at $25000 [...add FUD text here...]
When BTC will be at $100000 [...add FUD text here...]
...

Verba volant, scripta manent.

[AlcoHoDL]

Guys, have all of you sold your Bitcoin Gold (BTG)?

I'm itching to sell them now, and do the following:

1. Buy Monero,
2. Buy more BTC.

What would you recommend? Should I sell my BTG now, or wait for a pump? And if I should sell now, which one of the two options would you recommend? I know this is altcoin territory, but it feels natural to ask here as I value your wisdom and opinion, and I'm sure many of you HoDL some altcoins in addition to BTC.

So, Bitcoiners, wait or sell your Gold, and what to buy?