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

[600watt]

Looks like a good time to buy bitcoin??

You can scrape some more gains out of this rally but only if you can manage sell before the drop to $3K.

Says the man who sold their bitcoins accidentally  

I didnt sell accidentally. I had a stop at 11400 and then it went to 10200. Who says I didnt rebuy even more coins and now have a new stop/strategy?

It is you guys who are on another planet if you dont think a 1000% gain is going to see some kind of retracement. Historically all bitcoin rallies retrace to erase about 80% of their gains momentarily. $3K is actually quite generous of a figure. ITs so far away from $1K

wait. 80 % decrease from 11800 top would bring us to... 2360...  

i remember that one of my most wet dreams about how 2017 could end was if price would reach $2500. super bullish hopium best case wishful thinking kind of crap, you know?  not a lot of people were predicting $2500 by end of 2017.

when my best case scenario meets tera ´s worst case  scenario...    I guess ......   we FKN made it!   cheers  

thank you tera, you made my day.



edit: sry typos 

[realr0ach]

Looks like a good time to buy bitcoin??

You can scrape some more gains out of this rally but only if you can manage sell before the drop to $3K.

What happens when the common rubes on the street figure out it's not possible to create a decentralized digital currency so they have no value at all?  And when people figure out the only possible value prospect they could've had in the first place is determined by transaction flow, not stock.  Meaning value is determined entirely by scalability to facilitate mass commerce, not pretending a bitcoin which is no different than a dogcoin or 1000 other coins is somehow "digital gold".  

The future of bitcoin is just a couple corporations controlling a centralized payment network and lying to everyone claiming it's "decentralized".  It's been a centralized corporation coin ever since the first day ASICS were created, so YEARS now.  The only question is how long can the lie of decentralization last.  Information in the real world is entirely asymmetric.  Mining hardware production is mostly a derivative of this information allocation and the far right side of the bell curve, along with requiring enormous amounts of capital hoarding.  The thing is basically designed from the ground up to be controlled by corporations since nobody else can leverage that much capital + skills required to make them year after year.

If the centralized bitcoin network doesn't die, it's inevitable it will turn into "Googlecoin".

[yefi]

While I disagree with a number of TERA's positions, I do think a large retracement is on the cards in the not-so-distant future. Bitcoin has exhibited a fractally repeating pattern, do we bet against another iteration? For now though, I'll keep quiet: higher highs are the only thing that will happen.

[600watt]

snip

[sirazimuth]

This, all of this just makes me go think about that nonsense post on reddit from a few years ago:

https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

the 1st reply was priceless..

[Rosewater Foundation]

Just looked into ZeroHedge. It's trash.
http://www.zerohedge.com/news/2017-12-01/signs-market-top-pole-dancing-instructor-now-bitcoin-guru

[realr0ach]

Just looked into ZeroHedge. It's trash.
http://www.zerohedge.com/news/2017-12-01/signs-market-top-pole-dancing-instructor-now-bitcoin-guru

How is it trash?  The article mirrors the majority of people in this thread perfectly.  People like Jimbo and Jay Juan Gee don't have the comprehension or even care if bitcoin is decentralized or not, they just buy them anyway and pray their get rich quick scheme dice roll works.

[MickeyT2008]

Someone hijacked my account, it should have been inactive because I'm not trading so have had no reason to post anything here for the last couple of years.  They've been posting on this thread (which I used to post on) so I thought I should mention it here.  If any of you are involved in any sort of trading with whoever's been using this account then be aware that it's a scammer you've been dealing with, not me.

I wonder how they got hold of my login details?

[sirazimuth]

that roach character must have missed his meds.
he just posted without mentioning jews or pms....

[smartcomet]

Really? REALLY???

US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

https://btcmanager.com/us-senate-bill-s-1241-criminalize-concealed-ownership-bitcoin/

I don't know what to make of it, but it doesn't seem irrelevant.
Anyone share their thoughts?

regulate digital currency.

[Rosewater Foundation]

Just looked into ZeroHedge. It's trash.
http://www.zerohedge.com/news/2017-12-01/signs-market-top-pole-dancing-instructor-now-bitcoin-guru

How is it trash?  The article mirrors the majority of people in this thread perfectly.  People like Jimbo and Jay Juan Gee don't have the comprehension or even care if bitcoin is decentralized or not, they just buy them anyway and pray their get rich quick scheme dice roll works.

The Mike Tyson argument. Seems legit.

[lightfoot]

This, all of this just makes me go think about that nonsense post on reddit from a few years ago:

https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

the 1st reply was priceless..

Looks to be right on target and explains what happend to Friedcat as well. Cool!

[HairyMaclairy]

Really? REALLY???

US Senate Bill S.1241 to Criminalize Concealed Ownership of Bitcoin

https://btcmanager.com/us-senate-bill-s-1241-criminalize-concealed-ownership-bitcoin/

I don't know what to make of it, but it doesn't seem irrelevant.
Anyone share their thoughts?

regulate digital currency.

It’s just verification of ID for exchange accounts.  Something you have to do for most exchanges anyway.  It’s a problem for shapeshift and smart contracts, less so for bitcoin.

[JimboToronto]

I do think a large retracement is on the cards in the not-so-distant future. Bitcoin has exhibited a fractally repeating pattern, do we bet against another iteration?

Indeed that fractally repeating pattern is happening as we speak. It's all a matter of where we are in the pattern.

This is why I like to see regular corrections as we go. As long as it's a steady line on the log chart we're OK. It's when it veers upward too quickly as it did in June 2011 or late March/early April or  late November 2013 that it becomes a bubble and is destined to crash.

If we can keep the rise steady like in winter/early spring of 2011, or winter or mid-autumn of 2013, we could see some longer-lasting gains.

So far since early springtime, 2017 has been nice and steady, correcting whenever it's gotten close to running away:



Eventually it will almost surely move up to quickly and crash. Last year I thought that it would make it to $6k-$8k and crash to maybe $2k. We've already passed that and we're still going relatively smoothly.

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

Just my 2 satoshis.

[Syke]

If we can keep the rise steady like in winter/early spring of 2011, or winter or mid-autumn of 2013, we could see some longer-lasting gains.

Those previous rallies felt much steeper than this one. Gives me hope!

[jojo69]

...

Eventually it will almost surely move up to quickly and crash. Last year I thought that it would make it to $6k-$8k and crash to maybe $2k. We've already passed that and we're still going relatively smoothly.

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

Just my 2 satoshis.

[savetherainforest]

This, all of this just makes me go think about that nonsense post on reddit from a few years ago:

https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

the 1st reply was priceless..

Looks to be right on target and explains what happend to Friedcat as well. Cool!

He probably read that post 4+ years ago and did lots of meditating about his future.

[Rosewater Foundation]

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

This sounds horrible.

[gembitz]

I do think a large retracement is on the cards in the not-so-distant future. Bitcoin has exhibited a fractally repeating pattern, do we bet against another iteration?

Indeed that fractally repeating pattern is happening as we speak. It's all a matter of where we are in the pattern.

This is why I like to see regular corrections as we go. As long as it's a steady line on the log chart we're OK. It's when it veers upward too quickly as it did in June 2011 or late March/early April or  late November 2013 that it becomes a bubble and is destined to crash.

If we can keep the rise steady like in winter/early spring of 2011, or winter or mid-autumn of 2013, we could see some longer-lasting gains.

So far since early springtime, 2017 has been nice and steady, correcting whenever it's gotten close to running away:



Eventually it will almost surely move up to quickly and crash. Last year I thought that it would make it to $6k-$8k and crash to maybe $2k. We've already passed that and we're still going relatively smoothly.

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

Just my 2 satoshis.

max keiser says the cost to make a bitcoin is $1OOO :-D wut

[TheJuice]

If we can keep from bubbling up, we might make it to $50k-$60k before crashing to somewhere higher than we are now.

This sounds horrible.

I'll take a rise to 50k. I've got predefined sell points, so I'd take some off the table at those levels.