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

[JimboToronto]

This guy gets it:

https://www.youtube.com/watch?v=ukjDCeuNK3Y

Also:
https://twitter.com/saifedean

Most people who buy Bitcoin don't share its political vision; they buy it to get rich. But Bitcoin doesn't care, they are fueling its rise as a monetary standard. Bitcoin doesn't need your intellectual acceptance; your self-interest will force you to use it sooner or later.

For hodlers, getting rich is a secondary side effect of doing the right thing: getting the world onto an infinitely better monetary standard & killing government money.

A new hero.

Indeed. He really seems to understand. Thanks for the link.
__________

When I first learned about Bitcoin it was its decentralization and the disruptive nature of its technology that fascinated me.

When I first heard of Napster, it wasn't the free music that primarily interested me, it was the concept of peer-to-peer networking and filesharing. I then watched the gradual decentralization as it evolved through Gnutella/Kazaa on to Bittorrent and then magnetlinks. I saw the Piratebay move to redundant virtual servers in the cloud.

I loved the evolution of Wikipedia from a sketchy mishmash of articles posted by biased individuals to a peer-reviewed trustworthy source of information. Wikipedia itself may be centralized but its content is decentralized, vetted by a worldwide community of volunteers. Every side of every story gets heard. It's up to the individual to decide what's BS and what's not.

When a friend first told me about the Silk Road, it wasn't the access to contraband that interested me, it was this revolutionary p2p decentralized open-source money that grabbed me. It was a mind-blowing moment. What the internet itself was to information, Bitcoin could be to wealth. It was obviously a big part of the real New World Order, in which power moved from churches, governments and other corporations, and into the hands of decentralized global communities of individual volunteers.

Marshall Mcluhan was right. The global village has become reality.
__________

I didn't get involved in Bitcoin to acquire wealth. I bought mining hardware before I ever bought coins.

The wealth I eventually acquired from Bitcoin was strictly a byproduct of wanting to do something good for the world.

[JayJuanGee]

A double top was only the top of the China bubble in late 2013. Every other bubble had a single top.

O.k.    Seems like I am receiving training regarding the anatomy of a bubble, and bubble trouble.


What do you call it when a Tera Bera calls a bubble since around $2.5k... ?




hahahahaha


I am giving Tera Beara some benefit of the doubt because she was absent for over a year, so she was not calling a btc bubble between about $250 and $2.5k like a lot of the other various chicken littles, who seemed to end up being wrong.

So possibly part of the less on is that you cannot really know what is a bubble, until it pops, right, and not until quite a while after the fact.  So, surely, if you keep calling a bubble, sooner or later you are going to be correct; however, you don't really become a smartie pants, just because you ended up getting it right.. because as long as you keep calling it, you are gonna be right at some point, whether that is now in the $16k to $17k territory or whether that is in the $35k territory, or the $100k territory - yet if it pops at $100k, then at some point prior to $100k, you are not really very convincing if you have been calling it since $250 or $2,500.

amirite?

[404Revolution]

Food for thought: you are going to see vendors start switching from taking bitcoin to litecoin. The average fee today for a bitcoin transaction was $21. For litecoin 27 cents. Vendors are getting stuck bitcoin transactions and are no longer willing to deal with it. Why do you think the price of litecoin is going through the roof?

Litecoin is a junk fork, its only use is salvaging your money from bitfinex and ripping off people.

[TERA2]

A double top was only the top of the China bubble in late 2013. Every other bubble had a single top.

O.k.    Seems like I am receiving training regarding the anatomy of a bubble, and bubble trouble.


What do you call it when a Tera Bera calls a bubble since around $2.5k... ?




hahahahaha


I am giving Tera Beara some benefit of the doubt because she was absent for over a year, so she was not calling a btc bubble between about $250 and $2.5k like a lot of the other various chicken littles, who seemed to end up being wrong.

So possibly part of the less on is that you cannot really know what is a bubble, until it pops, right, and not until quite a while after the fact.  So, surely, if you keep calling a bubble, sooner or later you are going to be correct; however, you don't really become a smartie pants, just because you ended up getting it right.. because as long as you keep calling it, you are gonna be right at some point, whether that is now in the $16k to $17k territory or whether that is in the $35k territory, or the $100k territory - yet if it pops at $100k, then at some point prior to $100k, you are not really very convincing if you have been calling it since $250 or $2,500.

amirite?

Here is a quote of me saying btc was a good buy when it was 2.5K

Good time for bitcoin that has only gained 120% in a modest grwoth rally.

Terrible time for Ethereum that is up 5,000% in a crazy bubble.

Dont pull things out of your ass to create drama. I didnt start calling corrections until at least 8K when I created this account in Nov 7.

[Searing]

Food for thought: you are going to see vendors start switching from taking bitcoin to litecoin. The average fee today for a bitcoin transaction was $21. For litecoin 27 cents. Vendors are getting stuck bitcoin transactions and are no longer willing to deal with it. Why do you think the price of litecoin is going through the roof?

Litecoin is a junk fork, its only use is salvaging your money from bitfinex and ripping off people.

transaction fees ...the huge diff in transaction fees...moving BTC to and fro...vs LTC to an fro

IN that currently, LTC is faster and has all the hooks of the current seg witness etc that BTC has

gonna be hard to ignore LTC for purchases vs BTC if this price of LTC holds or grows

just saying,

[HairyMaclairy]

The major exchanges are within $300 of each other. How odd. 

[JimboToronto]

Litecoin is a junk fork, its only use is salvaging your money from bitfinex and ripping off people.

Litecoin isn't a fork. It's an alternative cryptocurrency with a different hashing algorithm, whose original primary function was to demonstrate how easy it was to copy the Bitcoin formula.

It became more widely adopted after the advent of SHA256 ASICs because it extended the useful life of GPU miners by using Scrypt.

[JayJuanGee]

*grumbling under his breath* stupid futures and their stupid... Whatever they do... Stupid price dropping... Dumb bitcoin, going thy wrong way...


(to be clear, i'm not serious in any manner. Just wondering whats driven stamp down below 16k. And annoyed that my list buy was at 16740 or something...)

But you are the one who sets your buy and your sell orders, right?

The top, so far, has been $17,270, so if you been into bitcoin for a while, it seems strange to set buy orders that are so high, no?

Just to use myself as an example regarding my orders on bitstamp for today, I had one sell order execute at $15,850-ish, and then I had another sell order execute at $16,850, and then I had a buy order execute at $16k - ish. 

So, I am a bit unclear how your buy would be so close to the top, unless you sold some near today's top... .. and if you did, then it is not a big deal if you bought some back so high... that is $500 below the top, which is about 3%.

Even though my current increments are between 4% and 6%, I used to trade in 1.5% increments, just for practice and just to set up buy and sell orders.   I know some high volume and high frequency traders set their bots for less than 1%, but gosh probably need a bot for that, especially with the intensity of these recent price movements.

[JayJuanGee]

Meanwhile, cost on Bitcoin bCash? Less than two pennies. Plus its being discussed on national financial news. Litecoin? Not so much.

[https://i.imgur.com/oKoNJc3.png[/img]
 

I question whether I should quote the diagram for your little Bcash pump scheme... I fixed the spelling for you above.

You are engaging in Bcash pumping in a bitcoin thread... what is your purpose?  

You think that is a relevant topic?

Of course, you don't really believe in bcash because otherwise you would sell all of your bitcoin and invest in bcash and participate in the bcash discussions and promote your stupid-ass little sabotage coin..... but instead, you won't sell your bitcoin , and you just want to complain about bitcoin, spam the bitcoin network, and then make up shit that your little sabotage coin is better or to try to suggest that it is the real bitcoin, and that is why you refuse to call it by its less ambiguous name.

Maybe it is hope, hope, hope, and maybe you will get lucky?    But I think even the public at large understands that bcash is not going to become the new bitcoin, and that could be part of the reason that some money is flowing into litecoin because no one (except for a few nutjob zealots or some confused folks) wants to put any of their money into sabotage coin, right?

[HairyMaclairy]

Reddit two weeks ago.

[Searing]

Meanwhile, cost on Bitcoin bCash? Less than two pennies. Plus its being discussed on national financial news. Litecoin? Not so much.

[https://i.imgur.com/oKoNJc3.png[/img]
 

I question whether I should quote the diagram for your little Bcash pump scheme... I fixed the spelling for you above.

You are engaging in Bcash pumping in a bitcoin thread... what is your purpose?  

You think that is a relevant topic?

Of course, you don't really believe in bcash because otherwise you would sell all of your bitcoin and invest in bcash and participate in the bcash discussions and promote your stupid-ass little sabotage coin..... but instead, you won't sell your bitcoin , and you just want to complain about bitcoin, spam the bitcoin network, and then make up shit that your little sabotage coin is better or to try to suggest that it is the real bitcoin, and that is why you refuse to call it by its less ambiguous name.

Maybe it is hope, hope, hope, and maybe you will get lucky?    But I think even the public at large understands that bcash is not going to become the new bitcoin, and that could be part of the reason that some money is flowing into litecoin because no one (except for a few nutjob zealots or some confused folks) wants to put any of their money into sabotage coin, right?

Some of the 'tactics' are mining. I had a buddy pm me that he is making $5 a day now with a 2014 KNC 3TH Neptune Miner on BCH. Thus, it is a way, IMHO, for big china miners and others,

(and of course, bitmain using ASIC boost for 15% more profits, which does not work with seg witness BTC anymore), as a way to get some mining use out of their older ROI'd machines

longer. Long term, they are simply going to get BTC or other alts with BCH when even that does not work anymore.....and this game can't be played anymore, pretty obvious how BCH

is being used, and why all the FUD against BTC. Toss in the spam on the BTC network to drive up transaction fees for users to miners and we are talking some real $$$. Funny how the spam

all went away this last summer/fall when folk thought segwit2 had a shot. (silly, funny, hairless, primate, naked, humans..tossing poo.....its a wonder anything works)

usual games rinse/wash/repeat

[HairyMaclairy]

I think many of us are looking forward to the 1 Jan Coinbase dump.

[HairyMaclairy]

Badger finished nap?

[JimboToronto]

This guy gets it:

https://www.youtube.com/watch?v=ukjDCeuNK3Y

These guys get it too:

http://www.news.com.au/finance/money/investing/winklevoss-twins-say-bitcoin-will-increase-another-20-times-amid-growing-warnings-of-crypto-mania/news-story/5516952c91834dc785cf6e7ccdbad403

[JayJuanGee]

The wealth I eventually acquired from Bitcoin was .......[fill in the blank_________].

Recently, I have been kind of talking like this too, and i think it has been about since $1,000 that I started to fill wealthy and everything after that has been kind of a cushion and icing on the cake.

Before $1k, I remained a bit nervous, even though I felt that I had a good investment, but I felt some insecurity with my cushion, and that I needed to keep prepared for any just in case price drop.

Now at $16k plus, we have like a $16k cushion that can cause use to increasingly refer to our "eventually acquired wealth" as a kind of preparation meets opportunity kind of luck... Yeah, sure there is luck, but we had to prepare for our luck and we also had to identify and seize upon some of the opportunities that were presented to us.

Now, I think that people with 50 or more coins can consider themselves wealthy because if you can mostly hang onto those coins, they are very likely to continue to appreciate and continue to contribute to your wealth. 

I am also getting the feeling that people of 20 or more coins are going to soon fall into such a wealth predisposition category, too.

[JimboToronto]

Badger finished nap?

Snakes and larvae digested (burp) and ready for breakfast. 

[TERA2]

This guy gets it:

https://www.youtube.com/watch?v=ukjDCeuNK3Y

These guys get it too:

http://www.news.com.au/finance/money/investing/winklevoss-twins-say-bitcoin-will-increase-another-20-times-amid-growing-warnings-of-crypto-mania/news-story/5516952c91834dc785cf6e7ccdbad403

That would make them 35-billionaires?

[HairyMaclairy]

 I think we can assume they still don’t have all their coins. They would’ve spent a lot of on legal fees.

[Heater]

We now get a Bitcoin price & chart on the 7PM news every night. Tonight we got this as well:

[explorer]

We now get a Bitcoin price & chart on the 7PM news every night. Tonight we got this as well:

Haha look at his face