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

[Heater]

Oh noes.



edit: Is my image not showing? (My bitcoins are only worth what they were worth yesterday.)

Does this mean we can't pump the price back up with memes like we always do?

Must be a globalist imgur conspiracy.

[HairyMaclairy]

Snippet from today’s Financial Times (UK):

Regulatory filings show that VanEck and Rex ETFs, which withdrew earlier applications after the SEC’s ruling on the Winklevoss Bitcoin Trust, refiled to launch bitcoin futures-based ETFs this month. Direxion Investments registered a bitcoin ETF on Friday. The providers declined to comment because of regulatory restrictions.

[LewisPirenne]

With Direxion, people are probably going to get rekt with some inverse (bear) 3x (leverage) BTC fund though.  Probably going to break record for a listed ETF going to zero (or splitting).  

Also, it takes a while for crowds used to buy-low-sell-high and pump-and-dump in CB dominated inflationary world to figure out that with deflationary currency, it's all pump-and-pump and sell-high-and-buyback-even-higher as people hoard it to oblivion.

[jhamir273]

looking back at the last 10 days we can clearly see the bubble popping and the first good attempt at catching the resulting knife.

you can see that when the bubble popped at ~266$ their was a big dip in price without much volume ( everyone let the knife fall  )
but now at 80-50$ rang we are seeing HUGE volume spikes when their is any kind of movement up or down.
I think if we are not already at bottom, its not too far down...

[arklan]

looking back at the last 10 days we can clearly see the bubble popping and the first good attempt at catching the resulting knife.

you can see that when the bubble popped at ~266$ their was a big dip in price without much volume ( everyone let the knife fall  )
but now at 80-50$ rang we are seeing HUGE volume spikes when their is any kind of movement up or down.
I think if we are not already at bottom, its not too far down...

What currency are you talking in? 266? 80-50?

Wait... 266...why do I feel like that's a familiar number?

[bones261]

looking back at the last 10 days we can clearly see the bubble popping and the first good attempt at catching the resulting knife.

you can see that when the bubble popped at ~266$ their was a big dip in price without much volume ( everyone let the knife fall  )
but now at 80-50$ rang we are seeing HUGE volume spikes when their is any kind of movement up or down.
I think if we are not already at bottom, its not too far down...

What currency are you talking in? 266? 80-50?

Wait... 266...why do I feel like that's a familiar number?

I'm confused as well?   A 65-80% drop would put us in the 4k to 7k range. 18k would be nowhere near the bottom.

[LewisPirenne]

It's just newbie quoting random post from 2013, again.  This is quite common in the forum for upping post count, though not in this thread, up to now.

[Rosewater Foundation]

$266. Those were the days.

[centralbanksequalsbombs]

With Direxion, people are probably going to get rekt with some inverse (bear) 3x (leverage) BTC fund though.  Probably going to break record for a listed ETF going to zero (or splitting).  

Also, it takes a while for crowds used to buy-low-sell-high and pump-and-dump in CB dominated inflationary world to figure out that with deflationary currency, it's all pump-and-pump and sell-high-and-buyback-even-higher as people hoard it to oblivion.

Direxion 3x BTC bullish and inverse funds would be fun. LOL.

For those keeping track, this is how long it has taken the cryptocurrency to cross the key psychological levels:

    $0000 - $1000: 1789 days
    $1000- $2000: 1271 days
    $2000- $3000: 23 days
    $3000- $4000: 62 days
    $4000- $5000: 61 days
    $5000- $6000: 8 days
    $6000- $7000: 13 days
    $7000- $8000: 14 days
    $8000- $9000: 9 days
    $9000-$10000: 2 days
    $10000-$11000: 1 day
    $11000-$12000: 6 days
    $12000-$13000: 17 hours
    $13000-$14000: 4 hours
    $14000-$15000: 10 hours
    $15000-$16000: 5 hours
    $16000-$17000: 2 hours
    $17000-$18000: 10 minutes
    $18000-$19000: 3 minutes


source: http://www.zerohedge.com/news/2017-12-07/bitcoin-blasts-through-15000?page=18

[svdleer]

well after a few house sleep, the bots seem back in the house to pump the price low.

[Rosewater Foundation]

With Direxion, people are probably going to get rekt with some inverse (bear) 3x (leverage) BTC fund though.  Probably going to break record for a listed ETF going to zero (or splitting).  

Also, it takes a while for crowds used to buy-low-sell-high and pump-and-dump in CB dominated inflationary world to figure out that with deflationary currency, it's all pump-and-pump and sell-high-and-buyback-even-higher as people hoard it to oblivion.

Direxion 3x BTC bullish and inverse funds would be fun. LOL.

For those keeping track, this is how long it has taken the cryptocurrency to cross the key psychological levels:

    $0000 - $1000: 1789 days
    $1000- $2000: 1271 days
    $2000- $3000: 23 days
    $3000- $4000: 62 days
    $4000- $5000: 61 days
    $5000- $6000: 8 days
    $6000- $7000: 13 days
    $7000- $8000: 14 days
    $8000- $9000: 9 days
    $9000-$10000: 2 days
    $10000-$11000: 1 day
    $11000-$12000: 6 days
    $12000-$13000: 17 hours
    $13000-$14000: 4 hours
    $14000-$15000: 10 hours
    $15000-$16000: 5 hours
    $16000-$17000: 2 hours
    $17000-$18000: 10 minutes
    $18000-$19000: 3 minutes


source: http://www.zerohedge.com/news/2017-12-07/bitcoin-blasts-through-15000?page=18

So $20k is way behind schedule? HURRY!

[jojo69]

Oh noes.



edit: Is my image not showing? (My bitcoins are only worth what they were worth yesterday.)

well look what the cat dragged in

did someone have a little sleepover?

[TERA2]

I dont see images either. I posted a pic of a robotic bear.

[realr0ach]

CME dragging down futures out of the gate.

Bleh.

http://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html

So tell me, if both metals and bitcoin are rigged by the CME, what is the purpose of holding bitcoin when they can only naked short metals to cost of production but they can short bitcoin to zero? Bitcoin's cost of production is not based on an external variable like metals (the price of oil), but entirely recursive and based on it's own demand via hash rate.  Meaning if the cost of production of bitcoin is $3000 and you naked short it to $1000, all the miners will be forced to turn off, lowering the cost of production even further in a downward spiraling feedback loop while the same amount of bitcoins still hits the market in the form of mined reward or transaction fees.

If the bankers short metals below cost of production, the miners shut down and silver and gold stops entering the market creating a shortage.  Thus shorting below cost of production in metals is counterintuitive to price suppression, while it's beneficial to short below cost of production to suppress price in bitcoin.  Can you say checkmate?

[Rosewater Foundation]

Random thought. Do you think if we had a more sophisticated name less people would have thought it was a scam and took it seriously? And consequently we might not have got cheap coins? Like if it was a cool acronym for decentralized permissionless censorship-resistant cryptographically-secure asset, more people would have got the idea? I mean technically there are no actual coins.

Alternatively, if it had been called ScamWowMoneyButton, would it have made any kind of difference?

/random though

[d_eddie]

Can you say checkmate?

Checkmate.
We all know.
Crypto is done.
The corn is dead.
Blame on the Jews.
Decent summary eh?
So no need for you to repeat.
(That would be in a perfect world.)

[synamufafat]

With Direxion, people are probably going to get rekt with some inverse (bear) 3x (leverage) BTC fund though.  Probably going to break record for a listed ETF going to zero (or splitting).  

Also, it takes a while for crowds used to buy-low-sell-high and pump-and-dump in CB dominated inflationary world to figure out that with deflationary currency, it's all pump-and-pump and sell-high-and-buyback-even-higher as people hoard it to oblivion.

Direxion 3x BTC bullish and inverse funds would be fun. LOL.

For those keeping track, this is how long it has taken the cryptocurrency to cross the key psychological levels:

    $0000 - $1000: 1789 days
    $1000- $2000: 1271 days
    $2000- $3000: 23 days
    $3000- $4000: 62 days
    $4000- $5000: 61 days
    $5000- $6000: 8 days
    $6000- $7000: 13 days
    $7000- $8000: 14 days
    $8000- $9000: 9 days
    $9000-$10000: 2 days
    $10000-$11000: 1 day
    $11000-$12000: 6 days
    $12000-$13000: 17 hours
    $13000-$14000: 4 hours
    $14000-$15000: 10 hours
    $15000-$16000: 5 hours
    $16000-$17000: 2 hours
    $17000-$18000: 10 minutes
    $18000-$19000: 3 minutes


source: http://www.zerohedge.com/news/2017-12-07/bitcoin-blasts-through-15000?page=18

So $20k is way behind schedule? HURRY!

Naw, $19k is the maximum in this year 

[d_eddie]

Random thought. Do you think if we had a more sophisticated name less people would have thought it was a scam and took it seriously? And consequently we might not have got cheap coins? Like if it was a cool acronym for decentralized permissionless censorship-resistant cryptographically-secure asset, more people would have got the idea? I mean technically there are no actual coins.

Alternatively, if it had been called ScamWowMoneyButton, would it have made any kind of difference?

/random though

Would a rose smell less sweeeeet by any other name?
I think 'Sweetcorn' would have been cooler than DUTOV (Decentralized Uncensorable Transfer Of Value).

[svdleer]

Anoying bots

[realr0ach]

Random thought. Do you think if we had a more sophisticated name less people would have thought it was a scam and took it seriously?

In case you didn't realize the problem bitcoin attempts to solve but fails anyway, allow me to demonstrate:

The name is fine, it's just that bitcoin attempts to solve an unsolvable problem (decentralization), so it's a miracle it's fooled as many people as it has.  The way it managed to fool so many people is by claiming it can be constantly upgraded, so even if it's blatantly centralized to the common idiot right now, they make believe some change in the future by someone smarter than they are will fix it.  If you have a sufficiently high enough IQ (you don't need to be a genius), you can already sort through all the possible ways such a system can be changed and realize it's not possible to fix.

For example, if you can just put a miner on cruise control and collect payments from it while not actually doing any type of work yourself, this works out to be roughly the same thing as collecting interest and we all know how compound interest spirals out of control.  So you can then parlay all your interest into continuous expansion until complete monopoly (which is what many of these miners have done).  To prevent this compound interest effect, you would need to do something like require miners to do physical labor (solve captchas) for the block reward so they can't continuously expand.

The problem you encounter here is that...you can create bots to solve the captchas for you, and you're right back to square one again and have fixed nothing.  The system always turns into slum lords collecting money for nothing through a monopoly.