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

[Biro Bob]

What we are witnessing right now are the last weeks of bitcoin being the dominant cryptocurrency. Ripple and Ethereum are both going to fly past it in the near term. I think that the total collapse might be just a few days away before the masses understand that there are no longer gains to be made in bitcoin and start evacuating their assets to these two more modern cryptocurrencies.

More modern cryptocurrencies? Some are not even cryptocurrencies (like ripple)! Some others don't even work, yet they have a price that goes up and down (like Uno)!!!!! Get real!

As for modernity, you can try the bitcoin lightning network here!!! https://htlc.me/
Of course, it's on testnet.

The Lightning Addresses seem kinda long. Please send me 20 cents. 

lntb13370n1pdyuj2qpp504kf7ht2q70mu9c7w5y2yz3sh540rzet0mmqmpjyzrh2wl274p3sdz80v3 xjg36yg6rzefexf3n2v3dxsmkgvpdx3jrswfd8psnwvpdx93njcesxs6rjdp5xs6zylgcqzys6yyxjg dx5pp54pdam2duxvyvta63mh675lspjav0500ds5a6htyydd46y8tjqy4unkwtj52w2pmt2fwhqn4xw mu33jcqq55uxcfc35cqmjvg6k

[fabiorem]

What we are witnessing right now are the last weeks of bitcoin being the dominant cryptocurrency. Ripple and Ethereum are both going to fly past it in the near term. I think that the total collapse might be just a few days away before the masses understand that there are no longer gains to be made in bitcoin and start evacuating their assets to these two more modern cryptocurrencies.

A newbie being a newbie.

[sirazimuth]

a very bold prediction for a noob in a place like this

A newbie being a newbie.

oh yeah, but a very brave newbie no less...

[kosse]

Aww. Look at the newbie. How cute.

* BobLawblaw pats the newbie on the head. Scratches behind ears.

I know I am and thanks for the scratch  .

 Bought my first bitcoins in the summer of 2014 and still hodling them. Of course this is years later than real early adopters. But I still think 2018 will be remembered as the year bitcoin was replaced. I just don't see the services adopting segwit that could maybe still save the day (along with LN).

[LFC_Bitcoin]

words

Aww. Look at the newbie. How cute.

* BobLawblaw pats the newbie on the head. Scratches behind ears.

And then kicks him out of the gentlemen's smoking room.

[Lauda]

But I still think 2018 will be remembered as the year bitcoin was replaced. I just don't see the services adopting segwit that could maybe still save the day (along with LN).

If you think that, you truly are an ignorant idiot. If you can't comprehend why "Bitcoin is being banned by X or Y" while they spam promote ETH and Ripple (et al.), then you will be playing right in their hands. That which they can not control, is that which they will actively fight. Be wary of *coins* (Ripple is not even a cryptocurrency) which the government or banks are not trying to fight against.
Simple example: https://www.express.co.uk/finance/city/899902/Bitcoin-price-LIVE-Coin-slammed-biggest-ponzi-scheme-in-history-as-price-falls.

[kosse]

Dare I ask "By what and why ?"

By Ripple and Ethereum like I already wrote in my first post. Unwashed masses don't really care for the finer qualities of bitcoin such as being decentralized. They see more potential gains in the aforementioned cheaper alternatives. Now the rates of these coins are driven by the crazy stampede of these less informed "investors" and bitcoin is just not seen as a good investment (already high unit price - the train has gone, huge fees, slow operation, no smart contracts etc etc). For these people the low unit price of Ripple alone is enough to keep pumping it until it's bigger than BTC. It does not help either that bitcoin is continuously hit with the flak from it's opponents in governements, banking world etc. The alternatives are growing next to it with almost zero opposition.

[OWZ1337]

a very bold prediction for a noob in a place like this

A newbie being a newbie.

oh yeah, but a very brave newbie no less...

TEKCOIN [sha-256 bitcoin fork]is never going to go higher than 50,000 satoshi[ATH] even if SATOSHI is coming to save us! :-D lols


https://yobit.net/en/trade/TEK/BTC

[jbreher]

I can provide a more specific prediction Here's my 2018 Outlook with entropic methods:
Paul Simon Coefficient: 0.538210
Astral Projection Rating: 1.12958
G-Spot Root Factor: π*49.84472

I expect bitcoin to stay inside the $10,000-$115,000 price zone.

I chortled.

[jbreher]

I think I see your problem:

... Raiblocks ...

[jbreher]

the alts taking market share like this is pretty shocking, you have to admit that. I certainly didn't predict it.

Many of us did. Loudly and repeatedly.

It is perfectly predictable that, should a coin stop working for most of its use cases, those use cases will migrate to alternatives that support them. Kinda economics 101, that.

[jbreher]

I never thought I would say it but given where BCH is, LTC seems awfully undervalued. There is no compelling reason to use BCH over LTC if the whole premise is transaction fees are out of control and slow block confirms.

I see your problem. That is in no way 'the whole premise'.

[jbreher]

I never thought I would say it but given where BCH is, LTC seems awfully undervalued. There is no compelling reason to use BCH over LTC if the whole premise is transaction fees are out of control and slow block confirms.

The only reason is an emotional one (it contains the Bitcoin name)

Well, no.

[itod]

What I find funny is that none of the ultra nerds or white/black hats I know seem to trust hardware wallets at all.

Finally good observation from your side, for a change. That's because they are trained to avoid single point of failure at all costs. If there is single point of failure, it's not a question if something bad will happen, it's a question when it will happen. Not just Trezor and Lager Nano suffer from this, all BIP032 (seed) wallets are vulnerable. For instance, what if a burglar breaks into safe where you keep your seed? You would kiss your BTC goodbye while you are sleeping. Are you positive none of the persons that can in theory get access to the seed would never, ever, under no circumstances miss-use the seed? I'm always amazed how many legendary users here use hardware wallets, I would never use it even if somebody would give me one as a present. Then again, there are some legendary users here that advocate using paper wallets, which is a definition of insanity. If I could not run a node and use the only reasonably safe wallet (Bitcoin-QT), I would rather keep coins split between the exchanges, with 2FA exchanges a certainly safer than paper wallets.

[jbreher]

unfortunately they figured out that people greed is the best tool to beat BTC

Do you not understand Bitcoin? Bitcoin runs on greed. Creating a way to channel each person's greed to serve the system as a whole was Satoshi's central innovation.

[jbreher]

if Bitcoin fails it will be the doom for all crypto,

I used to believe that too. However, with Bitcoin's market dominance dropping so low, I am no longer so sure about that. Pity.

[Last of the V8s]

@WhalePanda
This is actually a very interesting theory on the #Bitcoin and current altcoin manipulation. TLDR; Big players can't accumulate Bitcoin without moving the price too much, so they pump and dump "cheap" alts to accumulate Bitcoin.

[jbreher]

Coinbase, Bitpay are the biggest generators of transactions and both have given weak reasons why they haven't upgraded. Perhaps the failure 2X has weighed on that decision - sour grapes.

Sour grapes? What are you smoking? They told you the condition upon which they would adopt Segwit (this of course being S2X), and you kicked them in the teeth after activation. WTF do you expect?

it can wait a few more years/months to ensure we get it right.

In the meantime, you have gotten it wrong - oh so wrong.

[Last of the V8s]

unfortunately they figured out that people greed is the best tool to beat BTC

Do you not understand Bitcoin? Bitcoin runs on greed. Creating a way to channel each person's greed to serve the system as a whole was Satoshi's central innovation.

that's so not true, man, it's the technology dammit, and the freedom from slavery

[Asrael999]

So if I remember correctly Ripple labs own what 50billion XRP giving them a market value in the $175bn area or rough 3.5 Tesla's, 3 general motors or slightly less than 1 Volkswagen, why buy a Lambo when you can buy the company that makes them.