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

[N12]

Personally, what I find pathetic and ridiculous is not being able to acknowledge the realities of bursting and deflating bubbles and ignoring the evidence staring at your face. Suit yourself.

[ChartBuddy]

[Walsoraj]

Personally, what I find pathetic and ridiculous is not being able to acknowledge the realities of bursting and deflating bubbles and ignoring the evidence staring at your face. Suit yourself.

Disagree, all the evidence clearly points to a coiled spring. Probably to $10,000 w/in weeks.

You just don't understand the "fundamentals."

[superpatosainz]

ripietila has a point: it takes time from hearing about bitcoin to buying it. Last year I estimated this time to be 6 weeks (and called the january rocket pretty well using this approach). Maybe for the kind of people having heard of bitcoin during the spring '13 bubble this time is much longer. Many months, maybe even years to gain trust in this new-fangled hacker-thing. They need to see bitcoin is still around after much time to gain that trust.

Everyone agrees that (barring anything really bad happening) bitcoin will go up substantially again at some point in time.

Quite frankly: if this isn't going down soonish, it isn't going down at all.

The clock is ticking, bears...

I heard about bitcoin in 2010, knew everything about it.

Now I so fucking regret not buying, I haven't even bought any yet; I'll take advantage of this bear tendency.

[superpatosainz]

Personally, what I find pathetic and ridiculous is not being able to acknowledge the realities of bursting and deflating bubbles and ignoring the evidence staring at your face. Suit yourself.

Blitz, you are a long term bear, aren't you?

By the way, I agree with you on this (the bubble is bursting), but from my viewpoint (someone who would use bitcoin a bit as a currency, but mostly I want to treat it as high-risk volatile asset), there's nothing that can prevent another bubble from rising up, as sudden as the last one, and even, I'm sure the price will rise again to three digits by the end of 2013 or in 2014.

[RationalSpeculator]

Hype is dying, interest is dying, people are leaving. Such is the long, drawn out process of deflating a bubble.

It's visible in all indicators, USD leaving the market, google trends, your node stats, r/bitcoin, even bitcointalk.

Thx for reminding me. It's so hard to not fall pray to my bullish bitcoin part!

[justusranvier]

It's visible in all indicators, USD leaving the market, google trends, your node stats, r/bitcoin, even bitcointalk.

I am so busy selling bitcoins on LocalBitcoins to people who are desperate now that Bitinstant is temporarily down that I don't have time to read the forums, much less post.

Maybe online activity is down because everyone is out working on building the Bitcoin economy.

[RationalSpeculator]

What do u guys think of this bitcoin t-shirt? http://store.robberbaronswag.com/product/bitcoin-themed-shirt

[Wagner2014]

it's always useful to look at the larger picture...i think the deflation of the bubble is evident...but not complete...

[N12]

Blitz, you are a long term bear, aren't you?

If long-term is 3 years and there is capitulation selling on high volume leading to <50, accompanied by extremely bearish sentiment ie the bubble has finally (mostly) deflated, then yes. I'm a long-term bull.

[ChartBuddy]

[BitPirate]

Personally, what I find pathetic and ridiculous is not being able to acknowledge the realities of bursting and deflating bubbles and ignoring the evidence staring at your face. Suit yourself.

You have no evidence!

Melodrama != evidence

Sure, post a price chart. I know the price has decreased. The question is if the price is about to increase or decrease though.

[N12]

Burst bubbles slowly deflate. We were discussing evidence besides the price chart for the ongoing deflation of the bubble. I don't know why you refuse to understand that we have had a bubble and that it's deflating.

Perhaps it is this: Date Registered:    14-03-2013, 03:59:40 I see a lot of bubble deluded who signed up during the bubble and have seen no other face of Bitcoin.

Interest is fading all across the board. Simple.

[Wagner2014]

Burst bubbles slowly deflate. We were discussing evidence besides the price chart for the ongoing deflation of the bubble. I don't know why you refuse to understand that we have had a bubble and that it's deflating.

Perhaps it is this: Date Registered:    14-03-2013, 03:59:40 I see a lot of bubble deluded who signed up during the bubble and have seen no other face of Bitcoin.

Interest is fading all across the board. Simple.

Instead of looking at how much time has passed you should be looking at how much volume has passed.

We are way past where you think we are. It is a whole new regime.

so? you are saying the price is going up? if so, by how much? i think the opposite...the downside risk is a much higher % ...i.e., $50 more likely to come before $150...just looking at the charts...and the history of bubbles...

[BitPirate]

Burst bubbles slowly deflate. We were discussing evidence besides the price chart for the ongoing deflation of the bubble. I don't know why you refuse to understand that we have had a bubble and that it's deflating.

Perhaps it is this: Date Registered:    14-03-2013, 03:59:40 I see a lot of bubble deluded who signed up during the bubble and have seen no other face of Bitcoin.

Interest is fading all across the board. Simple.

I've been involved with BTC for some time actually; but that is besides the point.

Anyway, we will see who is right -- actually my point was less "It's going to the moon" and more, "you shouldn't be so certain in your predictions, you're setting yourself up for a big fall".

Additionally, I disagree that interest is fading. The indicators posted earlier lag the price -- if the price is appreciating, there will be more Google searches, more client downloads, etc. The fact that there is a hard bottom on some of the stats that is as much as 50% of the all-time peak is actually quite promising -- it sets a baseline on the non-speculative portion of the market.

[N12]

Naturally they are lagging indicators, no question there. They only confirm what the charts say, that we are in a deflating bubble. Just different ways of looking at the same thing.

Regarding "you shouldn't be so certain in your predictions, you're setting yourself up for a big fall". If you had 100% certainty and perfect timing, obviously you would go short on maximum leverage. I don't have 100% confidence, and I don't have perfect timing. Therefore, I don't short, and particularly not on high leverage (well, aside from not trusting Bitfinex). No falls to be had, merely heights to be missed.

[superpatosainz]

What does prevent another bubble from rising up? The price can go up!

[Nightowlace]

You know how we avoid bubbles and enjoy stability and gradual growth?

ECONOMY

Right now BTC is good for trading, that's it. What do you do with your bitcoins? Do you purchase things with them? I do, I try to spend them, make them, create business' around them etc. What are you doing to help grow the economy besides sitting on this forum bitching about whether or not your "investment" will grow, or decrease.

Go out to your locally owned business' ask them if they would be willing to accept BTC if you helped them set it up. That's what we do in our local community. How about you introduce BTC to 3 people a day, really talk to them about it. Inform them, give them your contact, get theirs for a follow up.

You really want your investment to grow. Make it happen, be apart of the generating the buzz, the next round of media hype. Right now all people know about is the media hype, the bullshit that is force fed to them. The "oh yeah the internet money that tanked".

I'm tired of hearing the what ifs, the maybes, the hopefully's, the well if. You know what you are hoping for? You're hoping for someone to get off their ass and push BTC to grow. Be that person.

[Coinseeker]

You have no evidence!

Melodrama != evidence

Sure, post a price chart. I know the price has decreased. The question is if the price is about to increase or decrease though.

Translation:  "Post your price chart, I can't understand the damn thing anyway.  So, I'll just blindly believe in my up, up, up theory."

Additionally, I disagree that interest is fading. The indicators posted earlier lag the price -- if the price is appreciating, there will be more Google searches, more client downloads, etc. The fact that there is a hard bottom on some of the stats that is as much as 50% of the all-time peak is actually quite promising -- it sets a baseline on the non-speculative portion of the market.

Translation:  "I have run out of any legitimate arguments in the face of overwhelming evidence, and instead will resort to fox news style spin of those negatives."

[superpatosainz]

You know how we avoid bubbles and enjoy stability and gradual growth?

ECONOMY

Right now BTC is good for trading, that's it. What do you do with your bitcoins? Do you purchase things with them? I do, I try to spend them, make them, create business' around them etc. What are you doing to help grow the economy besides sitting on this forum bitching about whether or not your "investment" will grow, or decrease.

Go out to your locally owned business' ask them if they would be willing to accept BTC if you helped them set it up. That's what we do in our local community. How about you introduce BTC to 3 people a day, really talk to them about it. Inform them, give them your contact, get theirs for a follow up.

You really want your investment to grow. Make it happen, be apart of the generating the buzz, the next round of media hype. Right now all people know about is the media hype, the bullshit that is force fed to them. The "oh yeah the internet money that tanked".

I'm tired of hearing the what ifs, the maybes, the hopefully's, the well if. You know what you are hoping for? You're hoping for someone to get off their ass and push BTC to grow. Be that person.

Dunno if you're talking to me but:

1) I use bitcoin both as an investment (why not take advantage of its current unstability?) and as a currency (the way it was supposed to be).

2) I've introduced bitcoin to all my friends.

But yea, your idea on helping businesses didn't come to me, and it's actually a quite good idea, I should do it.

Also, BTC _will_ grow anyways.

Nice motivational speech.