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

[realr0ach]

http://dailystormer.red/russia-insider-goes-full-gas-the-kikes-head-editor-reveals-his-power-levels/

#thegoyimknow

[windjc]

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

Bitcoin is less volatile now. Unless the bull market has ended - which I do not think it has - most of these other crash comparisons are not really valid.

Right now this is a healthy correction - one many people called - that will lead to another bullish year in 2018 with BTC prices well above $50k. BCH might die however

[DaRude]

Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

I'm not even saying Bitcoin didn't have worse days because it has certainly been going through a lot and came out on top. This past year has been a gold rush for Bitcoin and if it did crash back down to really low prices I think it would destroy a lot of confidence in the market. People might discard it again.

And I agree on another post that Bitcoin should be USED. It's the closest thing to digital cash I have ever owned. But the transaction fees have been way too high lately. That's why I like Litecoin. 

That wouldn't be that bad. Get some attention off BTC and let the developers develop. Concentrate on the final product LN without all this BS that's going on now.

[Paashaas]

I like the new LightningCharge from Blockstream, a new micropayment processing system (API) that makes it easy to build apps on top of Lightning. It’s already powering the Blockstream Store, an e-commerce site they launched today.

Key word is: To Build Apps On Top Of Lightning

https://blockstream.com/2018/01/16/lightning-charge.html

[bonipper]

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

Bitcoin is less volatile now. Unless the bull market has ended - which I do not think it has - most of these other crash comparisons are not really valid.

Right now this is a healthy correction - one many people called - that will lead to another bullish year in 2018 with BTC prices well above $50k. BCH might die however

MtGox had a massive effect on bitcoin's price years ago as it had most of the trading volume. Today the volume is spread among lots of exchanges. If one goes down the traders just move to another.

MtGox crashed the price in mid 2103 by stopping trading for two weeks. It crashed it again in 2014 by going bankrupt.

[Paashaas]

Look at this poor guy, if he had invested that money into Bitcoin....

This is the problem with not-well informed people buying shit coins.

Bitconnect is dead they already shutting down services...LOL.

[Peter R]

Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

I'm not even saying Bitcoin didn't have worse days because it has certainly been going through a lot and came out on top. This past year has been a gold rush for Bitcoin and if it did crash back down to really low prices I think it would destroy a lot of confidence in the market. People might discard it again.

And I agree on another post that Bitcoin should be USED. It's the closest thing to digital cash I have ever owned. But the transaction fees have been way too high lately. That's why I like Litecoin.  

Agreed.  My bet is that this isn't actually a crash, but a correction and that the bull market is still in tact.  I suspect we'll see new ATHs for bitcoin in 2018.  

I also suspect the ratio of the two bitcoins (BCH / BTC) will be much higher though once people sober up and realize the problems with BTC....cough....cough....

[HairyMaclairy]

Seems like scalping right off $10K on GDAX and Bitfinex was a classical technical analysis trade.

Was under $10K probably for less than a minute.

Tons of stop losses under... but many buy-limits under also

It’s a great lesson about not putting stop losses immediately below a major resistance point.

[oblox]

Bitcoin is the one and only original. If its price goes somewhere sub 3k it's probably game over. But it won't happen until all the knockoffs die first.

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

I'm not even saying Bitcoin didn't have worse days because it has certainly been going through a lot and came out on top. This past year has been a gold rush for Bitcoin and if it did crash back down to really low prices I think it would destroy a lot of confidence in the market. People might discard it again.

And I agree on another post that Bitcoin should be USED. It's the closest thing to digital cash I have ever owned. But the transaction fees have been way too high lately. That's why I like Litecoin.  

Agreed.  My bet is that this isn't actually a crash, but a correction and that the bull market is still in tact.  I suspect we'll see new ATHs for bitcoin in 2018.  

I also suspect the ratio of the two bitcoins (BCH / BTC) will be much higher though once people sober up and realize the problems with BTC....cough....cough....

...but seriously, why would I use BCH over LTC? Because I don't want a coin with an option to use segwit? I'm trying to get the selling point of using BCH over something that already is established.

[Peter R]

...but seriously, why would I use BCH over LTC? Because I don't want a coin with an option to use segwit? I'm trying to get the selling point of using BCH over something that already is established.

Since windjc asked me this exact question last week, I'll quote my response to him:

"I view money as a ledger.  Or "money as memory," as per the work of Kocherlakota. From this viewpoint, it is the information encoded in the ledger about who owns which coins that is of value.  The actual mechanism used to update that ledger is just a technical decision -- which is the best paper to write on?  Which is the best pen?

Bitcoin Cash (BCH) and Bitcoin Core (BTC) share the same ledger up until August 1.  At this point, the "ledger updating mechanisms" diverged (BCH allowed more information about the state of the ledger to be updated every ten minutes to facilitate growth).

Switching to LTC would be like ripping up the "ledger of money" because the pen we were using to update it ran out of ink.  Instead, just get a better pen and keep updating the same ledger."

[HairyMaclairy]

If your rationale is “cash” then the longetivity of the ledger is irrelevant.  I get in and I get out of Litecoin at my destination.

No one cares that the Bcash ledger goes back to 2009 and the Litecoin ledger only goes back to 2011.

If you do care, you are being financially irrational.   The only choice is what vehicle gets me there fastest and cheapest.   

If I am using BTC as a trading pair it is often cheaper and fast enough just to stay in BTC.

[BlackMambaPH]

It's like buy now or cry later vs sell now and enjoy your Payouts. 30K usd by March. Still hodl! We need patience guys.

[OWZ1337]

Look at this poor guy, if he had invested that money into Bitcoin....

This is the problem with not-well informed people buying shit coins.

Bitconnect is dead they already shutting down services...LOL.

^fool just needs to martingale that shit :-D lol

[realr0ach]

No one cares that the Bcash ledger goes back to 2009 and the Litecoin ledger only goes back to 2011.

If we use Peter R's argument on that subject, then the noble metals (silver and gold) are a billions year old blockchain with built-in pruning, thus making anything cryptocurrency related a joke.  It was a very illogical comment to make by not admitting the ledger of humans has been metals for thousands of years and it's NEVER been the scamchain.  So if he claims the oldest ledger wins, then metals win, not any of this garbage.

[mindrust]

I also suspect the ratio of the two bitcoins (BCH / BTC) will be much higher though once people sober up and realize the problems with BTC....cough....cough....

Why don't you man up and speak louder?

Put it in big bold fonts "bitcoin cash is bitcoin!!1!" If you believe what you were saying what are you afraid of?

BCASH is SCAM

[realr0ach]

Why don't you man up and speak louder?

Put it in big bold fonts "bitcoin cash is bitcoin!!1!" Are you afraid?

Stop pretending any of these coins are better than the other.  Zero of them have fundamentals.  0 is not > 0:

Still haven't seen a good reply by you addressing how gold's supposed "organic total supply" is better than following hard-coded rules. Money it's all a social construct so people don't kill each other... why not have it as a clear, open source set of rules

That was the most statist, bullshit answer I've ever seen.  It reminded me of that Mefobills guy from Zerohedge who everyone pretends is smart, yet all of his solutions revolve around giving govt 100% power and control over everything.  There's no such thing as "clear, open source rules".  Who are these "rules" created and enforced by?  Force is the only valid consensus mechanism.  If it has no force, it's not actually a rule.  There are only two methods of consensus, either using force to make convergence happen, or relying on the aggregate of all actors (aka invisible hand of the market) to form a functioning Schelling point.

Bitcoin was modeled after a war game exercise, and the PoW function mimics this force variable, but it's fake force.  Force in the real world always takes precedent over any imaginary, digital force.  Bitcoin has built-in middlemen and doesn't remove counter party risk. Transactions are not blinded either.  If some govt goons want to come stand in the mining buildings while labeling anyone who doesn't worship them as terrorists and block their transactions, it's not a monetary system, it's a permissioned ledger aka tyranny.

This is why anyone who supports such garbage that doesn't remove middlemen or counter party risk is inherently a statist.  You're claiming everyone on the planet must be at the mercy of variables outside of their control instead of being able to take their life in their own hands.  Since it's not actually possible to create a decentralized digital currency, and they're generally all completely arbitrary, dysfunctional, designed to centralize, Rube Goldberg machines that don't remove middlemen or counter party risk, you would need to be a complete fucking fool to think such a thing could compete with the fundamentals of noble metals as the base of Exter's Pyramid.

If you are not mentally deficient and have identified the fundamentals of things like metals as having better store of value properties (how could an imaginary object that functions as a permissioned ledger due to not removing middlemen have good store of value properties?), then you would know the only possible way for cryptocurrency to win is by the state forcing them on people.  Once again making you a statist if you advocate them because the invisible hand of the market would never value their monetary fundamentals like being a store of value as higher than metals.

[mindrust]

Stop pretending any of these coins are better than the other.  Zero of them have fundamentals.  0 is not > 0:

So you think there isn't any difference between bitcoin and a random coin from CMC? W E W. Nice logic you got there.

I bet you invested a lot in BitConnect too thinking it was the same thing as Bitcoin.

[realr0ach]

So you think there isn't any difference between bitcoin and a random coin

None of them remove middlemen or counter party risk, therefore have 0 fundamentals.  Or to put it differently, whether you like or dislike him, Martin Armstrong defines metals as being a hedge against government.  Something that doesn't remove middlemen is obviously not a hedge against government, because as I stated before, transactions are not blinded and the govt can just walk into the mining buildings and claim anyone who doesn't worship them is a terrorist and has their transactions blocked.  

Entities like the G20 will obviously form such policies.  This makes it a permissioned ledger or tyranny by default.  What is bitcoin a hedge against?  NOTHING.  It operates on the govt's infrastructure and it costs virtually nothing to run a police state in the digital world like when Iran supposedly shut off access to Telegram recently.  On the other hand, the cost to run a police state covering the physical planet is almost infinite orders of magnitude higher, and thus not possible.

[User705]

$18k -> $3k (6x) wouldn't be unprecedented.  In 2011, we fell from $30 -> $2 (15x), in early 2013 from $250 -> $50 (5x), and in late 2013 from $1200 -> $200 (6x).  

If we get away with a low of $9k (2x) I'd hardly even call that a crash!  

Here are projected lows compared to historical crashes:

2x: $9,000
3x: $6,000
4x: $4,500
5x (early 2013): $3,600
6x (late 2013): $3,000
10x: $1,800
15x (2011): $1,200

Bitcoin is less volatile now. Unless the bull market has ended - which I do not think it has - most of these other crash comparisons are not really valid.

Right now this is a healthy correction - one many people called - that will lead to another bullish year in 2018 with BTC prices well above $50k. BCH might die however

Previous corrections would go into alts but it’s all dropping now.  It won’t get to low Ks overnight but 20k could be a top.  It’s x10 what it costs in electricity per BTC and most past tops were never 20x of previous ATHs.

[mindrust]

So you think there isn't any difference between bitcoin and a random coin

None of them remove middlemen or counter party risk, therefore have 0 fundamentals.  Or to put it differently, whether you like or dislike him, Martin Armstrong defines metals as being a hedge against government.  Something that doesn't remove middlemen is obviously not a hedge against government, because as I stated before, transactions are not blinded and the govt can just walk into the mining buildings and claim anyone who doesn't worship them is a terrorist and has their transactions blocked.  

Entities like the G20 will obviously form such policies.  This makes it a permissioned ledger or tyranny by default.  What is bitcoin a hedge against?  NOTHING.  It operates on the govt's infrastructure and it costs virtually nothing to run a police state in the digital world like when Iran supposedly shut off access to Telegram recently.  On the other hand, the cost to run a police state covering the physical planet is almost infinite orders of magnitude higher, and thus not possible.

You have no idea what you are talking about. I've sold stuff for bitcoin and bought stuff with bitcoin. It doesn't need a middleman to work. LN will make things  even easier. Still that's not the main reason I hold bitcoin.

I hold Bitcoin because Bitcoin is a hedge against the whole banking system.

Keeping money out of baking system, being able to transfer your money no matter what. These 2 are enough to make bitcoin a thing. When I transfer money to some other country banks ask too many questions. They can seize your money for no reason. I know the Bitcoins I send will make it to the other side no matter what. I know no government can steal my money from my BTC account.

If you think these are unimportant why are you even here? Gtfo to where you came from.