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

[PoolMinor]

Oh look!  It's still going down.

Fucking awful, it’s great knowing that in a certain amount of time (6 momths, a year, who knows) the price will almost inevitably rise but it’s kind of heartbreaking waking up to a $500 dump seemingly every fucking day.

Well India decided to ban bitcoin today. I really think this is a globalist coordinated attack on Bitcoin. They just got finished meeting in Davos. The regularity of these "ban bitcoin" articles is perfect to reinforce the bear market. But hey at least you'll have a chance for cheap coins this February. Chinese new year starts on the 15th or so. Get that fiat ready! I have serious FOMO now after having to sell my 6.7 BTC back in 2015 cuz I had no money. So now i'm ready to make amends =D (albeit already invested as we speak)

"Finance minster Arun Jaitley, in his budget speech today (Feb. 01), stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems."

"The government does not consider cryptocurrencies as legal tender or coin, and will take all measures to eliminate the use of these crypto assets in financing illegitimate activities," Jaitley said.



https://www.ft.com/content/9fc05f8e-0720-11e8-9650-9c0ad2d7c5b5


“The government and the RBI have been repeating the same statements on bitcoin since December 2013. Therefore, it is clear that if they had to probably ban it then they would have had done it by now. So it is better that they at least give an indication about the regulations,” said Sathvik Vishwanath, co-founder and CEO of Unocoin, a bitcoin exchange.

https://qz.com/1191061/budget-2018-amid-the-bitcoin-boom-indias-fintech-sector-is-craving-arun-jaitleys-attention/

Edit:

"This changes NOTHING
For years now, the Indian government has maintained the same stance for cryptocurrencies. It is not a legal tender. The same way you cannot use gold to buy coffee from a Starbucks in India, you can’t use Bitcoin to buy products and services in India."

"Jaitley further went on to say that the government will keep exploring working on the blockchain technology."

https://itsblockchain.com/india-not-banning-cryptocurrencies-stop-fud/

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[pacman7331]

BTC won't be banned by South Korea and India
lightning network

I really do not understand why we are not growing

Chinese bro... they got the Yuan qi. Or maybe it is a bubble.  U know what the news out tomorrow will be...

[Flamaicon]

A post that a guy from India say:
================

Might be coz of India FUD. I am from India, and trust me govt didn't say exactly what the news is posting. All that the parliament said is that Crypto is not legal tender.

Indian Govt has a long history of not taking calls. They always stall things as long as they can. Our media and politicians take the word 'currency' in cryptocurrency quite literally. They think we want to use cryptos to buy our daily milk and eggs. We just want to be able to trade them, and use them as a store of value on the other hand. Journalists are not smart enough at the moment to understand this concept, and politicians are smart enough to keep everything in limbo not really start taxing crypto trading. Some individuals are saying ban the crypto trading and thats what media highlighted, but a couple of individuals doesnt make up the whole govt (just like the recent S Korea FUD)

================

So... calm down... dont panic ! Just another FUD.
Midia war against Cryptomarket
Be smart.
The prices will back. Dont sell. Dont lost money

[realr0ach]

Some guy had a graph earlier showing it was 7500...

The infinite growth charts are made by pump and dump scammers.  In the past, the bottom trendlines usually correlated somewhat with current cost of production, so when it imploded down to that level, the big miners themselves would take a risk and buy coins to prop up the market and prevent themselves from mining at a loss.  In this runup from $1000 to $20,000, the cost of production didn't go up much at all - only to like $3000.  So if you were actually going by history, that's where it would bounce from.  The $7500 number is completely arbitrary with no basis in reality.

[pacman7331]

Some guy had a graph earlier showing it was 7500...

The infinite growth charts are made by pump and dump scammers.  In the past, the bottom trendlines usually correlated somewhat with current cost of production, so when it imploded down to that level, the big miners themselves would take a risk and buy coins to prop up the market and prevent themselves from mining at a loss.  In this runup from $1000 to $20,000, the cost of production didn't go up much at all - only to like $3000.  So if you were actually going by history, that's where it would bounce from.  The $7500 number is completely arbitrary with no basis in reality.

Yea... could be. Well mining industry will be feeling this if it doesn't rebound regardless. I hope they will sell the s9 at a lower price at least... or else it will be a overpriced heater.

[PoolMinor]

I'm using this sideways/dip time to extract forkcoins and sell them for BTC. Here's a nice list just in case: https://bitcoinforks.io/ It's not complete there are more you'll have to google them. Some have already fallen to 0 but some still have value.    

Fork is the new clone.....geebus that's a lot of forks....Why bother cloning when you can just fork?

[bitserve]

I reckon there's probably $50 to $100 million in real fiat deposits backing Tether's $2.5 billion in worthless blockchain tokens that were used to blow the 2017 bitcoin bubble.

We're headed back to $1k folks.

Hey, do you realize you are constantly changing your "prediction"?

https://bitcointalk.org/index.php?topic=178336.msg29279653#msg29279653

[fragout]

I reckon there's probably $50 to $100 million in real fiat deposits backing Tether's $2.5 billion in worthless blockchain tokens that were used to blow the 2017 bitcoin bubble.

We're headed back to $1k folks.

Why do you think that? This is the rich list -

380,670,753   Feb 01 09:37 AM   Huobi
1DUb2YYbQA1jjaNYzVXLZ7ZioEhLXtbUru   329,339,572   Feb 01 09:37 AM   Bittrex
1Co1dhYDeF76DQyEyj4B5JdXF9J7TtfWWE   270,000,000   Dec 21 '17, 06:14 AM   Poloniex
1FoWyxwPXuj4C6abqwhjDWdz6D4PZgYRjA   249,963,861   Feb 01 09:37 AM   Binance
1GjgKbj69hDB7YPQF9KwPEy274jLzBKVLh   200,000,000   Jan 31 06:55 PM   
1KYiKJEfdJtap9QX2v9BXJMpz2SfU4pgZw   148,821,592   Feb 01 09:37 AM   Bitfinex
12uhUkxpwkD2LGzKHUywoknoJ3fC9vev1x   82,862,390   Jan 26 09:03 AM   Binance
1ApkXfxWgJ5CBHzrogVSKz23umMZ32wvNA   55,715,971   Feb 01 09:37 AM   OKEx

These exchanges presumably had to buy the tether with real $$ in order to list tether on their exchanges in the first place. Whether the money tether received is still  tucked away or not is anyone's guess but unless tether gave all these exchanges free tether, your $50 - $100 million doesn't make sense.

[PoolMinor]

I reckon there's probably $50 to $100 million in real fiat deposits backing Tether's $2.5 billion in worthless blockchain tokens that were used to blow the 2017 bitcoin bubble.

We're headed back to $1k folks.

Hey, do you realize you are constantly changing your "prediction"?

https://bitcointalk.org/index.php?topic=178336.msg29279653#msg29279653

Yeah but look at all that Merit.... Watch how few Merit are given to them for the last post.

[toknormal]

I reckon there's probably $50 to $100 million in real fiat deposits backing Tether's $2.5 billion in worthless blockchain tokens that were used to blow the 2017 bitcoin bubble.

We're headed back to $1k folks.

Hey, do you realize you are constantly changing your "prediction"?

https://bitcointalk.org/index.php?topic=178336.msg29279653#msg29279653

My bullish prediction was based on it being a real market.

If last year's gains were not a real market (i.e. it was a rerun of the Gox situation where fake liquidity is created to pump the price) then all bets are off. That's what it's increasingly looking like. When a single entity is able to cook up billions of tokens from nothing, call them "$USD" and buy up order books all over the globe without - even exchanges - questioning it then clearly the whole valuation's a fake.

[Meuh6879]

BTC won't be banned by South Korea and India
lightning network

I really do not understand why we are not growing

no fuel ... now.
waiting more, only time is needed.

[flynn]

Speaking about Merit, I send all mine away, and now what ? I am sMerit-broke ?
How do I get more sMerits to give away ?

Not even one of you credited one back to me by the way.
How deceptive this is.

[Meuh6879]

So... calm down... dont panic ! Just another FUD.
Midia war against Cryptomarket
Be smart.
The prices will back. Dont sell. Dont lost money

[rezurect007]

2000 BTC wall @9500

Moving Wall Tracker: 2000BTC @ $9300

[mymenace]

Litecoin on facebook

[Asrael999]

So if we rhyme with 2014 we go to $7k in next two weeks, have a quick rally to 11.5-12k before going back into bear mode and closing the year around $2.5k, from there recovery can begin with potential for New ATH in late 2020. Same multiple increase from 1/15 low to 12/17 high. Would give us a circa $320k high in 12/21 (EDIT). See you all in three years.

[toknormal]

Litecoin on facebook

If any coin is ever going on "Facebook", it's more likely to be Dash than anything else if only because it's the one crypto supporting a trade-clearing protocol and realtime node consensus rather than just mine-time consensus. Embedded web scripts can therefore taok to the blockchain directly (as opposed ot a single machine serving up its version of the blockchain like Litecoin does).

[Samarkand]

...before going back into bear mode and closing the year around $2.5k...

This prediction is extremely unlikely in my opinion. Many long-term holders, who took
profits during November/December are going to buy back way before that number. Besides,
institutional money will hop in way before that. 2.5k / BTC would be below the break-even
point for most miners...

Too many people are directly incentivized to prevent BTC from falling to 2.5k.

I go out on a limb here and will say that we will never see 2.5k again.
I will be buying BTC with all my remaining fiat money way before 2.5k myself.

[yefi]

Speaking about Merit, I send all mine away, and now what ? I am sMerit-broke ?
How do I get more sMerits to give away ?

You were lied to, should have hoarded.

[TERA2]

Why would "institutional money" go back into bitcoin? For what? They now know the max capacity of dumb retail money that's bought, and the market has been sidestepped with fake futures coins. Now it's time for them to get out.