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

[HairyMaclairy]

So we going to get one of those weekend pumps instead of dump?

Exactly my hunch. I got it while following the price more closely than usual, scalping my short up. I'm gonna have a hard weekend for sure :-)

Edit:  Genesis Capital has lent over $100 million in crypto to bears.

https://amp.businessinsider.com/a-bitcoin-trading-firm-just-opened-up-a-lending-business-and-its-going-gangbusters-2018-3?__twitter_impression=true

This sounds like bullshit. It can't be true. Such a business model leaks too much profit if the underlying cryptocurrency appreciates.

I assume both principal and interest is payable in BTC.

[TERA2]

We are managing to stay out of the Swamps of Anger.  



Although the price line seems to have changed Dark Forest to Dank Forest.

Where exactly is the dungeon of capitulation? Negative prices?

[Ibian]

Satoshi vision conference ?

Is there any evidence AT ALL that satoshi's vision was to "scale" bitcoin by cramming more and more transactions into blocks until the point where full node operators need to open a data center and purchase a T1 line? Where the hell does ver get this crap about this being "satoshi's vision"?

...that has nothing to do with the number of transactions.

[HairyMaclairy]

We are managing to stay out of the Swamps of Anger.  



Although the price line seems to have changed Dark Forest to Dank Forest.

Where exactly is the dungeon of capitulation? Negative prices?

It’s the Wall Observer $1,000 Party.  It’s being held at a time share resort in Milwaukee.  We are all going to drink Pabst Blue Ribbon and listen to a lecture on physical silver by Roach. 

[Anon136]

Satoshi vision conference ?

Is there any evidence AT ALL that satoshi's vision was to "scale" bitcoin by cramming more and more transactions into blocks until the point where full node operators need to open a data center and purchase a T1 line? Where the hell does ver get this crap about this being "satoshi's vision"?

...that has nothing to do with the number of transactions.

Can you be more specific? What has nothing to do with the number of transactions?

[d_eddie]

A 200-250$ dip down, almost instant. We won't see BMB/Rosewater for some time, I'm afraid.

[fragout]

Yesterday: Lightning goes beta
Today: Visa head honcho opines on bitcoin below
https://www.cnbc.com/2018/03/16/visa-finance-chief-attacks-bitcoin-bubble.html

Lightning: would cost about 1c or even less for merchants to accept
Visa: costs 3% (at least) for merchants to accept

Hmmm, I wonder what may win out eventually

"This is the ultimate thing that you hear about when you have a bubble, when the guy shining your shoes tells you what stock to buy," the Visa executive said.

This quote sums up the mentality of these guys

[Ibian]

We are managing to stay out of the Swamps of Anger.  



Although the price line seems to have changed Dark Forest to Dank Forest.

Where exactly is the dungeon of capitulation? Negative prices?

It begins somewhere between 7500 and 5000. Which would be a lovely problem to have for a lot of us.

[Ibian]

Satoshi vision conference ?

Is there any evidence AT ALL that satoshi's vision was to "scale" bitcoin by cramming more and more transactions into blocks until the point where full node operators need to open a data center and purchase a T1 line? Where the hell does ver get this crap about this being "satoshi's vision"?

...that has nothing to do with the number of transactions.

Can you be more specific? What has nothing to do with the number of transactions?

The number of transactions has nothing to do with the choice to build a data center.

[JayJuanGee]

Yesterday: Lightning goes beta
Today: Visa head honcho opines on bitcoin below
https://www.cnbc.com/2018/03/16/visa-finance-chief-attacks-bitcoin-bubble.html

Lightning: would cost about 1c or even less for merchants to accept
Visa: costs 3% (at least) for merchants to accept

Hmmm, I wonder what may win out eventually

Visa is not going to go down that easy and without a fight, so they are likely going to have to play dirty - and likely also be forced to lower their fees, too.... 

[Ibian]

Yesterday: Lightning goes beta
Today: Visa head honcho opines on bitcoin below
https://www.cnbc.com/2018/03/16/visa-finance-chief-attacks-bitcoin-bubble.html

Lightning: would cost about 1c or even less for merchants to accept
Visa: costs 3% (at least) for merchants to accept

Hmmm, I wonder what may win out eventually

"This is the ultimate thing that you hear about when you have a bubble, when the guy shining your shoes tells you what stock to buy," the Visa executive said.

This quote sums up the mentality of these guys

That line is not wrong, seen in isolation, to be fair. It's just that not everything is a bubble.

[Anon136]

Satoshi vision conference ?

Is there any evidence AT ALL that satoshi's vision was to "scale" bitcoin by cramming more and more transactions into blocks until the point where full node operators need to open a data center and purchase a T1 line? Where the hell does ver get this crap about this being "satoshi's vision"?

...that has nothing to do with the number of transactions.

Can you be more specific? What has nothing to do with the number of transactions?

The number of transactions has nothing to do with the choice to build a data center.

ooooookkkkkk. You are off on a different planet buddy.

[Ibian]

Satoshi vision conference ?

Is there any evidence AT ALL that satoshi's vision was to "scale" bitcoin by cramming more and more transactions into blocks until the point where full node operators need to open a data center and purchase a T1 line? Where the hell does ver get this crap about this being "satoshi's vision"?

...that has nothing to do with the number of transactions.

Can you be more specific? What has nothing to do with the number of transactions?

The number of transactions has nothing to do with the choice to build a data center.

ooooookkkkkk. You are off on a different planet buddy.

Open source. We know how it works. Have known from the start.

You are the one making an assertion here. In what way does the number of transactions force miners into data centers?

[Biodom]

Yesterday: Lightning goes beta
Today: Visa head honcho opines on bitcoin below
https://www.cnbc.com/2018/03/16/visa-finance-chief-attacks-bitcoin-bubble.html

Lightning: would cost about 1c or even less for merchants to accept
Visa: costs 3% (at least) for merchants to accept

Hmmm, I wonder what may win out eventually

Visa is not going to go down that easy and without a fight, so they are likely going to have to play dirty - and likely also be forced to lower their fees, too....  

highlighted...thereby becoming a great short, perhaps.

[Anon136]

Satoshi vision conference ?

Is there any evidence AT ALL that satoshi's vision was to "scale" bitcoin by cramming more and more transactions into blocks until the point where full node operators need to open a data center and purchase a T1 line? Where the hell does ver get this crap about this being "satoshi's vision"?

...that has nothing to do with the number of transactions.

Can you be more specific? What has nothing to do with the number of transactions?

The number of transactions has nothing to do with the choice to build a data center.

ooooookkkkkk. You are off on a different planet buddy.

Open source. We know how it works. Have known from the start.

You are the one making an assertion here. In what way does the number of transactions force miners into data centers?

Doesn't legendary mean anything? You understand that transactions are made of data right? Processing more of them requires more bandwidth than processing less of them, right? Why am I having this ridiculous conversation? Are you high?

[bitserve]

A 200-250$ dip down, almost instant. We won't see BMB/Rosewater for some time, I'm afraid.

Last time we heard from him he was mumbling something about exiting in stages (dollar cost averaging).

Hope he is ok and didn't sell more than enough to have some peace of mind and restored confidence in his hodling abilities.

[JayJuanGee]

We are managing to stay out of the Swamps of Anger.  



Although the price line seems to have changed Dark Forest to Dank Forest.

Where exactly is the dungeon of capitulation? Negative prices?

It begins somewhere between 7500 and 5000. Which would be a lovely problem to have for a lot of us.

If we have been into bitcoin for any period of time, then I would not characterize a drop between $7500 and $5k as any kind of a "lovely" problem, even though it may be a manageable problem in which we could make lemonade out of lemons.

Furthermore, if you have been in the BTC space for any kind of significant period of time, even if you may be decently prepared for further downwards price movements, you have had plenty of opportunities to accumulate bitcoin at lower prices, so there really does not seem to be any "lovely" reason(s) to experience further downward price movements, except merely some of the additional purging of weak hands that is likely to occur and also the possibilities of some of the additional purging of some of these alt coin and scam ICO projects that would also be likely to occur with further downwards price plays.

[Ibian]

Doesn't legendary mean anything?

Good fucking question.

[Ibian]

Alright, so I have been to the big free museum in Wellington, to the harbor where every single boat is behind a locked gate, and plan to go to the night market today (it closes at 11 pm, not actually a "night" market).

Is there anything else I absolutely have to see or do before I descend into a two day drinking binge?

[bluebits]

Yesterday: Lightning goes beta
Today: Visa head honcho opines on bitcoin below
https://www.c[Suspicious link removed]m/2018/03/16/visa-finance-chief-attacks-bitcoin-bubble.html

Lightning: would cost about 1c or even less for merchants to accept
Visa: costs 3% (at least) for merchants to accept

Hmmm, I wonder what may win out eventually

"This is the ultimate thing that you hear about when you have a bubble, when the guy shining your shoes tells you what stock to buy," the Visa executive said.

This quote sums up the mentality of these guys

Their mentality is spot-on. You can't convince these people to load in, they have to do if for themselves at the absolute peak. Almost everything said by these big bankers is trivially true, I think this explains the reactions from Dimon etc when BTC is brought up, it is a form of bemusement on their part that people cannot see something so obvious.