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

[El duderino_]

I am not considering this a dump. Nowhere near. This is just a healthy correction. If you take a look at he charts you'll see.


See? We are still on track.

On the other hand, I am not saying this will go like this. It very well may not. All I'm saying is its too early to call it a "dump". Mmm mm no no no. Get back to $1-2k and that's what I would call a "dump". %80 of the people here won't give a damn as long as we stay above $5k. If we ever get to see $1k however...

offcourse but for these people that don't give a fuck just wanna stay above 5k .... there much more comfertable @ +8-9-10K....

as myself i even didn't wanna see ATH ever drop again  but i just follow where the ship is going to, its logical even when we hit 5-digit numbers no one really wants too go back too 4-dig. again but it is what it is
for me we can't go fast enough up .... BUT if the ride says down first than down it is

[bakasabo]

https://i.imgur.com/jhMKz4H.png

Akteevayte quantoom eemortalytee

This looks like a magic spell

According to coinmarketcap graph we are moving slowly up. Hope we reach yesterdays price of +7300-7400

[pacman7331]

only way we gonna get a bullish weekend is if we rebound off all time lows

All time lows are around .005 cents. FYI

2018 all time lows.

[Totscha]

https://i.imgur.com/jhMKz4H.png

Akteevayte quantoom eemortalytee

This looks like a magic spell

According to coinmarketcap graph we are moving slowly up. Hope we reach yesterdays price of +7300-7400

Day - down
7 day - down
1 month - down
3 months - down

Where can I find this mythical uptrend you are suggesting?

[bakasabo]

https://i.imgur.com/jhMKz4H.png

Akteevayte quantoom eemortalytee

This looks like a magic spell

According to coinmarketcap graph we are moving slowly up. Hope we reach yesterdays price of +7300-7400

Day - down
7 day - down
1 month - down
3 months - down

Where can I find this mythical uptrend you are suggesting?

I was just looking on todays trades on binance with 15min filter and it shows that the price is going up from 6566.69 to 6,785.26$ and heading up.

Yesterday I was checking exchange at approximately same time and the price was 7300$ +/-.

[serveria.com]

https://i.imgur.com/jhMKz4H.png

Akteevayte quantoom eemortalytee

This looks like a magic spell

According to coinmarketcap graph we are moving slowly up. Hope we reach yesterdays price of +7300-7400

Day - down
7 day - down
1 month - down
3 months - down

Where can I find this mythical uptrend you are suggesting?

Were you able to find an uptrend before all previous major pumps?    If it would be so obvious everybody would become a billionaire!

[El duderino_]

mmmmm the nice road we are driving on , take us home too the moon where we belong .....

[Totscha]

https://i.imgur.com/jhMKz4H.png

Akteevayte quantoom eemortalytee

This looks like a magic spell

According to coinmarketcap graph we are moving slowly up. Hope we reach yesterdays price of +7300-7400

Day - down
7 day - down
1 month - down
3 months - down

Where can I find this mythical uptrend you are suggesting?

Were you able to find an uptrend before all previous major pumps?    If it would be so obvious everybody would become a billionaire!

Yes. 2016 was a year long steady uptrend.

[marcus_of_augustus]

... allow me to butt in ... while the total expansion capacity of bitcoin value might seem infinite from our current 'small-time' vantage point it is most definitely finite, realistically we have at most 1.5 to 2 pimple tricks remaining (1 order of magnitude expansion over previous). A btc valuation in the USD300-700k range puts it at ~10trillion market cap or ~10% of global fiat monetary supply.

Another pimple trick after that would be almost total global domination of all monetary assets, which while possible is probably not realistic or desirable anyway.

Bitcoin currently has a market cap of $116 billion.  The NYSE has a combined market cap of $21 trillion.  It seems reasonable enough that the Bitcoin ecosystem could rival the NYSE in market cap, especially if security tokens start cannibalising the traditional stock exchange model.  Of course to get there, we need side chains which can provide coloured coins or similar tokens.  But people are working on it.  

... for these purposes, comparing bitcoin 'market cap' with NYSE market cap would be only be marginally useful and maybe even misleading. Stocks on the NYSE are shares in companies that generate earnings. Bitcoin is primarily a monetary asset, like gold, euro, jpy, FRN debt notes (and their electronic substitutes), total monetary assets on the globe total ~$100 trillion equivalent.

However it is not cut and dried, since the current western monetary model of using Tier 1 capital (usually sovereign and multi-national corporate paper) to 'back' fiat deposits, through fractional reserve models, has muddied the accounting waters sufficiently that devising reliable metrics for assessing total 'monetary' assets quickly becomes a confidence game of which nutshell has the pea under it. Now factor in depreciating fiat promissory notes, through intentional monetary inflation, that scares a lot of wealth into many alternative assets such that real estate, fine art, collectibles like classic cars, etc become partially 'monetised' in waves of successive speculative bubbles. Then the total available market/latent demand for a sound currency (mildly deflationary or neutral) that can successfully be used for global medium of exchange, storage of value and unit of account, could conceivably be as high as ~$200 trillion (today usd equivalent), after all the speculation, excesses, misallocated resources and monetary premiums are drained out of other assets that it is suboptimal to have monetised.

[HairyMaclairy]

My good sir, the stock exchange model with its broker dealers is under threat.  We will see entities such as Circle list regulated security tokens by the end of this year.   The barbarians are at the gate and the NYSE and their ilk know it.   The SEC can stand and fight the good fight, but no regulator wants to see its markets quashed by more agile international competitors.  They would have nothing left to regulate.  The SEC will bend like the wind in the willows.  

I was talking about the value of the Bitcoin ecosystem if all shares currently listed on the NYSE were converted into dividend paying security tokens.  Paying dividends in Bitcoin, stable coins or something else.  But Bitcoin has the capability of being the global securities system and a global currency, all rolled into one.

It is coming.  Bitcoin is far more than merely sound money.  We must take off our 2014 eye glasses and put on our 2020 spectacles.  

[dxbcoin]

Aren’t we already pretty much oversold yet?

Nah man, look at the RSI on Daily chart, it showed the price has been trying to go up but whenever it got out of oversold area, it went up not so much then the bear 🐻 push it down again. Sighs

[TERA2]

Oh yes well have the entirety of the world's assets on a single irreversible ledger. That way when the technology fails or there are cracks or a private key is misplaced, it can create catastrophic failures in the entire world economy. All at once - boom - gone *troll meme in background*.

[Torque]

Stocks on the NYSE are shares in companies that generate fake earnings through massive stock buybacks and other accounting chicanery.

FTFY. Sorry marcus, I couldn't resist.  

Prime example: http://www.businessinsider.com/apple-stock-buyback-program-2018-4

[HairyMaclairy]

Oh yes well have the entirety of the world's assets on a single irreversible ledger. That way when the technology fails or there are cracks or a private key is misplaced, it can create catastrophic failures in the entire world economy. All at once - boom - gone *troll meme in background*.

Side chains my good ratchet kid.    And perhaps we need to allow for a multi chain multiverse, but not the shitcoins of yore, who copy paste code and accidentally hard fork. 

[Torque]

The crypto FUD is not relegated to just Bitcoin. Look at how the whale manipulators PnD'ed Overstock.com's stock.

https://www.ccn.com/overstock-cancels-secondary-stock-offering-after-share-price-plummets/

But of course, who didn't see that coming.

[Last of the V8s]

By the end of 2017, every last 'investor' on the planet finally saw that Bitcoin and the altcoins are capable of 10x bubbles on the turn of a sixpence.

Such people will come in wave upon wave, each one chancing say 1% of their spare capital on 'blockchain', 'startups', 'the new Bitcoin' or Bitcoin.

The finite supply of bitcoins inherently defeats the long-term bearish posture; its network effect and prime mover status beats all other 'investments'.

Accept no counterfeits or substitutes.

As bubbles come and go and yet the underlying 'price' increases, dollars and yuan will be worth less and less. Worthless.

[TERA2]

I dont know alot of about economics but another thing I'm wondering is why bitcoin value would grow to include stocks and how stocks would be 'on bitcoin' and raising bitcoin's value.  Are stocks 'on usd' somewhere doubling the value of usd? Where is their value represented besides the stocks themselves? If we have stocks and then we have the bitcoin value that has grown to represent stocks, then we now have effectively doubled the representation of these assets so the monetary pool is 2x inflated. Please explain.

[Torque]

The only real benefit to putting company stocks on a blockchain, is that the end Joe investor could lay claim to the actual stock shares. Which is completely impossible to do today.

It would also effectively end creative tactics such as naked shorting, stock leasing (i.e. re-hypothecation of stocks) and 'phantom shares'. And in many cases, the out-and-out fraud of creating new stock shares out of thin air.

But I'm skeptical, because for these very reasons the financial trading establishment won't adopt stock issuance on a blockchain. It would completely end their corruption, and they're not going to stand for that.

It would also have to be open source and transparent in order for Average Joe to have full trust and faith in it. Something else the establishment is not going to allow.

[Ludwig Von]

Stocks on the NYSE are shares in companies that generate fake earnings through massive stock buybacks and other accounting chicanery.

FTFY. Sorry marcus, I couldn't resist.  

Prime example: http://www.businessinsider.com/apple-stock-buyback-program-2018-4

Don 't forget the corporate borrowing for paying very generous dividends... .

[Torque]

Stocks on the NYSE are shares in companies that generate fake earnings through massive stock buybacks and other accounting chicanery.

FTFY. Sorry marcus, I couldn't resist.  

Prime example: http://www.businessinsider.com/apple-stock-buyback-program-2018-4

Don 't forget the corporate borrowing for paying very generous dividends... .

Oh yeah, forgot that. But isn't that coming to an end for them soon?  Oh wait that's right, the tax holiday for repatriation.