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

[Arriemoller]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

The relevance is, if someone wants to use crypto they are not forced to use bitcoin, and altcoins absorb market cap that bitcoin could have had, lowering bitcoin's price in the long run and also removing arguments about scarcity because crypto is anything but scarce now.

That's like saying that the price of a Rolex will tank if there are too many other watch brands on the market.
The price of a Rolex has nothing to do with the price or volume of a Timex.

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[TERA2]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

The relevance is, if someone wants to use crypto they are not forced to use bitcoin, and altcoins absorb market cap that bitcoin could have had, lowering bitcoin's price in the long run and also removing arguments about scarcity because crypto is anything but scarce now.

That's like saying that the price of a Rolex will tank if there are too many other watch brands on the market.
The price of a Rolex has nothing to do with the price or volume of a Timex.

Rolex watches are collectors items (not utility) and timex watches are used for telling time. Rolex and timex are not in any competition or similarity at all. The total market cap of all rolex watches is less than $1B and money supply is not a limiting factor. Rolex and timex are not competing to be the entire money supply. This analogy makes no sense.

[mindrust]

Rolex watches are collectors items (not utility) and timex watches are used for telling time. Rolex and timex are not in any competition or similarity at all. The total market cap of all rolex watches is less than $1B and money supply is not a limiting factor. Rolex and timex are not competing to be the entire money supply. This analogy makes no sense.

Actually it kinda makes sense to me. If Nobody buys Rolex, Rolex as a company that mints Rolexcoins will go out of business.

Just like Gibson as a guitar company who mints GibsonCoins is about to go out of business because nobody's buying their overpriced coins anymore while there are Chinese/Japanese models which do the same thing (creating sounds) for a lot cheaper price.

https://www.cnbc.com/2018/02/19/guitar-company-gibson-reportedly-facing-bankruptcy.html

[Arriemoller]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

The relevance is, if someone wants to use crypto they are not forced to use bitcoin, and altcoins absorb market cap that bitcoin could have had, lowering bitcoin's price in the long run and also removing arguments about scarcity because crypto is anything but scarce now.

That's like saying that the price of a Rolex will tank if there are too many other watch brands on the market.
The price of a Rolex has nothing to do with the price or volume of a Timex.

Rolex watches bitcoins are collectors items (not utility) and timex watches shitcoins are used for telling time nothing really. Rolex bitcoin and timex shitcoins are not in any competition or similarity at all. The total market cap of all rolex watches bitcoin is less than $1B a figure I don't know and money supply is not a limiting factor. Rolex bitcoin and timex shitcoins are not competing to be the entire money supply. This analogy makes no total sense.

[pacman7331]

Is this a weekend dump? Where’s the bottom?

[Arriemoller]

Is this a weekend dump? Where’s the bottom?

It's up some four percent on the three day chart right now, not exactly a dump.

[ivomm]

Well.. Most of optimistic holders right there were not expecting bitcoin to break 3.000$ after a dump from 2.980$ to 1.800$ and go as high as 20.000$ 4 months later.

The average optimistic bitcoin projections after we break 3.000$ was 5.000$ for the end of 2018, and we know what happens.. bitcoin goes x4 of that average expectation.

Now also we are in the same situation. A pullback from 20.000$ to 6.000$ Then a try to retest the 20.000$ and go above in next weeks.

Again the average optimistic holders are praying for a price of 20.000$ again before end of 2018. So maybe we are going to make x4 of the average expectation before end of 2018 For a bitcoin price of 80.000$.

When/If bitcoin gonna hit 80.000$ the very big hedge funds and the richest persons are going to enter the market. This gonna coincide with a bitcoin pullback from 80.000$ to 40.000$ only because this time there are the richest persons in the world  willing to buy bitcoin after bitcoin going to be the number one on internet trends from here. So.. its going to be a very big support, and from there the real big boom gonna happend ( duo to the amazing big big bang money coming) and take bitcoin price from 40.000$ to 500.000$ before end of 2019 And then bitcoin officially recognised as the new GOLD and all the powers gonna submit to the new worldwide king.

Thats my projection.

I know it sounds like impossible, but with bitcoin all is possible. He goes from cents to 20.000$ in 7 Years and you think its impossible he make X25 in 2 years from the 20.000$ registred on december 2017 to december 2019?

I like your way of thinking. Sometimes we are too consumed by the short term charts and miss the big picture. If we keep our faith in what seems impossible now, we will be rewarded sooner or later.

[xhomerx10]

Set a goal in life, figure out how much money you need to do it, and stick to the plan.

When bitcoin breaks 10k again I'm moving to Thailand to become a full-time monger.

 That's pretty generic.  What kind of monger would you like to be?  Fearmonger?

[El duderino_]

Is BTC going to crack the 10k This week once again...? I wouldn’t mind @all 

[Rosewater Foundation]

Set a goal in life, figure out how much money you need to do it, and stick to the plan.

When bitcoin breaks 10k again I'm moving to Thailand to become a full-time monger.

 That's pretty generic.  What kind of monger would you like to be?  Fearmonger?

This is a sex thing, if I'm not mistaken..

[xhomerx10]

Set a goal in life, figure out how much money you need to do it, and stick to the plan.

When bitcoin breaks 10k again I'm moving to Thailand to become a full-time monger.

 That's pretty generic.  What kind of monger would you like to be?  Fearmonger?

This is a sex thing, if I'm not mistaken..

 I am so out of touch... 

[Torque]

There will come a point when every single ERC20 hasn’t delivered on its roadmap and people will start to wisen up.  As one example, the market is saturated with Storj copycats.  You aren’t going to get people excited about decentralized storage anymore.  

I haven’t seen any convincing arguments about why VEN needs a blockchain and how they will stop corrrupt data being entered onto the chain. BCH, EOS and ADA are obvious scams, IOTA couldn’t untangle itself from a wet paper bag and I don’t need to discuss XRP, XLM or TRX.  

There really isn’t anything else useful or helpful that I have seen anywhere in the cryptosphere.  Happy to be told I am wrong and am missing things and for those things to be pointed out.

You are not wrong. Buying/trading for and holding some obscure crypto coin or token, on promises and wishful thinking that its supposed features will cause it to skyrocket in popularity in the future (with no parameters that define when "future" comes), is just the stupidest mentality imaginable. It's like a mental sickness.

It's like those clueless investors that pumped hundreds of millions of dollars into Theranos, keeping them afloat for a decade but never questioning that they're IP was complete vaporware and fraudulent.

I'm surprised there isn't a shitcoin yet that purports to one day cure cancer "in the future". I'm sure it would be quite popular with the crypto idiots.

Bitcoin has proven its usefulness as a secure, decentralized means of value exchange and ability to store value *now*, today.

[Kylapoiss]

Set a goal in life, figure out how much money you need to do it, and stick to the plan.

When bitcoin breaks 10k again I'm moving to Thailand to become a full-time monger.

Saw a man today (around 45-50) in Phuket riding a Harley wearing a cap with bitcoin logo on it. He had a young chick in the back, aged maybe around 20y. Wonder if he's someone from the forum

[Toxic2040]

Hello again.
Looking at a nice rising wedge to take us into the work week. By mid-week it appears price will head towards and test resistance above. Volatility looks to still be in play as we close out the work week Friday. #dyor

[Anon136]

Buying/trading for and holding some obscure crypto coin or token, on promises and wishful thinking that its supposed features will cause it to skyrocket in popularity in the future (with no parameters that define when "future" comes), is just the stupidest mentality imaginable. It's like a mental sickness.

Worked well enough for me with IOTA, Monero, NXT and Bitcoin. Bitcoin was definitely "some obscure crypto coin" when I first arrived here.

[Jacques_Bittard]

If EOS (or the other competitor) convinces people into using their platform rather than using ETH, ETH will die.

Same can happen to bitcoin too *god forbid* if bcash succeeds.  

When has that ever happened, that new, technologically more advanced and efficient products replace the old ones in some industry?

[mymenace]

If EOS (or the other competitor) convinces people into using their platform rather than using ETH, ETH will die.

Same can happen to bitcoin too *god forbid* if bcash succeeds.  

When has that ever happened, that new, technologically more advanced and efficient products replace the old ones in some industry?

Huh?

EOS replace the system it is built on - Ethereum

Did i miss something?

[mymenace]

Set a goal in life, figure out how much money you need to do it, and stick to the plan.

When bitcoin breaks 10k again I'm moving to Thailand to become a full-time monger.

Saw a man today (around 45-50) in Phuket riding a Harley wearing a cap with bitcoin logo on it. He had a young chick in the back, aged maybe around 20y. Wonder if he's someone from the forum

Paul Edward Vernon

[jojo69]

USD is the main currency in the US because of laws. There is no such law for Bitcoin. There is no way we can force or compel the average user to use the real bitcoin. .

ahh, but there is, it is called Gresham's law

[oblox]

Is this a weekend dump? Where’s the bottom?

Probably should watch your RSI. lulz.