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

[Toxic2040]

Squirrel looks for more corn.
I still think its going to pump in about 24-36 hours..but hey, I was wrong 3 times already today..whats one more time. Hubris is a fine thing. Goodnight.  #dyor  

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[ivomm]

I am panic buying with my last fiat reserve   Currently Bitcoin mining revenue is around 0.5$ per Th, meaning that s9 revenue is around 7$ (x14) per day with cost of electricity 1.7-3.4$ depending on the price (0.05$ - 0.1$). Not to mentioin the price of the rent/cooling etc. Last month the revenue dropped to 0.45$ - the lowest in the last 5 years. According to the diff. chart in 6 monts with the current price the revenue will be around 0,125$ per Th, i.e., 1.75$ per day, which is not enough to cover the electricity price. Of course, when this price is reached many miners will switch on/off their asics depending on their price of electricity. So the big mining farm whales are preparing to raise the price 2x-5x in the coming months. This is a child play for them, considering the income of Bitmain only. And we are talking only about miner whales. Wall street is just to enter massively the market, knowing that the time to buy cheap is running away.

[Asrael999]

As always nobody has a clue.

TAs should be banned from crypto.

Just go and look at the bitstanp chart from 2/12/13 - 5/14 and compare it to the chart from 12/17 - now.   Then look at what happened in the second half of 2014.
See the pattern emerging? It's a classic bubble pop still , hope and fear at war , boredom has to set in before we can recover properly.

[El duderino_]

i never look @TA ..... i don't understand it really BUT i do think to all line drawings each day, 1 eventually will fit

however when bullish lines i like it as amusement to watch .   

[Torque]

Careful not to get roached.  I can see how that strategy might work out well but I wouldn't call that maxamalism, Maybe more like gambling especially to drop the full load. HODL and acquire because you understand and believe bitcoin is revolution seems more like maxamalism traits to me.

A Bitcoin maximalist believes that even holding bitcoin through the upsides and downturns, it still represents a greater long store of value than fiat. If you look at the averages for YoY return over a 3-5 year period, you would definitely find that to be accurate. So if you're not holding bitcoin at all, you're not a bitcoin maximalist.

A Bitcoin maximalist also says, "Well if any other alt's only utility to me is some occasional or odd spending function that I can't currently do with bitcoin, then why hold that alt at all? What would be the point? Why can't I just trade for it if/when I need it, at the time I might need it?" In other words, holding alts makes zero sense if you believe that bitcoin is the superior store of value, the superior cryptocurrency period. Especially if you aren't even sure that altcoin is even going to be around in 1-2 years from now, or even 5 years.

If you're holding some alt just to play lotto and hope it skyrockets so that you can sell it all, then you're just gambling. You're not serious about the future of that altcoin at all. Which is exactly what 99.9999% of shitcoin holders are doing.

This is easily provable to be true, because all supposed shitcoin beliebers held exactly zero shitcoins before the Great Shitcoin Pump back in March 2017. No one cared about them. Like at all. They were derided as a bad joke. So a rising price alone doesn't suddenly give something greater value or greater utility. You have to look no further than the penny stock market to see that truth.

[buyandhold]

Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?

[xhomerx10]

Meanwhile for the really important news:
https://www.cnbc.com/2018/05/14/those-lambos-parked-at-the-bitcoin-conference-are-just-a-promotion.html

Interesting that the bitcoin (or crypto) lambo meme has some foundations in "fake" news.      Saddens me.

 I believe in this case, marketers simply used an existing trend.  The foundations are based in Bitcoin created wealth rather than "fake news".

Really, I was trying to get at the question of the Lambos being planted at Consensus 2018, rather than the fact that real bitcoiners do actually buy Lambos when they are beginning to rake in the dough.  Maybe also, I was joking too much, because I did realize that it would have been quite probable that some folks had invested less than $10k into crypto - even Ethereum in the single digits, and were able to ride various waves into Lambolandia.

So, yes, there could be quite an appeal to have Lambos parked at these kinds of crypto events for marketing purposes, even when it ends up that those lambos are not owned by actual conference attendees.  Personally, I would not even want draw that much attention to myself, in terms of having anyone know that I was able to get the lambo through crypto rather than some other way of getting it that would not draw so much attention to me as a possible robbery target.

 Good point.  It's not a good idea in many areas to draw too much attention to your wealth unless you can also afford really good security.  Even if I could afford the Lambo, I would rather help out my family financially.  Now if I was stinkin' rich I might rent one just to drive it... ah, that's a pipe dream because that would also mean McAfee doesn't have to scarf down his wiener and beans.
 On a side note, the image I posted didn't look so large on my screen when I captured it.  It looks like I was yelling but that wasn't my intention.

[Torque]

The Lambo thing has become an in-joke that I really wish would go away.

The MSM likes the analogy and association because it paints Bitcoiners as petty and childish asshats. Kinda like Tai Lopez.

Lambos are better associated with the BCash and ICO/shitcoin crowd. I mean, Roger and CSW drive them, so....?

[Mister_Success]

The Lambo thing has become an in-joke that I really wish would go away.
The MSM likes the analogy and association because it paints Bitcoiners as petty and childish asshats.
Lambos are better associated with the BCash and ICO/shitcoin crowd. I mean, Roger and CSW drive them, so....?

Well said. Lambos are gauche symbols for the uncultured nouveaux riche who crave attention.

Or for car people. Don't forget the world isn't black and white. It's been my dream to own a Lamborghini since I was a small child because I like them. No need for the hate.

[Totscha]

The Lambo thing has become an in-joke that I really wish would go away.
The MSM likes the analogy and association because it paints Bitcoiners as petty and childish asshats.
Lambos are better associated with the BCash and ICO/shitcoin crowd. I mean, Roger and CSW drive them, so....?

Well said. Lambos are gauche symbols for the uncultured nouveaux riche who crave attention.

Or for car people. Don't forget the world isn't black and white. It's been my dream to own a Lamborghini since I was a small child because I like them. No need for the hate.

Not all BMW drivers are douchebags, true. But they all have to live with the stigma that was earned by the uncultured majority Same goes for Lambo owners... Sorry

[Torque]

It's hilarious to me watching the wealthy elites aimlessly flail around trying to improve the world's economies. They're in complete panic mode.

But the recovery all hinges on one pivotal thing: the Western consumer getting back to over-consuming and piling on more debt, like they desparately need them to be doing.

And that, my friends, just ain't happening. Like at all. Dead stop. And all the flailing around is powerless to jump-start it again. You can't 'force' people to consume against their will.

https://fred.stlouisfed.org/series/M2V

[Speculatoross]

MTGox address moving ~13000 BTC today
https://blockchain.info/address/16ftSEQ4ctQFDtVZiUBusQUjRrGhM3JYwe

[kaicrypzen]

MTGox address moving ~13000 BTC today
https://blockchain.info/address/16ftSEQ4ctQFDtVZiUBusQUjRrGhM3JYwe

So, what we see is that https://bitinfocharts.com/bitcoin/address/16ftSEQ4ctQFDtVZiUBusQUjRrGhM3JYwe a Binance wallet address has received 13700+ BTC from https://bitinfocharts.com/bitcoin/address/1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s also a Binance wallet address. These are displayed in https://blockchain.info/address/16ftSEQ4ctQFDtVZiUBusQUjRrGhM3JYwe as 6 transactions of 2000 BTC plus 1 transaction of 1700+ BTC. How do you know where these 13700+ BTC come from (before landing on the Binance address 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s)? Or is it obvious and I'm just missing something? Thx.

[Speculatoross]

MTGox address moving ~13000 BTC today
https://blockchain.info/address/16ftSEQ4ctQFDtVZiUBusQUjRrGhM3JYwe

So, what we see is that https://bitinfocharts.com/bitcoin/address/16ftSEQ4ctQFDtVZiUBusQUjRrGhM3JYwe a Binance wallet address has received 13700+ BTC from https://bitinfocharts.com/bitcoin/address/1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s also a Binance wallet address. These are displayed in https://blockchain.info/address/16ftSEQ4ctQFDtVZiUBusQUjRrGhM3JYwe as 6 transactions of 2000 BTC plus 1 transaction of 1700+ BTC. How do you know where these 13700+ BTC come from (before landing on the Binance address 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s)? Or is it obvious and I'm just missing something? Thx.

Because i'm an idiot and didn't check the fud before re-posting this

[Dakustaking76]

Fuckers playing with the price

[Torque]

Funny how Bitcoin is not the only thing disrupting a stodgy, insular industry that haughtily classifies and defines "what is __________" to protect its own self-serving interests.

https://www.theguardian.com/news/2018/may/15/has-wine-gone-bad-organic-biodynamic-natural-wine

But among wine critics, there is a deep suspicion that the natural wine movement is intent on tearing down the norms and hierarchies that they have dedicated their lives to upholding. The haziness of what actually counts as natural wine is particularly maddening to such traditionalists. “There is no legal definition of natural wine,” Michel Bettane, one of France’s most influential wine critics, told me. “It exists because it proclaims itself so. It is a fantasy of marginal producers.” Robert Parker, perhaps the world’s most powerful wine critic, has called natural wine an “undefined scam”.

Gee, sound familiar?

[supertee]

Because i'm an idiot and didn't check the fud before re-posting this

3 Merits for self-recognition. 

[Derpinheimer2]

That whale manipulator who makes the charts jump up and down 100's of dollars in minutes is back. Last time they did this for a few days, the price jumped from 7000 to 8000 in a half hour, IIRC. Makes me think we are heading towards one of two things:

A: Price jumps up $1000, continuing the pattern of smaller spikes followed by a huge one.
B: Price dumps below $7000, undoing the original mega-pump, but following the pattern of randomly jumping up and down.

[vroom]

That whale manipulator who makes the charts jump up and down 100's of dollars in minutes is back. Last time they did this for a few days, the price jumped from 7000 to 8000 in a half hour, IIRC. Makes me think we are heading towards one of two things:

A: Price jumps up $1000, continuing the pattern of smaller spikes followed by a huge one.
B: Price dumps below $7000, undoing the original mega-pump, but following the pattern of randomly jumping up and down.

these pump and dump spikes are really suspicious. how many bitcoin/dollars are required to make such moves?

[Toxic2040]

Good morning. Sideways, upwards and downwards accumulation.
Cat stands tall but humble today.