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

[pokerman]

Someone having a BTC1mil or a group having BTC1mil (AHA) bothers me more than BTC crashing to $200. Hopefully this is them cashing out and not manipulating to rebuy even more

And you are quite right to be bothered!

you're a dick, everyone knows bitcoin is volatile and most enter with only what they are willing to lose - there is mention of weak hands being played here, I don't think there are that many - more like greedy hands and greedier hands, selling on the way down with the intention to buy back in but I guess we'll see within a couple of days.

you also talk about the top 50 owning 30%, I don't know if that's true but in the fiat world the top 1% own 41%, the top 10% own 86% and we know they are for the most part, evil mother fuckers so bitcoins distribution is still a definite improvement.

A lot of people don't understand the volatility of bitcoin, especially when their main sources of information on bitcoin is this forum and the Bitcoin subreddit, both of which have an undeniable ''The only way is up'' kind of attitude.
The average person doesn't understand that past performance does not equal future success, they see that bitcoin has quadrupled in the past month and they want to make a quick buck.

1% owning 41% of wealth is 7 million people owning 41% of wealth, an average of 0.00000585% each.
50 people owning 30% of wealth is equivalent of owning 0.6% of wealth each.
This is over 100,000 times worse than the society we live in today!

This can not and will not happen.

[Nolo]

This was funny the first time I saw it, and for the last couple of days it has been mildly annoying.

Now, I cling to it.   Every time I consider selling, I check the price on Bitcoinity, and I am reassured.


Douglas Adams was onto something.  I am now going to cultivate an NMP field around bitcoin until Monday.  Goodnight.

I always check this site when I start to doubt: http://shouldipanicsell.com/

[windjc]

Since everyone wants to compare this to April...

In April the 3rd day reached the lowest point of the crash - around $50 - that number was never touched again.

This is the 3rd day and the crash reached $650. Will it hold? Certainly it will be tested.

I don't think it will hold. But if we consolidate above $650 for some prolonged time, it will be the most bullish thing that has technically ever happened to Bitcoin.

This is the "crash" everyone has been talking about. This is not a correction. But is this the bottom?

I think we probably go lower than $650. If we do, that's fine, I will rebuy at a more obvious bottom. If we do hold, I'm happy to buy back a little higher too.

[emanymton]

Pannicked. Sold BTC and bought LTC... Sigh... now I'll wait until LTC is 0.1 BTC to rebuy. Long way to go...

never admit you panic ..you are just following a "unique strategy" don't ya know....(hey works for me)

do tell, what is the unique strategy?

mines to panic sell near the bottom, then buy back much higher just before the next crash...
throw in a bit of gox lax and you got urself a winner 

[beetcoin]

while there may be some legitimate similarities between april and this crash, there are a lot of strikingly unique things about this rally.

it has lasted longer.
the ATH stabilized for a lot longer.
the top was more resistant than the april rally.

[windjc]

while there may be some legitimate similarities between april and this crash, there are a lot of strikingly unique things about this rally.

it has lasted longer.
the ATH stabilized for a lot longer.
the top was more resistant than the april rally.

Yeah, its amazing how many hundreds of threads have talked about this rally as if it is a repeat of others.

Each rally is different with its own set of characteristics.

[JimboToronto]

Since everyone wants to compare this to April...

In April the 3rd day reached the lowest point of the crash - around $50 - that number was never touched again.

This is the 3rd day and the crash reached $650. Will it hold? Certainly it will be tested.

I don't think it will hold. But if we consolidate above $650 for some prolonged time, it will be the most bullish thing that has technically ever happened to Bitcoin.

This is the "crash" everyone has been talking about. This is not a correction. But is this the bottom?

I think we probably go lower than $650. If we do, that's fine, I will rebuy at a more obvious bottom. If we do hold, I'm happy to buy back a little higher too.

Maybe this is the bubblepop, but maybe it's just a flash crash caused by misinterpretation of news.

[Equus]

I always check this site when I start to doubt: http://shouldipanicsell.com/

I have  a new homepage, thanks.

[DPoS]

Since everyone wants to compare this to April...

In April the 3rd day reached the lowest point of the crash - around $50 - that number was never touched again.

This is the 3rd day and the crash reached $650. Will it hold? Certainly it will be tested.

I don't think it will hold. But if we consolidate above $650 for some prolonged time, it will be the most bullish thing that has technically ever happened to Bitcoin.

This is the "crash" everyone has been talking about. This is not a correction. But is this the bottom?

I think we probably go lower than $650. If we do, that's fine, I will rebuy at a more obvious bottom. If we do hold, I'm happy to buy back a little higher too.

3 weeks ago we were toiling around 400

[spoorancher]

I am here to try and gain perspective into why people think that bitcoin is such a solid investment. In the real world there is no such thing as guaranteed returns, yet so many people here are applauding every time a man sticks his entire retirement fund into bitcoin or a kid who has been saving up for college hears about how bitcoin can double his money in a week decides it would be a good idea to put in all into bitcoin. You welcome these vulnerable naive people with open arms. It is you sir who is deplorable.

you're a dick, everyone knows bitcoin is volatile and most enter with only what they are willing to lose - there is mention of weak hands being played here, I don't think there are that many - more like greedy hands and greedier hands, selling on the way down with the intention to buy back in but I guess we'll see within a couple of days.

you also talk about the top 50 owning 30%, I don't know if that's true but in the fiat world the top 1% own 41%, the top 10% own 86% and we know they are for the most part, evil mother fuckers so bitcoins distribution is still a definite improvement.

I guess that puts me somewhere between deplorable and meh. 

[beetcoin]

Since everyone wants to compare this to April...

In April the 3rd day reached the lowest point of the crash - around $50 - that number was never touched again.

This is the 3rd day and the crash reached $650. Will it hold? Certainly it will be tested.

I don't think it will hold. But if we consolidate above $650 for some prolonged time, it will be the most bullish thing that has technically ever happened to Bitcoin.

This is the "crash" everyone has been talking about. This is not a correction. But is this the bottom?

I think we probably go lower than $650. If we do, that's fine, I will rebuy at a more obvious bottom. If we do hold, I'm happy to buy back a little higher too.

Maybe this is the bubblepop, but maybe it's just a flash crash caused by misinterpretation of news.

i may sound like a crazy conspiracy theorist, but i think it's more of a manipulation of the game by the chinese. the people behind baidu had to have known that coming out with this news would crash the price on some level.

[Nightowlace]

Guys don't panic that was just the FBI cashing out.

[JimboToronto]

Guys don't panic that was just the FBI cashing out.

Not until after the trial.

[DPoS]

Guys don't panic that was just the FBI cashing out.

Not until after the trial.

will they bust the current DPR and have more coins before this one's trial is completed?

[accord01]

I can't believe some of you guys were like oh it's over, because of that gox lag bull crap that just halted the crash.

[MikeH]

1% owning 41% of wealth is 7 million people owning 41% of wealth, an average of 0.00000585% each.
50 people owning 30% of wealth is equivalent of owning 0.6% of wealth each.
This is over 100,000 times worse than the society we live in today!

This can not and will not happen.

That does sound worse but I made the mistake of quoting mainstream sources - you'll never see the real wealth in Forbes top 100 like the Rothschilds trillions, and we all know they are freaking crooks.

[derpinheimer]

Is the guy who has had a 1mUSD bidwall @ $100 on Bitstamp finally going to get the last laugh?

I hope not, but it sure would be an interesting turn of events.

[Vigil]

The arm of death is forming at $747. Here we go fellas, hang on to your hats!

[Argwai96]

The arm of death is forming at $747. Here we go fellas, hang on to your hats!

what is the arm of death?

[pera]

Is the guy who has had a 1mUSD bidwall @ $100 on Bitstamp finally going to get the last laugh?

I hope not, but it sure would be an interesting turn of events.

lol that would be epic!