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

[kurious]

MtGox enters Civil Rehabilitation:
https://mtgox-creditors.com/

Fingers crossed...

[Last of the V8s]

[TERA2]

I have to admit it was funny when we were at 20K and there were all those youtube ads with that Jewish guy walking around his house full of bling telling you how hes been talking to the guys at the casino and bitcoin is just getting started because those two pizzas. And the banner ads with ugly rich looking guys now subtitled with something about Bitcoin who I knew probably never had anything to do with bitcoin. I coudn't have charted a better sell indicator.

[El duderino_]

you guys think the bottom is near ?

[realr0ach]

Posting this here so you guys can quote it after it happens:

I've done probably hundreds of different analysis and correlation for silver and I always get the same close range of numbers for where the next price rise will be (in current dollar purchasing power):  around $74-80.  But the number $74 specifically comes up a lot.  I imagine it might dump from there to use $50ish as a base, then the next target after that all the numbers I have pointing to are around $120.

[TERA2]

How is any of this relevant to TA on Silver prices?

[El duderino_]

Price went down sharp last WHY?   1 of the big reasons .... BELGIUMS know there team is going to go deep into the WORLD CUP so whats the problem they are belgium so big beer drinkers and next game is today @14cet   so ofcourse they needed to sell btc's quickly to be able of getting completly f***** Up on BELGIUM - TUNESIE   "all eyes on HAZARD btw...."  
for the rest #WON a f****** BIG DIP yesterday

let the game be good and i wille be rekt as well this afternoon ......................  maybe gonna make a BTC bet on belgium handicap  

[luckygenough56]

By the end of July we shall see price above $10k.

At any second Bitfinex owners and their tether scam can bring the price there by fraud.  But they move the price through trading on their own exchange and using fractional reserve.  So that's the catch, they will not attempt a fractional reserve pump and dump scam unless they know they can find buyers at the top of the pump.  Otherwise their fractional reserve fraud implodes and they steal all customer funds while claiming they got hacked like they did right after the halving.  

This is why the scammy tether audit by those lawyers is a joke.  All they're saying is "on this specific date, we are currently not engaged in a huge fractional reserve scam, but we would like to be in the future again".  This is also why they use tethers in the first place, as a loophole to try and prevent regulators from examining their activities, because using dollars would bring their fractional reserve pump and dumps more scrutiny.  It's a bucketshop where they trade on their own exchange and both naked long and naked short.

The entire staff of Bitfinex should be in prison for criminal conspiracy, fraud, and numerous other charges (as well as a lot of people in the US banking system, but that's a different story).

i always like reading your posts dude, you're like the only lucid guy here haha.

[realr0ach]

Bitcoin is not the entire knowledge age. It is a component and will serve its role.

None of your posts are compatible with each other.  One day you're claiming bitcoin is a "Rothschild" system of control, the next post you're claiming (in my summarized words) that bitcoin is a form of creative destruction to replace the previous dysfunctional system.  It's OBVIOUSLY not a form of creative destruction if it's a Rothschild scam.  It would mean pretty much nothing changes.  You also claim the expansion of entropy is a constant, which is generally true, then pretend nature is just going to allow some stagnant Rothschild dictatorship to last in perpetuity under bitcoin.

All of these ideas are completely incompatible.  As for my view, it does not matter who created bitcoin or for what reason.  It's a dysfunctional, inefficient, non-fungible, Rube Goldberg machine whose transaction validators are designed to centralize into a permissioned ledger of black lists, functioning only as a system of control and nothing else.  Therefore, it's obviously not creative destruction and nature will sweep it away like the garbage it is to cure that problem of the expansion of entropy and reduction in stagnation.

[bitebits]

MtGox enters Civil Rehabilitation:
https://mtgox-creditors.com/

Fingers crossed...

Is it already known how the creditors will be credited, fiat or bitcoin?

Still good news for the decentralization of Bitcoin if indeed the surplus is not distributed to just a few shareholders of MtGox.

[Majormax]

By the end of July we shall see price above $10k.

Not going to happen.

Just as likely to see price at 2k.

Random move, 4k up or 4k down. No analysis.

[El duderino_]

For the rest when the game runs as late as yesterday .......

the fun part is NOBODY on the table needed coffee when we all SAW BTC down 8-9 % 

[samson]

MtGox enters Civil Rehabilitation:
https://mtgox-creditors.com/

Fingers crossed...

Is it already known how the creditors will be credited, fiat or bitcoin?

Still good news for the decentralization of Bitcoin if indeed the surplus is not distributed to just a few shareholders of MtGox.

I believe it should be a mix of both Bitcoin and cash. The trustee in charge of MtGox already has enough money in the bank to cover all the original claims which was about $450 million, maybe more - I think.

My guess would be that he pays a mixture of fiat and BTC as I'm very sure a massive percentage of people who claim Bitcoin will all want Bitcoin back and I really doubt he will buy Bitcoin to make payments.

[El duderino_]

Was looking like $6000 would hold.

Whales pushing hard now, this is going under $6000 in the next hour

Looks like Doug Polk just lost his bet a few minutes ago.    

[JayJuanGee]

By the end of July we shall see price above $10k.

Not going to happen.

Just as likely to see price at 2k.

Random move, 4k up or 4k down. No analysis.

Do you really have conviction about what you just posted?  Aren't you exaggerating, Majormax?  

Do you really believe that the odds of BTC's price going to $2k or $10k is the same?  

That means 50/50 odds, no?

Personally, I would give higher odds that BTC would reach and exceed $10k before touching $2k or going below that.   I have a decently strong perspective that BTC will NEVER see $2k again, but odds of reaching $10k are quite high, especially the longer the time frame, perhaps greater than 75%.  

If you really believe that the odds are 50/50, but I have pretty strong feelings that the odds are greater than 50/50 that BTC prices will touch on and/or exceed $10k first, then that might be worth some kind of gentleman's bet, no?  Do you feel strongly enough to bet some kind of token amount?  Maybe something in the .001BTC territory?

[El duderino_]

By the end of July we shall see price above $10k.

Not going to happen.

Just as likely to see price at 2k.

Random move, 4k up or 4k down. No analysis.

Do you really have conviction about what you just posted?  Aren't you exaggerating, Majormax?  

Do you really believe that the odds of BTC's price going to $2k or $10k is the same?  

That means 50/50 odds, no?

Personally, I would give higher odds that BTC would reach and exceed $10k before touching $2k or going below that.   I have a decently strong perspective that BTC will NEVER see $2k again, but odds of reaching $10k are quite high, especially the longer the time frame, perhaps greater than 75%.  

If you really believe that the odds are 50/50, but I have pretty strong feelings that the odds are greater than 50/50 that BTC prices will touch on and/or exceed $10k first, then that might be worth some kind of gentleman's bet, no?  Do you feel strongly enough to bet some kind of token amount?  Maybe something in the .001BTC territory?

if there's a bet with some timeframe i wanna do it as well if majormax feeling strong enough

[bileq]

MT Gox Fud affected market for a while, its stopping but with other issues market is still going down.

[afbitcoins]

You know, as a business, you can accept zero confirmation transactions from both BTC and BCash.

For BTC = just wait 10 seconds. Even a cup of coffee can wait 10 seconds. It's zero confirmation, but you can almost safely accept the transaction if there are no double spend attempts after 10 seconds.

For BCash = just wait about 10 seconds also. Maybe 20 if you want to make sure. After a confirmation, send it to an exchange and market sell.

For anything else that costs more than a cup of coffee, I'm sure you can wait 10 minutes for a block; and if the transaction hasn't confirmed yet, it should in a few.

Or use Dash Instant Send in which case you don't have to wait around for confirmations or limit yourself to trusting only small cup of coffee sized amounts.

Infofront. This conversation keeps coming up, you should let my comment stand. Or are you trying to keep it a secret that Dash has already solved this problem?

Dash is not bitcoin.

You seem to want to get into some kind of compare and contrast discussion of Dash.. .and to pump dash as if it is a kind of solution.

Sure if there is some kind of innovation that is worthy in Dash, then bitcoin absorb such innovation into itself.. but Dash is another beast that many argue to be very centralized in the way that nodes are compensated... In other words, why the fuck we need to pump dash in this thread, even if arguably it may have some kind of temporary solution (and likely a lot of other disadvantages too, but who  the fuck cares about DASH details because it is not topical, here?)


Edit:

[edited out]

Or ya know, all you guys could stop with this line of pointless conjecture and quit pretending that Lightning Network doesn't exist for Bitcoin?

Also, the coffee analogy really sucks. Nobody is buying coffees with their bitcoin. In fact, people are hardly spending their bitcoin at all. Merchant spending usage probably accounts for less than 0.001% of all daily trade volume if that even. If I missed that guestimate by another decimal or two I wouldn't even be shocked.

Oh Fuck... Torque beat me to it, seemingly with more accuracy and eloquence, too.  Fuck!

Edit 2:

You know, as a business, you can accept zero confirmation transactions from both BTC and BCash.

Or use Dash Instant Send in which case you don't have to wait around for confirmations or limit yourself to trusting only small cup of coffee sized amounts.

Infofront. This conversation keeps coming up, you should let my comment stand. Or are you trying to keep it a secret that Dash has already solved this problem?

Secret? I think we are all already aware that centralized databases can reach finality quicker than decentralized permissionless systems.

Admittedly, even Jbreher with his own eloquence, if you could call it that.  Fuck!

@JJG
Thanks for making this conglomerate of fud, you've earned a merit for your trouble.
But you know fine well bitcoin cannot morph to absorb other coins features, it can't even agree on blocksize change. But thats OK that is what bitcoin is good at, being very conservative. As for being on topic. The topic was double spends and 0-conf transactions. I was on that topic. Or from now on we all stick to price walls only?

@Torque
 Noone is pretending Lignting Network is ready for use yet. I'm trying to be open minded about offchain transactions but there are limitations with LN.

@Jbreher
I'm dissapointed in you spreading outright lies, obviously I have misjudged you. Dash is a distributed decentralised blockchain secured with proof of work. Just like bitcoin.  

[kurious]

@Jbreher
I'm dissapointed in you spreading outright lies, obviously I have misjudged you. Dash is a distributed decentralised blockchain secured with proof of work. Just like bitcoin.  

Er... 'masternodes' - just like Bitcoin?

Lol

[JayJuanGee]

By the end of July we shall see price above $10k.

Not going to happen.

Just as likely to see price at 2k.

Random move, 4k up or 4k down. No analysis.

Do you really have conviction about what you just posted?  Aren't you exaggerating, Majormax?  

Do you really believe that the odds of BTC's price going to $2k or $10k is the same?  

That means 50/50 odds, no?

Personally, I would give higher odds that BTC would reach and exceed $10k before touching $2k or going below that.   I have a decently strong perspective that BTC will NEVER see $2k again, but odds of reaching $10k are quite high, especially the longer the time frame, perhaps greater than 75%.  

If you really believe that the odds are 50/50, but I have pretty strong feelings that the odds are greater than 50/50 that BTC prices will touch on and/or exceed $10k first, then that might be worth some kind of gentleman's bet, no?  Do you feel strongly enough to bet some kind of token amount?  Maybe something in the .001BTC territory?

if there's a bet with some timeframe i wanna do it as well if majormax feeling strong enough

I personally think to keep the amounts of the bet low, but to attempt to make the terms clear, because there are surely some strong sentiments regarding the bear sentiment "inevitability", and bulls (such as you and me) seem to have fairly strong sentiments in the opposite direction, which should be fruitful for friendly bets.