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

[Paashaas]

When we attacked the Bitcoin LN we failed across the board except for the massive nodes that crashed however they were quickly fixed and running again. This was a win-win for Bitcoin LN; only time can tell how Bitcoin Cash will withstand the assault.

I'm convinced their "stress tests" caused my node to crash a couple times, and caused my pipe some grief a little while back.

Got some good debug logs out of it though, and the LN folks are very very fast to fix bugs/issues upon submitting them.

I think one of my crash reports was resolved and checked in within 8 hours of the report, once, for example.

Some really intelligent and highly-motivated people working on Lightning.

They released 3 Lightning implementations (Eclair, lnd and c-lightning) today with new features and improvements

https://blockstream.com/2018/06/25/c-lightning-06.html

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[LFC_Bitcoin]

3K is going to hodlers. It will be interesrsting to see their reaction (may be Dr. Gevorkian will solve the issue). HODL your anuses, gyes and ladies

Bitcoin for 10 cents in ten years. I'm sure everybode will be sure that it is worthless.. It is not a currency, it is nothing, just hype

Going to 3K) and staying there for nearly two years. Let it be!

In December bitcoin will be under $2000. For some years - 5-10.

What a mess this poster is

.10c in ten years 

gotta be a bot

Either that or starved of oxygen at birth.

[fabiorem]

The whole Tether issue is only an "issue" if they are created out of thin air.

Its not a issue if central banks do this all the time.

Since nobody complains about central banks printing money out of thin air, I think its fair to not complain about a private company printing tether out of thin air.

If you complain about tether printing, but dont complain about fiat printing, then you are an accomplice of the fiat system.

[jojo69]

So what is this, bankers coming onto a bitcoin forum to revel in the Bitcoin doom?

Too much time on your hands with people not opening enough accounts or something?


Or just waiting for your money to move from one place to another for days?

you guys been hearing those Wells Fargo "oh, we're so sorry" ads running lately?

They put goofy music under them like they aren't even taking it seriously themselves...it's like they are pointing and laughing at us.

[Icygreen]

Hey all, still lurking here. Missed a bunch of pages while focusing on business and life. Even had a couple days where I forgot to check BTC price. I'm considering another hodl position if price gets lower but not too fussed at the moment.

Remember that wire transfer I sent over 3 weeks ago. Well....Fuck.. still hasn't arrived.   I found a typo in the account number made by the teller and even after fixing that, a week later it still hasn't moved.
More time out of my day today to sort through this, probably having to reverse the transaction, pay to do so and wait for it to come back only to try again.
Totally BS dinosaur system.

I did ask if the recipient would accept BTC but didn't get a response on that.
I sure hope we get cross currency exchange platforms using bitcoin that sinks the swift system. I sure could use it today.  

[Elwar]

Hey all, still lurking here. Missed a bunch of pages while focusing on business and life. Even had a couple days where I forgot to check BTC price. I'm considering another hodl position if price gets lower but not too fussed at the moment.

Remember that wire transfer I sent over 3 weeks ago. Well....Fuck.. still hasn't arrived.   I found a typo in the account number made by the teller and even after fixing that, a week later it still hasn't moved.
More time out of my day today to sort through this, probably having to reverse the transaction, pay to do so and wait for it to come back only to try again.
Totally BS dinosaur system.

I did ask if the recipient would accept BTC but didn't get a response on that.
I sure hope we get cross currency exchange platforms using bitcoin that sinks the swift system. I sure could use it today.  

That totally sucks. Banks and governments are not only inefficient, they are incompetent.

I was in Thailand, sent a package to French Polynesia (through the government post office). Checked the tracking number and the package arrived...in Paris (hint: Paris is not in French Polynesia).

I wish that whenever dealing with those institutions I could just manually do every step for them.

[mymenace]

Gavin Andresen - Bcash king

How many rolls did it take to make your hat?  

What the hell, I'll play along. What are the actions -- or even utterances -- made by Gavin Andresen that lead you to labeling him as "Bcash king"?

https://news.bitcoin.com/gavin-andresen-drops-a-new-concept-on-github-for-bitcoin-cash/

https://twitter.com/gavinandresen/status/929377620000681984?lang=en

Bitcoin Cash is what I started working on in 2010: a store of value AND means of exchange.

[jbreher]

So some of y'all might recall a post of mine a while back.

Essentially, I had a discussion back in September with my employer about my eventual retirement. We decided that end of 2018q2 would work for all involved.

Now that I'm in my last week as a wage earner, it's starting to feel pretty surreal.

kampai!

[jbreher]

Gavin Andresen - Bcash king

How many rolls did it take to make your hat?  

What the hell, I'll play along. What are the actions -- or even utterances -- made by Gavin Andresen that lead you to labeling him as "Bcash king"?

https://news.bitcoin.com/gavin-andresen-drops-a-new-concept-on-github-for-bitcoin-cash/

https://twitter.com/gavinandresen/status/929377620000681984?lang=en

Bitcoin Cash is what I started working on in 2010: a store of value AND means of exchange.

Umm hmm.... umm hmmm. So one posted idea and one public statement is all it takes to become king. Got it.

Perhaps your hat needs yet another roll of tinfoil.

[xhomerx10]

So some of y'all might recall a post of mine a while back.

Essentially, I had a discussion back in September with my employer about my eventual retirement. We decided that end of 2018q2 would work for all involved.

Now that I'm in my last week as a wage earner, it's starting to feel pretty surreal.

kampai!

 Time to enjoy the fruits of your labour.  Congratulations!

[mymenace]

Gavin Andresen - Bcash king

How many rolls did it take to make your hat?  

What the hell, I'll play along. What are the actions -- or even utterances -- made by Gavin Andresen that lead you to labeling him as "Bcash king"?

https://news.bitcoin.com/gavin-andresen-drops-a-new-concept-on-github-for-bitcoin-cash/

https://twitter.com/gavinandresen/status/929377620000681984?lang=en

Bitcoin Cash is what I started working on in 2010: a store of value AND means of exchange.

Umm hmm.... umm hmmm. So one posted idea and one public statement is all it takes to become king. Got it.

Perhaps your hat needs yet another roll of tinfoil.

I am not the one on the defensive here
Why are you so irate about BCash being developed by Gavin


Most people who call other people conspiracy theorists, are the ones actually hiding something

[realr0ach]

The whole Tether issue is only an "issue" if they are created out of thin air.

I used to think that way too.

What if...

they are using these tethers to feed short contracts?

For anyone that's completely clueless in this thread, having actively traded on Bitfinex for a decent duration of time in the past, I can say for 100% fact that a single entity controls the bitcoin price using that exchange since bitcoin was $200 and this entity longs and shorts, but spends most of it's time trying to raise the price.  They try to crater the price to accumulate, then raise it.  It's a classic pump and dump.  

From observing this entity, I'm also postive the Bitfinex exchange owners are in on this operation.  It's either the exchange owners themselves doing it, the Chinese mining cartel, or some giant TBTF bank like Goldman Sachs.  The main reason I throw the TBTF banks in there is because this entity seems to be completely above the law while a normal person would already be in jail for the stuff Bitfinex has done.  Then there was also supposedly $400 million in drug money seized in Poland that was affiliated with Bitfinex and not a damn thing happened to them.  Kind of reminds you of HSBC being caught laundering $800+ million in drug money.

[Elwar]

So some of y'all might recall a post of mine a while back.

Essentially, I had a discussion back in September with my employer about my eventual retirement. We decided that end of 2018q2 would work for all involved.

Now that I'm in my last week as a wage earner, it's starting to feel pretty surreal.

kampai!

Welcome to retirement.

[realr0ach]

Banks and governments are not only inefficient, they are incompetent.

Did Elwar mention HE IS the government?

[JayJuanGee]

[ I don't think it will get that low myself, but can certainly see $2k-2.5k being very possible. The number of traders, hopers and buyers on the way down will limit the pace of the decline, so plenty of time to get out now, and plenty of time to get back in. I wouldn't wait for $2k, because that might be very brief, but buying back at $3k gives some opportunity for profit on a 1-2 year view.

Personally, I'm not brave enough to short it, because nothing is certain.]


I agree with what you are writing here, except for your seeming attempt to get peeps to sell now (persuade? or protect?  of course, you would assert that you are attempting to "protect" poor little naive BTC HODLers) and asserting that there is "plenty of time to get back in."

Well, yes I suppose that might be right: not quite sure what you are looking for there.

O.k.  Perhaps, I am quibbling with you a bit stronger than necessary, but to me, it seems a major problem to frame matters as if $4k or $3k or $2k is inevitable, when you are most likely giving it as the most likely of the possible events.  Maybe we divide all the possible events up based on knowable factors, and you come with 20% as the highest of the probabilities, which is showing $2.5k.. and when you talk about it, it comes off as if you are saying it is inevitable.

So, quibble I must, and this is a didactic process, anyhow, since neither of us claims to really know, and we are just going back and forth regarding scenarios that we believe to be more or less likely.

Protecting people from their own folly is a fools errand. 

I could be mistaken, but I recall in a previous post that you said something about having a mission to inform people about a more bearish scenario that is not being presented, and therefore, I concluded that you had a kind of mission to protect people from themselves... 

Actually, I participate so much in this forum in order to sort out my own ideas, and sometimes it helps to type them out and to get challenged on them.  Incidentally, each of us are likely to learn from such an interactive process, as long as we are interacting rather than just spouting out our own views... even if also, sometimes, there may be times in which the comments from others will cause us to become more rigid in our own views.

Using a bit of introspection, I guess what I mean to say is :

' OK, I think it is probably going to 3k or less... You can sell if you like,

Even if the price has decent odds of going to $3k, it remains an unsound practice to sell now for the reasons that you mention below, but also anyone who sells now, needs to be really kicking themselves in the ass and considering that they fucked up in failing/refusing to sell at earlier times.  Furthermore, if anyone considers selling now, it would be wise to consider proportionality.  So if such hypothetical person would have been in the practice of selling 100%, then instead selling 50% or some smaller proportion based on a few considerations, including the consideration that the whole situation is a fuck up and they may lose a lot of money by selling now rather than merely holding and/or figuring out ways to buy more if the price were to go down more.

but I am not going to, because

1.  Bull trend will probably resume in 2 years or less.

2.  Having got out it is harder to get back in.

3.  The profit of getting it right is too low compared with the high cost of getting it wrong. '

Yes, these are all sound reasons, and I would presume that you sold some decent amount already (or refrained from buying) at higher prices.  Actually, Majormax are you considering buying any BTC at any of the low BTC price points that you contemplate as being decently likely?  $4k?  $3k?  $2k or some other price point(s).. or are you playing it by ear?  Surely, you have already asserted that strong indications of bottom or conclusions of buying opportunities would be increased depending on HOW any additional price drop were to occur... for example, if it were to happen quickly and with high volume in the near term future, or if what you perceive to be a more likely scenario or drawn out downward movement pains over the coming year or two.

[JayJuanGee]

^ What is that arbitrary yellow line on the bottom.

This correction will not be like 2013 or 2014. Why? Because it's 2018. The rise was different, the correction will be different too. Its easy to try to trace and outline the future using the past, but its just an exercise for fun. Its relatively useless.

My best guess is this correction will be a somewhere in the middle of the two based on severity (%) dip, but will last longer than both. But even if my best guess is wrong, I will be right about one thing - this correction will be its own animal.

Good logic.  Feels about right to me.

The bad news is the length of time of the correction : The good news is that most of the price fall from ATH has already happened. If we holdled in a 13k price fall, then another ~3k is easy,  no ?

( or 2k or 4k , meh)

To me, maybe 3k is excessive but 2k can definitely happen.

I think we still have a couple of months of sustained dips.

Faulty logic to be considering the "ease" of these kinds of BTC price falls in dollar terms rather than in percentage terms. 

Accordingly, currently $2k is much more difficult to achieve, as compared to when BTC prices were in the $14k to $19k range... and even more so difficult to achieve a $2k and especially $4k drop when the price has already fallen 70% from its top.  I am not saying that such drop cannot or will not happen, but such a drop is far from a "given" or "easy."  Gonna take a lot of bear whale coins or spreading of FUD in order to scare normies out of coins to achieve such additional BTC price drop objectives.

[realr0ach]

Since nobody complains about central banks printing money out of thin air, I think its fair to not complain about a private company printing tether out of thin air.

Completely buttfucking stupid comment.  

Capitalism does not exist if you have a central bank because the bank can do stuff like raise or lower interest rates while taking out enormous positions frontrunning it's own market manipulation.  Since it can front run it's own manipulation, it can basically siphon off all wealth from the entire system so everyone is their slave.  Bitfinex printing tethers from thin air, trading with the entire pool of customer funds, or placing enormous fractional reserve longs and shorts on their own exchange is the same thing as having a central bank.

[Torque]

you guys been hearing those Wells Fargo "oh, we're so sorry" ads running lately?

They put goofy music under them like they aren't even taking it seriously themselves...it's like they are pointing and laughing at us.

https://www.youtube.com/watch?v=1rrivHxCeeY

I especially like the line "When the country went West for Gold, we were the ones to bring it back East."

Yeah, y'mean back when you guys actually transacted with sound money instead of fiat garbage? Lol

Also notice how comments are disabled on that commercial video. People would have a fkn heyday in the comments section for sure. 

[realr0ach]

Anyone find it strange the Tron group photo looks more like the choir for the Chinese communist party?

https://news.bitcoin.com/pr-tron-celebrates-its-independence-from-ethereum/



I mean, I can understand not a single black employee because maybe they don't know how to use computers or something, but not a single white person or Indian tech support guy, nothing.  Then to make things worse, they steal the r0ach forum hashtag, replace the word silver with TRON, and put it on a fake silver coin:



Fuck you!  In Tron we don't trust.  In physical silver we trust.

[HI-TEC99]

Remember that wire transfer I sent over 3 weeks ago. Well....Fuck.. still hasn't arrived.   I found a typo in the account number made by the teller and even after fixing that, a week later it still hasn't moved.
More time out of my day today to sort through this, probably having to reverse the transaction, pay to do so and wait for it to come back only to try again.
Totally BS dinosaur system.
  

Dinosaur system indeed.

Most banks are still using antiquated computers from the 60s and 70s. Although they hook them up to modern computers the central core of most bank's systems consists of obsolete hardware.

Satoshi was spot on when he pointed out Bitcoin transactions are faster and safer than wire transfers.