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Question: Closing BTC Price June 17:
$0 - 2 (1.8%)
<$6,500 - 7 (6.1%)
$6,500-$6,750 - 1 (0.9%)
$6,751-$7,000 - 2 (1.8%)
$7,001-$7,250 - 3 (2.6%)
$7,251-$7,500 - 6 (5.3%)
$7,501-$7,750 - 4 (3.5%)
$7,751-$8,000 - 12 (10.5%)
$8,001-$8,250 - 13 (11.4%)
$8,251-$8,500 - 6 (5.3%)
$8,501-$8,750 - 6 (5.3%)
$8,751-$9,000 - 11 (9.6%)
$9,001,$9,250 - 10 (8.8%)
$9,251-$9,500 - 9 (7.9%)
>$9,500 - 15 (13.2%)
$20,000 - 7 (6.1%)
Total Voters: 114

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21222475 times)
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billyjoeallen
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July 13, 2018, 06:51:09 AM



In spite of your ongoing naysaying, Bitcoin remains the cypto that is providing the most value and security to the space on an ongoing basis, and other coins projects, to the extent that they are profitable at all relative to bitcoin, are for the most part profitable only because bitcoin maintains a kind of core security and considerably more decentralization than any other project that is merely creating the appearance of decentralization (to the extent that they are able and want to spout out decentralization talking points).  So get the fuck out of here with proclamations that some other coin is better, and that bitcoin is some kind of old generation, because hardly no one in this thread is going to believe that kind of bullshit.



Sure, at 43% market dominance according to CoinmarketCap. Down from what? over 90%?  In the 1970,s America was the largest car manufacturing country in the world. in the 1990s, Yahoo dominated search.  Do you wanna be in Yahoo or in Google? I'm not downplaying Bitcoin's historical significance and I firmly believe Satoshi Nakamoto will go down in history as the most important inventor since Tim Berners-Lee or maybe even Gutenberg, but there's lots of stores of value (precious metals, real estate) and relatively few except fiat and credit that are used as a medium of exchange, which is where we can change the world.

The reason I am here is because I am trying to figure out how to determine market share when all we have is transaction volume and Market cap to go on. Transaction volume means nothing when TXs are almost free as with most coins. Market Cap is just last trading price multiplied by number of coins in circulation. It has little to do with which crypto is actually being used. Am I missing some other relevant metric?

On public blockchains, it should be relatively simple to calculate dollar value of transactions/block, but nobody is doing that to my knowledge. I wonder why?

These whales pushing the market around-what are they thinking? How do they determine value or is is all just Greater Fool Theory order flows?
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micgoossens
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July 13, 2018, 06:54:22 AM

I really should consider trading BTC.

I can usually see the indicators of a jump. ie someone with a huge sell wall trying to push prices down before pumping them, high rated individuals on localbitcoins trying to buy very large amounts of bitcoins, etc.

It's just too stressful though. I'd rather just buy and hodl.

let us Just #btfd and hodl !!
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July 13, 2018, 07:27:05 AM

In spite of your ongoing naysaying, Bitcoin remains the cypto that is providing the most value and security to the space on an ongoing basis, and other coins projects, to the extent that they are profitable at all relative to bitcoin, are for the most part profitable only because bitcoin maintains a kind of core security and considerably more decentralization than any other project that is merely creating the appearance of decentralization (to the extent that they are able and want to spout out decentralization talking points).  So get the fuck out of here with proclamations that some other coin is better, and that bitcoin is some kind of old generation, because hardly no one in this thread is going to believe that kind of bullshit.

Sure, at 43% market dominance according to CoinmarketCap. Down from what? over 90%?  In the 1970,s America was the largest car manufacturing country in the world. in the 1990s, Yahoo dominated search.  Do you wanna be in Yahoo or in Google?

Hasn't this talking point been beaten to death, but still you want to argue some stupid ass simple point in order to make inapplicable analogies? 

Of course bitcoin's "dominance" is going to go down on that page for a variety of reasons, including 1) the proliferation of coins, 2) the disguising of actual supply of coins for many other projects (to pump up their market cap placement), 3) the fact that bitcoin is and has been open source that allows other coins to duplicate, fork or some other ways take from it to build their own pump and dump bullshit, 4) bitcoin is not a company so get out of here with the bullshit false comparisons, and 5) likely other reasons that I am disinclined to ponder over at this time, but willing to add to the list if I think about them as being important, later.


I'm not downplaying Bitcoin's historical significance

You are downplaying it, and it kind of seems as if you don't understand what the fuck is bitcoin, especially if you are trying to analogize it too much to some kind of centralized project.


and I firmly believe Satoshi Nakamoto will go down in history as the most important inventor since Tim Berners-Lee or maybe even Gutenberg,

Who gives a shit about Satoshi Nakamoto... ?  Yeah, of course, he started the project and set it upon its way, but he completely removed himself from the space in 2010, and thereafter bitcoin became a product and ownership of a decentralized community rather than only the initial vision of one man or entity, named Satoshi Nakamoto.

At least you seem to recognize that bitcoin is an important invention, but your trying to define it to one man or entity seems a bit distracting regarding its actual importance - as can be seen from your subsequent response and your other posts that attempt to equate bitcoin with other crypto projects and to draw other false analogies.

but there's lots of stores of value (precious metals, real estate)

Get the fuck out of here.  Store of value is just one multitude of use cases of bitcoin, and the evolving nature of bitcoin shows that it is still proving the utility of its unique form of storage of value that is partly based on continued development, the product of its other various use cases that can be seen through present value and future value, and just the mere fact that it solved the byzantine general's (double spend) problem and no other coin occupies that space because the limited supply remains in bitcoin based on its continued decentralization and based on the continued fact that networking effects continue to build upon bitcoin, and not distraction other coins that attempt to copy and/or attack it.


and relatively few except fiat and credit that are used as a medium of exchange, which is where we can change the world.

Get the fuck out of here with your bcash talking point.  Of course, even though spending can be important, it does not remain a central high priority goal because bitcoin continues to be adopted, and remains a sound money in which you may well not want to spend it under Gresham's law regarding a desire to spend less valuable money first and since bitcoin is more valuable based on other reasons, there may not necessarily be a high demand to spend it right away.. even though lightning network does seem to be providing a very powerful tool for spending for those who are going to want to use bitcoin in that kind of spending direction.. as it continues to be developed tested and evolved.

The reason I am here is because I am trying to figure out how to determine market share when all we have is transaction volume and Market cap to go on.

I guess you sound like a bit of a lost puppy, if you are continuing to try to boil bitcoin down to those old talking points of yours.


Transaction volume means nothing when TXs are almost free as with most coins.

O.k.?   What is your point?  We are talking about a moving target?  a year ago you were complaining about high fees and low transaction times and now you are complaining that bitcoin fees are too low?  Can you make a meaningful point besides just trying to grasp at something out of the air?


Market Cap is just last trading price multiplied by number of coins in circulation. It has little to do with which crypto is actually being used. Am I missing some other relevant metric?

I already discussed some aspects of market cap being insufficient, but you also have varying network effects (seven) that are presented pretty well by folks like trace mayor, but perhaps those more meaningful indicators are a bit too abstract a concept for you to make your superficial nonsense points?


On public blockchains, it should be relatively simple to calculate dollar value of transactions/block, but nobody is doing that to my knowledge. I wonder why?

Because you are making shit up and trying to act like there is some kind of conspiracy or hidden flaw, when there is not.  If you can sound convincing enough in your bringing up bullshit, then you might be able to inspire some FUD spreading.. which seems to be your main goal in returning here.  Someone paying you, or you just feel inspired based on your own good will towards the bitcoin community?

Also, didn't you say that you were going to sell all your coins, and we would not have to deal with you any more? If you sold all your coins, then go fuck off somewhere and find some better place to put your fiat and your time, right?  Dash, isn't it?


These whales pushing the market around-what are they thinking? How do they determine value or is is all just Greater Fool Theory order flows?

More old talking points?  You want to say that bitcoin is manipulated by a small sector of folks and that it is a ponzi scheme ... O.k.. ok.  we have heard that bullshit before.  There is no there, there.


Sure bitcoin is likely to be manipulated in various ways because it's total size remains small, but it becomes harder and harder to manipulate it as it grown in the number of users and the number of exchanges and the number of ways to liquidate your bitcoins... which if you had any clue, you would appreciate these liquidation means and mechanisms to be growing in bitcoin , even though you would like to imply the opposite, just to spread bullshit and lies.  So, just like before (in 2015), we have ebbs and flows and it may appear that the bitcoin community is getting smaller and smaller, when in fact, if you really look at the matter there is more and more demand on its limited supply, a projection of continued limited supply and more and more behind the scenes and secret accumulation of BTC positions that continue to put on BTC price pressures and all of a sudden cause upward price spurts.. .. and hopefully for yourself you have some bitcoins when this happens - instead of acting like it is not valuable to accumulate bitcoin.... get the fuck out of here with your distractions. Roll Eyes
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July 13, 2018, 07:54:19 AM


Wow that was a lot  Grin Grin Grin


@billyjoeallen
..sh*t IMHO is going to hit the fan..

I loved Bitcoin, but it's MySpace. I'm looking for the FaceBook of crypto. Bitcoin was pioneering, but a pioneer is a guy lying face down in a pool of his own blood with arrows in his back.  it's something to learn from.  

Am I missing some other relevant metric?

How do they determine value





There we go the short version

1) Yes shit always hits the fan with bitcoin
2) bitcoin blockchain cannot be duplicate holds evidence
3) Metric is Buy the Dip!
4) Value is what you are willing to pay

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July 13, 2018, 08:10:13 AM
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Wow that was a lot  Grin Grin Grin


@billyjoeallen
..sh*t IMHO is going to hit the fan..

I loved Bitcoin, but it's MySpace. I'm looking for the FaceBook of crypto. Bitcoin was pioneering, but a pioneer is a guy lying face down in a pool of his own blood with arrows in his back.  it's something to learn from.  

Am I missing some other relevant metric?

How do they determine value





There we go the short version

1) Yes shit always hits the fan with bitcoin
2) bitcoin blockchain cannot be duplicate holds evidence
3) Metric is Buy the Dip!
4) Value is what you are willing to pay



What if Bitcoin is Amazon? Not impressive at first glance, but it capitalizes it's first mover advantage.
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July 13, 2018, 08:16:20 AM
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All you kids wanting to get in on the ground floor of something big.  Its not too late.  You have about a year to build your Bitcoin holdings.  Chasing shitcoin pumps is going to get you nowhere. 
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July 13, 2018, 08:30:00 AM
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All you kids wanting to get in on the ground floor of something big.  Its not too late.  You have about a year to build your Bitcoin holdings.  Chasing shitcoin pumps is going to get you nowhere. 

Pater dimitte illis non enim sciunt quid faciunt. Wink
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July 13, 2018, 08:40:36 AM

On public blockchains, it should be relatively simple to calculate dollar value of transactions/block, but nobody is doing that to my knowledge. I wonder why?

A decent estimate:

https://www.blockchain.com/charts/estimated-transaction-volume-usd
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July 13, 2018, 08:43:24 AM

All you kids wanting to get in on the ground floor of something big.  Its not too late.  You have about a year to build your Bitcoin holdings.  Chasing shitcoin pumps is going to get you nowhere. 

Pater dimitte illis non enim sciunt quid faciunt. Wink

Ha!  Merited.
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July 13, 2018, 08:55:38 AM

Nice one but this isn't my first rodeo.  Where will you be when the train leaves the station in 2019?
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July 13, 2018, 09:06:34 AM
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Nice one but this isn't my first rodeo.  Where will you be when the train leaves the station in 2019?

I’m locked & loaded, have been since 2014. All I’ve spent/sold is the free bitcoin I got from transferring BCH into bitcoin & signature campaign money.

After the next halving I believe this shit goes parabolic.
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July 13, 2018, 09:07:58 AM

I really should consider trading BTC.

I can usually see the indicators of a jump. ie someone with a huge sell wall trying to push prices down before pumping them, high rated individuals on localbitcoins trying to buy very large amounts of bitcoins, etc.

It's just too stressful though. I'd rather just buy and hodl.

Amen to that
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July 13, 2018, 09:24:04 AM


But I do like when noobs lose money! Cheesy Cheesy

They should lose more!!! Smiley
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July 13, 2018, 09:38:05 AM

Nice one but this isn't my first rodeo.  Where will you be when the train leaves the station in 2019?

I hope it does leave then, but the last peak-to-peak was four years. 

Either way, I think I am already booked in for first class. See you there?

I'll be the guy smiling, drinking vintage champagne and reading glossy magazines featuring private islands for sale.
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July 13, 2018, 10:37:47 AM

I can usually see the indicators of a jump. ie someone with a huge sell wall trying to push prices down before pumping them, high rated individuals on localbitcoins trying to buy very large amounts of bitcoins, etc.
I don't follow localbitcoins.  Would you say that there are currently more of these people buying or not?
And how can you check this out?
BobLawblaw
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July 13, 2018, 10:45:48 AM

Caution: Mempool trending to break yesterdays high.

Buckle up. Shitfuckery is afoot.
Last of the V8s
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July 13, 2018, 11:03:54 AM
Last edit: July 13, 2018, 11:22:41 AM by Last of the V8s

Caution: Mempool trending to break yesterdays high.

Buckle up. Shitfuckery is afoot.
https://core.jochen-hoenicke.de/queue/#6m


*giants consolidating ↓
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yes


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July 13, 2018, 11:06:21 AM

What is the significance of the mempool rising:
*people obtaining more Bitcoin (exchanges, locabitcoins)
*people bringing Bitcoin to exchanges to dump
*other things not mentioned
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July 13, 2018, 11:20:10 AM
Last edit: July 13, 2018, 11:39:27 AM by vroom

weekly mempool graph, unconfirmed transactions. does this really look significant?




edit: what's going on, this thread is leaking messages! WO page count parity is coming when we keep leaking that fast! Smiley
Last of the V8s
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July 13, 2018, 11:26:56 AM

oh hey they nuked shelby yet again Angry Sad , but not Shocked
i've a couple of archives of his recent oeuvre, but nothing substantial. did anyone get it all down? pm ok
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