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

[fotosonics]

You could very well be right.  However, if r/bitcoin jumps on another hot rumor it could just as easily, perhaps more easily, go down.

One thing I have noticed in the media storm is that there are agendas flying around everywhere.

Example: the pairing of bitcoin with Libertarianism. Infusing bitcoin with this external, incidental aspect can isolate (insulate) a lot of people from bitcoin.

Another agenda: defend the gold standard.

And another: defend the current monetary system and all those who stand to gain from a demise of bitcoin.

Basically bitcoin has pissed off a lot of people, let alone the Chinese Communist Party, political power in India, and elsewhere. Singapore is ok as long as they can tax it. Again, allegiance to fiat.

I wish people could simply see the benefits that bitcoin has to offer them and not react out of fear.

So, I take all the hating on bitcoin with a grain of salt.

[optimi]

This all from a 30-day chart. So I'd say we have about a day or two more max before we move up with any significance -- and break out the choo choo memes -- again.

I've got 3 computers generating CHOO CHOO memes 24/7. You thinks that's enough? 

Wow, 3 computers. You still haven't figured out that the amount of computers means nothing?

If you wanna be taken seriously speak in kilomemes / second like everybody else, please.

[spooderman]

Everyone ready for the weekend rally??

This all from a 30-day chart. So I'd say we have about a day or two more max before we move up with any significance -- and break out the choo choo memes -- again.

I've got 3 computers generating CHOO CHOO memes 24/7. You thinks that's enough? 

That is ok but are they sha256 or scrypt?

[T.Stuart]

Everyone ready for the weekend rally??

Oh Yeah!!! 

[mmitech]

You could very well be right.  However, if r/bitcoin jumps on another hot rumor it could just as easily, perhaps more easily, go down.

One thing I have noticed in the media storm is that there are agendas flying around everywhere.

Example: the pairing of bitcoin with Libertarianism. Infusing bitcoin with this external, incidental aspect can isolate (insulate) a lot of people from bitcoin.

Another agenda: defend the gold standard.

And another: defend the current monetary system and all those who stand to gain from a demise of bitcoin.

Basically bitcoin has pissed off a lot of people, let alone the Chinese Communist Party, political power in India, and elsewhere. Singapore is ok as long as they can tax it. Again, allegiance to fiat.

I wish people could simply see the benefits that bitcoin has to offer them and not react out of fear.

So, I take all the hating on bitcoin with a grain of salt.

it has been always like that, they laugh at you, then they start taking you seriously, then they fight you, then you win, and we are between the 2-3rd stage, now they take us seriously and they started fighting us but we will win this year

[spooderman]

Based on my technical analysis that spans 5 days in length, we are CERTAIN to have a rally this weekend as per all previous weekend.

[keewee]

time to test support levels is it ?

yes

and

i'm ready, i was born ready!

What is your target @ stamp adam ?

i start buying at 700, i go ape shit at 650

Thats it? You think we have resistance at 700 to 650?

I was thinking closer to 550.

I wish you luck sir.  Don't miss the train.

For what little I am able to buy at the moment, I would rather take the risk.

I think the suggestion regarding dollar cost averaging is a good one. I got mine in a similar way. Each month I bought a fixed quantity at what I considered a reasonable price. Usually it was at the beginning of the month but sometimes I would delay my purchase if the price seemed to be trending down. Occasionally I got caught out and bought higher but I still accumulated some each month. Alternatively you could spend half your fiat (or 25% or some other percentage you feel comfortable with) when you see a reasonable dip to get your foot back in the door and with the remainder you could place other bids all the way down to 550. Then you will still make some gains if the trend rises and will have fiat handy to go back all in if circumstances look really good

[OldGeek]

As to the other bearish sentiment why so afraid? we're up $30 bucks since last Friday.. a reasonable gain probably would've been higher had we not over shot so hard last weekend.

Not afraid at all.  I'm uncertain of the short term direction, so 50-50.  

One must consider the effect that the FUD merchants can have on the newly initiated members of the 'trade bitcoins' population.

FUD defined:
1.  Fear, Uncertainity, Doubt.
2.  F'd Up Data
Your choice.

The fundamentals all point to long term increases.  My cold storage wallet believes that to be true.  My trading account is a different story.

[fotosonics]

You could very well be right.  However, if r/bitcoin jumps on another hot rumor it could just as easily, perhaps more easily, go down.

One thing I have noticed in the media storm is that there are agendas flying around everywhere.

Example: the pairing of bitcoin with Libertarianism. Infusing bitcoin with this external, incidental aspect can isolate (insulate) a lot of people from bitcoin.

Another agenda: defend the gold standard.

And another: defend the current monetary system and all those who stand to gain from a demise of bitcoin.

Basically bitcoin has pissed off a lot of people, let alone the Chinese Communist Party, political power in India, and elsewhere. Singapore is ok as long as they can tax it. Again, allegiance to fiat.

I wish people could simply see the benefits that bitcoin has to offer them and not react out of fear.

So, I take all the hating on bitcoin with a grain of salt.

Well said.

Thank you!

Re-posted on reddit http://www.reddit.com/r/Bitcoin/comments/1uvain/hating_on_bitcoin/

Meanwhile... hodl advisory in effect.

[Erdogan]

Enjoy your deflating currency.

What happened, did you lose some coins?

[ChartBuddy]

Explanation

[Davyd05]

As to the other bearish sentiment why so afraid? we're up $30 bucks since last Friday.. a reasonable gain probably would've been higher had we not over shot so hard last weekend.

Not afraid at all.  I'm uncertain of the short term direction, so 50-50.  

One must consider the effect that the FUD merchants can have on the newly initiated members of the 'trade bitcoins' population.

FUD defined:
1.  Fear, Uncertainity, Doubt.
2.  F'd Up Data
Your choice.

The fundamentals all point to long term increases.  My cold storage wallet believes that to be true.  My trading account is a different story.

well, where I trade I had to have sold near 999-954 to make anything worth the risk of trading ...I watch the 295 coin wall go buy in a single woosh and said shucks should've been greedy but I still don't even see reason to  remain bearish on the short term direction.

I think today's sell offs align with the panic of 51% attack news, overstock type news will take a couple days to set in as it hit on Thursday.

[OldGeek]

Perhaps I'm too conservative in my trading account.  ::shrug::

edit:  time out.  -e is on the move.

[Davyd05]

Perhaps I'm too conservative in my trading account.  ::shrug::

edit:  time out.  -e is on the move.

probably not.. high fees on my exchange.. doesn't allow for good swing trading

[Jren]

This all from a 30-day chart. So I'd say we have about a day or two more max before we move up with any significance -- and break out the choo choo memes -- again.

I've got 3 computers generating CHOO CHOO memes 24/7. You thinks that's enough? 

Wow, 3 computers. You still haven't figured out that the amount of computers means nothing?

If you wanna be taken seriously speak in kilomemes / second like everybody else, please.

I've surpassed kilomemes the amount of memes i generate cannot be named by any number.

[mmitech]

Based on my technical analysis that spans 5 days in length, we are CERTAIN to have a rally this weekend as per all previous weekend.

another internet engineer

[T.Stuart]

This all from a 30-day chart. So I'd say we have about a day or two more max before we move up with any significance -- and break out the choo choo memes -- again.

I've got 3 computers generating CHOO CHOO memes 24/7. You thinks that's enough? 

Wow, 3 computers. You still haven't figured out that the amount of computers means nothing?

If you wanna be taken seriously speak in kilomemes / second like everybody else, please.

I've surpassed kilomemes the amount of memes i generate cannot be named by any number.

Please don't pool too much power in one space - that could heighten the risk of a 51% attack on the meme community! 

[OldGeek]

Perhaps I'm too conservative in my trading account.  ::shrug::

edit:  time out.  -e is on the move.

probably not.. high fees on my exchange.. doesn't allow for good swing trading

You might want to give BTC-e a try.  The fee structure is decent and they haven't had a lag longer than ~20 seconds since I switched in early Dec. unlike MtSux.

My suggestion is to open an account and transfer BTC, not fiat.  Trading from the web page gets tiresome because of the need to refresh often, but I've found that the QtBitcoin Trader works extremely well.

Depending on your circumstances, you may want to try it out with fractional coins.  Also, I don't leave substantial amounts on the exchange.  As with your initial deposit, withdraw in BTC.  Keep the volumes of transfers on the smallish side and you have no worries.

Caveat:  Your mileage may vary and batteries are not included.

[ChartBuddy]

Explanation

[Jren]

This all from a 30-day chart. So I'd say we have about a day or two more max before we move up with any significance -- and break out the choo choo memes -- again.

I've got 3 computers generating CHOO CHOO memes 24/7. You thinks that's enough? 

Wow, 3 computers. You still haven't figured out that the amount of computers means nothing?

If you wanna be taken seriously speak in kilomemes / second like everybody else, please.

I've surpassed kilomemes the amount of memes i generate cannot be named by any number.

Please don't pool too much power in one space - that could heighten the risk of a 51% attack on the meme community! 

"too much power"
https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcTYn18gFCQMhLEC4oEx89nDFtYz8h5g60QDT47WgnJofn0NYOmqMw

This is not even my final form