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

[windjc]

This news had nothing to do with the drop.

So why this drop 

More people wanted to sell than buy at those prices.

[vroom]

This news had nothing to do with the drop.

So why this drop  

More people wanted to sell than buy at those prices.

"more people" is a wrong definition. A single whale can move the price.

[Cassius]

This news had nothing to do with the drop.

So why this drop  

More people wanted to sell than buy at those prices.

"more people" is a wrong definition. A single whale can move the price.

That massive stash of Silk Road-linked coins moving to Finex/Binance might have had something to do with it.

[Yaplatu]

This news had nothing to do with the drop.

So why this drop  

More people wanted to sell than buy at those prices.

"more people" is a wrong definition. A single whale can move the price.

That massive stash of Silk Road-linked coins moving to Finex/Binance might have had something to do with it.

~110 000 BTC which influences a market of ~17 250 000 BTC ? Mhhh not sure ...  

[Syke]

~110 000 BTC which influences a market of ~17 250 000 BTC ? Mhhh not sure ...  

Which is why "market cap" is a meaningless statistic. There is no "market" of 17M BTC.

[LoyceV]

~110 000 BTC which influences a market of ~17 250 000 BTC ? Mhhh not sure ...  

Try selling 1% of any stock, see what happens!

[HairyMaclairy]

[Cassius]

~110 000 BTC which influences a market of ~17 250 000 BTC ? Mhhh not sure ...  

Try selling 1% of any stock, see what happens!

Especially a thinly-traded one. Finex's 24h volume is 73k BTC. Weekly vol 572k BTC. Dump a few k into that in the space of minutes, which is what happened earlier this week, and I think you'll see the influence it has.

[d_eddie]

This news had nothing to do with the drop.

So why this drop  

More people wanted to sell than buy at those prices.

"more people" is a wrong definition. A single whale can move the price.

That massive stash of Silk Road-linked coins moving to Finex/Binance might have had something to do with it.

~110 000 BTC which influences a market of ~17 250 000 BTC ? Mhhh not sure ...  

Totally superfluous, but I'm going to +1 the answers given by Syke, LoyceV and Cassius.

[bitcoinPsycho]

Just checked the price before bed, at least we moving up albeit slowly but at least fucking up.

Only to build more liquidity on the buy side for the next dump.

haven't we had enough dump, for now?  Seems like it.

C'mon, you know deep down that we are headed for another year of consolidation. For the record I am fine with the price going either direction, since my cost average is still zero (I have gained more dollars than my investment and still have coins left).

And thats why I love bitcoin  it just keeps giving. cost avarage £0 per coin is what it's all about

[El duderino_]

via Imgflip Meme Generator

[Heater]

Despite being a New Zealander, I like this guy.

Craig as useful idiot? Sounds about right.

https://www.youtube.com/watch?v=_OPCVeo1u20


(edit - around the 44 min mark)

[crypmike]

On this market, when nobody googles bitcoin and blockchain, for sure there are no users
I think they will appear when the new market bull phase will start

And on his picture XMR has 25k users, not bad

Oh, I've found this tweet and a source of the stats — https://onchainfx.com/
The list looks slightly different now

Top-13 looks quite healthy

[vapourminer]

For the record I am fine with the price going either direction,
[...]
 since my cost average is still zero (I have gained more dollars than my investment and still have coins left).

I am pretty sure that I understand what you are saying here, which is that you have already pretty much pulled out all of the amount of your principle (the amount that you invested); however, with such a great investment like bitcoin, to me, it does come off as a bit lazy for anyone who presumes to be knowledgeable about bitcoin to be just floating around in the space with assertions of "zero costs" when the BTC price has gone from $250 to $19,666 and back down to a bit below $5,800 (so far).  Accordingly, there seems to be a lot of potential (and activism potential) there that is being glossed over, if you are merely asserting "zero costs" without attempting to get into either more specific measures of your investment situation or creating a more active (and perhaps aggressive) BTC investment approach.

i take it exactly as it looks, once your initial investment pays out in the tangible assets (money, physical items of worth, knowledge, whatever) its all gravy. i would think (hope) most people in this thread are in this category, ie playing with "house money." at this point even if my stack goes to zero the minute i type this i still made out.

now, one can always argue about lost profit opportunity from this point on, buts thats another animal to me.

[Torque]

Hey, it sounds depressing to compare bitcoin to the dot.com bubble. Just saying.

I don't think blockchain has reached the level of ubiquity and mass fomo dot.com reached during that time. No(fucking)where near that level... yet.

While there are some similarities, you have to admit that people who bought Apple and Amazon stock in the 1990s and held are doing well now. Heck, I remember the days of Darwin, when we used to talk about the R value of Apple stock (the insulation value of the stock certificates when crumpled up and stuffed in your walls) as well as the BTU values of Microsoft stock (how much heat it gives when you burn it).

Still funny today.

I remember this time period like it was yesterday.

Still have a pristine Quadra 700, two Quadra 840AVs, and and IIci sitting in my basement. I don't know why I held on to them. I even have two like new Newton Messagepad 2100s that have wireless cards. Still work great, fun for a laugh. Now all the vintage computer collectors think I am seriously cool.

[RealMachasm]

For the record I am fine with the price going either direction,
[...]
 since my cost average is still zero (I have gained more dollars than my investment and still have coins left).

I am pretty sure that I understand what you are saying here, which is that you have already pretty much pulled out all of the amount of your principle (the amount that you invested); however, with such a great investment like bitcoin, to me, it does come off as a bit lazy for anyone who presumes to be knowledgeable about bitcoin to be just floating around in the space with assertions of "zero costs" when the BTC price has gone from $250 to $19,666 and back down to a bit below $5,800 (so far).  Accordingly, there seems to be a lot of potential (and activism potential) there that is being glossed over, if you are merely asserting "zero costs" without attempting to get into either more specific measures of your investment situation or creating a more active (and perhaps aggressive) BTC investment approach.

i take it exactly as it looks, once your initial investment pays out in the tangible assets (money, physical items of worth, knowledge, whatever) its all gravy. i would think (hope) most people in this thread are in this category, ie playing with "house money." at this point even if my stack goes to zero the minute i type this i still made out.

now, one can always argue about lost profit opportunity from this point on, buts thats another animal to me.

Yep. All gravy here.
Thing is I love lots of gravy!

[vapourminer]

yup, working 7am to 6pm. acquire more FIAT which we can exchange to BTC. get rich and retired in 2022.

Does the fact that you bought bitcoin like 5 years ago make any difference on the life you live right now moneywise, do you take profits and buy stuff you otherwise couldn't afford with your job, or do you just reinvest more?

im not Gyrsur but i mined btc back in 2011 onward and also buy/bought here and there over the years.

my answers are huge yes, big yes, and yes.

May I ask what is the percentage between total incoming BTC over that time and currently hodl'ed BTC is? Or maximum BTC hodled vs currently....

hard to tell. back when i started and btc was so cheap i didnt really pay attention. i got in it for the experimental aspect more than any profit. all i know is, aside from the first few years, every year i have less btc, but the real world value of that lessor amount of coins is more. usually much more.

as a miner you can look at it as dollar cost averaging, more or less. like i "buy" coin every week, non stop as long as i mine. then sell as needed.

ive mainly used btc as a kind of a "level up" thing. as in i mainly used them to "upgrade" stuff like vacations, toys, gifts etc to a higher level than i would of without btc. occasionally i would lock a chunk of profit up and put it into efts or other non crypto assets that (hopefully) earn returns in a more conventional, less risky way but of course with much less potential profit.

[LFC_Bitcoin]

[Kylapoiss]

What's all this depression and shit? We'll moon soon, no doubt. Compared to 2y ago we are still pretty fcking good, right?

[El duderino_]

^
LFC is just keeping the fun HE's long term bullish as fuck