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

[itod]

UPDATE 12288

26/09/2018 itod
...

...and I thought it's better to error on pessimistic side when you started 12288, so I put the end of September. Turns out majority of us were crazily optimistic. Hard lesson to learn, not about this, but generally in life: The less you allow yourself to expect something - better for you. Worry only about things you can control.

[HairyMaclairy]

I haven't done the full Math on this, but isn't that a back and forth kind of game (due to the presence of traders and speculators)?

Correlation vs Causation.  This is the Captain speaking.  If there is a statistician on board, please press the call attendant button to identify yourself to the cabin crew.  

From that perspective you can spin the argument up from both sides. The price is a result of the difficulty, as it dictates the supply. The cause that you speak of can be arbitrarily picked here. (Infinite difficulty = no coins = no price, hence the presence of a difficulty creates a price)

Except this isn’t really accurate. Difficulty adjusts both up and down. With a low enough difficulty I can run the entire Bitcoin network on my 2009 laptop.  Any decrease in supply due to a rapid decrease in hashrate is inconsequential on a multi year time line.

[BTCMILLIONAIRE]

I haven't done the full Math on this, but isn't that a back and forth kind of game (due to the presence of traders and speculators)?

Correlation vs Causation.  This is the Captain speaking.  If there is a statistician on board, please press the call attendant button to identify yourself to the cabin crew.  

From that perspective you can spin the argument up from both sides. The price is a result of the difficulty, as it dictates the supply. The cause that you speak of can be arbitrarily picked here. (Infinite difficulty = no coins = no price, hence the presence of a difficulty creates a price)

Except this isn’t really accurate. Difficulty adjusts both up and down. With a low enough difficulty I can run the entire Bitcoin network on my 2009 laptop.  Any decrease in supply due to a rapid decrease in hashrate is inconsequential on a multi year time line.

I should've clarified that I meant the initial difficulty for the genesis block. A difficulty so high that no coins can be mined results in no coins and thus no price, and a difficulty so low that arbitrarily many coins can be mined by anyone would result in a price of zero. Hence, the difficulty came first, and the price came after. Even without these edge cases, you need to mine coins first before any price can be set though. Alas, you can spin this up either way by including or excluding exotic scenarios.

[Globb0]

Nice growler

[Ted E. Bare]

She's in your avatar. Cool!

[kirreev070]

DPRating compiled a rating of centralized crypto-exchanges based on the ratio of trading volume and users to IP.

[sirazimuth]

the being formerly known as Last of the V8s

I am LA



you may refer to me as LA the Legendary

a legendary promotion after the merit system implemented
<respect>
welcome aboard mate

[d_eddie]

DPRating compiled a rating of centralized crypto-exchanges based on the ratio of trading volume and users to IP.

Y U no Bitstamp?

[d_eddie]

the being formerly known as Last of the V8s

I am LA



you may refer to me as LA the Legendary

The precious bits of info you managed to dig out made you a legend already.
Not to mention the very fne ladies portrayed in some of your most memorable posts.
Way to go!

[Torque]

In all trading markets, there is no more true price or value discovery based on supply/demand anymore.

There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.

That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).

So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?

[xhomerx10]

Current Mood


https://twitter.com/phneep/status/1046264142611574784

Much more boring man.... but on my way for a very late breakfast (hope its not gonna be the headlight of this sunday)

Ok so its the highlight of todayoldschool breakfast and a small pump
Man do i love these moment and this f****** sunday place

via Imgflip Meme Generator

Keep on pumping into october ,hairry Said its a rally month so i’m ready to go

 Jesus Mic!  Based on what I'm seeing I hope you only eat one meal per day!  

[BTCMILLIONAIRE]

In all trading markets, there is no more true price or value discovery based on supply/demand anymore.

There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.

That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).

So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?

Is there even a real narrative in the MSM? I don't think I've really read any article that was relevant or even interesting. Always hype or doom with some fluff that is quite often just flat out wrong. Seems like the only thing they're good for are figuring out when to dump a few coins or buy some more.

[El duderino_]

Current Mood


https://twitter.com/phneep/status/1046264142611574784

Much more boring man.... but on my way for a very late breakfast (hope its not gonna be the headlight of this sunday)

Ok so its the highlight of todayoldschool breakfast and a small pump
Man do i love these moment and this f****** sunday place

via Imgflip Meme Generator

Keep on pumping into october ,hairry Said its a rally month so i’m ready to go

 Jesus Mic!  Based on what I'm seeing I hope you only eat one meal per day! 

btc'ers always have a big appetite as for DIPS as for food as for alcohols as for women etc

[El duderino_]

The first ever crypto bank opening in October in Zurich, Switzerland. 👍🇨🇭 #bitcoin gogo

[El duderino_]

God I wish XRP would just go away already.

Major fucking smug-storm brewing on Twitter.

back on 2

and even shouldn't be in TOP 100

but yeah there will always be flaws              (yeah to much XRP posts and reads everywhere, it will vanish)

[taratorly]

The first ever crypto bank opening in October in Zurich, Switzerland. 👍🇨🇭 #bitcoin gogo

It is an incredible development. Zurich is the important place for money world. I hope it will be good.

[Torque]

In all trading markets, there is no more true price or value discovery based on supply/demand anymore.

There are only two things : technicals (bot trading) and the media "narrative" du jour to support the technical trading.

That's it. (Hint: just look at the 1m chart, that literally shows what all the worldwide Average Joe retail demand there is on any given day. It's a ridiculously pitiful, miniscule amount).

So what do you think will be "the narrative" will be when Bitcoin's technicals turn over to start a new bull run?

Is there even a real narrative in the MSM? I don't think I've really read any article that was relevant or even interesting. Always hype or doom with some fluff that is quite often just flat out wrong. Seems like the only thing they're good for are figuring out when to dump a few coins or buy some more.

I've long theorized that the MSM "narrative" for Bitcoin has always been and always will be negative, primarily for two reasons:

1. Wallstreet doesn't own 90%+ of all bitcoin (like they do with tech stocks), never will, therefore they don't want to promote it (i.e., they can't game the system therefore they are disinterested anyway).

2. The whales that are interested in the Bitcoin market don't want Average Joe to find and buy the bottom. If they can keep up the negative narrative around Bitcoin, they can say "Stay away, there is no good time to buy!". They only want the public to buy the next ATH in the last few weeks and be bag holders.

[jojo69]

you may refer to me as LA the Legendary

A hearty congratulations sir.  Long awaited and well deserved.

Huzzah!

[LFC_Bitcoin]

https://i.imgflip.com/2j1zt1.jpg

I couldn't help but notice the distinct lack of a ring on a particular finger.

As your attorney, I advise you to take a hit out of the little brown bottle in my shaving kit. You won't need much, just a tiny taste.

Then, put a ring on that finger.

Yeah come on mic, time to get down on one knee
Saying that, I’ve been with my girl 10 years now & she has no ring on her finger too

[Torque]

https://i.imgflip.com/2j1zt1.jpg

I couldn't help but notice the distinct lack of a ring on a particular finger.

As your attorney, I advise you to take a hit out of the little brown bottle in my shaving kit. You won't need much, just a tiny taste.

Then, put a ring on that finger.

Right after getting a prenup.