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

[chessnut]

Whatever happens Jan.31, it's already priced in by the whales.  

which would mean they sold, which would mean we most likely get buying pressure after the event.

why would that mean they sold? it looks like they bought a lot at 500..... now its trending up, what more can I say?

[1715171029]

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[Vigil]

Keep in mind people, were on a four year logarithmic up trend of 1000%/year, when we hit the bottom elbow of the technology adoption S curve, it's going to go straight up and anyone sitting in fiat risks missing it just to get a few cheap coins.

It doesn't really go vertical literally. Its just that the rate of increase is not linear, there can still be ups and downs through the "vertical", just not large ones.

[ChartBuddy]

Explanation

[billyjoeallen]

Keep in mind people, were on a four year logarithmic up trend of 1000%/year, when we hit the bottom elbow of the technology adoption S curve, it's going to go straight up and anyone sitting in fiat risks missing it just to get a few cheap coins.

It doesn't really go vertical literally. Its just that the rate of increase is not linear, there can still be ups and downs through the "vertical", just not large ones.

maybe maybe not. the point is, you risk missing the train. The longer you wait to get back on, the more expensive the bitcoins.

[Richy_T]

Keep in mind people, were on a four year logarithmic up trend of 1000%/year, when we hit the bottom elbow of the technology adoption S curve, it's going to go straight up and anyone sitting in fiat risks missing it just to get a few cheap coins.

It doesn't really go vertical literally. Its just that the rate of increase is not linear, there can still be ups and downs through the "vertical", just not large ones.

maybe maybe not. the point is, you risk missing the train. The longer you wait to get back on, the more expensive the bitcoins.

Yup. If you're just looking for cheap coins, start putting in a little bit at a time right away. If it does dip, put in more, if it doesn't, at least you didn't completely miss the train.

If you're just looking to get rich quick, go to a casino roulette wheel and put it all on #36. It requires about the same amount of insight.

And always look honestly at yourself. If at the current price, coins are "just a bit too high", they will probably be that at any price. It's psychological. 9 months ago, there were a whole lot of people suddenly thought 266 was too high.

[ChartBuddy]

Explanation

[mah87]

Keep in mind people, were on a four year logarithmic up trend of 1000%/year, when we hit the bottom elbow of the technology adoption S curve, it's going to go straight up and anyone sitting in fiat risks missing it just to get a few cheap coins.

It doesn't really go vertical literally. Its just that the rate of increase is not linear, there can still be ups and downs through the "vertical", just not large ones.

maybe maybe not. the point is, you risk missing the train. The longer you wait to get back on, the more expensive the bitcoins.

Yup. If you're just looking for cheap coins, start putting in a little bit at a time right away. If it does dip, put in more, if it doesn't, at least you didn't completely miss the train.

If you're just looking to get rich quick, go to a casino roulette wheel and put it all on #36. It requires about the same amount of insight.

And always look honestly at yourself. If at the current price, coins are "just a bit too high", they will probably be that at any price. It's psychological. 9 months ago, there were a whole lot of people suddenly thought 266 was too high.

BITCOIN IS A FUCKIGN BUBBLE. THis will burst one day and bitcoin will be backl to 10$ this is certain.

[TERA]

There are now 3 camps here:

1. Hodling
2. Day tarding
3. Fuckign bubble

[notme]

There are now 3 camps here:

1. Hodling
2. Day tarding
3. Fuckign bubble

What if I'm in all 3 camps?

[OldGeek]

What if I'm in all 3 camps?

That'd make at least two of us.

[5od0miz3r]

BITCOIN IS A FUCKIGN BUBBLE. THis will burst one day and bitcoin will be backl to 10$ this is certain.

BITCOIN IS A FUCKING BUBBLE IT'S GONNA BURST THIS YEAR!

bitcoin is a bubble

...before the bitcoin bubble burst.

So, what exactly are you trying to say?

[Vigil]

What would it take for Bitcoin to go back to $10? I don't forsee that happening.

[OldGeek]

What we call this ‘market’ really is interesting.  For reference:  I have a small mining operation, I purchased for a cold wallet in Sept at 122, and I day trade on BTC-e.

What we are trading, and holding, is the reward paid to the miners for creating and maintaining the blockchain.  (BTW, in my books, holding is a form of speculation.)  We do not buy, nor earn, anything like a share of bitcoin.  We buy and trade what the miner sold to pay his bills or to profit from.

There is a whale of a lot of comment about this mining reward becoming the dominant currency of some future world.  I cannot believe that, for many reasons.

What I can believe is that XBT will be used for quick, cheap, money transfer; that the blockchain can, and likely will, be used for permanent record keeping; and that the idea behind bitcoin will allow some bright people to create some never before thought of – highly useful – applications that will revolutionize monetary practices.

Some merchants will embrace XBT with good reason.  Others will not see a use for it.  Some governments will ignore XBT; others will see it as a threat to their monopoly and restrict it.  Bankers will not care.  Central banks will not care.  Big businesses will not care (they rely on banks for funding and the price of such is built into the product).

If there aren’t significant developments, applications that depend on the blockchain (and hence the miners), say in the next 12 months, then XBT will likely be viewed as a fad.  These significant developments need to be something that will rock the world much like the internet did.  Then the price of XBT will match the needs of the most efficient miners who will keep the blockchain intact. 

Until then, we play footsie with the price of the miner’s efforts.

/end Saturday boredom thoughts

[mah87]

What would it take for Bitcoin to go back to $10? I don't forsee that happening.

Because bitcoin is a bubble with no real value. Someday this will appear clearly.

[chessnut]

What would it take for Bitcoin to go back to $10? I don't forsee that happening.

Because bitcoin is a bubble with no real value. Someday this will appear clearly.

why dont you enlighten us all. I never really thought about it.

[seleme]

Keep in mind people, were on a four year logarithmic up trend of 1000%/year, when we hit the bottom elbow of the technology adoption S curve, it's going to go straight up and anyone sitting in fiat risks missing it just to get a few cheap coins.

It doesn't really go vertical literally. Its just that the rate of increase is not linear, there can still be ups and downs through the "vertical", just not large ones.

maybe maybe not. the point is, you risk missing the train. The longer you wait to get back on, the more expensive the bitcoins.

Yup. If you're just looking for cheap coins, start putting in a little bit at a time right away. If it does dip, put in more, if it doesn't, at least you didn't completely miss the train.

If you're just looking to get rich quick, go to a casino roulette wheel and put it all on #36. It requires about the same amount of insight.

And always look honestly at yourself. If at the current price, coins are "just a bit too high", they will probably be that at any price. It's psychological. 9 months ago, there were a whole lot of people suddenly thought 266 was too high.

BITCOIN IS A FUCKIGN BUBBLE. THis will burst one day and bitcoin will be backl to 10$ this is certain.

406 activity, fuckign unbelievable.

[DaRude]

Our soon-to-be-overlord Willy is back CCMF

[virtualfaqs]

Our soon-to-be-overlord Willy is back CCMF

all hail!

Most annoying bot ever.

[notme]

maybe somebody just has a lot of fiat stuck at gox

[windjc]

What we call this ‘market’ really is interesting.  For reference:  I have a small mining operation, I purchased for a cold wallet in Sept at 122, and I day trade on BTC-e.

What we are trading, and holding, is the reward paid to the miners for creating and maintaining the blockchain.  (BTW, in my books, holding is a form of speculation.)  We do not buy, nor earn, anything like a share of bitcoin.  We buy and trade what the miner sold to pay his bills or to profit from.

There is a whale of a lot of comment about this mining reward becoming the dominant currency of some future world.  I cannot believe that, for many reasons.

What I can believe is that XBT will be used for quick, cheap, money transfer; that the blockchain can, and likely will, be used for permanent record keeping; and that the idea behind bitcoin will allow some bright people to create some never before thought of – highly useful – applications that will revolutionize monetary practices.

Some merchants will embrace XBT with good reason.  Others will not see a use for it.  Some governments will ignore XBT; others will see it as a threat to their monopoly and restrict it.  Bankers will not care.  Central banks will not care.  Big businesses will not care (they rely on banks for funding and the price of such is built into the product).

If there aren’t significant developments, applications that depend on the blockchain (and hence the miners), say in the next 12 months, then XBT will likely be viewed as a fad.  These significant developments need to be something that will rock the world much like the internet did.  Then the price of XBT will match the needs of the most efficient miners who will keep the blockchain intact. 

Until then, we play footsie with the price of the miner’s efforts.

/end Saturday boredom thoughts

Really? You think if something isn't created with bitcoin within the next 12 months that is an easy to swallow and hugely revolutionary addition, than bitcoin will begin to fade into oblivion?  Do I understand you correctly? Because I just don't believe that there isn't a need for a people's money. There are so many different conditions that could use bitcoin and 1st world issues are not the same as 3rd world issues.  You seem to be describing where bitcoin is today in your predictions of what it might be in the future. I think all of us expect too much too soon from bitcoin. It is still a young child. It could be seen as a fad a year from now and still go on to have a revolutionary impact 10+ years from now, IMO