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

[QuestionAuthority]

What happened? I thought you people were bitcoins first line of defense? Why are you all sleeping on the job?

No just not behind my computer @the moment and had Some important shit to do today
Almost home

But in here we all know the DRILL just cry untill the price go’s up again....

But same time discuss HAT’s-BTFD’s-HODL-see the long term big picture-.......-etc......

Oh, well if that’s all that’s needed to increase the price I’m sure you guys can handle it.

[Astargath]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

Its the same impact as a president tweeting something about any company.

But there is a difference from 1 company and a whole international 24/7 market, isn't it? Plus these are supposed to be currencies. It's ridiculous.

[JayJuanGee]

[edited out]

Are you persuaded that Bitcoin is reacting negatively to the fork ?



Maybe one day you will listen to me

I read your posts and frequently account for their ideas (which seems to be good enough for "listening").  What more you expect me to do?  Moderate my trading strategy?  or some other drastic means?  Kiss your feet?

Merely because something, such as lowering btc price, is currently happening does not mean that it was inevitable or even greater than a 50% chance before it happened... or even that it was caused by whatever event that you are attributing to it.   

So I would not become too self-congratulatory and smug if I were you, and like I must have said a zillion times, I am more into questioning predictions that seem to be putting out too high of certainties on future events, and also my own predictions in terms of the next leg frequently tend in the 40% to 60% range, so I am rarely making bold statements, and surely the more legs out, the less confidence that I tend to have, so of course, the probabilities go down... even though my overall long term effervescent presumption about bitcoin remains with other BTC HODLers and accumulators that the future price is going to be higher than its current price.

In other words, your irresistible urge to say "I told you so" is not getting a lot of ear traction with me, even though it got me to write a relatively lengthy response.   

[xhomerx10]

What happened? I thought you people were bitcoins first line of defense? Why are you all sleeping on the job?

Because you aren't wearing a hat.

 Hey, I tried but that JJG amount of text in his avatar is no legible once shrunk to the proportions of the hat even with some creative text compression.

[d_eddie]

Easy, guys. A bit of turmoil. In my opinion, this is related more to the BCH toothache than to BAKKT, though it doesn't really matter. This is the good shakeout we all needed.

The easy way to take advantage - buy the dip without looking for the bottom. Keep that dollar cost average going.

The harder way: short some BCH since 1-2 weeks ago. The hardest way: short some BTC too, but be ready to take profit or stop loss quickish.

I think end of year will be a sweet time.

Everything strictly SOMA, but my money is always where my mouth is.

[HI-TEC99]

"Craig Wright says he has an exploit to take down Bitcoin (BTC) by end of 2019. Does he? Or all talk?"

https://youtu.be/4TOnHAlI_Vg

WTF? I hope it's just Craig Wright talking out of his ass...

CSW's whole thing is to exploit how people tend to believe that things aren't total lies. So when he says he's Satoshi, people think "Well, I don't believe he's Satoshi, but maybe he knew Satoshi". Or "He failed to destroy BTC with mining power like he said he would last year, but maybe he still actually has a bunch of mining capacity hidden away somewhere." Or "There's no technical way for him to irrecoverably screw with SegWit transactions, but maybe he found some bug somewhere."

But really he's completely full of shit; the vast majority of claims he makes are complete lies from front to back. (And often just a tiny bit of research will make this obvious.)

If he had an exploit to take down Bitcoin (BTC) he would use it today. Why wait for months before using it?

[QuestionAuthority]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

Its the same impact as a president tweeting something about any company.

But there is a difference from 1 company and a whole international 24/7 market, isn't it? Plus these are supposed to be currencies. It's ridiculous.

It’s only ridiculous because we implemented all those Wall Street regulations to avoid market manipulation.

[DaRude]

"Craig Wright says he has an exploit to take down Bitcoin (BTC) by end of 2019. Does he? Or all talk?"

https://youtu.be/4TOnHAlI_Vg

WTF? I hope it's just Craig Wright talking out of his ass...

CSW's whole thing is to exploit how people tend to believe that things aren't total lies. So when he says he's Satoshi, people think "Well, I don't believe he's Satoshi, but maybe he knew Satoshi". Or "He failed to destroy BTC with mining power like he said he would last year, but maybe he still actually has a bunch of mining capacity hidden away somewhere." Or "There's no technical way for him to irrecoverably screw with SegWit transactions, but maybe he found some bug somewhere."

But really he's completely full of shit; the vast majority of claims he makes are complete lies from front to back. (And often just a tiny bit of research will make this obvious.)

He found a bug that no one has yet found and somehow he's confident that no one will find it in the next year so he can exploit it at the end of 2019? Anyone taking him seriously needs to get themselves checked. He's just doing a power grab and trying to make himself as power full as possible to minimize his losses and this retarded move. I mean you burn tons of BTC to CryptoRaid bcash   congrat now you got bcash with even less of support than before  

[jbreher]

Jihan is reported to have said a few hours ago regarding the BCH fork, "I have no intention to start a hash war with CSW, because if I do (by relocating hash power from btc mining to bch mining), btc price will dump below yearly support; it may even breach $5000. But since CSW is relentless, I am all in to fight till death!"

Hmm. Fascinating. Indeed.

Who could have ever seen this coming?

link?

https://twitter.com/RamenofBinance/status/1062695905768263680

Thanks

keep up

I usually seem to be able to. Today is as drinking from a fire hose.

[serveria.com]

Uncle Craig is about to dump bitcoin to $1k!
https://twitter.com/ProfFaustus/status/1062751765601361923

At least he's a nice guy, wishing us all a nice day.

A nice day for mass suicides.

What he really was trying to say is that miners should avoid mining BCH or else... DOOM?   WTF?

Anyhow, I see lots of cheap coins, stock up gentlemen and get ready for the inevitable launch soon  

[d_eddie]

Oh..  And hello to the people in the future who are studying this thread as part of the evidence of market psychology of the early 21st century bitcoin phenomenon.

Don't you wish you had been here with us?

I know.. I know...  Lucky bastards we are.  

We even know it on a day like today.

This. cAPSLOCK said it before me, and better.

[jbreher]

Whatever they do the exchanges will still call it Bcash ABC or whatever. They might think they're ditching the bcash name, but they're stuck with it.

Haha. You funny guy.

None of the exchanges that matter call Bitcoin Cash 'BCash'. What makes you think they'll start now? Proof of Social Media?

[JayJuanGee]

What happened to goat?

There was this user "goat" on Bitmex. He was very active in the trollbox. He defined himself as an old guy, at least in comparison to the juvenile crowd there. Boasted a lot about his riches and his profits. Gained an awful lot lot, until one day he got very, very, very badly rekt. That was a few months before the drop from ~20k down. Unseen until then (like 18 or so months ago).

Could it be him?

Remember Richard Heart?  He acted like the goat scenario that you describe... however, Heart was whining like a baby, when BTC went down to $6k the first time, in about early February 2018  - which kind of implied that he had already largely lost his shirt from the post $19,666 price downfall.

[goldkingcoiner]

I am starting to lose faith....

In that case, drop acid, and load up Bitmex.

If tomorrow a bull market starts, I will eat 10 doses of acid and trade 50x on Bitmex

[JayJuanGee]

this could get ugly

When’s the exact time of this shit fork?

a little less than 24 hours... as I type but of course, I am responding to a post from 3 hours ago...... so that substance might not be too timely.

https://cash.coin.dance/

[serveria.com]

this could get ugly

When’s the exact time of this shit fork?

a little less than 24 hours... as I type but of course, I am responding to a post from 3 hours ago...... so that substance might not be too timely.

https://cash.coin.dance/

Why do you guys care about some shitcoins and their shitforks? Those guys are enjoying too much attention! Just ignore them, their social media accounts and their shitwars! 

[jbreher]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

This is crypto. Hash power is The Power.

"They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."

- SN, Bitcoin: A Peer-to-Peer Electronic Cash System

[Last of the V8s]

[BTCMILLIONAIRE]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

Its the same impact as a president tweeting something about any company.

But there is a difference from 1 company and a whole international 24/7 market, isn't it? Plus these are supposed to be currencies. It's ridiculous.

One company's stocks are (often, but not always) an international near 24/7 market.

[DaRude]

Uncle Craig is about to dump bitcoin to $1k!
https://twitter.com/ProfFaustus/status/1062751765601361923

At least he's a nice guy, wishing us all a nice day.

A nice day for mass suicides.

What he really was trying to say is that miners should avoid mining BCH or else... DOOM?   WTF?

Anyhow, I see lots of cheap coins, stock up gentlemen and get ready for the inevitable launch soon  

Just gonna leave this here

If anything I see the BCH fork as bullish for bitcoin. People are presumably going to either cash out their shit fork coin to fiat or/and convert it to bitcoin.

I think we’ll see the bitcoin price go up on the day or a few days after their fork.

Well bcashABC and bcashSV is a closed system, so them exchanging their alts for each other, from the outside, is a zero sum game. Now the big question is inflow/outflow from the outside capital. Do you expect the loosing side just simply watch as they're loosing or do you think they'll try to put up defense and prop up their side? Both sides have their reserves in BTC, so i don't think it's unrealistic to expect them to burn through their BTC stashes to support their side. That's why after the fork the sum value of both chains is usually higher than the initial chain, as both sides brought in outside capital to prop up their visions. I think CSW already proved that he's willing to burn money on hash rate when mining his useless chain, and i don't believe he's a complete idiot, so he'd also need to prop up the value of his chain at some peg as well. But i believe that was already going on as both sides were planning for this and have been gradually cashing out their BTC in preparations for this event. Thats why BTC has been trading sideways for last few months.

But in any case this is good news for BTC, the more those geniuses reduce their BTC stashes fighting each other the more irrelevant they become to BTC.

tl;dr  maybe a bit more short term sell pressure on BTC while both sides deplete their BTC reserves in the last battles of the bcash war

Translation he underestimated ABC's power and over estimated his. Now he needs to burn more BTC than he expected to prop up SV. Any day CSW cashes out of BTC is a good day!