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

[kurious]

Price was on a steady decline last summer until it become clear that Gox's excuses for fiat withdrawal delays were bullshit. We don't have similar circumstances to put the brakes on capitulation this time.

I keep reading that and I still don't follow...

[QuestionAuthority]

How low do you think it will go this time? I want to buy back in a 100. Will I get the chance?

[QuestionAuthority]

Price was on a steady decline last summer until it become clear that Gox's excuses for fiat withdrawal delays were bullshit. We don't have similar circumstances to put the brakes on capitulation this time.

I keep reading that and I still don't follow...

Fuck that's ugly. Kill it with fire!

[Hawkix]

How low do you think it will go this time? I want to buy back in a 100. Will I get the chance?

No

[QuestionAuthority]

How low do you think it will go this time? I want to buy back in a 100. Will I get the chance?

No

Why not?

[boumalo]

Price was on a steady decline last summer until it become clear that Gox's excuses for fiat withdrawal delays were bullshit. We don't have similar circumstances to put the brakes on capitulation this time.

You would think that the bad news about mtgox was not going to stop the decline...

I see plenty of reasons that can put the brakes on capitulation : adoption growing, people coming back to BTC because they think the price went down enough, inflation, Janett Yellen saying she will increase QE, a new and bigger European debt crisis...

[kurious]

Price was on a steady decline last summer until it become clear that Gox's excuses for fiat withdrawal delays were bullshit. We don't have similar circumstances to put the brakes on capitulation this time.

I keep reading that and I still don't follow...

Fuck that's ugly. Kill it with fire!

They're real nice fried in a garlic sauce...

[QuestionAuthority]

Price was on a steady decline last summer until it become clear that Gox's excuses for fiat withdrawal delays were bullshit. We don't have similar circumstances to put the brakes on capitulation this time.

I keep reading that and I still don't follow...

Fuck that's ugly. Kill it with fire!

They're real nice fried in a garlic sauce...

I wouldn't eat that thing if you shoved it up Katy Perry's pussy.

[chriswilmer]

because I have about $200k in fiat ready to go all in at any prices that gets that low.

very juicy indeed

You think I'm the only one? Hardly.

The bulls could only run so far for so long. The same is true with the bears.

Bears like to talk about 2011. Its what they hang their hat on.

How many people were investing millions into bitcoin in 2011? I would doubt if the answer was more than 1 or 2. Probably zero. How many people are doing that now. A lot.

How many start-ups internationally existed funded solely for bitcoin businesses in 2011. How many today - hundreds, perhaps thousands.

I could go on and on. Sure, the bears could be right about this being another 2011.

I think it is much more likely that they are as "delusional" as all the to-the-moon bulls back in December.

We will see.

Of course you're right. Whenever the rally starts it will be quick and violent (again). Right now investors with deep pockets who are vaguely interested in Bitcoin just don't feel in an any hurry... but they will once the trend reverses.

[Adrian-x]

im supposed to not wire more fiat then i can lose but i might have to do it

A monetary loss cannot be measured just in dollars, you must consider what it could mean to your life, now and in the future.  If you have a few million $, losing 100 k$ is only an inconvenience, and you will probably recover those 100 k$ in a matter of months .  If all you own is a house worth 200 k$, losing 100 k$ is a big trauma, may even cost your family and you may never recover those 100 k$.  

If it helps you decide, I am going to change my signature from "rather skeptic" to "very skeptic".  I now put the chances of Bitcoin (specifically, not some future crypto-coin) becoming a significant currency of e-commerce at about the same level of myself becoming Pope.  And it has nothing to do with price evolution or recent news.

So you are saying don't just measure dollars but relative dollar, you can still measure in dollars.

As for your opinion I'm curious, what do you define as e-commerce?

In December 2012 I had finished my thought experiment and Bitcoin education of 20 months. (My skepticism was based on the fact my investment had over a 300% return. I could see no way for it to succeeded as a currency other than in black markets where there were greater inefficiencies. My conclusion was the velocity of Bitcoin couldn't justify the price (silk road accounting for approximately 80% of Bitcoin commerce.)

So I sold all but the fiew coins I mined. Needless to say over the following 12 months Bitcoin went from $10 to $1,000.
The shock (lost opportunity) made me reconsider my assumptions.

I finally reconciled my understanding with the fact Bitcoin could be used as a currency for e-commerce, if it's price collapsed.
But it's killer app was store of value and vertual commodity.

Since then my trading style has reflected that understanding.

I would love to know what it is about Bitcoin that has entrenched you skepticism ?

[kurious]

Price was on a steady decline last summer until it become clear that Gox's excuses for fiat withdrawal delays were bullshit. We don't have similar circumstances to put the brakes on capitulation this time.

I keep reading that and I still don't follow...

Fuck that's ugly. Kill it with fire!

They're real nice fried in a garlic sauce...

I wouldn't eat that thing if you shoved it up Katy Perry's pussy.

Seriously though Walsoraj, what did you mean = that Gox's fiat excuses being revealed as bullshit held the market up and prevented capitulation..?

[JorgeStolfi]

You spend an awful lot of time and effort being skeptical of Bitcoin. Is there anything you're optimistic about or are you just a generally skeptical guy?

Not much... I see that the world is in a terrible mess, and paths to a better future are long, narrow and lost in the fog of uncertainty...

My country seems to be moving  in the right direction, finally; although it too has a long way to go and its enemies are formidable.

The world is turning away from nuclear energy, coal and oil, hopefully to wind, hydro, solar.  Even if these are more expensive now (not of nuclear it seems), the price will be worth it, IMHO.

Right now I can't think of anything else that feels positive.  Human rights, on the internet or outside it, are not progressing, somtimes are going backwards. (Intenet censorship is much worse now than it was in the 1990s, especially in the "free" countries.)  Agriculture is becoming more and more "inhuman". Industry is centralized in megacorporations that use patents to stifle competition.  And so on...

Even cryptocurrency, a potentially nice idea, has become the "property" of  a swarm of scumbags, that make bankers look like angels of virtue and generosity. in comparison.

[chriswilmer]

Price was on a steady decline last summer until it become clear that Gox's excuses for fiat withdrawal delays were bullshit. We don't have similar circumstances to put the brakes on capitulation this time.

I keep reading that and I still don't follow...

Fuck that's ugly. Kill it with fire!

They're real nice fried in a garlic sauce...

I wouldn't eat that thing if you shoved it up Katy Perry's pussy.

Seriously though Walsoraj, what did you mean = that Gox's fiat excuses being revealed as bullshit held the market up and prevented capitulation..?

I think he means that people gave up waiting for their fiat to withdraw and so they instead bought bitcoins and withdrew those... collectively, this looked from the outside like a big rally. I'm not saying that's what happened, but I think that's what Walsoraj was getting at.

[boumalo]

You spend an awful lot of time and effort being skeptical of Bitcoin. Is there anything you're optimistic about or are you just a generally skeptical guy?

Not much... I see that the world is in a terrible mess, and paths to a better future are long, narrow and lost in the fog of uncertainty...

My country seems to be moving  in the right direction, finally; although it too has a long way to go and its enemies are formidable.

The world is turning away from nuclear energy, coal and oil, hopefully to wind, hydro, solar.  Even if these are more expensive now (not of nuclear it seems), the price will be worth it, IMHO.

Right now I can't think of anything else that feels positive.  Human rights, on the internet or outside it, are not progressing, somtimes are going backwards. (Intenet censorship is much worse now than it was in the 1990s, especially in the "free" countries.)  Agriculture is becoming more and more "inhuman". Industry is centralized in megacorporations that use patents to stifle competition.  And so on...

Even cryptocurrency, a potentially nice idea, has become the "property" of  a swarm of scumbags, that make bankers look like angels of virtue and generosity. in comparison.

There are many reasons to be pessimistic but let me give you a few reasons to be optimistic :

More and more people are starting to understand that a big government is bad for them and protect the big corporations instead of protecting them; the freedom ideas are travelling fast on internet, everyone can get to understand them by watching a few videos of Stefan Molyneux : https://www.youtube.com/user/stefbot

Asia is developing and parts of Africa too

[ChartBuddy]

Explanation

[Davyd05]

im supposed to not wire more fiat then i can lose but i might have to do it

A monetary loss cannot be measured just in dollars, you must consider what it could mean to your life, now and in the future.  If you have a few million $, losing 100 k$ is only an inconvenience, and you will probably recover those 100 k$ in a matter of months .  If all you own is a house worth 200 k$, losing 100 k$ is a big trauma, may even cost your family and you may never recover those 100 k$.  

If it helps you decide, I am going to change my signature from "rather skeptic" to "very skeptic".  I now put the chances of Bitcoin (specifically, not some future crypto-coin) becoming a significant currency of e-commerce at about the same level of myself becoming Pope.  And it has nothing to do with price evolution or recent news.

So you are saying don't just measure dollars but relative dollar, you can still measure in dollars.

As for your opinion I'm curious, what do you define as e-commerce?

In December 2012 I had finished my thought experiment and Bitcoin education of 20 months. (My skepticism was based on the fact my investment had over a 300% return. I could see no way for it to succeeded as a currency other than in black markets where there were greater inefficiencies. My conclusion was the velocity of Bitcoin couldn't justify the price (silk road accounting for approximately 80% of Bitcoin commerce.)

So I sold all but the fiew coins I mined. Needless to say over the following 12 months Bitcoin went from $10 to $1,000.
The shock (lost opportunity) made me reconsider my assumptions.

I finally reconciled my understanding with the fact Bitcoin could be used as a currency for e-commerce, if it's price collapsed.
But it's killer app was store of value and vertual commodity.

Since then my trading style has reflected that understanding.

I would love to know what it is about Bitcoin that has entrenched you skepticism ?

I swapped him on to my ignore as it is the same story with new vocab. I don't even know why he posts here per say...but we all arrived here somehow.

I do come here to gain a better understanding of other peoples sentiment and outside opinions to help me develop my own conclusions. Jorge focuses too much of the human aspects; exchanges run by shady char, faked volume due to 0% fees, sleeping Chinese traders, sociopaths who would take your fiat or bitcoin all the same. I invested in bitcoin ultimately because it is a technological revolution of financial accountability at its core, the many aspects of bitcoin that then stem off of this are equally impressive and innovative in my opinion.

[billyjoeallen]

How low do you think it will go this time? I want to buy back in a 100. Will I get the chance?

No

Why not?

Because I will sell my kidneys before that happens. Ok, maybe only one kidney and my house, truck, motorcycle, watch, sister, blood plasma, teeth, shoes...

[boumalo]

im supposed to not wire more fiat then i can lose but i might have to do it

A monetary loss cannot be measured just in dollars, you must consider what it could mean to your life, now and in the future.  If you have a few million $, losing 100 k$ is only an inconvenience, and you will probably recover those 100 k$ in a matter of months .  If all you own is a house worth 200 k$, losing 100 k$ is a big trauma, may even cost your family and you may never recover those 100 k$.  

If it helps you decide, I am going to change my signature from "rather skeptic" to "very skeptic".  I now put the chances of Bitcoin (specifically, not some future crypto-coin) becoming a significant currency of e-commerce at about the same level of myself becoming Pope.  And it has nothing to do with price evolution or recent news.

So you are saying don't just measure dollars but relative dollar, you can still measure in dollars.

As for your opinion I'm curious, what do you define as e-commerce?

In December 2012 I had finished my thought experiment and Bitcoin education of 20 months. (My skepticism was based on the fact my investment had over a 300% return. I could see no way for it to succeeded as a currency other than in black markets where there were greater inefficiencies. My conclusion was the velocity of Bitcoin couldn't justify the price (silk road accounting for approximately 80% of Bitcoin commerce.)

So I sold all but the fiew coins I mined. Needless to say over the following 12 months Bitcoin went from $10 to $1,000.
The shock (lost opportunity) made me reconsider my assumptions.

I finally reconciled my understanding with the fact Bitcoin could be used as a currency for e-commerce, if it's price collapsed.
But it's killer app was store of value and vertual commodity.

Since then my trading style has reflected that understanding.

I would love to know what it is about Bitcoin that has entrenched you skepticism ?

I swapped him on to my ignore as it is the same story with new vocab. I don't even know why he posts here per say...but we all arrived here somehow.

I do come here to gain a better understanding of other peoples sentiment and outside opinions to help me develop my own conclusions. Jorge focuses too much of the human aspects; exchanges run by shady char, faked volume due to 0% fees, sleeping Chinese traders, sociopaths who would take your fiat or bitcoin all the same. I invested in bitcoin ultimately because it is a technological revolution of financial accountability at its core, the many aspects of bitcoin that then stem off of this are equally impressive and innovative in my opinion.

This post can be interesting bc you get to know how people feel and sometimes you learn a thing or 2

Sometimes it makes me think about some aspect of Bitcoin that I didn't think of but I come here mostly for entertainment as I am not even trading BTC; I buy it when I can; if the price is lower I can buy more so I am happy

[PoolMinor]

Seriously though Walsoraj, what did you mean = that Gox's fiat excuses being revealed as bullshit held the market up and prevented capitulation..?

Not to jump into other people's conversations but, you do realize most if not all of what Walsoraj writes is intended as a troll type argument. Please rest assured that not even Wally knows what he said.

[QuestionAuthority]

How low do you think it will go this time? I want to buy back in a 100. Will I get the chance?

No

Why not?

Because I will sell my kidneys before that happens. Ok, maybe only one kidney and my house, truck, motorcycle, watch, sister, blood plasma, teeth, shoes...

I'll give you a hundred bucks for everything. You can keep the teeth.