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

[rjp55]

There has to be a counterbalance to all the cultish posts of the always-bullish people who think that prices are always going straight to the moon tomorrow regardless of any and all TA and that every unfavorable event is always made up.

It was us cultists who kept this project alive when it dropped from $32 to $3 and stayed there for a year. The fraction of investors like me who will willingly go down with the ship are the support base that gives BTC what some call "intrinsic" value. Without us, this really would be a Ponzi Scheme. Contributing to positive change in the world is just as important as ROI.

It was the cultists who kept the project alive, not the developers?
It really doesn't matter if the price goes down to 3$ or 0,3$, what matters is the general utility of bitcoin. The price matters to those who want to get rich with speculation. Sadly bitcoin is built in a way that is extremely attractive to speculation. A coin, that is more about utility then speculation, will actually create a positive change in the world. To tell, that your plans of getting rich by speculation, is bringing positive change to the world, is high level of self-righteousness.

No one would suggest that developers aren't the drivers of the technology. But supporters play a key role as well in spreading a positive influence on the technology and it's potential.

If the goal is to increase adoption, then supporters, regardless of price, will help increase that over people who are constantly bashing it and spreading FUD to benefit their own position.

Then there are people who just come across as obnoxious regardless of their position. They show little respect for others in their posts.

[Biontic]

It really doesn't matter if the price goes down to 3$ or 0,3$, what matters is the general utility of bitcoin. The price matters to those who want to get rich with speculation.

...and, Yes yes, I know this is the price movement and tracking discussion, but to quote Antonopoulos,

The price really is the least interesting thing about bitcoin

[fonzie]

Billie Jean rescued BTC with his bare hands! Holding from 32 to 3$ and up to 1000$ and still in the red.

[Zapffe]

There has to be a counterbalance to all the cultish posts of the always-bullish people who think that prices are always going straight to the moon tomorrow regardless of any and all TA and that every unfavorable event is always made up.

It was us cultists who kept this project alive when it dropped from $32 to $3 and stayed there for a year. The fraction of investors like me who will willingly go down with the ship are the support base that gives BTC what some call "intrinsic" value. Without us, this really would be a Ponzi Scheme. Contributing to positive change in the world is just as important as ROI.

It was the cultists who kept the project alive, not the developers?
It really doesn't matter if the price goes down to 3$ or 0,3$, what matters is the general utility of bitcoin. The price matters to those who want to get rich with speculation. Sadly bitcoin is built in a way that is extremely attractive to speculation. A coin, that is more about utility then speculation, will actually create a positive change in the world. To tell, that your plans of getting rich by speculation, is bringing positive change to the world, is high level of self-righteousness.

You're posting in a fcking Speculation thread, retard

Now are you done shorting?

Please tell me,.... should i buy or sell bitch?

I shorted at around 680, at the end of this awesome careless pump that took the price up from 600 at the start of March. Now I'm not buying back until there is some sure footing. The desperation and high hopes of the hodlers and miners isn't sure footing in my book. The price has to either go down enough, or there have to be new markets that will cause proper rise in demand, then I'm all in and I'd even post a train pic. In my view, buying right now is a disaster waiting to happen.

[tarmi]

Billie Jean rescued BTC with his bare hands! Holding from 32 to 3$ and up to 1000$ and still in the red.

every time I read his post he is buying.

he probably by now has more coins than goat and mircea.

[ChrisML]

So, whats going to happen now

Will the sellers finnaly come to sense and hodl till we reach a $1500 ath for now or what.

[JorgeStolfi]

the china news is made up FUD FUD FUD

Until it is known whether the bank ban is true or false, "Fear, Uncertainty and Doubt" is what a sensible trader should feel. 

[Zapffe]

There has to be a counterbalance to all the cultish posts of the always-bullish people who think that prices are always going straight to the moon tomorrow regardless of any and all TA and that every unfavorable event is always made up.

It was us cultists who kept this project alive when it dropped from $32 to $3 and stayed there for a year. The fraction of investors like me who will willingly go down with the ship are the support base that gives BTC what some call "intrinsic" value. Without us, this really would be a Ponzi Scheme. Contributing to positive change in the world is just as important as ROI.

It was the cultists who kept the project alive, not the developers?
It really doesn't matter if the price goes down to 3$ or 0,3$, what matters is the general utility of bitcoin. The price matters to those who want to get rich with speculation. Sadly bitcoin is built in a way that is extremely attractive to speculation. A coin, that is more about utility then speculation, will actually create a positive change in the world. To tell, that your plans of getting rich by speculation, is bringing positive change to the world, is high level of self-righteousness.

No one would suggest that developers aren't the drivers of the technology. But supporters play a key role as well in spreading a positive influence on the technology and it's potential.

If the goal is to increase adoption, then supporters, regardless of price, will help increase that over people who are constantly bashing it and spreading FUD to benefit their own position.

Then there are people who just come across as obnoxious regardless of their position. They show little respect for others in their posts.

Cultists aren't exactly supporters. They scare away serious investors more then they invite. They make bitcoin look more like an pyramid scheme, then an financial tool. The general public doesn't want to get involved to anything that even smells like a cult. So the "everyone are stupid who doesn't worship bitcoin!" isn't exactly helping bitcoin nor it's price.

[octaft]

Please tell me,.... should i buy or sell bitch?

I suppose it depends on whether you want to be a pimp or a john.

[TERA]

There has to be a counterbalance to all the cultish posts of the always-bullish people who think that prices are always going straight to the moon tomorrow regardless of any and all TA and that every unfavorable event is always made up.

It was us cultists who kept this project alive when it dropped from $32 to $3 and stayed there for a year. The fraction of investors like me who will willingly go down with the ship are the support base that gives BTC what some call "intrinsic" value. Without us, this really would be a Ponzi Scheme. Contributing to positive change in the world is just as important as ROI.

It was the cultists who kept the project alive, not the developers?
It really doesn't matter if the price goes down to 3$ or 0,3$, what matters is the general utility of bitcoin. The price matters to those who want to get rich with speculation. Sadly bitcoin is built in a way that is extremely attractive to speculation. A coin, that is more about utility then speculation, will actually create a positive change in the world. To tell, that your plans of getting rich by speculation, is bringing positive change to the world, is high level of self-righteousness.

No one would suggest that developers aren't the drivers of the technology. But supporters play a key role as well in spreading a positive influence on the technology and it's potential.

If the goal is to increase adoption, then supporters, regardless of price, will help increase that over people who are constantly bashing it and spreading FUD to benefit their own position.

Then there are people who just come across as obnoxious regardless of their position. They show little respect for others in their posts.

Supporters are nice. But does a "supporter" have to be someone who makes ridiculous posts that defy logic and deny facts? Does 'supporting' even have to be about pumping the price? I think of it more like it would involve fostering adoption.

So, whats going to happen now

Will the sellers finnaly come to sense and hodl till we reach a $1500 ath for now or what.

If the next ATH was only $1500, that would be very bearish.

[billyjoeallen]

There has to be a counterbalance to all the cultish posts of the always-bullish people who think that prices are always going straight to the moon tomorrow regardless of any and all TA and that every unfavorable event is always made up.

It was us cultists who kept this project alive when it dropped from $32 to $3 and stayed there for a year. The fraction of investors like me who will willingly go down with the ship are the support base that gives BTC what some call "intrinsic" value. Without us, this really would be a Ponzi Scheme. Contributing to positive change in the world is just as important as ROI.

Really? It was people saying "to da moon" and "fud" that we're rescuing bitcoin? Or was it people who were spreading bitcoin adoption, developing services, adopting merchants, and writing code? Those are two separate things. One particular person might happen to play both roles, but they are still separate roles, and I'm only referring to one of those roles as a 'cultist'.

Unwarranted optimism is not typically cultish behavior. Many actual cultist think the world is going to end. Not the best choice of words, IMHO.

[xulescu]

There has to be a counterbalance to all the cultish posts of the always-bullish people who think that prices are always going straight to the moon tomorrow regardless of any and all TA and that every unfavorable event is always made up.

It was us cultists who kept this project alive when it dropped from $32 to $3 and stayed there for a year. The fraction of investors like me who will willingly go down with the ship are the support base that gives BTC what some call "intrinsic" value. Without us, this really would be a Ponzi Scheme. Contributing to positive change in the world is just as important as ROI.

Really? It was people saying "to da moon" and "fud" that we're rescuing bitcoin? Or was it people who were spreading bitcoin adoption, developing services, adopting merchants, and writing code? Those are two separate things. One particular person might happen to play both roles, but they are still separate roles, and I'm only referring to one of those roles as a 'cultist'.

Unwarranted optimism is not typically cultish behavior. Many actual cultist think the world is going to end and that members of their cult will be illuminated enough to know how to survive certain death. Not the best choice of words, IMHO.

FTFY. Bitcoin cultists are cultists.

[magicmexican]

dat thread derail

[hdbuck]

to me, bitcoin is like a little ladybug: not heavy enough to remain stable. (yet)



 

[JorgeStolfi]

The lack of news is not good news for investors.

The PBoC has issued no denial yet of the "rumor", even though reporters must be calling and and exchange owners must be pleading for them to issue one.

Exchange owners were angry at the "rumors" at first but seem to be quiet now.  Bobby Lee of BTC-China discusses the rumor as if it were possibly true.

Exchange owners must have contacted their banks, and either got no news, or got bad news.  

Here is a recent opinion piece on Caixin.com (by Google Translate, it seems to assume that the report is correct; obviously, since they are the source.)
http://opinion.caixin.com/2014-03-28/100658175.html

People may want to keep googling ' PBoC bitcoin "March 28" ' or  ' "3月28日" "比特币" '  to see if something sinificant comes up.

EDIT: "sinificant" obviously means "significant with respect to China". 

[aminorex]

It really doesn't matter if the price goes down to 3$ or 0,3$, what matters is the general utility of bitcoin.

Not true, unfortunately.  Bitcoin can not materially improve the world without a market cap in the trillions.

[rpietila]

Just when I thought the sentiment could not become worse, it does.

Buy when the sentiment is hostile, sell when it is CCMFtodamoon.

Strong buy to bitcoin at 500.

[magicmexican]

Just when I thought the sentiment could not become worse, it does.

Buy when the sentiment is hostile, sell when it is CCMFtodamoon.

Strong buy to bitcoin at 500.

Mostly true, every time bitcoin is dead, buy it

[aminorex]

desperation and high hopes of the hodlers and miners isn't sure footing in my book. The price has to either go down enough, or there have to be new markets that will cause proper rise in demand

it doesn't matter whether the demand is reserve or consumption -- its all demand.  miners who hoard until profitable, with ever increasing costs to play, and holders who hold, constitute reserve demand.  

it is silly to pretend that only utility gives bitcoin value.  there are many sources of value.  market value is simply demand.  market value is not utility value or productive value.  the sources of market value are as diverse as the sources of demand, and no more diverse.

bitcoin has no productive value without market value, without demand.  demand is required in order to provide bitcoin with its utility value.  it is unlike things which do not function as currencies in that regard.

hoarding bitcoin adds to its productive value as well its market value.

a more liquid market will not require hoarders.  but liquidity will not be self-supporting until the market value is much higher.  meanwhile, it is just like hdbuck's little beetle.  we need more hoarding in order for the market value to reach a level where the usability as currency is improved.  more market value motivates entrepreneurs, motivates awareness, motivates participating in the economy.

[Zapffe]

desperation and high hopes of the hodlers and miners isn't sure footing in my book. The price has to either go down enough, or there have to be new markets that will cause proper rise in demand

it doesn't matter whether the demand is reserve or consumption -- its all demand.  miners who hoard until profitable, with ever increasing costs to play, and holders who hold, constitute reserve demand.  

it is silly to pretend that only utility gives bitcoin value.  there are many sources of value.  market value is simply demand.  market value is not utility value or productive value.  the sources of market value are as diverse as the sources of demand, and no more diverse.

bitcoin has no productive value without market value, without demand.  demand is required in order to provide bitcoin with its utility value.  it is unlike things which do not function as currencies in that regard.

hoarding bitcoin adds to its productive value as well its market value.

a more liquid market will not require hoarders.  but liquidity will not be self-supporting until the market value is much higher.  meanwhile, it is just like hdparms little beetle.  we need more hoarding in order for the market value to reach a level where the usability as currency is improved.  more market value motivates entrepreneurs, motivates awareness, motivates participating in the economy.

Reserve demand can only hold up for so long, and we can see this from the price movement of the previous months. Utility gives bitcoin any value in an idealistic perspective, that was brought forward by some self-righteous posters here. Real thing that gives bitcoin value is it's attraction for speculation.
More market value, together with most of the market owned by anonymous hands, only creates bigger risk. If market value would rise together with the bitcoin market ownership becoming more transparent, then we could talk about it attracting participation. Smart investors never invest into something that has unknown variables that could drastically change the value of investment.