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

[windjc]

What the fud is going on with btc. Just saw this on reddit. Fud everywhere. The question is how far will it bring the price down??

http://www.reddit.com/r/Bitcoin/comments/221i3e/looks_like_neo_bee_have_packed_up_and_left_says/

This shows you why you cannot open a company on a shoestring. Neo and Bee had an impressive advertising campaign, and no funds to follow through so now they have to close their doors.

That's why companies like Circle.com make sure they have a $10+ million bankroll and then take months and months before they still announce. Its about preparation and planning and capitalization. Neo and Bee had great ideas and leaders who thought they could do things right on a shoe string.

Its embarrassing for "bitcoin" thought because Neo and Bee generated a shit ton of interest in Cyprus.

[fonzie]

@Mervyn_Pumpkinhead

I´m glad you joined to forum. I´m totally down with all of your posts and like the style of your arguments.
I can´t write like this because i´m too big of a troll.
But your opinion fits mine pretty close.

I hope you don´t feel insulted now.

This endorsement is going to help Mervyn_Pumpkinhead with his credibility and reputation in this forum.

JayJuanGee, i also like most of your posts.

 

[JayJuanGee]

Free tip of the day :

So even the content of the referred to post will NOT show up, if you ignore someone?  I have NOTICED Quite a bit of disinformation posted in this thread, but usually, I can just mentally block out the ones who tend to speak too much out of their asses.... with the gobbledy gook.

[KeyserSoze]

Professor Bitcorn getting agitated:
http://www.ustream.tv/recorded/45679957

I think Schweikert really likes Bitcoin. He sees the potential. This is great. Smart government folks like Schweikert and Lawsky who, while they have a job to do, are grasping the potential and you can hear the wheels spinning as they speak as conservatively as they can about how awesome Bitcoin is.

Indeed, looks good. As to Professor Bitcoin, for someone with all the answers he's not much good at straight questions.

He is a pretty good speaker but he is so blind to his position that he is easy to laugh at as well. He said something like, "You won't find a 9000% price rise like that anywhere else on this planet, or any planet."

This immediately says to anyone listening that if he's willing to say something he could not possibly know, for hyperbolic effect, then he is willing to lie. This undermines him overall as a speaker and is why it's fairly easy to ignore his passionate fear arguments even if you don't know anything about Bitcoin.

He also just plainly looks irritated every time he speaks about Bitcoin which shows a strong bias. It's OK to be biased -- we all mostly are to one degree or another. Just best in public to hide the emotional part of it when making an argument.

[adamstgBit]

Anyone remember the big stock market crash of 2007/2008? now look at those who stayed in and held tight, most are smelling the roses. Of course we don't have the FED pumping up the BTC market with quantitative easing etc., but that's what BTC is all about,,,, freedom from that kind of stuff.
Don't panic Its coming back.

[Mythul]

Man when will these bad news ever stop ?

[magicmexican]

^ A+

[Jengo]

Maybe this is the reason for the price drop?

http://www.coindesk.com/chinese-bitcoin-exchanges-okcoin-fxbtc-report-new-deposit-freezes/

[bamsbamx]

would you recommend going to BTC-e from Bitstamp?

[Spaceman_Spiff]

I don't think permabulls are rare here. Just not a lot for us to say during Panic/Capitulation/Despondancy trade cycles. I could post reassuring messages and long term outlooks here all day, that might persuade some people to hold, but really, I'd rather get to the bottom as quick as possible. It's going to happen either way. I expect maximum pain to come before market turns around, and I really haven't felt that yet. I can't really put a $ price on what that would be, but there's no shortage of effort being applied to find out. Perhaps busting below that 400 wall on stamp would do it.

I suspect that moment is approaching, as the "news" is being recycled constantly, and FUDsters are preying on these fears, in tandem with large market dumps that no longer make sense. If you held until now, there's probably more risk in dumping than holding unless dumping for market manipulation purposes. Let the dumps commence, and let the panic spread. It's the best cure for a BTC hangover.

Hear hear

Of course we don't have the FED pumping up the BTC market with quantitative easing etc.

Current central bank actions are one of the reasons why bitcoin exists and generates such an interest in the first place.  The effect of quantitative easing on bitcoin prices should not be ignored.

[fonzie]

^ A+

If someone ignores me and i´m quoting him, the chances are about 97% that he will me unignore me and read my post.
 

It´s all a big fuckin trap.

Gotcha Magicmexican

[windjc]

Maybe this is the reason for the price drop?

http://www.coindesk.com/chinese-bitcoin-exchanges-okcoin-fxbtc-report-new-deposit-freezes/

What's going to happen when Houbi announces?

[MinermanNC]

Man when will these bad news ever stop ?

Its still the wild west in BTC, and it is survival of the fittest. Its the eco system just flushing out the bad actors and poorly managed operations. As a result we are seeing a lot of bad publicity, but there are so many strong BTC organizations that are doing it right and will survive along with BTC.

And yes There is a chance!

[rpietila]

You will see the end of this bear market by these following indicators.

1) The price will go lower then most expected
2) The price will remain low longer then most expected
3) The loudest and the most enthusiastic bulls will start to blame bitcoin and everyone involved for the situation and then write dramatic final speeches of them leaving.

If you will get tired of seeing indicator 3, then it's time to buy, not before.

We have already met all three sufficiently for the price to rise....  at least 1 and 2, which seem the most potentially relevant to this lame-ish description of prerequisites.

 Regarding #2 we have been between $420 and $599 for about 3 weeks... that is quite a long time.

Actually, regarding #3, this is NOT any kind of necessary prerequisite

No, it isn't so, sorry.
"400 is the bottom" has been the most popular belief and fools are still cheering for bitcoin going up. There has to be something stronger, that will shake the fools. Always exit an market when fools enter, and always enter the market when fools exit. And don't ever enter the market, that everyone is talking about, or else you will be the fool. Right now there is a lot of agony from those who bought at the top of the last bubble, but there has to be total desperation with dramatic finishing speeches etc. Then you know that the market is set to buy in.

The more you attempt to explain, the less sense that you make.

+1  

The market is awash with people who definitely have no coin but apparently are very interested in it, otherwise they would not spend their time talking about it. Hence,
- They want to buy bitcoins => Bitcoin price goes up
- They are paid trolls by some who want to disturb the scene => The puppetmasters want to buy => Bitcoin price goes up.

Never does a bear have any teeth to force the price down. The bear can only buy, which makes the price go up.
(the converse for bulls ofc)

It is quite simple to invest when you know the rule that it is the least risky to enter when there is most bearishness around. Almost nobody has any coins to sell, and every bearish post is a proof of craving to buy lower, and if this is not granted, panic buy higher.

[MinermanNC]

Anyone remember the big stock market crash of 2007/2008? now look at those who stayed in and held tight, most are smelling the roses. Of course we don't have the FED pumping up the BTC market with quantitative easing etc., but that's what BTC is all about,,,, freedom from that kind of stuff.
Don't panic Its coming back.

LOL, gotta love Jim Carry,, Thanks for the great pic, it makes me laugh,,, I luv that stupid ass movie,,,, lol

[KeyserSoze]

I don't think permabulls are rare here. Just not a lot for us to say during Panic/Capitulation/Despondancy trade cycles. I could post reassuring messages and long term outlooks here all day, that might persuade some people to hold, but really, I'd rather get to the bottom as quick as possible. It's going to happen either way. I expect maximum pain to come before market turns around, and I really haven't felt that yet. I can't really put a $ price on what that would be, but there's no shortage of effort being applied to find out. Perhaps busting below that 400 wall on stamp would do it.

I suspect that moment is approaching, as the "news" is being recycled constantly, and FUDsters are preying on these fears, in tandem with large market dumps that no longer make sense. If you held until now, there's probably more risk in dumping than holding unless dumping for market manipulation purposes. Let the dumps commence, and let the panic spread. It's the best cure for a BTC hangover.

Hear hear

I must have missed Chalk's initial post but: +1

[fonzie]

would you recommend going to BTC-e from Bitstamp?

YES , the chances that they will walk away with your money are notable lower!

[JorgeStolfi]

Coinbase bid/ask spread is lower than NASDAQ bid/ask spread:
http://www.ustream.tv/recorded/45677473 (@45:00)
For Professor Bitcorn fans, he's back and bashing Bitcoin at the beginning of this video. He's sitting right beside rep from Coinbase and telling SBA that Coinbase is taking too much risk. It seems Jorge would LOVE this guy!

Thanks! But the distinguished colleague is too soft... 

As for the other distingushed colleague near the end, I agree that Bitcoin is a terrific investiment if you have a time machine.  Unfortunately most traders don't, that is why they are generally unimpressed by how much the price of something increased since Gilgamesh was king in Uruk.   

[cruiser]

Maybe this is the reason for the price drop?

http://www.coindesk.com/chinese-bitcoin-exchanges-okcoin-fxbtc-report-new-deposit-freezes/

What's going to happen when Houbi announces?

Huobi reported that it had not received official notification that any of its accounts were affected.

[Spaceman_Spiff]

Always exit an market when fools enter, and always enter the market when fools exit. And don't ever enter the market, that everyone is talking about, or else you will be the fool. Right now there is a lot of agony from those who bought at the top of the last bubble, but there has to be total desperation with dramatic finishing speeches etc. Then you know that the market is set to buy in.

The more you attempt to explain, the less sense that you make.

+1  

The market is awash with people who definitely have no coin but apparently are very interested in it, otherwise they would not spend their time talking about it. Hence,
- They want to buy bitcoins => Bitcoin price goes up
- They are paid trolls by some who want to disturb the scene => The puppetmasters want to buy => Bitcoin price goes up.

Never does a bear have any teeth to force the price down. The bear can only buy, which makes the price go up.
(the converse for bulls ofc)

It is quite simple to invest when you know the rule that it is the least risky to enter when there is most bearishness around. Almost nobody has any coins to sell, and every bearish post is a proof of craving to buy lower, and if this is not granted, panic buy higher.

I think this dude is getting too much shit here for making bearish posts.   Sure he is a FUDster, and he might be wrong in his predictions (I have no idea really), but what he says here isn't that crazy to justify the amount of flack, is it?
To me, that might signal that some bulls are starting to feel uneasy.
Or I might just be looking for sentiment indicators too much, and am starting to see things