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

[magicmexican]

You just have to adore all these freshly registered ppl with 10 posts showing up and explaining the true nature of things and what is really going to happen.

[MinermanNC]

I think now might would be a good time to consider buying BTC...  

[igorr]

I think now might would be a good time to consider buying BTC...  

Please buy,  much buy.

[JayJuanGee]

WTF? This is NOT really news, is it?  What is the change, exactly that supposedly took place since we found out about this in December 2013, no?

Well, it seems that most of the Chinese exchanges were still using bank transfers to/from corporate accounts and some form of payment through 3rd party processors (prepaid cards?) for CNY deposits and withdrawals.  Even BTC-China, which avoided banks after the December decrees, eventually started doing the same.

One by one, the exchanges are reporting now that those channels are being closed; most are suspending CNY deposits, one (BTC38) suspended also CNY withdrawals it seems, another (FXBTC) said it will stop CNY withdrawals next Sunday.

It is not clear exactly which of the two methods are closed in each case (I do not know exactly how the "cards" they use work).  However, on the whole it seems that deposits through both channels are being blocked already, it is just a matter of days; and withdrawals very probably will be blocked too soon afterwards.

The Cryptocoins News article dis not mention BTCTrade; that was one more for the list.

OK Thanks.  That does sound as if it is more significant than what had been announced in December 2013 - especially if it is unclear about whether there will be effective work arounds.  I do have some confidence that the Chinese will find some work arounds; however, if there is movement from the "open" to the "black market," then that would likely dry up a lot of volume... and in that regard, it would make sense that we may continue to get considerable downward pressure on BTC prices to account for these current circumstances. 

Regarding price, though it does still seem too soon to sell b/c it remains somewhat unclear that prices will for sure continue to drop or whether the most impact of the news has already been priced in to the current price.  The news will continue to make us a little more on pins and needles, so additional negative news could cause some further price pressures.. especially given what appears to be ongoing relatively low volume.

[MinermanNC]

I think now might would be a good time to consider buying BTC...  

Please buy,  much buy.

Ya really lol I hear ya 

[Mervyn_Pumpkinhead]

And these solid lows won't exist short-term, but these lows will last weeks or months, like they always do. It seems like you guys don't even understand the basic knowledge on trend reversals, or you are playing dumb and manipulating others to buy.

Please check the chart of the last bubble before you call others "dumb".
I might have to retract my previous post already ....  

What gives you the idea, that something this dynamic like the crypto market, will continue the same simple pattern of expansion year after year?
Do you really think think that the pattern of previous years is all that we need, and we shouldn't concentrate on issues like BTC loosing the trust of general public, or losing any of the business that is left in China?

Really?

What gives you the idea that you can call people dumb and manipulators, when the counter-example of your "basic knowledge" is staring you right in the face with the previous fricking bubble.  

Really?

The start of the previous bubble was different, and the end of the previous bubble was different. Only thing that they had similar, was that they were both bitcoin bubbles. To overly simplifying things and saying that the trend will be the same as the previous trend, is dumb in my book.

I think that you guys should read up on finance, economy, entrepreneurship and the general idea trading stocks. Ignorance causes lot's of conflict here. I'm getting a little tired of it, because at first I will be called names and ridiculed, but when I in turn start to call the same people names and ridicule them, then they will start to cry that I'm cruel towards them.

[JayJuanGee]

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.

I would probably like to buy some altcoins if the investment will look profitable enough. I'm interested in BTCs price, mainly because altcoins are strongly linked to it. And of course I'm interested that BTC would stop this slow downfall and start a new upwards trend. But it can only happen with important positive developments in the market system or if the price is low enough, that there really isn't any room left. And these solid lows won't exist short-term, but these lows will last weeks or months, like they always do. It seems like you guys don't even understand the basic knowledge on trend reversals, or you are playing dumb and manipulating others to buy.

First of all you are getting into some kind of weird idea that alts are better than BTC... and possibly, you may be able to get more of a pump out of the several hundred alt options... and you can play your information as you will.  I am sure that you will tell us after the fact how much money you made in alts... which may or may NOT be true and hard to prove... Further this is NOT a thread about alts.  Anyhow, many on this thread believe BTC is the main man.. or the main coin at least for the foreseeable future.. next year or two.. even though there could be profit in other coins. and even though another coin may come to compete with BTC.   At the moment, BTC does NOT really have any meaningful competition in the long term.. even though there may be some good investment opportunities in some various and or random alt coins... depending on which one(s) you choose.

Second:  it is all fine and dandy that you want to tell us your intentions and your investment plans; however, when you start to accuse us with manipulation, you are acting like a a jerk... and for what purpose?  Do you have something that you want to contribute to the thread, then no problem... give us your perspective - that is what each of us are doing giving perspective.. .. so a bull or a bear for that matter is NOT automatically manipulating.. unless you have some specific information about such manipulation, it is NOT really necessary to accuse others of manipulation.

[lynn_402]

There's way more good news than bad news right now, especially since China's ban is priced-in since January.
Look at that:
http://www.coindesk.com/congressional-hearing-explores-costs-benefits-small-business-bitcoin-use/
http://www.coindesk.com/bank-montreal-open-rekindling-partnerships-bitcoin-businesses/
http://www.coindesk.com/robocoin-machine-heats-competition-londons-bitcoin-atms/

For every bad news, there's at least 2 good news. And consider the fact that most bear already sold most of their coins.
That's a recipe for a bull-market folks'.

[Spaceman_Spiff]

And these solid lows won't exist short-term, but these lows will last weeks or months, like they always do. It seems like you guys don't even understand the basic knowledge on trend reversals, or you are playing dumb and manipulating others to buy.

Please check the chart of the last bubble before you call others "dumb".
I might have to retract my previous post already ....  

What gives you the idea, that something this dynamic like the crypto market, will continue the same simple pattern of expansion year after year?
Do you really think think that the pattern of previous years is all that we need, and we shouldn't concentrate on issues like BTC loosing the trust of general public, or losing any of the business that is left in China?

Really?

What gives you the idea that you can call people dumb and manipulators, when the counter-example of your "basic knowledge" is staring you right in the face with the previous fricking bubble.  

Really?

The start of the previous bubble was different, and the end of the previous bubble was different. Only thing that they had similar, was that they were both bitcoin bubbles. To overly simplifying things and saying that the trend will be the same as the previous trend, is dumb in my book.

I think that you guys should read up on finance, economy, entrepreneurship and the general idea trading stocks. Ignorance causes lot's of conflict here. I'm getting a little tired of it, because at first I will be called names and ridiculed, but when I in turn start to call the same people names and ridicule them, then they will start to cry that I'm cruel towards them.

You are putting words in my mouth and then arguing them.  Maybe you should get your head out of your ass and look at what people are actually saying instead of building your own fantasy world.  Either way, I am done with you.

[gibbtek]

Dear all,

I love bitcoin.

99% because it's such a cool idea... it's really amazing it took us this long to realise it, and 1% because I like the idea I could make some money by doing something that seems (deceptively) easy.

The idea of crypto (to me) is a bit like evolution. We had a bunch of stupid ideas to explain how animals worked and then along came a theory that seemed to fit pretty well. When you hear it, (at least for me) "well of course that's how it works!". Simple. That's what I thought when I first heard about BTC "well course that's how we should do it!"

My problem is, and I've heard this a few times (even said it myself) "we're in a new wild west". I hear something like, well Gox, Neo, China et al are getting weeded out, and somehow "we'll be left with only the good guys".

Well, we had a "wild west" already and take look at how that turned out, USA full of good guys? (I'm talking mostly about the ones who run it of course). Never underestimate the ability of douche bags to take control and make life crappy for everyone else.

I love BTC because I'm a geek first, and a trader ... well defo somewhere waaay down the list coz I suck at it. But I still love it.

But anyway it seems to me like BTC is like when your parents are away and you've got a house party. You want as many people to come as possible because then you think your party will be amazing, but then a bunch assholes turn up, none of the nice guys are big enough to do anything about it, and then the party is ruined for most and awesome for only a few. I'm starting to wonder if that's how life works.

Until nice guys really learn how to play hard ball and keep douche bags out (at least keep them in check), no matter how good an idea crypto currency is it will still turn to shit.

I am a hardcore bitcoiner/crypto whatever, not because I will make money but because it's a good idea. That's all it needs to be to get my love.

If my time comes to defend it, I will do my best.

I am with it all the way to the moon or to the ocean floor.

PS: The banter on this thread is epic, thank you all for something interesting to read while I drink my coffee, move 1's and 0's and watch progress bars for a living.

Long live BitCoin!

[PoolMinor]

Off Topic but fitting:  Bucephalus Bouncing Ball


http://youtu.be/uIeA2ct5Sew

[Mervyn_Pumpkinhead]

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.

I would probably like to buy some altcoins if the investment will look profitable enough. I'm interested in BTCs price, mainly because altcoins are strongly linked to it. And of course I'm interested that BTC would stop this slow downfall and start a new upwards trend. But it can only happen with important positive developments in the market system or if the price is low enough, that there really isn't any room left. And these solid lows won't exist short-term, but these lows will last weeks or months, like they always do. It seems like you guys don't even understand the basic knowledge on trend reversals, or you are playing dumb and manipulating others to buy.

First of all you are getting into some kind of weird idea that alts are better than BTC... and possibly, you may be able to get more of a pump out of the several hundred alt options... and you can play your information as you will.  I am sure that you will tell us after the fact how much money you made in alts... which may or may NOT be true and hard to prove... Further this is NOT a thread about alts.  Anyhow, many on this thread believe BTC is the main man.. or the main coin at least for the foreseeable future.. next year or two.. even though there could be profit in other coins. and even though another coin may come to compete with BTC.   At the moment, BTC does NOT really have any meaningful competition in the long term.. even though there may be some good investment opportunities in some various and or random alt coins... depending on which one(s) you choose.

Second:  it is all fine and dandy that you want to tell us your intentions and your investment plans; however, when you start to accuse us with manipulation, you are acting like a a jerk... and for what purpose?  Do you have something that you want to contribute to the thread, then no problem... give us your perspective - that is what each of us are doing giving perspective.. .. so a bull or a bear for that matter is NOT automatically manipulating.. unless you have some specific information about such manipulation, it is NOT really necessary to accuse others of manipulation.

I'm clad to see that you see investing into alts as weird.

Also, I'm not accusing anyone of manipulation. All I'm saying that these constant errors of calling false bottoms and trend reversals come either out of stupidity or we are dealing with deliberate acts of misdirection.

[silverfuture]

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.

#3 spotted in the wild!

https://bitcointalk.org/index.php?topic=554625.0;topicseen

[JayJuanGee]

In the mean time....Russia is on the verge of invading eastern Ukraine...

That is almost like predicting BTC prices.  Is it really going to happen, and if so when, and by how much... whatever... sounds like the topic of another thread, even though these kinds of events could affect BTC prices b/c of supply and demand in the event that BTC were to be increasingly implemented or used b/c of these kinds of world events.

Great response btw

Thx... I do believe, though, to the extent that we are NOT battling trolls and other stupid ass disinformation posts, there is a lot of potential in this speculation thread to discuss how various world events and world circumstances play into the price of bitcoin and the expected increases in adoption.   There are so many countries or groups of people who likely going to recognize bitcoin prospects and to incorporate bitcoin related technologies into their lives.   Surely, the world will NOT be saved in any quick or meaningful way b/c there are likely going to be a lot of battles ahead... including competing and deceptive btc-like imitations.

[solex]

 Either way, I am done with you.

Beat you to it. I don't have a massive ignore list but this one was record quick for me, which is really something considering what comes onto this forum.

[windjc]

The price is still fighting in the high 430s. The market is trying hard to put in a bottom, but its just avoiding the inevitable breakdown to new lows.

Its just a matter of time now.

Is Chessnut okay?

[magicmexican]

sudden 484 coin dump on huobi

[chessnut]

The price is still fighting in the high 430s. The market is trying hard to put in a bottom, but its just avoiding the inevitable breakdown to new lows.

Its just a matter of time now.

Is Chessnut okay?

thanks for the kind though im doing well thnks.

[roslinpl]

Price is not bad at all when you want to buy ;P

Worst if you want to sell

[magicmexican]

The price is still fighting in the high 430s. The market is trying hard to put in a bottom, but its just avoiding the inevitable breakdown to new lows.

Its just a matter of time now.

Is Chessnut okay?

Ye thats probably the case, everyone still waiting for that "omfg what the fuck i cant believe its real"-bottom.

I am not sure it will appear this time tho, i think its about 70% possibility it will, but there is a chance it will be very slow and overall kinda "meh"