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

[igorr]

Ugh, can we please stop quoting the trolls please - here's a short list in case people need reminding, feel free to add to it..

• mah87
• fonzie
• igorr
• chromosoma
• Mervyn_Pumpkinhead
• ShroomsKit_Disgrace

This fall is different from all so far, and has never happened to prices falling like this a long time, five months so far and the decline continues,perhaps another five months or more. who knows

[oda.krell]

However, we are currently witnessing all the bears, even the pretty smart ones, going full retard. It kinda boggles my mind? Never seen anything like this before.

Care to give an example of what you mean?

To me at least, the delusionally bullish posts ("that's it! trend reversal choo choo!") seem pretty balanced right now with the bear FUD ("Single digits, mark my words!").

But maybe i'm biased...

[damiano]

With prices as low as they are now and with the possibility of price collapsing further, what incentive is there to even bother mining?

[KFR]

I love this hypothetical speculation about God Being a day trader. How much would He be trading and to what goal? Maximizing His dollar return on investment?  If so, the goal would be to trade to accumulate Bitcoin by selling  high and then buying back more Bitcoin, a larger dollar amount at the lows. This would over time have a larger and larger effect on the price making the lows higher and the highs lower until the upward trendline is near perfectly smooth. When trendline became perfectly smooth, God could make no more profits from trading volatility and would simply sell 1% for every 1% increase in price for a perpetual river of income. 

Every trader's actions, no matter how small, affect the market. Successful traders reduce volatility and unsuccessful traders increase volatility up the the point they leave the market. This is why bitcoin needs no central bank. It has us. Dumb traders pay smart traders and smart traders reduce volatility.

God doesn't play dice.  God HODLs.

What your saying is that GOD wouldn't be a day trader, which is against the very premise of the hypothetical, you stupid fuck.

Dude I think you might need to take a break.  Not everything posted here is deadly serious.  

Dude, kiss my ass. I said this was a fun game and I wanted to play. You basically said you don't want to play. You didn't have to do that. You could just not play. You're being a dick.

No I thought I'd play too.  I'm allowed.  I thought it'd be a fun game to imagine a hypothetical fictional deity with a sense of humour and a penchant for Einstein quotes.  I'm not the one slinging insults around here so I guess whether I'm a dick and/or a stupid fuck is still up for debate.  

For the record, you do need a break.  You used to be a lot less touchy.  

[mah87]

It's been 3months I'm saying the truth! It's crashing!! PERMABULL ARE SO DUMB THAT THEY STILL THINK IT'S TROLLING! EVEN AFTER MY PREDICTION WERE RIGHT !! WTF! much denial, better to ignore me...

[dreamspark]

The bears really are struggling at the moment, every attempted dump is met with buying meaning the buyers are there just not jumping on the train prematurely but quietly accumalating from all the panickers and pigs.

[billyjoeallen]

I just though of a way a whale can make relatively risk-free profit: Take out a margin short position at the same time you dump. Cover the short when the price drops and lock in your profit. Then buy the coins back. You could do it the same way going up with tons of fiat.

It's easy to imagine these things.  I challenge you to actually achieve them.

Dumping means you are losing value with each bitcoin sold, while covering means that you are losing value with each bitcoin bought, as the market moves against you.  You're lucky if the whole operation is a wash.

Self-dealing in an illiquid market, waiting for alien liquidity to come in, then seizing it, it probably the most straightforward manipulation which can work reliably.  The manipulation is accomplished with relatively few coins.  The profit is gained in a single high volume swoop.  Then you relinquish control of the market, let it stabilize, and try again.

There are low volume days when most of the other whales are asleep or away when you could do it will very little risk. I'm not a whale, but even I chopped the head off that sucker's rally three days ago with out even using using much of my trading stash, let alone cold storage. I just wished I had trusted myself more and dumped everything.

The $710 whale was alien liquidity too, just on the fiat side. Who on this thread has the ability to quickly take advantage of a major BTC dump? Who has the fiat besides me? Nobody except TERA that I know of, and we're not whales. Most of the clowns here buy BTC the same hour their fiat hit's the exchange. They have the patience of a teenage boy fucking in the back seat. Put in your bids and let the sellers come to you. They will come.

[Dalmar]

Bitfinex passes proof of solvency audit:

https://bitcointalk.org/index.php?topic=560457.0

[Adrian-x]

Crazy to think paper in your wallet can be worth anything, don't even have to go look for it, its printed...  The world is so wacky.

Yes,paper  money  are the sign of value, of work.
For example you work as engineer and design new car. You get paid. This is the reward for you work.
You  go to the supermarket and buy some bread.  The money you pay  serve as the reward for  farmers, driver, workers at the  market, tax etc.
The paper money DO have real value, so to say the real Proof of Work;)

In comparison  to BTC, which is some real random numbers. So everyone  can wank on sofa while mining  "money". That would contribute so much to our society....
Why work at some hard and dirty jon, if you can buy yourself a rig, and do nothing.

This troll is not being paid  

Replace paper money in your stagnant with fiat created by decree of TPTB, and you realize there isn't enough paper to print all the money they created. Then you realize fiat is more plentiful than the shells you fear.

Jobs like the one you describe are to insure growth in the economy, specialization and create a distraction to minimize understand of the digital fiat you work so hard to get.

Edit : the rig doesn't do nothing it ensures only 21 million Bitcoin ever are created. It ensures your understanding of money having value remains true.

[jonoiv]

https://bitcoinfoundation.org/blog/?p=677

Gavin stepping down as lead dev... game over man, game over. Single digits by Friday.

So he's thrown in the towel, but tries to make it look planned!

[p0peji]

https://bitcoinfoundation.org/blog/?p=677

Gavin stepping down as lead dev... game over man, game over. Single digits by Friday.

So he's thrown in the towel, but tries to make it look planned!

No wait you have to put it in perma-bull words

He, almost had me for a second.

Thanks for the link, though. This is (long term) pretty good news: Gavin is vastly overqualified as a glorified coding monkey, so him taking a more 'abstract' stance on Bitcoin development is long overdue, imo.

 

[chromosoma]

Crazy to think paper in your wallet can be worth anything, don't even have to go look for it, its printed...  The world is so wacky.

Yes,paper  money  are the sign of value, of work.
For example you work as engineer and design new car. You get paid. This is the reward for you work.
You  go to the supermarket and buy some bread.  The money you pay  serve as the reward for  farmers, driver, workers at the  market, tax etc.
The paper money DO have real value, so to say the real Proof of Work;)

In comparison  to BTC, which is some real random numbers. So everyone  can wank on sofa while mining  "money". That would contribute so much to our society....
Why work at some hard and dirty jon, if you can buy yourself a rig, and do nothing.

This troll is not being paid  

Replace paper money in your stagnant with fiat created by decree of TPTB, and you realize there isn't enough paper to print all the money they created. Then you realize fiat is more plentiful than the shells you fear.

Jobs like the one you describe are to insure growth in the economy, specialization and create a distraction to minimize understand of the digital fiat you work so hard to get.

Yes, debts, credits etc. There are much more money exist then people ever earned. But still paper money   is a good motivation for peopel to do something to sociaty.  Why  clean streets, why  do some dirty job if you can just mine coins? Why designing a car or a spaceship , if you can buy BTC-RIG and stay at home.
The work should be done by humans, not ASICS...

[minerpumpkin]

Nothing happening over the weekend. Then a minor, but noticeable drop and the market is still quite stable. Doesn't look like everyone's struck by fear...

[macsga]

https://bitcoinfoundation.org/blog/?p=677

Gavin stepping down as lead dev... game over man, game over. Single digits by Friday.

He, almost had me for a second.

Thanks for the link, though. This is (long term) pretty good news: Gavin is vastly overqualified as a glorified coding monkey, so him taking a more 'abstract' stance on Bitcoin development is long overdue, imo.

WHAT?!?!?!
VLADIMIR PUTIN HEAD PROGRAMMER OF BTICONI?!!!!!1

HODL!!!!!!1

[Dalmar]

^ His last name is Dutch, doesn't appear to be a Russian.

[KFR]

Wladimir van der Laan has been responsible for much of the good work recently.  I suspect many here that also keep a close eye on the Bitcoin github community would back me up on this.  Makes sense for Gavin to take a more aerial view.  IMHO this is a very positive move. 

[roslinpl]

Crazy things going on I see but price is good to buy some!
or to hodl ... or to just spend and buy something nice from bitcoins, fuc* the price

[chromosoma]

Nothing happening over the weekend. Then a minor, but noticeable drop and the market is still quite stable. Doesn't look like everyone's struck by fear...

Stable? on what part of this chart  the market is stable?

[p0peji]

Nothing happening over the weekend. Then a minor, but noticeable drop and the market is still quite stable. Doesn't look like everyone's struck by fear...

Stable? on what part of this chart  the market is stable?

Actually going down for a long time is very positive, this means that whatever bitcoins I have left to sell are now worth less USD and I hate USD. Gogogoggog Bitcoin.

[Richy_T]

I like how they have GWB on the left (our right) and JFK on the right.

TBH, I have problems with where Lincoln is.