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

[600watt]

Ponzi is by definition a crime. telling people to hold is no crime. that is far fetched...

well, when you think about it...until the last coin is mined, btc needs constant inflow of cash to remain stable.

or people holding.

but it is still no crime. i told my landlord about bitcoin as an investment because i believed it was a good investment. she invested 12.5 k € in may 2013 and sold above 1000 beginning of december, profiting € 100 k .  boy, i feel so guilty.

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[mladen00]

Explanation

Good price! I am pretty sure that it will go only up right from now :-)

I think this is bottom, ground value for Bitcoin

next week will be a stagnation week and then up

slow till summer and then catapulting in July

[JayJuanGee]

Ponzi is by definition a crime. telling people to hold is no crime. that is far fetched...

well, when you think about it...until the last coin is mined, btc needs constant inflow of cash to remain stable.

or people holding.

More crazy talk... to try to attempt to justify non-sense.. and probably I should NOT bite.. but o.k.... a nibble.. ok.. . 

I think that there is a built in expectation with bitcoin that as time passes, more and more people will be using bitcoin and more and more developments will create demands for bitcoin... .. in that sense demand for bitcoin is likely to far outpace the increased supply.  Otherwise if bitcoin were to stay stagnant in its number of users.. then it would NOT increase in value or price...   I would NOT call that something that bitcoin "needs." B/c bitcoin could give a fuck about whether it is $2 per BTC or $2 million per BTC.. so yes, if it is only being used among 1,000 "criminals" in the underground, then who knows, the price may be a bit lower than if it expands into widespread adoptions.

[dreamspark]

well, when you think about it...until the last coin is mined, btc needs constant inflow of cash to remain stable.

or people holding.

thats how the US dollar works lol. but really? I think professionals would manage liquidity for profit and we would have no problem keeping a turnover of bitcoins.

the US dollar is partly stable because most oil reserves are denominated in USD. if you want to buy and sell oil, you need to buy and sell USD. This is the buffer.

I wish that was true for bitcoin....... maybe bitcoin will take on a massive commodity market, like alpaca socks.

The difference is that Bitcoin itself is useful and unique and in all fairness is taking on a more comodity like being than a currency at the moment anyway.

[KFR]

I tried to find recent news from China by Googling  "04月09日" "比特币" and using Google Translate.  I cannot tell for sure, but it seems that they are still uncertain about the bank account closure on April 15; no denial, no cofirmation from the PBoC.

However MtGOX is still regularly mentioned in the Chinese bitcoin news.  It seems that the Central Bank of Japan too declared that bitcoin is not a currency.  (But please check, I may have misunderstood, or the news may be old.)

http://www.btc798.com/article-3526-1.html

Huobi making like the Internet or Bitcoin itself and routing around the damage?

[tarmi]

Ponzi is by definition a crime. telling people to hold is no crime. that is far fetched...

well, when you think about it...until the last coin is mined, btc needs constant inflow of cash to remain stable.

or people holding.

More crazy talk... to try to attempt to justify non-sense.. and probably I should NOT bite.. but o.k.... a nibble.. ok.. .  

I think that there is a built in expectation with bitcoin that as time passes, more and more people will be using bitcoin and more and more developments will create demands for bitcoin... .. in that sense demand for bitcoin is likely to far outpace the increased supply.  Otherwise if bitcoin were to stay stagnant in its number of users.. then it would NOT increase in value or price...   I would NOT call that something that bitcoin "needs." B/c bitcoin could give a fuck about whether it is $2 per BTC or $2 million per BTC.. so yes, if it is only being used among 1,000 "criminals" in the underground, then who knows, the price may be a bit lower than if it expands into widespread adoptions.

exactly what I said. new money means price will go up. no new investors or money - price going down.

holders not holding - > crash.

[JayJuanGee]

Explanation

Good price! I am pretty sure that it will go only up right from now :-)

I think this is bottom, ground value for Bitcoin

next week will be a stagnation week and then up

slow till summer and then catapulting in July

Maybe you are correct? 

Maybe stable through the weekend..? though sometimes it is hypothesized that BTC prices go up a little  on Thursdays and then down on Saturdays and then up on Sundays.. but maybe we will NOT get any kind of meaningful price movement until after 4/15 comes and goes? 

Maybe I will buy a few more BTC in the next few days.. though it may be o.k. to wait until Saturday.. but that may only amount to a $5 to $10 per BTC discount at most (and such a discount is NOT set in stone either)... which even if there is a $5-$10 discount in the whole scheme of things, is NOT a big price difference.. 1-2% 

I am inclined to buy a few more in order to up my holdings a little bit and to bring down my average price per BTC a little bit.. but of course I would like to buy at the lowest reasonably foreseeable price, if possible.   

[dreamspark]

exactly what I said. new money means price will go up. no new investors or money - price going down.

holders not holding - > crash.

In all fairness those things arent mutually exclusive attributors to a crash

No new investors != price going down.

No new investors + hodlers not holding = price going down.

[JayJuanGee]

Ponzi is by definition a crime. telling people to hold is no crime. that is far fetched...

well, when you think about it...until the last coin is mined, btc needs constant inflow of cash to remain stable.

or people holding.

More crazy talk... to try to attempt to justify non-sense.. and probably I should NOT bite.. but o.k.... a nibble.. ok.. .  

I think that there is a built in expectation with bitcoin that as time passes, more and more people will be using bitcoin and more and more developments will create demands for bitcoin... .. in that sense demand for bitcoin is likely to far outpace the increased supply.  Otherwise if bitcoin were to stay stagnant in its number of users.. then it would NOT increase in value or price...   I would NOT call that something that bitcoin "needs." B/c bitcoin could give a fuck about whether it is $2 per BTC or $2 million per BTC.. so yes, if it is only being used among 1,000 "criminals" in the underground, then who knows, the price may be a bit lower than if it expands into widespread adoptions.

exactly what I said. new money means price will go up. no new investors or money - price going down.

holders not holding - > crash.

Maybe we do NOT really disagree, then?   

I would NOT really characterize the situation as a "crash," though, and I tend to think that number of people coming in continues to be larger than the number exiting... sure those kind of numbers are going to fluctuate from week to week, but overall, bitcoin is probably continuing to expand its user base far beyond supply of bitcoin... possibly, we could get some dropping of price over the next several months into the lower three hundreds... but I would hardly dramatize that into a crash, even if it were to happen.. which I am having my doubts about that, too... seems that we are likely going to be going up soon... but maybe this stagnation and even some additional decline will last a few more months.. a couple of scenarios.. that will likely cause me to continue to HODL and BUY... and NOT inclined to SELL at these prices, unless I replace soon thereafter.

[mah87]

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[p0peji]

I tried to find recent news from China by Googling  "04月09日" "比特币" and using Google Translate.  I cannot tell for sure, but it seems that they are still uncertain about the bank account closure on April 15; no denial, no cofirmation from the PBoC.

However MtGOX is still regularly mentioned in the Chinese bitcoin news.  It seems that the Central Bank of Japan too declared that bitcoin is not a currency.  (But please check, I may have misunderstood, or the news may be old.)

http://www.btc798.com/article-3526-1.html

Huobi making like the Internet or Bitcoin itself and routing around the damage?

So basically they are going overseas because the 15-04 ban is real? (This is a genuine question as the translation is hard to understand.)

[Cassius]

What evidence do we have that bitcoins are being bought up off-exchange? Obviously Second Market. Bitcoin days destroyed? Anecdote? Other?

[minerpumpkin]

Ha... I think we're breaking out of the triangle horizontally right now... Is this unprecedented?

[chessnut]

Ha... I think we're breaking out of the triangle horizontally right now... Is this unprecedented?

... I dont see it. very calm right now.

[ChartBuddy]

Explanation

[phatsphere]

Ha... I think we're breaking out of the triangle horizontally right now... Is this unprecedented?

this just means that your triangle-lines are wrong ... you have to re-draw the triangle.

[dreamspark]

Ha... I think we're breaking out of the triangle horizontally right now... Is this unprecedented?

Maybe we'll just go horizontal forever 

[roslinpl]

Explanation

it is not far from 458 will we see it soon?

[btc6000]

....the US dollar is partly stable because most oil reserves are denominated in USD. if you want to buy and sell oil, you need to buy and sell USD. This is the buffer.

It won't be that way for much longer though.

The head of VTB Bank has urged Russia to start transitioning to ruble payments with all its trading partners, including China and Western Europe, adding that export companies should lead the way in adopting the change.

http://rt.com/business/russia-payments-rubles-trade-977/

[chessnut]

well I've said before, I think if china goes to sleep tonight and nothing much is happening, we will rally when USA wakes up. It has happened many times over the last week.

...interesting stuff btc6000.