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

[magicmexican]

I think I am getting greedy, I just sent some of my savings to Bitstamp, if the price will drop more I will risk and add some more coins to my stash, I have mixed feelings about this as I don't know what is the point of growing my stash at this point.

you can always wire fiat to btc-e and put some orders @100$ hoping someone would dump to this level again

[Guinpen]

Newbie question again: what is this CCMF meme I keep hearing about?

Choo Choo Mother Fucker posted over general pictures of trains being badass 

Got it. Something like:
https://i.imgur.com/NpOsPPA.jpg

[Davyd05]

give me an example of a permabull who shouts that we're going to a 1000 tomorrow everyday, I seem to be missing thier posts but don't deny that it maybe happening. Cause I have to read from bears were going to double digits on the daily..

There were plenty of them during the run up. I see it as the uptrend was the bulls turn, and now it's the bears turn, so I don't complain about either, really.

yeah but the bear trolls never stop...Mascga comes as close to a form of permabull ccmf troll lol, EDIT: Guinpen is now on the bull troll ignore lol

on top of that during the run up bulls were pretty fucking accurate with their claims. Permabulls faced a hard time with initial China policy changes and goxxing too bad they bashed Rpiella in to his own thread, but I do not doubt we entered the bear market way back in dec. and we probably don't exit till the summer starts...so late may early June on the optimistic side.

however outside factors like the economic issues the world faces can spurr a bitcoin rally, China has kept everyone at arms distance trying to gather ( from the perspective of someone who is about to buy-in for the first time) if this is the bottom of the bear market. We've seen spurts IMO of people deciding to hop back in but no urgency cause the bears have tons of coins they picked up on panic sells, the volume bars show this on most of the flash dips. However coupled with the fact bulls are turning their day trading stashes in fiat to buy back in lower we're going to find the real bottom relatively soon I hope.

[600watt]

can someone please take my hand and tell me it will all be good... ,

[dreamspark]

I think I am getting greedy, I just sent some of my savings to Bitstamp, if the price will drop more I will risk and add some more coins to my stash, I have mixed feelings about this as I don't know what is the point of growing my stash at this point.

Theres always point in growing your stash, Ive sent more fiat to Stamp recently but I've promised myself that it is only getting spent if we go ~25% lower, have increased my holdings enough over the last few weeks but can't say no to super cheap coins.

[dreamspark]

Newbie question again: what is this CCMF meme I keep hearing about?

Choo Choo Mother Fucker posted over general pictures of trains being badass 

Got it. Something like:

Just like that but just save it for when we're all feeling abit more bullish

[lemonte]

The market needs a resting period after the china fiasco is finally settled, then good news will actually find fertile ground again

I agree, we've had such a shit 2014 so far.

December - China ban is announced
January - China ban deadline
February - Literally a week after the China ban, Mark and his pals from Gox stop withdrawals with this lasting the whole month until they go bankrupt at the end
March - China 2: The empire strikes back (Part 1) is announced
April - China 2 deadline

It's easy to see why we are dropping and why good news isn't making any difference with this hanging over us.
Next week we should see the China ban play out and someone from Gox visit the USA to appear in court, once that's over and done with this dampening effect will wear off and good news should begin to make a difference again.

[Davyd05]

The market needs a resting period after the china fiasco is finally settled, then good news will actually find fertile ground again

I agree, we've had such a shit 2014 so far.

December - China ban is announced
January - China ban deadline
February - Literally a week after the China ban, Mark and his pals from Gox stop withdrawals with this lasting the whole month until they go bankrupt at the end
March - China 2: The empire strikes back (Part 1) is announced
April - China 2 deadline

It's easy to see why we are dropping and why good news isn't making any difference with this hanging over us.
Next week we should see the China ban play out and someone from Gox visit the USA to appear in court, once that's over and done with this dampening effect will wear off and good news should begin to make a difference again.

right on time for spring   maybe some sun for those in northern climates like myself will encourage positivity lol.

[ShroomsKit]

I bought a few coins. I never bought coins this expensive. Not even close. The last time must've been close to a year ago.
The fact that i now did means we reached the bottom.
Prepare to go up.

[octaft]

give me an example of a permabull who shouts that we're going to a 1000 tomorrow everyday, I seem to be missing thier posts but don't deny that it maybe happening. Cause I have to read from bears were going to double digits on the daily..

There were plenty of them during the run up. I see it as the uptrend was the bulls turn, and now it's the bears turn, so I don't complain about either, really.

yeah but the bear trolls never stop...Mascga comes as close to a form of permabull ccmf troll lol, EDIT: Guinpen is now on the bull troll ignore lol

on top of that during the run up bulls were pretty fucking accurate with their claims. Permabulls faced a hard time with initial China policy changes and goxxing too bad they bashed Rpiella in to his own thread, but I do not doubt we entered the bear market way back in dec. and we probably don't exit till the summer starts...so late may early June on the optimistic side.

however outside factors like the economic issues the world faces can spurr a bitcoin rally, China has kept everyone at arms distance trying to gather ( from the perspective of someone who is about to buy-in for the first time) if this is the bottom of the bear market. We've seen spurts IMO of people deciding to hop back in but no urgency cause the bears have tons of coins they picked up on panic sells, the volume bars show this on most of the flash dips. However coupled with the fact bulls are turning their day trading stashes in fiat to buy back in lower we're going to find the real bottom relatively soon I hope.

During a bubble, anyone screaming "up up up" will be pretty accurate. I recall it being pretty much nonstop with the exception of a couple of guys like ElectricMucus. Pages upon pages, waves upon waves of trains, choo choo, HODL, etc.

Would you even entertain the possibility that this could be either selective memory on your part, or possibly the bear posts are more fresh in your mind?

[magicmexican]

One thing i am somewhat sure about - the deadline will mean nothing, people who are waiting for it to make their move would be left far behind

[surfer43]

I bought a few coins. I never bought coins this expensive. Not even close. The last time must've been close to a year ago.
The fact that i now did means we reached the bottom.
Prepare to go up.

No one can deny this logic.

[fonzie]

I fully support this bull trap, please bounce at least to 432$, thanks. All long profits will be used for additional shorting.

[simmo77]

Newbie question again: what is this CCMF meme I keep hearing about?

Choo Choo Mother Fucker posted over general pictures of trains being badass 

Got it. Something like:

Didn't someone even get some CCMF t-shirts designed and printed?!?


Man that circle-jerk seems like soooooooo long ago now.

[Davyd05]

During a bubble, anyone screaming "up up up" will be pretty accurate. I recall it being pretty much nonstop with the exception of a couple of guys like ElectricMucus. Pages upon pages, waves upon waves of trains, choo choo, HODL, etc.

Would you even entertain the possibility that this could be either selective memory on your part, or possibly the bear posts are more fresh in your mind?

Well it comes back to the debate.. was TA on point or was it China spreading FUD. I am not sure if was Tera OR Rpiella who was trying to explain it was destined to drop pre China announcements I'm willing to admit that China could purely have been a catalyst to a bear market and in combination with gox not a cause for it.

I spread and preach the hodl mentality only for those who aren't trying to day trade and wish to see stability enter bitcoin. It still hugely speculative and probably for years to come and this will makes us inherently vulnerable to pump and dump.

Jorge I believe would describe me as a bag holder, I see myself as someone who is just confident in BTCs long term success.

[ShroomsKit]

I bought a few coins. I never bought coins this expensive. Not even close. The last time must've been close to a year ago.
The fact that i now did means we reached the bottom.
Prepare to go up.

No one can deny this logic.

That's right!
This beats all those lines, mac d's and fibs. Up we go!

[jonoiv]

in 2014, all this bad new has battered BTC into a corner.  But I see the biggest risk not coming from banks and governments, but from other Crypto's.  Other coins will become more attractive to mine, because all that sha256 hash power fells kind of lame when ($9,999) 2TH state of the art asic only makes 0.16 BTC a day, it fells like your being short changed.

Peercoin for example's price is 4.5 times lower than peak prices, so when the uptrend starts agan in the future, it will be more profitable to buy and hold than BTC.  the PoW mining profitability is 88% of BTC now but that overtakes on uptrends, Peercoin also uses sha256 asics and does not suffer from a static coin cap and is in fact mineable without any hardware at all via PoS mining (just leave you wallet open & don't move coins).  PoS is environmentally more sound as well, as only the PoW miners use the asics.   meaning Peercoin investors gain (interest on their investment) as well as a higher percentage shift on an uptrend.  It's also less techy to PoS mine as you need no real experience.  Just open the wallet and wait for the interest to roll in.  

Although It will never take over from BTC anytime soon I see the gap narrowing in 2014.  I will be taking 35% peercoin 35% LTC 30% BTC..  if the ball starts rolling again later this year.    

This year will define crypto, i don't think it's certain in which way or that it will go the same way as previous years.  Peercoin is established and is more advanced than BTC in many ways.  keep your eye on it in 2014.

[adamstgBit]

I guess they were right Thursdays is dump day.

[ChartBuddy]

Explanation

[lemonte]

The market needs a resting period after the china fiasco is finally settled, then good news will actually find fertile ground again

I agree, we've had such a shit 2014 so far.

December - China ban is announced
January - China ban deadline
February - Literally a week after the China ban, Mark and his pals from Gox stop withdrawals with this lasting the whole month until they go bankrupt at the end
March - China 2: The empire strikes back (Part 1) is announced
April - China 2 deadline

It's easy to see why we are dropping and why good news isn't making any difference with this hanging over us.
Next week we should see the China ban play out and someone from Gox visit the USA to appear in court, once that's over and done with this dampening effect will wear off and good news should begin to make a difference again.

True.True.

I can only say that over the last three months I have observed such a dramatic change in the comments below bitcoin related articles in one of Austria's biggest news websites.
In 2013 at least 95% of the comments were people harassing the idea of bitcoin etc, now the comments are 80% pro bitcoin. And there's at least an article about bitcoin every three weeks it seems.

For what it's worth in my surroundings the idea seams to be spreading fast and gaining positive ground. Heck even my grandmother recently asked me if I know anything about this 'virtual money'..

edit: but for now the price seems to not have found it's ground yet and I will remain fiat until this China nonsense is dealt with

100% on the mark! Well in my opinion anyway. I can't read charts very well so my TA is pretty bad and I rely on looking at what others have written and coming to a conclusion myself based on what I can assess via sentiment which I can read fairly well.

The day my Mum rang me asking me what a "Mt Gox was and if they had stolen all my bitcoins" was the day I realised that BTC is beginning to reach the masses. Everytime I go and see my family it pops up in conversation now and members of my family who work in banking (not high up, or investment banking, just regular tellers) are becoming more and more interested and even tell me little bits about mentions from within their places of work etc.

I am by no means bearish at the minute, and believe we have a way to go until we do see the bottom as if you look on Twitter, Reddit etc there are still a lot of questions rather than statements/ news stories with proper sources and we have no clue as to how next week, or even the weekend are going to play out, but anyone that thinks we are going to be staying at the bottom for a long time is deluded in my opinion.