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

[octaft]

I notice chessnut hasn't posted in a while. Hey chessnut, now you've got your bearish sentiment.

You havent been looking closely enough. I wasnt surprised that we broke 400. Im a bull as always.

EDIT. I was short at 440 after the news release.... Im a day trader and a permabull. works for me...

Well, if you're a sentiment trader, this definitely ain't the worst time to be buying.

[shmadz]

Mining is no big deal issue. Half of all miners loose money. The difficulty will simply drop.  It's happened before.

No! Why should the hashrate drop? Because they want to lose even more money?

Successful miners mine at a loss 90% of the time. That last 10% of the time, they make 20X% profits.  That's the way it works. It's the long game. The smart ones lock in operating expenses for years or donate to the Cause knowingly. The WANT difficulty to rise to the point that only they can continue to mine at all, much less mine profitably. Then they have cornered the market. It's not different incentive-wise to me wanting to die with the most coins.

Personally, when I wear my miner hat, I do not consider the fiat price of bitcoin at all. I consider mining as my second job, and I concern myself only with acquiring more coins. Those coins I expect to be my retirement fund.

(I must admit that I did not always feel this way, and sold more coins at sub ten dollar prices than I care to think about. My philosophy at that time was that I had to pay off my investment, $2600 for 4 7970's - sold at least 3 or 4 hundred coins just to pay those off. Since ASICs all my hardware purchases have been denominated in bitcoin. When I make a decision whether to buy new equipment or not, it is based solely on the amount of bitcoin the unit will cost, and the amount of bitcoin I expect it to mine, within a reasonable amount of time.)

Only when I wear my speculation dunce-cap do I worry about price.

[chessnut]

hmm why did everyone go quiet suddenly? was 13 posts a second  a few minutes ago.

[chessnut]

hmm looking at the order books on huobi..... it's an easy ride up to 2500...

[chessnut]

seriously, is this a ddos attack?

say something, somebody, anybody!!

[sonofliberty]

seriously, is this a ddos attack?

say something, somebody, anybody!!

No waaay.

[TeeBone]

seriously, is this a ddos attack?

say something, somebody, anybody!!

Please stop giving 'advice' to people, you've caused enough damage to their pockets.

[ChartBuddy]

Explanation

[podyx]

it seems that the buying side is exhausted

I don't get it

[jonoiv]

hmm looking at the order books on huobi..... it's an easy ride up to 2500...

The whole thing feels engineered. this dump and the way it happened I mean. 

Bulls look like they are taking back control.  

[octaft]

seriously, is this a ddos attack?

say something, somebody, anybody!!

Please stop giving 'advice' to people, you've caused enough damage to their pockets.

I understand you're being clever, but it's not like he held a gun to their heads and forced them to take his advice.

[chessnut]

seriously, is this a ddos attack?

say something, somebody, anybody!!

Please stop giving 'advice' to people, you've caused enough damage to their pockets.

Ive never given anybody advice. ever. I make propositions and discuss. seriously, somebody who comes to 'the wall observer' wishing to gain some fundamental grounding has only mislead themselves.

and please I mean that sincerely. to think somebody might have impaled themselves on what I say hurts me deeply. Day trading is a ruthess, ruthless profession.

[Mervyn_Pumpkinhead]

it seems that the buying side is exhausted

I don't get it

I really believe that you don't.

[TeeBone]

seriously, is this a ddos attack?

say something, somebody, anybody!!

Please stop giving 'advice' to people, you've caused enough damage to their pockets.

I understand you're being clever, but it's not like he held a gun to their heads and forced them to take his advice.

He said say something, so i broke his balls a bit.

[hdbuck]

sharks are out for blood. and monayyy

[jonoiv]

Deffo the bottom now...

[CoinDox]

Balls to the wall - Im scalping the day. long at 355.
dont forget it.

+1. Yep... those prices are good!! Went all in at 360$  

Ya, I don't know why you did a +1... He is scalping and probably will be out at 385, while you seem like you think BTC will recover back and are "all-in", which at this point is as risky as telling your boss you are the top poster on /r workgonewild...

[fotosonics]

Would be quite the signal if the entire Bitcoin community bought back in at...

[chessnut]

seriously, is this a ddos attack?

say something, somebody, anybody!!

I think most of us are staring intently at the Huobi order book to see if those big asks are exhausted yet.  It's quite a crucial moment.

Thats what I was doing, I was a 800 BTC sell order go, not too many left to sell. 2500 is vulnerable right now.

[jonoiv]

Where are the Choo Choo Train pics, Bulls...!?   c'mon!