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

[MahaRamana]

its about convenience.
not having to store dozen gigs of blockchain on your ssd. or keeping it in sync over a tiny limited data plan

Well if your willing to take that risk for convenience thats up to you, unfortunately securing your wealth isn't a matter of convenience. Its more convenient for me to store my cash under my bed but its far riskier than storing it in a bank even though its less convenient.

If the block chain is a problem use an SPV wallet. 18gb is nothing now days.

I control the private keys of my blockchain.info hot wallet and i don't have a big part of my bitcoins in this wallet. But i am not sure it is the case of 1.5 million users. I am sure a lot of them are not able to get their bitcoins if the site is down.

But thats their problem. What I said still stands, if your going to trust your coins to a third party know the risk you are taking and if you don't control the private keys yourself then your doing it wrong. The whole premise of Bitcoin is not trusting third parties. If you trust a third party whatever happens is your fault. It sounds harsh but learn to use what we've been given correctly and there are no problems. I mean its not like the site went black for days, it was an hour or so and people are freaking out. If they are managing their risk correctly they would not be freaking out. Unfortunately people are going to continue to get burnt until they learn.

You can use a third party like bitgo.com to secure your coins and nothing can happen to them, even if bitgo disappears. Convenience meets with security.

[ChartBuddy]

Explanation

[fonzie]

580 is the new 150$ , Upcoming China Ban is the new Silkroad Flash Crash which will bring us down to 280$. Recovery won´t happen this time as Willy no longer works for the Bitcoin community.

I really feel sorry for guys like you, wasting your life on forums talking about a "dead horse".... don't you have anything better to do? maybe a wife to talk with or kids to play with? or simply a friend ? your life must sucks... I cant even imagine.

Lolololol, yeah right, kids would really upgrade my life. I prefer drugs, sunshine, reading, living alone, 2 girlfriends, no employment, travelling and spending money for useless things as well as trolling @ bitcointalk.org forum for fun whenever i want. Thanks for your concern. 

[dreamspark]

You can use a third party like bitgo.com to secure your coins and nothing can happen to them, even if bitgo disappears. Convenience meets with security.

Yep but people aren't here flapping about bitgo are they

Multisig addresses will become the norm in the future but Im waiting for a fully open sourced implementation to trust it.

[oda.krell]

Amusing all the people panicking over a retracement and asking about 'fundamental reason' etc. The RSI was so high a blind man could have seen it.

totally agree...was sitting on 100 ..what more could it have done 120+ ??

Not that the retracement came completely unexpected (although I was rather surprised by the magnitude of the drop this morning), but:

What time frame are you talking about?

Highest the daily RSI went was 83, to my knowledge.

Or are your talking about stochastic RSI? Then a value of 100 is not exactly a uncommon... we went up from there often enough (though probably not right after a crushing, half year long bear market)


Now, RSI divergence was a pretty good way to see this drop coming... too bad I only noticed it after the fact

[cbeast]

We're just above the Rule of thirds and just below the Yuan magic number 4000 in a tight superstitious zone. China is slightly bearish and the West is slightly bullish. Summer is coming and usually that means good announcements.

[ihaveaquestion]

You can use a third party like bitgo.com to secure your coins and nothing can happen to them, even if bitgo disappears. Convenience meets with security.

Yep but people aren't here flapping about bitgo are they

Multisig addresses will become the norm in the future but Im waiting for a fully open sourced implementation to trust it.

Already happened on Armory http://vimeo.com/96983886

[roslinpl]

We're just above the Rule of thirds and just below the Yuan magic number 4000 in a tight superstitious zone. China is slightly bearish and the West is slightly bullish. Summer is coming and usually that means good announcements.

I agree that summer should bring up a lot more ++ than last half of  a year together.

Yuan 4000 is something to beat up easily and they cannot keep it up under forever... My predictions are mostly not really good but I think that until the weekend we will be above 4000.

Kind regards!

[dreamspark]

You can use a third party like bitgo.com to secure your coins and nothing can happen to them, even if bitgo disappears. Convenience meets with security.

Yep but people aren't here flapping about bitgo are they

Multisig addresses will become the norm in the future but Im waiting for a fully open sourced implementation to trust it.

Already happened on Armory http://vimeo.com/96983886

lol I know Armory, it controls one of my luke warm wallets, we're talking about online wallets.

[ihaveaquestion]

You can use a third party like bitgo.com to secure your coins and nothing can happen to them, even if bitgo disappears. Convenience meets with security.

Yep but people aren't here flapping about bitgo are they

Multisig addresses will become the norm in the future but Im waiting for a fully open sourced implementation to trust it.

Already happened on Armory http://vimeo.com/96983886

lol I know Armory, it controls one of my luke warm wallets, we're talking about online wallets.

My bad

[Xer0]

If the block chain is a problem use an SPV wallet. 18gb is nothing now days.

on hard drives maybe, but not ssds
and the trend is going inevitably to tablets/convertibles with fixed not user replaceable or expandable memory, every extra gig stll expensive as hell

so unless you host a 24/7 running mini server for you wallet at home,
you hardly can avoid using spv or partially cloud hosted wallets

especially on mobile - most countries offer only small mobile data plans

at least for our “pocket change“ wallet we need this third party services

[ChartBuddy]

Explanation

[kodtycoon]

i told ye bout this at 7000 satoshis.. bet none of ye listened!

https://bitcoinwisdom.com/markets/bter/nxtbtc

[akujin]

i told ye bout this at 7000 satoshis.. bet none of ye listened!

https://bitcoinwisdom.com/markets/bter/nxtbtc

Looks like it's about to dive 

[dreamspark]

on hard drives maybe, but not ssds
and the trend is going inevitably to tablets/convertibles with fixed not user replaceable or expandable memory, every extra gig stll expensive as hell

$.60/GB is expensive as hell? Thats $12 to store the current block chain. Your telling me that your financial security isn't worth $12?

The tablets issue is more of a point but then use an SPV wallet! An spv wallet is secure and no third party trust is required (yes they can modify the blockchain, not sure why they would and it would quickly be noticed but you still control all the keys so they can't steal your funds).

Convenience and security in the Bitcoin world are pretty much mutually exclusive so its up to you which one you pick. One guarantees that your funds can not be stolen but may be less practical and one may be more convenient but exposes you to the risk of being robbed. I know which one people who still have all their coins choose.

so unless you host a 24/7 running mini server for you wallet at home,
you hardly can avoid using spv or partially cloud hosted wallets

especially on mobile - most countries offer only small mobile data plans

Again then use an spv, infinitely better than a service that holds your keys or even worse holds your funds in the same place as everyone elses.

I'm not sure what your point with mobile data plans is. If your using an spv its not more of an issue than general data usage, unless your suggesting people are downloading the blockchain on their phone  

at least for our “pocket change“ wallet we need this third party services

Why do you ? What is wrong with thin clients that is better on a hosted service ?

I think your really conflating the points that were being discussed. Pocket change was not what the original conversation was about, it was about using blockchain.info as your main wallet or storing significant funds on it.

Pocket change is an amount that shouldn't bring people out flapping and hysterical about their funds because a site went down for an hour, thats the issue. Its obvious that there are many people who store all their coins on blockchain.info same as with Gox, my point is that if your going to do that don't be surprised if your funds disappear.  

[kodtycoon]

i told ye bout this at 7000 satoshis.. bet none of ye listened!

https://bitcoinwisdom.com/markets/bter/nxtbtc

Looks like it's about to dive  

not a hope!!!! im not saying that on no basis.. if you dont know why its rising then that explains your skepticism! (the main part anyway)

what would you call a dive?

[YipYip]

Amusing all the people panicking over a retracement and asking about 'fundamental reason' etc. The RSI was so high a blind man could have seen it.

totally agree...was sitting on 100 ..what more could it have done 120+ ??

Not that the retracement came completely unexpected (although I was rather surprised by the magnitude of the drop this morning), but:

What time frame are you talking about?

Highest the daily RSI went was 83, to my knowledge.

Or are your talking about stochastic RSI? Then a value of 100 is not exactly a uncommon... we went up from there often enough (though probably not right after a crushing, half year long bear market)


Now, RSI divergence was a pretty good way to see this drop coming... too bad I only noticed it after the fact

Goto the daily... 83 is pretty high in my book..i must admit my new love is the old school RSI for crypto @ the moment ...get teh right time period and its been a very good leading IMHO

Coming up from under the 30 is a BUY ...working really well @ the moment .....going down through the 70 for teh sell (not so much in a uptrend market @ the moment  )

[akujin]

i told ye bout this at 7000 satoshis.. bet none of ye listened!

https://bitcoinwisdom.com/markets/bter/nxtbtc

Looks like it's about to dive  

not a hope!!!! im not saying that on no basis.. if you dont know why its rising then that explains your skepticism! (the main part anyway)

what would you call a dive?

LOL! your 12h candle just turned red right now... You better watch it closely 

[kodtycoon]

i told ye bout this at 7000 satoshis.. bet none of ye listened!

https://bitcoinwisdom.com/markets/bter/nxtbtc

Looks like it's about to dive  

not a hope!!!! im not saying that on no basis.. if you dont know why its rising then that explains your skepticism! (the main part anyway)

what would you call a dive?

LOL! your 12h candle just turned red right now... You better watch it closely 

im not trading the ups and downs... got other ways to make more nxt! allot more nxt! :L (i aint close to a pro trader!)

[wachtwoord]

Just use the original client for pocket change. Anyone is the 1st or 2nd wirld must have enough hard drive space to store the blockchain. If not, run to the store right now.