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

[BRADLEYPLOOF]

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[JayJuanGee]

Nice! GoCoin should be more active... Coinbase and Bitbay shouldn't have monopol.

I thought that Circle would soon be coming into this space.... YET, many of us seem to be WAITING, patiently.... or somewhat patiently.    

[aminorex]

No rally?

Monkey thinks the situation just turned bearish on multiple time scales.  He's targeting 595 support for now.

[JayJuanGee]

What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?

It's a poker term long before "penny stocks." It means you lack confidence in you ability to play.

So it's a profit making game and not the future of money?

Is money not about profit?

Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits.

I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings....

That is NOT why you were attacked.  You were attacked b/c you failed to articulate any plan that made sense to anyone beyond yourself.. and even then, NOT clear if it made sense.

https://bitcointalk.org/index.php?topic=656657.0

I've attempted to make a quick response within that thread, and to also respond to the poll to the extent any of the answers come close to what is really happening here.

In essence, the mere fact that you spending a lot of time publicly discussing this matter in various threads seems to demonstrate that you do NOT really know the fuck what you are talking about or even that you have adequately analyzed or understood your own position nor your plan.

 I am NOT sure whether you have bad intents, so in that regard, I feel sorry for some of your ignorance... and lack of recognition of your own inabilities to know when to stop and when you likely need to spend some private time figuring out what you are doing and why you are doing it in order that you can explain.. to the extent that you end up continuing to post these kinds of matters in public threads....

Otherwise, you decisions regarding your investments or lack thereof in BTC or in other crypto-currencies are your own private concerns, and probably it would be better for everyone, including yourself, for you to keep your seemingly stupid-ass ill conceived and inadequately contemplated ideas to yourself... until they are better formulated.    That's just my sense of the situation, at the moment, so take it for what it is worth.. and if you are NOT ready, willing or able to understand or to accept my thoughts, then NO problem to just let my comments pass.

you didn't answer to a single argument... you just choose a personal attack path.. you are a joke.

To me, it seems somewhat ironic that i attempt to go through considerable lengths to explain the content of my posts and the various reasons for making negative comments regarding the contents of your various posts.  Your common rebuttal is that I merely am personally attacking you, which I believe I am striving NOT to do.  In any event, you seem to have some difficulties with engaging in logic and/or communications.  Some of the contents of this debate between us is likely progressing beyond anyone's ability to follow it.  I certainly am having my own troubles following it.  ONE of my main points, that i recall, is that you chose to sell 1/2 of your bitcoin stash NOW and to brag about your decision to be able to live off of your sale proceeds for two years, but through a multitude of postings, you have failed to explain your decision to be applicable to anyone beyond yourself, and why such a decision is NOT merely ludicrous.  And, instead, you suggest that I am NOT responding to some of your nonsense stream of consciousness content.

[faalhaas]

so fucking boring.
Weekend rally or not ?
sjuuuuus

[JayJuanGee]

Don't post very often guys, but been around for a while, got most of my coins in the 80 -120 bracket. Because of that i have pretty much just hodl through a few of the ups and downs and never had to worry about losing money cause it has rarely dropped below that whilst i have owned. Knew it was a bubble late last year but just didnt want to sell at gox where i had an account, and was just too lazy to set up stamp, so i have just kept hodling though the up and down.

Just wanted to say it feels a lot like it did when it was in the 120 -150 range for a while, before exploding to 1000. Occasionally i have doubts cause my coins are worth a reasonable chunk of change and it would suck to lose my bitcoin nest egg, but i have to say, from a rational perspective, bitcoin has lot more going for it now than it did 12 months ago.

Trade if you think you are smart AND lucky. Otherwise buy, hold, and look forward to the future!!

When did you realize that you needed to remove your BTC from GOX, and when did you finally act upon that realization and remove your BTC from GOX?  LOTS of NON-Traders and HODLRs got stuck with their coins on GOX b/c they waited to long to move them.

[AceWallen]

we're still in a bullish consolidation, flag formation from the last leg up. if BFX breaks 600 to the downside, i will reconsider, but i think we should head up to 630-650 in the next couple days.

[JayJuanGee]

So, when is someone going to buy an island, start a farm, power plant, ISP, and waste water treatment facility that does everything in bitcoin?  Then, we can say F*** fiat, lets price everything in BTC.  I'd rather pay a set BTC price every freakin' time then buy a couple pizzas worth a few million dollars a couple years later. 

Any takers?  That'd be the easiest way to start a TRUE BTC economy that's not dependent on the Fiat->BTC relationship.  Granted, it would probably take a little while to get going, but it would be awesome...

I understand Risto's Bitcoin Supernode Hideaway is intended to be all Bitcoin. I'm not sure what his timeline on getting that up and operational is.

2021, I think.

[Richy_T]

I see your point but government cares if the public cares. Like when Gordon Brown sold off Britain's gold. I just had these thoughts when I first heard of the auction, but the amount of BTC is not that high and also the auction style does not really promote this scenario imo.

Funny thing is, when they came off the gold standard, they effectively stole that gold. Now they're selling it anyway. We're definitely circling the drain.

[Richy_T]

Don't post very often guys, but been around for a while, got most of my coins in the 80 -120 bracket. Because of that i have pretty much just hodl through a few of the ups and downs and never had to worry about losing money cause it has rarely dropped below that whilst i have owned. Knew it was a bubble late last year but just didnt want to sell at gox where i had an account, and was just too lazy to set up stamp, so i have just kept hodling though the up and down.

Just wanted to say it feels a lot like it did when it was in the 120 -150 range for a while, before exploding to 1000. Occasionally i have doubts cause my coins are worth a reasonable chunk of change and it would suck to lose my bitcoin nest egg, but i have to say, from a rational perspective, bitcoin has lot more going for it now than it did 12 months ago.

Trade if you think you are smart AND lucky. Otherwise buy, hold, and look forward to the future!!

When did you realize that you needed to remove your BTC from GOX, and when did you finally act upon that realization and remove your BTC from GOX?  LOTS of NON-Traders and HODLRs got stuck with their coins on GOX b/c they waited to long to move them.

Gox was looking shaky for a long time. Anyone who kept any more than there immediate needs on there was taking unacceptable risks. The Gox premium served to deter some from escaping via Bitcoin and there is some excuse for being caught with your fiat pants down, perhaps but anyone using them for bitcoin storage, well...

[ChartBuddy]

Explanation

[Richy_T]

So, when is someone going to buy an island, start a farm, power plant, ISP, and waste water treatment facility that does everything in bitcoin?  Then, we can say F*** fiat, lets price everything in BTC.  I'd rather pay a set BTC price every freakin' time then buy a couple pizzas worth a few million dollars a couple years later.  

Any takers?  That'd be the easiest way to start a TRUE BTC economy that's not dependent on the Fiat->BTC relationship.  Granted, it would probably take a little while to get going, but it would be awesome...

I understand Risto's Bitcoin Supernode Hideaway is intended to be all Bitcoin. I'm not sure what his timeline on getting that up and operational is.

2021, I think.

That's quite a ways away. If Bitcoin hasn't caught fire by then, it may never. If it does before, someone is likely to eat his lunch. Then again, if his holdings increase in value, he can probably bring the schedule forward significantly and still have first-mover advantage. Though his choice of location may prove to be an issue.

[JayJuanGee]

Hi, greetings from the vast newbie/lurker community.

Would anyone care to speculate or provide a link as to the ramifications of $1 billion being dropped on the market as a long-term buy/hold. I suppose this probably won't happen until Wall Street or some other regulated exchange is able to be used. Just a random, large number I picked, but I'm new to all this and am curious as to how people will react the when/if the next round of big money shows up.

Thanks for your thoughts, ideas, and pictures.

Personally, I doubt that big money, such as $1 billion will be dropped all at once, until maybe the market cap is around $100 billion..

Accordingly, investment chunks will be smaller... and yes, if they prices is going up, then it becomes more easy to drop larger chunks, yet large chunks cause the price to go up too much, so investors with large chunks want to attempt to control the price rises (while they are buying), to the extent that they can.... and maybe once they are mostly in, then they do NOT mind manipulating the prices upwards with smaller amounts...

[JayJuanGee]

We rally now?

NOT yet!!!!   However, the week is coming near closing, and it will be very interesting if that weekly MACD candle closes green (at this point, barely green - yellow as an earlier poster mentioned).

[Oddball1221]

http://puu.sh/9ANTG/c61e02b53e.png

We rally now?

NOT yet!!!!   However, the week is coming near closing, and it will be very interesting if that weekly MACD candle closes green (at this point, barely green - yellow as an earlier poster mentioned).

Why look at the weekly MACD specifically? If you look at other time periods, it seems to be at varying points of the sine curve, (3d).

[CoinHamster]

we're still in a bullish consolidation, flag formation from the last leg up. if BFX breaks 600 to the downside, i will reconsider, but i think we should head up to 630-650 in the next couple days.

1h, 2h, 4h, 6h and 3d are going down  
i hope it will not break $600
it has to stay and rise!
let's pray and see...
 

[ChartBuddy]

Explanation

[Parazyd]

We are not going below 600, not anymore. Time to start up the locomotive.

Daytraders, how much volume do you deal with daily?

[elebit]

We are not going below 600, not anymore. Time to start up the locomotive.

Why do you think that? It's so thin right now ... I have no clue where it will go. If anything, there is a small trickle of new coins for sale.

[oda.krell]

We are not going below 600, not anymore. Time to start up the locomotive.

Daytraders, how much volume do you deal with daily?

Ah, that senseless optimism

But seriously, the last period of major volume  was on June 12, and we went down to 550. If the next swing down (and unless a miracle happens, there will be a swing down in the coming days) doesn't fall below 550, I'd consider that a very reassuring sign.