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

[kireinaha]

weekend crash/long squeeze coming. This isn:t looking good, is it?

[Adrian-x]

Should I sell BTC before US auction of btc begins or should I hold ?

If you cannot decide on your own what to do or whom to follow, then do nothing. Presumably there is a reason that you bought BTC. If it still exists, hold. If it doesn't or never did, sell.

I bought BTC because concept of decentralization appealed to me. I am not in it for profit as I don't hold much BTC.

You are then part of the P2P Fed replacement. For best results and maximum benefit to all participants in this decentralized experiment you should :

Hold (and accumulate) when liquidity is high - price is falling.
Sell when liquidity is low. Price goes up too fast.

For a rough guide on when the price is too high or too low see https://bitcointalk.org/index.php?topic=366214.0 this projection is a little steep but I hope you get the idea.

[JayJuanGee]

There is a timing problem with the 'buy to dump immediately on exchanges' scenario: [ ... ] The buyer has to be cautious with respect to market movement 27th June - 3rd July.

Yes, he must include that forced delay in his estimate of how much money he would get if he got those coins.  It is irrelevant for the optimistic bidder, very important for the pessimistic bidder.

The delay is does NOT make any difference whether a person is optimistic or pessimistic... but it would likely weed out some short term manipulations.  In that respect the delay affects long term versus short term calculations regarding those coins. 

NONETHELESS, i believe one theory is that many of the bidders would likely already hold a large number of coins - and accordingly, their total investment in bitcoin could be enhanced by any kind of manipulative affect from the coin sales... 

[aminorex]

DRK has forked again.

[JayJuanGee]

I am currently pessimistic about the chances of the price ever getting much higher than now

I bet you 1 bitcoin that some time during the lifespan of bitcoin the price will rise above the $580 range.  If this does not happen in the next 5 years, I give you a bitcoin.  Sound fair?

Oh and a sell off before July? This consolidation has bear trap written all over it.

For a variety of reasons, including how you have structured this bet, NO ONE with any brain would take this bet... maybe if you changed the reward to dollars, then possibly, who would want a bitcoin that may have little value in 5 years.

Also, maybe change the amount to $700 or some other more reasonable and higher amount.. $580 is the current floating price, as you know.... within 5 years, many would even bet $1000 or more... as a sure thing in their thinking.

[ChartBuddy]

Explanation

[JayJuanGee]

Jorge will go down in history as one of the most successful trolls to have ever lived. Intelligent people here still don't understand he's a troll.

Is there anyone who ever said Jorge is not a troll

Oda for one.

Sure. And I stand by that. However, I also pointed out how stubborn (and biased) he can be. But if a majority of this community considers what Jorge does 'trolling' then I'd have to conclude they're thinner skinned than I imagined.

What igorr, mah87 or fonzie does can be justifiably called trolling. Jorge is just being obstinate.

I am o.k. with the fact that sometimes Jorge is being obstinate.... Really, I see nothing wrong with that, and being obstinate could be, in many circumstances a public service.  However, it seems that you, Oda, are giving Jorge too much credit b/c sometimes, he is giving misinformation and seeming to do so on purpose.  That is the part that bothers me, and maybe you are o.k. with that or possibly, you just have NOT seen any examples of such purposeful misinformation giving from Jorge.... or you could be blinded by your love for Jorge... 

[bitcoinsrus]

can anyone tell me why its going down? sub 590 (at time of this post)

[JayJuanGee]

Jorge will go down in history as one of the most successful trolls to have ever lived. Intelligent people here still don't understand he's a troll.

Is there anyone who ever said Jorge is not a troll

Oda for one.

I don't think Jorge is a troll, per se -I think he just decided on the thesis for the book he plans to write about The Great Bitcoin Ponzi Scheme long before he showed up here to start doing research - so now he cannot allow himself to be swayed.

Sad because he would probably make more money investing in bitcoin than he is ever likely to make from any such book.

Frequently, people mistakenly believe that others should be motivated by money... which is too simplistic of a framing of motivation(s).

[Cassius]

I am currently pessimistic about the chances of the price ever getting much higher than now

I bet you 1 bitcoin that some time during the lifespan of bitcoin the price will rise above the $580 range.  If this does not happen in the next 5 years, I give you a bitcoin.  Sound fair?

Oh and a sell off before July? This consolidation has bear trap written all over it.

For a variety of reasons, including how you have structured this bet, NO ONE with any brain would take this bet... maybe if you changed the reward to dollars, then possibly, who would want a bitcoin that may have little value in 5 years.

Also, maybe change the amount to $700 or some other more reasonable and higher amount.. $580 is the current floating price, as you know.... within 5 years, many would even bet $1000 or more... as a sure thing in their thinking.

I CAN'T TAKE THIS ANY MORE!! BETWEEN THE LINES, MAN. READ BETWEEN THE LINES. IS IT SO HARD?

[JayJuanGee]

I'm a bear troll myself now, huh? Kind of used inflationary lately. Oh well, better start posting random downtrends while I'm still unignored by a few laggards.

Thanks for postin this, i don´t see us havin a bottom reached yet, and for the first time thinking about sellin my precious Bitcoins.
I couldn´t stand it seeing them going lower again. maybe it´s time to get out of the game! I possibly will buy in again @ around 100-300$
I will NOT enter above! From what i understand about TA and learned in the last weeks, this whole uptrend has been nothing else that another bulltrap on it´s way to the real bottom!
I made the mistake to listen to the false prophets in here.

   JayJuenGee?!

Ohh "Brand new  JayJuenGee"

I see whats happening here..

He seems far more economical and lucid than version JJG 1.0

Yeah, right.....    





NOT

[Post-Cosmic]

The longer I persist in my negative view, the greater will be your fun when I will be finally proved wrong.  

What would take to "finally prove you wrong"? Certain price level over time? Legal skeleton in one of major countries behind BTC? Large company accepting it (like Ebay etc.) ? Really, i'm wondering, what would it take?

 He already explained a hundred times (barely exaggerated at this point) what precisely it would take to conform w/ his definition of 'ok I'm sorry guys you were right in the end - I have to admit bitcoin is now finally successful' ~>

1] Widespread, government-sanctioned (or even promoted) adoption by the public in at least several countries.

2] ^ Due to actual, tangible, John-Q-Public-relevant benefits of using a blockchain-based currency that are OVER and beyond the economical, security, privacy, speed and convenience of use benefits afforded by traditional payment systems & infrastructure..

3] ^ To such an extent that above-referenced general mainstream public now has a NO-BRAINER choice in naturally & easily using a cryptocurrency as payment system.

Is it really that hard to see the writing on the wall though ? really ?

 Yes all those not blind can tell he's obviously biased & gov-devoted if that's what you mean.

 Regardless, I personally don't like the middle ground, the place where crypto finds itself so far, as much as I would like, more extreme adoption/obscurity scenarios.

 I know how needed & revolutionary blockchain technology is. I admit bitcoin has been and is successful to many definitions.

 But it hasn't been widely, critically successful yet, for lack of meeting the criteria laid in post above^.

 Therefore, until such time that crypto achieves that, I notion that I'd rather it either : a] Went back to being underground, all 'dark' w/ 0 regulation possible, 0 taxes, 0 socialized risks/losses, and ever more massive wild west volatility/opportunities for the competent trader, -Or- b] Achieve the other extreme, a massive adoption supercycle penetrating irreversibly deep into every facet of modern societies.

[bangersdad]

DRK has forked again.

yes and i have just seen you in the poloniex troll box..you uber troll.

[JayJuanGee]

...and when I trashed Bears users seemed to agree, in fact, they even helped me, but when I started questioning the whole going up thing they turned against me and started trashing me...

Yes, i can remeber the time where you trashed bears, even reasonable, whispering bears and not only screaming perma-troll-bears. Now you wonder that the crowd turned against you (or more - you against the crowd)? Not, really, no? ;-)

It is not what they want to hear or think about. Rockets, trains and tits will make you popular, not pessimism.

Personally, I do NOT mind pessimism, if there is some logical or at least sensical explanation to the pessimism.  Mmitech, on the other hand, seems to get easily distracted and explores irrelevant tangents.. and in the end fails to explain or back up what he was attempting to communicate.  In this regard, instead of attempting to clarify his communication, he goes on the attack and fails/refuses to take responsibility for whatever miscommunication may have existed.

[aminorex]

Well, I'm pretty sure I nearly got ignored by chalkbot, but my monkey is bearish on almost all timescales now.

[bangersdad]

Well, I'm pretty sure I nearly got ignored by chalkbot, but my monkey is bearish on almost all timescales now.

does your monkey think its a good time to sell some xmr? its been flying high this week.

[ARGpentem]

huobi looks bouncy. up from here?

[boumalo]

It's easy. If you want to buy a million dollars worth of coins, you're probably pretty smart and know what you're doing. And if you know what you're doing, then you don't try to buy them by putting one order in the order book at one price thats been beaten through several times in the last 24 hours.

Sure, but if you have a wall of 1 million, then you must have the money back it up, no?

You have the money to back it up but you have a software that will delete the order because it comes to it

Should I sell BTC before US auction of btc begins or should I hold ?

If you cannot decide on your own what to do or whom to follow, then do nothing. Presumably there is a reason that you bought BTC. If it still exists, hold. If it doesn't or never did, sell.

I bought BTC because concept of decentralization appealed to me. I am not in it for profit as I don't hold much BTC.

its good to participate in the market, helps liquidity and price discovery, every bitcoiner should have a trading account.

Yes, I should try. I have a trading account on kraken. I should try to trade with the money i earn from signature. Nothing to lose.

if you start trading, you can lose the money you earned during the sig campaign and your time; you will learn a thing or 2 though

[JayJuanGee]

Just replace what you use.

I know you are right but I just can't bring myself to spend any right now.

ONE of my obstacles in spending is the potential accounting problem to have to keep track... since it is supposed to be treated as property.

My solution is either to replace as I spend, and therefore say I did NOT claim it as profit b/c I replaced what I had spent... or I can spend it overseas (outside of the USA), which would cause me NOT to have to claim a profit.

Also, I am disinclined to sell now, anyway b/c at this point my portfolio remains in the red with a $613 average BTC price.

[JayJuanGee]

I am currently pessimistic about the chances of the price ever getting much higher than now

I bet you 1 bitcoin that some time during the lifespan of bitcoin the price will rise above the $580 range.  If this does not happen in the next 5 years, I give you a bitcoin.  Sound fair?

Oh and a sell off before July? This consolidation has bear trap written all over it.

For a variety of reasons, including how you have structured this bet, NO ONE with any brain would take this bet... maybe if you changed the reward to dollars, then possibly, who would want a bitcoin that may have little value in 5 years.

Also, maybe change the amount to $700 or some other more reasonable and higher amount.. $580 is the current floating price, as you know.... within 5 years, many would even bet $1000 or more... as a sure thing in their thinking.

I CAN'T TAKE THIS ANY MORE!! BETWEEN THE LINES, MAN. READ BETWEEN THE LINES. IS IT SO HARD?

Something is apparently obvious, yet there is a need to read between the lines?  Seems like you are having a meltdown, Cassius, about something trivial, no?