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

[shmadz]

When you are pseudonymous slander and libel can flow freely.  until theymos gets a subpeona at least. If I were a bfx owner I would try to squeeze MatTheCat for a few hundred coins in court.

really?

If I were a bfx owner I would just be glad that mat continues to advertise for them in his sig. (unless of course if they were actually paying him to pimp finex in his sig, in which case I would cancel that contract, lol)

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[Gimmelfarb]

i think the low in 3660 zone huobi is bottom of C in ABC from 3840 top. shows a minor 5 wave within BC, very much RSI divergence up to hourly time frame. it looks like bottom to me. back to 610 BFX imo, then maybe consolidate and push for a new high.

[YogoH]

Anyone have an ideas on why bitcoin is so polarizing?  Either you love it or you hate it, not many are in between.

[shmadz]

Anyone have an ideas on why bitcoin is so polarizing?  Either you love it or you hate it, not many are in between.

sure, I'll take a shot...

just change "Either you love it or you hate it" with "Either you get it or you don't"

done  

:edit: - I think the real barrier is that in order to understand why bitcoin is good, you need to first understand how the current fiat system truly works. - good luck explaining that to someone whose livelihood depends on the current system and then you will understand the problem that is faced in the "adoption gap" of bitcoin.

[jl2012]

I think the blockchain.info bitcoin days destroyed chart is looking interesting. There was a spike up when the SR coin auction was announced, plenty of old coins got cashed out to raise money for bidding in the auction I guess.

You don't need to guess. That was FBI moving their coins. So your hypothesis is wrong

[bangersdad]

Ya, it will be interesting to see how the mafia will influence all of this.

[Gimmelfarb]

When you are pseudonymous slander and libel can flow freely.  until theymos gets a subpeona at least. If I were a bfx owner I would try to squeeze MatTheCat for a few hundred coins in court.

LOL! libel -- good luck. and i'm sure you know that no court would ever force anyone to pay a debt in bitcoin.

and BFX is the shadiest exchange around. they are obviously incompetent -- buggy code, laggy engine, orders that don't execute, constant API fuck-ups -- and have a stated policy to FUCK OVER traders to save lenders. and now no bitstamp liquidity too -- so lenders and traders are even more unsafe now.

if any exchange is going to collapse, and i'm sure one or two major ones will in the next year or two, BFX is definitely one of them. that time bomb is ticking. just look at their horribly coded platform, and ask yourself if you trust them to hold everything on account. they are incompetent, if not MUCH worse. obviously any speculation on front running/stop hunting by BFX insiders is conjecture, but i would not be surprised IN THE LEAST.

and aminorex, why do you care, anyway? what good things could you say about BFX that could possibly outweigh the bad?

[pjviitas]

Anyone have an ideas on why bitcoin is so polarizing?  Either you love it or you hate it, not many are in between.

For the same reason that any foreign currency is polarizing...harder to use but still technically a better currency.

[ChartBuddy]

Explanation

[JorgeStolfi]

Anyone have an ideas on why bitcoin is so polarizing?  Either you love it or you hate it, not many are in between.

Well, either it will "go to the Moon" (i.e. its price will get much higher than now, and keep rising at least 5-10% per year) or it will collapse to 0.  There is no viable long-term scenario between those two.  So, one's attitude towards bitcoin depends on which scenario one believes in.

[empowering]

and.... yet another one to add to the tsunami wave ....  

Swiss Regulators Give Green Light for Bitcoin ATM Network.

http://www.coindesk.com/swiss-regulators-give-green-light-bitcoin-atm-network/

Does anyone really really honestly at this point not start to see a certain trend  ??  

Seriously?

One by one they add up...

Wonder who/what/where will be next ; )

Only a fool would stand in the way of a tsunami.

[empowering]

[shmadz]

Anyone have an ideas on why bitcoin is so polarizing?  Either you love it or you hate it, not many are in between.

Well, either it will "go to the Moon" (i.e. its price will get much higher than now, and keep rising at least 5-10% 500-1000% per year) or it will collapse to 0.  There is no viable long-term scenario between those two.  So, one's attitude towards bitcoin depends on which scenario one believes in.

fixed that for you  

[JayJuanGee]

"The Inner Visions grow kit produces multiple harvests and only needs to be watered once every grow cycle. The kit contains a 1200 ml cultivation box filled with spore-inoculated substrate, grow bag with air filter, two paper clips and a user manual. "


http://www.youtube.com/watch?v=a6vrITcf9OY

I´m looking forward to hear your first market analysis after your trip.  
Maybe you´ll be able to see the manipulators clearly actin in the orderbook(holdin the price down, as always), once your doors of perception have been opened!

My bold above.  She may cheer up, too?  And become more optimistic..  This will be great for Tera, this thread and possibly better for bitcoin.

[wachtwoord]

Anyone have an ideas on why bitcoin is so polarizing?  Either you love it or you hate it, not many are in between.

Well, either it will "go to the Moon" (i.e. its price will get much higher than now, and keep rising at least 5-10% per year) or it will collapse to 0.  There is no viable long-term scenario between those two.  So, one's attitude towards bitcoin depends on which scenario one believes in.

Of course there is somewhere between the two extremes.

[ChartBuddy]

Explanation

[JayJuanGee]

The real weak hands are those who fantasize about some imminent 10k bubble looking at retarded exp log chart trendlines and then dump when inevitably it becomes blatantly obvious that their inflated expectations were wrong.

Bitcoin will prove to be the best investment around, even today, with far far far lower growth rates than what people are expecting. It's fine to fantasize about these things, just don't dump if perfection doesn't occur. Oh, and these fantasies are not impossible. They're not certainties either of course.

I think that there are several in bitcoin who have similar situations to mine, in that they are playing long-term.  They are betting on some kind of meaningful increase in BTC value in the coming years (possibly 10 to 50% per year), and they are hoping for the possibility of real great increases in value (possibly 100% to 1,000% per year), also they are prepared that BTC may decrease in value or remain flat, but consider that decrease in value scenario to be the least likely.  So they are weighing the various possibilities. 

Surely, NO ONE exactly fits the calculation model that I outlined above, and each of us likely place slightly differing probabilities on different outcomes, but I believe a large majority of long term bullish bitcoiners have some kind of calculation resembling what I outline above.

[JayJuanGee]

The real weak hands are those who fantasize about some imminent 10k bubble looking at retarded exp log chart trendlines and then dump when inevitably it becomes blatantly obvious that their inflated expectations were wrong.

So are traders who try to time bubbles to sell top and buy back lower considered average strength hands? And holders strong?   Trying to figure out where I fit.

Weak hands are people like MatTheCat, fonzie, and some others who are scared to hold coins for long and when the tree starts shakin' they don't know how fast to dump their coins again. Also people like the ones Blitz referred to who buy some coins to ride the imminent bubble and when they don't see a bubble within 2 weeks they will sell their coins again disappointed. Faalhaas is a perfect example of this.

Then we get to the Veronicas who think they are a strong hand at first, but then get really scared when they see the price drop hard and eventually give in and dump their coins at the bottom or close to it. This is also a weak hand, but one pretending to be strong until tested and these people will naturally suffer the most.

Then we have the day traders who use TA and stuff to try and buy low sell high. They are also weak hands but a small percentage of them are actually good enough to make money from the market. Most of them will miss the biggest profits during the big Bitcoin bull rides though, but they're at least trying to manage their risks.

Then we get to the long term investors who are generally long on Bitcoin, but take profits out during big rallies and they also may buy more when they see dips. These I regard as strong hands with a decent sense of risk management. In terms of time investment and profitability I think this is the most efficient form of trading/investing in Bitcoin and I personally try to stick mostly to this strategy. I admit I do tend to also be a part of the last group, the true superstrong hands who are called the HODLERS of course. Being a HODLER has many advantages like no need to submit yourself to exchange risks and no need to wreck your brain and invest time into deciding when to sell and when to buy back. The disadvantage however is that you may spend a lot of time underwater or lose your entire investment one day if Bitcoin fails. But these people don't care as it's either all or nothing for them, and that's also a perfectly valid strategy if you ask me.

Gr8 summary.....  +1   

[smiley123]

More news from Italy.  This is basically an a nice primer on all that is bitcoin.  It came out on the 20'th of June after the hearings from the House of Representatives in Italy.  It sounds like they will be installing a Robocoin ATM in Rome by the end of June.  One thing I do remember from their hearings is that one of the speakers said that they missed out on the early adoption of the internet, and they don't want to repeat that mistake with bitcoin.  This is a good start I guess.

One thing to note here is that there is yet another event that converges on the 26'th.  It sounds like Robocoin will be making a presentation and there will be discussion on how to regulate their ATM's.

Splendid stuff.  .  .  the tsunami is building,  and at a fair old rate.

Only fools try to stand in the way of a tsunami.

Lets get the italian maffia in bitcoin  
Much better than those suitcases of filthy FIAT.

For the moment  -  methinks they would prefer the suitcases of Fiat  -  easy to play games with,  plus they are not fans of change not unless they control it.

Ya, it will be interesting to see how the mafia will influence all of this.

Probably the same way they influenced e-mail adoption.... not a whole lot,  but then I guess maybe some money laundering but they would probably use a different crypto than BTC-  one of the 'darker'  coins,  maybe some fraud and extortion scams,  some general racketeering,  and possible even BTC loan sharks-  or protection  money  "  Where is this months BTC ?  transfer the fukin'  crypto paisan or maybe in the future you don't walk so good capish? y'fukin Jabroni   "  so basically business as usual.  

If anything once they get their heads around it they will be no doubt exercising their control and influence over the local politicians to enable them to get away with blue bloody murder,  then in Italy where do the banks, and politicians and police and mafia begin and end  ?  they see to all role into one non?  


Ha - I am just foolin'  but yes I guess it will be interesting to see how organized crime comes into play.


EDIT -  actually I am struggling to think of a place anywhere now where the banks, and politicians/government and police and mafia/  organised crime  do not at some point roll into one..  think it is just more obvious in Italy than many other places.
 

I heard that there has been a lot of crackdown on the mafia in recent years, but because of it's highly distributed nature it will likely prove impossible to stamp out completely.

[empowering]

I heard that there has been a lot of crackdown on the mafia in recent years, but because of it's highly distributed nature it will likely prove impossible to stamp out completely.

Hmm tell that to the people of Naples - the mafia are still in charge there, the pile of rubbish is one of many physical manifestations easy enough to see- talking of which careful where your mozzarella comes from.

Though you may be right there has been a crackdown- the Italians are on the brink, the mafia have more money and a closer network ... than the Italian government.....  I think you are also right that it will be impossible to stamp out completely or even meaningfully for quite some time.

 
Edit:  Talking of organised crime adopting tech- I see a world where illegal drugs are delivered by drones - cryptos could be a part in that , but more worryingly would organised crime need to use contract killers, (teenagers as is the craze atm)  buried exploisives/carbombs to take care of a problem- when they can send a weaponised drone over to see you.... (in a robot voice- "Gimme the f'kin BTC!!" electric shock) yikes.