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

[adamstgBit]

Regarding the poll: when does the daily candle close? GMT?

i think its at 8:00PM EST

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[wobber]

1W MACD is closing green for the first time since January 29th

Rally time?

[Mervyn_Pumpkinhead]

So, I think that the truth is somewhere in the middle. But in the context of my previous post, one truth remains.
If you want to generate wealth, then you have to either 1) work hard 2) be talented 3) deceive others

You miss out "get lucky" but more importantly "Use your resources wisely" (which dovetails a little with the "Be talented").

In truth, many here used their knowledge of the arts to recognize an idea (rightly or wrongly) as something with a huge potential and invested some of their capital, obtained through other means, to jump on board (in the process, rewarding those who had put in the 1) and 2) from above).

I think that "get lucky" applies more to obtaining wealth then to generating wealth. If you win the lottery or invest into an highly risky scheme with an unpredictable outcome and win, then you aren't exactly generating wealth, but obtaining the wealth of others who have entered the same game of luck.

"Use your resources wisely" applies more to "work hard". For using your resources wisely in business ,you have to study. You have to learn about all the details and specifics needed in understanding the resources at hand. You can only manage something skilfully if you understand that something in depth.
There is also talent in this skill and some people have better natural instincts, but work is still the main factor for success in managing resources.

I know that many like to flatter themselves by saying that they knew already in 2011 that btc will cost 1000$ in the coming years. I can't take these people very seriously if they don't have a long resume of successful investments in the field of finance or information technology. If it's about skill, then they could use that skill in a much bigger field then bitcoin, but most of those "seers" have bitcoin as their only hope for success and they aren't successful with investments in general.
Thats's the reason why they seem like the guy who made one successful centre court shot in basketball, and after that they started bragging ,how they belong to the NBA and how it was pure skill.
So, with this reasoning, you may understand why I don't believe in this "recognizing the idea" very much.

[BTCfan1]

looks like 655 is FINALLY going to get eaten

[ChartBuddy]

Explanation

[Mervyn_Pumpkinhead]

I think that there are a lot of fools who dream of riches but who aren't ready to do any hard work for it.

what about those of us that work damn hard at our jobs in order to earn as much money as we can to then buy bitcoin. I work as much overtime as i am offered, and save as hard as i can so i can buy bitcoin, and i would imagine i am not alone. i do not dream of riches - i just feel alot safer having my holdings in BTC which i control rather than in a bank which i do not. If i am making more than the current pittance offered by interest on savings accounts then i am even happier.

I would recommend you to look at better investment opportunities.
In my idea, the best way would be to invest in yourself. Obtain a needed skill, save up and start your own company. It isn't as easy as buying bitcoins, but it's A LOT more certain and you can have more control of your own wealth.
Because... what good is having control of bitcoin units, if you can't control the unit value? If you can't control bitcoin unit value, then you still can't control your wealth. With holding bitcoins, your wealth is just as much or even more out of your control, then holding your money in the bank. If you want to buy a commodity as an investment and stay in control, then buy something that's value isn't highly speculative. (golds value for instance is also highly speculative)

[Hunyadi]

>800 next week I guarantee it, not kidding.

[wachtwoord]

Regarding the poll: when does the daily candle close? GMT?

i think its at 8:00PM EST

For all non Americans: EST is UTC - 5 hours  (so 1 am UTC)

[justusranvier]

I would recommend you to look at better investment opportunities.
In my idea, the best way would be to invest in yourself. Obtain a needed skill, save up and start your own company. It isn't as easy as buying bitcoins, but it's A LOT more certain and you can have more control of your own wealth.
Because... what good is having control of bitcoin units, if you can't control the unit value? If you can't control bitcoin unit value, then you still can't control your wealth. With holding bitcoins, your wealth is just as much or even more out of your control, then holding your money in the bank. If you want to buy a commodity as an investment and stay in control, then buy something that's value isn't highly speculative. (golds value for instance is also highly speculative)

http://nakamotoinstitute.org/mempool/the-correct-strategy-of-bitcoin-entrepreneurship/

[aminorex]

But whats the monkeys take on it?

monkey wants this to be the overnight bottom, right here.

Good monkey - have a banana.

Monkey thinks we are getting toppy this afternoon, on intraday scale, support at 639, no visible resistance.   Otherwise remains consistently bullish on longer term scales.  (He stopped flip-flopping on the daily scale.)

[SirChiko]

>800 next week I guarantee it, not kidding.

Who wouldn't be okay with it? Also 800 next week? I guess 700 max 750 if we will see some kind of rally.

[Mervyn_Pumpkinhead]

I would recommend you to look at better investment opportunities.
In my idea, the best way would be to invest in yourself. Obtain a needed skill, save up and start your own company. It isn't as easy as buying bitcoins, but it's A LOT more certain and you can have more control of your own wealth.
Because... what good is having control of bitcoin units, if you can't control the unit value? If you can't control bitcoin unit value, then you still can't control your wealth. With holding bitcoins, your wealth is just as much or even more out of your control, then holding your money in the bank. If you want to buy a commodity as an investment and stay in control, then buy something that's value isn't highly speculative. (golds value for instance is also highly speculative)

http://nakamotoinstitute.org/mempool/the-correct-strategy-of-bitcoin-entrepreneurship/

Sorry, but to me, this article represents a lot of things that I consider wrong with bitcoin and it's scenery.
The article is basically a religious doctrine, telling that there should only be one god, because then we can all live in peace by worshipping that god.
Calling altcoins a bad idea and telling that people should stick with bitcoin, just because then we could earn more (at the expense of others) is a bad joke at best. Altcoins improve the initial idea of digital currencies that are based on open source principles. Altcoins enable the idea to improve further then bitcoin, by fixing it's core flaws that are beyond fixing. Altcoins bring innovation and competition to the field.
The authors wet dream seems to be, that the idea won't evolve further, so the early bitcoin adopters could all enjoy the sweet fruits of stagnation, without the need to actually evolve together with the idea.

[Bronstad]

>800 next week I guarantee it, not kidding.

[inca]

<snip>

This is a bitcoin movement thread on a bitcoin forum.

Please consider taking your bearish (trollish) altcoin chatter elsewhere. Thanks.

[anujjain]

<snip>

This is a bitcoin movement thread on a bitcoin forum.

Please consider taking your bearish (trollish) altcoin chatter elsewhere. Thanks.

Agree, this thread only for Bitcoins, not for other altcoins discussion, we have to keep only Bitcoins trading discussion.

[Mervyn_Pumpkinhead]

<snip>

This is a bitcoin movement thread on a bitcoin forum.

Please consider taking your bearish (trollish) altcoin chatter elsewhere. Thanks.

I enjoy the fact that the moderators in this forum are more level-headed then the majority of it's users.
I recommend you to start using rpietila's forum, if you only want to read one-sided wonderful tales about the amazing properties of bitcoin. This place has some colour, so deal with it.

[ShroomsKit]

I love how bitcoiners want to spend hours and hours analyzing this auction and the buyer, when there's 1000% chance that Tim Draper will do absolutely nothing but sit on these 30K coins for the next 6-12 months while he further invests to build out the third world exchange infrastructure.  

It's ridiculous how such a small thing turned into the biggest and most important event this year.
Traders are idiots.

[inca]

<snip>

You have been and will continue to be wrong about bitcoin. Anyway, intelligent troll or not, this is a bitcoin thread and appealing to the moderators will not change that!

[Mervyn_Pumpkinhead]

<snip>

You have been and will continue to be wrong about bitcoin. Anyway, intelligent troll or not, this is a bitcoin thread and appealing to the moderators will not change that!

Ok then, carry on. I wouldn't be exactly proud of myself, if I continued a dialogue like this for long.

[Bronstad]

mr. pumpkinhead,

Your attention seeking troll account has run its course. No one is laughing anymore, and to put it bluntly, your act is tired.

Please kindly and gently sod off into the night.