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

[ChartBuddy]

Explanation

[CoinsCoinsEverywhere]

The high and low price is becoming a tighter and tighter range...is this the calm before the storm?  Given our history, we can only be stable for so long before there's some more action...

Yep, bollinger bands have been pretty squeezy recently, should see a strong move soon. I just hope it's to the upside.... been holding and waiting for a breakout a few weeks now.

Yeah, I believe the last time we were stable for a good amount of time we ended up flash crashing...so hopefully this is the opposite this time around

Which time was that? Price volatility has really died generally the past couple months. Price action right now reminds me of the $440-450 level, tbh, but I don't want to get my hopes up, either.

I agree.  It does have a similar feel to $450.  And I like the way volume has been dropping on the successive dips that have occurred in July.  That would seem to suggest less selling conviction.  News seems to be pretty positive lately, too.

[ChartBuddy]

Explanation

[Argwai96]

Short term, not sure what to think. I thought we were seeing a rising wedge, but the bottom seems to have fallen out (and not much momentum followed). Could still see a third drive up.

[freedomno1]

I'm curious if coins are moving back into Bitcoin before the next rise
Kind of seems quieter on mintpal trading volume on the altcoins

[ShroomsKit]

Short term, not sure what to think. I thought we were seeing a rising wedge, but the bottom seems to have fallen out (and not much momentum followed). Could still see a third drive up.

All i see is the price going down again and no sign whatsoever that we're about to go up.

[ChartBuddy]

Explanation

[ubercool]

Last two week, market really consolidating and we will move soon 1 side movement.
Hopefully it will on upside, normally it happen when market consolidate like that.

[JayJuanGee]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

I thought that I called the question stupid and I answered it...... and you are implying that you are seeking some kind of deeper and more significant meaning?  And what would that deeper and more significant meaning be?

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?  People acquire bitcoins in a variety of ways and then hold them and store them in various ways, and when it comes time to purchase something they send the bitcoins to the purchase address.  Then on Dell's end, they choose whether to hold the purchase in bitcoins or to immediately cash them out as fiat (Dell is using coinbase)..

[ubercool]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

I thought that I called the question stupid and I answered it...... and you are implying that you are seeking some kind of deeper and more significant meaning?  And what would that deeper and more significant meaning be?

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?  People acquire bitcoins in a variety of ways and then hold them and store them in various ways, and when it comes time to purchase something they send the bitcoins to the purchase address.  Then on Dell's end, they choose whether to hold the purchase in bitcoins or to immediately cash them out as fiat (Dell is using coinbase)..

Mostly Big merchants use Coinbase because they just sell what they get sell through Bitcoins,
 and it doesn't affect them Bitcoin Volatilities.

[JayJuanGee]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

I thought that I called the question stupid and I answered it...... and you are implying that you are seeking some kind of deeper and more significant meaning?  And what would that deeper and more significant meaning be?

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?  People acquire bitcoins in a variety of ways and then hold them and store them in various ways, and when it comes time to purchase something they send the bitcoins to the purchase address.  Then on Dell's end, they choose whether to hold the purchase in bitcoins or to immediately cash them out as fiat (Dell is using coinbase)..

Mostly Big merchants use Coinbase because they just sell what they get sell through Bitcoins,
 and it doesn't affect them Bitcoin Volatilities.

I doubt that we can make a blanket statement about what merchants are doing regarding their bitcoin purchases.  It may be true that a large number of them are immediately converting to fiat; however, they can change that at any point, in the event that they are o.k. with holding BTC.

I think when Overstock chose Coinbase, they made that choice b/c Coinbase was fairly aggressive to assure that Overstock got set up quickly - accordingly, Overstock did NOT shop around regarding which service to use.

[nby]

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

How about this:

I send the USD to the exchange in any way it's available to me, preferably with the cheapest one.

It could one of these:
ACH for Coinbase
Plain wire transfer (most of the exchanges)

Or even these:
Astropay (Bitstamp).
SEPA (Bitstamp, Kraken, and so on)
...

The point is, even if there are middle-man fees with all these methods, you will end up with BTC, which in turn gives you more purchasing power (due to discount, offers, etc) than you would have if you used USD directly.

[ChartBuddy]

Explanation

[iram3130]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

I thought that I called the question stupid and I answered it...... and you are implying that you are seeking some kind of deeper and more significant meaning?  And what would that deeper and more significant meaning be?

Yes you called the question stupid, and no you did not understand it. If "you pay USD go USD to BTC to buy", as the poster suggested, how do you send USD to Coinbase/exchange/Bitpay/whatever?

I go to Dell's website, and I choose to pay with bitcoins from my blockchain wallet, no?  People acquire bitcoins in a variety of ways and then hold them and store them in various ways, and when it comes time to purchase something they send the bitcoins to the purchase address.  Then on Dell's end, they choose whether to hold the purchase in bitcoins or to immediately cash them out as fiat (Dell is using coinbase)..

Mostly Big merchants use Coinbase because they just sell what they get sell through Bitcoins,
 and it doesn't affect them Bitcoin Volatilities.

I doubt that we can make a blanket statement about what merchants are doing regarding their bitcoin purchases.  It may be true that a large number of them are immediately converting to fiat; however, they can change that at any point, in the event that they are o.k. with holding BTC.

I think when Overstock chose Coinbase, they made that choice b/c Coinbase was fairly aggressive to assure that Overstock got set up quickly - accordingly, Overstock did NOT shop around regarding which service to use.

Businesses don't like volatilities that is why they hedge their foreign currency that is not that volatile like Bitcoins.
So I am sure they will not hold Bitcoins and will sell asap they will get.

[ChartBuddy]

Explanation

[rebuilder]

Short term, not sure what to think. I thought we were seeing a rising wedge, but the bottom seems to have fallen out (and not much momentum followed). Could still see a third drive up.

All i see is the price going down again and no sign whatsoever that we're about to go up.

What is this, Dr. Jekyll and Mr. Bear? What happened to Dell news meaning the only way is up?

[Erdogan]

When will be 700$ ? before new year? What do you think?

In stead of asking, form your own opinion, say it here with the reasoning behind it.

Here is an example: Based on the number of people just asking what the price will be and when, knowing that there are different opinions and at best they will get all possible answers, I can say that the prospected rise of bitcoin due to the network effect is severely hyped up, and will lead to not a steady rise but bubbles, burns, crashes, euphoria, suffering, despair. When? At all times.

I agree with you Erdogan that this kind of volatility is likely to continue with BTC when BTC reaches 1 trillion market cap, and it may continue beyond that, when BTC reaches 10 trillion and 100 trillion market cap.  Once BTC reaches these higher market caps in the trillions, though, it will be much more difficult to manipulate it.

It will never be completely stable. The idea that the current money is stable is an illusion also. The important thing is that the money issuers now can manipulate, this makes long time planning impossible. With bitcoin, everybody can, if they want, try to see what is coming and take action. Those who don't want, can just assume that the value will hold or slightly increase, and they will be correct in the long term. This is a huge improvement.

[Erdogan]

if you have a fully verified coin base account that is. SO GET SPENDING. Even if you pay USD go USD to BTC to buy... it's actually cheaper that way.

How do you send USD to Coinbase/exchange/Bitpay/whatever, and what do they send to Dell -- USD, or BTC?  If USD, how do they send it?

This appears to be one of those basic retarded questions of yours that could easily be answered by yourself, if you were to buy and use bitcoins then you would possibly realize how to use them.  Of course, the customers pay in bitcoin, and then if Dell wants to convert them to fiat after the transaction, they have that fiat conversion option.

And that is the (non)answer that I get whenever I ask that question in this forum. I had to ask the same person three times (on another thread), before he understood the question (and answered it for only one special case).

You don't really ask a question. It is your convoluted way of proposing that the trades don't make any difference.

Your proposition is wrong. It is correct that only the holding of bitcoins  give them value. A trade only transfers the ownership of bitcoins, but at all times, someone must hold them. So if a trade is only a swift roundabout through bitpay and merchant and the coins immediately come back to the customer, that doesn't do much to the value. But eventually, frantically going to the exchange, sell, then rebuy when the next need arises, will appear as a bad idea, because holding them for a while is low risk and there is no value depreviation. Therefore, all transient users will eventually be converted to holders.

[Erdogan]

It's a closing pennant pattern. July 24 to August 1, I say. But I may BULL-shit you, as I usually do...

There is to much bull on this forum. It has become unbearable. 

[...]

Nice

[ChartBuddy]

Explanation