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

[kehtolo]

it is actually an easy bet for a patient and shrewd investor.

Wow. Patient AND Shrewd. Not exactly your common visitor to these boards.

[dakota neat]

Be nice and polite to bitcoin and it will rise again. Where's all the spirit gone?

[Torque]

Drops like this are difficult for me.  I've been planning to buy more for weeks.  But every time I've bought in the past, it drops the next day.  So I'm like a kid that has touched a hot stove one too many times, finally learning that a hot stove is indeed hot and not wanting to get burned again....

[JorgeStolfi]

Let's say that flying has just been invented.

... and a bunch of mechanics nerds build hundreds of copies of the Wright Bros' first flying plane and start selling them as a fabulous long-term investment, because they are obviously much better than horses, and in the future horse owners will surely pay a fortune for them ...

[NotLambchop]

It's amazing how delusional they are. They talk about the next bubble as if it's guaranteed to come. It simply isn't. We've been going down for 9 months. Now we're simply at the point the smart people understand there simplu won't be another bubble anymore. They're pulling out. We will go down very fast coming few weeks.

Sometimes you feel good, sometimes you feel bad. But your sentiment does not change the revolution in technology. It is steaming on relentlessly regardless of your feeling.

Let's say that flying has just been invented. The first aeroplanes are taking passengers. Then routes are established. 1920s, 1930s see a great growth. Would you say after a regulatory setback or something that, "this flying is overrated and will become a dwindling niche". Then - I know this is not the case with flight, but it is with Bitcoin - you would decide to sell your 1/21,000,000 share(s) of everything related to aviation at a pittance. If only 100 planes existed in the world, and they are small, 210k bitcoins would buy you one plane. Sell and be happy.

Meanwhile the ones who realize what is at stake, a revolution in tech, either happening or not, would buy your shares, and wait until the real value of one share is much higher. Because you cannot uninvent it, it is actually an easy bet for a patient and shrewd investor.

This is an absurd analogy.  If cryptocurrency is manned flight, Bitcoin is the Wright Brothers Flyer--revolutionary, great proof-of-concept, but not something Granny and Uncle Walt will ever think of as transportation.  The Wright Brothers were a failure as businessmen (ignoring the bicycle trade), and after some bitter patent disputes and lawsuits, the Wright Brothers Aeroplane Company was sold.  No fortunes were made--Howard Hughes came later.

P.S:  Aren't we supposed to be around $10k/BTC according to your "research"?

Edit: JorgeStolfi beats me to it

  ~NotLambchop, Bitcoin MegaloNode

[alani123]

Drops like this are difficult for me.  I've been planning to buy more for weeks.  But every time I've bought in the past, it drops the next day.  So I'm like a kid that has touched a hot stove one too many times, finally learning that a hot stove is indeed hot and not wanting to get burned again....

Summer is nearing it's end. 15th of August is when everyone wealthy from Europe goes on holiday abroad. We are probably reaching the bottom within this week. I feel like it's safe to predict that we'll see some rise when Summer is close to it's end.

[justusranvier]

Trolls are market makers, but plain cheerleaders won't see it. We are smart, we are strong, we are legion.

You never know the real motivations behind trolls trolling or what they are doing.

You are boring.

[vuduchyld]

Happy day for me! I've got dry powder. Might pick up a six pack of bitcoin this morning.  Maybe a twelver!

[ChartBuddy]

Explanation

[Dump3er]

Trolls are market makers, but plain cheerleaders won't see it. We are smart, we are strong, we are legion.

You never know the real motivations behind trolls trolling or what they are doing.

You are boring.

Popping up page, I saw ugly words like US government. So I closed it, before even start to read.

[Wandererfromthenorth]

aaaaand as soon as USA wakes up, china begins dumping round 2. They might start to panic sell, and looking at this whole situation they should.

[Tzupy]

aaaaand as soon as USA wakes up, china begins dumping round 2. They might start to panic sell, and looking at this whole situation they should.

Not yet, they must break 3100 and then panic sell, but volume is too low right now, maybe later.

[oda.krell]

Final capitulations are the sweetest buying opportunities. You would probably never have heard of me, unless I happened to analyze the fundamentals and charts for month, before buying in at the final capitulation of 2011.

The more ppl speak like you (and the less they speak like me  ) the better, because that much closer to the bottom we are.

But real tough guys can make the decision without sentiment analysis as well as with it. I hardly knew about the forums back then, even my account is from 2012.

It is the new money that will raise the price to new levels. They are still waiting. What can you do but wait? Next room to me now, there is a guy who takes jacuzzi every day and smokes cigars. He held through the bubble, and the fall, and the capitulation (of 2011) and ever since. His friends sold out in the downtrend and said they will come back if/when the tide turns. They never did. They are probably working now.

Bitcoin does not care if you make money or not. Also I don't care. I know there are enough people in the world who understand reasonable speech, and gravitate into Bitcoin in waves. And if bitcoin is foiled, now we have Monero, so there is a real backup, vainly sought after for 2-3 years.

The waiters came to ask what I want for breakfast, and roasted liver with red wine sounded like nice. Thank you for listening.

[NotLambchop]

^
The father of another revolutionary technology.

[jeezy]

aaaaand as soon as USA wakes up, china begins dumping round 2. They might start to panic sell, and looking at this whole situation they should.

Not yet, they must break 3100 and then panic sell, but volume is too low right now, maybe later.

Yeah I think so too. Volume needs to rise, maybe we will see ~480 before the weekend. Keeps the traders fingers excited at least.  

[Schickeria]

Final capitulations are the sweetest buying opportunities. You would probably never have heard of me, unless I happened to analyze the fundamentals and charts for month, before buying in at the final capitulation of 2011.

The more ppl speak like you (and the less they speak like me  ) the better, because that much closer to the bottom we are.

But real tough guys can make the decision without sentiment analysis as well as with it. I hardly knew about the forums back then, even my account is from 2012.

It is the new money that will raise the price to new levels. They are still waiting. What can you do but wait? Next room to me now, there is a guy who takes jacuzzi every day and smokes cigars. He held through the bubble, and the fall, and the capitulation (of 2011) and ever since. His friends sold out in the downtrend and said they will come back if/when the tide turns. They never did. They are probably working now.

Bitcoin does not care if you make money or not. Also I don't care. I know there are enough people in the world who understand reasonable speech, and gravitate into Bitcoin in waves. And if bitcoin is foiled, now we have Monero, so there is a real backup, vainly sought after for 2-3 years.

The waiters came to ask what I want for breakfast, and roasted liver with red wine sounded like nice. Thank you for listening.

Is this Catherine the Great?

[NotLambchop]

^Nah.  http://en.wikipedia.org/wiki/Marie_Antoinette

[Febo]

Her mother Maria Theresa was a real deal.

[podyx]

If I didn't invest more then what I can afford to lose I would look away from the price for a few months

Kids, don't invest more then you can afford to lose!

[ChartBuddy]

Explanation