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

[Argwai96]

firstly because I am not impressed with the volume on bitstamp. second, this is just a low volume rebound.

when it eventually goes up, volume will be thin relative to times past, simply because of scarcity.

Perhaps. However, whenever we have seen high volume capitulation spikes in the past, the resulting bull volume is usually quite large. I don't think we'll see the liquidity scarcity come into play until we're at higher levels than this.

[Cassius]

My goodness the drivel on this thread is remarkable. It reminds me why I left.

[kireinaha]

My goodness the drivel on this thread is remarkable. It reminds me why I left.

So why don't you contribute something then?

[JayJuanGee]

TL;DR

let´s get back to WALL OBSERVING plz 

Yes sir (or ma'am): 

BTC prices went down to $497 this morning on Bitstamp, and currently hovering in the $521 arena. The major question remains whether $497 was the bottom or whether we are going to revisit $497.  I tend to think that there will be attempts to revisit $497... at least through this coming weekend..   This low point will be difficult to maintain.. with increases in volume being apparent.. maybe we will see prices break into the $480s... and then maybe next week we could rally into the upper $500s, if NOT further.

520  was the last resist before the 450- level, see the 1 day chart on bitstamp.

Now that it is lost we won't be able to avoid the fall.

Really?  I thought that price movement was probabilities rather than certainties... Accordingly, in my above post, i made my prediction about what I think will probably happen.  Hope that I am correct - although I do NOT have a very good record, to date.      

[Davyd05]

Fibs set at the low of last sept and high of the rally show us hitting the support @497 just before the $496 61.8% line. (bitstamp 1d charts)

The last time I used these numbers to call a bottom was our visit to the 330...where the same fibs had 315 as the support before no where land.

Time is all that will reveal whether this will hold but I think it will hold as bottom.

I also looked at the relative percentage in the silk road dips before blastoff on the chance bull whales or manipulators we're trying to get us to believe in that market reaction. Was taking the local high of a round 600-620 taking a 17-20% dip would've been roughly 490-500.

[Cassius]

My goodness the drivel on this thread is remarkable. It reminds me why I left.

So why don't you contribute something then?

Did, earlier today. Rather interesting paper on anonymity in the context of Risto switching his affections to Monero. Point was that Monero suffers from unsustainable blockchain bloat and until they fix it, it can't go anywhere. Teleport seems to offer a new approach to anonymity that avoids the problems of ring signatures and mixing. Asked for feedback since privacy is a big deal and the coin that nails it will do well. No one gave any.

[Nightowlace]

I am an permabull. I know the value of the technology, I know the VC money being pumped in, I know the value of having control over your own money. However I would love to see the price tank down in to the $300's for a completely and utterly selfish buying opportunity.

[JayJuanGee]

My goodness the drivel on this thread is remarkable. It reminds me why I left.

So why don't you contribute something then?

Did, earlier today. Rather interesting paper on anonymity in the context of Risto switching his affections to Monero. Point was that Monero suffers from unsustainable blockchain bloat and until they fix it, it can't go anywhere. Teleport seems to offer a new approach to anonymity that avoids the problems of ring signatures and mixing. Asked for feedback since privacy is a big deal and the coin that nails it will do well. No one gave any.

LINK!!!! or it didn't happen... 

[magicmexican]

We need Mark to turn on the Willy

[ChartBuddy]

Explanation

[Cassius]

My goodness the drivel on this thread is remarkable. It reminds me why I left.

So why don't you contribute something then?

Did, earlier today. Rather interesting paper on anonymity in the context of Risto switching his affections to Monero. Point was that Monero suffers from unsustainable blockchain bloat and until they fix it, it can't go anywhere. Teleport seems to offer a new approach to anonymity that avoids the problems of ring signatures and mixing. Asked for feedback since privacy is a big deal and the coin that nails it will do well. No one gave any.

LINK!!!! or it didn't happen... 

You spend your life on these boards so I'm surprised you missed it. Still, so you can ignore it again:

https://bitcointalk.org/index.php?topic=178336.msg8346727#msg8346727

Note that I asked for considered, meaningful feedback, which was perhaps why I didn't get any.

[aminorex]

Point was that Monero suffers from unsustainable blockchain bloat and until they fix it, it can't go anywhere.

That's the FUD story.  The fact is that XMR blockchain is asymptotically about 5.5x the size of bitcoin, and that number tends to go down over time. Your improvements are welcome.

Teleport seems to offer a new approach to anonymity that avoids the problems of ring signatures and mixing. Asked for feedback since privacy is a big deal and the coin that nails it will do well. No one gave any.

You might get more feedback if you didn't call it 'teleport'.  Sounds too much like pixie dust, so I won't take time to look.  I'll let others with more time do that.

[Cassius]

Point was that Monero suffers from unsustainable blockchain bloat and until they fix it, it can't go anywhere.

That's the FUD story.  The fact is that XMR blockchain is about 5.5x the size of bitcoin, and that number tends to go down over time.

Teleport seems to offer a new approach to anonymity that avoids the problems of ring signatures and mixing. Asked for feedback since privacy is a big deal and the coin that nails it will do well. No one gave any.

You might get more feedback if you didn't call it 'teleport'.  Sounds too much like pixie dust, so I won't take time to look.  I'll let others with more time do that.

I expected more of you, Aminorex. Any advance in this field is worthy of consideration, assuming you meant anything you've previously said about privacy. But each to their own.

[kireinaha]

My goodness the drivel on this thread is remarkable. It reminds me why I left.

So why don't you contribute something then?

Did, earlier today. Rather interesting paper on anonymity in the context of Risto switching his affections to Monero. Point was that Monero suffers from unsustainable blockchain bloat and until they fix it, it can't go anywhere. Teleport seems to offer a new approach to anonymity that avoids the problems of ring signatures and mixing. Asked for feedback since privacy is a big deal and the coin that nails it will do well. No one gave any.

I agree, Monero is already dead in the water. I have the feeling that Ristro invested a massive amount of money into it (which probably is the cause of the rally up to $4/coin a couple months ago) and is now doing his best to pump it to others here. He's going to have to cut his loose before long and switch to the next thing.

[Cassius]

My goodness the drivel on this thread is remarkable. It reminds me why I left.

So why don't you contribute something then?

Did, earlier today. Rather interesting paper on anonymity in the context of Risto switching his affections to Monero. Point was that Monero suffers from unsustainable blockchain bloat and until they fix it, it can't go anywhere. Teleport seems to offer a new approach to anonymity that avoids the problems of ring signatures and mixing. Asked for feedback since privacy is a big deal and the coin that nails it will do well. No one gave any.

I agree, Monero is already dead in the water. I have the feeling that Ristro invested a massive amount of money into it (which probably is the cause of the rally up to $4/coin a couple months ago) and is now doing his best to pump it to others here. He's going to have to cut his loose before long and switch to the next thing.

Right. I'm happy to be reeducated about ring signatures - which are, after all, a fantastic advance - and the potential issues of blockchain bloat. But the fact is the more signatories, the greater the bloat, and with advances in computing that's what you're going to need. If there was a way to do it more simply and effectively, then that solution would presumably gain market share. CoinJoin (sounds like a form of venereal disease, so don't bother looking into it Aminorex) has its own issues.

[thefunkybits]

Point was that Monero suffers from unsustainable blockchain bloat and until they fix it, it can't go anywhere.

That's the FUD story.  The fact is that XMR blockchain is asymptotically about 5.5x the size of bitcoin, and that number tends to go down over time. Your improvements are welcome.

Did I hear XMR in the wall observer thread? 

Check my post in the altcoin section to learn how you can win 0.4 XMR by doing practically nothing!

https://bitcointalk.org/index.php?topic=731365.msg8265232#msg8265232

[aminorex]

I expected more of you, Aminorex. Any advance in this field is worthy of consideration, assuming you meant anything you've previously said about privacy. But each to their own.

Once it is proven to be an advance, yes.  Privacy claims of altcoins have a dismal history.  You will have to forgive my priors.

[Cassius]

I expected more of you, Aminorex. Any advance in this field is worthy of consideration, assuming you meant anything you've previously said about privacy. But each to their own.

Once it is proven to be an advance, yes.  Privacy claims of altcoins have a dismal history.  You will have to forgive my priors.

This was sort of the point. I'm not here to pump a coin (who would do such a thing?) but to get feedback on an idea. Admittedly, it's probably the wrong place for that, but it seemed in context at the time.
Ah well.

[DubFX]

Weren't we by some btctalk users supposed to go straight to 0 since we started crashing?
Aren't you guys sad that you left?    Well, you probably will be!

[inca]

Stamp still trying to break through $520 on weak volume, China trailing even further behind. It would take a brave (or just foolish) soul to go long in this spot. We haven't even seen blood in the streets yet, but it will happen.

I'm still unsure whether we're going to drop tonight, or if we'll move sideways until the weekend. I would guess $400s will happen sooner rather than later though.

Ssh you silly book talker!