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

[Mervyn_Pumpkinhead]

You poor bastards..
After the MtGox fiasco, no one with a college degree will invest any serious sums before they can have proper legal guarantee from the exchanges and it will finally become clear what exactly happened to the missing MtGox coins. People are only guessing at the moment, that maybe someone stole those coins over time and sold them already. But this guesstimate is useless, and it's just as probable that the coins were stolen in one big heist and now someone has the power to crash the entire market to it's knees.
Bitcoin price is currently only experiencing these small pump'n'dump waves, while money is slowly moving out of the market. The market is currently only a playground for gamblers and fanatics.

[ChartBuddy]

Explanation

[falllling]

You poor bastards..
After the MtGox fiasco, no one with a college degree will invest any serious sums before they can have proper legal guarantee from the exchanges and it will finally become clear what exactly happened to the missing MtGox coins. People are only guessing at the moment, that maybe someone stole those coins over time and sold them already. But this guesstimate is useless, and it's just as probable that the coins were stolen in one big heist and now someone has the power to crash the entire market to it's knees.
Bitcoin price is currently only experiencing these small pump'n'dump waves, while money is slowly moving out of the market. The market is currently only a playground for gamblers and fanatics.

correct, bitcoin is going to nowhere but down!

[barbs]

You poor bastards..
After the MtGox fiasco, no one with a college degree will invest any serious sums before they can have proper legal guarantee from the exchanges and it will finally become clear what exactly happened to the missing MtGox coins. People are only guessing at the moment, that maybe someone stole those coins over time and sold them already. But this guesstimate is useless, and it's just as probable that the coins were stolen in one big heist and now someone has the power to crash the entire market to it's knees.
Bitcoin price is currently only experiencing these small pump'n'dump waves, while money is slowly moving out of the market. The market is currently only a playground for gamblers and fanatics.

Unfortunately .. This is why I've taken my profits and kept 1 BTC in a wallet for now

I don't think much can happen until mtgox is resolved to any degree.

[JayJuanGee]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.   

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

Maybe you did NOT inadequately summarize him on purpose, but you are putting a lot of new ideas into his communication that he did NOT assert.

In his statement, he is merely suggesting that all sellers have gotten out already a long time ago, and there are NO sellers left.  YES>>>> Maybe he is exaggerating a little bit, b/c there are going to be some exceptions to his assertion; however, what Rpietila is saying is largely true and accurate reflection of what is currently happening in the bitcoin space. 

The truth of the matter is that there has been a lot of time for sellers to get out at a lot of prices since $1163 in December 2013.  Currently, we ONLY have a large majority of hardcore bitcoiners who are left in the BTC scene (and there are fewer and fewer weak hands or fewer and fewer who are NOT in the business of HODLing and accumulating more coins), they are largely manipulating prices downward in order to attempt to accumulate more... and there are only rare exceptions to this general thing that is currently occurring in the BTC space. 

NOW if some new circumstances develop, then Rpietila's statement will NO longer be true; however, for the moment, he has accurately depicted a general statement and/or outline for what is going on in BTC space.

[tarmi]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.    

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

Maybe you did NOT inadequately summarize him on purpose, but you are putting a lot of new ideas into his communication that he did NOT assert.

In his statement, he is merely suggesting that all sellers have gotten out already a long time ago, and there are NO sellers left.  YES>>>> Maybe he is exaggerating a little bit, b/c there are going to be some exceptions to his assertion; however, what Rpietila is saying is largely true and accurate reflection of what is currently happening in the bitcoin space.  

no, it is not true.

big asic mining companies will dump their coins no matter what the price is.

[niothor]

You poor bastards..
After the MtGox fiasco, no one with a college degree will invest any serious sums before they can have proper legal guarantee from the exchanges and it will finally become clear what exactly happened to the missing MtGox coins. People are only guessing at the moment, that maybe someone stole those coins over time and sold them already. But this guesstimate is useless, and it's just as probable that the coins were stolen in one big heist and now someone has the power to crash the entire market to it's knees.
Bitcoin price is currently only experiencing these small pump'n'dump waves, while money is slowly moving out of the market. The market is currently only a playground for gamblers and fanatics.

FTFY

After the gox fiasco nobody with a kindergarden degree will store his coins on an exchange.

This and only this and nothing more.

[JayJuanGee]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.   

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

he is the prophet of desperate people who cant decide for them selves, most of what he say doesn't make any sense to sane people, but desperate delusional people always tend to believe him and defend his nonsense.

YES.... Mmitech has been wanting the price to go down to the $300s  - at least that is what he has been asserting when he sold in the mid $600s and in the mid $500s.  So yes mmitech talk your book, and maybe you will get lucky (I have my doubts, but it is possible as a long shot that you will get lucky and then be able to double your stash of 50 BTC or whatever lifelong stash you happen to have left from all your LTC losses).

[JayJuanGee]

You poor bastards..
After the MtGox fiasco, no one with a college degree will invest any serious sums before they can have proper legal guarantee from the exchanges and it will finally become clear what exactly happened to the missing MtGox coins. People are only guessing at the moment, that maybe someone stole those coins over time and sold them already. But this guesstimate is useless, and it's just as probable that the coins were stolen in one big heist and now someone has the power to crash the entire market to it's knees.
Bitcoin price is currently only experiencing these small pump'n'dump waves, while money is slowly moving out of the market. The market is currently only a playground for gamblers and fanatics.

Pretty much Mt. Gox is a non-factor at the moment.. or a minor factor.. NOT as big as you are making it out to be.  Also, the stolen lost coins (probably 600k coins have already been sold or absorbed into the current price).   It is tough to shock with such exaggerations, no?       

[bigdave]

Is it me or is this suspicious?

There is a wall at 507 on Stamp and a wall at 508 on Bitfinex with practically the same amount of bitcoins ~150. The only difference is the walls are $1 apart from each other.

[JayJuanGee]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.    

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

Maybe you did NOT inadequately summarize him on purpose, but you are putting a lot of new ideas into his communication that he did NOT assert.

In his statement, he is merely suggesting that all sellers have gotten out already a long time ago, and there are NO sellers left.  YES>>>> Maybe he is exaggerating a little bit, b/c there are going to be some exceptions to his assertion; however, what Rpietila is saying is largely true and accurate reflection of what is currently happening in the bitcoin space.  

no, it is not true.

big asic mining companies will dump their coins no matter what the price is.

You have any evidence of this?  or just a bare assertion that is NOT supported by anything beyond your mere thoughts?

[Mervyn_Pumpkinhead]

You poor bastards..
After the MtGox fiasco, no one with a college degree will invest any serious sums before they can have proper legal guarantee from the exchanges and it will finally become clear what exactly happened to the missing MtGox coins. People are only guessing at the moment, that maybe someone stole those coins over time and sold them already. But this guesstimate is useless, and it's just as probable that the coins were stolen in one big heist and now someone has the power to crash the entire market to it's knees.
Bitcoin price is currently only experiencing these small pump'n'dump waves, while money is slowly moving out of the market. The market is currently only a playground for gamblers and fanatics.

FTFY

After the gox fiasco nobody with a kindergarden degree will store his coins on an exchange.

This and only this and nothing more.

It's not about storing your coins on the exhanges, but about people not trusting the exchanges enough to transfer any fiat to them in the first place.

[tarmi]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.    

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

Maybe you did NOT inadequately summarize him on purpose, but you are putting a lot of new ideas into his communication that he did NOT assert.

In his statement, he is merely suggesting that all sellers have gotten out already a long time ago, and there are NO sellers left.  YES>>>> Maybe he is exaggerating a little bit, b/c there are going to be some exceptions to his assertion; however, what Rpietila is saying is largely true and accurate reflection of what is currently happening in the bitcoin space.  

no, it is not true.

big asic mining companies will dump their coins no matter what the price is.

You have any evidence of this?  or just a bare assertion that is NOT supported by anything beyond your mere thoughts?

you cant pay your electricity with bitcoins.

and I know that there are asic farms that are spending 1 mil of $ every month.

[grahvity]

OKCoin 15m H&S could get really interesting soon

[mmitech]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.   

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

he is the prophet of desperate people who cant decide for them selves, most of what he say doesn't make any sense to sane people, but desperate delusional people always tend to believe him and defend his nonsense.

YES.... Mmitech has been wanting the price to go down to the $300s  - at least that is what he has been asserting when he sold in the mid $600s and in the mid $500s.  So yes mmitech talk your book, and maybe you will get lucky (I have my doubts, but it is possible as a long shot that you will get lucky and then be able to double your stash of 50 BTC or whatever lifelong stash you happen to have left from all your LTC losses).

I am investing back only €10K, I see perma-bulls telling people how 1BTC will make them millionaires so I decided to stop being a greedy bastard and have few millions instead of fighting for all the bitcoins, we have to give the chance for others to have coins as well, right ?

I really wont invest more than €10K, my first investment was around € 3-4K and it played really good, so investing the triple of my first investment and cashing all the profits out makes more sense to me

[Mervyn_Pumpkinhead]

You poor bastards..
After the MtGox fiasco, no one with a college degree will invest any serious sums before they can have proper legal guarantee from the exchanges and it will finally become clear what exactly happened to the missing MtGox coins. People are only guessing at the moment, that maybe someone stole those coins over time and sold them already. But this guesstimate is useless, and it's just as probable that the coins were stolen in one big heist and now someone has the power to crash the entire market to it's knees.
Bitcoin price is currently only experiencing these small pump'n'dump waves, while money is slowly moving out of the market. The market is currently only a playground for gamblers and fanatics.

Pretty much Mt. Gox is a non-factor at the moment.. or a minor factor.. NOT as big as you are making it out to be.  Also, the stolen lost coins (probably 600k coins have already been sold or absorbed into the current price).   It is tough to shock with such exaggerations, no?      

MtGox is not a factor in this forum, but most of the people in this forum are not a factor in bitcoins price. In an outside investors perspective, it's a big factor. People outside this forum don't care about your optimistic guesstimate on the faith of MtGox coins. They want something solid to lean on, when dealing with investments. Otherwise they are not investors, but gamblers. And bitcoin is currently too bloated to have gamblers alone start a new bullrun.

[JayJuanGee]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.    

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

Maybe you did NOT inadequately summarize him on purpose, but you are putting a lot of new ideas into his communication that he did NOT assert.

In his statement, he is merely suggesting that all sellers have gotten out already a long time ago, and there are NO sellers left.  YES>>>> Maybe he is exaggerating a little bit, b/c there are going to be some exceptions to his assertion; however, what Rpietila is saying is largely true and accurate reflection of what is currently happening in the bitcoin space.  

no, it is not true.

big asic mining companies will dump their coins no matter what the price is.

You have any evidence of this?  or just a bare assertion that is NOT supported by anything beyond your mere thoughts?

you cant pay your electricity with bitcoins.

and I know that there are asic farms that are spending 1 mil of $ every month.

If you assume that ASIC farms are stretching their finances so thin that they do NOT have any fiat and they only have BTC,then maybe they would have to sell some of them.  HOWEVER, if they realize that BTC are currently way under priced and that BTC are likely to appreciate in value considerably, then they may reconsider whether they will cash out. 

Additionally, if they realize that the BTC that they HODL are more likely to go up in value if they do NOT sell at low prices, then they will have a greater incentive to HODL until the prices go a bit higher.  I would think that they have budgeted for downward trends and sideways trends in order that they do NOT have to sell out of desperation.  NO one likes to have to sell out of desperation (and I am sure that there may be some miners that are thinly stretched and forced to sell, but that may be the exception rather than the rule).

Accordingly, we still need evidence if you are going to assert that they are selling contrary to their better interest to HODL... or at least to minimize selling if they need to do it.

[tarmi]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.    

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

Maybe you did NOT inadequately summarize him on purpose, but you are putting a lot of new ideas into his communication that he did NOT assert.

In his statement, he is merely suggesting that all sellers have gotten out already a long time ago, and there are NO sellers left.  YES>>>> Maybe he is exaggerating a little bit, b/c there are going to be some exceptions to his assertion; however, what Rpietila is saying is largely true and accurate reflection of what is currently happening in the bitcoin space.  

no, it is not true.

big asic mining companies will dump their coins no matter what the price is.

You have any evidence of this?  or just a bare assertion that is NOT supported by anything beyond your mere thoughts?

you cant pay your electricity with bitcoins.

and I know that there are asic farms that are spending 1 mil of $ every month.

If you assume that ASIC farms are stretching their finances so thin that they do NOT have any fiat and they only have BTC,then maybe they would have to sell some of them.  HOWEVER, if they realize that BTC are currently way under priced and that BTC are likely to appreciate in value considerably, then they may reconsider whether they will cash out.  

Additionally, if they realize that the BTC that they HODL are more likely to go up in value if they do NOT sell at low prices, then they will have a greater incentive to HODL until the prices go a bit higher.  I would think that they have budgeted for downward trends and sideways trends in order that they do NOT have to sell out of desperation.  NO one likes to have to sell out of desperation (and I am sure that there may be some miners that are thinly stretched and forced to sell, but that may be the exception rather than the rule).

Accordingly, we still need evidence if you are going to assert that they are selling contrary to their better interest to HODL... or at least to minimize selling if they need to do it.

I really dont care if you need more evidence. For big miners, mining is a business, so they have to cover their costs from what they mine.

If they pay electricity out of their pocket because they think that the price will go up, they could just stop being a mining business and buy the coins instead.

[JayJuanGee]

Yes, inadequately summarize what Rpietila said, and then assert that what he said is "silly."  That helps us to better understand the situation.   

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

he is the prophet of desperate people who cant decide for them selves, most of what he say doesn't make any sense to sane people, but desperate delusional people always tend to believe him and defend his nonsense.

YES.... Mmitech has been wanting the price to go down to the $300s  - at least that is what he has been asserting when he sold in the mid $600s and in the mid $500s.  So yes mmitech talk your book, and maybe you will get lucky (I have my doubts, but it is possible as a long shot that you will get lucky and then be able to double your stash of 50 BTC or whatever lifelong stash you happen to have left from all your LTC losses).

I am investing back only €10K, I see perma-bulls telling people how 1BTC will make them millionaires so I decided to stop being a greedy bastard and have few millions instead of fighting for all the bitcoins, we have to give the chance for others to have coins as well, right ?

I really wont invest more than €10K, my first investment was around € 3-4K and it played really good, so investing the triple of my first investment and cashing all the profits out makes more sense to me

Well, maybe you will begin to become more reasonable if you are NOT attempting extremes, even though you are still tending to throw out denigrating language.  Yes, there are some bulls who retain what seems to be unrealistic expectations of instantly becoming rich.. but you should know as well as anyone that that kind of talk is fairly harmless and even should be taken with a grain of salt.

Also, there is NO need to talk about this as a competitive endeavor, and if we invest in reasonable ways, then a lot of us likely will be able to improve our lots in life by acquiring more wealth through the appreciation on the value of bitcoins.  Surely, it may NOT go exactly how planned, but there can be some shared prosperity.  Also, attempts to hoard too much would NOT do to much good, b/c to some extent the success of bitcoin is dependent upon greater and greater adoption and through that adoption, some of the people are going to get rich and maybe even some already rich are going to get richer than early adopters my manipulation and other means.. even luck.  But my point is that it is more mentally healthy to consider how to best invest our own lot rather than being worried about the lots of others, whether they are doing well or NOT as compared with us.

[ChancellorOnABrink]

OKCoin 15m H&S could get really interesting soon
https://i.imgur.com/fEJATdC.png

Nice orderbook, such power ! much prevision