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

[razorramon]

473 . CodeRed!SELLSELLSELL

Why in the hell would you sell at 473?

You're supposed to BUY low and sell high!

Edit: never mind...I think I missed the sarcasm.  My sarcasm meter wasn't properly calibrated.

problem is...there is no higher...except you are fine with scalping 5$

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[findftp]

We will see when you lost a few thousand dollars before you realize that you lived in the bubble and didn't see the downfall coming

sometimes superior things just don't make it

maybe in a couple of years a bitcoin 3.0 will make it...proprietary...from the government

They already have something like that,... it's called dollar. Both digital and paper wallets available.


But don't worry people, my crystal TA ball says the big moon rally begins roughly 25 september (plus minus two weeks)
If not, I will sell all crypto because then we are really doomed.

[oda.krell]

...

Thanks for the interesting discussion.

I agree that even in long-term scale only half of reasons for BTC price are "external" ones. The second half is caused by mass psychology machinery. One example is rally - positive feedback loop aka self-fulfilling prophesy: nobody sells because nobody sells. Now you gave us the second example of the same self-fulfilling prophecy: miners sell because miners sell.

I have to agree with you: currently it makes sense for miners to sell most of mined coins immediately after mining, to speedup capital turnaround. And it's better to sell OTC, to avoid slippage. But by the same reason, it would make sense for them to include a clause in the contract: "do not sell the purchased coins (below XXX$)". The clause would be very easy to control, thanks to the blockchain. Which makes the price suppression hypothesis a bit less likely one.

As for 2012, I still suspect the MtGox coins. 750K bitcoins is a huge amount, we can be 95% sure they were stolen and 80% sure most of them were sold in the following months. Such amount cannot be sold without a trace and I believe the trace is either the slide from $32 to $2, or the following one-year stagnation. Without this dumping the magnitude of the slide and the stagnation would be much smaller.
 
P.S. It would be interesting to see the moment when miners will switch to "don't sell" mode.

I see now. Didn't at first get your point about the connection between Mtgox and the 2012 period. Yes, I agree, absolutely a possibility. I have a hard time believing BTC scammers/criminals are comfortable being long term holders, speculating on price increase. It's already clear that it will be increasingly difficult to have meaningful privacy using Bitcoin (hence: the alternative cryptos targeting that niche), so applying the simple "What would I do test", I probably would try to get out of the position as fast as possible, without tanking price too much. Too bad we'll probably never know for sure what happened :/

[aminorex]

Weak minds are incapable of vision, conviction.  Weak minds connect to weak hands.  Thus does wealth gravitate to those who are able to form sound conclusions and retain them in the face of an onslaught of deceit.  With strong hands we scale the mountains of adversity.

[ChartBuddy]

Explanation

[razorramon]

Weak minds are incapable of vision, conviction.  Weak minds connect to weak hands.  Thus does wealth gravitate to those who are able to form sound conclusions and retain them in the face of an onslaught of deceit.  With strong hands we scale the mountains of adversity.

now that my bull glasses are off this sounds so ridiculous

[Blue]

today i felt really bullish

...although

on second thought

the correct spelling must be

Nullish !

[shmadz]

Weak minds are incapable of vision, conviction.  Weak minds connect to weak hands.  Thus does wealth gravitate to those who are able to form sound conclusions and retain them in the face of an onslaught of deceit.  With strong hands we scale the mountains of adversity.

now that my bull glasses are off this sounds so ridiculous

I hope you traded those glasses for tissues to wipe your tears when this train leaves you behind.

[razorramon]

Weak minds are incapable of vision, conviction.  Weak minds connect to weak hands.  Thus does wealth gravitate to those who are able to form sound conclusions and retain them in the face of an onslaught of deceit.  With strong hands we scale the mountains of adversity.

now that my bull glasses are off this sounds so ridiculous

I hope you traded those glasses for tissues to wipe your tears when this train leaves you behind.

you mean the train to nowhere?

[hmmkay]

Weak minds are incapable of vision, conviction.  Weak minds connect to weak hands.  Thus does wealth gravitate to those who are able to form sound conclusions and retain them in the face of an onslaught of deceit.  With strong hands we scale the mountains of adversity.

now that my bull glasses are off this sounds so ridiculous

I hope you traded those glasses for tissues to wipe your tears when this train leaves you behind.

you mean the train to nowhere?

You do realize that in-between 'bubbles' there are always people talking like it's the end of bitcoin.
Thing is, the last year has been exceptionally well for bitcoin with adoption and growth of the network. You do the math on what the price eventually does.

[grappa_barricata]

[shmadz]

Weak minds are incapable of vision, conviction.  Weak minds connect to weak hands.  Thus does wealth gravitate to those who are able to form sound conclusions and retain them in the face of an onslaught of deceit.  With strong hands we scale the mountains of adversity.

now that my bull glasses are off this sounds so ridiculous

I hope you traded those glasses for tissues to wipe your tears when this train leaves you behind.

you mean the train to nowhere?

Hehe, nice one

The moon is far away, sometimes it's difficult to see, and it appears like you're going nowhere.

That's when you need the vision to see beyond the facade, maybe you should have traded bull glasses for future vision binoculars, then you could see the destination.

[razorramon]

you mean the train to nowhere?

You do realize that in-between 'bubbles' there are always people talking like it's the end of bitcoin.
Thing is, the last year has been exceptionally well for bitcoin with adoption and growth of the network. You do the math on what the price eventually does.

This is what kept me going for so long

the problem is you need BIG money to make a significant move upwards...but there is no big money...just some enthusiasts kept the price up the last weeks when the downtrend was inevitable...i would not say bitcoin will be gone...but only people left in bitcoin will be enthusiasts with a lot of investments...the technicaffine average joe (more or less like me) is getting out and will not come back....too much money is already burned

[empowering]

I freaked out and cashed out my initial investment (1.5k USD) + 10K USD.
Even SEPA´d the money to my bank so from now on, with the few coins i got left, it´s just play-for-fun  

Oldbones - new account

[empowering]

looks like i am a lucky weak hand...lol

oldbones - new account

[macsga]

This is what kept me going for so long

the problem is you need BIG money to make a significant move upwards...but there is no big money...just some enthusiasts kept the price up the last weeks when the downtrend was inevitable...i would not say bitcoin will be gone...but only people left in bitcoin will be enthusiasts with a lot of investments...the technicaffine average joe (more or less like me) is getting out and will not come back....too much money is already burned

Understanding bitcoin requires several skills (ie: Advanced Mathematics, Econometrics, Social Engineering, to name a few) while participating ONLY a leap of faith. Yes, I know the wealthy people are now only the 1% of the general population worldwide. Now I want you to think hard:

If BTC becomes a "Store of Value" do you think this percentage will change?

Think again.

[grappa_barricata]

I freaked out and cashed out my initial investment (1.5k USD) + 10K USD.
Even SEPA´d the money to my bank so from now on, with the few coins i got left, it´s just play-for-fun  

Oldbones - new account

looks like i am a lucky weak hand...lol

razorramon - new account

[KFR]

https://au.finance.yahoo.com/q/bc?s=TSLA&t=2y

[razorramon]

i don't believe in faith
i got a degree in psychology and computer science
guess i should have made some more classes in economics as well

hardest thing to learn with bitcoins was to cut my losses...and i am happy i learned that before everything got completely wrecked

[ChartBuddy]

Explanation