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

[mooncake]

I remembered I saw somewhere before that monitoring the increase in the number of bitcoin wallets is not a good metric to measure the rate of bitcoin adoption. But I cannot remember why that is so. Does anyone know?

Well in general monitor addresses isn't that useful as the more people are educated about not reusing addresses and they start using change addresses it doesn't really tell you much.

As far as wallets go, a single person can create 10 wallets on blockchain.info, the metric goes up but really there doesn't have to be any new interest for that metric to go up.

I personally think number of transactions (excluding popular addresses such as satoshi dice or pool payouts) is a better metric https://blockchain.info/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=

Speaking of number of transactions....have you noticed that each "bitcoin boom" (as I like to call them) starts when the number of transactions reaches the previous bubble's?

I didn't know a single person can create 10 wallets. To be more precise, I suppose you mean account rather than person? I don't see the reason of having multiple wallets though. Multiple addresses I can understand but not multiple wallets.

I can see the number of transactions is increasing. To the moon!

I login to Blockchain.info just now and try to create multiple wallets. Can't do that.

[NotLambchop]

...
I login to Blockchain.info just now and try to create multiple wallets. Can't do that.

Why not?  How are you doing it?

Edit:  Nevermind, just don't do the bolded part, and you're good to go.

[Threebits]

I remembered I saw somewhere before that monitoring the increase in the number of bitcoin wallets is not a good metric to measure the rate of bitcoin adoption. But I cannot remember why that is so. Does anyone know?

Well in general monitor addresses isn't that useful as the more people are educated about not reusing addresses and they start using change addresses it doesn't really tell you much.

As far as wallets go, a single person can create 10 wallets on blockchain.info, the metric goes up but really there doesn't have to be any new interest for that metric to go up.

I personally think number of transactions (excluding popular addresses such as satoshi dice or pool payouts) is a better metric https://blockchain.info/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=

Speaking of number of transactions....have you noticed that each "bitcoin boom" (as I like to call them) starts when the number of transactions reaches the previous bubble's?

I didn't know a single person can create 10 wallets. To be more precise, I suppose you mean account rather than person? I don't see the reason of having multiple wallets though. Multiple addresses I can understand but not multiple wallets.

I can see the number of transactions is increasing. To the moon!

I login to Blockchain.info just now and try to create multiple wallets. Can't do that.

Really? I thought one could have endless wallets, and that's the reason why wallet increasing is not necessarily a true correlation to user increasing.

Well, if one can have only one wallet or at most ten wallets at blockchain. Info, things are different. But is it really true?

[iram3130]

Explanation

Explanation

And we have a lift off!!

I really like when green field is more up than down.

I was waiting whole week for that situation - but still like always I haven't got money to buy BTC - but I truly suggest that this is very good moment to buy before the price will go up $30+.


Regards.

Hahah, you again predicted the market, even fail to read many times.
I never saw even once when you were right to predict right.

I sure hope he isn't trading. I don't think i've seen anyone being so wrong so often here.

Same thinking here, he just came here to entertain himself and other.
Otherwise I do not think at all, he has very good knowledge about market reading.

[derpinheimer]

Something is going to happen soon, Huobi got a 1k+ bid support, which is very unusual to see such walls close up the order book. bitfinex has the 3k+ sell wall, so there's certainly going to be some action soon, question is which direction does it go?

Which way have we been trending? 

[ChartBuddy]

Explanation

[mooncake]

Really? I thought one could have endless wallets, and that's the reason why wallet increasing is not necessarily a true correlation to user increasing.

Well, if one can have only one wallet or at most ten wallets at blockchain. Info, things are different. But is it really true?

You can have multiple accounts with multiple wallets. You cannot have single account with multiple wallets.

[Teppino]

I have a question i hope someone with more insight of market could answer:
Let's say you have a large sum of stolen bitcoins, i mean really a lot of them.
A lot of people, motivated and skilled in blockchain analysis is rightfully after you.
What can you do? You can't trust mixers or any other gambling sites, because the magnitude of the operation will either take too long or expose you.
In my opinion the only thing you can do is transfer them anonimously in a exchange, sell them and buyback with a legit account(s).
For this to work you must choose an exchange with good volume and also without hidden orders books, for those would let you know beforehand the entity of the inevitable loss you are going to take in the operation.

Could this be? don't throw tomatoes please  

[Teppino]

I have a question i hope someone with more insight of market could answer:
Let's say you have a large sum of stolen bitcoins, i mean really a lot of them.
A lot of people, motivated and skilled in blockchain analysis is rightfully after you.
What can you do? You can't trust mixers or any other gambling sites, because the magnitude of the operation will either take too long or expose you.
In my opinion the only thing you can do is transfer them anonimously in a exchange, sell them and buyback with a legit account(s).
For this to work you must choose an exchange with good volume and also without hidden orders books, for those would let you know beforehand the entity of the inevitable loss you are going to take in the operation.

Could this be? don't throw tomatoes please  

To enter an exchange, Know Your Customer regulations mean identification may be necessary. Crypto to crypto is best.

I don't know, i knew that KYC rules were enforced only to fiat transactions (deposit/withdrawals), i'm sure it's like that in at last one major exchange.
Also i don't think crypto to crypto is suitable because 1) a lot of coins are worthless, therefore you'd end losing more than you already lose by dumping and buying back 2) the few that may have a future don't have enough liquidity to sustain such transfer of wealth.

[Torque]

Every day, for weeks on end, all I see is bots trading back and forth.  When are we gonna get some real buyers again?

[grappa_barricata]

These new, lower-priced giant walls indicate an immediate future visit in the 450 area. Or not. You can't be sure of anything these days.
LOL at Warren Buffer SO. 

[adamstgBit]

she looks crazy bullish.

[ChartBuddy]

Explanation

[Blazed]

she looks crazy bullish.

I agree a nice bull run is due anytime I hope!  My problem is always the same thing...I just hate to see them leave my wallets 

[fonsie]

Something is going to happen soon, Huobi got a 1k+ bid support, which is very unusual to see such walls close up the order book. bitfinex has the 3k+ sell wall, so there's certainly going to be some action soon, question is which direction does it go?

Which way have we been trending?  

If I take a look at the last 5 yaers, a big UP trend.

[adamstgBit]

you sons of bitches know how i feel.

[justusranvier]

There cannot be rigorous arguments in that sort of subject.

Called it.

Maintaining your belief requires you to preemptively deny the possibility of being wrong, just like any other religion.

[creekbore]

I think I have seen a correlation: the more the BTC price struggles in a bear market, the more cultists are energised to bash Jorge.

[grappa_barricata]

Something is going to happen soon, Huobi got a 1k+ bid support, which is very unusual to see such walls close up the order book. bitfinex has the 3k+ sell wall, so there's certainly going to be some action soon, question is which direction does it go?

I think those are to trick chinese traders in a false sense of security before they go to sleep... after they close they eyes, surprise!

[findftp]

Sorry, but the belief that it is possible to get rid of governments, and that society will be better without them, is religion.

And while there is not much historical evidence suggesting a government-less society would or would not function due to absence of data,...

I think you can safely assume the planet functioned perfectly fine billions of years without having a government.

Yes, if there are less than a few thousand people scattered through all corners of the earth, then probably there was NO government and no need for a government; however, when people started to live in community and to share resources and resources become limited, then the more need there is for a government.

Or the more likely a bully stands up because he has more power and strength than others so he can demand others to work for him.
Because others thought they were fed by him and were scared they were starting to worship him, a government was born.

If that's your understanding of what is government, then you have probably been watching too much Fox "news"

1. I don't watch television (anymore)
2. I never watched fox, I live in europe.
3. Fox is just as bad as almost any other network.