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

[NotLambchop]

Bonus points:  Name the revolutionary money service in the pic

I am disqualified, I suppose...  

Yes, yes you are.  Party pooper  But everyone else wins

*Wonder if this pic was an intentional troll by Mr. Brewster?
--German Expressionism (Miasma/nightmare/breakdown of space/logic/reason; Germany's post WW 1 financial state<==Good Times!)
--Spectacular ...empty space.  Nothing in it

[inca]

The benefit of being a holder is i can now disappear off for a month and then get the surprise of finding out about the price when i return. The price could be back in the 6xx's or have plumbed new lows. A few low ball bids on stamp just in case.

[NotLambchop]

...
No one is telling you to tell lies. Just say what bitcoin really is. Explain why it is a genuine technological innovation. Tell people about the history of money. Tell them about the gold standard, how it was decoupled, why value of currencies is eroded over time though it is no fault of theirs. Lastly, tell them what you know about the potential pitfalls of bitcoin. Leave them to make their own decision. Try not to impose your own value when explaining, you wouldn't want to do them a disservice.
...

Every time I bring up potential pitfalls of Bitcoin on this forum (not even the tech, just mundane stuff like "you're not guaranteed world domination), I'm made to feel like I just molested baby Jesus.  And, unlike JorgeStolfi, I'm a Bitcoiner (not that it should matter).
How about we practice what we preach?

[Erdogan]

Ragnar- one of the few newbies not on my ignore list  

Careful.  He (Ragnar/Fallling) is garnering your trust.  Once your defenses are down, he'll betray you in a dramatic true-believer-realizing-he's-been-duped about-face.

Treacherous, these trolls

I'd much prefer that to bitcoin_is_a_mirages approach, which is just plain boring.

I don't know, i chuckled reading about Warren Buffer.

Just waiting for the Warren Buffer stack overflow.

[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.