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

[EvilPanda]

A 1k dump at 417. 

Really, that is all you need to know about the market for the last few months.

+1

Why did you sell your coins? Some people dumped so I thought it's the end of bitcoin and dumped too.
Why did you buy more? I saw some people buying, so I thought a pump is on the way.

[JayJuanGee]

What would be dead is the inflated expectations of a few overzealous people. That's all.

So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them?

Honestly answer the question.  2014 is nearly over, it's been 10 months.

Maybe not greedy but naive? Bitcoin went up x100 in 2013. Do you expect this to just maintain its value without major corrections?

If you want to retain value short to mid term at least, then Bitcoin is not the asset to do that. Bitcoin is an asset to look for high growth, and with that growth comes the cost of RISK.

Sticky please. First post everyone should read who enters this forum.

This is what frustrates me about the constant touting of bitcoin as a "store of value." Ask anyone who bought in during 2014 how that's working out for them.

Now go ask the same question to those who bought in 2012/2013 and come back in a few years.

Is that what a "store of value" is? Buy today, lose more than 1/2 the value in several months, and then hope we have a bubble that goes 10x my initial buy-in a few years later? Is that a "store of value"?

scarsbergholden:  You seem to be exaggerating a little bit and playing ignorant.  I believe that store of value merely means that by the time you cash out, the asset is worth at least the same and potentially more than it was worth when you purchased it.   Surely, with storage of value, you would probably like it to hold at least the value of relatively stable storage of value mechanisms... maybe expecting some appreciation of value between 3 to 5% per year. Of course, if it gains greater value than otherwise stable value storage vehicles, then that would be icing on the cake.

[DaRude]

Last dump was a desperate shorter. BFX shorts went up by about 1k looks like someone a bit too late to a party, calling a bottom

[inca]

A 1k dump at 417.  

Really, that is all you need to know about the market for the last few months.

Yes sophisticated traders often dump 400,000 dollars worth of coins in an instant to obtain best price. Ha.

EDIT: Oh and can the mods please silence that little shit sevvero please..

[Sandia]

A 1k dump at 417. 

Really, that is all you need to know about the market for the last few months.

+1

Why did you sell your coins? Some people dumped so I thought it's the end of bitcoin and dumped too.
Why did you buy more? I saw some people buying, so I thought a pump is on the way.

It was 1 seller, across 4 consecutive orders.  Too fast to be multiple sellers.

[sidhujag]

Waitign for noobs to come say.. what happened, wats the news why down? Thats when I buy.

This happened so many times since 1200. So how much did you buy?

Only 100

[spooderman]

I actualy like this massive dump.

It brings some fresh sperm in this raped market.

Poetry.

[Hunyadi]

Big players are just doing some shake out.

[Erdogan]

Why are mods deleting threads on here? What do you have to hide?

Conspiracy! Nobody must know that price can go down!

[EvilPanda]

A 1k dump at 417.  

Really, that is all you need to know about the market for the last few months.

+1

Why did you sell your coins? Some people dumped so I thought it's the end of bitcoin and dumped too.
Why did you buy more? I saw some people buying, so I thought a pump is on the way.

It was 1 seller, across 4 consecutive orders.  Too fast to be multiple sellers.

Looks like failed to start a panic. I wonder if he starts buying back or just backs away.

[David M]

I'm a buyer at $535, $518 and $504.

Stop loss at $441.

Those trades got stopped out. That was a $300 loss.

I'm buying again at 463, 447 and 417

Stop loss at 358.

Let's see how these go....

[grappa_barricata]

[jeezy]

I actualy like this massive dump.

It brings some fresh sperm in this raped market.

Poetry.

[spooderman]

Why are mods deleting threads on here? What do you have to hide?

Conspiracy! Nobody must know that price can go down!

Price can do what

[upupup]

What would be dead is the inflated expectations of a few overzealous people. That's all.

So it's greedy if a bitcoiner buys a bitcoin sometime, ANYTIME in 2014, and expects it to more or less retain it's value? Should no one have bought any bitcoins AT ALL in 2014 and held them?

Honestly answer the question.  2014 is nearly over, it's been 10 months.

Maybe not greedy but naive? Bitcoin went up x100 in 2013. Do you expect this to just maintain its value without major corrections?

If you want to retain value short to mid term at least, then Bitcoin is not the asset to do that. Bitcoin is an asset to look for high growth, and with that growth comes the cost of RISK.

Sticky please. First post everyone should read who enters this forum.

This is what frustrates me about the constant touting of bitcoin as a "store of value." Ask anyone who bought in during 2014 how that's working out for them.

Now go ask the same question to those who bought in 2012/2013 and come back in a few years.

Is that what a "store of value" is? Buy today, lose more than 1/2 the value in several months, and then hope we have a bubble that goes 10x my initial buy-in a few years later? Is that a "store of value"?

scarsbergholden:  You seem to be exaggerating a little bit and playing ignorant.  I believe that store of value merely means that by the time you cash out, the asset is worth at least the same and potentially more than it was worth when you purchased it.   Surely, with storage of value, you would probably like it to hold at least the value of relatively stable storage of value mechanisms... maybe expecting some appreciation of value between 3 to 5% per year. Of course, if it gains greater value than otherwise stable value storage vehicles, then that would be icing on the cake.

Its the worst storage of value ever... At least for a short term or if not riding the waves.

[oda.krell]

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO, it's a store of value being built. Do you actually believe that because some monopoly money went into bitcoin the last few years, it's already a store of value? NO, but the potential of it becoming a store of value is there.

Agreed with that as well.

I wonder why so many people in here are so binary in their thinking: Bitcoin is a terrible store of value currently (and a highly speculative asset), a not-too-shabby medium of transfer, and absolutely not a unit of account. If things go well, it might be a store of value in the future, and the likelihood of that happening is exactly what we're collectively determining/discovering here, through the markets.

I bolded the key word. Anything can happen in the future. Bitcoin might be worth zero in the future as well. My point was that there is a prevalent attitude in this community that bitcoin is a store of value and that buying now is always a good idea. I'd not even consider such terms as "store of value" until bitcoin is much more entrenched.

It is all these things now. It has to be, if not, it is not money. You vision is fogged if you think that some fiat has better quality. Fuck, when you spend the petty cash you get for your astroturfing on that teddy bear, you depress the value of dollar and support the value of teddy bears!

First: you sound angry. Nothing in scarsbergholden's post warrants that, in my opinion.

Second: my Euro denominated bank account hasn't lost more than 50% of its purchasing power in the last half year, as far as I can tell. So, in the short to mid term then, the Euro was a vastly better store of value than Bitcoin. Care to argue with those facts?

There are, extremely broadly speaking, three types of posters in here:

Those who are convinced Bitcoin is going nowhere but down, on any time scale. Trolls aside, that means they'll actively short to make money.

Those who are convinced Bitcoin can and must go up. Success of crypto as a global currency and store of value almost guaranteed, in the long run. They buy and buy and buy, and hope for the best.

And then there's those who look at it as an experiment. Could work. Could fail. Price fluctuations just represent that uncertainty. They trade in whatever way is appropriate at the time.


The problem is that the first group and the third group are most of the time conflated in here by those in the second group. But that's an unrelated problem :)

[findftp]

Last dump was a desperate shorter. BFX shorts went up by about 1k looks like someone a bit too late to a party, calling a bottom

Thanks, best  buy advice ever.
I'm all in.
Thank you for confirming my confirmation biased bitcoin world reserve currency view.

[alexeft]

Looks like the chinese miners (and not only them) are shutting down their machinery!!!! This IS the bottom!!!

[JayJuanGee]

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO, it's a store of value being built. Do you actually believe that because some monopoly money went into bitcoin the last few years, it's already a store of value? NO, but the potential of it becoming a store of value is there.

Okay, great. Let me know when we get there. For now, it's simply silly to me to see so many touting it as such. There is also potential for buttcoin to be worth zero.

I don't know what is buttcoin; however, I consider Bitcoin to be a storage of value and a sort of hedge against the dollar. 

I do NOT consider myself to be silly.

Bitcoin is NOT my only storage of value investment vehicle, and accordingly, I use bitcoin as what I consider to be a complementary hedge within my total investment portfolio.  Also, I started investing in Bitcoin in late November 2013 (when BTC prices were near their highest price points); however, my timing has not changed my perspective of BTC as a storage of value - even though my timing has affected my method of investing incrementally and over time (rather than placing all of my liquid assets into BTC at one time).

In sum, I consider it to be silly to have simplistic thinking about how others are employing their investment tools and allocating their various risks, unless you know something about their total investment plans and their timeline and their personal goals.

[ImI]

Inching closer to 410. Roughly 860btc to that point. Get your cheap coins.

But i was told at 600 those were cheap coins. And at 500. And at 900. Now you're telling they are cheap at 410? So confusing this.

410 is cheaper than 500, 600 and 900. Not sure how simple math can be confusing.

So at 600 they weren't cheap and i was lied to?

Once again 600 was cheaper than 900 so no you wasn't lied to.

sorry dave, but that just deserves a big facepalm.