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

[ravenjt]

Still waiting for dem USD 300 coinz 

The sell pressure looks like it's building up again. The next step down, to either 350 or 300 looks likely over the next week, imo.
Your dream may be fulfilled in the next few weeks!

That will be tough.  It is 20k coins down to 349 on Bfx alone.  It is possible, but would take a lot of time and real effort.

I have been predicting 340 for a month, but I am beginning to doubt it.

I might have over-egged it with the one week thing - you are right.
Still, looks like the familiar pattern beginning again...to the next step down.

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[Room101]

I think this will be the last couple of days that 400 holds, I think we will be visiting 300-360 soon enough.

same, generally, but the time part is so hard to nail down. it's impossible to get the short term details right, but everything has been pointing for me to that general range. we could bounce a bit, hell, given all the shorts taken out at 400, we could bounce 30 or 40 points, but i think low-mid 300s are coming in the next couple weeks.

There are no buyers. It's that simple. The result of 9 months of dumping and chasing cheap coins.
Everybody thought that after crashing down tons of buyers were dying to get in with cheap coins. Nope. There is nobody.
Now of course i keep reading we need to hit 350 before we can get back up. And after that 260. Well, these new buyers won't suddenly appear then. Also there is no guarantee we will go back again. As i keep saying one day it will stop. People will get tired of losing money. Of getting dumped on by traders every time they invest some money.
For now the Bitcoin hype is over and we better hope for something good to happen or all your cheap coins will be just that. Cheap coins.
The question is will we learn from this situation. And the answer is most likely no.  

There has been tons of buyers that is why the price recovered to 600$ + a few months ago and there is still a lot of buyers but there is a lot of sellers as well and a lot of new coins hit the market

The Bitcoin hype will come back when the fiat currencies will show what they truly are : manipulated, inflated and unreliable for store of value

But this is not a few months ago. A few months ago tons of people started buying because they expected the price to go up. Instead they got dumped on, day after day. They sold and left and won't make that mistake again. Neither will all the people who watched it happen from the sidelines. You see, that's the "problem". These people actually do learn from their mistakes.

Keep in mind that pretty much everyone who invested in Bitcoin this year lost money. Almost a full year. Exactly at the time everyone expected something great to happen. This damaged Bitcoin so much. So many here underestimate this. They think they just can keep crashing the market, pick up cheap coins and go back up again. You can't.

After 5 or 6 years now investors are gonna say fuck it. I'm not gonna put money in something and get dumped on day after day by greedy traders obsessed with cheap coins. The previous years was ok for that. Not anymore. This year was the year to get serious. But everyone who tried to invest lost their money because of traders and dumpers. What do you expect them to do? Invest again?

From what you wrote, BTC seems a pure bubble and people buy it only because it will rise overnight. If that's sure, it's better to see BTC dies now than later. Maybe your account was newly bought, otherwise really sad to see a Hero Member saying such thing here.

+1

+1 what? An opinion of a guy who doesn't understand what he reads?

+1 at the guy pointing out you are acting like a little bitch, throwing a tanty because BTC is not going up in a straight line, saying shit that clearly gives the impression that speculating is all bitcoin is good for. Guess what moron, btc will go up again, and thank god it won't be from speculating morons who just think it is their ticket to riches, it will be because it is, you know, a useful technology, and it remains that no matter what the price. It will rise when metcalf's law says it will, not because greedy speculators get in a tizzie because they have got rich yet for doing nothing.

The price will rise as BTC is used for what it is supposed to be used for, and it does not matter one iota what speculators are thinking.

[ShroomsKit]

I think this will be the last couple of days that 400 holds, I think we will be visiting 300-360 soon enough.

same, generally, but the time part is so hard to nail down. it's impossible to get the short term details right, but everything has been pointing for me to that general range. we could bounce a bit, hell, given all the shorts taken out at 400, we could bounce 30 or 40 points, but i think low-mid 300s are coming in the next couple weeks.

There are no buyers. It's that simple. The result of 9 months of dumping and chasing cheap coins.
Everybody thought that after crashing down tons of buyers were dying to get in with cheap coins. Nope. There is nobody.
Now of course i keep reading we need to hit 350 before we can get back up. And after that 260. Well, these new buyers won't suddenly appear then. Also there is no guarantee we will go back again. As i keep saying one day it will stop. People will get tired of losing money. Of getting dumped on by traders every time they invest some money.
For now the Bitcoin hype is over and we better hope for something good to happen or all your cheap coins will be just that. Cheap coins.
The question is will we learn from this situation. And the answer is most likely no.  

There has been tons of buyers that is why the price recovered to 600$ + a few months ago and there is still a lot of buyers but there is a lot of sellers as well and a lot of new coins hit the market

The Bitcoin hype will come back when the fiat currencies will show what they truly are : manipulated, inflated and unreliable for store of value

But this is not a few months ago. A few months ago tons of people started buying because they expected the price to go up. Instead they got dumped on, day after day. They sold and left and won't make that mistake again. Neither will all the people who watched it happen from the sidelines. You see, that's the "problem". These people actually do learn from their mistakes.

Keep in mind that pretty much everyone who invested in Bitcoin this year lost money. Almost a full year. Exactly at the time everyone expected something great to happen. This damaged Bitcoin so much. So many here underestimate this. They think they just can keep crashing the market, pick up cheap coins and go back up again. You can't.

After 5 or 6 years now investors are gonna say fuck it. I'm not gonna put money in something and get dumped on day after day by greedy traders obsessed with cheap coins. The previous years was ok for that. Not anymore. This year was the year to get serious. But everyone who tried to invest lost their money because of traders and dumpers. What do you expect them to do? Invest again?

From what you wrote, BTC seems a pure bubble and people buy it only because it will rise overnight. If that's sure, it's better to see BTC dies now than later. Maybe your account was newly bought, otherwise really sad to see a Hero Member saying such thing here.

+1

+1 what? An opinion of a guy who doesn't understand what he reads?

+1 at the guy pointing out you are acting like a little bitch, throwing a tanty because BTC is not going up in a straight line, saying shit that clearly gives the impression that speculating is all bitcoin is good for. Guess what moron, btc will go up again, and thank god it won't be from speculating morons who just think it is their ticket to riches, it will be because it is, you know, a useful technology, and it remains that no matter what the price. It will rise when metcalf's law says it will, not because greedy speculators get in a tizzie because they have got rich yet for doing nothing.

The price will rise as BTC is used for what it is supposed to be used for, and it does not matter one iota what speculators are thinking.

Holy shit. What the hell is wrong with you man. Can't you fucking read? I want Bitcoin to succeed as a technology and don't want speculators to ruin it. I'm saying exactly what you are saying and then you call me a moron.
There is something seriously wrong with you. Are you drunk or something or just extremely slow?

Either way, welcome to my ignore list. Fucking idiot.

[600watt]

I think this will be the last couple of days that 400 holds, I think we will be visiting 300-360 soon enough.

same, generally, but the time part is so hard to nail down. it's impossible to get the short term details right, but everything has been pointing for me to that general range. we could bounce a bit, hell, given all the shorts taken out at 400, we could bounce 30 or 40 points, but i think low-mid 300s are coming in the next couple weeks.

There are no buyers. It's that simple. The result of 9 months of dumping and chasing cheap coins.
Everybody thought that after crashing down tons of buyers were dying to get in with cheap coins. Nope. There is nobody.
Now of course i keep reading we need to hit 350 before we can get back up. And after that 260. Well, these new buyers won't suddenly appear then. Also there is no guarantee we will go back again. As i keep saying one day it will stop. People will get tired of losing money. Of getting dumped on by traders every time they invest some money.
For now the Bitcoin hype is over and we better hope for something good to happen or all your cheap coins will be just that. Cheap coins.
The question is will we learn from this situation. And the answer is most likely no.  

There has been tons of buyers that is why the price recovered to 600$ + a few months ago and there is still a lot of buyers but there is a lot of sellers as well and a lot of new coins hit the market

The Bitcoin hype will come back when the fiat currencies will show what they truly are : manipulated, inflated and unreliable for store of value

But this is not a few months ago. A few months ago tons of people started buying because they expected the price to go up. Instead they got dumped on, day after day. They sold and left and won't make that mistake again. Neither will all the people who watched it happen from the sidelines. You see, that's the "problem". These people actually do learn from their mistakes.

Keep in mind that pretty much everyone who invested in Bitcoin this year lost money. Almost a full year. Exactly at the time everyone expected something great to happen. This damaged Bitcoin so much. So many here underestimate this. They think they just can keep crashing the market, pick up cheap coins and go back up again. You can't.

After 5 or 6 years now investors are gonna say fuck it. I'm not gonna put money in something and get dumped on day after day by greedy traders obsessed with cheap coins. The previous years was ok for that. Not anymore. This year was the year to get serious. But everyone who tried to invest lost their money because of traders and dumpers. What do you expect them to do? Invest again?

From what you wrote, BTC seems a pure bubble and people buy it only because it will rise overnight. If that's sure, it's better to see BTC dies now than later. Maybe your account was newly bought, otherwise really sad to see a Hero Member saying such thing here.

I think you are off track.
BTC is supposed to be a currency.  As a personal example, I travel to Thailand once or twice per year for business.  I don't mind keeping a few hundred USD in Thai baht when I leave, since the value is reasonably stable against the dollar (usually rising, in fact).

Now, btc, as a currency, has devalued by 60 or 70% in 10 months.  Price = exchange rate.  It takes 3 btc to buy the same Dell laptop that cost 1 btc last year.

I won't even mention store of value, which is my intended use.  
And, a greater market cap (or whatever term you want to use) allows btc to be used for many more applications.

To pretend the price/exchange rate/value is unimportant is insane.  If it is supposed to be a currency, then it definitely matters.

chill out guys, you are both right. you just have different time frames in mind. if btc should become a world currency it will become also more stable. but in order to get there it needs to scale up several orders of magnitude. that again has to be accompanied by a price rise in the same order of magnitude.

[ChartBuddy]

Explanation

[Wandererfromthenorth]

ShroomsKit, listen, if BTC is good enough in itself as a technology and will survive no speculator can "ruin" its future, deal with it.
It doesn't work like you think.

If BTC dies it will have nothing to do with your hated "speculators".

[ShroomsKit]

ShroomsKit, listen, if BTC is good enough in itself as a technology and will survive no speculator can "ruin" its future, deal with it.
It doesn't work like you think.

If BTC dies it will have nothing to do with your hated "speculators".

Sure, the core will always survive. Now it would also be nice if it gets mainstream adoption. And that's where speculators get in the way.

[cyberpunkzzz@bk.ru]

Greetings. I'm new and trying to deal with everything. Tell me if this http://mining-profit.com/a good choice of a calculator?

[oda.krell]

Why are people still seriously arguing with ShroomsKit?

He made it clear in the past few months that he's not really interested in an open discussion, just like our resident Brazilian CS prof, but with the difference being that ShroomsKit likes to randomly flip between beartroll and bulltroll once in a while.

I actually think he's doing it on purpose, continuing where the greatest trolls of our time, like proudhon, left off.

[spooderman]

I can't understand how someone who (might be) promoting shrooms can be so..."un-zen."

Don't worry about the dumpers so much shroomsy.

[Pala_00]

Now that bitcoin is dead what the fuck am I going to do all day?

[ShroomsKit]

I can't understand how someone who (might be) promoting shrooms can be so..."un-zen."

Don't worry about the dumpers so much shroomsy.

As explained before i have nothing to do with that name anymore. I got this account a long time ago from the original owner. I even asked a mod to change the name but never got a reply.

And even then it's not exclusively used by 1 person.

[mmitech]

Now that bitcoin is dead what the fuck am I going to do all day?

Sadly, go back to what you did before Bitcoin.... in my case it would be really hard now that I've learned many things about this shitty economy, it will be so hard for me dealing with the fact that I will not be paid what I deserve when making a shitload of money for someone else.... it is hard these days to get paid a salary you deserve, except if you run a business your self.


Edit: and Bitcoin is not dead and I don't think it will be dead anytime soon, it is just about to start doing what is suppose to do.

[Erdogan]

If I want to pay someone in Indonesia the equivalent of 100 USD, this needs to happen:

a) sell a suitable amount of bitcoin on the local bourse
b) redraw the local fiat to my local bank
c) order a wire transfer in my local bank
d) the local bank needs to order that in one of my country's internationally connected banks.
e) the sum is converted to dollars
f) that bank must order a wire from its account in an international bank like deutche bank
g) the wire arrives in an internationally connected bank's foreign bank account
h) the sum is converted to rupiah
i) the sum is moved from the local banks account in the big Indonesian bank
j) the sum is moved to the customers account
k) the customer must send the fiat to his local exchange
l) the customer must sell his fiat on the exchange
m) the customer must retrieve his bitcoins

So may smart people here, could this procedure be streamlined?

[madmat]

I can't understand how someone who (might be) promoting shrooms can be so..."un-zen."

Don't worry about the dumpers so much shroomsy.

As explained before i have nothing to do with that name anymore. I got this account a long time ago from the original owner. I even asked a mod to change the name but never got a reply.

And even then it's not exclusively used by 1 person.

Do you know you could create your own account ?

[Dragonkiller]

I can't understand how someone who (might be) promoting shrooms can be so..."un-zen."

Don't worry about the dumpers so much shroomsy.

As explained before i have nothing to do with that name anymore. I got this account a long time ago from the original owner. I even asked a mod to change the name but never got a reply.

And even then it's not exclusively used by 1 person.

Do you know you could create your own account ?

yes but then he couldn't have that amazing avatar.

[vipgelsi]

Now that bitcoin is dead what the fuck am I going to do all day?

lol you could tell stories about the good old days of bitcoin. Like you used to buy 5 bitcoins with a nickel. 

[Pala_00]

Now that bitcoin is dead what the fuck am I going to do all day?

lol you could tell stories about the good old days of bitcoin. Like you used to buy 5 bitcoins with a nickel. 

WAS A TRICK QUESTION!!!! BITCOIN WILL NEVER DIE!! CHEAP COINS!

[spooderman]

wow. I have literally never understood how you could have a name referencing shrooms and talk the way you talk.

Now I do. It's because it's not your name.

Lel

[600watt]

If I want to pay someone in Indonesia the equivalent of 100 USD, this needs to happen:

a) sell a suitable amount of bitcoin on the local bourse
b) redraw the local fiat to my local bank
c) order a wire transfer in my local bank
d) the local bank needs to order that in one of my country's internationally connected banks.
e) the sum is converted to dollars
f) that bank must order a wire from its account in an international bank like deutche bank
g) the wire arrives in an internationally connected bank's foreign bank account
h) the sum is converted to rupiah
i) the sum is moved from the local banks account in the big Indonesian bank
j) the sum is moved to the customers account
k) the customer must send the fiat to his local exchange
l) the customer must sell his fiat on the exchange
m) the customer must retrieve his bitcoins

So may smart people here, could this procedure be streamlined?

just put the coins in an envelope, send it via airmail