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

[Pala_00]

Our $10,000 coin dreams are based largely (I think) on bitcoin being adopted for remittances.

soon...

[NotLambchop]

Bulls, have you thought about YOUR CHILDREN?

[mmitech]

Well it's important to keep in mind that long term Bitcoin really is not only revolutionary, but also extremely useful. It's infrastructure is also becoming more and more robust on a daily basis. It's easy to panic while the price is dropping (which could be from the Alibaba IPO or huge mining operations dumping to pay their bills) but in reality Bitcoin itself has never been healthier.

The level of investment that has gone into bitcoin isn't going to disappear as these VC firms do multi year planning and know to expect a long struggle: especially in something as new as bitcoin. It took the internet awhile before it really kicked off as well- anyone remember the big tech bust of web 1.0?

Anyway, really we need to get people buying bitcoin as more than just an investment, although as an investment it's still probably fantastic in the long run. Our $10,000 coin dreams are based largely (I think) on bitcoin being adopted for remittances.

what fear got into you  ?    just don't tell me you didn't sell anything when the price got to $1000 ?

[tabnloz]

in other words, I agree, gox fucked Bitcoin big time, when all the world was starting to get curious about Bitcoin and started watching, Gox had to go bankrupt, eventually this would happen sooner or later, but the timing was terrible.

The Gox fiasco will have lasting effect, I think about 12 months worth. It contributed significantly to bringing on a bear market.

[ChartBuddy]

Explanation

[NotLambchop]

...[Bitcoin] infrastructure is also becoming more and more robust on a daily basis.
... huge mining operations dumping to pay their bills...

ic.

[mmitech]

Right know even ripple seems to be doing better than Bitcoin, which BTW reminds me about the ripple troll, where is he  ? usually he shows up when the price is dropping...

[abercrombie]

[POM]

[Erdogan]

Somebody check Satoshi's wallets!

holy shit 

WHOA thats a ton of coins? Has bitstamp confirmed that is their address?!

SHIT!!!!

Now we are really going down!!!

[exocytosis]

You earlier mentioned you are waiting to buy bitcoin at a lower price than it is now.

I say a lot of things in jest. I'm probably not gonna buy more bitcoins anytime soon. Because Bitcoin really does seem to be going down, whether we like it or not.

And no, I don't like it.

So why are you here? Posting every few minutes? Curious.

As I mentioned in another thread earlier today, approximately 5% of my net worth is placed in BTC. Since I'm only 95% sure BTC will fail.

But I wanna be honest with people, and not try to lure clueless newbs into a speculative bubble where they'll risk losing their sanity and all of their money. That's why I don't post permabullish spam like the cultists do.

If Bitcoin fails because of the bearish posts of a single guy (or several guys) on these forums, then Bitcoin doesn't deserve to exist in the first place. Good riddance.

Let's hope I'm proven wrong in my bearishness.

Oh, and I don't post much unless there's some volatility in the markets. I've posted a lot today, since the price has been falling quite a lot today. It's fun to argue with cultists and permabulls in these bearish times.

[Wandererfromthenorth]

aaaaawww shit 

[adamstgBit]

[exocytosis]

Somebody check Satoshi's wallets!

holy shit 

WHOA thats a ton of coins? Has bitstamp confirmed that is their address?!

SHIT!!!!

Now we are really going down!!!

Hmmm ...

[crazy_rabbit]

Interpretation?

[Wandererfromthenorth]

Got a link for that?

http://www.bfxdata.com/combined/btc.php

[Erdogan]

If I sense correctly, it seems now real bulls and early adopters are starting to feel fear or at least getting annoyed and moody. What are those walls pushing us down? Are they organic selling or something else?

Oh, it's the evil banksters manipulating the price of course. You see, according to the cultists: Whenever BTC price goes down, it's price manipulation. Whenever it goes up, it's a healthy market discovering the "true price" of Bitcoin. That's why the cultists always ignore Willybot, Markus and the other Gox bots that created every BTC bubble in the first place. They deny the very existence of those bots, since they don't fit neatly into the narrative of organic growth and a healthy market ruled by supply and demand.

That's why the permabulls and cultists always talk about "bear whales" supposedly "manipulating" the price to buy huge amounts of "cheap coins".

They can't face the simple fact that ordinary people (and smart investors) simply aren't interested in ridiculous internet funbux. And they aren't suddenly gonna become interested, even when the price crashes to single digits, where it rightfully belongs. In fact, they'll be even less interested then than they are now.
 

internet funbux are still

Scarce
Durable
Portable
Divisible
Impossible to counterfeit
Fungible ( any 1 BTC has the same value as any other )
Easy to keep safe ( contrary to popular belief, it easy to print out a paper wallet...)
Shiny ( yes the digital bits that make up a bitcoin are VERY shiny)

Also they have a rounded shape. Which is nice.

Every address is rounded to an integer,  which is nice.

[Wandererfromthenorth]

Interpretation?

Price is going down, both longs and shorts are going up a little bit (but not too much).
The vast majority of the coins dumped are real BTCs and not just shorts.

Shorts are not particularly high compared to longs so a short squeeze is not that probable now.

[adamstgBit]

Interpretation?

Price is going down, both longs and shorts are going up a little bit (but not too much).
The vast majority of the coins dumped are real BTCs and not just shorts.

Shorts are not particularly high compared to longs so a short squeeze is not that probable now.

agreed.

shorts are really quite high tho, they are nearing ATH levels.

[hyphymikey]

Are we finally going to get our <350 coins?