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

[Torque]

All major merchants who receive BTC immediately sell.
As a miner, I need to sell just to squeak buy; other miners probably doing the same; soon it will not be profitable to mine and many will stop.
Sold half my stash recently; may simply wait to buy back cheap as everyone panics; cheaper than mining.
Everyone selling, doesn't look good.

you're STILL profitable???

god damn we need to go lower!

$299 yet? lol 

Yes, let's go lower!  Yes, down to $10 so Prof. Bitcorn can be vindicated.

[adamstgBit]

It will land at 450 and then back to 400. Somebody is accumulating... 

strong bounce.

Just catching up on some pages and these two stand out posts from all the cultists cheering that massive $14 'recovery' and admonishing everyone for not "believing".  <sigh>

Looks like 375 is the new 400 until the next round of red rain.

The weekly looks bad but the 3 day looks even worse.  But of course...

Are we a bitcult? I never considered that...

we call ourselves bitcoiners.

[mooncake]

Not yet, not yet! We are starting and maybe even in the middle of it but not enough bears! We need more bears before a reversal!

[ChartBuddy]

Explanation

[adamstgBit]

[exocytosis]

As a miner, I need to sell just to squeak buy; other miners probably doing the same; soon it will not be profitable to mine and many will stop.
Sold half my stash recently; may simply wait to buy back cheap as everyone panics; cheaper than mining.
Everyone selling, doesn't look good.

That's a shame.

But don't worry, because according to the cultists and permabulls, we'll magically be launched up to 10k and beyond any day now! You just gotta stay strong in your faith, and pray to Satoshi! Every major Wall Street player is lining up right in this moment, and they'll surely pump the price up to five and ten digits in no time.

[adamstgBit]

The elephant in the room: consumers have almost no incentive to use bitcoin.
The common talking points are:
Low fees - The consumers pay no fees while using a credit card. They actually get rewards points back.
Privacy - As evidenced by a recent post, bitcoin offers little privacy out of the box. You need to go through hoops to achieve privacy. People who care enough to go through these hoops have better alternatives (like cash!), which are more foolproof.
Being your own bank - Few people want to take the risks associated with being a bank. It is more of a headache than a plus.
No consumer protection - No need to elaborate.
Distrust of the monetary policy - The volatility of bitcoin makes it useless as a store of value, and there are better and more reliable options to store your wealth. Few people buy into the tinfoil-hattery that the USD is about to crash.
There is simply no pragmatic answer to "Why should I buy bitcoin?"

because its better than gold.

[chairforce1]

There is simply no pragmatic answer to "Why should I buy bitcoin?"

Because the opportunity cost of not owning 1 BTC is much greater than the cost to buy one.

[exocytosis]

The elephant in the room: consumers have almost no incentive to use bitcoin.
The common talking points are:
Low fees - The consumers pay no fees while using a credit card. They actually get rewards points back.
Privacy - As evidenced by a recent post, bitcoin offers little privacy out of the box. You need to go through hoops to achieve privacy. People who care enough to go through these hoops have better alternatives (like cash!), which are more foolproof.
Being your own bank - Few people want to take the risks associated with being a bank. It is more of a headache than a plus.
No consumer protection - No need to elaborate.
Distrust of the monetary policy - The volatility of bitcoin makes it useless as a store of value, and there are better and more reliable options to store your wealth. Few people buy into the tinfoil-hattery that the USD is about to crash.
There is simply no pragmatic answer to "Why should I buy bitcoin?"

because its better than gold.

The market doesn't seem to agree with you.

[adamstgBit]

i sell physical coin for bitcoin

no ebay fees

no paypal fee

no paypal USD <> CAD exchange rate

just my a simple P2P exchange

[BBmmBB]

i sell physical coin for bitcoin

no ebay fees

no paypal fee

no paypal USD <> CAD exchange rate

just my a simple P2P exchange

you are awesome!     BTCitcoinLand would not be the same without you!!!!

[adamstgBit]

i sell physical coin for bitcoin

no ebay fees

no paypal fee

no paypal USD <> CAD exchange rate

just my a simple P2P exchange

you are awesome!     BTCitcoinLand would not be the same without you!!!!

lol

[adamstgBit]

doge is about to slip below 100 sat.

shroomie must be shitting bricks

[grappa_barricata]

Tension is building up...

[akujin]

Mini pump  
Wake up guys

[grappa_barricata]

Volume is promising 

[empowering]

Tension is building up...

[Davyd05]

Mini pump  
Wake up guys

indeed how high does she go.

 I really think this is manipulation cause if we had a proper panic we could test our last bottom properly ( 340 ish ) but whatever lets just milk the desperate and despaired.

[billyjoeallen]

Mini pump  
Wake up guys

could be interesting. Time will tell. Doesn't mean much until the 1 HR moving average crossover.

[BitChick]

At times like these I like to go to http://fiatleak.com/

For some reason it makes me happy.