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

[karolina]

Can someone explain the following to me.
If Bitcoin goes down it's actually amazing news. It means it will go to the moon soon, cheap coins, accumulating, big players dying to get in and so on.
But when the stock market goes down everyone suggests to move out because it's so bad what is happening.

Why?

Because bias.

Doesn't take rocket appliances to figure it out, Eisenstein.

Who is Eisenstein?

[ChartBuddy]

Explanation

[Richy_T]

Must feel awful to have money in the stock market this month. Value plummeting every single day. But...

bitcoin users not affected!

The fail of comparing an alleged currency to the stock market

Here's how real money has fared YTD:

That's stocks, not money, dumbass. What you could buy with 10600 at the beginning of the year, now costs 11000. All else being equal (not that it is, of course), that would imply a 3.6% fall in the value of a dollar (somewhat in-line with inflation figures).

Let's not even mention the non-zero scale which tends to amplify small changes greatly. And non-log? Of course.

[Flatulenters]

I think stock market crash will cause alot of people to pull their money, and some of those people will put it in bitcoin.

With New York getting exchanges in Q1 2015, the timing will be great.

[Richy_T]

Just to remind everyone, where we were at a year ago from right now

[NotLambchop]

Must feel awful to have money in the stock market this month. Value plummeting every single day. But...

bitcoin users not affected!

The fail of comparing an alleged currency to the stock market

Here's how real money has fared YTD:

That's stocks, not money, dumbass. What you could buy with 10600 at the beginning of the year, now costs 11000. All else being equal (not that it is, of course), that would imply a 3.6% fall in the value of a dollar (somewhat in-line with inflation figures).

Let's not even mention the non-zero scale which tends to amplify small changes greatly. And non-log? Of course.

Lol, the Bitcoin chart is graduated in dollars, dumbass.  If the dollar value fell, as you seem to be implying, and BTC fell 70% vis-a-vis that inflated dollar, Bitcoin must have REALLY tanked

[Richy_T]

Lol, the Bitcoin chart is graduated in dollars, dumbass.  If the dollar value fell, as you seem to be implying, and BTC fell 70% vis-a-vis that inflated dollar, Bitcoin must have REALLY tanked

Tanked from where? The bubble-driven, Karpeles-scam-driven ATH which you always seem to be using or the beginning of the year price which is what you claim to be using?

Or how about from a year ago from *right now*? (See chart above)

[JorgeStolfi]

Just so everyone knows,  Barry Silbert (Second Market Bitcoin Trust) basically admitted that some of the price decline was because of "tax selling" in today's tweet. (the tax extension deadline in the US is today, October 15th)

I know this will surprise nobody, but I'm feeling really good about bitcoin right about now. Plus, tax selling is finally behind us.

https://twitter.com/barrysilbert/status/522440627502723075

He even gave everyone a heads up about it in an earlier tweet on Oct 6th.

Surprised how few are connecting the recent selling pressure to the Oct 15 tax extension deadline. Taxes due from '09-'13 mining/usage/sales

https://twitter.com/barrysilbert/status/519120987334651905

Read carefuly, he did not say "the price is falling because American bitcoiners are tax selling". 

"Surprised how few are connecting the recent drop of the DJA to the anniversary of the Battle of Hastings."
"I am feeling good about the DJA right now.  Plus, the Russia Formula 1 race is finally behind us."

[NotLambchop]

Lol, the Bitcoin chart is graduated in dollars, dumbass.  If the dollar value fell, as you seem to be implying, and BTC fell 70% vis-a-vis that inflated dollar, Bitcoin must have REALLY tanked

Tanked from where? The bubble-driven, Karpeles-scam-driven ATH which you always seem to be using or the beginning of the year price which is what you claim to be using?

Or how about from a year ago from *right now*? (See chart above)

Oh, I agree.  Bitcoin price is a fiction, always was and always will be--propped up by every exchange, not just Gox.  If today's price is in any way meaningful, so was Dec. price.
And learn the meaning of YTD.

[JayJuanGee]

I find extremely frustrating the fact that IMF and JPM are SERIOUSLY considering BTC and Blockchain as a financial way towards their future. I can't HODL BTC under those circumstances. It's not ethical nor sane. Should I SODL?

Link or it didn't happen

[ShroomsKit]

Oh look. A wall, trying to push us down. What a surprise.

[Richy_T]

Lol, the Bitcoin chart is graduated in dollars, dumbass.  If the dollar value fell, as you seem to be implying, and BTC fell 70% vis-a-vis that inflated dollar, Bitcoin must have REALLY tanked

Tanked from where? The bubble-driven, Karpeles-scam-driven ATH which you always seem to be using or the beginning of the year price which is what you claim to be using?

Or how about from a year ago from *right now*? (See chart above)

Oh, I agree.  Bitcoin price is a fiction, always was and always will be--propped up by every exchange, not just Gox.  If today's price is in any way meaningful, so was Dec. price.
And learn the meaning of YTD.

You learn the meaning of YTD. What was the price at 00:01 UTC on Jan 1st, 2014?

And price is not a fiction though it has less meaning than many would believe.

[Torque]

Oh look. A wall, trying to push us down. What a surprise.

Yeah, and price pegged to some meaningless number ($391.59, lol)

Whales Wars.  That's all this stupid market is now.  Joe Public doesn't give a rats ass about bitcoin, and won't until a new artificial rally gets created again by the whales.

[fonzie]

I´m not sure i can take it any longer in here, even fonzies patience and tolerance has limits.
The level of stupidity is clearly in bubble mode.

[Richy_T]

Here, let me help. Unfortunately, ChartBuddy wasn't recording Stamp at that point. But since Stamp was typically lower than Gox at the time for the aforementioned reasons, that should help your argument. Now, give me 70% YTD. Or even 2/3.

[BitChick]

Just so everyone knows,  Barry Silbert (Second Market Bitcoin Trust) basically admitted that some of the price decline was because of "tax selling" in today's tweet. (the tax extension deadline in the US is today, October 15th)

I know this will surprise nobody, but I'm feeling really good about bitcoin right about now. Plus, tax selling is finally behind us.

https://twitter.com/barrysilbert/status/522440627502723075

He even gave everyone a heads up about it in an earlier tweet on Oct 6th.

Surprised how few are connecting the recent selling pressure to the Oct 15 tax extension deadline. Taxes due from '09-'13 mining/usage/sales

https://twitter.com/barrysilbert/status/519120987334651905

Read carefuly, he did not say "the price is falling because American bitcoiners are tax selling". 

"Surprised how few are connecting the recent drop of the DJA to the anniversary of the Battle of Hastings."
"I am feeling good about the DJA right now.  Plus, the Russia Formula 1 race is finally behind us."

There is a thread that keeps track of what is being bought and sold by the Second Market Bitcoin Trust (see https://bitcointalk.org/index.php?topic=337486.0 ) and there was some large sells before today's deadline.  Barry Silbert is at least aware of funds being sold for this obviously. It could very well have had an effect on the price.  I am not sure why you are being argumentative?

[Richy_T]

Oh look. A wall, trying to push us down. What a surprise.

Yeah, and price pegged to some meaningless number ($391.59, lol)

Whales Wars.  That's all this stupid market is now.  Joe Public doesn't give a rats ass about bitcoin, and won't until a new artificial rally gets created again by the whales.

Quite possibly. Unless we get to the halving first.

[ShroomsKit]

Oh look. A wall, trying to push us down. What a surprise.

Yeah, and price pegged to some meaningless number ($391.59, lol)

Whales Wars.  That's all this stupid market is now.  Joe Public doesn't give a rats ass about bitcoin, and won't until a new artificial rally gets created again by the whales.

Yes. These people are completely ruining this market.

[heri]

https://i.imgur.com/FVG0VS4.jpg

[NotLambchop]

Lol, the Bitcoin chart is graduated in dollars, dumbass.  If the dollar value fell, as you seem to be implying, and BTC fell 70% vis-a-vis that inflated dollar, Bitcoin must have REALLY tanked

Tanked from where? The bubble-driven, Karpeles-scam-driven ATH which you always seem to be using or the beginning of the year price which is what you claim to be using?

Or how about from a year ago from *right now*? (See chart above)

Oh, I agree.  Bitcoin price is a fiction, always was and always will be--propped up by every exchange, not just Gox.  If today's price is in any way meaningful, so was Dec. price.
And learn the meaning of YTD.

You learn the meaning of YTD. What was the price at 00:01 UTC on Jan 1st, 2014?

And price is not a fiction though it has less meaning than many would believe.

You win!  you only lost HALF of your value YTD.


And regardless of how much of a fiction the price is, my point is simple: assuming it's less of a fiction now than it was at it's peak is unjustified.
In the alternative, if the price was artificially inflated then, why use that price to bolster "we're going to the moon again" arguments?  According to you, we've never been there.

And being a stickler about one year--hey, those prices were inflated by Gox, just like the peak.  Commit it then to the flames: for it can contain nothing but sophistry and illusion.