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

[gkv9]

Dude, it's just as meaningless as all the other crap/whispers one can read here.

Tru dat

Sure is a lot of nonsense here these days

+1 to that...

[ChartBuddy]

Explanation

[NotLambchop]

Good morning gentlemen!
Though Stalingrad didn't turn out like you planned, it's never too late to give up on your dreams.
Come on out, we have milk and cookies!

...
Sure is a lot of nonsense here these days

[JorgeStolfi]

http://www.bloomberg.com/news/2014-12-05/tim-draper-wins-part-of-second-silk-road-bitcoin-auction.html we can only assume he paid above MR cause [ we assumed that ] he did last time

Fixed that.  AFAIK we still do not know how much he paid last time.

Claim: Tim does not think that bitcoin is worth more than 375$.  Proof: If he thought it was worth 390 $ (say) he would buy at the exchanges until the price went above 390$.  But the price is barely moving from 375$.  Therefore he is not buying coins at 376$ or more.  Therefore he does not think that bitcoin is worth more than 375$.

Now, if he does not think that it is worth buying even 1000 BTC at more than 375$, why would he try to bid for 2000 BTC at more than 375$?

Same for all other people out there who still have money to invest.

Said another way, the reason why the market price is not more than 375$ now is because everybody who has money to spare, including Tim, now thinks that bitcoin is worth less than 376$.  So, if no one with money wants to buy 1000 BTC from the exchanges for more than 375$, why would they want to bid for them at the auction for more than 375$ ?

[JorgeStolfi]

He has clearly stated that he bought his coins to provide liquidity to several of the Bitcoin-based startups he is backing.

˜Provide liquidity" is a fancy way of saying "sell a lot of coins whenever the market price tries to rise".

[NotLambchop]

...
Said another way, the reason why the market price is not more than 375$ now is because everybody who has money to spare, including Tim, now thinks that bitcoin is worth less than 376$.  So, if no one with money wants to buy 1000 BTC from the exchanges for more than 375$, why would they want to bid for them at the auction for more than 375$ ?

it's Bitcoiners' ability to ignore such basic and irrefutable facts that makes them so endearing

[LFC_Bitcoin]

[oda.krell]

http://www.bloomberg.com/news/2014-12-05/tim-draper-wins-part-of-second-silk-road-bitcoin-auction.html we can only assume he paid above MR cause [ we assumed that ] he did last time

Fixed that.  AFAIK we still do not know how much he paid last time.

Claim: Tim does not think that bitcoin is worth more than 375$.  Proof: If he thought it was worth 390 $ (say) he would buy at the exchanges until the price went above 390$.  But the price is barely moving from 375$.  Therefore he is not buying coins at 376$ or more.  Therefore he does not think that bitcoin is worth more than 375$.

Now, if he does not think that it is worth buying even 1000 BTC at more than 375$, why would he try to bid for 2000 BTC at more than 375$?

Same for all other people out there who still have money to invest.

Said another way, the reason why the market price is not more than 375$ now is because everybody who has money to spare, including Tim, now thinks that bitcoin is worth less than 376$.  So, if no one with money wants to buy 1000 BTC from the exchanges for more than 375$, why would they want to bid for them at the auction for more than 375$ ?

Sure, if by 'proof' you mean "assuming that my overly simplistic model of economic decisions is correct".

Alternatively, he might think Bitcoin is well worth above $375, but knows that he a chance to gather a much bigger position if he doesn't buy it on-exchange, because off-exchange prices seem to (largely) follow the on-exchange price as "the market price", while there is no public price finding mechanism for off-exchange transactions (excluding localbitcoin).

[NotLambchop]

You're doin' great, LFC_Bitcoin

[podyx]

[findftp]

This thread is not really what it used to be.
Is it a sign that we are still in consolidation towards $200
The longer I do TA, the more I get convinced it'll take longer the price to rise.

[LFC_Bitcoin]

This thread is not really what it used to be.
Is it a sign that we are still in consolidation towards $200
The longer I do TA, the more I get convinced it'll take longer the price to rise.

200?

[billyjoeallen]

Thanks y'all for letting me almost double my short position with that little run up to $382. Pattern recognition is one of the components of intelligence, but some of you bastards can't even see the pattern after I point it out to you. If enough of you bastards don't short with me, then we won't have enough money to hold the ~$300 bottom and this damn bear market will drag out for another few months.

We have to hold the retest that's prolly coming. The next bubble will prolly take us to $4,000 or higher, so there will be plenty of time to jump on the train if we miss the first stop.

I'm a long term bull and hodler. My short is a hedge bet but if you fuckers get wiped out going margin long before the double bottom, I'll laugh my ass of while spending your money.

Hoping for some bull whale to save you is a poor investment strategy.

[gkv9]

If these two guys can do a survey by visiting different cities of USA and Canada and can donate their time and money in the form of Bitcoins, take loads of information from each and every consumer who uses Bitcoin and ask them how and why do they use such currency, roam for the development and awareness of the cryptosystem and record everything just for people like us to be with them during their journey as an audience, then why can't we trust the BTC protocol anymore and why not post something really constructive that may be helpful for those newbies who are really interested in profoundness of these things...

Anyways, for the reference purpose of those 2 guys, here's the link: https://www.cryptocoinsnews.com/thebitmovie-coming-city-near/

[gkv9]

Thanks y'all for letting me almost double my short position with that little run up to $382. Pattern recognition is one of the components of intelligence, but some of you bastards can't even see the pattern after I point it out to you. If enough of you bastards don't short with me, then we won't have enough money to hold the ~$300 bottom and this damn bear market will drag out for another few months.

We have to hold the retest that's prolly coming. The next bubble will prolly take us to $4,000 or higher, so there will be plenty of time to jump on the train if we miss the first stop.

I'm a long term bull and hodler. My short is a hedge bet but if you fuckers get wiped out going margin long before the double bottom, I'll laugh my ass of while spending your money.

Hoping for some bull whale to save you is a poor investment strategy.

Holder and not hodler... Respect... Peace... Cheers...

[NotLambchop]

Getting a little cold, Bitcoiners?



Why continue to struggle?  You can not win this war of attrition!

[fonsie]

It seems that NotLambchop changed his tune since putting him on Ignore. Still on repeat, just a different song.

[Newbie1022]

I think the bias of the market is still towards the downside (low interest in BTC, generally, right now). I think the auction probably went worse than people realize (worse than those who have Draper in Captain America costumes), but not very bad (probably the average is about $20 to $60 below market). I know that I don't know, though. The market has flat-lined a bit because nobody really has a good read. We are in between news and TA marks. So, I'd say 60-40 down instead of up.

[Wandererfromthenorth]

We should have the next big BTC move soon, just wait for a break out or a breakdown with volume and react to what happens.

Next few days.

[ChartBuddy]

Explanation