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

[hdbuck]

Big companies accepting bitcoins hardly did wonder things for the price recently, isn't it?

It adds to bitcoin's legacy for sure but we need stuff to make people buy coins not to sell it.

If more people use coins then we will have more liquidity and more people holding. If you increase the user base with millions who use a bit and hold a bit for a while in uncoordinated random cycles then we will have a much healthier environment than we have now.

The problem is that more companies accepting bitcoin didn't make more people using bitcoins or holding. It didn't make people buy bitcoins to spend them or hold them, most of buys happening with bitcoin at those companies are people who hold coins already, specially early investors.

There is still literally zero advantage for average user to buy bitcoins just to spend them on some site except in illegal purchases.

I don't know... Microsoft accepting Bitcoin surely adds heavily to it's legacy long term but I'm not sure it adds any wonders to Bitcoin price except short term pump, just like all others didn't. Until average Joe gets some significant advantage of using Bitcoin to purchase things and could buy it fast and cheap nothing really changes. We need new money in the game and that won't be people buying coins to spend them on Xbox stuff.

That bolded part is bang on.

Bitcoin is not just another payment platform.

Bitcoin is an alternative to government and corporate oppression.

right. bitcoin is freedom.

obviously masses dont care about that. yet.

[grappa_barricata]

OK how low is going to retrace? 50%? 66%? 200%? Place your bets ladies and gentlemen.

[samsonn25]

Hypothesis #1)
Reason for sudden rise in shorts when price rose:

Someone shorting the market wanted to manipulate the btc price by putting up massive sell walls. The effect would make traders/bots think we were in a bear market with massive selling pressure.

I dont think they realised that their fake sell wall would get eaten on the sudden rise.

Now they are f*cked...

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

Some would argue a certain percentage of shorts are necessary to prevent the price to go to zero.

[kenji]

sony want to accept bitcoins in 2015

[ChartBuddy]

Explanation

[redsn0w]

A great news for the bitcoin  technology  : Reddit about to fully integrate bitcoin!

[bobboooiie]

A great news for the bitcoin  technology  : Reddit about to fully integrate bitcoin!

Didnt they want to create their own crypto?

[hdbuck]

sony want to accept bitcoins in 2015

source?

[redsn0w]

A great news for the bitcoin  technology  : Reddit about to fully integrate bitcoin!

Didnt they want to create their own crypto?

I don't know but this is  his reply :

"It's definitely long-term. Bitcoin technology will ultimately become integral to reddit. We've had some internal brainstorming about ways we could integrate - the possibilities are enormous.
Our focus right now is on the digital asset. Announcements forthcoming."

Source: https://np.reddit.com/r/blog/comments/2owj55/welcome_drew_ryan_mike_daniel_joe_dave_david/cmral8p

[trade2winnn]

BTC back to $420 shortly !

[Phillis]

nice to see some positive news for a change

[JorgeStolfi]

For whatever it is worth, in case anyone cares; I have no opinion:
"One Of The Biggest Mistakes Investors Make"
https://www.youtube.com/watch?v=0JmLzEo0Bts

[Bagatell]

For whatever it is worth, in case anyone cares; I have no opinion:
"One Of The Biggest Mistakes Investors Make"
https://www.youtube.com/watch?v=0JmLzEo0Bts

You really are desperate aren't you? Of course dollar cost averaging wont work if the asset drops to zero and doesn't recover.

[hdbuck]

Explanation

[fonsie]

For whatever it is worth, in case anyone cares; I have no opinion:
"One Of The Biggest Mistakes Investors Make"
https://www.youtube.com/watch?v=0JmLzEo0Bts

You really are desperate aren't you? Of course dollar cost averaging wont work if the asset drops to zero and doesn't recover.

Business must be slow in the "academic" world, I guess, he's just trolling until he can collect his foodstamps. Those tokens have real value to him. 

[ChartBuddy]

Explanation

[spooderman]

A long video to explain that dumping more money into AIG is a bad idea and that this somehow indicates that buying into a falling price of a brilliant technology is a bad idea too.

AIG is not bitcoin you mouth breather. AIG wasn't quite a scam, but it did function as the buffer exploited to death by Goldman Sachs who knowingly sold awful CDOs to retirement funds while betting against them in the derivatives market. Trouble is they bet correctly! So correctly that AIG collapsed instantly the minute the CDOs showed themselves to be the shit that they were.

Never mind they all got bailed out by loads of money printing and socialism for the wealthy continued.

Funnily enough bitcoin is the most direct solution to this once unstoppable scam!

But yeah sell it because other people are selling it and you should always follow trends AIG went down once and died, so bitcoin will do the same.

Jorge on form as usual.

[oda.krell]

In that case there's a good chance a vast number of current investors would leave for good, and price would deflate to level that seems laughably low right now... but then what? Others will pick it up from there, as long as there is the confidence that Bitcoin is useful for something after all. Cue the trolls: "It's about as useful as beanie babies or tulips". I don't need to tell you that's just noise. The usefulness of Bitcoin (or crypto in general) is undisputed. What is up for debate is the scale at which it will be used (and, as a consequence, what the valuation of the network should be).

Forgot to respond before, but Beanie Babies are actually more useful than Bitcoins IMO.

When I hold Bitcoin, I hide them in my cold wallet, too scared to even consider spending any because of the eternal public paper trail it leaves. It's already scary enough to securely handle cold storage considering all possible attack and data loss vectors, but at the same time, I have to be scared that they tremendously lose value again.

At least you can play with Beanie Babies, and some of them actually look nice. Plus, they're already worthless.

Trying to channel Lambchop here, huh?

[JorgeStolfi]

Seems I have touched a nerve.  Sorry...

[grappa_barricata]