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

[_javi_]

do you guys expect a crash to sup $300?

nobody has a clue what´s next.
welcome to bitcoinland

[criptix]

hail to the reptilian overlords

more ripple pump

another day in bitcoinland

btw i voted for <300

 

[adamstgBit]

i picked up a few bits... pretty sure the price is going to keep crashing tho, am i nuts? or stupid? maybe both?!

Not stupid. You are defending the upper regions of the bottom.
Someone's got to do it.
Let me do the 220 part. Everybody gets his fair share

i can live with that.

[janos666]

i picked up a few bits... pretty sure the price is going to keep crashing tho, am i nuts? or stupid? maybe both?!

I don't know. I did a similarly irrational thing. I moved the stop price of my short (average price ~347) lower (low enough to get triggered by random noise, lower than 347).

[bitcoinmining]

C'mon China we're waiting for another dump! Sell sell sell those coins... It's a beautiful day to sell high&buy low  

[barbs]

Don't worry, there's always a next auction with tens and hundreds of thousands of stolen BTC. The ultimate finale will be MtGox.

I really wish the community didn't just let Mark dissapear into the shadows, that guy got away with a good amount of everything in the good days of BTC (for years)

We all just let him go away.

Yes I'm blaming mark karpeles for this sell off. because he robbed me.

[itod]

do you guys expect a crash to sup $300?

nobody has a clue what´s next.
welcome to bitcoinland

Nobody has a clue, but some of us were predicting bottom in the range $280-$285 for quite some time (months). That's the bottom were miners have to stop selling immediately what they mine or turn off their machines. Some smart-asses keep claiming that price has nothing to do with mining which is only partly true, price *is* formed by supply and demand, but they keep forgetting that miners are the bigger part of the supply side. This is not so important when the price is way up and miners can only sell part of their produced BTCs and speculate with the rest, but with the price this low they have to sell right now, there's no margin for risk of BTC falling ever lower and they would end up in red because they've already in debt for the electricity they've consumed. However, when the price goes below the US$ amount already invested in BTC through mining, they have to stop selling and wait for the price to go up to $280 or go out of the business. Simple as that.

[marcus_of_augustus]

Don't worry, there's always a next auction with tens and hundreds of thousands of stolen BTC. The ultimate finale will be MtGox.

I really wish the community didn't just let Mark dissapear into the shadows, that guy got away with a good amount of everything in the good days of BTC (for years)

We all just let him go away.

Yes I'm blaming mark karpeles for this sell off. because he robbed me.

sue him, put a hit out, stalk his gay lover, kidnap his poodles, stop whining and do something about it.

[jelin1984]

Nem coin

[silverfuture]

price dropped 10% in last 24h, china awakening in 30m, lets see what happen

At some point, they are going to want to buy. Not sure when, but it is coming.

http://siliconangle.com/blog/2014/12/16/pboc-ex-deputy-says-bitcoin-fiat-can-co-exist-in-china/

[adamstgBit]

https://www.youtube.com/watch?v=y1jHbciPsPU

[N12]

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.

Next time, go for Beanie Babies.

[NotLambchop]

...
Next time, go for Beanie Babies.

Muh niggah!

[Erdogan]

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.

Next time, go for Beanie Babies.

He is right about the usefulness, but bitcoins are not useful and that is the point, they have only speculative value, that is what makes them money.

EDIT (just noticed) you are right.

[wobber]

Panic sell in the making.

[ParabellumLite]

Panic sell in the making.

Seems like China is waking up. I wonder what the weekend will bring.

[billyjoeallen]

My guess is that there will be a move toward $300 and then it will pull away and many will think the danger is over, but then after a while when you aren't looking, the dumpers will try to smash through.

This is a huge opportunity for those who are patient. Swap costs are almost nothing right now so if you don't already have a short position,  wait for the pull back and then get one and wait because I guarantee, I know in my bones, The bottom will be retested.

As it gets closer to $270, start closing your short, just a few BTC at a time so nobody notices. If the retest happens relatively soon (say within a month or so), and volume is very high,  get out of your short and start going margin long.

With swap costs so low, there is a possibility of making a massive amount of money by putting relatively little of your own coins or cash at risk.

I have a massive short right now and my swap costs are less than a dollar a day. I'm gonna wait these fuckers out. Keep in mind we had both a short and long squeeze recently, so make sure your short liquidation price is over $475 and your long liquidation price is under $200 depending on your risk tolerance.

and for God's sake, get your coins off of the exchange and into cold storage or a vault if you are not going to put them in play.

This is an exciting time to be alive. Great fortunes will be won and lost in this battle. If $270 holds on high volume, I am going margin long and staying margin long until I can chop the head off of the next bubble.

Good luck and happy trading. and...try to make sure you have some balance in your life.  Some people risked and gave their lives to save the world. We are only risking money, most of it conjured out of thin air by banksters. Bitcoin isn't everything. If you can't afford to fight, that's ok. I bear a large part of the responsibility for things getting this bad, so I'm going to put a good size chunk into play.

[ChartBuddy]

Explanation

[Omikifuse]

See you when we test 300 again.


Goodbye

[bambou]

the real story about bitcoin:



bears..