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

[noobtrader]

i see this way... miner process transaction, then they get paid in bitcoin

atm we are in this bear market because demand is less than production because miner are minting new coin  but within decades miner will not minting new coin anymore, just the transaction fee.  so i think then we will see how valuable bitcoin really is

That doesn't prove price will go up in the future. If demand keeps going down and down, and it never goes up again. Then doesn't matter if there is halving or no more bitcoins mined, because market will pay less than now.

Your assertion is only true if demand remains constant or increases in the future. But you can't know that.

if i follow your logic then, bitcorn will soon be 10 usd, hashrate will plummet to just few giga because there is no incentives to mining and its all over for bitcorn mining industry... ppl who mining will do it for fun (and use pc and smartphones) and will not sell anyway. it will be the worst scenario and ultimate test to bitcorn existence.
even then i still believe that  bitcorn can endure such disaster and survive

[BitAddict]

And 1. the more the downtrend continues 2. and/or something in the world changes to spur adoption, the demand will not increase, and the price will not increase. Isn't it?

Yep, but we can't know that either.  

if i follow your logic then, bitcorn will soon be 10 usd, hashrate will plummet to just few giga because there is no incentives to mining and its all over for bitcorn mining industry... ppl who mining will do it for fun (and use pc and smartphones) and will not sell anyway. it will be the worst scenario and ultimate test to bitcorn existence.
even then i still believe that  bitcorn can endure such disaster and survive

No, previous performance don't prove same will happen in the future. Because bitcoin went up in price for 5 years doesn't mean it will keep doing the same for the next 5. But because it went down for 1 year doesn't mean it will keep going down to $0.

I'm just saying bitcoin and bitcoin mining is about offer and demand, and we can't know what will happen.

If you think price will go up you can freely buy bitcoin and hold to profit in case you're right, or lose money in case you're wrong. It is just a bet.

And bitcoin "surviving" is another thing. It could survive below $1 with some people mining. But we are not speaking about that, we are speaking about making profit with bitcoin.
If price goes down to $10, 99% of the current bitcoiners would forget it.

Most of the people is here for the dream of winning a lot of money and being part of something big. That dream would be nearly over if price goes back to that price.

[BlindMayorBitcorn]

And 1. the more the downtrend continues 2. and/or something in the world changes to spur adoption, the demand will not increase, and the price will not increase. Isn't it?

Yep, but we can't know that either. 

if i follow your logic then, bitcorn will soon be 10 usd, hashrate will plummet to just few giga because there is no incentives to mining and its all over for bitcorn mining industry... ppl who mining will do it for fun (and use pc and smartphones) and will not sell anyway. it will be the worst scenario and ultimate test to bitcorn existence.
even then i still believe that  bitcorn can endure such disaster and survive

No, previous performance don't prove same will happen in the future. Because bitcoin went up in price for 5 years doesn't mean it will keep doing the same for the next 5. But because it went down for 1 year doesn't mean it will keep going down to $0.

I'm just saying bitcoin and bitcoin mining is about offer and demand, and we can't know what will happen.

If you think price will go up you can freely buy bitcoin and hold to profit in case you're right, or lose money in case you're wrong. It is just a bet.

You just made my "do not ignore" list, bro.  Namaste

[BitAddict]

Why do you think bitcoin fanatics like BitChick went allin in bitcoin? To help poor people? Because she doesn't trust banks (but meanwhile risking a lot in a new "startup")?
No, she went allin because she believes in bitcoin and she wants to make a lot of money being greedy (I'm not blaming her. Nothing wrong there, anyone can do what she wants. And our human nature is to be greedy.). But she won't be happy at all if price goes down to $10, even if bitcoin "survives".
I bet at that price she probably wouldn't want to know anymore about bitcoin, buy more at that "cheap" price or look at the price. Too painful.

And don't tell me "is not about the price", because in that case you don't go allin, you just simply help the community and hold some bitcoin for fun.

It is neither because people believe banks and are risky, because bitcoin has a lot of potential BUT has higher risks, it is just a startup and we don't know how will it evolve. If you are scared about fiat, banks and your future (and yes, you are being right) then you should diversify (and having a percentage in bitcoin is fine), but not only going allin just in bitcoin.

On the other hand if price keeps going up you won't see any bitcoiner disappointed. But hey!, "Bitcoin is not about the price" TM

[ChartBuddy]

Explanation

[LFC_Bitcoin]

Bitcoin is all about the price.

[noobtrader]

Why do you think bitcoin fanatics like BitChick went allin in bitcoin? To help poor people? Because she doesn't trust banks (but meanwhile risking a lot in a new "startup")?
No, she went allin because she believes in bitcoin and she wants to make a lot of money being greedy (I'm not blaming her. Nothing wrong there, anyone can do what she wants. And our human nature is to be greedy.). But she won't be happy at all if price goes down to $10, even if bitcoin "survives".
I bet at that price she probably wouldn't want to know anymore about bitcoin, buy more at that "cheap" price or look at the price. Too painful.

And don't tell me "is not about the price", because in that case you don't go allin, you just simply help the community and hold some bitcoin for fun.

On the other hand if price keeps going up you won't see any bitcoiner disappointed. But hey!, "Bitcoin is not about the price" TM

well i guess you believe that bitcoin will boom or you dont.

Bitcoin is all about the price.

for me its all about profit

[Davyd05]

Why do you think bitcoin fanatics like BitChick went allin in bitcoin? To help poor people? Because she doesn't trust banks (but meanwhile risking a lot in a new "startup")?
No, she went allin because she believes in bitcoin and she wants to make a lot of money being greedy (I'm not blaming her. Nothing wrong there, anyone can do what she wants. And our human nature is to be greedy.). But she won't be happy at all if price goes down to $10, even if bitcoin "survives".
I bet at that price she probably wouldn't want to know anymore about bitcoin, buy more at that "cheap" price or look at the price. Too painful.

And don't tell me "is not about the price", because in that case you don't go allin, you just simply help the community and hold some bitcoin for fun.

It is neither because people believe banks and are risky, because bitcoin has a lot of potential BUT has higher risks, it is just a startup and we don't know how will it evolve. If you are scared about fiat, banks and your future (and yes, you are being right) then you should diversify (and having a percentage in bitcoin is fine), but not only going allin just in bitcoin.

On the other hand if price keeps going up you won't see any bitcoiner disappointed. But hey!, "Bitcoin is not about the price" TM

all in is pretty cray cray.. budget an amount where you don't regret not building a 2k miner in 2010

..mind ya upd that 2k to speculative buying amounts closer to 7k

[BlindMayorBitcorn]

Why do you think bitcoin fanatics like BitChick went allin in bitcoin? To help poor people? Because she doesn't trust banks (but meanwhile risking a lot in a new "startup")?
No, she went allin because she believes in bitcoin and she wants to make a lot of money being greedy (I'm not blaming her. Nothing wrong there, anyone can do what she wants. And our human nature is to be greedy.). But she won't be happy at all if price goes down to $10, even if bitcoin "survives".
I bet at that price she probably wouldn't want to know anymore about bitcoin, buy more at that "cheap" price or look at the price. Too painful.

And don't tell me "is not about the price", because in that case you don't go allin, you just simply help the community and hold some bitcoin for fun.

It is neither because people believe banks and are risky, because bitcoin has a lot of potential BUT has higher risks, it is just a startup and we don't know how will it evolve. If you are scared about fiat, banks and your future (and yes, you are being right) then you should diversify (and having a percentage in bitcoin is fine), but not only going allin just in bitcoin.

On the other hand if price keeps going up you won't see any bitcoiner disappointed. But hey!, "Bitcoin is not about the price" TM

all in is pretty cray cray.. budget an amount where you don't regret not building a 2k miner in 2010

..mind ya upd that 2k to speculative buying amounts closer to 7k

You are a hodler. Do you trade at all?

[BitAddict]

well i guess you believe that bitcoin will boom or you dont.

Bitcoin is all about the price.

for me its all about profit

I think in the long run bitcoin probably will be a good investment, otherwise I wouldn't be here. But it is a high risk investment and also has chances that it doesn't end like all the people expect, so don't go too strong. If you are depressed when price goes down, then you are doing it wrong.

Also a lot of hodlers don't have any strategy at all. They just bought a lot at any price (when they knew about bitcoin and liked it) thinking it can only go up, without considering before hand any exit point in case invesment goes wrong. Or assuming in that case that they could lose everything.

And no, adding more and more bitcoins while price goes down until you are allin, is not a good strategy.

[Davyd05]

Why do you think bitcoin fanatics like BitChick went allin in bitcoin? To help poor people? Because she doesn't trust banks (but meanwhile risking a lot in a new "startup")?
No, she went allin because she believes in bitcoin and she wants to make a lot of money being greedy (I'm not blaming her. Nothing wrong there, anyone can do what she wants. And our human nature is to be greedy.). But she won't be happy at all if price goes down to $10, even if bitcoin "survives".
I bet at that price she probably wouldn't want to know anymore about bitcoin, buy more at that "cheap" price or look at the price. Too painful.

And don't tell me "is not about the price", because in that case you don't go allin, you just simply help the community and hold some bitcoin for fun.

It is neither because people believe banks and are risky, because bitcoin has a lot of potential BUT has higher risks, it is just a startup and we don't know how will it evolve. If you are scared about fiat, banks and your future (and yes, you are being right) then you should diversify (and having a percentage in bitcoin is fine), but not only going allin just in bitcoin.

On the other hand if price keeps going up you won't see any bitcoiner disappointed. But hey!, "Bitcoin is not about the price" TM

all in is pretty cray cray.. budget an amount where you don't regret not building a 2k miner in 2010

..mind ya upd that 2k to speculative buying amounts closer to 7k

You are a hodler. Do you trade at all?

I did a little to start, but I wasn't patient enough.

I wish I stayed out at 800 and 600 lol (EDIT: only because I'd have more bitcoins to hold atm ), but FOMO ( fear of missing out got this newb right in the kisser ) and after that I just decided to hold and play a long term trend which was my original plan.. deviated a little to trade and panic'd a little during gox lol despite not being on that exchange I knew the ripples would be massive.

[LFC_Bitcoin]

Is anybody passionate about BTC & it's long term future?

If we get to 5000 USD I'm selling the majority of my holding & getting the fuck out, I'll probably keep some in cold storage just incase we do go to the moon.

But if we reach approx 5000 USD I am out & I don't care what happens in the long term.
If BTC can pay my mortgage off I'll remember it fondly & look to my next investment.

[BlindMayorBitcorn]

Is anybody passionate about BTC & it's long term future?

If we get to 5000 USD I'm selling the majority of my holding & getting the fuck out, I'll probably keep some in cold storage just incase we do go to the moon.

But if we reach approx 5000 USD I am out & I don't care what happens in the long term.
If BTC can pay my mortgage off I'll remember it fondly & look to my next investment.

TBH I got into Bitcoin because I thought it had the power to liberate some people from their fiats and banks. But if they are deincentivised to be liberated because of bitcoins ever diminishing purchasing power...it's a problem

[noobtrader]

well i guess you believe that bitcoin will boom or you dont.

Bitcoin is all about the price.

for me its all about profit

I think in the long run bitcoin probably will be a good investment, otherwise I wouldn't be here. But it is a high risk investment and also has chances that it doesn't end like all the people expect, so don't go too strong. If you are depressed when price goes down, then you are doing it wrong.

Also a lot of hodlers don't have any strategy at all. They just bought a lot at any price (when they knew about bitcoin and liked it) thinking it can only go up, without considering before hand any exit point in case invesment goes wrong. Or assuming in that case that they could lose everything.

off course, bitcoin is ultra high risk with massive reward, like everyone says already.

and i tend to agree that 2015 will still in bear market (1st half at least)  due to the fact that miner still minting and i still dont see real demand other than speculator. im still has hope for ethereum and storj that they can make more positive news for bitcoin. because as you know bitcoin is the entry point to those altcoin atm.

[LFC_Bitcoin]

Hopefully the halving in 2016 gives us a price boost.
An ETF approval in 2015 would be even better, it's gone a bit stale atm.
We all have patience but some progress would be nice.

[BitAddict]

Is anybody passionate about BTC & it's long term future?

If we get to 5000 USD I'm selling the majority of my holding & getting the fuck out, I'll probably keep some in cold storage just incase we do go to the moon.

But if we reach approx 5000 USD I am out & I don't care what happens in the long term.
If BTC can pay my mortgage off I'll remember it fondly & look to my next investment.

Well, that's easy to say now that we are at $300 after a long downtrend from $1,200 and people is losing their confidence.
Imagine the price starts slowly going up and more up, and more, and then after some months it hits $5000. While all the people saying how good is bitcoin, that there is nothing better, a lot of good news coming, people buying non stop like there is no tomorrow.
At that point is easy to forget your goal, and believe rally will continue more and price will go higher and higher (will could eventually happen like in 2013).
At that point greed take control of most of the people, and for the majority of them would be hard to sell an important part of their investment until there is another strong bear market.

[LFC_Bitcoin]

^^^^^

It's all about setting realistic goals & what makes some people happy (price wise) some people will scoff at.
If I could pay off my mortgage through BTC I would be happy.
If we reach 2000 USD I'll most likely sell 75% & be very happy.

[Davyd05]

^^^^^

It's all about setting realistic goals & what makes some people happy (price wise) some people will scoff at.
If I could pay off my mortgage through BTC I would be happy.
If we reach 2000 USD I'll most likely sell 75% & be very happy.

it should be a mix of .. paying it down and accumulating more in the dips.. but I do see the value in owning your own property

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation