Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16922.

Torque

legendary

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Quote from: Syke on July 21, 2017, 12:22:53 PM

Quote from: Torque on July 21, 2017, 12:10:32 PM

You guys do realize that the total crypto market hit a high of $116B, and now with even this mega pump we are only back up $92B? Not even back to over $100B, nor do I see that happening within 6 months.

Crypto "market cap" means absolutely nothing.

I disagree. The number itself may be way off, but at a glance it reflects how much on exchange trading is going on, and whether or not money is flowing into the exchange markets vs. flowing out.

The fact remains that the total amount of money in the crypto market has been decreasing since the high of $116B was achieved.

Just go look at the first two charts, they are not in an uptrend anymore:
http://coinmarketcap.com/charts/

bitserve

legendary

Activity: 1932

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Self made HODLER ✓

Quote from: bikerleszno on July 21, 2017, 12:23:18 PM

Quote from: bitserve on July 21, 2017, 12:18:40 PM

BIP141 - 76.4% and growing fast (almost all blocks mined recently signal BIP141)

Maybe another run up when BIP141 lock-in is inminent?

BIP141 is good for us? If yes it means price will explode again soon above 3000 usd

BIP141 is bassically *SEGWIT*. So, yeah, i would say it is good. But maybe most effect is already priced in at the passing of BIP91. We will know soon

hv_

legendary

Activity: 2548

Merit: 1055

Clean Code and Scale

Quote from: Syke on July 21, 2017, 12:22:53 PM

Quote from: Torque on July 21, 2017, 12:10:32 PM

You guys do realize that the total crypto market hit a high of $116B, and now with even this mega pump we are only back up $92B? Not even back to over $100B, nor do I see that happening within 6 months.

Crypto "market cap" means absolutely nothing.

Correct.

Reputation and user base is all!

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: Torque on July 21, 2017, 12:10:32 PM

What specifically will be so earth shattering for Bitcoin within the next 6 months that price will rise from here to "insane levels"?

Short covering!

bikerleszno

hero member

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XBY - New Tech Coin (POSIGN) xtrabytes.global

Quote from: bitserve on July 21, 2017, 12:18:40 PM

BIP141 - 76.4% and growing fast (almost all blocks mined recently signal BIP141)

Maybe another run up when BIP141 lock-in is inminent?

BIP141 is good for us? If yes it means price will explode again soon above 3000 usd

Syke

legendary

Activity: 3878

Merit: 1193

Quote from: Torque on July 21, 2017, 12:10:32 PM

You guys do realize that the total crypto market hit a high of $116B, and now with even this mega pump we are only back up $92B? Not even back to over $100B, nor do I see that happening within 6 months.

Crypto "market cap" means absolutely nothing.

Herman Hesse

newbie

Activity: 76

Merit: 0

Quote from: Torque on July 21, 2017, 12:10:32 PM

Quote from: becoin on July 21, 2017, 11:48:13 AM

Quote from: Torque on July 21, 2017, 10:52:47 AM

What would continue to drive the market up higher from here? Serious question.

What always did.
Bitcoin is an excellent store of value. Can't be confiscated. There are 16,4 million bitcoins currently in circulation. There will be only 21 million. There are more than 7 billion humans on this planet. Central banks are printing new money in hundreds of billions every month. This is more than enough to drive bitcoin price to really insane levels.

Yes yes, those are all valid reasons long term for the price of bitcoin to rise to great new heights in the future.

So let me rephrase my question.

What specifically will be so earth shattering for Bitcoin within the next 6 months that price will rise from here to "insane levels"?

You guys do realize that the total crypto market hit a high of $116B, and now with even this mega pump we are only back up $92B? Not even back to over $100B, nor do I see that happening within 6 months.

I agree completely. Nobody doubts that long term BTC will rise enormously, but short term, we should look at the MarketCap from end of May this year, and use that as orientation. The rise of coins in spring was to fast..30-120 M. So short term, I am bearish, especially for altcoins..
No need for euphoria in short term...let's be objective.. In 2017, the coins already went up very , very high..more than enough.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: Torque on July 21, 2017, 12:13:41 PM

Exactly.

Hence my short term bearish attitude.

is returning to 1800-2200 even considered bearish? this has been a crazy blip more than anything.

bitserve

legendary

Activity: 1932

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Self made HODLER ✓

BIP141 - 76.4% and growing fast (almost all blocks mined recently signal BIP141)

Maybe another run up when BIP141 lock-in is inminent?

Dakustaking76

sr. member

Activity: 579

Merit: 267

Can someone explain Whats going on with bip141?
Is this bad ore not the mining is increasing???

Torque

legendary

Activity: 3794

Merit: 5474

Quote from: European Central Bank on July 21, 2017, 12:12:33 PM

Quote from: Torque on July 21, 2017, 12:10:32 PM

What specifically will be so earth shattering for Bitcoin within the next 6 months that price will rise from here to "insane levels"?

insane within 6 months?

nothing.

Exactly.

Hence my short term bearish attitude.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: Torque on July 21, 2017, 12:10:32 PM

What specifically will be so earth shattering for Bitcoin within the next 6 months that price will rise from here to "insane levels"?

insane within 6 months?

nothing.

Torque

legendary

Activity: 3794

Merit: 5474

Quote from: becoin on July 21, 2017, 11:48:13 AM

Quote from: Torque on July 21, 2017, 10:52:47 AM

What would continue to drive the market up higher from here? Serious question.

What always did.
Bitcoin is an excellent store of value. Can't be confiscated. There are 16,4 million bitcoins currently in circulation. There will be only 21 million. There are more than 7 billion humans on this planet. Central banks are printing new money in hundreds of billions every month. This is more than enough to drive bitcoin price to really insane levels.

Yes yes, those are all valid reasons long term for the price of bitcoin to rise to great new heights in the future.

So let me rephrase my question.

What specifically will be so earth shattering for Bitcoin within the next 6 months that price will rise from here to "insane levels"?

You guys do realize that the total crypto market hit a high of $116B, and now with even this mega pump we are only back up $92B? Not even back to over $100B, nor do I see that happening within 6 months.

bikerleszno

hero member

Activity: 656

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XBY - New Tech Coin (POSIGN) xtrabytes.global

What is BIP141... IT is good if it will be approved or not good? Anyone can tell more about this?

Meuh6879

legendary

Activity: 1512

Merit: 1012

becoin

legendary

Activity: 3431

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Quote from: Torque on July 21, 2017, 10:52:47 AM

What would continue to drive the market up higher from here? Serious question.

What always did.
Bitcoin is an excellent store of value. Can't be confiscated. There are 16,4 million bitcoins currently in circulation. There will be only 21 million. There are more than 7 billion humans on this planet. Central banks are printing new money in hundreds of billions every month. This is more than enough to drive bitcoin price to really insane levels.

lost_in_base

member

Activity: 84

Merit: 10

Quote from: Lauda on July 21, 2017, 10:21:36 AM

The current ATH for Bitstamp is $2980. We got very close to it yesterday, but the price was going way too quickly and was not sustainable. I think that a new number may be possible, very shortly. Therefore:
New ATH: July 24. 2017 (even if entries can't have the same date?).
Reason: BIP91 activates in ~250 blocks and the reached price yesterday.

In case that some people have not noticed it yet:

Quote from: Lauda on July 21, 2017, 04:57:56 AM

https://www.blocktrail.com/BTC/pool/btccom
https://www.blocktrail.com/BTC/pool/antpool
https://www.blocktrail.com/BTC/pool/viabtc
https://www.blocktrail.com/BTC/pool/btctop

All of these have started to signal Segwit. BIP148 working as intended.

My bet was 24 july.
Because original plan was (pools) to start signaling at 21 july(info from github).
I counted lock on 24 but signaling started earlier so it maybe activation around 24.

Because of these 3 days they took in advantage ATH was close to happen 21 but did not quite reach it.
Next change is 24 monday, the day after weekend when new fiat rolls into exchanges --> ATH.

Last of the V8s

legendary

Activity: 1652

Merit: 4393

Be a bank

Quote from: Torque on July 21, 2017, 10:52:47 AM

Quote from: podyx on July 21, 2017, 10:36:21 AM

And I expect the strength to continue pretty soon.

I don't. Call me bearish, but I think we've just seen the double top.

What would continue to drive the market up higher from here? Serious question.

short term: allaying these doubts - https://medium.com/@jimmysong/pathological-bip91-uasf-scenarios-102e2707991c

Aug 1st Jihan forks off or not?

short/medium: then pricing in this - 2017 August 23 or thereabouts — Difficulty Adjustment Period closes and BIP141 (Segwit) is active. https://medium.com/@jimmysong/uasf-segwit2x-scenarios-and-timelines-1a540336c4be

segwit/tier 2 being shown to have some goddam use

medium: 2017 November 18 or thereabouts — 2x Hard Fork (scheduled). ditto source

long: more attempts at big blocks cf minute 40 https://www.youtube.com/watch?v=W4Kcvi6eWT0&feature=em-lbcastemail Belshe/Corallo talks...
edit: found the twitter convo https://twitter.com/TheBlueMatt/status/886979645438078981
delays scaling debate for another year? then finally moonshot?

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: BlindMayorBitcorn on July 20, 2017, 05:42:53 PM

Quote from: BitUsher on July 20, 2017, 05:41:09 PM

Quote from: BlindMayorBitcorn on July 20, 2017, 05:26:23 PM

I learned my lesson when I thought side-chains would kill altcoins. So long as there's economic incentive BCC will happen

I agree it will happen. Jihan has figured there is enough of a market to pitch the pointless alt BCC to a small group . I think it will be profitable for those miners to sell these tokens to you.

Don't look at me. I ain't buying them

You won't need to buy them. You'll have them when the fork happens. One for every BTC you have.

What you do with them is up to you.

Quote from: JakaE on July 20, 2017, 06:17:51 PM

https://youtu.be/rLWAlWfgivA?t=43s

WTF ever was that?

Quote from: bitserve on July 20, 2017, 08:06:37 PM

In such scenario you better stock up cans of food, guns, ammo, gas, and any other useful stuff.

Can't really stockpile gas. Even after treatment with Sta-Bil, it gets gummy and useless after a year or so.

Don't forget water. If you think about it, municipal water is the strongest tool TPTB have to round the populace up.

Quote from: bones261 on July 20, 2017, 08:11:55 PM

If you have a gun, why food? There a plenty of stray cats, squirrels. rabbits, coyotes, beaver, etc near the creek.

After said wildlife becomes the only protein available to not only you, but the rest of humanity as well, how long do you think they'll last?

Quote from: Torque on July 21, 2017, 10:52:47 AM

What would continue to drive the market up higher from here? Serious question.

The price rebound & apparent resolution of the Bitcoin Two Years Civil War being yammered in the popular press.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: Torque on July 21, 2017, 10:52:47 AM

What would continue to drive the market up higher from here? Serious question.

the pent up innovations? the people holding fire until bitcoin could prove it was ready for the future? maybe nothing much is gonna happen in the short term and we've had our fun for now, but mid/long term a pressure valve has been released.

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