Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17122. (Read 26586302 times)

Ok lets explain what just happened.

We got pumped from 2200 to 2700 just in 2 days.
It is 250 a day.

We got dumped to 2200 and recovered to 2600, in one day!
That is 400 free recovery with out pump.

Now we will see bull pumping the price again.
It will start from 2600 having 500 capasitivity to pump it to 3100 level.

My chips are at 3100, 2 days to gain that.

New all time high may even be seen later today.

Heading up again. If we hit 3k, I suspect we'll get some real media attention and then watch out.

Every day that Bitcoin isn't dead like so many have predicted just consolidates its solidity.

We all know it "usually" drops a bit over the weekend so if today is ok can we say 2300 may be the lowest this weekend? Also bank holiday for us here in the U.K. on Monday if we affect the price at all.

Damn, back to $2.6k already, this weekend is going to be interesting 

pretty resilient so far, it might still go up after all

I'm honestly impressed we're even above $2k for any period of time, it seemed so recently it was "moon"

Everyone who is profiting needs to take a moment and appreciate where we are. No matter what happens. We got here. Nothing feels more validating then seeing $2500 a coin.

I am totally with you here. Doesn't even feel like a drop

Korea is used to red candles.  Their currency devalued by 50% overnight in the '98 asia currency crisis:



The USD will probably have an event like this in the near future where they devalue the dollar vs gold by an astronomical amount overnight.  #physicalsilverbitchez

I read through my post one more time, and I don't see myself saying what you are saying. What happened?

just for future reference https://coinone.co.kr/chart/?site=Coinone&unit_time=1D
thats a 34% drop ))

I don't see much problem with it (other than a perhaps over hyped paranoia of how powerful governments are at manipulating commodity prices). You prefer gold and silver. They are decent and historically fairly stable. A pretty safe investment. I do not discourage buying gold or silver. I was actually looking at some gold websites to see if that could be a "like-kind" transfer of my bitcoins if the price skyrockets in bubble fashion and I want to move out for a few months without tax implications.

However, how would I sell my gold back for bitcoins? Where would I store my gold? How can I move it to a new country?

As time has gone on I have realized that we spend a lot of money on protecting our property. We pay police, state governments, national armies to protect our property. Gold requires spending money either through taxes spent on a safe place to live where you can store your gold. It is a constant cost to keep people from taking your wealth.

Bitcoin does not have this cost. No government is required to protect my string of digits and letters. I can hold my wealth without needing a safe, home security system, local police department, national military, etc.

For some of my bitcoins I recently purchased some crypto-steel and stored some bitcoins on those. I just moved from Afghanistan to Korea spending a few weeks in Thailand, Cambodia, Vietnam and French Polynesia. By moving, that meant bringing my crypto-steel with me (not trusting it to some post office). So here I am traveling with these metal squares through various security. I spent about 15 minutes in Dubai trying to explain my crypto-steel to security (I had them wrapped in metalic tape to ensure nobody tampered with them). I finally had to unwrap one enough to show what was inside (I also had full chemical gear so that was part of the inquisition as well....long story). I ended up checking my bag in with the crypto-steel from there on out and was paranoid every minute that they were not in my possession. Every hotel I went to had to have a safe. I ended up in one hotel without a safe and I only left briefly to eat. I ended up using a bus instead of going on airplanes when I traveled due to the difficulty. Flying from Vietnam to French Polynesia I decided to keep the crypto-steel with me to avoid the worry I had before. I had to explain to a Vietnamese security guard what they were, I used pictures on my phone and was ok after 5 minutes (I was surprised when he said "oh, Bitcoin!").

If I had as much money as I have in bitcoins, in gold I would be carrying around 100lbs(may be way off) in gold from country to country. I can't imagine being mobile with gold.

For most people the cost of protecting your gold is already built into your lifestyle/taxes/home costs. For them, gold is a solid choice. Bitcoin has its place in the future economy and will be the choice for many people down the road, I don't see it as an all or nothing deal. It does not have to be.

Satoshi was not a coder, was more a mathematician. He only designed Bitcoin, but didn't wrote a single line of code. Others people did it and implemented Bitcoin in the real world, and made the Core.

Also your argument that Bitcoin is like nothing that already exists so it will fail is kind of...funny

Whats with GDAX/Coinbase... $100+ price difference between the major exchanges.

Satoshi was a talented coder, who didn't exactly seem like a visionary in economics and finance. He succeeded perfectly in creating a secure public ledger, that brought forward the idea of innovative and effective financial solutions. Bitcoin isn't a solution itself to any important financial or economic problems. It lacks a proper identity. It's not a proper currency, because it lacks the mechanism of price stability and it's not a proper asset because it lacks much use outside of speculation. It's value is mostly fueled by greed or by financial transactions the need the increased anonymity. I don't think that these things will hold the value high for very long. I see that the future is in development through alts. First we'll see first proper assets, and then in years to come, we'll hopefully also see the coming of a proper currency. Alts have the advantages to bring forward new radical change that is needed to increase the complexity of the system. Alts can bring forward fast development, while bitcoin development is stagnant in even the simplest technical changes.

I believe there was something on their TeamSpeak alluding to a solution in the near future, but nothing concrete

I would like to see someone like Marcus or Elwar who is all-in on bitcoin try to debunk my hypothesis that the economics of bitcoin don't actually work in the long term in comparison to metals:

Why the economics of bitcoin don't actually work - What Satoshi really meant when he said the price would either be a lot or zero

http://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-13-why-the-economics-of-bitcoin-don-t-actually-work-what-satoshi-really-meant-when-he-said-the-price-would

I have discussed some of this with Steve @ SRSRocco before and he didn't seem to see any holes in it.

Any reason why Bitfinex is lower than Stamp? Did they clear up their withdrawal issues? Or are people just confident that it will be fixed?

Have you ever cashed any out there Jimbo?

The funny part is all exchanges are in a down wedge, while the guy on GDAX who has been trying to manipulate the price upwards forever is trying to rig the market to paint the tape in a sideways channel.  Lol GDAX manipulator:

Everywhere else



GDAX



I've ALWAYS hated that GDAX guy because it means there is zero purpose in using GDAX if you're trying to buy cheap on dumps.  He just paints the tape to try and rig the market with his shallow 0.001btc bid wall support spam with no actual liquidity.  Not that I would actually be looking to buy right now in the first place at the top of a parabolic rise.