Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21380. (Read 26716096 times)

There is NO real pattern, here.   

BTC price movements are reflective of a variety of factors, including sentiment and up and down pressures.  This moment is NOT really a product of any specific pattern because we have NOT been to this moment in history previously.

Coin
Explanation

This account is not nearly as old as I am. I bought my first bitcoins in 2013 at $500-something.

A couple of months? You haven't even seen a bull market for Bitcoin

How the fuck do you keep the entire nation of China from buying Bitcoin?

Y'all spreading B.S.?

Will go down for multiple days imo.
I've been around long enough to recognise the patterns.

What is this about China "out of the way"?

Could someone provide a link?

Thank you Chef. I'm not much of a poster here lately, but feel free to pm me anytime if you have questions or want to take a trade. I almost always have a position open.

FYI not sure how much more pulling back the market will do as volume is trailing off and candle spreads narrowing/overlapping as the mini selloff grinds to a halt. Enough people are waiting for $260 that it may not happen.

No problem with the other types of transactions. Let the fees determine which make it on to the blockchain. If the fee for a transaction is $10 then you might use it for a 1 satoshi smart contract but not for a $3 cup of coffee.

What about all other types of transactions and apps to be built on the blockchain? It can be used in many other ways; security and validity of transactions is a function of the network size. It would be better to have a larger consensus. At the other end of the spectrum, we could have a million different blockchains, each so weak that they could be subverted by a planned attack. Eventually there is a sweet spot we will find, but in the mean time scaling to accommodate higher TPS at an early stage helps.

Coin
Explanation

Is this double spending issue a bad thing? What's going on regarding this? I have been gone all weekend and just found out.  That sounds super fucked up but I'm not technical enough to fully understand these implications.  


Besides that looks like we are on the upside...


http://www.coindesk.com/double-spending-risk-bitcoin-network-fork/

There will be ongoing "fuck you market" dumps from now until the end of time, roughly on the hour every hour, between 100 and 5000 coins (they're clever though, and split their dumps into multiple quick succession orders so as to make it not quite so obvious to anyone new to the market) and resulting in $1-10 in 1-5 minute losses in global bitcoin price.

It's not early adopters who "need fiat money" in a "hurry". They already have more fiat than they know what to do with and don't dump in a non-stop systematic fashion (they'd long ago have been out of coins) nevermind that they'd be able to get more fiat money if they sold 500 coins over the course of 2 hours than in 2 minutes. And it's not the big industrial miners, most of them have private off market contract buyers. Clearly it's the shorters market makers market manipulators market fuckers take your pick. These people have a deranged obsessive need (and financial motive) to desperately always and repeatedly try to force the price ever lower regardless of what the current price is. Crush the market with 1000 coins (most often borrowed coins) in 1 minute, wiping out everything from current price and down $3 or $4, re-buy at the price you just forced the market to go down by, or more, if you successfully cause a downward cascade from other parties, still have 1000 coins plus an extra couple thousand dollars, repeat perpetually until bitcoin dies.

*oh lookie one just happened as I was typing, about an hour after the last one, and an hour after the previous one, and ...

your missing the 'great chinese lockout' from your formula calculations. the chinese are panicing and have made new levels of panic mode.

yeah they are going to convince the greeks that debt slavery is in their's and "all of us" best interest. cant blame me us for the failing debt slavery system, for one thing i wasnt even born into the world when they started down that path. if have intelligence should be able to figure out that system was doomed to failure from the start. ridiculous that one mans debt slavery is another mans investment .. i'm vocal about it because they are stealing from me with their #abusivehightaxes and other schemes .. u not going to get the cooperation u want from people who know you are stealing from them .

What did I miss about China ?

IMHO, Greece & EU deal has a very small impact to BTC's price. The fact is that so many other things, are now ready to fall apart and they are much - MUCH bigger. Greece used to be the decoy that hid the main flaw of the ecosystem. Now that we're in front of a solution (whatever that might be), chances are we will have to face the music on a global scale. And NO, I don't think that "print more" will work this time...  

bc, your commentary I find is the most impressive and worthwhile content on this entire forum. Keep it up and wish we could get more of it. You're either really smart or really cool by default.

As far as I can tell, no one pays for coffee with bitcoin, and micro transactions are comparatively rare. And yet, here we are with full blocks, and very minimal global adoption.

Consensus from the enlightened seems to be: Buy alts, short btc. (Or wait for our magic sidechain to solve it for you.)

with china out the way is easier to smash down .. probably not 284, more likely 250 - 255 tomorrow morning . i'm HODL through the smash again .