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

[N12]

a couple of tor sites seized =/= entire system collapsing/being government seized

put the Drama-Queen Mode: Off

Nomen est omen for our Newbie.

If you lack greed, you lack energy. Same thing for fear. They just need to be kept in check.

Here, look how clouded by greed I am in my expectations:

IMO the most probable thing is just a larger sideways, even if it fluctuates a lot from our microscopic view. It is hard to outdo this 5th October event. At the same time, we obviously have lots of overhead resistance, and it would take a long time to get through.

The thing is just that even if we go to 400, 500, it can fit into a sideways. TO DA NOWHERE!

[NotLambchop]

...Bitcoin is not a currency and it will not be for a long time. Most important properties of Bitcoin: digital, no counterparty, no monetary policy. Bitcoin is the modern incarnation of precious metals, a kind of super silver...

In the sense that it's an outmoded anachronism with rapidly dropping USD price?  Sure.

[Newbie1022]

a couple of tor sites seized =/= entire system collapsing/being government seized

put the Drama-Queen Mode: Off

It's bad. If you don't have a black market, a market that draws consumer demand but where the vendors don't convert all of their proceeds into fiat, then what are you left with? Major retailers (who dump the second somebody spends their coins) and Wall Street (who can make a hell of a lot more money through dumping than pumping... it's easier, less risky, and very lucrative to sabotage).

It's bad. It may actually work to your benefit in the short-term, but it is very bad and getting worse -- that much be said.

[ChartBuddy]

Explanation

[N12]

Amateurs, geezes fucking christ...

This is why we can't have nice things! Shit go south real quick when amateurs get dollar signs in their eyes

You sure sound like a pro blaming everything you dislike about the market (WHY OH WHY ARE THERE NO STRAIGHT LINES UP FOREVER, /Shroomskit) to some externality, "amateurs".

...Bitcoin is not a currency and it will not be for a long time. Most important properties of Bitcoin: digital, no counterparty, no monetary policy. Bitcoin is the modern incarnation of precious metals, a kind of super silver...

In the sense that it's an outmoded anachronism with rapidly dropping USD price?  Sure.

If you think an asset with those three properties (Who the fuck needs those, amirite?) is not desirable enough to warrant a rising price (as has happened the past years), too bad for you. Keep stuck in your 2014 view.

[Newbie1022]

So things are very bearish now right?

It's tricky if you are looking short term. We are in the middle of a pump and TA would tell you that our next target is $370. Looking longer term... I think this is scary news. That's my take. It's not only the implications of these guys getting shut down and maybe having even more seized coins dumped on the market, but it is the tenor of hostility by regulators towards BTC, in general.

Some will disagree. Read their points. Tough to assess. I'm sitting out, watching, and seeing if there is anything to learn from this.

[N12]

How to become a trading pro: Enter position based on gut feeling. Don't have any plan to realize possible gains because you are a long-term hodler after all. Get stuck when tide turns on you, you obviously can't sell anymore because that would mean locking in a loss, thus making you wrong. Start posting frantically about how this is the fault of x and y and z.

Congratulations, you have become a ShroomsKit.

[oda.krell]

a couple of tor sites seized =/= entire system collapsing/being government seized

put the Drama-Queen Mode: Off

It's bad. If you don't have a black market, a market that draws consumer demand but where the vendors don't convert all of their proceeds into fiat, then what are you left with? Major retailers (who dump the second somebody spends their coins) and Wall Street (who can make a hell of a lot more money through dumping than pumping... it's easier, less risky, and very lucrative to sabotage).

It's bad. It may actually work to your benefit in the short-term, but it is very bad and getting worse -- that much be said.

I'm not going to advertise their names, but if you think there are no more (established) Bitcoin taking darknet market places, you are mistaken.

[Thomas-s]

So OpenBazaar will launch soon?  

[ssmc2]

a couple of tor sites seized =/= entire system collapsing/being government seized

put the Drama-Queen Mode: Off

It's bad. If you don't have a black market, a market that draws consumer demand but where the vendors don't convert all of their proceeds into fiat, then what are you left with? Major retailers (who dump the second somebody spends their coins) and Wall Street (who can make a hell of a lot more money through dumping than pumping... it's easier, less risky, and very lucrative to sabotage).

It's bad. It may actually work to your benefit in the short-term, but it is very bad and getting worse -- that much be said.

I'm not going to advertise their names, but if you think there are no more (established) Bitcoin taking darknet market places, you are mistaken.

He's mistaken about many things.

[N12]

I'm not going to advertise their names, but if you think there are no more (established) Bitcoin taking darknet market places, you are mistaken.

Come on man, this forum needs its dose of psilocybin.

[Wandererfromthenorth]

So OpenBazaar will launch soon?  

Still in beta, I think December or January version 1.0

[tarmi]

lol

authorities confiscating BFL wallet with 24 k, bunch of SR 2.0 places going down, bitstamp talking about taking down accounts that are not verified (they are requesting ID, they are not giving you a second chance to withdraw)...all this regulatory news are actually bullish.  

what is next, havelock, bitcointalk, mircea, goat going down?

good news for holders indeed.

I need more bull fud to open new shorts, please continue. 

[ssmc2]

So OpenBazaar will launch soon?  

Still in beta, I think December or January version 1.0

But what if they shut it...oh wait, nevermind 

[Thomas-s]

lol

authorities confiscating BFL wallet with 24 k, bunch of SR 2.0 places going down, bitstamp talking about taking down accounts that are not verified (they are requesting ID, they are not giving you a second chance to withdraw)...all this regulatory news are actually bullish.  

what is next, havelock, bitcointalk, mircea, goat going down?

good news for holders indeed.

I need more bull fud to open new shorts, please continue. 

You're doing it wrong if you're shorting now.lol.

[bassclef]

Well there certainly is very little sell pressure on these rallies. Sellers on vacation, demand rising.

[N12]

lol

bitstamp talking about taking down accounts that are not verified (they are requesting ID, they are not giving you a second chance to withdraw)

You aren't thinking like a criminal. The criminals will just acquire fake IDs, get verified, buy BTC and withdraw.

I actually think this was a manipulative move done by Bitstamp to stop its descent and propel it upwards. I expect many more of such manipulations by hodlers, and inevitably some will succeed, as did Willy.

Hell, Bitstamp probably has a whole folder with detailed emergency procedures of what to do when the price gets too low for them. Remember that at equivalent volume levels in BTC, a declining price means declining profits for them.

[Newbie1022]

a couple of tor sites seized =/= entire system collapsing/being government seized

put the Drama-Queen Mode: Off

It's bad. If you don't have a black market, a market that draws consumer demand but where the vendors don't convert all of their proceeds into fiat, then what are you left with? Major retailers (who dump the second somebody spends their coins) and Wall Street (who can make a hell of a lot more money through dumping than pumping... it's easier, less risky, and very lucrative to sabotage).

It's bad. It may actually work to your benefit in the short-term, but it is very bad and getting worse -- that much be said.

I'm not going to advertise their names, but if you think there are no more (established) Bitcoin taking darknet market places, you are mistaken.

There are. It still doesn't make bad news good news. It makes bad news less bad news unless you expect those other sites to absorb 100% of the SR 2.0, et. al. customer base. Also, at what point do those other sites just decide it's not worth it or get shut down themselves (OpenBazaar might be promising on this front as they are better equipped for evading authorities). I guess I am just saying... don't skip down the street and declare something poignantly bearish as bullish... don't be delusional.

[tarmi]

lol

bitstamp talking about taking down accounts that are not verified (they are requesting ID, they are not giving you a second chance to withdraw)

You aren't thinking like a criminal. The criminals will just acquire fake IDs, get verified, buy BTC and withdraw.

I actually think this was a manipulative move done by Bitstamp to stop its descent and propel it upwards. I expect many more of such manipulations by hodlers, and inevitably some will succeed, as did Willy.

Hell, Bitstamp probably has a whole folder with detailed emergency procedures of what to do when the price gets too low for them. Remember that at equivalent volume levels in BTC, a declining price means declining profits for them.

knock knock bitstamp.

mr regulator is at your doorstep.

no more shady business/willy bots.

[N12]