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1  Other / Meta / Should merit be disabled on Bitcoin Wall Observer? on: September 04, 2020, 04:04:18 AM
Congrats to both JSRAW and d_eddie. Well deserved and welcome to the club.
Toxic on deck.

Lesson 1 on how to become a bitcointalk legendary...

-Hang out in the wob thread.
-don't spam,
-don't commit shitcoinery....
-and don't be a dick.

(I know... I can be a dick, but I was grandfathered in...)

This was my original motivation to write this thread, I have not engaged in the BWO thread much, but from my limited engagement of that thread, I can tell it was an extremely toxic community, its hard enough to get into their community of <20 people, but if you post ANY bearish TA on the thread, you will be absolutely ostracized, especially if you are not part of their upper echelon. So I have come here to make my case on whether or not this community really deserves their 11000+ merits that has been circulating between each other.

Lets look at original intent of the Wall Observer thread and how it holds up now

Wall Observer
A free service brought to you by the bitcoin community

Whenever there is a significant change in market depth, please update this thread with a new depth chart, and a good price chart with some TA is also welcome, feel free to comment on these if you have something to worth contributing, ( if your post is not at all TA it will be deleted )

Posting guild lines:
 Please lets keep this thread clean. ( I will be removing any off topic posts )
 Do not post random comments on this thread, unless it is directly related to the last wall update (ex. The 20K ask was was NOT sold into, it was removed after being tested)
 When you post a chart please use bitcoincharts.com, mtgoxlive.com, btccharts.com or bitcoinity.com (This information may be out of date)

Recommendations
Do: Post TA and news items related to Bitcoin, engage in friendly debate and banter, ignore people who offend or insult you
Don't: Be a drama queen

lets look at the first line for now
Quote
Whenever there is a significant change in market depth, please update this thread with a new depth chart, and a good price chart with some TA is also welcome, feel free to comment on these if you have something to worth contributing

Now even at a quick glance of the last few pages of the BWO thread, its quite apparent that almost 80% of the posts are completely irrelevant to the bitcoin price, while there is some (still not a majority) of discussion about bitcoin in general, the vast majority of the talk on BWO is irrelevant to the subject at hand.

Quote
( if your post is not at all TA it will be deleted )
Anyone with half an eye will be able to tell this has not been followed for a very long time, i dont really blame infofront, as there are ALOT of posts, but the fact that he let it slide at the start has caused this massive problem to begin with.

Quote
Please lets keep this thread clean. ( I will be removing any off topic posts )

same as above

Quote
Do not post random comments on this thread, unless it is directly related to the last wall update (ex. The 20K ask was was NOT sold into, it was removed after being tested)

same as above

Quote
Don't: Be a drama queen

There is quite a bit of drama in the thread, theres people berating others for posting bearish TA, and then theres people throwing shit at each other for not holding up a (joke) offer of beer if price fell below a certain price.

In conclusion, most of WBO is just banter/jokes or just plain chit chat, the only person I could find who consistently posts TA is Toxic2040, and so I would like to make it clear, I have no problem with Toxic2040, only with the rest of the WBO community.


Now all of this would be fine and dandy under normal circumstances, I really wouldn't give a shit if there was a toxic community doing whatever they want, my main issue comes from the merit circulation within this thread.

Let us look at the original purpose of merit

What is Merit?

Merit is a new system created in order to reward quality contributions to the forum.

The original purpose of merit was to reward quality contributions to this forum... Let us now see how this holds up on BWO

I will now share the last few merited posts from WBO, im not gonna be picking and choosing.

Once more for the people in the back...bitcoin cannot sustain prices greater than $10k. It's nothing more than a fantasy. Proven by science and maths.

Idiots like you is why I am proud of having suffered through an actual physics degree instead of lying to people on internet forums about what math and science have "proven". And I think you meant to say disproven. Because the first thing they tell young scientists: you cannot prove something. You can only disprove something.

2 merits, irrelevant to bitcoin price, does not add anything to the actual arguement for any price movement, and is mostly just random. I would not deem this a quality contribution.

Once more for the people in the back...bitcoin cannot sustain prices greater than $10k. It's nothing more than a fantasy. Proven by science and maths.

Finally!!!!!!

A positive sign.  

aka... proudhon


 Wink

This never really gets old

https://www.youtube.com/watch?v=A7TuFy0fcuw

The proudhon song (bitcoin is a bubble)

1 merit, again irrelevant to bitcoin price, its just mainly banter, i dont see how this would qualify as a quality contribution.

Once more for the people in the back...bitcoin cannot sustain prices greater than $10k. It's nothing more than a fantasy. Proven by science and maths.

Finally!!!!!!

A positive sign.  

aka... proudhon


 Wink

1 merit, once again, just banter

Well i think you get the point, lets now look at the merit flow for one of the WBO regulars..




this is not an isolated case, nearly all the WBO regulars get all their merit from WBO and send all their merit back into WBO, this is basically due to a feedback loop, WBO members meriting each other because "haha funny joke" rather than any posts being of actual significance which add something to the discussion or forum

This basically means that merit has become insanely inflated in WBO and legendary rank has become relatively easy to earn, really demeaning the value of the rank, legendary rank was supposed to be reserved for people who get merited alot due to their contributions to this forum, but due to WBO, there have been alot of new legendaries who really just got alot of merits because they pleased the WBO community and participated in the echoing of their opinions between each other, This is problem is also exaggerated due to signature campaigns, legendary rank members can gain a very high price for their signature, which also rewards the members of WBO and provides them incentive to continue this practice.



If any of you disagree with me and think im wrong for any reasons, feel free to reply here, I would like to hear your arguements.

edit: changed title from "Should bitcoin wall observer thread be deleted" to "should merit be disabled on bitcoin wall observer"
2  Economy / Speculation / Scalping on 15m chart on: August 19, 2020, 11:24:55 AM
Starting new topic because it was irrelevant to the topic i posted it on before

Could see sometihng like this happening





got the dump now looking for reversal
3  Economy / Speculation / We will likely see a sharp increase then decrease in price on: June 12, 2020, 12:14:30 PM
I had posted this some time ago, as you can see we were in a sort of a ascending triangle, so I was expecting a small decline to around 9050, which worked out well, currently im in a long position, looking to hold it till 10700 and then open some shorts

4  Economy / Games and rounds / Any bernie supporters want to bet? Offering 3:1 odds on: April 03, 2020, 09:38:23 AM
If you believe that bernie will win the 2020 elections, I am offering 3:1 odds on a bet, If bernie wins the election you get 3x the initial bet, and nothing if he loses  Grin (Im not offering bets against bernie, only in favour of him) (It is for the presidential elections)

I will only be taking the bets in ethereum at this address- 0x854058553dF87EF1bE2c1D8f24eEa8AF52A81fF1

Maximum bet size is 1 ETH

I will publicly keep track of all the bets but If you desire I can privately keep track of your bet.

You must post a signed message from the address you send me the ethereum from so I know it is you.

For now Its empty, but I will update it later - http://prntscr.com/rs63pb
5  Other / Meta / Someone infect me, my username is still lame on: April 01, 2020, 08:22:47 AM
I want my username to be infected like the cool kids  Cool Cool
6  Economy / Speculation / we all were waiting for bitcoin halving, we got bitcoin price halving on: March 12, 2020, 07:50:49 PM
Bitcoin halving combined with this bitcoin price halving will surely leads to greater rise in price

Less bitcoin earned by miners --> Price of bitcoin is less --> Miners refuse to sell at loss --> Lower seller means buy pressure is high --> Buy pressure is high means price is high
7  Economy / Speculation / After the last recession, bitcoin went up 2000000% what will happen this time? on: March 12, 2020, 07:45:31 PM
Slight clickbait title, but after 2008 financial crisis bitcoin was created and went from 0.01 USD to 20,000 USD, which begs the question, will bitcoin act as a safe haven as people have been calling it for years? Or will the price cripple alongside every other asset? The current price very much feels like could make new lows at 2k, what do you all think?
8  Economy / Lending / Can i get a loan with my account as collateral? (Member with 59 merit) on: March 10, 2020, 04:57:47 PM
Is anyone willing to give a loan? Its not a large amount (0.05>) I saw there are some no collateral loans but they are for Sr. Members +, so was wondering if any such service for just Members
9  Economy / Trading Discussion / How to take advantage of barts? [Tutorial] on: March 10, 2020, 01:01:22 PM
So I think every single bitcoin trader has been annoyed and lost money due to so called Bart patterns, in this post i will explain how you can profit off of them!

So every Bart pattern begins with a very fast rise up (usually in a single candle)
In this case it happened during 2 seperate candles with a small sideways gap in between.


After that we go sideways for a while


and after that we have a steep downwards move


So now that you know the steps that a Bart pattern takes you must be thinking "Ill just short during the sideways movement and profit!", well you would be right, but theres a reason most people who try to do that fail, its due to the "liquidity wicks" (or that's what I call it anyway)


Now a normal retail trader would short, and then set a stoploss (if he wasnt gambling) right above or a few dollars above the highest point in the sideways pattern, but the thing about Barts is that they are pure manipulation, and usually whales who create the Bart pattern have too much money, and if they had shorted during the sideways move, the price would have instantly collapsed, so what they do is buy a little and make the price go higher than the recent highs, this causes the retail traders to either, stop out of their shorts (which causes buys to close their short position) or to enter new longs, because they think bitcoin broke out of the resistance of new high, this is where the whale steps in and starts shorting, using all of the liquidity and filling up their orders completely and then subsequently dumping the price and massively profiting.

This area of stops and longs is called a liquidity pool



So in conclusion, next time if you spot a bart pattern in progress and want to make money off of it, set your shorts a few dollars above the recent high and your stop much higher than you would usually keep it (about half the length of the upwards bart candle) of course due to the increased risk because you kept your stop higher, this requires larger risk appetite than most have, but you should know that this is also a very high probability trade, and ive seen it only fail a single time. Cheesy
10  Economy / Trading Discussion / Im calling the bottom [TA] [7650 was the bottom] on: March 10, 2020, 01:00:21 PM
We all know the growth curves for bitcoin, but for some reason everyone forgot about them and got crazed by the recent dumps, well what actually was happening was that we were just going to retest the bottom growth curve! (Which is historically the reason for bullruns)



If you look in on smaller timeframes its even more apparent

11  Economy / Speculation / Im calling the bottom [TA] [7650 was the bottom] on: March 10, 2020, 12:47:18 PM
We all know the growth curves for bitcoin, but for some reason everyone forgot about them and got crazed by the recent dumps, well what actually was happening was that we were just going to retest the bottom growth curve! (Which is historically the reason for bullruns)



If you look in on smaller timeframes its even more apparent

12  Economy / Speculation / How to take advantage of barts? [Tutorial] on: March 08, 2020, 02:10:04 PM
So I think every single bitcoin trader has been annoyed and lost money due to so called Bart patterns, in this post i will explain how you can profit off of them!

So every Bart pattern begins with a very fast rise up (usually in a single candle)
In this case it happened during 2 seperate candles with a small sideways gap in between.


After that we go sideways for a while


and after that we have a steep downwards move


So now that you know the steps that a Bart pattern takes you must be thinking "Ill just short during the sideways movement and profit!", well you would be right, but theres a reason most people who try to do that fail, its due to the "liquidity wicks" (or that's what I call it anyway)


Now a normal retail trader would short, and then set a stoploss (if he wasnt gambling) right above or a few dollars above the highest point in the sideways pattern, but the thing about Barts is that they are pure manipulation, and usually whales who create the Bart pattern have too much money, and if they had shorted during the sideways move, the price would have instantly collapsed, so what they do is buy a little and make the price go higher than the recent highs, this causes the retail traders to either, stop out of their shorts (which causes buys to close their short position) or to enter new longs, because they think bitcoin broke out of the resistance of new high, this is where the whale steps in and starts shorting, using all of the liquidity and filling up their orders completely and then subsequently dumping the price and massively profiting.

This area of stops and longs is called a liquidity pool



So in conclusion, next time if you spot a bart pattern in progress and want to make money off of it, set your shorts a few dollars above the recent high and your stop much higher than you would usually keep it (about half the length of the upwards bart candle) of course due to the increased risk because you kept your stop higher, this requires larger risk appetite than most have, but you should know that this is also a very high probability trade, and ive seen it only fail a single time. Cheesy
13  Bitcoin / Development & Technical Discussion / Where can i download bitcoin 0.3.19? on: March 07, 2020, 10:43:34 AM
So as Bitcoin version 0.3.19 Is the last version of bitcoin made by Satoshi, I kinda wanted to download it, but wherever I try to download from, either doesnt have it or says "Moved to github/bitcoin.org" and when I checked bitcoin.org it only has down till 0.3.21

Does anyone have a working link to download bitcoin 0.3.19?
14  Other / Meta / I received 1 merit for exactly 10 posts on average. on: March 01, 2020, 02:36:05 PM
Its not a very important thing but i just noticed that I had received 1 merit on average for every 10 posts i made!

15  Economy / Trading Discussion / Turning 0.005 BTC to 1 BTC? Trading Journal | Currently 268% in Profit on: February 01, 2020, 08:52:15 AM
I know what you all are thinking, a 20,000% Gain? Impossible right? Well you're probably right but who cares, im gonna try anyway.

I deposited 0.005 btc on Jan 30 2020 on bitmex (img), I will now record my trades and setups here, hope you can gain something from this!  ( Transferred from bitmex to bybit now)

My current setup (will be updated) - TA



Trades

1. shorted at 9458.5, After a few hours, i took profit at 9262. This resulted in a 0.0002 BTC profit, which is a 4% gain for me. (img)

2. longed at the price i took profit at, which was 9266.5, after which i took profit at 9395, which was a total profit of 0.0001 BTC, which is a 2% gain for me. (img)

3. Shorted with 300 contracts at 9395. This was one of my better trades as I took profit at 9260, 9145 and 9295. Which resulted in a total of (drumroll please) 0.0006 BTC Profits!! Which means i have grown my intial 0.005 BTC to 0.006 BTC now! It was a nice 20% ROI in only 2-3 Days. (img)

4. I made a 0.0002 BTC loss, i completely accept this was a stupid blunder but i accidently bought the contracts for ETH instead of BTC, the recent spike in eth caused me to lose a bit. But not to worry, i made back my loss and then some in my fifth trade.

5. I put in a series of shorts at prices i thought would be resistances, the prices were, 9600, 9500 and 9436. All these averaged out to 9491. The recent pump to 9600 triggered all these shorts but we dumped before we hit my stoploss. This has put my current position into a 0.0016 BTC profit. But i dont plan on taking profit right now, i will hold on to this position and readjust my stoploss to ensure this is a guarenteed profit from now (img1, img2)
Update: Took some profit (100 contracts) at 9193.5 Thinking it goes back up to 9250 so im gonna reenter some shorts there (img

6. This was my position (img)
I had locked in profits of 0.0053 (brought down the stoploss) which ultimately got stopped out due to a pull back, which brought my total balance to 0.0124 BTC (approx 150% profit from the start)

7. Longed at 9473 (img)
Thinking that we bounce from here all the way to around 10400 and complete a sort of cup and handle play. Update: Price didnt react as i expected it to, now thinking price goes down again to test 8285, so i closed my position for a 21 mBTC profit bringing my total balance to 0.012

8. Shorted 8694 (img) Took profit of around 40mBTC bringing total balance up to 0.0184

9. Laddered shorts at 6200,6300,6400, stop at 6500, 100 contracts each (img)

Current balance- 0.0184 BTC (268% profit) (img)
16  Bitcoin / Project Development / Start accepting cash in your bitcoin business (I said it right) on: November 13, 2019, 07:03:35 PM
So there are all these payment providers these days  which allow users to pay in bitcoin and allow vendors to receive dollars in the same transaction, but theres a major problem here-

Bitcoin is for the unbanked

What if i want to start a business and I dont have a bank account? Its fairly easy enough to start accepting bitcoin, but its actually really complicated to start accepting dollars. Most customers want to pay in dollars and I can only accept bitcoin. This creates a unique problem i dont think many people have thought about, I think it is a major factor why bitcoin is not being used in rural areas more.

I am actually one of the persons affected by this unique  problem most people dont think about, afterall almost everyone here is from western countries and has easy access to banking.

Is there any solution to this? If not I believe in this idea enough that I will work towards building this service. Is anyone with me here?
17  Economy / Scam Accusations / Flag on Bounty_Manager on: October 11, 2019, 08:30:27 AM
I hired this man to hold a bounty campaign for me, there had been complains from the start from the bounty hunters, he was not counting stakes properly and basically not  doing his job, on 20 september the bounty campaign ended and he asked me tokens eth for gas and his payment, i sent all of them the very hour, infact i gave him 0.1 eth which i believe was way more than enough to send the tokens, till today not a single token has been distributed and many people are angry at me and now i dont know what to do, and today i discovered that he sent 0.06 of the eth which i sent him for gas to an unkown address (https://etherscan.io/tx/0xbfc56c7f8aec33492be049e4c2070f67f86e8feea4b9b962180bde8667e411d5)

I have asked him multiple times to distribute tokens, his responses have varied from none to "ill do it tomorrow" and never doing it and with no furthur response to my questions.
He seemed to have decent reputation as he had alot of jobs as bounty manager with no negative trust or any such previous actions

screenshots-
asking for extra payment (that i did give him, i recognise this was a bad decision)-
http://prntscr.com/phtq5l
(i realise this was a terrible decision dont need to tell me)
http://prntscr.com/phtqjo
(again asking for more payment outside of agreed payment)
http://prntscr.com/phtrjp
(trying to guilt me)
http://prntscr.com/phtrrd
(it was not even close to done)
http://prntscr.com/phts7x
http://prntscr.com/phtsgv
http://prntscr.com/phtspt
link in the image- https://docs.google.com/forms/d/e/1FAIpQLSdohuKAulb5r1VlS5Zgfa1ifxf0sgG9m5VnhL5Au45j_UNQUg/viewform
http://prntscr.com/phtt3u
http://prntscr.com/phttcr

problems in telegram for bounty-
http://prntscr.com/phttqj
http://prntscr.com/phttyt
http://prntscr.com/phtui6
http://prntscr.com/phtv04
http://prntscr.com/phtvd4
http://prntscr.com/phtvhb
http://prntscr.com/phtvro

proof he is the person in the screenshots-

http://prntscr.com/phu6hq

http://prntscr.com/phu6u5

Here is the bounty campaign https://bitcointalk.org/index.php?topic=5177126

sign the flag- https://bitcointalk.org/index.php?action=trust;flag=836
18  Local / India / Buy bitcoin from binance? on: October 02, 2019, 11:42:12 AM
So recently you can start buying bitcoin from binance using debit card, but since banks are closing accounts which use bitcoin, is it safe? If i use my debit card to buy bitcoin on binance will my bank account close?
19  Alternate cryptocurrencies / Altcoin Discussion / A truly stable coin on: September 01, 2019, 07:52:46 AM
I was thinking a bit about stable coins, there are a few ways stable coins get their stability

1- Tethering, most popular example being Tether
2- Arbitrage opportunities, most popular example being DAI

But theres a crucial problem in both methods, they are pegging themselves to the USD, one way or another, and USD isnt exactly stable in the long term
http://prntscr.com/p09axn
In the 10 years bitcoin has existed, USD had had a volatility of 47% overall, thats not very stable now is it?
So i got to thinking, is there a way to have a crypto with a true value, this would obviously be achieved by using a method similar to DAI and not backing the crypto by anything, as the assets have fluctuating prices aswell.
To start of i think we should create a crypto that is pegged to the 2019 USD (or 2020 because that looks better + it might take a few months to develop this)

Is anyone with me on this?

edit: a better explanation
I'm still struggling to wrap my head around the concept.  Can you explain it in a few sentences?

Think of it like this, the price of bitcoin is volatile, some times its $10,205 some other time its $9,856. Suppose we take a screenshot in time and the price at the time was $10,000. What this proposed coin would do is be pegged to the value of $10,000.

Now replace bitcoin with the US dollar and replace $ with absolute value.

If I do what I state in the previous example, the coin will have a value of $10,000, but the value of the dollar itself fluctuates, which I can complete rule out be pegging it to absolute value instead of the dollar.
20  Economy / Speculation / After the last recession, bitcoin went up 999999900% what will happen next? on: August 31, 2019, 07:38:33 AM
The title is kinda clickbait, but when bitcoin was first invented, it was done right after the 2008 recession, so from the last recession bitcoin went up approx 999999900% (0.001$ to 10,000$)  Grin
So what will happen if we get into another recession? Global yeild curves are inverting and stuff so it looks like we might be having a recession soon
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