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

[macsga]

OK, this seems to be tided up a bit. I guess most of this thread turns back to its normal habits with usual regulars typing the same old things (ie: Mah, Ripple dood!)

By The Way:

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[jaberwock]

In some ways it is delightful we don't have as many full on trolls in here. At the same time, this has turned into a total echo chamber of delusion, again.

Agreed, this place (and others) has become an echo chamber for bitter ex-bulls (well, pigs) who have been burnt and are now constantly decrying Bitcoin because of their inability to realistically evaluate risks beforehand.

Quite the contrary, it has become an echo chamber for callous, flippant, condescending day traders who could really give 2 shits about Bitcoin's long term success as a game-changing financial instrument.

I wanna Bitcoin alive long term, so I can still get money from it. I guess most ppl want too for the same sole reason

[Walsoraj]

A commissioner at the Commodity Futures Trading Commission (CFTC) has asserted the agency has the authority to take enforcement actions against price manipulation in bitcoin markets.

Commissioner Mark Wetjen made the remarks at a bitcoin conference held at Bloomberg in New York on Monday.

When asked if the CFTC has the authority to become intervene in such an event, he said:

“It has not been tested, but I do believe we have the authority because bitcoin, by I think a very rational reading of our statute, classifies as a commodity and the definition of a commodity under the Commodity Exchange Act."

He added that this gives the regulating body the authority to bring enforcement on any type of manipulative activity, thereby broadening the reach of how a commodity can be defined.

Wetjen also recently spoke out in favour of flexible bitcoin regulation, saying digital currency has become important to the CFTC because bitcoin-accepting merchants have expressed the need to hedge exposures to fluctuations in its value.
...

http://www.coindesk.com/commissioner-claims-cftc-can-intervene-bitcoin-markets/

 

[jonoiv]

A commissioner at the Commodity Futures Trading Commission (CFTC) has asserted the agency has the authority to take enforcement actions against price manipulation in bitcoin markets.

Commissioner Mark Wetjen made the remarks at a bitcoin conference held at Bloomberg in New York on Monday.

When asked if the CFTC has the authority to become intervene in such an event, he said:

“It has not been tested, but I do believe we have the authority because bitcoin, by I think a very rational reading of our statute, classifies as a commodity and the definition of a commodity under the Commodity Exchange Act."

He added that this gives the regulating body the authority to bring enforcement on any type of manipulative activity, thereby broadening the reach of how a commodity can be defined.

Wetjen also recently spoke out in favour of flexible bitcoin regulation, saying digital currency has become important to the CFTC because bitcoin-accepting merchants have expressed the need to hedge exposures to fluctuations in its value.
...

http://www.coindesk.com/commissioner-claims-cftc-can-intervene-bitcoin-markets/

 

I don't know of any American exchanges.

[macsga]

A commissioner at the Commodity Futures Trading Commission (CFTC) has asserted the agency has the authority to take enforcement actions against price manipulation in bitcoin markets.

Commissioner Mark Wetjen made the remarks at a bitcoin conference held at Bloomberg in New York on Monday.

When asked if the CFTC has the authority to become intervene in such an event, he said:

“It has not been tested, but I do believe we have the authority because bitcoin, by I think a very rational reading of our statute, classifies as a commodity and the definition of a commodity under the Commodity Exchange Act."

He added that this gives the regulating body the authority to bring enforcement on any type of manipulative activity, thereby broadening the reach of how a commodity can be defined.

Wetjen also recently spoke out in favour of flexible bitcoin regulation, saying digital currency has become important to the CFTC because bitcoin-accepting merchants have expressed the need to hedge exposures to fluctuations in its value.
...

http://www.coindesk.com/commissioner-claims-cftc-can-intervene-bitcoin-markets/

 

That's refreshing. It's Scottish Douche with all these bearish news lately, but this one is refreshing. Smells CCMF.

[bad trader]

Speaking of manipulation, up $20 before China wakes up?

(Okay, maybe not that much, but I think someone wants this as high as possible before morning...)

[ChartBuddy]

Explanation

[Feri22]

Time to switch to ripple!

Then start a Ripple Wall Observer thread on the Ripple forum and see if you get to 9900 pages.

People will slowly change their mind. Ripple is the best option for crypto.

People will slowly realize, we need to change our financial system...Bitcoin is freedom, Ripple isn't......Bitcoin + sidechains + counterparty + you get my point = Don't need anything else....

Anyway, this is off topic and as other said, you should create another thread about it

[wachtwoord]

Time to switch to ripple!

Then start a Ripple Wall Observer thread on the Ripple forum and see if you get to 9900 pages.

People will slowly change their mind. Ripple is the best option for crypto.

Lol this guy 

[jaberwock]

Time to switch to ripple!

Then start a Ripple Wall Observer thread on the Ripple forum and see if you get to 9900 pages.

People will slowly change their mind. Ripple is the best option for crypto.

People will slowly realize, we need to change our financial system...Bitcoin is freedom, Ripple isn't......Bitcoin + sidechains + counterparty + you get my point = Don't need anything else....

Anyway, this is off topic and as other said, you should create another thread about it

just use ignore button and be happy

[Walsoraj]

Time to switch to ripple!

Then start a Ripple Wall Observer thread on the Ripple forum and see if you get to 9900 pages.

People will slowly change their mind. Ripple is the best option for crypto.

People will slowly realize, we need to change our financial system...Bitcoin is freedom, Ripple isn't......Bitcoin + sidechains + counterparty + you get my point = Don't need anything else....

Anyway, this is off topic and as other said, you should create another thread about it

Bitcoin is subjection to the will of a few mining pools that control enormous hashing power.

[galdur]

Bullish. On to 400.

[EFS]

some bs

Why do you keep saying "This user is currently ignored."? Can't you say something different for once. Ohhhh riighhttt  

Please don't quote already ignored trolls.

[Feri22]

Time to switch to ripple!

Then start a Ripple Wall Observer thread on the Ripple forum and see if you get to 9900 pages.

People will slowly change their mind. Ripple is the best option for crypto.

People will slowly realize, we need to change our financial system...Bitcoin is freedom, Ripple isn't......Bitcoin + sidechains + counterparty + you get my point = Don't need anything else....

Anyway, this is off topic and as other said, you should create another thread about it

just use ignore button and be happy

Maybe you are right  i just wanted to tell him politely to shut the f*** up 

[galdur]

Good morning my good man, what have you got for me today then?

er, the number 71 sir.

What's that then?

Well, it's the number 71. very popular you know, selling like hot cakes.

Brilliant, how much is it?

One thousand one hundred and twenty four dollars sir,

"One thousand one hundred and twenty four dollars, are you fucking nuts?"

Very popular today sir, just sold number 69 and number 53.

Why so expensive?

Because it's a currency sir.

But you said it was number 71!

Yes but it's not just any number 71, it’s a 'currency' number 71 you see, it's encrypted.

Why'd you encrypt it?

Well, so no one else can have it, obviously.

Ah, I get it. Ok count me in. Here's the cash, now where's the offending article.

It’s in here sir.

Where?

It's inside sir.

OK, so how do I get it out?

Well you jump in a plane and fly to Canada where there's an ATM somewhere that you can take it out from.

Peachy, just peachy. OK, so where can I spend it?

Any one of these places sir

Hmm, not very long is it? Is this just locally?

Kind of, well pretty much kind of worldwide, but it’s growing every day. Of course, most people don't actually 'spend' it, they just hold onto it for a while. If you buy a digital photo frame you’ll be able to look at pictures of nice coins you haven’t got.

I thought it was a currency? How long do I hold onto it for?

Till everyone else wants to get out I suppose sir.

And then it will be worth how much?

Fucking loads sir, very expensive sir, selling like hot cakes.

Sod that, what else have you got?

How about number 71 sir, very expensive, selling like hot cakes?

But I've just bought number 71.

Not in this format sir.

How much is this one?

$1.60 sir.

What? Why so cheap?

Cos nobody wants number 71 in this particular format sir.

Why not?

Because you can’t do anything with this one sir.

So why would I want to buy it?

Because everyone else is going to want to buy it very soon.

Why?

Because it’s the number fucking 71 sir, and there’s only one number 71.

But that’s what you said last time.

Yes but that was in that format. This is different. Different people already own it.

You’re fucking nuts. What else have you got?

This one’s just in sir, very special, it’s gonna sell like hot cakes sir, number 71…

Fuck that, can you get me a cab?

Not unless you’ve got some cash sir…

But I've just spent all  that buying this. I know, can I interest you in this number 71 I’ve just bought?

You must be joking sir, I’ve got billions of those in here…

[spooderman]

wow
so trolle
very efforte.

Some really do put more into their trolling that others.

[ShroomsKit]

wow
so trolle
very efforte.

Some really do put more into their trolling that others.

Where is your current buy in price? 220 or so? And next week you're gonna be totally surprised you didn't get your coins?

[spooderman]

wow
so trolle
very efforte.

Some really do put more into their trolling that others.

Where is your current buy in price? 220 or so? And next week you're gonna be totally surprised you didn't get your coins?

Are you actually a computer? That is not a human response to my post :S

I buy a few everytime I think it's silly cheap. If we hit mid 50s I'll buy a little. I'm generally a hodler, and occasional buyer.

[JayJuanGee]

Back to 330-350 thanks to day traders.

Why does day trading always mean we have to go down to them?

So, as I called yesterday, we have a downward stair pattern developing on the TA, there is the auction news which might not be bad but certainly creates a bit of uncertainty (will people low-bid these coins after what happened to Draper and if they underbid the market, will they try to cash in a portion quickly to consolidate gains), the order book is not quite as stacked, and the shorts are no longer overleveraged (which also shows you that it isn't just regular day traders moving the price).

If anything the last auction will show people that there are entities out there willing to pay pretty much market price and so not to enter low ball bids again.

I think that is wishful thinking. I think this auction will look a little more like a Bertrand oligopoly where bids are at cost. Nobody wants to be a punch line like Draper. I mean, dude is infinitely richer than I am and I still have an inner sense of superiority compared to that dunce. He overpaid at a proximate high on a s--- ton of coins he'll never be able to unload at that price ever. Nobody is going to pull that little stunt, again. Not after how hard he got burnt.

Yeah, right.  You are full of it, Newbie. 

During the last auction, the BTC price was around $600, and most likely Draper paid more than $650 - because otherwise he would NOT have been able to win all of the lots.

Do you really believe there is buyer's remorse there?  I doubt it.

Again, if the auction is currently occurring, an entity like draper's could be willing to pay more than 10% above the current market price.  Let's say currently $400 and bids at $450... NO fucking problem for people who believe in the future of bitcoin and they have the money....

Anyhow my prediction is that the coins are going above market value, NOT below market value... whether it is Draper or some other person or entity bidding on the coins and winning the bids.

[gentlemand]

wow
so trolle
very efforte.

Some really do put more into their trolling that others.

Where is your current buy in price? 220 or so? And next week you're gonna be totally surprised you didn't get your coins?

Are you actually a computer?

I truly believe this. Nothing but an automated program can produce such astoundingly consistent drivel.