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

[ticoti]

what is the purpose of buying 10k bitcoins in every exchange on a downtrend ?

[Gyrsur]

on target.

[ChartBuddy]

Explanation

[inca]

what is the purpose of buying 10k bitcoins in every exchange on a downtrend ?

Buy low, hold, sell high.

[NotLambchop]

what is the purpose of buying 10k bitcoins in every exchange on a downtrend ?

It's a humiliation/degradation fetish hodlers have.  It may sound irrational (or even repulsive) to you and me, but hodlers are [presumably] consenting adults, so try not to judge.

[inca]

Still just under 17,000 potential shorts (btc swaps) according to bfxdata.
If the price moves up much higher things could get interesting quickly.

Bought again off circle just now - just for you LambChop.

[NotLambchop]

^Good, good...

[molecular]

what is the purpose of buying 10k bitcoins in every exchange on a downtrend ?

turning the tides

[Specular]

I am interested to see whether the "Bitcoin Bowl" will have any impact this Friday.

http://stpetersburgbowl.com/

[jaredboice]

NotLambchop: "This user is currently ignored." 

[FreeBambi]

Bought again off circle just now - just for you LambChop.

i bot on circle.com 2 and im only 9

I bot 500 dolars of bitcoin on circle.com with moms credit card. Super excited but hop she dont notise or im screved.

[bassclef]

what is the purpose of buying 10k bitcoins in every exchange on a downtrend ?

Accumulation. It is what smart money does. Then they sell them later at a higher price.

[dakota neat]

NotLambchop: "This user is currently ignored." 

You really hurt our attention whore with that 

[phoenix1]

what is the purpose of buying 10k bitcoins in every exchange on a downtrend ?

turning the tides

Isn't that what King Canute did ?

[macsga]

Another thing to take note of (apart from it's Christmas) is the difficulty chart. It went down 4% and the trend is still ''down''. It seems we somehow found a way to an equilibrium.

https://blockchain.info/el/charts/difficulty

[ChartBuddy]

Explanation

[franckuestein]

Another thing to take note of (apart from it's Christmas) is the difficulty chart. It went down 4% and the trend is still ''down''. It seems we somehow found a way to an equilibrium.

https://blockchain.info/el/charts/difficulty

It's obvious that bitcoin miners are minting at very low % of profit.
The bigger ones try to hold as much as they can to seel in "pumps" like the one that we've seen before. The others just shut-off their rigs to don't pay more in electricity than what they really earn.

Could be interesting to have the testimonial of some miners and know if they hold or sell all their minted btc's  

[LOBSTER]

Another thing to take note of (apart from it's Christmas) is the difficulty chart. It went down 4% and the trend is still ''down''. It seems we somehow found a way to an equilibrium.

https://blockchain.info/el/charts/difficulty

It's obvious that bitcoin miners are minting at very low % of profit.
The bigger ones try to hold as much as they can to seel in "pumps" like the one that we've seen before. The others just shut-off their rigs to don't pay more in electricity than what they really earn.

Could be interesting to have the testimonial of some miners and know if they hold or sell all their minted btc's  

The most miners haven't any profit...only the big mining data centers have a huge profit (e.g. KNCMiner). Maybe they are also responsible for the "pumps" as you said. I think the difficulty and hashrate will grow up really soon.

[molecular]

what is the purpose of buying 10k bitcoins in every exchange on a downtrend ?

turning the tides

Isn't that what King Canute did ?

I checked. He tried but failed.

In fact he wanted to show that kingly powers are nothing compared to godly ones.

We can draw a parallel here and later fly off on a tanget:

parallel: The actions of a single whale cannot turn the tides of the market. (edit: we've seen this today with the 2k dump)

tanget: The actions of many men in unison however can. (edit: because they constitute the market, we'll see this soon enough)

[macsga]

Another thing to take note of (apart from it's Christmas) is the difficulty chart. It went down 4% and the trend is still ''down''. It seems we somehow found a way to an equilibrium.

https://blockchain.info/el/charts/difficulty

It's obvious that bitcoin miners are minting at very low % of profit.
The bigger ones try to hold as much as they can to seel in "pumps" like the one that we've seen before. The others just shut-off their rigs to don't pay more in electricity than what they really earn.

Could be interesting to have the testimonial of some miners and know if they hold or sell all their minted btc's  

The most miners haven't any profit...only the big mining data centers have a huge profit (e.g. KNCMiner). Maybe they are also responsible for the "pumps" as you said. I think the difficulty and hashrate will grow up really soon.

I've posted a scenario of the current dump as a result of a ''big pool'' trying to drive down the price all these months towards closing down most of the competition. It has a point, since if you check days destroyed chart (same link) the sold coins seem like fresh mined. Maybe this is the case. Maybe it was just some big fish tank that wanted more coins for less.

What goes around comes around...