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

[Andre#]

Bitcoin looking healthy again.

Yes, and blocks are still maxxed out.

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[bitebits]

Interesting last 24 hours statistics from ShapeShift.io (scroll down) new beta website.
There is clearly a bitcoin to altcoin surplus (Alt to BTC is a meager 15%). The only hard thing is to predict when in will pop.

[billyjoeallen]

There's a fella on r/btc doing a sterling job bringing the Chinese side of things to life. Here's his latest summary of Jihan Wu from Antpool's post on 8btc - https://www.reddit.com/r/btc/comments/495866/the_rbtc_china_dispatch_11_summary_selected/

What seems bizarre to me is that the HK CRTA comes out and the market shoots up from $375 to $450, a seventy five dollar increase. Then pools start coming out one at a time making it clear there is no consensus, and the market only retraces 60 bucks.

It seems like there should be more than a complete retrace.  28.4 million in leveraged longs on BFX. It seems crazy to say this, especially so close to the halving, but I think there is a real possibility that $300 will get another serious test of support.  There is still too much uncertainty with scaling and governance. 

Were you able to close those shorts that you had opened in the $370s and $380s?   Oh?  why am i asking?  it seems you are still predicting $300, so probably, you have not closed those shorts, yet.  Oh well... It's starting to seem more and more like $382 may have been the bottom... at least for now...

My short is a hedge because I am way too heavy and undiversified, having almost my entire life savings in Bitcoin. I WANT that short to blow up. It is a hedge. So no, I didn't close it and I won't until and unless it
1) blows up
2) I can see some tangible progress on the scaling, governance and mining concentration problems
3) there is a real, honest to goodness long squeeze.

[ahpku]

Bitcoin looking healthy again.

Yes, and blocks are still maxxed out.

This pleases Legacy Finance.

[doc12]

Here we go EPIC ETH DUMP imcoming    3100 BTC red dildo  


Hm BTC spam attack is over and ETH is crashing. What a coincidence 

[ChartBuddy]

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[noobtrader]

Here we go EPIC ETH DUMP imcoming    3100 BTC red dildo  


Hm BTC spam attack is over and ETH is crashing. What a coincidence 

btc spam attack is over... shhhhhh...  at least...   

[Spaceman_Spiff]

50 minutes since last block sucks if you are waiting for a transaction 

[ChartBuddy]

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[hdbuck]

50 minutes since last block sucks if you are waiting for a transaction 

hodlers still not affected tho

[Spaceman_Spiff]

50 minutes since last block sucks if you are waiting for a transaction 

hodlers still not affected tho

What the fuck has sending a transaction got to do with holding BTC or not?

[Fatman3001]

50 minutes since last block sucks if you are waiting for a transaction  

hodlers still not affected tho

What the fuck has sending a transaction got to do with holding BTC or not?

You misunderstand the situation. He really is that stupid.

[ssmc2]

If you're a trader and haven't bought back in yet you're doing it wrong.


disclaimer: i just hodl

[ZyclonRacerX]

50 minutes since last block sucks if you are waiting for a transaction 

hodlers still not affected tho

What the fuck has sending a transaction got to do with holding BTC or not?

Bitcoin is for hodling, not transacting (sodling). Delayed transactions are not a bug, but a feature: helping you hodl.
I'll give you an example, show you what I mean:
Say you decide to reward yourself for years of hodling with a pair of alpaca socks & some honey and/or honey products.
Your smart bitcoin wallet senses this, and automatically (and virtually instantaneously) calculates the tx fee required.
Required to have your bitcoins safely returned to you (or, rather, to it) in 72hrs, that is.

"Any sufficiently advanced technology is indistinguishable from dark magic."

[ChartBuddy]

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[Fatman3001]

50 minutes since last block sucks if you are waiting for a transaction 

hodlers still not affected tho

What the fuck has sending a transaction got to do with holding BTC or not?

Bitcoin is for hodling, not transacting (sodling). Delayed transactions are not a bug, but a feature: helping you hodl.
I'll give you an example, show you what I mean:
Say you decide to reward yourself for years of hodling with a pair of alpaca socks & some honey and/or honey products.
Your smart bitcoin wallet senses this, and automatically (and virtually instantaneously) calculates the tx fee required.
Required to have your bitcoins safely returned to you (or, rather, to it) in 72hrs, that is.

"Any sufficiently advanced technology is indistinguishable from dark magic."

Bitcoin is so full of nutters I have no idea if you're joking.

[rebuilder]

Bitcoin is so full of nutters I have no idea if you're joking.

That seems like yet another NLC alt. Hey Lambie, how many accounts have you worked past newbie status now? When do the fireworks start?

[Fatman3001]

Bitcoin is so full of nutters I have no idea if you're joking.

That seems like yet another NLC alt. Hey Lambie, how many accounts have you worked past newbie status now? When do the fireworks start?

It smells like a lambie account, I just haven't seen it before.

[BitconAssociation]

So I was telling Grandma about Bitcoin & how it's not for criminals, and she wanted to buy some.
Found this helpful post explaining how she should go about it:

I've done a lot of localbitcoins transactions, both as a buyer and as a seller, and I've never had an issue.  I take a few precautions, but so far they've never been necessary.

Typically, the localbitcoins transaction escrow is funded before we meet.

My preference is to meet in a public place (such as a fast food restaurant or coffee house).  I try to arrive earlier than the agreed time, and sit inside as far from any exit as I can, with my back to the wall so I can see who is entering, and which door they enter from. This allows me to see if the other party arrives alone or with a friend, and what direction he is likely to exit. It also means that the other party will have a distance to cover to get out which may allow me to chase, or shout, or gather information about them and their vehicle. In situations with a large amount of cash, I've had a friend come along with me and asked that friend to sit next to the most likely exit. I usually will buy a beverage from the business I am meeting in, and have it at the table with me.

It is important to remember though, that your health, and life are far more valuable than any amount of money you might lose.  If at any time before the transaction you feel concerned for your safety, you should just call it off and make other arrangements with someone else.  If, during or after the transaction, the other party becomes threatening or engages in any activity that risks your health or life (such as pulling out a knife or a gun) you and any friend you bring along should be prepared to just walk away and let the thief keep what they've taken.

Once we meet, my preference is:
The seller gets their mobile device ready to send the transaction while the buyer counts out the money for the seller to see that it's all there.  The buyer leaves the money on the table in view of the seller.  The seller then releases the escrow to the buyer and asks the buyer to confirm that they've received it.  Once the buyer confirms they've received the released escrow, the seller removes the cash from the table and re-counts it themselves in view of the buyer.  When both parties are satisfied that they've received what is due to them, they thank each other for a smooth and easy transaction and go their separate ways.  I typically remain at my seat and continue to sip at my beverage. It is obvious that I plan to finish my beverage before leaving, or if it happens to come up in conversation I mention that I'm going to finish my beverage and possibly order some food. This allows me to wait for the other party to leave and be comfortable that I'm not going to be followed when I leave.

Note that there can be variations to this scenario. There is no "standard" or "official" way of completing the transaction.  You'll need to be flexible enough to deal with any modifications.  For example, some people are uncomfortable with leaving cash sitting out on a table in public.  They may expect the cash to be exchanged discreetly.  Others might require you to complete your side of the transaction before they are willing to complete their side.  You might arrive and find that the other party is already there. Some people refuse to use the localbitcoins escrow service and will want to send or receive bitcoins directly.  You'll need to decide for yourself if someone's requirements are acceptable to you, and if not then find someone else to exchange with.

Note that, the business you are meeting at probably has more than $500 in their cash registers and office.  So, if the other party is going to use a weapon to try to get away with your cash, they can get a lot more for the exact same risk to themselves buy stealing from the business instead of you.  The other party also risks you contacting the police and being able to identify them, and they risk you leaving feedback on their localbitcoins account explaining to all future potential victims what happened.

Some risks to be aware of...

It is possible for a seller to pretend not to arrive and instead wait outside for you to leave. They now have a victim that they can wait for, knowing that you are carrying at least the specified amount of cash.  When you leave they can use a weapon to steal from you before you get to your vehicle, or they can discretely follow you and use a weapon to steal from you when you get to a less populated location (such as your house?).

If a seller sends directly to your wallet instead of using the localbitcoins escrow, it is possible for them to create a transaction that will take hours (or even days) to confirm.  They might do this on accident if they are using a poorly written wallet, or they might do it on purpose with the intention of attempting to invalidate the transaction later (before it confirms).  In either case, it can be difficult to agree on what should be done about this.  If possible, it may be a good idea to have an agreement ahead of time as to what will happen if the transaction doesn't confirm before either of you want to leave.

If a seller uses localbitcoins escrow, it is possible that they could fund the escrow but the localbitcoins service is down at the time of the transaction. It can be difficult to agree on what should be done about this.  If possible, it may be a good idea to have an agreement ahead of time as to what will happen if escrow is funded but localbitcoins is unavailable at the time of the transaction.

[ChartBuddy]

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