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

[STT]

Ripple I read in a mainstream article described as superior to all other standards as it can encompass them all, so would outlast all of crypto.   Ive no idea if thats correct, I had thought it was centralised and so more vulnerable to corruption.

This morning based on last night I changed my view on bitcoin from bullish short term trend to challenged and its been back and forth today.   Staying within declining highs but also above 1670 in dollars for now, not sure if CNY is more significant but $ is easier to relate to for me.  Its currently reacting to those lows.   No idea of the real motivation, news or momentum to it

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[BlindMayorBitcorn]

It's just the alt coin shuffle. Litecoin is getting kicked out of bed to make room. There doesn't seem to be any logic to it.

[bitserve]

It's just the alt coin shuffle. Litecoin is getting kicked out of bed to make room. There doesn't seem to be any logic to it.

Now that XRP is popping it looks like LTC and BTC can continue its road.

[White sugar]

It's just the alt coin shuffle. Litecoin is getting kicked out of bed to make room. There doesn't seem to be any logic to it.

But roach said that anyone that buys the LTC double low would have more profit than anything

[deepcolderwallet]

It's just the alt coin shuffle. Litecoin is getting kicked out of bed to make room. There doesn't seem to be any logic to it.

But roach said that anyone that buys the LTC double low would have more profit than anything

I remember that 

[BlindMayorBitcorn]

If you didn't quote it I didn't see it. There's an ignore button there for a reason.

[Pursuer]

https://twitter.com/ToneVays/status/864307998742761472

wut?! Something is about to pop hard

coinmarketcap shows a different number, bitcoin first close to 28B and Ripple second with 11.5B

Yah.. He is using the total supply of xrp... Ofc he is trolling and trying to get raise some red flash 

http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/

Actually right now Ripple shows in 1st place and Bitcoin 2nd.

#    Name    Market Cap    Price   Total Supply    Volume (24h)    % Change (24h)   Price Graph (7d)
1    Ripple Ripple    $31,271,273,545    $0.312729    99,994,799,156 XRP *    $298,033,000    34.40%    
2    Bitcoin Bitcoin    $27,714,801,664    $1696.88    16,332,800 BTC    $804,322,000    -5.29%

let me just put some emphasis on what you just wrote here.
Ripple Total Supply = 99,994,799,156 XRP (~100 billion)
bitcoin Total Supply = 21,000,000 btc (21 million)

Ripple circulating Supply = 38,305,873,865 XRP
bitcoin Total Supply = 16,332,937 btc

nice stats when you look at it this way, isn't it.

[Okurkabinladin]

Since we hit a support line at around 1650, we might stay here for a couple of days.

Any thoughts on, if we continue all the way down to 1200 or bounce back to 1800 first?

By the way, the panic was amusing, but it is clear as day we are looking at market consolidation, not start of a bear market.

[AlexGR]

In the meantime, ripple bubbling to more than 1/3 of BTC marketcap in no time. Do you think it´s ripe to short the hell of or will continue pumping?

My suggestion is to never short banker(-backed) coins. Let it pump, let it dump - who cares. If crypto people wanted centralized solutions they'd own bank stocks.

[Herbert2020]

In the meantime, ripple bubbling to more than 1/3 of BTC marketcap in no time. Do you think it´s ripe to short the hell of or will continue pumping?

My suggestion is to never short banker(-backed) coins. Let it pump, let it dump - who cares. If crypto people wanted centralized solutions they'd own bank stocks.

"crypto people" were once like this, but now they all want profit.
so when they see a pump they join in, the pump gets bigger, then more join in and the pump gets bigger, the experienced ones get out with lots of profit and others get dumped on and stop being "crypto people" at least for a while until they realize their mistakes.

[Iranus]

https://twitter.com/ToneVays/status/864307998742761472

wut?! Something is about to pop hard

coinmarketcap shows a different number, bitcoin first close to 28B and Ripple second with 11.5B

Yah.. He is using the total supply of xrp... Ofc he is trolling and trying to get raise some red flash 

http://coinmarketcap.com/currencies/views/market-cap-by-total-supply/

Actually right now Ripple shows in 1st place and Bitcoin 2nd.

#    Name    Market Cap    Price   Total Supply    Volume (24h)    % Change (24h)   Price Graph (7d)
1    Ripple Ripple    $31,271,273,545    $0.312729    99,994,799,156 XRP *    $298,033,000    34.40%    
2    Bitcoin Bitcoin    $27,714,801,664    $1696.88    16,332,800 BTC    $804,322,000    -5.29%

let me just put some emphasis on what you just wrote here.
Ripple Total Supply = 99,994,799,156 XRP (~100 billion)
bitcoin Total Supply = 21,000,000 btc (21 million)

Ripple circulating Supply = 38,305,873,865 XRP
bitcoin Total Supply = 16,332,937 btc

nice stats when you look at it this way, isn't it.

The Ripple developers can do whatever the hell they want with that pointless XRP that they're holding.  They could dump huge amounts of it on exchanges to line their fat pockets a bit more.  As well as being centralised and controlled by bankers, that makes it much worse than any of the scam coins that premine 15% and then dump.

The reason that guy's Twitter isn't insanely popular is because he's lying.  If the Ripple organisation dumped all that XRP, the market cap would be next to 0.  The only thing that matters to the market cap is the circulating supply (not that the market cap itself matters anyway).

[Karartma1]

too many differences in every exchange book right now.   

Good for arbitrage, of course

[Mervyn_Pumpkinhead]

I can feel the hatred of XRP among the bitcoin zealots here. One day they will learn, that a fixed supply currency that's value is based on artificial scarcity, won't have a very successful future

[Qartada]

I can feel the hatred of XRP among the bitcoin zealots here. One day they will learn, that a fixed supply currency that's value is based on artificial scarcity, won't have a very successful future

Nor will a banker's currency attempting to imitate a cryptocurrency despite the centralised supply and existence of pegged tokens.  I'm no "Bitcoin zealot", but XRP is irrelevant to how Bitcoin does.  It's not a cryptocurrency and even its market cap is nowhere close to Bitcoin.

[bitserve]

I can feel the hatred of XRP among the bitcoin zealots here. One day they will learn, that a fixed supply currency that's value is based on artificial scarcity, won't have a very successful future

Maybe you are right. How's doing your MLN? Isn't it's value also based on artificial scarcity? What would you suggest as something with a very sucessful future?

[luckygenough56]

altcoins are waaaayyyy too expensive

[Mervyn_Pumpkinhead]

Maybe you are right. How's doing your MLN? Isn't it's value also based on artificial scarcity? What would you suggest as something with a very sucessful future?

I let go of my MLN for a small ~5% profit. The markets of LTC, ETC and XRP were just too attractive to distance myself from crypto trading for the time being. This volatility is the reason why I play this game. But everything has an end. When the crypto markets finally overheat and will experience the familiar boring slow downfall that they always do in the end, then I'll probably go back to MLN for the long-term trade (if i won't find something better meanwhile). During these slow downfall periods it's just not profitable or fun enough to spend your time on the crypto markets. You just pick an inexpensive and potential crypto and return when things are exciting again

[HI-TEC99]

Is there any news from bitfinex? The longer it prevents withdrawals the higher the price seems to go. There's no one clear source of information, just multiple reddit acconts linked to bitfinex reps making posts in multiple reddit threads.

[Totscha]

altcoins are waaaayyyy too expensive

All the monies going to XRP and XLM, that's what's wrong...

[Mervyn_Pumpkinhead]

I can feel the hatred of XRP among the bitcoin zealots here. One day they will learn, that a fixed supply currency that's value is based on artificial scarcity, won't have a very successful future

Nor will a banker's currency attempting to imitate a cryptocurrency despite the centralised supply and existence of pegged tokens.  I'm no "Bitcoin zealot", but XRP is irrelevant to how Bitcoin does.  It's not a cryptocurrency and even its market cap is nowhere close to Bitcoin.

What the average Joe doesn't understand is that almost all the cryptos are centralized. Some are open about their centralization while others are not. While ones take public responsibility for regulating the markets, then others don't. Most of the cryptos are centralized around the biggest holders and the exchanges that run the largest volumes of that crypto (who are most often the same entities). These people don't like to be public about their control of the market, because that helps them avoid responsibility
All the virtual units (wannabe currencies or not) that are pushed through this unregulated exchange network are relevant to each-other. If you don't see that, then I recommend you to stay away from trading.