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

[bitserve]

Hey everybody, crypto market caps are totally real!!  XRP is now > 50% of Bitcoin's market cap virtually overnight!! It's all real!  Bitcoin is doomed!! /s

 

Wait until XRP guys eventually start taking profit and then we talk about market caps again

[rjclarke2000]

All joking aside....

What's going on then? Ripple half of bitcoin marketcap and bitcoin dominance 46% and we are at $1800.

Shits gone crazy.

[European Central Bank]

All joking aside....

What's going on then? Ripple half of bitcoin marketcap and bitcoin dominance 46% and we are at $1800.

Shits gone crazy.

there never was a status quo. it's still  being created every single day. who knows what the new normal is gonna be this time next year?

[leowonderful]

All joking aside....

What's going on then? Ripple half of bitcoin marketcap and bitcoin dominance 46% and we are at $1800.

Shits gone crazy.

Shitcoins are pumped every single day, XRP was barely worth anything until now. It popped into existence on the coin dominance board and it's not even decentralized, with creators holding billions of XRP and also making them. There's nothing to worry about. It is simply the new normal and market capitalization charts nowadays are NOT true at all unless you filter out all the bullshit.

[BlindMayorBitcorn]

Or the world needs digital gold and digital cash and the alt market is simply a reflection of our technical inability to provide both.

[STT]

I think you're overestimating the importance of that. Especially for BTC. I mean really, who gives a rats ass? Why would ANYONE buy more BTC because of some fumbling American president? So some markets are down, they'll be up again in a little while. No reason that would be caused by American politics. If instability or mismanagement in American politics would mean a rally in BTC we'd all be rich already.

Its not that anyone cares that much directly (most are concerned about themselves lets be honest) especially traders outside the USA.  However the dollar is a reserve currency used as a proxy for global commerce.   If the figure head to a system that has 20 trillion of debt and commands many important trade routes is faltering it matters, it even matters to us in bitcoin.    Bitcoin does bare a relation to dollar and China buying bitcoin also relates to their desire to buy dollars, partly as a proxy via bitcoin.

Obviously there any many different factors and nothing is absolute but typically the market flicks from bullish uptrends to negative sentiment and withdrawal of liquidity from various markets.   Hot money often moves fast on news not just actual changes but the perception of a possible event occurring.   Trump is not going anywhere I think but still we have risen a great deal since he was elected and its not entirely coincidental that this is true of stocks and bitcoin and many things

[marcus_of_augustus]

The US markets have been rallying since Nov. election on the illusion that Trump and republican congress will implement business-friendly policies, mostly tax-cuts. Turns out anything Trump (or congress) tries to do immediately gets mired in manufactured controversies thrown up by the competing factions in the Deep State proxy wars. This impeachment train is just the latest but will ensure nothing gets done for at least another 12-18 months as Washington consumes itself into yet another drawn out politico shitshow of intrigue and internecine double-dealing as the Justice system and laws get gutted for power and personal gain ... the rats are eating their own phase of an empire in decline.

tl;dr markets are tanking as it now becomes clear that nothing is going to get done (especially not tax cuts) in washington so back to status quo stagnation and slow decline as massive governmental bureaucracy sucks the life-blood out of the country. (markets were over-extended on false hopes beforehand so the selling might be quite epic)

[Ted E. Bare]

OKCoin new all-time high @ 11000 BTC/CNY!

[Torque]

OKCoin new all-time high @ 11000 BTC/CNY!

Dat wall doh

[marcus_of_augustus]

OKCoin new all-time high @ 11000 BTC/CNY!

Chyna back on a rampage

[mymenace]

The US markets have been rallying since Nov. election on the illusion that Trump and republican congress will implement business-friendly policies, mostly tax-cuts. Turns out anything Trump (or congress) tries to do immediately gets mired in manufactured controversies thrown up by the competing factions in the Deep State proxy wars. This impeachment train is just the latest but will ensure nothing gets done for at least another 12-18 months as Washington consumes itself into yet another drawn out politico shitshow of intrigue and internecine double-dealing as the Justice system and laws get gutted for power and personal gain ... the rats are eating their own phase of an empire in decline.

tl;dr markets are tanking as it now becomes clear that nothing is going to get done (especially not tax cuts) in washington so back to status quo stagnation and slow decline as massive governmental bureaucracy sucks the life-blood out of the country. (markets were over-extended on false hopes beforehand so the selling might be quite epic)

straight from the playbook, its like watching a time portal of the political landscape when hoover tried the same things

On taking office, Hoover said that "given the chance to go forward with the policies of the last eight years, we shall soon with the help of God, be in sight of the day when poverty will be banished from this nation."[122] Having seen the fruits of prosperity brought by technological progress, many shared Hoover's optimism, and the already bullish stock market climbed even higher on Hoover's accession.[123] But within months of taking office, the Stock Market Crash of 1929 (also known as Black Tuesday) occurred, and the worldwide economy began to spiral downward into the Great Depression.[124] The causes of the Great Depression remain a matter of debate,[125] but Hoover viewed a lack of confidence in the financial system as the fundamental economic problem facing the nation.

https://en.wikipedia.org/wiki/Herbert_Hoover

[savetherainforest]

OKCoin new all-time high @ 11000 BTC/CNY!

Chyna back on a rampage

Last call... All aboard!??   

[bitserve]

The next THREE hours are critical. Going up.

[DaRude]

lol now NEM added $800MM in market cap over night (literally like over last 24hrs) srsly wtf is NEM?? Is my screen broken?

Or is every shitcoin being pumped to delude BTC's dominance  

This is indeed an interesting ahem critical time

[bitserve]

lol now NEM added $800MM in market cap over night (literally like over last 24hrs) srsly wtf is NEM?? Is my screen broken?

Or is every shitcoin being pumped to delude BTC's dominance  

This is indeed an interesting ahem critical time

When XRP started dumping Ripplers ran out to the next shitcoin, mostly NEM and DOGE.

Everything is ok, don't worry. They are already drying out of coins to pump and eventually a good chunk of those funds will come back to daddy.

[DaRude]

lol now NEM added $800MM in market cap over night (literally like over last 24hrs) srsly wtf is NEM?? Is my screen broken?

Or is every shitcoin being pumped to delude BTC's dominance  

This is indeed an interesting ahem critical time

When XRP started dumping Ripplers ran out to the next shitcoin, mostly NEM and DOGE.

Everything is ok, don't worry. They are already drying out of coins to pump and eventually a good chunk of those funds will come back to daddy.

Thats fine, i actually prefer them $$ in shitcoins, acts as a hedge against big dumps

[Denker]

Any idea who Shilbert is dealing with?

https://twitter.com/barrysilbert/status/865076196845006848

[bitserve]

Any idea who Shilbert is dealing with?

https://twitter.com/barrysilbert/status/865076196845006848

He is probably doing what has to be done.

In Litecoin, having a well known creator as Coblee is, it was easier to reach some consensus. In Bitcoin, that's way harder, but if the right people joins affort and are able to come to a compromise everything is doable.

My best luck to Silbert. We really need it.

I am perfectly fine with the agreement of activating Segwit now and increasing the blocksize to 2MB before than a year.

Guys, this is the best offer for both sides that we are gonna get, better for everyone to start supporting it now.

P.S.: I don't like the idea of a hard fork (which would be needed to increase the blocksize) but, let's be real here, even with Segwit+LN we will need that increase soon if Bitcoin keeps growing. Better now than later, plus.... if that's the compromise needed to finally reach an agreement that solves the scaling issue... what the hell, I am all in!

[Dotto]

I like it, but before a year is way too away in the future. In the cryptospace is like a decade. Why not before 21 sept?

The gears of the machine are getting heavy and noisy

[marcus_of_augustus]

It's gotten too late now for a simple blocksize bump, with all the pathetic politicking and ego-tripping on display, resulting in the current blocking of genuine progress.

The only hardfork that will achieve consensus now will solve the blocksize limit and fee pressure regulation from it's activation time all the way through until we transition to the non-reward regime ~2036.

Short-term HF blocksize bumps will just give the DDOS attackers newer bigger and more deadly targets to aim for, whilst continually agitating for the next HF blocksize "short-term" bump in the interims and then creating mayhem and disruption during the HFs.