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

[infofront]

Been busy. Who won the auction for the girl?

You won! Enjoy a lifetime of nagging.

[jbreher]

The fact that the ESF has not yet attempted to destroy bitcoin means one of two [three] things:  1) either bitcoin is a govt sanctioned scam, or 2)  they just haven't gotten around to destroying it yet:

;or
3) Nobody will accept a naked short bitcoin, as it not only is a naked short, but it is no easier to obtain, hold, and secure than a real Bitcoin. Paper gold, OTOH, is much easier to obtain, hold, and secure than real gold - which is why (some foolish) people accept it.

[JimboToronto]

Been busy. Who won the auction for the girl?

You won! Enjoy a lifetime of nagging.

Ah, marriage, a great institution...

...if you want to live in an institution.

 

[fluidjax]

If everyone pulls their coins off the exchanges Aug 1st, I wonder if it will reveal that some of the exchanges are running a fractional reserve, because of reported or unreported hacks.

[becoin]

If everyone pulls their coins off the exchanges Aug 1st, I wonder if it will reveal that some of the exchanges are running a fractional reserve, because of reported or unreported hacks.

I was thinking of the same.

[JayJuanGee]

What would continue to drive the market up higher from here? Serious question.

What always did.
Bitcoin is an excellent store of value. Can't be confiscated. There are 16,4 million bitcoins currently in circulation. There will be only 21 million. There are more than 7 billion humans on this planet. Central banks are printing new money in hundreds of billions every month. This is more than enough to drive bitcoin price to really insane levels.

Yes yes, those are all valid reasons long term for the price of bitcoin to rise to great new heights in the future.

So let me rephrase my question.

What specifically will be so earth shattering for Bitcoin within the next 6 months that price will rise from here to "insane levels"?

You guys do realize that the total crypto market hit a high of $116B, and now with even this mega pump we are only back up $92B? Not even back to over $100B, nor do I see that happening within 6 months.

On a regular basis, you go from sanity to crazy talk.  There has to be some humor in that, no?

Let me see if I can engage with your "crazy talk" for a second.

What the fuck does the total crypto market cap have to do with anything regarding whether bitcoin is going to go up  or down?  If anything there is a loose connection, so I don't know what the fuck you are attempting to describe some kind of direct meaning to bitcoin in terms of the total crypto market cap.  We got a bunch of scams, including Ripple, ETH and ICOs in there.. Sure there is money coming into the space from institutional investors that is reflected in the total market cap of cryptos.. but come on.. bitcoin has fundamentals and bitcoin has some very bullish news in recent days - including this pretty much assured path forward for segwit... getting segwit locked in and activated is nothing to sneeze at.

Yeah, fuck, I am sorry Torque that you shorted or sold or something in the $2400 territories, but it seems that you will be very lucky if you are able to get back in anywhere below $2600 - and that might be a considerable stretch absent some very convincing FUD - because ordinary FUD is not likely to damper the current ongoing upwards BTC price pressures.

In other words, sorry for your loss.   

[bitserve]

Probably not enough to bankrupt an exchange unless they are totally under already. I don't think more than  50-70% of the BTC will get withdrawn.

If an exchange is missing some minor figure like 10-30% it will remain mostly undetected.

[lost_in_base]

If everyone pulls their coins off the exchanges Aug 1st, I wonder if it will reveal that some of the exchanges are running a fractional reserve, because of reported or unreported hacks.

I was thinking of the same.

Scary scenario, makes you think should you withdraw your btc just to be first.
Suchs exchanges would die at that point.

[Torque]

Yeah, fuck, I am sorry Torque that you shorted or sold or something in the $2400 territories, but it seems that you will be very lucky if you are able to get back in anywhere below $2600 - and that might be a considerable stretch absent some very convincing FUD - because ordinary FUD is not likely to damper the current ongoing upwards BTC price pressures.

In other words, sorry for your loss.    

1) I didn't sell

2) Quoted you for posterity. Barring some black swan event, I'm pretty sure that within 6 months from now that the bitcoin price is going to be much lower than where we are now. Markets don't go up forever (unless it's the U.S. stock market). I'm gonna have fun rubbing this statement in your nose in the future JJG.  

3) Oh, and everybody here knows that you are a troll

[FractalUniverse]

If an exchange is missing some minor figure like 10-30% it will remain mostly undetected.

and if its much more, we may get another Gox  

[JimboToronto]

If everyone pulls their coins off the exchanges Aug 1st, I wonder if it will reveal that some of the exchanges are running a fractional reserve, because of reported or unreported hacks.

The original premise of Bitcoin as stated in Satoshi's white paper, was trustlessness.

It's amazing how many people extend trust to strangers through the use of online exchanges and wallets.

[bitserve]

If an exchange is missing some minor figure like 10-30% it will remain mostly undetected.

and if its much more, we may get another Gox  

I really hope that's not the case. That would be a real fuck-up in terms of price in the middle of August.

On other news, BIP141 signaling support has reached 100%. As I said, things couldn't be going more smoothly.

[K~Ehleyr]

If everyone pulls their coins off the exchanges Aug 1st, I wonder if it will reveal that some of the exchanges are running a fractional reserve, because of reported or unreported hacks.

I was thinking of the same.

Scary scenario, makes you think should you withdraw your btc just to be first.
Suchs exchanges would die at that point.

Maybe that's why the price of Bitcoin has increased so much over the last few days... all the exchanges are buying up coins from one another to replace their shortfalls before they get found out  

[FractalUniverse]

bitserve: actually you scared me into thinking about temporarily withdrawing at least half of the funds from exchange - that would mean buying some coin at current price though, as im in fiat after missing bitcoin rally train.
to withdraw or not to withdraw. that is the question
ugh 

[Last of the V8s]

Lol even HostFat can hardly keep a straight face

snipsnip
Description:
Bitcoin Cash is a split from Bitcoin with a protocol upgrade to fix on-chain capacity. If Bitcoin Cash gets majority of PoW then it becomes de facto Bitcoin.
It will be a Bitcoin without segwit as soft fork, where upgrades of the protocol are done mainly through hard forks, without changing the economic rules of the Bitcoin.
This will be a fork of the Bitcoin blockchain, 1:1, so no-premining, no-ico (it is like a full airdrop)

My opinion:
While I support for sure the freedom of choice, you should be wise on touching this kind of things.
Your private keys are precious. Keep them safe

[machasm]

I don't keep my coins on exchanges but does anyone need to remove the coins? I mean isn't BIP148 now not going to happen since segwit will be in place before that date or have I got this all wrong?
(Still a little confused about the whole thing).

[Torque]

If everyone pulls their coins off the exchanges Aug 1st, I wonder if it will reveal that some of the exchanges are running a fractional reserve, because of reported or unreported hacks.

I was thinking of the same.

Perhaps people are already pulling their coins off exchanges, and that's why the market float is getting thinner.

[bones261]

I don't keep my coins on exchanges but does anyone need to remove the coins? I mean isn't BIP148 now not going to happen since segwit will be in place before that date or have I got this all wrong?
(Still a little confused about the whole thing).

It's the only way you will secure getting your new Bitcoin ABC coins.

[bitserve]

bitserve: actually you scared me into thinking about temporarily withdrawing at least half of the funds from exchange - that would mean buying some coin at current price though, as im in fiat after missing bitcoin rally train.
to withdraw or not to withdraw. that is the question
ugh 

I did? I am sure I have previously said that before end of month it would be better to not have open margin positions (for the increased volatility and risk of liquidation) and to ALWAYS (not specifically now) have the minimum amount of BTC on exchanges.

If you only have a minimum amount of BTC on exchanges IN RELATION to you total holdings, then it is somewhat ok, especially if you plan to trade the volatility.

FIAT is somewhat safe.... unless mtgoxed/bitfinexed....

Anyway, I don't know... I am just on the verge of settling the remaining of my margin long position at kraken thanks to the profits from the past two weeks. This same night if everything goes as expected. From that point on I will be playing safe, but not sure if I will withdraw the remaining BTC or keep trading.

80-90% of my BTC is on my Ledger though.... and will never touch an exchange again. If I want to trade moar, I will deposit more FIAT.

[d_eddie]

If everyone pulls their coins off the exchanges Aug 1st, I wonder if it will reveal that some of the exchanges are running a fractional reserve, because of reported or unreported hacks.

I was thinking of the same.

Perhaps people are already pulling their coins off exchanges, and that's why the market float is getting thinner.

This.
Volumes nearly halved since yesterday and the day before. It can't be just a weekend thing can it?