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

[Heater]

Tether being discussed on Bloomberg.

I have read Bitfinexed’s critique of the Friedman audit of Bitfinex. It’s pretty clear that Bitfinexed has no experience of interpreting audit reports and is going at completely the wrong issues.

That said, Bitfinex has done a piss poor job of managing the issue.  It should publish monthly transparency reports at the least, and those reports should be signed off by Friedman.  So it only has itself to blame.  And attempting to sue people rather than improve its reporting practices is a bad sign.

Yep.

The concept of Tether is great, but because it's the fiat on/off ramp it needs to be run the same way the fiat world runs otherwise it **will** get shut down one day. We have seen this story before. No amount of "secret sauce" can stop it forever.

If one of the big banks (or nation states?) steps up and creates a USD tether with all the audit bells and whistles, AML & KYC  and all that crap it will be a huge boon for the whole ecosystem.

BTW when the feds do finally freeze all the tether bank accounts, all that money is going to flow back from the shitcoins to the Honey badger. It will be an epic day.

Edit:
https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange

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[arklan]

btw, that drop to 11640 on stamp was what i called earlier... shame i didn't have the guts to wait, and bought above that. dammit!

[gentlemand]

Yep.

The concept of Tether is great, but because it's the fiat on/off ramp it needs to be run the same way the fiat world runs otherwise it **will** get shut down one day. We have seen this story before. No amount of "secret sauce" can stop it forever.

If one of the big banks (or nation states?) steps up and creates a USD tether with all the audit bells and whistles, AML & KYC  and all that crap it will be a huge boon for the whole ecosystem.

BTW when the feds do finally freeze all the tether bank accounts, all that money is going to flow back from the shitcoins to the Honey badger. It will be an epic day.

I doubt those potential Tether dollars can be linked to Tether in any way other than in the minds of the Tether operators. They could be anywhere in any account and they're not going to name it 'Me Tether Account' either.

And no bank is going to specifically create something that eases crypto trading.

[600watt]

btw, that drop to 11640 on stamp was what i called earlier... shame i didn't have the guts to wait, and bought above that. dammit!

that was not a drop, that is just noise.  no one called a move from $118 to $116 a drop back in 2013.

[marcus_of_augustus]

Never fear we have Tether2.0 and 3.0 in the pipeline already.

Jibrel network looks like it might be Tether on steroids with a decentralised bank, initially super-charged with money-market funds to be precise and then whatever traditional asset can be tokenised in the jurisdiction the tokeniser operates.

https://jibrel.network/

(No I'm not shilling for Jibrel ICO, just saying Tether is just first salvo in fiat-crypto route-around war with ludicrous AML/KYC facsist financialism.)

Tether being discussed on Bloomberg.


The concept of Tether is great, but because it's the fiat on/off ramp it needs to be run the same way the fiat world runs otherwise it **will** get shut down one day. We have seen this story before. No amount of "secret sauce" can stop it forever.

If one of the big banks (or nation states?) steps up and creates a USD tether with all the audit bells and whistles, AML & KYC  and all that crap it will be a huge boon for the whole ecosystem.

BTW when the feds do finally freeze all the tether bank accounts, all that money is going to flow back from the shitcoins to the Honey badger. It will be an epic day.

Edit:
https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange

[Ibian]

Anyone know if you can trade on gdax without a coinbase account? Cause I don't wanna set up anything coinbase.

[Torque]

Real question:

Would anyone here really be that sad if by Dec 2018 we were only at say, $12-13k?

Are people's expectations getting ridiculous now considering the hella run up we had this year?

What if we were around $5k by the end of 2018?    The long termers should still be good, no?     The ones who bought later, might be scrambling a bit, unless they already planned for various possibilities, including downwards.  

Even $5k is not seeming too likely, but if we go shooting up to $18k or something like that, we could thereafter correct 80% or something like that and hover around those territories for a decent amount of time, no?  80% off of $18k would be in the $3600 arena, which even though extreme, does not seem unreasonable or outside of reasonable exuberant market movements, no?

Yeah we could see that. I guess anything is possible. But usually when everyone is expecting something to happen, it never happens.

I'm also not seeing the same kind of crazy daily if not hourly volatility that directly preceded the market top in Nov 2013. So that makes me think that we aren't there yet.

[Ibian]

Real question:

Would anyone here really be that sad if by Dec 2018 we were only at say, $12-13k?

Are people's expectations getting ridiculous now considering the hella run up we had this year?

What if we were around $5k by the end of 2018?    The long termers should still be good, no?     The ones who bought later, might be scrambling a bit, unless they already planned for various possibilities, including downwards.  

Even $5k is not seeming too likely, but if we go shooting up to $18k or something like that, we could thereafter correct 80% or something like that and hover around those territories for a decent amount of time, no?  80% off of $18k would be in the $3600 arena, which even though extreme, does not seem unreasonable or outside of reasonable exuberant market movements, no?

Yeah we could see that. I guess anything is possible. But usually when everyone is expecting something to happen, it never happens.

I'm also not seeing the same kind of crazy daily if not hourly volatility that directly preceded the market top in Nov 2013. So that makes me think that we aren't there yet.

Also nobody is really excited. I mean, I don't know what it would take for me at this point. Another tenfold rise maybe?

[gentlemand]

Also nobody is really excited. I mean, I don't know what it would take for me at this point. Another tenfold rise maybe?

Us oldies don't count. It's them noob emotions you have to keep an eye on.

[ragnar0k]

Also nobody is really excited. I mean, I don't know what it would take for me at this point. Another tenfold rise maybe?

Us oldies don't count. It's them noob emotions you have to keep an eye on.

I've seen way more seniors than us noobs bearing around lately!

[jbreher]

I just checked Coinmarketcap and they say it's over 10kEUR. Bitcoinaverage, whom I trust more, say it's only 9990EUR.

Do we consider this landmark reached?

Well, average has crossed a few times, but both Kraken and Stamp not yet. So for me, the landmark is not reached yet.

I think that there is a natural tendency for humans to 'cash out' at human-friendly prices. So I expect a fair amount of hodl > sodl at 10K Euro. Accordingly, perhaps the relevant question is not when we reach 10K, but rather when we leave it in the rearview.

Aren't you supposed to be a bear?

Said who? You need to quit stereotyping people animals. If you don't it'll turn you into a social pariah someday.

Your bench selfie. Or are you one of those genderfluid unicorns?

No. Just extremely hirsute. If you had any sort of inkling the ostracism I've had to deal with due to simple vagaries of divergent genetics, you'd likely change your tune. If you have either a heart or a brain, that is.

[Rosewater Foundation]

Also nobody is really excited. I mean, I don't know what it would take for me at this point. Another tenfold rise maybe?

Us oldies don't count. It's them noob emotions you have to keep an eye on.

I've seen way more seniors than us noobs bearing around lately!

We've seen things you can only imagine. 

[explorer]

A big short is forming..?
https://www.bloomberg.com/news/articles/2017-12-04/the-next-big-short-hedge-funds-prepare-to-trade-against-bitcoin


spooked
again

Are you feeling any better about this?  The more I think about it the more it worries me...

Nope. There will be tears. But what can you do?

But these turds need tu buy a shitload of BTC first before shorting for a big fall, or i am wrong? If i am right, price has to be pumped as hell first before that.

Someone sure as hell flooded the market with new money between the time he called bitcoin a fraud, and now that his company is calling it the "New Gold".

Let's say you had access to billions of investment dollars...  And you want to open a lot of short positions say... oh I dunno... December 10th?  What would you do with bitcoin between august and then...  and then what would you do right after Dec 10?

I'm hoping Goldman and JP duke it out in a fit of greed. Like JP is all set for their manufactured market crash, then Goldman or Fidelity just decides game on bitch and pumps that shit. See, now BTC is the 24/7 financial arena for the old world to battle with.

You got to wonder would old financial giants see clearly and put differences aside, unite, and sling a rock at the young but growing Goliath? Or will they claw at each other?

More than likey they are all cannibalistic sociopaths.  They've been circling each other with smiles forever,  Bears eating salmon in the river... or smaller Bears, if they get too close.

[jbreher]

Anyone know if you can trade on gdax without a coinbase account? Cause I don't wanna set up anything coinbase.

Request is ... straaaange.

I don't know.

GDAX _is_ Coinbase. Just another view thereof.

[JimboToronto]

Ugh. I feel like such a loser. I just swept a paper wallet with 0.4BTC in it.

I needed a little cash in a hurry so I bought $5000CAD at the local ATM.

Phuque I hate spending any of my precious coins but I guess if I had to do it, today was as good a time as any. Unfortunately, the sell rate was up so I only got a little over $14k per coin including fees.

I guess I shouldn't bitch though. I still made over 50% profit over what I paid in November. That's the beauty of buying the dip. If you have to sell, it's pretty much guaranteed to be at a profit.

Hopefully I'll get to buy it back soon.

[BlindMayorBitcorn]

Ugh. I feel like such a loser. I just swept a paper wallet with 0.4BTC in it.

I needed a little cash in a hurry so I bought $5000CAD at the local ATM.

Phuque I hate spending any of my precious coins but I guess if I had to do it, today was as good a time as any. Unfortunately, the sell rate was up so I only got a little over $14k per coin including fees.

Hopefully I'll get to buy it back soon.

Jimbo sodl! epic!

[BlindMayorBitcorn]

Ugh. I feel like such a loser. I just swept a paper wallet with 0.4BTC in it.
I needed a little cash in a hurry so I bought $5000CAD at the local ATM.
Phuque I hate spending any of my precious coins but I guess if I had to do it, today was as good a time as any. Unfortunately, the sell rate was up so I only got a little over $14k per coin including fees.
Hopefully I'll get to buy it back soon.

Jimbo sodl! epic!

Bitcoin is dead.

[Dharnchuks]

Ugh. I feel like such a loser. I just swept a paper wallet with 0.4BTC in it.

I needed a little cash in a hurry so I bought $5000CAD at the local ATM.

Phuque I hate spending any of my precious coins but I guess if I had to do it, today was as good a time as any. Unfortunately, the sell rate was up so I only got a little over $14k per coin including fees.

I guess I shouldn't bitch though. I still made over 50% profit over what I paid in November. That's the beauty of buying the dip. If you have to sell, it's pretty much guaranteed to be at a profit.

Hopefully I'll get to buy it back soon.

How does paper wallet work? Just hearing of it for the first time.

[LewisPirenne]

Those Koreans are crazy now at almost 1.5 mio BTC/KRW, i.e. close to 14K BTC/USD on Bithumb.  BTC/JPY also made a new high near 1.45 mio BTC/JPY on Bitflyer. 

[Torque]

I needed a little cash in a hurry so I bought $5000CAD at the local ATM.

You can get that much out of an ATM in Canada?    

On another topic, Coinbase stopped reporting exactly how many accounts are being created monthly. Now their webpage just says "10M+ customers served" Which is like bullshit because they were just at 12.4M. Smells fishy, like they are trying to hide something.