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

[bitserve]

Ok, Litecoin has just surpassed bitcoin for the 24 hour total dollar volume on worldcoinindex.com

We are officially fucking nuts.

That's not what coinmarketcap shows.... but it is getting closer though.

Even more bizarre is that Tether is now at $1.06... So they are paying a 6% premium for a crypto coin pegged to USD 1:1 which redemption isn't even garanteed/enforcable. Hilarious.

Ok, Litecoin has just surpassed bitcoin for the 24 hour total dollar volume on worldcoinindex.com

We are officially fucking nuts.

People are tired of $20 transaction fees and vendors of stuck bitcoin transactions. Average litecoin fee is under 50 cents. If I were selling on the marketplace I would be accepting litecoin only right now until LN is working well.

It's obvious what is happening, but us HODLers are historically reluctant to accept the facts we don't like. Last week I've sent 0.1 BTC to a friend, had to send 0.101 (0.001 fee) to have a chance that transaction will go through in reasonable time. 0.001 BTC = $15, and that was last week, this week situation with mempool is even worse, doubt that transaction will be confirmed without 0.002 fee. If anyone is going to send crypto between exchanges a lot in next period, he may need a coin with fast and low fee transactions and with decent volume so quick market buys/sells won't disturb the price, or they may kiss arbitraging opportunities goodbye. LTC fits the description, and this is also a reason someone is going to pay 6% premium on damned Tether. Moving BTC between exchanges for arbitraging has become mission impossible, and everyone agreed here that arbitraging will be the major force which will spill the futures price into BTC price, so people who are preparing for futures volatility action are probably doing it seriously with decent amounts of LTC and Tether on each exchange.

There is no cure for this situation except Lightning network, and I only hope that developers are aware of this and will deliver working version as soon as possible.

Now if only the exchanges started adding more direct LTC/XXXX pairs and Bitpay added Litecoin support we would have the transaction/payments problem solved.

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[infofront]

1. Bitcoin

2. Litecoin (only because of Atomic-Swaps)

3. .....

4. .....

5. .....

Rest is a huge pile of dogshit.

Lightning network will make litecoin obsolete. Rootstock will make ETH obsolete.

The only altcoin with good long term prospects is Monero. It has the two important aspects that bitcoin cannot and/or will not ever have: anonymity and fungibility.

[Torque]

Isnt litecoin "digital silver", whereas bitcoin is the "digital gold"?

So, it MUST have 1/12 value of bitcoin, because this was the historical value of silver in relation to gold. Silver was used in daily transactions, gold was for store of value.

If bitcoin is 17k now, then litecoin should be around 1.5k. Long way to go.

According to whom? Think deeply on that fallacy.

[flynn]

It's obvious what is happening, but us HODLers are historically reluctant to accept the facts we don't like. Last week I've sent 0.1 BTC to a friend, had to send 0.101 (0.001 fee) to have a chance that transaction will go through in reasonable time. 0.001 BTC = $15, and that was last week, this week situation with mempool is even worse, doubt that transaction will be confirmed without 0.002 fee. If anyone is going to send crypto between exchanges a lot in next period, he may need a coin with fast and low fee transactions and with decent volume so quick market buys/sells won't disturb the price, or they may kiss arbitraging opportunities goodbye. LTC fits the description, and this is also a reason someone is going to pay 6% premium on damned Tether. Moving BTC between exchanges for arbitraging has become mission impossible, and everyone agreed here that arbitraging will be the major force which will spill the futures price into BTC price, so people who are preparing for futures volatility action are probably doing it seriously with decent amounts of LTC and Tether on each exchange.

There is no cure for this situation except Lightning network, and I only hope that developers are aware of this and will deliver working version as soon as possible.

That's too much pain, you need to learn about transaction acceleration =>
https://pool.viabtc.com/tools/txaccelerator/

[gentlemand]

Isnt litecoin "digital silver", whereas bitcoin is the "digital gold"?

So, it MUST have 1/12 value of bitcoin, because this was the historical value of silver in relation to gold. Silver was used in daily transactions, gold was for store of value.

If bitcoin is 17k now, then litecoin should be around 1.5k. Long way to go.

That's one of the stupidest things I've ever heard but it certainly does have staying power. I guess we'd all better do our part and spend our savings on making sure we get to that ratio and keep it there.

I fully support adding arbitrary figures to markets that have zero relation or correlation.

You go first.

[Torque]

Isnt litecoin "digital silver", whereas bitcoin is the "digital gold"?

So, it MUST have 1/12 value of bitcoin, because this was the historical value of silver in relation to gold. Silver was used in daily transactions, gold was for store of value.

If bitcoin is 17k now, then litecoin should be around 1.5k. Long way to go.

That's one of the stupidest things I've ever heard but it certainly does have staying power. I guess we'd all better do our part and spend our savings on making sure we get to that ratio and keep it there.

I fully support adding arbitrary figures to markets that have zero relation or correlation.

You go first.

Gentlemand, didn't you hear? Ethereum is the new "digital gold". But it needs a "digital silver" compliment to go with it. Just copy the ETH source code, change a few params, make it 4 times more abundant than ETH, etc. If you are smart you should be able to knock that out in a weekend.

Can you go make that real quick and start marketing it as such?  And I think if you just say it enough times, people will start to believe it.  

[gentlemand]

Can you go make that real quick and start marketing it as such? If you are smart you should be able to knock that out in a weekend. And I think if you just say it enough times, people will start to believe it.  

I've just got a wifi extender so I can knock that out next time I have a shit. I'll keep you informed.

[Gab0]

It's obvious what is happening, but us HODLers are historically reluctant to accept the facts we don't like. Last week I've sent 0.1 BTC to a friend, had to send 0.101 (0.001 fee) to have a chance that transaction will go through in reasonable time. 0.001 BTC = $15, and that was last week, this week situation with mempool is even worse, doubt that transaction will be confirmed without 0.002 fee. If anyone is going to send crypto between exchanges a lot in next period, he may need a coin with fast and low fee transactions and with decent volume so quick market buys/sells won't disturb the price, or they may kiss arbitraging opportunities goodbye. LTC fits the description, and this is also a reason someone is going to pay 6% premium on damned Tether. Moving BTC between exchanges for arbitraging has become mission impossible, and everyone agreed here that arbitraging will be the major force which will spill the futures price into BTC price, so people who are preparing for futures volatility action are probably doing it seriously with decent amounts of LTC and Tether on each exchange.

There is no cure for this situation except Lightning network, and I only hope that developers are aware of this and will deliver working version as soon as possible.

That's too much pain, you need to learn about transaction acceleration =>
https://pool.viabtc.com/tools/txaccelerator/

The 100 tx per hour is filled in the first 30 seconds.

[BitcoinNewsMagazine]

It's obvious what is happening, but us HODLers are historically reluctant to accept the facts we don't like. Last week I've sent 0.1 BTC to a friend, had to send 0.101 (0.001 fee) to have a chance that transaction will go through in reasonable time. 0.001 BTC = $15, and that was last week, this week situation with mempool is even worse, doubt that transaction will be confirmed without 0.002 fee. If anyone is going to send crypto between exchanges a lot in next period, he may need a coin with fast and low fee transactions and with decent volume so quick market buys/sells won't disturb the price, or they may kiss arbitraging opportunities goodbye. LTC fits the description, and this is also a reason someone is going to pay 6% premium on damned Tether. Moving BTC between exchanges for arbitraging has become mission impossible, and everyone agreed here that arbitraging will be the major force which will spill the futures price into BTC price, so people who are preparing for futures volatility action are probably doing it seriously with decent amounts of LTC and Tether on each exchange.

There is no cure for this situation except Lightning network, and I only hope that developers are aware of this and will deliver working version as soon as possible.

That's too much pain, you need to learn about transaction acceleration =>
https://pool.viabtc.com/tools/txaccelerator/

Sorry to be a downer but the free viabtc txacclerator is basically useless because they only permit a few free accelerations per hour. If you open an account at pool.viabtc.com and spend some bitcoin for S9 cloud hash you will be given a quantity of accelerations you may use. At least that was the way it worked last year.

[JimboToronto]

Good morning Bitcoinland.

We've come back up after yesterday's ATH and correction and seem to be consolidating just a tiny bit higher than this time yesterday... currently $17048USD/$21951CAD (Bitcoinaverage).

AsicboostCash and B-Gold are both up, so old coins are worth $18870USD/$24288CAD each (Coinmarketcap).

Maybe we'll see another ATH today but we might just sit here for a while.

Go Bitcoin go.

[Spaceman_Spiff_Original]

Wtf litecoin

Fuck retiring off BTC. At this rate, I'm going to be able to retire early just off LTC alone, and sit on my entire BTC stash until 2020 !

I LOVE THIS FUCKING CRYPTO SHIT !!!

I had a big 10x leverage long ltc futures which I opened around $85 I think.  I put in additional orders to capture a 10% dip as to avoid liquidation.  Then I bought some more.  I realized I needed to raise the price of my safety orders so I cancelled the previous one, then got distracted by sudden btc price action.  Then my train arrived and I needed to head off to work and just plain forgot to put them back.  Needless to say the dip occurred, I got liquidated, and if I had put in my safety orders I would not have been liquidated and would have been sitting extremely pretty.

[Meuh6879]

Source : http://www.zerohedge.com/news/2017-12-12/its-official-bitcoin-surpasses-tulip-mania-now-biggest-bubble-world-history

for now we just wanted to experience a moment of true zen serenity, knowing that we now stand in proximity to an asset bubble the magnitude of which has never before been observed by humanity.

Thanks central banks!

[flynn]

That's too much pain, you need to learn about transaction acceleration =>
https://pool.viabtc.com/tools/txaccelerator/

The 100 tx per hour is filled in the first 30 seconds.

So If I am stuck with a slow transaction, every hour I have 30 seconds to push it through this, so I get it confirmed after a few more hours ?

Ok, good enough for me.

[flynn]

Source : http://www.zerohedge.com/news/2017-12-12/its-official-bitcoin-surpasses-tulip-mania-now-biggest-bubble-world-history

for now we just wanted to experience a moment of true zen serenity, knowing that we now stand in proximity to an asset bubble the magnitude of which has never before been observed by humanity.

Thanks central banks!

 (img snipped)

To me BTC is more like this :

[gentlemand]

Just over 9 billion dollars away from reaching a half trillion total market cap for everything. Most of that is of course horrifically gamed and meaningless, but still I didn't wake up this January expecting that.

[Torque]

Source : http://www.zerohedge.com/news/2017-12-12/its-official-bitcoin-surpasses-tulip-mania-now-biggest-bubble-world-history

for now we just wanted to experience a moment of true zen serenity, knowing that we now stand in proximity to an asset bubble the magnitude of which has never before been observed by humanity.

Thanks central banks!

Funny that they don't mention:

China stock bubble of 2015

3D Printing stock bubble of 2013 (just pull up chart of SSYS or DDD, zoom out to max.... holy shit)

Kroger stock bubble of 2015 (zoom out chart)

Tesla stock bubble that started in 2013

Netflix stock bubble that started in 2012

Gold and Silver bubbles of 2011

...or really any of the other hundreds of typical bull/bear runs seen pretty much yearly around the world.. I guess Bitcoin is just so unique.

[Toxic2040]

Source : http://www.zerohedge.com/news/2017-12-12/its-official-bitcoin-surpasses-tulip-mania-now-biggest-bubble-world-history

for now we just wanted to experience a moment of true zen serenity, knowing that we now stand in proximity to an asset bubble the magnitude of which has never before been observed by humanity.

Thanks central banks!

-snip-

For some reason I cant find my zen atm...you havent seen it lying about have you? Its all still so surreal.   +26488.26% for me

[Phil_S]

It's time for another rally... I feel it...

[Gab0]

That's too much pain, you need to learn about transaction acceleration =>
https://pool.viabtc.com/tools/txaccelerator/

The 100 tx per hour is filled in the first 30 seconds.

So If I am stuck with a slow transaction, every hour I have 30 seconds to push it through this, so I get it confirmed after a few more hours ?

Ok, good enough for me.

Yes, it's good. It's much better than nothing.

I imagine you have read it, but in that same place Viabtc expresses its position regarding the problem of scale, supporting larger blocks, and even advertising BCH.
So, for many users in this forum, using their free service can mean supine inconsistency.

What should we do to solve jam problem?

Essentially, the key to solving jam problem is to increase or even remove block size limit but Bitcoin Core developers keep refusing to do so to allow more people to use Bitcoin, regardless of the Bitcoin white paper and signed consensus.

In this case, a group of big block supporters initiated the first hard fork of Bitcoin increased the block size to 8MB, with a forked digital asset born - Bitcoin Cash (BCH).

BCH does all what Bitcoin can and does it better in a more flexible way. What’s more, much lower fees and faster confirmations makes it more user-friendly, following the core principles of “Bitcoin”.

[JimboToronto]

Oh look another ATH at Stamp.