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

[fluidjax]

Jeez... look at this shit
22 upcoming forks.

http://pieifo.com/pages/endefault.html

I need to safely stream-line my split & dump process.

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[flynn]

Jeez... look at this shit
22 upcoming forks.

http://pieifo.com/pages/endefault.html

I need to safely stream-line my split & dump process.

It's turning out to be a full-time job to take care of these

[jbreher]

Haha. The world works in funny ways.

I'm sitting in the lounge at SJC - I was working in Silicon Valley so far this week. AAR, when I checked into my hotel the other night, I noticed a newspaper I'd not seen before available amongst the piles of drek such as USA Today. Epoch Times. Intrigued, I grabbed a copy.

This morning, I finally started reading it. There was a great article on the ramifications of Bitcoin that took an entire page in the paper. Once I read it, I thought I oughta share it here. There is an abbreviated version available on the web: https://www.theepochtimes.com/is-bitcoin-just-a-brilliant-wealth-redistribution-scheme-3_2377636.html
authored by Valentin Schmid.

Now in the lounge, martini in hand, waiting for time to board, I am catching up on deferred communications. Running through my browser tabs, I run across this item linked the other day by someone here on BCT: https://www.youtube.com/watch?v=ukjDCeuNK3Y

Who is the interviewer but the samesaid Valentin? Whatta universe.

I watched the 30 minute youtube interview, and it is good.

Surely the substantive points of Saifedean Ammous regarding bitcoin governance and various hardfork attacks applies to bitcoin and not the stupid ass bcash that you have been trying to proposition as if bcash were the "real bitcoin" rather than an attack on bitcoin.. and Ammous  seems to make that point fairly clearly at various points throughout the interview.

Mostly. I was with him up until the point he started crowing about the immutability of the main chain. If the main chain was immutable, then it would not implement segwit, which is of course the greatest single change to the bitcoin protocol since its inception. And sadly, interviewer does nothing to question that point either. There must be an explanation that squares with his claim of what the masses will value. I found it somewhat disingenuous that the topic was not even touched upon.

Other than that yes - good interview of a good interviewee.

[JayJuanGee]

Haha. The world works in funny ways.

I'm sitting in the lounge at SJC - I was working in Silicon Valley so far this week. AAR, when I checked into my hotel the other night, I noticed a newspaper I'd not seen before available amongst the piles of drek such as USA Today. Epoch Times. Intrigued, I grabbed a copy.

This morning, I finally started reading it. There was a great article on the ramifications of Bitcoin that took an entire page in the paper. Once I read it, I thought I oughta share it here. There is an abbreviated version available on the web: https://www.theepochtimes.com/is-bitcoin-just-a-brilliant-wealth-redistribution-scheme-3_2377636.html
authored by Valentin Schmid.

Now in the lounge, martini in hand, waiting for time to board, I am catching up on deferred communications. Running through my browser tabs, I run across this item linked the other day by someone here on BCT: https://www.youtube.com/watch?v=ukjDCeuNK3Y

Who is the interviewer but the samesaid Valentin? Whatta universe.

I watched the 30 minute youtube interview, and it is good.

Surely the substantive points of Saifedean Ammous regarding bitcoin governance and various hardfork attacks applies to bitcoin and not the stupid ass bcash that you have been trying to proposition as if bcash were the "real bitcoin" rather than an attack on bitcoin.. and Ammous  seems to make that point fairly clearly at various points throughout the interview.

Mostly. I was with him up until the point he started crowing about the immutability of the main chain. If the main chain was immutable, then it would not implement segwit, which is of course the greatest single change to the bitcoin protocol since its inception. And sadly, interviewer does nothing to question that point either. There must be an explanation that squares with his claim of what the masses will value. I found it somewhat disingenuous that the topic was not even touched upon.

Other than that yes - good interview of a good interviewee.

Yeah, but consensus.

Segwit went through consensus.  It was proposed in about December 2015, then tested in mid 2016, and then went active for signaling in November 2016. 

Sure there were several months of low levels of consensus, but after the NYA of your boys and then the BIP91 that was a compromise proposal, almost everyone jumped on board BIP91 terms to provide nearly unanimous consensus to lock in segwit in early August 2017 and leading to its activation and implemtnation in late August 2017...

So why the fuck cry over that spilled milk...

You are trying to act as if segwit was not activated through nearly unanimous consensus, including your boys?

[bitserve]

Jeez... look at this shit
22 upcoming forks.

http://pieifo.com/pages/endefault.html

I need to safely stream-line my split & dump process.

It's turning out to be a full-time job to take care of these

MOther of god! Are all those for real?

More offerings to the Bitcoin Gods!!

Ok, I think I am changing my approach entirely. Moving all the coins all the time to (safely) catch those forks while the rest are already dumping doesn't seem like that good an idea.

I think I will schedule a plan like doing it every three months or so. That will give me enough time to decide which ones to keep and which ones to inmediatelly sell after watching their behaviour on the markets. Maybe I should try to stick to a predefined threshold like converting 50% to BTC and keeping another 50% of the total combined value.

In the end this may be good for Bitcoin because as soon as we all probably just want to keep increasing our BTC stack the price of BTC can only keep rising as a side effect.

Also no need to look for shitcoins to "diversify"... the shitcoins are coming to us... FOR FREE!

[podyx]

Jeez... look at this shit
22 upcoming forks.

http://pieifo.com/pages/endefault.html

I need to safely stream-line my split & dump process.

It's turning out to be a full-time job to take care of these

Is there any fork that is valuable besides BCH and BTG though? (say more than 0.5% of bitcoins value)

[HairyMaclairy]

BTG is 0.018

Superbitcoin currently 0.019

Edit:  I can’t zero.

[orpington]

BTG is 0.018

Superbitcoin currently 0.019

Edit:  I can’t zero.

SuperSmartBitcoin

[Searing]

sigh....it seemed almost like yesterday...not a whole 11 months ago (gasp...the history) that this seemed unlikely as hell!




http://bitcoinromania.ro/wp-content/uploads/2017/05/l4FGCYu1xKXZAoBwc.gif


The thing to do grasshopper...is 1) Do meme #1 above

and then                                2) watch #2 above

                                            3) grin!

[Logic-Elliven]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

[mymenace]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

none, risk wise

the risk is difficult to undertake

now depending on the size and your take on LARGE.....most large exchanges could do it and or if not arrange it for a fee, again risk

[bitserve]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

It would help if you would define aproximately what is a LARGE amount of BTC. 50? 100? 500? 1000? 10000?

Also, I supposse you do have a USD denominated account in the UK, don't you?

[criptix]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

It would help if you would define aproximately what is a LARGE amount of BTC. 50? 100? 500? 1000? 10000?

When i started 10.000 btc was big. Nowadays 1000 is big

[bitserve]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

It would help if you would define aproximately what is a LARGE amount of BTC. 50? 100? 500? 1000? 10000?

When i started 10.000 btc was big. Nowadays 1000 is big

I don't expect noone with 10.000+ asking that question here....

50 BTC if you want to do it in one a single blow starts to become a bit troublesome as we can learn from Bob's current experience. Of course I would advice against doing it all at once (any quantity) but better yet in smaller batches diversified among several exchanges. Wouldn't be funny to have all your stash amount locked somewhere because of triggering some alerts or whatever bullshit/policy.

Also for 100+ batches it is probably better to resort to OTC brokers. I have heard buyers even pay a premium over spot exchange price.

[mymenace]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

none, risk wise

the risk is difficult to undertake

now depending on the size and your take on LARGE.....most large exchanges could do it and or if not arrange it for a fee, again risk

try escrow users on this board or

currency exchange boards and post here
https://bitcointalk.org/index.php?board=53.0

[fabiorem]

I was on the bus tuesday, going to a doctor, when I thought on Jeff Garzik and the S2X FUD in November.

I asked myself, what had happened to that guy.

Now I come here and read he is behind a new fork, and right that one where Satoshi is quoted as having said that we have to trust central banks.

The world keeps turning.

[kurious]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

I would have said Bitstamp.  BUT:

1. They can ask you to prove where the BTC came from at the point you try to withdraw cash.  I managed to satisfy them, but it took time and if they had not been satisfied I suspect they might have refused.  Scary while it was held in suspense, which it was.

2. They are now getting very slow for withdrawals - over a week now to even confirm (USD) withdrawal - let alone see it in your bank.  I don't know about SEPA, as I no longer use this method (see 3 below).

3. When you sell for USD and they withdraw USD for you, they change it into Euros via a Slovenian bank, then send it as Euros (via SEPA) to your UK bank (as Euros), who will then convert to GBP.  This friction is expensive.  In the end I found the best thing to do is set up a UK USD account and use 'International wire transfer' to transfer USD.  You can then use a Forex broker to give you a good rate for USD to GBP.

Not very helpful, but I think very few exchanges are easy right now for UK BTC - cash.  generally I trust Bitstamp - but the slowness is now concerning.

[bitserve]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

I would have said Bitstamp.  BUT:

1. They can ask you to prove where the BTC came from at the point you try to withdraw cash.  I managed to satisfy them, but it took time and if they had not been satisfied I suspect they might have refused.  Scary while it was held in suspense, which it was.

2. They are now getting very slow for withdrawals - over a week now to even confirm (USD) withdrawal - let alone see it in your bank.  I don't know about SEPA, as I no longer use this method (see 3 below).

3. When you sell for USD and they withdraw USD for you, they change it into Euros via a Slovenian bank, then send it as Euros (via SEPA) to your UK bank (as Euros), who will then convert to GBP.  This friction is expensive.  In the end I found the best thing to do is set up a UK USD account and use 'International wire transfer' to transfer USD.  You can then use a Forex broker to give you a good rate for USD to GBP.

Not very helpful, but I think very few exchanges are easy right now for UK BTC - Cash.  generally I trust Bitstamp - but the slowness is now concerning.

Hey kurious, can you elaborate more on the subject of proving where the BTC came from?

[kurious]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

I would have said Bitstamp.  BUT:

1. They can ask you to prove where the BTC came from at the point you try to withdraw cash.  I managed to satisfy them, but it took time and if they had not been satisfied I suspect they might have refused.  Scary while it was held in suspense, which it was.

2. They are now getting very slow for withdrawals - over a week now to even confirm (USD) withdrawal - let alone see it in your bank.  I don't know about SEPA, as I no longer use this method (see 3 below).

3. When you sell for USD and they withdraw USD for you, they change it into Euros via a Slovenian bank, then send it as Euros (via SEPA) to your UK bank (as Euros), who will then convert to GBP.  This friction is expensive.  In the end I found the best thing to do is set up a UK USD account and use 'International wire transfer' to transfer USD.  You can then use a Forex broker to give you a good rate for USD to GBP.

Not very helpful, but I think very few exchanges are easy right now for UK BTC - Cash.  generally I trust Bitstamp - but the slowness is now concerning.

Hey kurious, can you elaborate more on the subject of proving where the BTC came from?

They could tell a lot of it was direct from Polo (which I guess is easy enough for them to do).   I sent some evidence of my trading alts there - more than I would like to have done - but my money was locked in while they 'considered my withdrawal'.  I have been registered on Bitstamp since 2012, so I was concerned to be asked, but of course I was suddenly sending BTC in and selling it in fairly large amounts.  I am not sure everyone will be treated this way, but I was.  I am declaring profits for tax purposes and doing my best to stay legit, too. 

They were polite at all times (and I made sure I was, too) and I had a couple of small withdrawals first before I tried a larger one, which was the point at which they started to ask.

[aesma]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie: 
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

I don't understand your question. Initially it seems you're talking about selling BTC, then by the end I get the impression you want to move USD around, using BTC. If the latter, I wouldn't use BTC right now !

If you're talking about selling, well, you sell at the price you're comfortable with, nobody can predict the price 10 minutes from now !

With such a transaction I would be more worried about KYC, anti-laundering regulations, what the bank will say when the large amount of money will arrive, what taxes might have to be paid, etc.