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

[jojo69]

OT PSA

Intel doubles down on IME

https://www.theregister.co.uk/2017/12/13/intel_management_engine_gets_hardwarebased_lock/

stay safe out there kids

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[JayJuanGee]

Ok, so, my brain is still booting up here for the day, but walk me through game-theory on this one.

There's a huge wall of 1000 BTC @ $17,250 on GDAX.

What would the effect be of me placing a sell wall of 1000 @ $20,000 ? I'm guessing zero effect ?

Would I be better off gaming 1000 @ $17,500 ? Would placing/pulling 1000 walls @ $17,000 cause jitters ?

Wondering how I can have some fun with this wall on GDAX. I'm a little bit bored this morning.

I should really go get a coffee into my system...

One thing is actually having 1,000 coins but another thing is having them on exchanges, especially since the hardware wallets have become much more common and easy to use.

You should only have as many coins on the exchanges as you intend to trade, which should not be 1000, unless perhaps you have another 1000 off line..

I am not personally opposed with attempting to make money with large amounts of coins, but I do tend to think that if you are playing big like that, then you do need to have some hedging going on, too.. something other than the 1000 coins.  I am not sure about what that is, but seems dangerous to just play one side of it.

How is it that we can have all this, deeply embarrassing, charlatanism going on...and Bitcoin just keeps chillin' over $16K?

I think I'm actually bored with Bitcorn since the futures launch. With all this stability, I might actually get some work done today...

It should not be referred to as stability.. perhaps .... "coiling"?

[realr0ach]

Question of the day. Is Jstolfi paid by Ver, ?

Anyone that has any experience with Brazilians knows they're complete weirdos and have several traits such as if an American says something and it's verfiably true, they will disagree solely because they're American and believe some type of fabricated Latin American perspective is a more righteous one.  So no, it's not required for Jstolfi to be a paid shill to act like a stereotypical Brazilian.  He probably saw fat westerners making money on bitcoin and got upset. The only mystery of Jstolfi is that he's supposed to be some type of "world renowned computer scientist", yet the reasons he gives for why bitcoin is dysfunctional or a bad system are usually completely nonsensical compared to the real ones people like me bring up.  

Stolfi was something of a communist from what I recall and I think he wanted people to use govt fiat or something too, while people like me have the position that bitcoin is inferior to metals as money and a store of value (bitcoin is a currency by definition and not money like metals are), so there's no real justification for bitcoin's existence besides a weak attempt at regulatory arbitrage, which the govt can and will easily clamp down on anyway.  It's too easy and cheap for them to create a police state to control the digital world compared to the physical one.  Using anything digital is going right into the govt and banking monopoly's hands.

[flynn]

and now something completely different :
$ / oil / Yuan => https://www.bloomberg.com/news/articles/2017-12-06/petro-yuan-delays-show-hurdles-confronting-china-s-currency-push

[flynn]

OT PSA

Intel doubles down on IME

https://www.theregister.co.uk/2017/12/13/intel_management_engine_gets_hardwarebased_lock/

stay safe out there kids

BTW, AMD has the same kind of shit in its processors since 2015 or something.

We'll need open source processors from now on ...

[The_Real_Punisher]

Sideways for days - means we will go south soon... Watching this pattern for years now. Only one guy needs to start a dump and well be at 4 digits....

[Torque]

Sideways for days - means we will go south soon... Watching this pattern for years now. Only one guy needs to start a dump and well be at 4 digits....

You start. Open a really large short position while you are at it. You can't lose, right?

[realr0ach]

Sideways for days - means we will go south soon... Watching this pattern for years now. Only one guy needs to start a dump and well be at 4 digits....

Nah, it's the standard fraud market.  If someone shorts with any type of volume, they will be squeezed and it goes up.  If nobody shorts, it crashes miserably.  In fact, your post is 99.9% likely some Chinese idiot trying to get people to short.  Rule #1 of fraud markets, you are a loser no matter if you go long or short.  The only way to beat fraud markets is not play.  Donating any type of liquidity to fraud markets just helps the scammers behind it.  

This is how they made the price of Ethereum go up.  If anyone shorts, they just take their premine they created out of thin air to Poloniex and leverage it to squeeze them.  I remember some guy whose username started with a C who lost 1000 btc trying to short Eth lol.  There's plenty of people in bitcoin who have coins that are essentially completely free that can do the same thing.

[jojo69]

OT PSA

Intel doubles down on IME

https://www.theregister.co.uk/2017/12/13/intel_management_engine_gets_hardwarebased_lock/

stay safe out there kids

BTW, AMD has the same kind of shit in its processors since 2015 or something.

We'll need open source processors from now on ...

The obvious end game is to deny us general purpose computing devices altogether...because "terrorists" and "kiddie porn".  They will attempt to herd us into locked down walled gardens with "convenience".

The future of humanity is very much in play.

[STT]

Why this constant 1k spread beetween gdax and finex/stamp?

The bitcoin network has too high a transaction fee for simple transfers, it will show iliquidity till resolved.   As normal bank accounts become easier the bitcoin became harder, its a problem which will be addressed soon or will cause a negative feedback scenario I presume.

The price has boundaries of $15,713 and $13,073 I think with direction and strength decided when passing those lines I think.   Not especially weak price action otherwise

they get lighting apps up and tools...that could change quickly> (on the other hand bitcoin core rarely changes quick)

just saying...their supposed game plan

I do think protocol development needs to keep moving to stay on top.   As soon as we just end up watching price and assuming this means success its a failure really.   Alot of the price is counting in future expectations of integrity, reliability and regular development in an actual economy.   If all the blockchain transactions are clogged up with speculators in majority and real business is impeded then its like a facade with a rotten frame behind, it will switch from one extreme to the other and that collapse will destroy confidence, etc   Horrible because it doesnt have to be that way, that appears to be the trajectory to me that hype kills the real economy that might otherwise develop, overheats, etc

[realr0ach]

Alot of the price is counting in future expectations of integrity, reliability

Then you're shit out of luck because it's not possible to create a decentralized digital currency, only ones that continuously centralize over time until the only real end product of this space will be federated chains run by govts or corporations.

[flynn]

OT PSA

Intel doubles down on IME

https://www.theregister.co.uk/2017/12/13/intel_management_engine_gets_hardwarebased_lock/

stay safe out there kids

BTW, AMD has the same kind of shit in its processors since 2015 or something.

We'll need open source processors from now on ...

The obvious end game is to deny us general purpose computing devices altogether...because "terrorists" and "kiddie porn".  They will attempt to herd us into locked down walled gardens with "convenience".

The future of humanity is very much in play.

Notice these :
- Linux won't save you from that shit. That microcode run on its own processor and has access to all your memory, data and network interfaces
- Raspberry PI's proc has the same kind of shit too, as I heard.

So NSA can get into any machine made after 2015

We'll need to firewall these things hard, use Suricata to discover intrusion attempts, and switch to open source hardware, when such a thing will exist.
No doubt the open source community will react strongly on this one.

[HairyMaclairy]

142k Unconfirmed transactions and 380 sats/byte recommended fee.
Nothing to see here, Bitcoin is working well.

In r / bitcoin the problem is being discussed. It is becoming harder and harder to ignore the situation and pretend that nothing happens here.
https://www.reddit.com/r/Bitcoin/comments/7jqs9m/how_much_longer_are_we_going_to_pretend_we_dont/

My first bitcoin I bought around 15 dollars, today I could not start with an investment like that. And there are perhaps hundreds, or thousands of people who are preferring other currencies for that very reason.

Gab0:  we agreed less than three days ago that you weren’t going to come here and pretend to be concerned about block size.  How about you fuck off and take your concerns back to r/BTC

[Rosewater Foundation]

142k Unconfirmed transactions and 380 sats/byte recommended fee.
Nothing to see here, Bitcoin is working well.

In r / bitcoin the problem is being discussed. It is becoming harder and harder to ignore the situation and pretend that nothing happens here.
https://www.reddit.com/r/Bitcoin/comments/7jqs9m/how_much_longer_are_we_going_to_pretend_we_dont/

My first bitcoin I bought around 15 dollars, today I could not start with an investment like that. And there are perhaps hundreds, or thousands of people who are preferring other currencies for that very reason.

Gab0:  we agreed less than three days ago that you weren’t going to come here and pretend to be concerned about block size.  How about you fuck off and take your concerns back to r/BTC

Anyone convinced enough to be holding significant amounts of bcash is beyond reasoning with. The cognitive dissonance is too strong.

[Gab0]

142k Unconfirmed transactions and 380 sats/byte recommended fee.
Nothing to see here, Bitcoin is working well.

In r / bitcoin the problem is being discussed. It is becoming harder and harder to ignore the situation and pretend that nothing happens here.
https://www.reddit.com/r/Bitcoin/comments/7jqs9m/how_much_longer_are_we_going_to_pretend_we_dont/

My first bitcoin I bought around 15 dollars, today I could not start with an investment like that. And there are perhaps hundreds, or thousands of people who are preferring other currencies for that very reason.

Gab0:  we agreed less than three days ago that you weren’t going to come here and pretend to be concerned about block size.  How about you fuck off and take your concerns back to r/BTC

You and I have not agreed anything. I am aware that this is not the place to discuss the technical relevance of an increase in the size of blocks, but I am not talking about that.
I'm talking about a problem that can eventually affect the price, as STT points out above, and many other users.
Without going any further, CME Group has published a study, which among other things, relate the price and high fees (which on the other hand I do not know how true it is).
http://www.cmegroup.com/education/featured-reports/bitcoin-will-stunning-rally-sustain-or-sour-in-2018.html

As a separate issue, do you think I should leave here simply because we do not agree?

Edit: If you prefer not to face opinions that may cause annoyance because they are different from yours, I kindly ask you to ignore me

[HairyMaclairy]

Yes kindly fuck off.  Everyone here has been through all the issues you are raising a hundred times. This isn’t a transaction cost observer thread. Please feel free to start your own.  

[jojo69]

I've been warning people about Kraken on here for months.

Thieves...avoid.

[Ibian]

How is it that we can have all this, deeply embarrassing, charlatanism going on...and Bitcoin just keeps chillin' over $16K?

It's proof that bitcoin is serious business now. Like the hardest possible proof.

[xhomerx10]

I've been warning people about Kraken on here for months.

Thieves...avoid.

 I was assimilated when they took over CAVirtex.

[Syke]

BTW, AMD has the same kind of shit in its processors since 2015 or something.

We'll need open source processors from now on ...

RISC-V seems to be coming along nicely. https://hardware.slashdot.org/story/17/10/09/0019212/linux-now-has-its-first-open-source-risc-v-processor