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

[Torque]

Why all filthy rich guys are selling hundreds and thousands of BTC at that price? What are they thinking - the end of the world? Or early retirement? What if by the end of the year BTC hits 50K or even 100K $ and they realize how richer they could have been if only waited for several more months? But no, why have 100 mln in several months, while I can have 2-3 mln and retire now. Pathetic  

Moving old coins to segwit wallets?
Simplistic guess, but I'm not Torque. Ask him!  

If he was talking about the run-up and then dump from $19k, that was just a bunch of retard whale traders using a last gasp PnD to cover their taking a rather large position in Bitcoin, before the Futures market got started.

It was a win-win-win-win for them:

1. They could cover their taking up a large position whilst whipping up the momentum trade on hype
2. The sheeple and guppie traders would buy into the rally at exactly the wrong time
3. They could then short at the top, with a lot of coins on exchanges to leverage for the short, and pretty much double their position
4. The dump scared away all the Average Joes that were thinking about getting in for at least another year

Now they pretend that the bull run is over, and let the market wash trade sideways in a narrow band. Hoping that the get-rich-quick n00bs will get frustrated with no upwards price action and sell, right into their buy walls.

But they ain't really foolin' anyone with that shit... Wall street desperately wants your bitcoin.

[1634378686]

1634378686

[ivomm]

This asshole selling thousands BTC at bitfinex with multiple 200 BTC walls is the culprit of today's drop. And why he is selling so much in such a noobish way, I can't imagine.  Probably too lazy to place multiple 20 BTC sell offers instead of several 200 BTC. Well, if he is happy to lose milions because of his stupidity, so be it.

[realr0ach]

https://i.imgur.com/igGLv5j.png

Tera, stop pretending to be retarded.  The traits of money are:  durability, fungibility, portability, scarcity, divisibility.  Then you have price stability, but that's more tertiary.

Contrary to the idiotic chart they post on reddit:

Fungibility: bitcoin is obviously not fungible, not even if you mix outputs to obfuscate transaction history, but bitcoin doesn't even do that.  It would also not be fungible because the protocol is malleable and PoW doesn't force convergence in rough consensus "attacks", aka forks or 'different opinions'.  Bitcoin also functions as somewhat of a 3 of 5 multisig permissioned ledger in practice with built-in middlemen.  It's not really possible for a permissioned ledger with built-in gatekeepers to be fungible.  That's called a 1984 slavery system where you're forced to worship the five centralized transaction validators or they refuse to process your non-blinded transactions.

Durability:  They claim durability of bitcoin is equal to the noble metals, which is a complete joke.  Metals are the equivalent of a billions of years old blockchain with self pruning, while bitcoin is a few years old and can be black swaned to death at any second.  Durability of bitcoin is several orders of magnitude lower.  It's just some guy's artificial scheme he created.  It requires a black hole hitting the earth to black swan metals while artificial schemes are not known to have much staying power.  

Scarcity:  As mentioned earlier, since PoW does nothing to solve rough consensus attacks, aka forks, there is no real scarcity.  Since these broadcast systems (blockchains) are inherently very low scaling and high overhead, it also has an inverse Schelling point where people are incentivized to use a different chain than others to avoid usurious fees.  Repeat ad infinitum until the entire ecosystem dies of dilution.

Price Stability:  When someone dies holding noble metals like silver or gold, they are recovered nearly every time eventually.  The money then stays recirculating around.  Bitcoin is radically different in this regard.  Due to strong encryption, accidents, and other variables, bitcoin will be lost an overwhelmingly higher percentage of the time resulting in the currency being more hyper-deflationary than deflationary.  Having a hyperdeflationary token is as useless for vendors trying to price items as a hyperinflationary one.  Vendors would choose the most stable unit of measure to price things in, and bitcoin wouldn't be it.  Bitcoin wouldn't be used in commerce and would just forever be some type of pump and dump scheme.

[Elwar]

The irony is that people running Lightning Network on mainnet are enjoying putting bcash folks in their place. Even though bcash tested their transaction solution on mainnet.

[Karartma1]

This asshole selling thousands BTC at bitfinex with multiple 200 BTC walls is the culprit of today's drop. And why he is selling so much in such a noobish way, I can't imagine.  Probably too lazy to place multiple 20 BTC sell offers instead of several 200 BTC. Well, if he is happy to lose milions because of his stupidity, so be it.

Who are we to judge? Let him lose his money.

Let these futures die for good and let's see what to expect for the future (!). I still have to figure out what is going to be the price on Dec. 31st 2018. This way I'll never get it!
In the meanwhile I'll open a LN channel. Might help to do the trick

[pacman7331]

This asshole selling thousands BTC at bitfinex with multiple 200 BTC walls is the culprit of today's drop. And why he is selling so much in such a noobish way, I can't imagine.  Probably too lazy to place multiple 20 BTC sell offers instead of several 200 BTC. Well, if he is happy to lose milions because of his stupidity, so be it.

I guess i'm noob too. I have no idea why you would not just put a limit order in at whatever price and sell all if thats what you want.  =/

[realr0ach]

I'm trying to figure out the exact moment bitcoin jumped the shark.  It's either Tai Lopez or the tweet by John McAfee telling people to buy some coin named FINA that is run by a "Nigerian criminal organization".  Instead of Nigerian princes coming to you to scam for money, you are now seeking out Nigerian princes to donate money to instead.

[UnDerDoG81]

So, South Korea FUD has been approved that it is FUD. Bitcoin price is still down. I think at the moment there is no reason for the price to go up. Probably seeing four digits again.

[infofront]

I'm trying to figure out the exact moment bitcoin jumped the shark.  It's either Tai Lopez or the tweet by John McAfee telling people to buy some coin named FINA that is run by a "Nigerian criminal organization".  Instead of Nigerian princes coming to you to scam for money, you are now seeking out Nigerian princes to donate money to instead.

I think you need a hug.

[Torque]

I'm trying to figure out the exact moment bitcoin jumped the shark.  It's either Tai Lopez or the tweet by John McAfee telling people to buy some coin named FINA that is run by a "Nigerian criminal organization".  Instead of Nigerian princes coming to you to scam for money, you are now seeking out Nigerian princes to donate money to instead.

Bitcoin never jumped the shark. It stands alone surrounded by a cesspool of garbage. The rest of the ponzi scamming shitcoin crypto market did though.

I cite Bitconnect and DeezNuts as prime examples.

[LFC_Bitcoin]

This asshole selling thousands BTC at bitfinex with multiple 200 BTC walls is the culprit of today's drop. And why he is selling so much in such a noobish way, I can't imagine.  Probably too lazy to place multiple 20 BTC sell offers instead of several 200 BTC. Well, if he is happy to lose milions because of his stupidity, so be it.

Yeah I don’t get it either, seems fucking stupid to risk ‘sell high’ , ‘buy in low’. The market can move upwards & then you’re fucked.

Why people don’t just HODL until after the next halving I do not know. I’m expecting to see upwards of $50,000 per coin in 2020. Why are people in such a panic to sell?

[serveria.com]

This asshole selling thousands BTC at bitfinex with multiple 200 BTC walls is the culprit of today's drop. And why he is selling so much in such a noobish way, I can't imagine.  Probably too lazy to place multiple 20 BTC sell offers instead of several 200 BTC. Well, if he is happy to lose milions because of his stupidity, so be it.

Yeah I don’t get it either, seems fucking stupid to risk ‘sell high’ , ‘buy in low’. The market can move upwards & then you’re fucked.

Why people don’t just HODL until after the next halving I do not know. I’m expecting to see upwards of $50,000 per coin in 2020. Why are people in such a panic to sell?

Not people in general but rather get rich quick kiddies 

[Paashaas]

Coincheck officially confirmed that 500mln XEM was stolen by someone 

[realr0ach]

I think you need a hug.

No time for hugging.  FISA memo is going to be released; tons of govt and media goons will be going to Gitmo.  Obama himself will even be indicted.  The marxists who had full control of the system pre-Trump will try to rally their useful idiots to riot (black people that live in the ghetto).  There will be a level 5 chimpout, but they will mostly burn down their own neighborhoods as usual and have no real effect.  Stocks will crash.  Metals are going to skyrocket, and the Soros Marxist Jew team will likely try to set off a million different false flags during said events.

[fluidjax]

Looks like CME drop was a damp squib, and people are gonna panic to buy back in.

This guy reckons its unlikely, but there could be a last minute sell.
https://www.reddit.com/r/Bitcoin/comments/7syd2c/expiring_futures_tomorrow_not_so_fast/

[Ludwig Von]

Looks like CME drop was a damp squib, and people are gonna panic to buy back in.

This guy reckons its unlikely, but there could be a last minute sell.
https://www.reddit.com/r/Bitcoin/comments/7syd2c/expiring_futures_tomorrow_not_so_fast/

At what time (CET) they expire exactly again? I am pretty sure some of the actions in the past 24 Hours are related.

[fluidjax]

Looks like CME drop was a damp squib, and people are gonna panic to buy back in.

This guy reckons its unlikely, but there could be a last minute sell.
https://www.reddit.com/r/Bitcoin/comments/7syd2c/expiring_futures_tomorrow_not_so_fast/

At what time (CET) they expire exactly again? I am pretty sure some of the actions in the past 24 Hours are related.

4pm London time, so about 9 minutes to go.

[d_eddie]

Looks like CME drop was a damp squib, and people are gonna panic to buy back in.

This guy reckons its unlikely, but there could be a last minute sell.
https://www.reddit.com/r/Bitcoin/comments/7syd2c/expiring_futures_tomorrow_not_so_fast/

At what time (CET) they expire exactly again? I am pretty sure some of the actions in the past 24 Hours are related.

4 PM Greenwich Time - I think it's CET-1, but do check.

[Last of the V8s]

Someone released the hypnodrones?

[Torque]

This looks ridiculously orderly to me.