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

[RejectedBanana]

Tether is only 2.3 billion in a market of more than 500 billion.

Think about it for a minute.

Tether is not intended to be speculative. There's supposed to be $2.3B actual fiat backing it.

vs crypto "market cap", which is hugely speculative. It's not an actual valuation, it's simply supply x price.

So yes, the collapse of Tether could have a hugely disproportionate effect on the whole crypto market if it's backed by little to nothing.

[enter`name`here]

Tether might be a scam, quick sell your bitcoin for Tether! /bitfinexTraders

EDIT: I suppose you could transfer the tethers to an exchange that offered USD/USDT trading...  If the market is actually concerned about tether it is on that pair we should see panic selling I would imagine... current USD price on kraken at time of this post: $0.9899

[fabiorem]

Tether is not intended to be speculative. There's supposed to be $2.3B actual fiat backing it.

vs crypto "market cap", which is hugely speculative. It's not an actual valuation, it's simply supply x price.

So yes, the collapse of Tether could have a hugely disproportionate effect on the whole crypto market if it's backed by little to nothing.

Do you think theres enough fiat on the exchanges to cover 500 billion?

Do you think theres enough fiat in the entire world to cover the 1.2 quadrillion derivatives markets?

[AlexGR]

Tether might be a scam, quick sell your bitcoin for Tether! /bitfinexTraders

That's what I was about to comment. I mean if Tether has a problem, the rational thing is to dump tether => buy bitcoins => exit the exchange asap.

Obviously, demand for bitcoins should move btc price up as tether is dumped.

[Karartma1]

As many pointed out the timing couldn't have been better. I'll simply hold my coins. During these days I say to myself that 1 BTC is 1 BTC.
Our time has yet to come.

If Bitfinex and Tether blow up, I just don't care

[Lopumbo]

Tether might be a scam, quick sell your bitcoin for Tether! /bitfinexTraders

That's what I was about to comment. I mean if Tether has a problem, the rational thing is to dump tether => buy bitcoins => exit the exchange asap.

Obviously, demand for bitcoins should move btc price up as tether is dumped.

People are in tether to avoid bitcoin. So a rational gambler would indeed buy bitcoins but would dump them later for cash.

[jojo69]

sunny decree live

https://www.youtube.com/watch?v=IeG0zVgRlv8

[toknormal]

[d_eddie]

My lowest limit buy order triggered and filled. I managed to slip another one just a little lower
BTFD

[Torque]

Hey quick,

Someone wake up JJG so he can tell me again that there are no pre-planned, coordinated attacks on Bitcoin. 

[LFC_Bitcoin]

As many pointed out the timing couldn't have been better. I'll simply hold my coins. During these days I say to myself that 1 BTC is 1 BTC.
Our time has yet to come.

If Bitfinex and Tether blow up, I just don't care

Pretty much my thinking ^^
I’m happy with my ‘HODL’ stash & this doesn’t worry me, it’s just a bit annoying. 1 bitcoin is still 1 bitcoin, I’m planning to HODL until around a year after the next halving any way so about 2021.

This is just a small speed bump on the way to the moon, besides who doesn’t think 1 bitcoin will be worth north of $50,000 at some point?

Good things come to those who wait.

[jojo69]

in other news

4chan tracked down Trevon James. He's in a hotel in Myrtle Beach South Carolina (likely where he lives) and he drives a BMW X6 https://www.youtube.com/watch?v=xFkqSu4Gi3g

this video is for entertainment and educational purposes only...I am not an ass beating professional...

[rezurect007]

sunny decree live

https://www.youtube.com/watch?v=IeG0zVgRlv8

Seems like he's learning as he reads.
Doesn't have clue who Bitfinix'ed is.

Who is he?

[Karartma1]

Hey quick,

Someone wake up JJG so he can tell me again that there are no pre-planned, coordinated attacks on Bitcoin. 

Only the good die young. Or they get murdered
Our young Bitcoin is gaining too much traction in this world bound to old legacy sort of systems.
Torque, you know better than me that this will change.
Hold

[Karartma1]

As many pointed out the timing couldn't have been better. I'll simply hold my coins. During these days I say to myself that 1 BTC is 1 BTC.
Our time has yet to come.
If Bitfinex and Tether blow up, I just don't care

I would merit this post, but I blew my load

Don't worry bro! Now you have some more.

[Torque]

Notice
How
All
Shitcoins
Are
Pegged
to
Bitcoin's
Price
There
Will
Never
Be
A
Flippening

[d_eddie]

News from Masterluc.

Daily volumes fall = bearish trend is weak. I still believe that the lower $10k will be bought ruthlessly.

[d_eddie]

More news from Masterluc.

My account on bitcointalk.org "masterluc" was compromised

So I'd suggest mistrusting anything Masterluc posts here.

[k453345]

Been reading for a while but only now registered to speak.

Wanted to thank everyone for the great commentary and knowledge sharing.

I am in this for the long run, as stated previously: 1 BTC is 1 BTC. I am confident in the technology, which is what really matters here. This is just a quick stocking up stage. I believe/hope that BTC will only rise stronger. A good rise from this should show confidence in BTC and the community.

Thanks for the positive outlook. I hope to contribute more in the future, but it seems that many active users here are much more knowledgeable than I am.... but there are others that are clearly not. Hopefully I can find a spot to be helpful as well.

HODL/restock is the way through this.

[gentlemand]

https://twitter.com/nathanielpopper/status/958415624455127040

The subpoena is several weeks old according to this.