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

[olseh]

Well 2018 turned out to be a shitty year for bitcoin

We've just entered March... I think we have a little ways to go yet before we start calling doom and gloom

[JayJuanGee]

Well 2018 turned out to be a shitty year for bitcoin

Yeah such a shitty year, and so short, too.  I cannot believe how fast it has gone by.   As you get older, years seem to go by faster and faster.


Seems like it has been only a couple of months and 2018 is already over... Fuck!!!!!  


Edit: ah hah!!!!!!!!   I see that olseh beat my post by 7 seconds.

[drays]

For people to finally learn that price predictions are pure fine grade BS.

Or to not make investment decisions based on advice from random guys on a forum.

Take your pick  

Is McAfee a random guy?

If price predictions are BS, what is the purpose of this board?

This board is fun to read, a lot of different kind of information can be obtained here, plenty of very interesting topics, often not closely related to Bitcoin - analytics, retrospective views, news, opinions, old news which you never were aware about at the time, lots of other stuff.
At the very least, this thread is good to read to improve English skills, which suffer a lot while reading some other topics of this same forum  

Indeed I started to read this board to get price predictions, but then realized the predictions are the least interesting (and the least reliable too!!) part of discussions here . The rest is much more valuable.

Keep this up, guys!

P.S. And McAffee is indeed a random guy, btw. Doesn't seem trustworthy to me, honestly.

[gembitz]

For people to finally learn that price predictions are pure fine grade BS.

Or to not make investment decisions based on advice from random guys on a forum.

Take your pick  

Is McAfee a random guy?

If price predictions are BS, what is the purpose of this board?

This board is fun to read, a lot of different kind of information can be obtained here, plenty of very interesting topics, often not closely related to Bitcoin - analytics, retrospective views, news, opinions, old news which you never were aware about at the time, lots of other stuff.
At the very least, this thread is good to read to improve English skills, which suffer a lot while reading some other topics of this same forum  

Indeed I started to read this board to get price predictions, but then realized the predictions are the least interesting (and the least reliable too!!) part of discussions here . The rest is much more valuable.

Keep this up, guys!

P.S. And McAffee is indeed a random guy, btw. Doesn't seem trustworthy to me, honestly.

why i simply stuck around for the free beer! :-D weee

[slowlyslowly]

where are the Winklevii up to with their fund? Still awaiting SEC approvals?

They are appealing a negative decision.
It actually sucks for them as they initially submitted the application in 2013.
I was certain that they would get it approved in 2014 or 2015, hence did not invest any $ in GBTC (in IRA).
Oh, well.
Personally, I think that they were treated unfairly.
[/quote]

yes as i recall they were backing everything with their own bitcoins ie it was offering far more 'protection" for people investing in it than lots of other things introduced since. The authorities seemed to keep turning them done on the grounds that the bitcoin world was not as "settled" as fiat which was an impossible test to pass.

[infofront]

I have a stupid question about Japan. Don't they believe in auctions?

They're a very polite society. Auctions are too confrontational.

[jbreher]

How does the coinbase index fund actually work? For instance if you invest say $10k, does coinbase purchase and hold the various cryptos on their books to match the $10k investment?

https://www.google.com/search?q=coinbase+index+construction+methodology+asset+management+pdf

[jbreher]

That’s just silly when you can do it yourself. 

Will convey preferred taxation considerations to some.

[Paashaas]

I'm impressed how the market absorbed all those Goxx coins, especially at the 6k-7k range.

Bullish AF!

[Rosewater Foundation]

Well 2018 turned out to be a shitty year for bitcoin

Yeah such a shitty year, and so short, too.  I cannot believe how fast it has gone by.   As you get older, years seem to go by faster and faster.


Seems like it has been only a couple of months and 2018 is already over... Fuck!!!!!   


Edit: ah hah!!!!!!!!   I see that olseh beat my post by 7 seconds.

[Mame]

Bounce Bounce

[Rosewater Foundation]

I'm shitposting myself into the poorhouse.

[JayJuanGee]

I'm impressed how the market absorbed all those Goxx coins, especially at the 6k-7k range.

Bullish AF!

Yeah, but I believe that GOX started with 200k BTC, and over the past 3 months, they sold about 35k BTC.. which is hardly a blip in BTC's trading volume...  I think that there is fear about what they are going to do with the other 165k BTC, right?  Which I doubt that they are going to announce before they do anything, such as sell, right?

[HairyMaclairy]

165k is less than 1% of supply.  If the market shits itself because of a fear that 1% of coins might be sold, then the market needs to grow up.  

[BTCMILLIONAIRE]

165k is less than 1% of supply.  If the market shits itself because of a fear that 1% of coins might be sold, then the market needs to grow up.  

If volume is usually in the 10% range of the total supply then throwing an extra 1% on the market would increase volume by 10% (and thus to 11%). Let's say that of the 10% volume half is buy and half is sell pressure. If you now add 1% total supply to the sell side your sell pressure increases to 6%, which is now 20% higher than the buy pressure. This 20% figure is a bit more significant than 1% and in this case is more visible than the amount of extra coins are as a function of total supply.

tl;dr liquidity matters

[explorer]

165k is less than 1% of supply.  If the market shits itself because of a fear that 1% of coins might be sold, then the market needs to grow up.  

If volume is usually in the 10% range of the total supply then throwing an extra 1% on the market would increase volume by 10% (and thus to 11%). Let's say that of the 10% volume half is buy and half is sell pressure. If you now add 1% total supply to the sell side your sell pressure increases to 6%, which is now 20% higher than the buy pressure. This 20% figure is a bit more significant than 1% and in this case is more visible than the amount of extra coins are as a function of total supply.

tl;dr liquidity matters

And we allll know what happens when it gets turned up to eleven!

[Lopumbo]

165k is less than 1% of supply.  If the market shits itself because of a fear that 1% of coins might be sold, then the market needs to grow up.  

that just shows how shallow the market is

if less than 1% of supply can push the price ~70% down, one might wonder what happens if 2-3 whales just cash out, that can happen every day 

[HairyMaclairy]

165k is less than 1% of supply.  If the market shits itself because of a fear that 1% of coins might be sold, then the market needs to grow up.  

If volume is usually in the 10% range of the total supply then throwing an extra 1% on the market would increase volume by 10% (and thus to 11%). Let's say that of the 10% volume half is buy and half is sell pressure. If you now add 1% total supply to the sell side your sell pressure increases to 6%, which is now 20% higher than the buy pressure. This 20% figure is a bit more significant than 1% and in this case is more visible than the amount of extra coins are as a function of total supply.

tl;dr liquidity matters

Well said.  However the salient point is that the market demonstrates its immaturity by being so thinly traded.  Keep in mind we are dipping by the mere threat of the sale of 165k coins.  

Edit:  Lopumbo beat me to it by 9 seconds.  

[Rosewater Foundation]

Bitcoin “market cap”: $250 billion
Sale amount required to crash Bitcoin by over 65%: approximately $0.5 billion
House of cards, anyone? When a few whales finally decide to cash out, the party is over.

[HairyMaclairy]

Bitcoin “market cap”: $250 billion
Sale amount required to crash Bitcoin by over 65%: approximately $0.5 billion
House of cards, anyone? When a few whales finally decide to cash out, the party is over.

No, it will bounce like it has ten thousand times before - Bitcoin is Anti-Fragile.  OG whales are starting to get a bit thin on the ground, Loaded notwithstanding.