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

[Totscha]

https://www.bbc.com/news/business-45245149
Bitcoin buster? The search for a more stable cryptocurrency
By Matthew Wall Technology of Business editor

-front page of BBC today
-shilling for Goldman and other scammers

TLDR:
- Bitcoin sucks donkey balls
- Stablecoins are a short term distraction
- EOS and Stellar are the future

I puked in my mouth a bit to improve the taste I got from reading the article...

[Samarkand]

...
-shilling for Goldman and other scammers

Circle's USD Coin will run on the Ethereum blockchain - the distributed ledger technology underlying cryptos...

The author really has no clue whatsoever if he claims that Ethereum is "the distributed ledger
technology underlying cryptos".
He should have at least rephrased it to "the distributed centralized ledger technology underlying 99.8 % of all ICO scams".

Circle´s plan looks like a terrible idea, too. What could possibly go wrong by running
a stablecoin on the buggy Ethereum blockchain, which already has a size of more than
a terabyte and no plan for scaling.

It will allow money to move at the speed of light around the world for free, but also offer binding,
verifiable contracts, enabling anyone to do business together.

Yes, because Ethereum is known for its binding contracts  

Fruit sellers on the streets in Zimbabwe could accept your digital payment via an app," he says.
"Their fiat money is almost worthless, but they could receive tokens in seconds and sell them very easily for a small commission."

Yeah, this seems like a viable use case. Zimbabwean fruit sellers were the killer app that crypto needed all along!

Say I have a house in downtown Saigon worth $1m," says Mr Hoang. "I could tokenise it and sell those tokens on the global crypto market.
You could issue a billion pieces of your house if you wanted. Then people would start trading them, just like shares in a real estate investment trust.

A stable-coin scam on top of a real estate scam  

The whole article is a disgrace for the BBC. I could have easily picked various other
quotes that make absolutely laughable claims that are at odds with reality.

Discard BBC, buy BTC.

[realr0ach]

JayJuanGee things

You don't seem to pay much attention to the absurd fraud known as the bitcoin market.  Let me show you an example.  Even though the two fools below REFUSE to admit the entire bitcoin market is controlled by a single entity operating on Bitfinex because they don't want people to think bitcoin is a fraud, they accidentally bring the subject up every now and then:

Hmmm talk on Twitter of a monster hidden buy wall on BFX @ $6300.  

I hope y’all are wearing a belt.  Maybe do it up a notch tighter just in case.

He's bought around 5k coins by now and is single-handedly holding up the price.

^This market activity they're talking about above IS that person.  It's ONE SINGLE fucking guy that controls the price of bitcoin ever since it was $200.  A market that's eternally controlled by a single person is the biggest scam on the fucking planet.  And yes, the scam involves the Bitfinx owners themselves and Tethers.  I'm the first person in bitcoin that has talked about this entity.  Later on, other people like this Bitfinexed guy and some Zerohedge stories also covered it such as below:

https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4

http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-price

[Cassius]

...
-shilling for Goldman and other scammers

Circle's USD Coin will run on the Ethereum blockchain - the distributed ledger technology underlying cryptos...

The author really has no clue whatsoever if he claims that Ethereum is "the distributed ledger
technology underlying cryptos".
He should have at least rephrased it to "the distributed centralized ledger technology underlying 99.8 % of all ICO scams".

Circle´s plan looks like a terrible idea, too. What could possibly go wrong by running
a stablecoin on the buggy Ethereum blockchain, which already has a size of more than
a terabyte and no plan for scaling.

It will allow money to move at the speed of light around the world for free, but also offer binding,
verifiable contracts, enabling anyone to do business together.

Yes, because Ethereum is known for its binding contracts  

Fruit sellers on the streets in Zimbabwe could accept your digital payment via an app," he says.
"Their fiat money is almost worthless, but they could receive tokens in seconds and sell them very easily for a small commission."

Yeah, this seems like a viable use case. Zimbabwean fruit sellers were the killer app that crypto needed all along!

Say I have a house in downtown Saigon worth $1m," says Mr Hoang. "I could tokenise it and sell those tokens on the global crypto market.
You could issue a billion pieces of your house if you wanted. Then people would start trading them, just like shares in a real estate investment trust.

A stable-coin scam on top of a real estate scam  

The whole article is a disgrace for the BBC. I could have easily picked various other
quotes that make absolutely laughable claims that are at odds with reality.

Discard BBC, buy BTC.

I also read that article first thing and had a slightly more charitable assessment. If you squint a little and it's before your morning coffee, it's possible to believe for several seconds that the writer did more than 5 minutes research. The quality of crypto journalism feels like it's 2014 all over again.
Off to buy some Paycoin from Cryptsy, back in 2018.

[Last of the V8s]

[JayJuanGee]

JayJuanGee things

You don't seem to pay much attention to the absurd fraud known as the bitcoin market.  Let me show you an example.  Even though the two fools below REFUSE to admit the entire bitcoin market is controlled by a single entity operating on Bitfinex because they don't want people to think bitcoin is a fraud, they accidentally bring the subject up every now and then:

Hmmm talk on Twitter of a monster hidden buy wall on BFX @ $6300.  

I hope y’all are wearing a belt.  Maybe do it up a notch tighter just in case.

He's bought around 5k coins by now and is single-handedly holding up the price.

^This market activity they're talking about above IS that person.  It's ONE SINGLE fucking guy that controls the price of bitcoin ever since it was $200.  A market that's eternally controlled by a single person is the biggest scam on the fucking planet.  And yes, the scam involves the Bitfinx owners themselves and Tethers.  I'm the first person in bitcoin that has talked about this entity.  Later on, other people like this Bitfinexed guy and some Zerohedge stories also covered it such as below:

https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4

http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-price

Yes.  If your stupid-assed conspiracy theory were true, namely:  the whole bitcoin market is controlled by one guy (or entity), then yes, bitcoin would be a scam.. but you are OFF of YOUR FUCKING rocker if you really believe that kind of non fact based pie in the sky bullshit.   

[realr0ach]

JayJuanGee things

You don't seem to pay much attention to the absurd fraud known as the bitcoin market.  Let me show you an example.  Even though the two fools below REFUSE to admit the entire bitcoin market is controlled by a single entity operating on Bitfinex because they don't want people to think bitcoin is a fraud, they accidentally bring the subject up every now and then:

Hmmm talk on Twitter of a monster hidden buy wall on BFX @ $6300.  

I hope y’all are wearing a belt.  Maybe do it up a notch tighter just in case.

He's bought around 5k coins by now and is single-handedly holding up the price.

^This market activity they're talking about above IS that person.  It's ONE SINGLE fucking guy that controls the price of bitcoin ever since it was $200.  A market that's eternally controlled by a single person is the biggest scam on the fucking planet.  And yes, the scam involves the Bitfinx owners themselves and Tethers.  I'm the first person in bitcoin that has talked about this entity.  Later on, other people like this Bitfinexed guy and some Zerohedge stories also covered it such as below:

https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4

http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-price

Yes.  If your stupid-assed conspiracy theory were true, namely:  the whole bitcoin market is controlled by one guy (or entity), then yes, bitcoin would be a scam.. but you are OFF of YOUR FUCKING rocker if you really believe that kind of non fact based pie in the sky bullshit.  

Except it is true, and all the people who have any skills in markets that lurk this forum know it.  That one guy with the poker gambling icon who is always posting charts refers to him as "the composite man" for instance. So there's definitely more people than me that have figured it out.  Then that Bitfinexed guy wrote an entire encyclopedia blog about him years after I had been talking about it.

[Last of the V8s]

https://www.mail-archive.com/bitcoin-dev@lists.linuxfoundation.org/msg07362.html#

tl;dr Greg says meh re Friedenbach attack

[Phil_S]

Twitter is buzzing about shorts... what's this all about?

[Last of the V8s]

Twitter is buzzing about shorts... what's this all about?

https://datamish.com/d/000000004/btcusd?refresh=20s&orgId=1
12.8k net shorts just like in April
hopium-smoking bulls expect a big old short squeeze again

[LFC_Bitcoin]

Where pedophiles reign supreme

[Cassius]

Twitter is buzzing about shorts... what's this all about?

https://datamish.com/d/000000004/btcusd?refresh=20s&orgId=1
12.8k net shorts just like in April
hopium-smoking bulls expect a big old short squeeze again

Shorts are at a year-high, and shorts:longs is also almost at a high.
I.e. the market as a whole is betting heavily that BTC will fall.
However the 'wisdom of crowds' tends towards somewhat stupid, and 'the market exists to make fools of as many people as possible' (can't find a source for that quote but it's logically correct). When everyone thinks it's going down, the sellers have already made their moves and have run out of firepower.
So a short squeeze is not off the cards. However, as Max implies, if longs were at an all-time high the bulls would take that as bullish too.

Edit: found it. Bernard Baruch. "The main purpose of the stock market is to make fools of as many men as possible."

[HairyMaclairy]

"The main purpose of the stock market is to make fools of as many men as possible."

Preferably all at the same time.

[Globb0]

if it were true there was 1 (or a few) main manipulators, then it would follow they would want to move the opposite way to all the shorts (or longs)

[Last of the V8s]

how r u meant to observe the walls if they r invisible

[Globb0]

I stopped myself asking show me the invisible wall?   

[Last of the V8s]

https://www.energy.senate.gov/public/index.cfm/hearings-and-business-meetings?ID=61CD5B55-EA3E-41F2-BB4B-3EEB7879131F#

The purpose of the hearing is to consider the energy efficiency of blockchain and similar technologies and the cybersecurity possibilities of such technologies for energy industry applications. In particular, should we expect electricity prices to increase from rising electricity demand in blockchain applications? In addition, how can we evaluate whether blockchain and similar approaches will soon improve the cybersecurity of computing systems used to supply our energy?

[Last of the V8s]

(@Sheffield)
Small-time guys leaving. OG's are not selling and/or are accumulating.

[crypmike]

Own Bitcoin or other digital currencies, 2018.

Turkey: 18%
Romania: 12%
Poland: 11%
Spain: 10%
US: 8%
Austria: 8%
Germany: 8%
Italy: 8%
Australia: 7%
Netherlands: 7%
UK: 6%
France: 6%
Belgium: 5%
Luxembourg: 4%

https://think.ing.com/uploads/reports/ING_International_Survey_Mobile_Banking_2018.pdf

[realr0ach]

if it were true there was 1 (or a few) main manipulators

If?  IF?  There is no if.  You need to be an extremely bad trader, completely clueless, or a combination of both to not have figured out the price is controlled by a single entity operating on Bitfinex by now if you do anything whatsoever in these markets.  A lot of you people are just dumb money hodlers, so I guess that's why most of you haven't seen it because you just buy some shitcoins from the ATM, drive home, then pass out on the couch eating cheetos and don't really interact with the market at all.  

Then again, you people are also completely clueless about lots of other obvious things when my average day is usually something like this: