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Question: How far will this leg take us?
$110K - 6 (7.2%)
$120K - 14 (16.9%)
$130K - 11 (13.3%)
$140K - 9 (10.8%)
$150K - 14 (16.9%)
$160K - 1 (1.2%)
$170K+ - 28 (33.7%)
Total Voters: 83

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26792513 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 1 users with 9 merit deleted.)
El duderino_
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April 26, 2019, 07:50:26 AM

Funny how roach shows up every time there's a dip.

Probably just a coincidence.



Strange you never surprise visit us when we are pumping Cheesy
greensheep
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April 26, 2019, 07:52:30 AM

Someone should add a TETHER side on the FUD dice.

kurious
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April 26, 2019, 08:14:05 AM
Merited by DeathAngel (1)

Finex showing $6.746MM in 30 day volume, assuming 0,2% fee that $13,5MM they make in fees each month. And that doesn't include money they make on lending or interest on their stash. Tether market cap is $2.847MM NY OAG claims they lost $850MM (of their own and clients money) so 30% of all Tether max, i'm sure they'll survive *unless more shit comes up

Hmm... I don't think their liquidity will be doing well - looking at the price increase, people are dumping Tether to buy BTC and presumably trying to get out.

Also - not all clients will be paying 0.2% - so income may be lower and expenses are not zero, either.  Filling a hole of many hundreds of millions cannot be done without years of all that income going into replace 'lost' capital.

As GentlemanD said, the irony is Tether WAS backed up until they lost this large chunk of funds.  However, getting any new banking partner now will be nigh-on impossible.

Finex are in deep shit and probably in a total spin.  Maybe a death spiral.  Since they are (basically) profitable, I would think their best bet might be to try to find someone to buy 'em who does have banking sorted out and can float capital in to save the day. But who they gonna call..? 

Only a couple of candidates exist - and they might think the brand is too toxic.  Even at a sale price of $1, which is the likely price for Finex with a hole in the hundreds of millions of USD and a legal case on their back.

A bank could do it, but even if it makes financial sense, I can't see them risking running a crypto exchange.  Coinbase? Anyone else...?  With fast action needed and no time to do proper due diligence?  Doubt it.

First, Finex need to keep their customers to survive for long enough to find a solution.   

The chances of doing this with the run for the door already well underway is slim and all the Tethers coming back for redemption won't help.  But it's their only hope.
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April 26, 2019, 08:57:12 AM

It's well worth reading the doc. It sounds like a truly bizarre situation.

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=vIexA1b0spKOnK_PLUS_ZUGTJ3A==&system=prod

'Documents provided to OAG demonstrate that by mid-20 18. Bifinex was having extreme difficulty honoring its clients' requests to withdraw their money from the trading platform because Crypto Capital which held all or almost all of Bitfinex·s funds refused to process customer withdrawal requests and refused or was unable to return any funds to Bitfinex.'

It looks like they entrusted everything and were totally beholden to some Panamanian nobodies and were reduced to pleading for their own money from them. How the did BFX allow themselves to get into a situation like that?


Yep - they popped a cool billion dollars (some theirs but mostly client's money) with a dodgy offshore 'payment processor' to do payouts to customers within the banking system - as Finex had no practical access to it.  Around 800 million has now either been lost or simply stolen.

The pleading emails from 'Merlin' at Finex asking, nay pleading nicely to his mate 'Oz' at purported payment processer 'Crypto Capital' to at least pop a $100 million over as things were getting desperate are instructive.


Not YOUR bank, not you FIAT! lol

Some brutal poetic justice there...
El duderino_
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April 26, 2019, 09:06:06 AM

Our sources also say Bitmain is stepping away from BCH project. It will dial down the support . Macree Zhang wants to be nowhere near this failure. Jihan on his own now 🍿

https://twitter.com/btcking555/status/1121699148523352064
LFC_Bitcoin
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April 26, 2019, 09:09:26 AM

Our sources also say Bitmain is stepping away from BCH project. It will dial down the support . Macree Zhang wants to be nowhere near this failure. Jihan on his own now 🍿

https://twitter.com/btcking555/status/1121699148523352064

Yep, now Bitmain it’s time to put all your efforts back into bitcoin. Convert your BCH & BSV back into bitcoin & let’s get the party started Wink
DeathAngel
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April 26, 2019, 09:15:38 AM

Our sources also say Bitmain is stepping away from BCH project. It will dial down the support . Macree Zhang wants to be nowhere near this failure. Jihan on his own now 🍿

https://twitter.com/btcking555/status/1121699148523352064

Yep, now Bitmain it’s time to put all your efforts back into bitcoin. Convert your BCH & BSV back into bitcoin & let’s get the party started Wink

Dat train to $6,000 if they even just stop mining BCH & put resources into BTC
bitserve
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April 26, 2019, 09:17:44 AM

^this

In other words, the odds of Last of the V8 winning his bet are on the cusp of going against him... sucks to be poor (V8).
You would know Wink

Huh?  Me doesn't understand U.

I have done pretty well through my whole life, of course with several periods of frugality, or choices to live within my means, but I have never felt myself to be poor.

On the other hand, when I witness certain levels of wealth extravagance that some rich folks enjoy, on a relative basis, I might have considered myself as poor... yet even after, having said all that, I am struggling to understand your response involving my own level of "poor" situation.

Blah. Stop the nonsense. We ARE ALL POOR. Wake me up at $50K...
El duderino_
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April 26, 2019, 09:18:43 AM

Our sources also say Bitmain is stepping away from BCH project. It will dial down the support . Macree Zhang wants to be nowhere near this failure. Jihan on his own now 🍿

https://twitter.com/btcking555/status/1121699148523352064

Yep, now Bitmain it’s time to put all your efforts back into bitcoin. Convert your BCH & BSV back into bitcoin & let’s get the party started Wink

El duderino_
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April 26, 2019, 09:27:27 AM



https://twitter.com/RedditBTC/status/1121703552106270721
DeathAngel
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April 26, 2019, 09:28:26 AM


Dude looks like he could be an evil villain in the new Bond movie.
El duderino_
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April 26, 2019, 09:31:15 AM


Indeed but as revealed yesterday it will be Rami Malek
kurious
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April 26, 2019, 09:57:49 AM

It's well worth reading the doc. It sounds like a truly bizarre situation.

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=vIexA1b0spKOnK_PLUS_ZUGTJ3A==&system=prod

'Documents provided to OAG demonstrate that by mid-20 18. Bifinex was having extreme difficulty honoring its clients' requests to withdraw their money from the trading platform because Crypto Capital which held all or almost all of Bitfinex·s funds refused to process customer withdrawal requests and refused or was unable to return any funds to Bitfinex.'

It looks like they entrusted everything and were totally beholden to some Panamanian nobodies and were reduced to pleading for their own money from them. How the did BFX allow themselves to get into a situation like that?


Yep - they popped a cool billion dollars (some theirs but mostly client's money) with a dodgy offshore 'payment processor' to do payouts to customers within the banking system - as Finex had no practical access to it.  Around 800 million has now either been lost or simply stolen.

The pleading emails from 'Merlin' at Finex asking, nay pleading nicely to his mate 'Oz' at purported payment processer 'Crypto Capital' to at least pop a $100 million over as things were getting desperate are instructive.


Not YOUR bank, not you FIAT! lol

Some brutal poetic justice there...

I used to do a bit there, but never felt comfortable.  

That said, I just logged in and it turns out I have 0.08 BTC hanging around I'd forgotten about.  

But it will require 2FA set up (for five days prior) and ip Address locking in place for 5 days... And a possible eternal delay because their cold wallet is empty before five days are out.
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April 26, 2019, 10:06:19 AM
Merited by JayJuanGee (1)

tether died and buried hundred times.
people fallin for the same shit hundred times still amazes me.
nothing will happen to tether,this will be forgotten in a few weeks.
El duderino_
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April 26, 2019, 10:12:04 AM



^
When a WO-member just bought that nice DIP....
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April 26, 2019, 10:13:15 AM

tether died and buried hundred times.
people fallin for the same shit hundred times still amazes me.
nothing will happen to tether,this will be forgotten in a few weeks.

Funny thing is that all this proves Tether *was* what it purported to be.

There must be less disastrous ways of demonstrating it.
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April 26, 2019, 10:23:14 AM
Merited by fragout (20), 600watt (1), somac. (1), Icygreen (1), Dunkelheit667 (1), Lambie Slayer (1), ChinkyEyes (1)

I just have bought my ever first bitcoin. Not that much though (not preferred to share). I have had researched on bitcoin since January 2018 but didn't dare to invest in. I spent a hour or two daily on it to learn about it. Today, I have deposited a large amount of my savings and purchased bitcoin. I can feel the ride.
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April 26, 2019, 10:32:39 AM
Last edit: April 26, 2019, 10:48:37 AM by Gyrsur

^^ Welcome to the club and congrats!

For your own safety please follow the rules below:

Rule #1 - create a second account with a nickname (not your real name) and use this account in the future. delete all your posts with the first acount and don't use it anymore (and use Tor if possible).

Rule #2 - don't tell anybody about your investment in Bitcoin.

Rule #3 - forget your investment for at least 5 years and please don't touch it to sell it in panic. just #HODL.

if you follow these Bitcoin basic rules you will stay safe.

EDIT: did some corrections but the post got quoted in the meantime.
fillippone
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April 26, 2019, 10:35:46 AM
Last edit: April 26, 2019, 10:46:36 AM by fillippone

^^ Welcome to the club and congrats!

For your own safety please follow the rules below:

Rule #1 - create a second account with a nickname (not your real name) and use this account in the future. delete your post with this acount and don't use it anymore (and use Tor if possible)

Rule #2 - don't tell anybody about your investment in Bitcoin

Rule #3 - forget your investment for at least 5 years and please don't touch it to sell it in panic.

What if that account is actually THE brand new account with a nickname (not his real name)?

 
EDIT: not questioning merit transactions, but yeah, you get it...
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April 26, 2019, 10:37:52 AM

I just have bought my ever first bitcoin. Not that much though (not preferred to share). I have had researched on bitcoin since January 2018 but didn't dare to invest in. I spent a hour or two daily on it to learn about it. Today, I have deposited a large amount of my savings and purchased bitcoin. I can feel the ride.

Welcome to this crazy experience! You won't have a dull moment for sure Tongue
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