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

[dakota neat]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

[adamstgBit]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

and every non-chinese trades ( most of the traders there ) 's exit strategy is to withdraw bitcoin...

[Norway]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

Arbitrage should take care of this. I think the market is manipulated, but it can only be done to a certain degree.

[gentlemand]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

It'll be interesting to see whether they're left completely in the dust once buyers have no shortage of options for exchanges that are actually audited and reputable. Momentum is slowly gathering.

It's pretty amazing that people are still willing to put coins and money into such places.

I wonder if two markets would form - 'legit' and 'murky' with the latter completely separate or whether they'll drag down the proper exchanges. Surely there must be a point where transparency must be supplied to be considered relevant.

[ChartBuddy]

Coin
Explanation

[Mickeyb]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

Arbitrage should take care of this. I think the market is manipulated, but it can only be done to a certain degree.

I must agree with this. It's a new market, so manipulation is unavoidable. As we grow, this problem will take care of itself.

[Norway]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

Arbitrage should take care of this. I think the market is manipulated, but it can only be done to a certain degree.

I must agree with this. It's a new market, so manipulation is unavoidable. As we grow, this problem will take care of itself.

I believe the price going down have been a very important factor to slow down adoption the last year and a half. But there is a real and hard limit to how far down it can be pushed. Hopefully, we found rock solid ground in january. The price doesn't even have to go up to gain traction. Constant value would outperform most currencies. And adoption will lead to growing price, more adoption and and and... you get the picture  

[Fakhoury]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

Arbitrage should take care of this. I think the market is manipulated, but it can only be done to a certain degree.

I must agree with this. It's a new market, so manipulation is unavoidable. As we grow, this problem will take care of itself.

I believe the price going down have been a very important factor to slow down adoption the last year and a half. But there is a real and hard limit to how far down it can be pushed. Hopefully, we found rock solid ground in january. The price doesn't even have to go up to gain traction. Constant value would outperform most currencies. And adoption will lead to growing price, more adoption and and and... you get the picture  

Could you elaborate this more please, as it makes some sense for me as I didn't get the full picture yet and I want to fully understand it.

[Norway]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

Arbitrage should take care of this. I think the market is manipulated, but it can only be done to a certain degree.

I must agree with this. It's a new market, so manipulation is unavoidable. As we grow, this problem will take care of itself.

I believe the price going down have been a very important factor to slow down adoption the last year and a half. But there is a real and hard limit to how far down it can be pushed. Hopefully, we found rock solid ground in january. The price doesn't even have to go up to gain traction. Constant value would outperform most currencies. And adoption will lead to growing price, more adoption and and and... you get the picture  

Could you elaborate this more please, as it makes some sense for me as I didn't get the full picture yet and I want to fully understand it.

I'm not sure if you're pulling my leg, sir. But I think there is a possibility that the people who could potentially loose money and power because of bitcoin, are pushing the price down to prevent adoption. Not only profitable with shorting, but even with a loss. (Buy with premium from miners, and dump it with a loss on exchanges.)

Some say that the bitcoin economy is too tiny to get serious attention from the people who owns the banks. But bitcoin could be like cancer to them. It's small, but still a big threat.

[molecular]

Check out these newbie bitcoiners:
https://blog.xapo.com/announcing-xapos-advisory-board/

Holy Fucking Macaroni!

Pardon my French

Wow, I mean just wow.
Founder of Visa, former CEO of Citibank and former Secretary of the Treasury in one single bitcoin company advisory board.

yeah, right? fucking hell! I like Wences Cesares,... those other dudes I am a bit suspicious about.

[unent]

you can't fight chinese database coin dumpers. they run fractional reserve exchanges and can dump ten thousands of coins on the market over and over again. until this isn't resolved there is no way i'm throwing a single dollar on this scam.

It'll be interesting to see whether they're left completely in the dust once buyers have no shortage of options for exchanges that are actually audited and reputable. Momentum is slowly gathering.

It's pretty amazing that people are still willing to put coins and money into such places.

I wonder if two markets would form - 'legit' and 'murky' with the latter completely separate or whether they'll drag down the proper exchanges. Surely there must be a point where transparency must be supplied to be considered relevant.

The separation of exchanges into two categories seems to already be starting because of KTC regulations. The most compliant exchanges require so much official paperwork that it's difficult to register at them. The other less scrupulous exchanges are easier to register at but are often accused of running fractional reserves because they are never audited.

[bassclef]

Arbitrage should take care of this. I think the market is manipulated, but it can only be done to a certain degree.

I agree. With a market of this size, you really have to expect manipulation. Even a whale carefully trading a 10k position is going to manipulate the market, intentionally or not. It's simply the nature of the volume that he trades.

[molecular]

The separation of exchanges into two categories seems to already be starting because of KTC regulations. The most compliant exchanges require so much official paperwork that it's difficult to register at them. The other less scrupulous exchanges are easier to register at but are often accused of running fractional reserves because they are never audited.

bitfinex was audited a year or so ago by a trusted community member (it's about time to do it again).

Just because an exchange doesn't do KYC/AML doesn't mean it can't (or shouldn't) be audited.

[gentlemand]

The separation of exchanges into two categories seems to already be starting because of KTC regulations. The most compliant exchanges require so much official paperwork that it's difficult to register at them. The other less scrupulous exchanges are easier to register at but are often accused of running fractional reserves because they are never audited.

Well, I'd prefer some KYC probes up my arse compared to pouring my resources into a bottomless black hole. I can't foresee two systems existing in tandem for very long. Customers would need to vote with their cash.

[dakota neat]

The separation of exchanges into two categories seems to already be starting because of KTC regulations. The most compliant exchanges require so much official paperwork that it's difficult to register at them. The other less scrupulous exchanges are easier to register at but are often accused of running fractional reserves because they are never audited.

bitfinex was audited a year or so ago by a trusted community member (it's about time to do it again).

Just because an exchange doesn't do KYC/AML doesn't mean it can't (or shouldn't) be audited.

We can have trustless exchanges right away. The code is written [https://news.ycombinator.com/item?id=7277865].
Guess why we don't have it yet. Fractional Reserve and all information about the orderbook - this is heaven.

[ChartBuddy]

Coin
Explanation

[empowering]

tick tock tick tock tick tock 

[molecular]

The separation of exchanges into two categories seems to already be starting because of KTC regulations. The most compliant exchanges require so much official paperwork that it's difficult to register at them. The other less scrupulous exchanges are easier to register at but are often accused of running fractional reserves because they are never audited.

bitfinex was audited a year or so ago by a trusted community member (it's about time to do it again).

Just because an exchange doesn't do KYC/AML doesn't mean it can't (or shouldn't) be audited.

We can have trustless exchanges right away. The code is written [https://news.ycombinator.com/item?id=7277865].
Guess why we don't have it yet. Fractional Reserve and all information about the orderbook - this is heaven.

The customer is failing to do his job. A tragedy of the commons?

[ChartBuddy]

Coin
Explanation

[podyx]

Consolidation till june 20th, after that pump to $260 and then dump to $220, after that there may be another bubble.

Classified inside sources