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

[billyjoeallen]

So somebody dumped 10,000 coins and the price moved ~ six bucks down, bounced back up five and is now holding steady half way up (or down depending on your point of view).  Put together with last weekend's more successful dump, that's 50,000 coins to move the price down ~$25 or 2k coins per dollar lower value.  And there seems to be diminishing returns.

He should write a book called "How to lose your ass attempting to manipulate the bitcoin market".

my guess is he borrowed those coins from some early adopter off exchange and now he is looking to trying to buy them back without moving the market up so much that he loses money. Good luck with that.

[sAt0sHiFanClub]

Oh, and the bitcoin "news" webshites, like CoinDesk, have been as silent on the topic as any statist newsmedia would be.

Its not like we were getting anything meaningful there anyway.

I think this will be a quiet revolution - lots of smothering....  

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[BitofaN1]

So somebody dumped 10,000 coins and the price moved ~ six bucks down, bounced back up five and is now holding steady half way up (or down depending on your point of view).  Put together with last weekend's more successful dump, that's 50,000 coins to move the price down ~$25 or 2k coins per dollar lower value.  And there seems to be diminishing returns.

He should write a book called "How to lose your ass attempting to manipulate the bitcoin market".

my guess is he borrowed those coins from some early adopter off exchange and now he is looking to trying to buy them back without moving the market up so much that he loses money. Good luck with that.

Got to give him credit for his timing though..He probably thought dumping 10k coins among forking/censorship controversy would trigger a cascade of closing longs.Too bad that finex wall ate his coins without flinching.Sometimes walls are real, kids.Don't run head first into them.

[Cconvert2G36]

So somebody dumped 10,000 coins and the price moved ~ six bucks down, bounced back up five and is now holding steady half way up (or down depending on your point of view).  Put together with last weekend's more successful dump, that's 50,000 coins to move the price down ~$25 or 2k coins per dollar lower value.  And there seems to be diminishing returns.

He should write a book called "How to lose your ass attempting to manipulate the bitcoin market".

my guess is he borrowed those coins from some early adopter off exchange and now he is looking to trying to buy them back without moving the market up so much that he loses money. Good luck with that.

Got to give him credit for his timing though..He probably thought dumping 10k coins among forking/censorship controversy would trigger a cascade of closing longs.Too bad that finex wall ate his coins without flinching.Sometimes walls are real, kids.Don't run head first into them.

Yeah, that's twice now. The bidwall is damn real kids. Either the guy runs out of money, or he is laughing as you come to his prices. Errybody's got a limit tho... and why buy here when they'll sell to you even lower? Seems the max_blocksize controversy may have better gifts to give.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

So somebody dumped 10,000 coins and the price moved ~ six bucks down, bounced back up five and is now holding steady half way up (or down depending on your point of view).  Put together with last weekend's more successful dump, that's 50,000 coins to move the price down ~$25 or 2k coins per dollar lower value.  And there seems to be diminishing returns.

He should write a book called "How to lose your ass attempting to manipulate the bitcoin market".

my guess is he borrowed those coins from some early adopter off exchange and now he is looking to trying to buy them back without moving the market up so much that he loses money. Good luck with that.

Got to give him credit for his timing though..He probably thought dumping 10k coins among forking/censorship controversy would trigger a cascade of closing longs.Too bad that finex wall ate his coins without flinching.Sometimes walls are real, kids.Don't run head first into them.

Yeah, that's twice now. The bidwall is damn real kids. Either the guy runs out of money, or he is laughing as you come to his prices. Errybody's got a limit tho... and why buy here when they'll sell to you even lower? Seems the max_blocksize controversy may have better gifts to give.

I love short sellers. Every short has to either cover and provide support or to get squeezed and spike into my sell orders.  We're seeing higher highs and higher lows on the daily chart, even if the moving averages look a little scary.  This fork controversy will get resolved eventually one way or another. Block size will be increased even with chain bloat because more and more of those "dust" transactions will be time stamps or colored coins representing title to something.  Processors are getting faster. Bandwidth is getting wider. Hard drives are getting bigger. It won't be an issue.

Meanwhile the fiat printers are printing, on-ramps for institutional investors are being built and the halving just gets closer.

[ChartBuddy]

Coin
Explanation

[cyclotronmajesty]

So somebody dumped 10,000 coins and the price moved ~ six bucks down, bounced back up five and is now holding steady half way up (or down depending on your point of view).  Put together with last weekend's more successful dump, that's 50,000 coins to move the price down ~$25 or 2k coins per dollar lower value.  And there seems to be diminishing returns.

He should write a book called "How to lose your ass attempting to manipulate the bitcoin market".

my guess is he borrowed those coins from some early adopter off exchange and now he is looking to trying to buy them back without moving the market up so much that he loses money. Good luck with that.

Got to give him credit for his timing though..He probably thought dumping 10k coins among forking/censorship controversy would trigger a cascade of closing longs.Too bad that finex wall ate his coins without flinching.Sometimes walls are real, kids.Don't run head first into them.

Yeah, that's twice now. The bidwall is damn real kids. Either the guy runs out of money, or he is laughing as you come to his prices. Errybody's got a limit tho... and why buy here when they'll sell to you even lower? Seems the max_blocksize controversy may have better gifts to give.

I love short sellers. Every short has to either cover and provide support or to get squeezed and spike into my sell orders.  We're seeing higher highs and higher lows on the daily chart, even if the moving averages look a little scary.  This fork controversy will get resolved eventually one way or another. Block size will be increased even with chain bloat because more and more of those "dust" transactions will be time stamps or colored coins representing title to something.  Processors are getting faster. Bandwidth is getting wider. Hard drives are getting bigger. It won't be an issue.

Meanwhile the fiat printers are printing, on-ramps for institutional investors are being built and the halving just gets closer.

You're gonna hold out that long?

These are day traders... make a few bucks and short attention spans. I'd be doing that too but I see too much potential. I'd rather hold calm for a 200$ trade instead of bust a sweat for a 20$ trade. And miss out on the way up. But there is quite a bit of opportunity... for some reason people are still seeming indecisive...

Either that or the Bitcoins are just being spent in retail.

[Elwar]

The mods at /r/bitcoin are now deleting every post that mentions the existence of the "other" implementation of bitcoin, whatever the contents.  Dozens of posts that had hundreds of upvotes and hundreds of comments.  And banning users who defend it, too.

So much for the great age of freedom and stuff that bitcoin was going to bring.

Oh, and the bitcoin "news" webshites, like CoinDesk, have been as silent on the topic as any statist newsmedia would be.

Yep, they're like cockroaches...pushing their shitcoins so that they can be super rich early adopters since they missed getting into Bitcoin early.

They change a few lines of code and suddenly believe their shitcoin is far superior to Bitcoin and should be the main cryptocurrency. Unfortunately for them, network effect is much more important than any coding tweak when it comes to currency.

I sat through a whole cryptocurrency conference that turned into a shitcoin conference with everyone getting on stage bashing Bitcoin and talking about why their coin was superior. Had I known it was a shitcoin conference I would not have wasted my time.

[hdbuck]

fuckin xt crypto alt. this is no bitcoin. so stop pretending like it is.

[ChartBuddy]

Coin
Explanation

[dragonseer]

The mods at /r/bitcoin are now deleting every post that mentions the existence of the "other" implementation of bitcoin, whatever the contents.  Dozens of posts that had hundreds of upvotes and hundreds of comments.  And banning users who defend it, too.

So much for the great age of freedom and stuff that bitcoin was going to bring.

Oh, and the bitcoin "news" webshites, like CoinDesk, have been as silent on the topic as any statist newsmedia would be.

I don't blame Coindesk for being silent on this one. They are advancing the cause of crypto currency, whereas this forking issue is just a bunch of hyenas. Bitcoin is 'not' a single solution to this digital currency space, and it is better off keeping its integrity while its utility evolves.

[billyjoeallen]

I love short sellers. Every short has to either cover and provide support or to get squeezed and spike into my sell orders.  We're seeing higher highs and higher lows on the daily chart, even if the moving averages look a little scary.  This fork controversy will get resolved eventually one way or another. Block size will be increased even with chain bloat because more and more of those "dust" transactions will be time stamps or colored coins representing title to something.  Processors are getting faster. Bandwidth is getting wider. Hard drives are getting bigger. It won't be an issue.

Meanwhile the fiat printers are printing, on-ramps for institutional investors are being built and the halving just gets closer.

You're gonna hold out that long?

These are day traders... make a few bucks and short attention spans. I'd be doing that too but I see too much potential. I'd rather hold calm for a 200$ trade instead of bust a sweat for a 20$ trade. And miss out on the way up. But there is quite a bit of opportunity... for some reason people are still seeming indecisive...

Either that or the Bitcoins are just being spent in retail.

It's the 3600 coin/day inflation that's putting the downward pressure on price. What's amazing is that there has been an average ~$1 million/day being pumped in to hold the price ever since the $166 bottom last winter.  Miners are selling all or almost all they mine. You gotta love the Chinese. On a macro level, they sell stuff at cost and then lend us the money to buy it. No way that can end well. I'm not just talking about bitcoin. All their exports. If you think about it, Chinese miners are using subsidized electricity so it's actually the Red Chinese government that are providing us all these cheap coins.  It's the only thing China actually sells that prolly won't be worthless in five years.

[brg444]

I love short sellers. Every short has to either cover and provide support or to get squeezed and spike into my sell orders.  We're seeing higher highs and higher lows on the daily chart, even if the moving averages look a little scary.  This fork controversy will get resolved eventually one way or another. Block size will be increased even with chain bloat because more and more of those "dust" transactions will be time stamps or colored coins representing title to something.  Processors are getting faster. Bandwidth is getting wider. Hard drives are getting bigger. It won't be an issue.

Meanwhile the fiat printers are printing, on-ramps for institutional investors are being built and the halving just gets closer.

You're gonna hold out that long?

These are day traders... make a few bucks and short attention spans. I'd be doing that too but I see too much potential. I'd rather hold calm for a 200$ trade instead of bust a sweat for a 20$ trade. And miss out on the way up. But there is quite a bit of opportunity... for some reason people are still seeming indecisive...

Either that or the Bitcoins are just being spent in retail.

It's the 3600 coin/day inflation that's putting the downward pressure on price. What's amazing is that there has been an average ~$1 million/day being pumped in to hold the price ever since the $166 bottom last winter.  Miners are selling all or almost all they mine. You gotta love the Chinese. On a macro level, they sell stuff at cost and then lend us the money to buy it. No way that can end well. I'm not just talking about bitcoin. All their exports. If you think about it, Chinese miners are using subsidized electricity so it's actually the Red Chinese government that are providing us all these cheap coins.  It's the only thing China actually sells that prolly won't be worthless in five years.

Do we have any proof of that? I'm really quite tired of seeing this assumption thrown around as fact...

[esse83]

No fiat hit bitstamp today Prepare for a week of shorters raping bulls. Liquidity has dropped by 50% on Bitstamp since the peak at $318 (3.3mill vs 1.58mill currently)