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

[Fatov]

The price was up before he and his friends wanted. They invented the debate and dump thousands of bitoin to lower the price

[Cconvert2G36]

The price was up before he and his friends wanted. They invented the debate and dump thousands of bitoin to lower the price

Feeling left out? Fine...

[ChartBuddy]

Coin
Explanation

[JorgeStolfi]

The big drop, which began Aug 15,

What chart are you using? As I said, on Bitstamp I see only a small $5 drop on that date, like those that happened almost every day in the preceding 2 weeks.  There was another $5 drop the next day (Sunday), and no drop on the 17th (Monday).  The big drop was on Aug 18.

was obviously caused by the Gavinista offensive escalation on that date.

How many bitcoin traders took note of that post?  

It seems that we have very different ideas about who are the "bictoin comunity" and how they think.  Regular readers of the bitcoin forums seem to think that all bitcoiners and traders are also regular readers like them, well-aware of issues and developments.  But I would be surprised if, even today, there are more than 10'000 bitcoiners who are aware of the "block size war" and have a reasonable idea of what it means.  I even bet that most bitcoiners could not tell Gavin from Luke or Peter in a police line-up.

Among those bitcoiners who do have minimal understanding of the war, I bet that many think that it is an minor technical question that will be satisfactorily resolved, like all previous issues were, and therefore it is not something that they have to understand further.

FUD reached a peak on that day, when Satoshi Himself suddenly appeared and declared Galvin and Hearn's putsch attempt a "very disappointing" development.

FUD indeed...  That obviously fake email was a low point in certain party's struggle for absolute power over Bitcoin...

[JayJuanGee]

wall street money pouring in.

Yup, currently 3.2 thousand dollars bids at Gemini, this looks sooo bullish...
The bid sum / ask sum ratio is about 20$, might be an insight into the future of bitcoin...

And those are probably just nerds from this forum "Taking Part in History!!!".

How do we link to Gemini's exchange (trading and books) information?  Do we need to create an account?  

Only institutional representatives can create an account, no?

[Fatman3001]

wall street money pouring in.

Yup, currently 3.2 thousand dollars bids at Gemini, this looks sooo bullish...
The bid sum / ask sum ratio is about 20$, might be an insight into the future of bitcoin...

And those are probably just nerds from this forum "Taking Part in History!!!".

How do we link to Gemini's exchange (trading and books) information?  Do we need to create an account?  

Only institutional representatives can create an account, no?

I use this: https://cryptowat.ch/gemini/btcusd/5min

I think you anyone can open an account as long as they live in one of the US states currently supported.

[luigi1111]

wall street money pouring in.

Yup, currently 3.2 thousand dollars bids at Gemini, this looks sooo bullish...
The bid sum / ask sum ratio is about 20$, might be an insight into the future of bitcoin...

And those are probably just nerds from this forum "Taking Part in History!!!".

How do we link to Gemini's exchange (trading and books) information?  Do we need to create an account?  

Only institutional representatives can create an account, no?

I use this: https://cryptowat.ch/gemini/btcusd/5min

I think you anyone can open an account as long as they live in one of the US states currently supported.

AFAIK anyone can open an account; you just can't do fun things like fund and trade unless they're in your state.

In other news, I created an account yesterday, got the "we are not operational in your state yet". Then this morning, I received an email saying "we're operational in your state", but after logging in, I'm still getting "we are not operational in your state yet". I'm so confused. 

[Meuh6879]

EURO

[Ayle56]

wall street money pouring in.

Yup, currently 3.2 thousand dollars bids at Gemini, this looks sooo bullish...
The bid sum / ask sum ratio is about 20$, might be an insight into the future of bitcoin...

And those are probably just nerds from this forum "Taking Part in History!!!".

How do we link to Gemini's exchange (trading and books) information?  Do we need to create an account?  

Only institutional representatives can create an account, no?

You can see it here, although trading has been very low volume since it started. I think there's only been about 45 Bitcoins changed hands since it opened.

http://bitcoinity.org/markets/gemini/USD

Most of the trades are for less than one Bitcoin. The last 3 hours of trades are below.

[hdbuck]

wall street money pouring in.

Yup, currently 3.2 thousand dollars bids at Gemini, this looks sooo bullish...
The bid sum / ask sum ratio is about 20$, might be an insight into the future of bitcoin...

And those are probably just nerds from this forum "Taking Part in History!!!".

How do we link to Gemini's exchange (trading and books) information?  Do we need to create an account?  

Only institutional representatives can create an account, no?

You can see it here, although trading has been very low volume since it started. I think there's only been about 45 Bitcoins changed hands since it opened.

http://bitcoinity.org/markets/gemini/USD

Most of the trades are for less than one Bitcoin. The last 3 hours of trades are below.

would be so funny tho if the userbase does not expand as expected, because well, NYC KYC regulation et al.

hope the twins saved some coins to fake some volume.

[JorgeStolfi]

A rule change is really safe only if all miners and all clients upgrade to the same version before the change is activated.  

bitcoin is not a democracy. ergo, nobody "enforces" anyone.

Self-interest is supposed to convince all clients who care about their coins upgrade -- if the majority of the miners have decided to implement the change in the protocol, if clients are told that there will be a change, and if they are clearly warned that their software will stop working on date X, unless and until they upgrade.   

[muyuu]

A rule change is really safe only if all miners and all clients upgrade to the same version before the change is activated.  

bitcoin is not a democracy. ergo, nobody "enforces" anyone.

Self-interest is supposed to convince all clients who care about their coins upgrade -- if the majority of the miners have decided to implement the change in the protocol, if clients are told that there will be a change, and if they are clearly warned that their software will stop working on date X, unless and until they upgrade.  

Which makes soft forks inherently safer than hard forks with respect to immediate forks. In soft forks, non-upgrading is neutral for other miners, loses money to the miner who doesn't upgrade. In hard forks, it depends. A hard fork without sufficient coordination is undistinguishable from a hostile fork, who loses depends on the outcome of the process. In the soft fork, upgrading is completely safe for the individual miner with respect to possible chain forks.

[ChartBuddy]

Coin
Explanation

[JayJuanGee]

wall street money pouring in.

Yup, currently 3.2 thousand dollars bids at Gemini, this looks sooo bullish...
The bid sum / ask sum ratio is about 20$, might be an insight into the future of bitcoin...

And those are probably just nerds from this forum "Taking Part in History!!!".

How do we link to Gemini's exchange (trading and books) information?  Do we need to create an account?  

Only institutional representatives can create an account, no?

I use this: https://cryptowat.ch/gemini/btcusd/5min

I think you anyone can open an account as long as they live in one of the US states currently supported.

Thanks for the link.    That was the main information that I was looking for.

 I did see that I had misread the main Gemini sign in page, and it does appear to allow individuals to create an account.   

I did begin the create an account process, and it too me a little while to confirm the email and phone number.   I skipped the sections to confirm my identity and link a bank account (which I can do later if I want).

By the way, I see that Gemini accounts have officially traded a total of 21 BTC in the past 12 hours on the exchange, since it opened its doors.....

I cannot determine if there is any fee for transferring funds; however, it appears that the trading fee is .25%, which seems pretty reasonable, no?

[JayJuanGee]

wall street money pouring in.

Yup, currently 3.2 thousand dollars bids at Gemini, this looks sooo bullish...
The bid sum / ask sum ratio is about 20$, might be an insight into the future of bitcoin...

And those are probably just nerds from this forum "Taking Part in History!!!".

How do we link to Gemini's exchange (trading and books) information?  Do we need to create an account?  

Only institutional representatives can create an account, no?

You can see it here, although trading has been very low volume since it started. I think there's only been about 45 Bitcoins changed hands since it opened.

http://bitcoinity.org/markets/gemini/USD

Most of the trades are for less than one Bitcoin. The last 3 hours of trades are below.

would be so funny tho if the userbase does not expand as expected, because well, NYC KYC regulation et al.

hope the twins saved some coins to fake some volume.

You do NOT need any coins to fake volume, but I suppose it would be safer to have some actual coins for faking that volume.

[ChartBuddy]

Coin
Explanation

[Dilla]

Gemini launched, and the price didn't tank, actually nothing really happened to the price because of Gemini recently, unlike the Coinbase launch. Good deal, let's continue a steady uptrend through the halving!

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[pleaseexplainagain]

Gemini launched, and the price didn't tank, actually nothing really happened to the price because of Gemini recently, unlike the Coinbase launch. Good deal, let's continue a steady uptrend through the halving!

Gemini appeals to what i call the "cautious adventurer". The 'adventurer" market for bitcoin is quite small as so many people do not know about or are unsure what is going to happen with it so only a small % (adventurers) will be intersted in buying at all.
Then we come to the exchanges - the existing will have accommodated most of the adventurers if they had really wanted bitcoins. Gemini though would have appealed to the cautious as it has the normal bank "protections" but they would still are just a subset of the adventurer market not a new market.

So it was not expected there would be queues to get involved especially since bitcoin has since the beginning of the year been in a $200-$300 range. So if it went to $200 soon and they bought in at $240 (current price) they could easily have lost $40 (16%) on every bitcoin. And if they were thinking  their 'rushing' to buy might put pressure on the price (and that is possible) they would be even more reluctant to act.