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

[hd060053]

We've passed the 3000cny mark for a few hours now.
Hope it holds and we can finally move past this chinese wall.

it's the bitfinex wall up to 470 which stops it to go higher now.

[clopoterian]

It's a brave new world ... organisations who have become dependent upon mission critical IT infrastructure should pay for better IT security and if they don't even understand what that means they should pay someone who knows to help them out ... instead of playing victim after demonstrating willful negligence.

How about you scumbags just stop extorting hospitals before you get a jackboot up your ass, to demonstrate your willful negligence in securing it?
How would that be?

What if hospitals are extorted in dollars? Will you threaten Federal Open Market Committee getting a jackboot up their ass? How would that be, scumbag?

But that's the point -- it would be incredibly difficult to do it in dollars, that's why dollars aren't used to extort hospitals & bitcoin is.
But yeah, if FOMC designed a financial instrument ideally suited for extorting hospitals (like BTC), and then proceeded to extort hospitals, that would be a totally dick move.

[r0ach]

Jewish Bankers issue debt based currency to establish a system of neo-feudalism through usury.  Citizens pay off ransom to the Jewish bankers and they come back asking for more or there will be tanks in the streets

"Negotiating with criminals doesn’t always work out, as Kansas Heart Hospital in Wichita learned last week.

That’s right: the criminals got their ransom, and then decided they wanted more money. The hospital’s president, Dr. Greg Duick says the hospital is not paying up."

[becoin]

It's a brave new world ... organisations who have become dependent upon mission critical IT infrastructure should pay for better IT security and if they don't even understand what that means they should pay someone who knows to help them out ... instead of playing victim after demonstrating willful negligence.

How about you scumbags just stop extorting hospitals before you get a jackboot up your ass, to demonstrate your willful negligence in securing it?
How would that be?

What if hospitals are extorted in dollars? Will you threaten Federal Open Market Committee getting a jackboot up their ass? How would that be, scumbag?

But that's the point -- it would be incredibly difficult to do it in dollars, that's why dollars aren't used to extort hospitals & bitcoin is.

But that's the point -- before bitcoins extortionists did that in dollars. It was incredibly difficult to do it in physical gold. That's why physical gold wasn't used to extort hospitals & dollars were.

[finkelsteinMonster]

http://pestkill.org/wp-content/uploads/cockroaches-poop.jpg

GTF out of my house, disgusting parasite.

[r0ach]

GTF out of my house, disgusting parasite.

No Jew tears, Lambchop and Co.

http://www.youtube.com/watch?v=mrMLMV6E4CM

[clopoterian]

It's a brave new world ... organisations who have become dependent upon mission critical IT infrastructure should pay for better IT security and if they don't even understand what that means they should pay someone who knows to help them out ... instead of playing victim after demonstrating willful negligence.

How about you scumbags just stop extorting hospitals before you get a jackboot up your ass, to demonstrate your willful negligence in securing it?
How would that be?

What if hospitals are extorted in dollars? Will you threaten Federal Open Market Committee getting a jackboot up their ass? How would that be, scumbag?

But that's the point -- it would be incredibly difficult to do it in dollars, that's why dollars aren't used to extort hospitals & bitcoin is.

But that's the point -- before bitcoins extortionists did that in dollars. It was incredibly difficult to do it in physical gold. That's why physical gold wasn't used to extort hospitals & dollars were.

Well no, they didn't. And actual IRL money has continuously evolved to make such asshattery more difficult.
And then along comes beedcoin and makes all the criminal shit that got burnt down ages ago fresh again: Ponzis, gambling, junk stock offerings, extortion, money laundering, etc., etc.
Thanks guys!

[finkelsteinMonster]

GTF out of my house, disgusting parasite.

Oh no! https://upload.wikimedia.org/wikipedia/en/thumb/0/07/Arm_%26_Hammer_logo.svg/1024px-Arm_%26_Hammer_logo.svg.png My only weakness!

2 dum 2 fart.

[r0ach]

Do people think Bitstamp is solvent or selling fractional reserve coins?

Bitstamp screwed up a while back and lost $5 million in a social engineering attack.  I don't know if they've done any type of proof of solvency post-attack, but their exchange behavior lately has been very strange.  Someone has been really desperate to try and keep prices low there.  For example, right now prices are $454 on Finex, BTCE, and Coinbase, yet in the following picture, you can see someone has a wall up at $452 trying to prevent it from going higher while also dumping coins into the buy side.  They are essentially just setting money on fire doing this in an attempt to stop Bitcoin from rising.  

It's possible it's just some rich entity that really doesn't want the price of BTC to go up because they want to accumulate as many coins as possible before halving, but the other possibility is the exchange itself trying to keep prices lower to buy back coins they don't actually have.  This is not an actual Gox situation or anything since the coins that were stolen from Bitstamp have been sold off long ago, so it's only an issue if they turn out to be selling you non-existent coins for fiat and you try to withdraw from there.

Here's the link from the July 1st, 2015 robbery:

http://www.coindesk.com/unconfirmed-report-5-million-bitstamp-bitcoin-exchange/

It's always possible it's just a manipulator unaffiliated with the exchange, or the people pumping Ethereum trying to stop Bitcoin from rising to prevent their pump and dump altcoin from imploding.

[becoin]

.
And then along comes beedcoin and makes all the criminal shit that got burnt down ages ago fresh again: Ponzis, gambling, junk stock offerings, extortion, money laundering, etc., etc.

Oh, well, before bitcoin there were no ponzis, gambling, junk stock offerings, extortion, money laundering, etc., etc...
From which planet are you coming, buddy? Where did you live before 2008?

[Paashaas]

Anonymous hits New York Stock Exchange, World Bank, The Fed, Vatican, Rothschild and BIS central owned banks.  

The banks have been getting away with murder, fraud, conspiracy, war profiteering, money laundering for terrorists and drug cartels, have put millions of people out on the street without food or shelter and have successfully bought all our governments to help keep us silenced. We represent the voice of the voiceless. We are uniting to make a stand. The central banks which were attacked in recent days were attacked to remind people that the biggest threat we face to an open and free society is the banks. The bankers are the problem and #OpIcarus is the solution.

http://www.activistpost.com/2016/05/anonymous-hits-new-york-stock-exchange-world-bank-the-fed-vatican-total-media-blackout.html

[clopoterian]

.
Well no, they didn't. And actual IRL money has continuously evolved to make such asshattery more difficult.
And then along comes beedcoin and makes all the criminal shit that got burnt down ages ago fresh again: Ponzis, gambling, junk stock offerings, extortion, money laundering, etc., etc.

Oh, well, before bitcoin there were no ponzis, gambling, junk stock offerings, extortion, money laundering, etc., etc...
From which planet are you coming, buddy? Where did you live before 2008?

Lol, the boldface part, the stuff you expertly edited out. if it was a snake, it would'a bit you.

Criminals constantly evolve ("innovate," claw out new rat holes), and law evolves alongside, plugging up those holes. Laundering IRL money was once trivial, as was selling junk securities, promoting ponzis, numbers rackets, etc., etc. Those rat holes were plugged up, until you gentlemen came up with beetscoins and uncorked them again.
Of course, society is not going to regulate the shit out of beadcoins & let you proceed with your antics unmolested, because disruptive technology.
And you wonder why you get no love from the press & banks refuse to deal with you
You're mostly inept criminals, that's why

[finkelsteinMonster]

The central banks which were attacked in recent days were attacked to remind people that the biggest threat we face to an open and free society is the banks. The bankers are the problem and #OpIcarus is the solution.

Not banks, Saurians. Saurians are the biggest threat we face.
http://www.heavenly-angels.org/english/images/obr2901x_en.jpg
http://www.heavenly-angels.org/english/default_en.htm

[clopoterian]

Hurray!
EU Parliament Approves Proposal for Digital Currency Task Force
http://www.coindesk.com/eu-parliament-digital-currency-task-force/
Party vans en route. Bullish!

[r0ach]

Hurray!
EU Parliament Approves Proposal for Digital Currency Task Force
http://www.coindesk.com/eu-parliament-digital-currency-task-force/
Party vans en route. Bullish!

Are they going to stop the jews from issuing debt based digital fiat to establish a system of neo-feudalism through usury?

[altsheets]

Newbium WOB preview

Proudly presenting a new tool, which -e.g. for Bitcoin-
is aggregating all available orderbook data from
52 markets in 13 currencies on 27 exchanges.


(click for larger)

We call the approach WOB = "world order book".
Already working & useful, within our Newbium beta (preview).

WOB Explanations: pt1 and pt2



--> Medium Blog, and Whitepaper (8 levels are planned) --> chat (soon)
--> fully functional  Preview beta: WOB within MVP (minimum viable product) for "view live data + trade"
--> Crowdsale (ends May 31st), with Affiliate Program - please use this link, thx.


Really interested to hear your opinion!
Perhaps PM me geeky questions, and we later publish a summary.

 

Edit: retweet - thx.

nice work, we'll keep an eye on it for you

Thanks a lot. Much appreciated.

Any questions I can answer?

Do you have hints for us? WOB is only a part of step 1 of 8 steps in Newbium, but I want to make sure to build it as good as possible.

https://i.imgur.com/xY7zjQf.png

I expect the sell side to list something like 75 million coins for sale eventually.  It's kind of a useless metric unless all the exchanges listed actually do proof of solvency.

Yep, it is useless metric. Most of the exchanges allow placing hidden orders if order is bigger than 50 btc.

I understand your doubts.

We are still far away from that scenario though. When the totals were converging (i.e. adding even more exchanges did little to influence the aggregated outcomes) ... I was surprised to see the total order volume ... to be that small. Tiny, literally. Worldwide BTC sell orders (the part that is publicly visible, in 27 exchanges) have a total of ~25 mio USD. We are seeing only 1/290 of all Bitcoin in existence in the sell orderbooks (or ... 1/1400 of your 75mio nightmare).

Obvious explanations: People do keep their coins outside the exchanges, good. Some exchanges are truncating the depth to e.g. 500 or 2000 order around the current price, bad. And yes, orders can be hidden / conditioned - and then no one is able to count them in. Missing data is sad, but ubiquitous. Still, many people do aggregate datasets with missing data, all over science.

For sure: Any secondary analysis depends on the quality of the primary data.  That applies to all data analysis sites, also coinmarketcap, bitcoinwisdom, etc. - I guess you then also never trust, nor use such sites yourself? How do you navigate Bitcoinworld, never using any data aggregators? I would not want to trade like that, but that's just me.

But yes: I see my highest goal to provide reliable analysis, so I am worried about such questions myself. Essentially you can always only trust data that you have generated yourself.  But with your approach you assume in Cryptoland near to 100% are scammers? I don't believe that. The incentive for an exchange to report a false orderbook ... I don't yet see how they would profit from that. But yes, it might happen.

There are three effects which mitigate the problem:
* Exchanges can not profit financially from reporting fake orderbooks. (Or perhaps they do - can you invent a scenario?)
* A law of large numbers - the more exchanges we query (now 30+), the less important the black sheep will be in our aggregation.
* The bear scammers and the bull scammers ... can cancel each other out.

And most importantly, and as we will never be able to sample the whole totality: Do not mainly look at the absolute numbers - but look at the ratio of green(buybook) and red(sellbook) column.

Even if our new metrics is not "truth" itself - but only a good proxy for the truth - in cross-comparison, it really helps to uncover reality. Examples:

balanced https://twitter.com/altsheets/status/735506529466646528
sell pressure https://twitter.com/newbiumcoin/status/733508871747051520
buy pressure https://twitter.com/altsheets/status/735817783666200576

But of course: If an exchange will be reported to be providing fake data, then we'll simply cut them out of our data collection. Forever.

Good point, thanks for the hint. And please alert us when you hear about such API data fraud.

Sunny greetings  

[finkelsteinMonster]

Hurray!
EU Parliament Approves Proposal for Digital Currency Task Force
http://www.coindesk.com/eu-parliament-digital-currency-task-force/
Party vans en route. Bullish!

Are they going to stop the jews from issuing debt based, digital fiat to establish a system of neo-feudalism through usury?

http://s33.postimg.org/ysnarzaun/jew_laughting_at_you.gif
Good one, goy!

[yefi]

But that's the point -- it would be incredibly difficult to do it in dollars, that's why dollars aren't used to extort hospitals & bitcoin is.
But yeah, if FOMC designed a financial instrument ideally suited for extorting hospitals (like BTC), and then proceeded to extort hospitals, that would be a totally dick move.

What are you going to do un-invent it? Whilst you're at it, expunge John Browning, Manhatten Project, etc. from history so we can all live with ponies singing Kum Bah Ya, My Lord.

[clopoterian]

But that's the point -- it would be incredibly difficult to do it in dollars, that's why dollars aren't used to extort hospitals & bitcoin is.
But yeah, if FOMC designed a financial instrument ideally suited for extorting hospitals (like BTC), and then proceeded to extort hospitals, that would be a totally dick move.

What are you going to do un-invent it? Whilst you're at it, expunge John Browning, Manhatten Project, etc. from history so we can all live with ponies singing Kum Bah Ya, My Lord.

Why would we need to uninvent beadcoin? Did we have to uninvent ponzis? Bearer bonds? Heroin? Murder? Rape?

Ban/regulate the shit out of it, works good 'nuff

[luckygenough56]