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

[Assmaster2000]

The West is selling ... their bitcoins because there is nothing left for sale and they need to eat something. The only thing West still produces is Western values.

And food. The west produces food. In abundance. The rest of the world needs to eat something.

Educate yourself, Westerner. https://en.wikipedia.org/wiki/Inedia

I'll read it when I need a laugh. I scanned as far as 'Roscrucians', and could go no farther.

Yeah, you're just not open to shifting paradigms and thinking disruptively. The Truths of the Order of the Rosy Cross are more powerful than bioth your beetcoin and BBQcoin put together.

It makes perfect sense that you can survive on sunlight and no water!

More sense than wealth magically created by Chinese turning electricity into heat. Different strokes, I guess

[biggus dickus]

These are the magic days in trading you always look back fondly on (if you don't get hosed).

Yeehaw bitcoin!

[insert funny meme here]

Captain hindsight:  so it looks like what happened was DAO , with their dumb multi-tier ICO eth to dao ratio caused everyone to dump DAO when it first went up, causing huge downward pressure on ETH, so everyone wanted to get out of ETH and into BTC.

Thanks DAO!

How does getting out of DAO work? I heard today was the first day people could get out, but is everyone free to get out at the same time, or do some have to wait longer than others before they can dump DAO?

[finkelsteinMonster]

As far as I'm happy, but I'm afraid from a big correction !!

You'll be fine...

http://s33.postimg.org/4pdzvdsin/assbot.jpg

[mymenace]

  

    
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       | BTC |
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[jt byte]

I'm selling nothing.

I'll ride this baby back down to the 430's, but there's no way I am missing the potential ride up.

That's the exact opposite of what everybody else is DOING 
But if that is your strategy nice to see someone going against the grain on this one. 

[jbreher]

Educate yourself, Westerner. https://en.wikipedia.org/wiki/Inedia

I'll read it when I need a laugh. I scanned as far as 'Roscrucians', and could go no farther.

Yeah, you're just not open to shifting paradigms and thinking disruptively. The Truths of the Order of the Rosy Cross are more powerful than bioth your beetcoin and BBQcoin put together.

[talkingleaves]

[matt4054]

I'm selling nothing.

I'll ride this baby back down to the 430's, but there's no way I am missing the potential ride up.

That's the exact opposite of what everybody else is DOING 
But if that is your strategy nice to see someone going against the grain on this one. 

Trading is a zero-sum game (except when Willy is at work...  )

[jt byte]

China touched $600 (OkCoin and Huobi).

So this is what we are going to look forward to when we wake up in the morning?
I be having dreams of the bitcoin's surge that I bought last week.  

[Dotto]

That 515 bitstamp price is fishy as hell. I won´t be storing coins of fiat there until things clear out.

Can anyone confirm withdrawals?

That said

CCMF

[kodtycoon]

ELI5 how debasing yuan counters the anti-dumping tax?

it strengthens US dollar = shit for stocks + makes exports more expensive imports cheaper. if exports are more expensive it means less foreign currency flowing in and more flowing out. singapore is an interesting exception to the rule, being the only island city state in the world: tiny with little capacity to produce physical goods, they have to import a shit lot and cant export much so a strong currency actually suits them quiet well cos it makes imports cheap and exports expensive. its vice versa to the US and china. it makes labor more expensive in the US too, basically exporting jobs to, guess where, china, where it just got cheaper to produce goods.

edit: it doesnt so much counter the tax,, its more like a big "fuck you i can play dirty too" "best change your tone or shits guna go south for you quick"

I'm not following. Ignoring your Singapore tangent, how is devaluing the yuan "make labor more expensive in the US"?
And you do know that US minimal wage is far better than Chinese average wage, so which jobs would they be stealing that they ain't already got?
Not seeing much of a "fuck you" there, to be honest.

so if you wana hire 1000 people to make t-shirts, who do you employ? the ones who demand high pay, or the ones you can employ to do the same thing for a fraction of the price. so if im in england, i want 1,000,000,000 t-shirts, im guna hire the chinese instead of the americans. so my money then flows into china instead of america. and then because the dollar is strong, and the cost of producing the same t-shirt in america is higher, people will buy the t-shirts from me and import them instead of buying from a local producer in america. so 1) the jobs to produce the t-shirts have shifted to china and 2) when people in america want to buy t-shirtsm they buy the cheaper chinese version causing capital outflow instead of inflow. its one country steeling growth from the other. that 450% means anyone who needs metal will buy in the US instead of china, pulling back the jobs to produce the metal and also keeping the money paid for the metal by consumers in the country. america takes back value from one industry, while china turns around and takes that same value back from a different place but still taking it back.

[Fakhoury]

For Allah (God) sake, check the BOLD PART !!

[Assmaster2000]

Educate yourself, Westerner. https://en.wikipedia.org/wiki/Inedia

I'll read it when I need a laugh. I scanned as far as 'Roscrucians', and could go no farther.

Yeah, you're just not open to shifting paradigms and thinking disruptively. The Truths of the Order of the Rosy Cross are more powerful than bioth your beetcoin and BBQcoin put together.

[img ]http://blog.modernmechanix.com/mags/PopularMechanics/2-1950/rose_influence.jpg[/img]

First they ignore you, then they laugh at you...

[yefi]

How does getting out of DAO work? I heard today was the first day people could get out, but is everyone free to get out at the same time, or do some have to wait longer than others before they can dump DAO?

I believe you can burn your stake by proposing to fund with it an eth address that you own (although last I heard they wanted to put a moratorium on proposals due to security considerations). You can also obviously sell it at an exchange.

[kodtycoon]

For Allah (God) sake, check the BOLD PART !!

where did u get that quote?

[Fakhoury]

For Allah (God) sake, check the BOLD PART !!

where did u get that quote?

http://www.zerohedge.com/news/2016-05-28/bitcoin-soaring-unprecedented-burst-chinese-buying

[yefi]

Combined market cap of all cryptos just surpassed $10 billoin for the first time in over two years.  

[Jhanzo]

That 515 bitstamp price is fishy as hell. I won´t be storing coins of fiat there until things clear out.

Can anyone confirm withdrawals?

That said

CCMF

It's even worse on BTC-E.  They're stuck below $510.
And bitstamp touched $528 just a while ago.

[podyx]

For Allah (God) sake, check the BOLD PART !!

[glendall]

These are the magic days in trading you always look back fondly on (if you don't get hosed).

Yeehaw bitcoin!

[insert funny meme here]

Captain hindsight:  so it looks like what happened was DAO , with their dumb multi-tier ICO eth to dao ratio caused everyone to dump DAO when it first went up, causing huge downward pressure on ETH, so everyone wanted to get out of ETH and into BTC.

Thanks DAO!

How does getting out of DAO work? I heard today was the first day people could get out, but is everyone free to get out at the same time, or do some have to wait longer than others before they can dump DAO?

DAO nutshell:  it's almost more of an idea than a new coin.  It is a concept of an semi-autonomous corporation that is powered by ETH.  People buying into DAO control policy through voting (votes=number of DAO you have).  It had a whopping 130 million US of funding and locked up a whopping 13% of all ETH.

DAO as it relates to trading:  they did a dumb thing imho with initial coin offering. The ICO period was 30 days. For the first two weeks, 1 ETH got you 100 DAO.  The next two weeks, it went up to 1.5ETH to a 100 DAO.  This caused the totally foreseeable situation  of all those people who bought in the first week dumping immediatly when it went on sale today to secure the 50% profit against the late comers. Also, as you can exchange DAO for ETH, the two prices are now locked, and should always be around the same 1:100 ration (1 DA0 is 1/100th price of 1 ETH). This is causing huge downwards pressure on ETH and ETH holders see this so are pushing money into BTC to protect their wealth. This is feeding upon itself as this Bitcoin price boom continues.

Figured this all out over an hour or two of research last night. But I figure its sound. BTC is looking VERY bullish right now with this move away from ETH and the halving next month really I don't think we'll drop below <500 until the halving now, much more likely we'll see 600 this [long] weekend.