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

[zimmah]

Cool map bro!!! .. thx... already saved on my computer! This is GOLD!!! ... Iceland and Argentina are bonkers! Especially Argentina -3 in -5 .. wtf??  

And the East coast of China basically has the same daylight timing like Japan & South Korea but different hours, and I see also Russia there on the East coast that have +10.

But considering that... Russia probably has its own exchange in their own language. And the other big players on the block that can influence the market that are on that side of the world before them are New Zealand and Australia that have similar times!

Australia is kinda of funny with their 8 3/4 timezone though.

[Globb0]

Cool map bro!!! .. thx... already saved on my computer! This is GOLD!!! ... Iceland and Argentina are bonkers! Especially Argentina -3 in -5 .. wtf??  

And the East coast of China basically has the same daylight timing like Japan & South Korea but different hours, and I see also Russia there on the East coast that have +10.

But considering that... Russia probably has its own exchange in their own language. And the other big players on the block that can influence the market that are on that side of the world before them are New Zealand and Australia that have similar times!

Australia is kinda of funny with their 8 3/4 timezone though.

Australia is a bit weird. I remember one of my maths teachers telling me they have a different number for Pi in some states.

[Assmaster2000]

... hope a lot of those longs are in etherpoop too

Ether's totally f8cked.


Because the numeral 4 is totally unlucky for the Chinese numerologists

Owell, when I'm wrong, I'm wrong...

You guys can all make fun of me now

[DaRude]

..and longs a LOT lower. But it'll probably only go higher as speculation peaks before the halvening, hope a lot of those longs are in etherpoop too

True, but I doubt most are in etherpoop.  The thing is, most of the time big long positions are a recipe for disaster, which is why I was reluctant to jump into the breakout at first, but if speculators can correctly predict an influx of new money, then we are A-OK, and I think this has been happening.  People who were interested in bitcoin before, and have been following it a bit are deciding they don't want to miss the train, and jumping on.  The real bubble starts when we reach the people who haven't seriously considered investing yet.

The bull in me agrees, think(hope?) market is underestimating the effects and coverage of the halvening, expecting some wild swings during this month

Kinda scared me when longs went full retard and ate up all the swaps causing the daily rate on finex to jump to  above 0.5%. If it'd held that would squeeze a lot of them

the halving is already priced in

/s

seriously though i think we will see a serious rise 3 to 6 months after the halving.

It's no surprise that it's coming so in that sense it is priced in, the BIG question is how much trust do you have in ability of current BTC investors to price something accurately and not over or under estimate an event. I'm guessing there's 0% chance of that happening

[Torque]

Doncha just love that price settling in perfectly at 579.99999999 ? I mean, such a natural number to settle at, ami riiite??  Lol

And with supposedly soooo many different market makers on sooo many different exchanges, how's it possible to peg the price perfectly?  Guyzz???

I mean, it couldn't all be just one huge deep pocket whale with multiple exchange accounts in different countries?  Could it??  Guyzz???

trolololol

[savetherainforest]

Cool map bro!!! .. thx... already saved on my computer! This is GOLD!!! ... Iceland and Argentina are bonkers! Especially Argentina -3 in -5 .. wtf??  

And the East coast of China basically has the same daylight timing like Japan & South Korea but different hours, and I see also Russia there on the East coast that have +10.

But considering that... Russia probably has its own exchange in their own language. And the other big players on the block that can influence the market that are on that side of the world before them are New Zealand and Australia that have similar times!

Australia is kinda of funny with their 8 3/4 timezone though.

I think countries with longer daytime have an increased productivity and also a lower electricity consumption!

[Assmaster2000]

Doncha just love that price settling in perfectly at 579.99999999 ? I mean, such a natural number to settle at, ami riiite??  Lol

Which exchange are you looking at? The ones I'm watching never sat on that. And why would a manipulated market be any more likely to sit on that number?

[savetherainforest]

Doncha just love that price settling in perfectly at 579.99999999 ? I mean, such a natural number to settle at, ami riiite??  Lol

Which exchange are you looking at? The ones I'm watching never sat on that. And why would a manipulated market be any more likely to sit on that number?

I think he is spectating Bitstamp ... there is a little 100 coin wall at 579.99 made out of 4-5 orders...

But ... its is almost very sad that people sit and do nothing just because China dictates where the rain clouds go and where it should be drought. To be honest I'm in a small exchange where it is a similar trend... if the global market goes up.. I pull up my overpriced orders quick... and if it falls I just sell and buy back at a 20-40$ spread if its a 10$ - 15$ drop on the global markets.

The meaning of life for those places have their days numbered!

[JayJuanGee]

Sold my house this week. My mortgage was the last thing requiring me to have a bank account. Last mont my landlord started taking bitcoins for rent. He is happy.

Now to get all of that equity into bitcoins quickly.

I think I found a buyer for you...

In a period of time, I have been buying bitcoins only in cash and amassed over 800 btc, I keep them in several wallets. Now, I'm in a need of buying some stuff unfortunately you still cant buy with btc nowadays - car, wedding ceremony, paying for some travel trips, general spending in life etc. So I need to cash out at least 250 btc, but the problem is the taxes. Im willing to pay them, no issues, but I think they'll cause me some troubles as people may think this money comes from illegal operations, which is not true but I have no way to prove it.

https://np.reddit.com/r/Bitcoin/comments/4n1680/cashing_out_a_big_sum_of_btc_without_getting_in/

You need some reading comprehension lessons, StraightAArdvark, I mean Lambie....

Explained it to us how a house that has already been sold (Elwar's house)... is going to be sold again by Elwar?  There is a considerable level of logical incoherence in the content of your post.

Oh?  It appears that the purpose of your post was to bring up some anecdotal evidence that is somehow related to bitcoin and the holding of a large amount of bitcoin (O.k.  I am stretching to help you out here in order to identify some kind of a stretch of a connection in your post  ) in order to attempt to make some kind of parody concerning the behaviors of bitcoin users based on your described example of some kind of crazy person, no?


Back to Elwar's situation for a moment.  Isn't Elwar facing a different issue, and that is figuring out means in which to convert a large portion of his soon to be in-hand cash proceeds to bitcoin?   Not necessarily a bad problem to have, but not answered by your response. 

I personally don't buy into an all or nothing approach to investing into BTC, but I understand the dilemma and temptation in holding so much cash all at once and then wanting to get that likely depreciating cash into an appreciation status, which bitcoin is in a very decent position and good upward odds at the moment (even though there is no guarantee from this current price point). 

Let's say Elwar's proceeds from his house are anywhere between $10K and $100k?  how much to invest into BTC? 
Surely, he has got to account for his own particular circumstances in terms of how much BTC he already holds and his cash flow and his other investments and time line.

Maybe invest 80% of the proceeds within a short period of time in increments of $5k to $10k?  In recent months, I have found it to be quite useful to maintain a BTC portfolio that maintains both BTC and fiat, and I find a lot of stress relief and flexibility in that kind of approach, especially given the volatile nature of BTC, even though maintaining proportions in both BTC and fiat seems to cause some additional needs to pay attention to BTC prices in order to take advantage of price fluctuation opportunities.. which are likely going to continue to take place for years to come in bitcoinlandia.
 

[Ted E. Bare]

Bitcoin Block Reward Halving Countdown:
Only 32 more days!

[JayJuanGee]

There is nothing theoretically preventing the price from dropping and miners going bankrupt, inducing lower difficulty.  

Theoretically everything is possible but not always!

I'd even accept this argument over marcus's logic where miners can't go bankrupt.

Listen you lying, slippery little piece of shit ... no part of my argument ever said " ... miners can't go bankrupt..." ??

Do not try and put words in my mouth again. If you don't want to learn then just stfu and stop making the world a worse place for others who might want to learn.

BTC price can't fall below cost of production = miners always make profit
Miners make profit = miners won't go bankrupt

And seems like i'm not the only one who can't follow your logic, maybe we're all dumb here and can't learn from you? And one more name calling and on ignore you go, you'd be the first "legend"

Can't we all just get along?   Rodney king said that, no?    And, Britney Spears had her own rendition of that, too?

 I don't really see big differences in the speculations that have been going on regarding various miner incentives.  Surely some of those speculations make more sense than others, and we all should realize that sometimes miners have a complex set of incentives based on the fact that they are both engaging in businesses and speculating regarding future price.  Accordingly, sometimes their speculation may cause them to operate at a loss for a considerable amount of time, in a kind of gambling way, expecting that the speculation aspect of their BTC holdings is going to cause them to move from the red to the black (and with any gambling, such speculation may or may not pay off), but the bitcoin community as a whole will frequently benefit from such ongoing speculations and investments into bitcoin.

[JayJuanGee]

Gentlemen, the reason behind the recent bitcoin pump can finally be shared

Companies Are Stockpiling Bitcoin to Pay Off Cybercriminals

A small survey by corporate networking company Citrix indicates that some IT professionals are even stockpiling bitcoins so they can pay up quickly in the event ransomware strikes their network. Out of 250 IT and security workers at U.K. companies with more than 250 employees, a third said they were stockpiling the currency. A researcher at Cornell recently tweeted that the university’s treasurer created an account with the Bitcoin exchange Coinbase so as to be ready if ransomware struck.

https://www.technologyreview.com/s/601643/companies-are-stockpiling-bitcoin-to-pay-off-cybercriminals/

Yeah right.....   This is one thing that they can do, but probably a better thing that they can do is to spend some money to improve the security and vulnerabilities of their computer systems.

[StraightAArdvark]

Gentlemen, the reason behind the recent bitcoin pump can finally be shared

Companies Are Stockpiling Bitcoin to Pay Off Cybercriminals

A small survey by corporate networking company Citrix indicates that some IT professionals are even stockpiling bitcoins so they can pay up quickly in the event ransomware strikes their network. Out of 250 IT and security workers at U.K. companies with more than 250 employees, a third said they were stockpiling the currency. A researcher at Cornell recently tweeted that the university’s treasurer created an account with the Bitcoin exchange Coinbase so as to be ready if ransomware struck.

https://www.technologyreview.com/s/601643/companies-are-stockpiling-bitcoin-to-pay-off-cybercriminals/

Yeah right.....   This is one thing that they can do, but probably a better thing that they can do is to spend some money to improve the security and vulnerabilities of their computer systems.

I got an even better thing they could do: Call the jackbooted gubermint Jews, and explain how beetcoin criminals are stealing the shekels that rightfully belong in their secret Jew caves.
But hey, feel free call up those companies; share your valuable network security wisdomz.

[JayJuanGee]

Doncha just love that price settling in perfectly at 579.99999999 ? I mean, such a natural number to settle at, ami riiite??  Lol

And with supposedly soooo many different market makers on sooo many different exchanges, how's it possible to peg the price perfectly?  Guyzz???

I mean, it couldn't all be just one huge deep pocket whale with multiple exchange accounts in different countries?  Could it??  Guyzz???

trolololol

Yeah... these one manipulator theories are just ridiculous....


So fucking what, BTC prices happen to gravitate towards similar price points on various exchanges, that is hardly sufficient evidence of one manipulator or even a handful of less than 10 manipulators...

Descriptions of exactly similar prices is just a bullshit attempt at attempting to show a pattern to denigrate the importance of a variety of actors involved in pushing bitcoin prices both on and off exchanges... even though at the margins there may be some successful attempts for short periods of time to hold prices at very close levels for short periods of time.



Edit:  And, maybe I should not even waste time to respond to your nonsense misinformation when you sign "trolololol"

[JayJuanGee]

Gentlemen, the reason behind the recent bitcoin pump can finally be shared

Companies Are Stockpiling Bitcoin to Pay Off Cybercriminals

A small survey by corporate networking company Citrix indicates that some IT professionals are even stockpiling bitcoins so they can pay up quickly in the event ransomware strikes their network. Out of 250 IT and security workers at U.K. companies with more than 250 employees, a third said they were stockpiling the currency. A researcher at Cornell recently tweeted that the university’s treasurer created an account with the Bitcoin exchange Coinbase so as to be ready if ransomware struck.

https://www.technologyreview.com/s/601643/companies-are-stockpiling-bitcoin-to-pay-off-cybercriminals/

Yeah right.....   This is one thing that they can do, but probably a better thing that they can do is to spend some money to improve the security and vulnerabilities of their computer systems.

I got an even better thing they could do: Call the jackbooted gubermint Jews, and explain how beetcoin criminals are stealing the shekels that rightfully belong in their secret Jew caves.
But hey, feel free call up those companies; share your valuable network security wisdomz.

You cannot be serious to actually believe that one news article (like the one you provided) reflects any kind of accurate rendition of various approaches that actual UK companies with more than 250 employees are actually taking in respects to preparing for possible ransom attacks and preventative measures as well? 

And, surely, once they are in fact attacked, they may have to reconsider how they are going to handle the actual attack when it converts from hypothetical to actual.

[Elwar]

Sold my house this week. My mortgage was the last thing requiring me to have a bank account. Last mont my landlord started taking bitcoins for rent. He is happy.

Now to get all of that equity into bitcoins quickly.

I think I found a buyer for you...

In a period of time, I have been buying bitcoins only in cash and amassed over 800 btc, I keep them in several wallets. Now, I'm in a need of buying some stuff unfortunately you still cant buy with btc nowadays - car, wedding ceremony, paying for some travel trips, general spending in life etc. So I need to cash out at least 250 btc, but the problem is the taxes. Im willing to pay them, no issues, but I think they'll cause me some troubles as people may think this money comes from illegal operations, which is not true but I have no way to prove it.

https://np.reddit.com/r/Bitcoin/comments/4n1680/cashing_out_a_big_sum_of_btc_without_getting_in/

You need some reading comprehension lessons, StraightAArdvark, I mean Lambie....

Explained it to us how a house that has already been sold (Elwar's house)... is going to be sold again by Elwar?  There is a considerable level of logical incoherence in the content of your post.

Oh?  It appears that the purpose of your post was to bring up some anecdotal evidence that is somehow related to bitcoin and the holding of a large amount of bitcoin (O.k.  I am stretching to help you out here in order to identify some kind of a stretch of a connection in your post  ) in order to attempt to make some kind of parody concerning the behaviors of bitcoin users based on your described example of some kind of crazy person, no?


Back to Elwar's situation for a moment.  Isn't Elwar facing a different issue, and that is figuring out means in which to convert a large portion of his soon to be in-hand cash proceeds to bitcoin?   Not necessarily a bad problem to have, but not answered by your response. 

I personally don't buy into an all or nothing approach to investing into BTC, but I understand the dilemma and temptation in holding so much cash all at once and then wanting to get that likely depreciating cash into an appreciation status, which bitcoin is in a very decent position and good upward odds at the moment (even though there is no guarantee from this current price point). 

Let's say Elwar's proceeds from his house are anywhere between $10K and $100k?  how much to invest into BTC? 
Surely, he has got to account for his own particular circumstances in terms of how much BTC he already holds and his cash flow and his other investments and time line.

Maybe invest 80% of the proceeds within a short period of time in increments of $5k to $10k?  In recent months, I have found it to be quite useful to maintain a BTC portfolio that maintains both BTC and fiat, and I find a lot of stress relief and flexibility in that kind of approach, especially given the volatile nature of BTC, even though maintaining proportions in both BTC and fiat seems to cause some additional needs to pay attention to BTC prices in order to take advantage of price fluctuation opportunities.. which are likely going to continue to take place for years to come in bitcoinlandia.

Yep, looking at the guy's issue he has a lot of bitcoins but wants to get them converted to fiat without throwing up red flags of money laundering (aka, the government doesn't know every detail of where the money came from). In theory it would work out for us if I cashed out my house proceeds and gave him cash for the bitcoins. But a wire transfer from my government bank to his would throw up red flags.

I spoke with BitPay to see about an OTC trade but they recommended I use itbit. I've looked at their OTC platform and they only charge .1% which is reasonable.

I will have to tell my government bank to make sure to note that this large deposit is coming from a home sale so they can report to their masters about why I am moving so much money. I will have to inform them that my wire transfer is for the purchase of bitcoins so they can also report that as well. Wouldn't want the government to be uninformed about money flow.

I'll be converting 100% (about $150k) to bitcoins. I see no need to hang on to that much money in dollars. I have no near term plans to purchase a home or anything like that with it and I don't live in the US anyway so dollars are useless to me (other than the occasional visit to the Commissary).

[StraightAArdvark]

Gentlemen, the reason behind the recent bitcoin pump can finally be shared

Companies Are Stockpiling Bitcoin to Pay Off Cybercriminals

A small survey by corporate networking company Citrix indicates that some IT professionals are even stockpiling bitcoins so they can pay up quickly in the event ransomware strikes their network. Out of 250 IT and security workers at U.K. companies with more than 250 employees, a third said they were stockpiling the currency. A researcher at Cornell recently tweeted that the university’s treasurer created an account with the Bitcoin exchange Coinbase so as to be ready if ransomware struck.

https://www.technologyreview.com/s/601643/companies-are-stockpiling-bitcoin-to-pay-off-cybercriminals/

Yeah right.....   This is one thing that they can do, but probably a better thing that they can do is to spend some money to improve the security and vulnerabilities of their computer systems.

I got an even better thing they could do: Call the jackbooted gubermint Jews, and explain how beetcoin criminals are stealing the shekels that rightfully belong in their secret Jew caves.
But hey, feel free call up those companies; share your valuable network security wisdomz.

You cannot be serious to actually believe that one news article (like the one you provided) reflects any kind of accurate rendition of various approaches that actual UK companies with more than 250 employees are actually taking in respects to preparing for possible ransom attacks and preventative measures as well? 

And, surely, once they are in fact attacked, they may have to reconsider how they are going to handle the actual attack when it converts from hypothetical to actual.

A survey of 250 IT and security workers at U.K. companies with more than 250 employees. Either a statistically meaningful sample, or it isn't. My personal beliefs are neither here nor there. It's a survey, not even a formal study, I can't begin to guess how accurate it is.
If you feel that ransomware isn't a a real threat, you're mistaken. It's real.

[r0ach]

Ether

Keep posting about your Ethereum IPO scamcoin trying to trick people into buying it so I can post this every single time you do:

The Ethereum Paradox

http://bitcointalk.org/index.php?topic=1361602.0

Why proof of stake has no value:

Since Satoshi did not solve the Byzantine generals problem, this means confirmations are completely arbitrary.  So why are two confirmations more useful in Bitcoin (PoW) than one?  Because it's an open entropy system where over a period of time, it's either unlikely or statistically impossible for someone to maintain a monopoly on block validation when there's no upper limit to confirmations.

Recursive systems like proof of stake tend to permanently monopolize block validation by design, with no real fault or state recovery to fix it once it goes off the rails.  The act of introducing interest compounds this problem even more.  This makes a proof of stake confirmation essentially worthless due to being a bounded entropy system.

On top of being worthless, proof of stake is also a permissioned ledger.  The purpose of mining in Bitcoin is to create a permanent decentralized exchange peg, which thus results in a permissionless system.

[JayJuanGee]

Yep, looking at the guy's issue he has a lot of bitcoins but wants to get them converted to fiat without throwing up red flags of money laundering (aka, the government doesn't know every detail of where the money came from). In theory it would work out for us if I cashed out my house proceeds and gave him cash for the bitcoins. But a wire transfer from my government bank to his would throw up red flags.

Actually, it would be interesting if you were able to work out some kind of deal for an in-person cash transfer with a guy like that that maybe would take place over several weeks in order for you to purchase all of the $150k worth of bitcoin's at a price that would be agreeable to both of you (and likely you could be able to work out a deal that would be advantages to both of you)....   On the other hand, sometimes on a personal level you may not want to get involved in dealing with someone who appears to be engaging in legally questionable activities when you are not and that could result in too many problems for you, merely because you are attempting to get a better deal on your bitcoins.

I spoke with BitPay to see about an OTC trade but they recommended I use itbit. I've looked at their OTC platform and they only charge .1% which is reasonable.

I agree that .1% is pretty reasonable, especially comparing to other possible avenues.

I will have to tell my government bank to make sure to note that this large deposit is coming from a home sale so they can report to their masters about why I am moving so much money. I will have to inform them that my wire transfer is for the purchase of bitcoins so they can also report that as well. Wouldn't want the government to be uninformed about money flow.

Well, really it appears that at this point you have nothing really to hide or obscure, so for efficiency sake it is probably more prudent to take these kinds of measures in order that your money is less likely to get held up at any point in the processing (or to be assessed unreasonable and incorrect penalties in the future).

I'll be converting 100% (about $150k) to bitcoins. I see no need to hang on to that much money in dollars. I have no near term plans to purchase a home or anything like that with it and I don't live in the US anyway so dollars are useless to me (other than the occasional visit to the Commissary).

I already made my point regarding this, and certainly, each of us has to decide for ourselves regarding our level of allocation.  I used 80% as a reference point, but actually my current personal BTC/Fiat holdings (in terms of my bitcoin allocated funds) currently stands at 92% to 8%, but then I have other investments too, and my approximate total bitcoin proceedings remain a bit less than 30% of my total quasi-liquid assets which is quite a bit of a higher proportionally than historically I had allowed, and this growth in bitcoin allocation is largely based on bitcoin's more than 150% price appreciation in less than a year (if we consider the on average $230 price point in September 2015).

[JayJuanGee]

Gentlemen, the reason behind the recent bitcoin pump can finally be shared

Companies Are Stockpiling Bitcoin to Pay Off Cybercriminals

A small survey by corporate networking company Citrix indicates that some IT professionals are even stockpiling bitcoins so they can pay up quickly in the event ransomware strikes their network. Out of 250 IT and security workers at U.K. companies with more than 250 employees, a third said they were stockpiling the currency. A researcher at Cornell recently tweeted that the university’s treasurer created an account with the Bitcoin exchange Coinbase so as to be ready if ransomware struck.

https://www.technologyreview.com/s/601643/companies-are-stockpiling-bitcoin-to-pay-off-cybercriminals/

Yeah right.....   This is one thing that they can do, but probably a better thing that they can do is to spend some money to improve the security and vulnerabilities of their computer systems.

I got an even better thing they could do: Call the jackbooted gubermint Jews, and explain how beetcoin criminals are stealing the shekels that rightfully belong in their secret Jew caves.
But hey, feel free call up those companies; share your valuable network security wisdomz.

You cannot be serious to actually believe that one news article (like the one you provided) reflects any kind of accurate rendition of various approaches that actual UK companies with more than 250 employees are actually taking in respects to preparing for possible ransom attacks and preventative measures as well? 

And, surely, once they are in fact attacked, they may have to reconsider how they are going to handle the actual attack when it converts from hypothetical to actual.

A survey of 250 IT and security workers at U.K. companies with more than 250 employees. Either a statistically meaningful sample, or it isn't. My personal beliefs are neither here nor there. It's a survey, not even a formal study, I can't begin to guess how accurate it is.
If you feel that ransomware isn't a a real threat, you're mistaken. It's real.

Actually, newbie, I mean Lambie, I agree with you regarding these last points.