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

[ImI]

Just me or is the forum getting ddos?

someone seems stuck in spring 2013. "selloff" combined with ddos.

[Torque]

I guess no one here is bothering to correlate the price swings with the wild fluctuations in hashrate.

Miners now playing with hashrate to induce volatility, lol.  Must mean there aren't any real traders in the market.

[JimboToronto]

Good morning Bitcoinland.

Dipped a dime, I see... all the way down to $631 on Bitcoinaverage.

Overall, things are looking pretty good though.

[DARKHOLDER]

THIS drop is reaction to those news..https://bitconnect.co/bitcoin-news/300/european-central-bank-wants-eu-lawmakers-to-attack-bitcoin/

[JayJuanGee]

I guess no one here is bothering to correlate the price swings with the wild fluctuations in hashrate.

Miners now playing with hashrate to induce volatility, lol.  Must mean there aren't any real traders in the market.

Yeah... go ahead and attempt to correlate price and hashrate, I doubt you are going to find much, if any correlation, and if you do, it may likely be called coincidence, rather than correlation.

Furthermore, you are back on this theme describing few traders, which has been one of your past themes, which remains a kind of ridiculousness that seems to be loosely correlated with facts. 

Sure trade volume remains fairly low in recent times which causes relatively easier abilities for any bigger players to manipulate BTC prices through trade, but those kind of facts are fairly unlikely to lead reasonable conspiracy inferences of miner manipulation..            It makes very little sense logically that miners are the actual supposed manipulators.

[Torque]

I guess no one here is bothering to correlate the price swings with the wild fluctuations in hashrate.

Miners now playing with hashrate to induce volatility, lol.  Must mean there aren't any real traders in the market.

Yeah... go ahead and attempt to correlate price and hashrate, I doubt you are going to find much, if any correlation, and if you do, it may likely be called coincidence, rather than correlation.

Furthermore, you are back on this theme describing few traders, which has been one of your past themes, which remains a kind of ridiculousness that seems to be loosely correlated with facts.  

Sure trade volume remains fairly low in recent times which causes relatively easier abilities for any bigger players to manipulate BTC prices through trade, but those kind of facts are fairly unlikely to lead reasonable conspiracy inferences of miner manipulation..          It makes very little sense logically that miners are the actual supposed manipulators.

Actually JJG, the onus is on you to provide proof that Miners *aren't* manipulating the market, aka the actual market makers.

Prove it. With facts.  

I'll wait right here...   

[becoin]

THIS drop is reaction to those news..https://bitconnect.co/bitcoin-news/300/european-central-bank-wants-eu-lawmakers-to-attack-bitcoin/

If that is the case some people were fooled to sell their bitcoins. Smart people are buying at every drop.

[European Central Bank]

THIS drop is reaction to those news..https://bitconnect.co/bitcoin-news/300/european-central-bank-wants-eu-lawmakers-to-attack-bitcoin/

why? the news is old. the measures for kyc/aml and so on are already in place and apply. and the only thing they're saying is that they don't want to promote it. seems like business as usual to me.

[sniveling]

THIS drop is reaction to those news..https://bitconnect.co/bitcoin-news/300/european-central-bank-wants-eu-lawmakers-to-attack-bitcoin/

why? the news is old. the measures for kyc/aml and so on are already in place and apply. and the only thing they're saying is that they don't want to promote it. seems like business as usual to me.

It doesn't matter what the European Central Bank's stance on Bitcoin is. There aren't enough big exchanges in Europe to make any difference. There's only Bitstamp, and that's a shadow of its former self since the hack. The biggest USD exchange is still Bitfinex, and that doesn't care about the EU.

[European Central Bank]

It doesn't matter what the European Central Bank's stance on Bitcoin is. There aren't enough big exchanges in Europe to make any difference. There's only Bitstamp, and that's a shadow of its former self since the hack. The biggest USD exchange is still Bitfinex, and that doesn't care about the EU.

kraken? plenty of people use that too. plus bitcoin.de. plus bitonic. plus localbitcoins which is already gone in Germany because of regulations.

bitfinex seems very willing to bow to American state level legislation. if something European comes in then expect them to do the same.

[Meuh6879]

Imo, purchasing a Trezor shoud be a obligation for every long-term bitcoiner.

Only me and bitcoin core can manage my private key ...

[Meuh6879]

[Meuh6879]

When wallstreet ... validate the BTC buying on long term : https://twitter.com/BambouClub/status/786909432542138368

[Meuh6879]

When the things happend ...

https://twitter.com/kyletorpey/status/787166859564953600

[JayJuanGee]

I guess no one here is bothering to correlate the price swings with the wild fluctuations in hashrate.

Miners now playing with hashrate to induce volatility, lol.  Must mean there aren't any real traders in the market.

Yeah... go ahead and attempt to correlate price and hashrate, I doubt you are going to find much, if any correlation, and if you do, it may likely be called coincidence, rather than correlation.

Furthermore, you are back on this theme describing few traders, which has been one of your past themes, which remains a kind of ridiculousness that seems to be loosely correlated with facts.  

Sure trade volume remains fairly low in recent times which causes relatively easier abilities for any bigger players to manipulate BTC prices through trade, but those kind of facts are fairly unlikely to lead reasonable conspiracy inferences of miner manipulation..          It makes very little sense logically that miners are the actual supposed manipulators.

Actually JJG, the onus is on you to provide proof that Miners *aren't* manipulating the market, aka the actual market makers.

Prove it. With facts.  

I'll wait right here...   

Actually, you are full of it.


I think that logically it should be fairly clear that you are the one who is making the extraordinary claim.

And, have you ever heard of the expression, "extraordinary claims require extraordinary proof"?

Whether you are being disingenuous, when you attempt to shift the burden onto me or you are dumb is a bit of a question.  At this point, I personally doubt that you are actually dumb, so it seems that it is more likely that you are being disingenuous with your nonsensical assertion that I have a burden to show that miners are not manipulating BTC prices, etc.

Also, in the end, to the extent that there is actual manipulation going on in the bitcoin space (prices specifically), does it really make much of a difference concerning what we are going to do based on who is doing it, and why?   

Regarding BTC prices, and our concerns about price directions, yeah, each of us are going to account for a variety of factors concerning how and when to allocate our investment into bitcoin, if at all.

Sure, reasons for price manipulation could matter in some kinds of outlier scenarios, but really these alleged specifics concerning attempting to identify sources of manipulation (specifically identifying miners) and to draw fringe conclusions seems to harp on pie in the sky fantasy land speculation and less probable scenarios rather than any kind of central material and important dynamic in bitcoin price dynamics that cannot be accommodated based on more important considerations.

[Gyrsur]

Is the network under a spam attack or something like that? the unconfirmed transactions keep going up.

https://blockchain.info/unconfirmed-transactions

last block is 30 min old. it's called variance.

and this is obvious also not the answer to the scaling question to lift up the blocksize limit. I don't want to wait 30 min for the first confirmation if I pay something in Bitcoin.

[Gyrsur]

Is the network under a spam attack or something like that? the unconfirmed transactions keep going up.

https://blockchain.info/unconfirmed-transactions

last block is 30 min old. it's called variance.

and this is obvious also not the answer to the scaling question to lift up the blocksize limit. I don't want to wait 30 min for the first cinfirmation if I pay something in Bitcoin.

Well I have been waiting 3 hours+ for my transaction first confirmation  

yes because it is on-chain with bad luck.

but now 40 min. maybe we lost connection to china because of the great (fire-)wall?

so maybe the forked for themselve to 2MB?  

or Ethereum strikes back?

[Meuh6879]

oh no, we don't ...

[harrymmmm]

Imo, purchasing a Trezor shoud be a obligation for every long-term bitcoiner.

Only me and bitcoin core can manage my private key ...

I have to agree with paashaas here.

When my trezor arrived all the cold storage worries went out the door.
The worries about the pc being keylogged vanished.
It now even handles keys and processing for password management on my various subscription sites, and acts as a 2fa device completely controlled by me.

Very nice and well worth the $100.

I do wish the site had a warrant canary tho, so i could have more trust in the firmware. but hey, it's better than anything else out there.

[old fart]

Imo, purchasing a Trezor shoud be a obligation for every long-term bitcoiner.

Only me and bitcoin core can manage my private key ...

I have to agree with paashaas here.

When my trezor arrived all the cold storage worries went out the door.
The worries about the pc being keylogged vanished.
It now even handles keys and processing for password management on my various subscription sites, and acts as a 2fa device completely controlled by me.

Very nice and well worth the $100.

I do wish the site had a warrant canary tho, so i could have more trust in the firmware. but hey, it's better than anything else out there.

Is the private key stored on flash memory inside the trezor? What happens if the trezor's memory becomes faulty like a flash drive's eventually does? Do you lose your bitcoins unless you have backed up your private key? I don't trust any one storage system with my private keys because they all become faulty eventually.