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

[Dafar]

While Gemini charges lower fees than many of its competitors and offers big discounts to clients moving large volumes, it's not free. (As an aside, the supposed free flow of money is one of the great myths of the Bitcoin world, since most exchanges charge around 5 percent of the value to either buy or sell Bitcoin.)

That's the exchange's decision to charge a 5% fee, not a fault of bitcoin. Bitcoin is money, any fluctuations when converting one currency to another currency, like USD -> BTC, will have some variance and it's not the fault of bitcoin either. If everyone earned bitcoin, and all vendors accepted bitcoin the world would be a better place -- fact. (Assuming bitcoin has scaled to the point where it can handle all the transactions)

[bitebits]

Since it is so dead quiet in here (that would have been a lot of Chartbuddy's in a row), I share this article I coincidentally ran into. Think it is well written:

http://moneymorning.com/2016/09/09/why-the-first-bitcoin-etf-could-double-the-price-of-bitcoin/

[Karartma1]

Since it is so dead quiet in here (that would have been a lot a Chartbuddy's in a row), I share this article I coincidentally ran into. Think it is well written:

http://moneymorning.com/2016/09/09/why-the-first-bitcoin-etf-could-double-the-price-of-bitcoin/

While it's still possible the SEC will reject the Winklevoss Bitcoin ETF, it's far more likely it will be approved. And the SEC must rule one way or the other by March 2017.

So once the Winklevoss Bitcoin Trust launches, it will need to purchase Bitcoin to back the shares it has sold to investors. This fresh inflow of capital will kick the price of Bitcoin higher.

This is music now 
And, by the way, interesting read. Lots of useful information which is hard to find in a Bitcoin-related article these days

[dwdoc]

Mooning today 

[European Central Bank]

While it's still possible the SEC will reject the Winklevoss Bitcoin ETF, it's far more likely it will be approved.

does this journo live in the mind of sec officials? it's gonna be amazing if it is approved but most people writing about it suffer from confirmation bias.

it's a lot less problematic for them to turn it down. the winklevosses ain't exactly finance royalty and many vested interests would prefer it if the idea of an etf went away and didn't come back.

I hope there's the decision for the positive but the people in charge of it are gonna be objective at best, biased against it at worst.

[yefi]

Yesterday, about 18 hours ago, I did a BTC buying transaction of about 3.5 BTC on the chain.  That was around the peak of the mempool backup.

The guy selling the 3.5 BTC to me was using Mycelium and I was using the Blockchain.info wallet.  I use my local bitcoins advert to establish our agreed to buying price, and the Localbitcoins website gave a warning that  "due to an ongoing attack on the network"  transactions may take more than 3 hours to go through (even though they will show up immediately as "pending").  

Since I had already done several transaction with the guy selling me the 3.5 coins, I felt that the likely delay in confirmation was not a major risk problem for me in terms of the likelihood that he would attempt to pull shenanigans on me, such as attempting a double spend.

He used a fee of about .00015BTC (about $.095 - which is almost 10 cents), and the transaction took 83 minutes for the first confirmation.  I did not watch the transaction, so I am not sure how long it took for the next 2 confirmations and for the coins to become available for my usage.  Usually the first confirmation takes the longest, and the second two confirmations will usually go through within less than 30 minutes from the time of the first confirmation.

Is that an off-site transaction to avoid fees? Normally the seller has to have funds in his escrow wallet before he can place an ad. The transfer would then be internally on LBC's side, and it would be the withdrawal to your own personal wallet that would be delayed.

[yefi]

Interesting fact about Ayoade is that he claims to be computer illiterate  

edit: and in other news, UP, UP, UP!

[Fatman3001]

Interesting fact about Ayoade is that he claims to be computer illiterate  

edit: and in other news, UP, UP, UP!

And Norwegian!

edit: yeah, UP, UP, UP!

[toknormal]

Whats happening ?

Why is BTC skyrocketting ?

[Patel]

Whats happening ?

Why is BTC skyrocketting ?

segwit approved by sec   LOL

[abercrombie]

it's time... 

[petahashminer]

has passed


666.66

[Meuh6879]

MOOOAAARRR !

[GreekGeek]

Hey guys any news?
or just a random panic-buying-ALL-the-coinz!!!!


Stamp seems hesitant to follow...  

[European Central Bank]

does this mean this thread is coming back to life for a little bit? maybe we need to nominate a proxy adam.

there's some huge gaps opening up between the exchanges, specifically bitfinex and everyone else. their books must be super thin.

[Meuh6879]

[toknormal]

5180 is the level to break.

If it gets through that then we really are on a planetary mission that breaks 3 years of correcting.

Must be all the Chinese devaluations.

[Meuh6879]

[Ted E. Bare]

Bitcoin is the best thing in my life.

[Meuh6879]