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

[Ted E. Bare]

Their volume has also increased after the bitfinex hack because people left that place. Claims that their volume is fake is considered a lame attempt of FUD in my book.

[HI-TEC99]

Most people who book profit too early in a bubble end up being tempted to buy back in as they watch incredulously at a seemingly impossible rise. Even the great Newton wasn't immune to this.

There must have been people who sold at $140 at the start of the 2013 rally because the price had quickly doubled up from $70. Afterwards the best chance of buying back in they would get is at about $200 over a year later. 

[Searing]

When do I sell?! I have lost the ability to figure anything out  
Life savings are stuck in there. No sleep tonight!

Well I decided to move/sell 3.6 btc via coinbase.....going on 2 hrs unconfirmed...ugly...ugly....
had standard fee included (or always was that way in the past) so....busy busy...the btc transaction elves they are...

says fine at coinbase end.in that is showed and is unconfirmed there too..but still annoying....may drag out a bit huh?

prepare for a dump in price before I can cash out..the crypto gods hate me (you have been warned..I broke the price rise)

(or so it seems most times I try to cover my butt somewhat on such rapid rises w/some buffer to $$$ on such a rise)

the "standard fee" is constantly going up if you didnt pay >10cents your gana be waiting a while.
in anycase, your efforts to feed the gigantic whale are much appreciated

hmm....got electric to pay and the last of my knc liguidation loan (3k) to pay on those miners (which officially roi with that payment) so happy that way
as to the btc xfer...I have blockchain hot wallet set to add fee...so I gather they don't adjust any and at a rate a couple weeks back? thus the wait?

damn never thought to check that

yeah had to feed some to the 'whale' to keep the hamsters in their "hamster wheels"  on the titans/fed/warm and happy...ugly little knc rodents they are

still hoarding the rest thou...I usually pay such with LTC but that is ugly at 0.00407 ltc to btc so holding off...eventually that will replace above in BTC

'twiddling thumbs' looking at unconfirmed on blockchain.info.....yea....I have a 'hobby'

[AlexGR]

something that one can observe very often:

if stamp moves either up or down that move is also made by the other exchanges, be it huobi, okcoin, finex, whatever

but if lets say huobi starts a big move and stamp doesnt follow, then thats it. huobi backs off and comes back again.

so stamp is the one that has to "confirm" any movement in china, if that doesnt happen then the move fails.

edit: thats why its so interesting at the moment. lets see if china has to back off or they have the power to drag stamp higher.

not really, china always controls the price.

nope, china controlling the price and being the reason for the rally is just the message that's perfect for the media and noobs.

That majority of volume of trading and ming is in china and you are trying to tell me that they dont influence the price?

Miners are just selling to cover their costs thats all. Doesnt matter if its chinese miners, swedish miners or american miners. They all behave the same.

Trading volume in china is known to be fake, mostly exchange-bots.

Its just a nice story that everyone likes to believe and media likes to sell newbies.

china's volume is likely highly exaggerated but its got to be somewhat real... its not hard to believe that the country with the largest population, largest amount of hashing power, its poeple know to be risk takers and have many large investors(who's buying up all the housing all over the world? the F'in chinese!) not to mention the nature of their fiat... would lead bitcoin.
plus there exchanges have suckered in poeple from all over the world to speculate on BTC with CNY because of 0% fees.

The chinese are pretty good at understanding resource scarcity (resources / population) because that's what they have been trained to do all their lives, whether it's food, real estate, etc etc.

If you live in a country with 1.4 billion people it's pretty easy to figure out what that means with only 16 million bitcoins around...

[notme]

Most people who book profit too early in a bubble end up being tempted to buy back in as they watch incredulously at a seemingly impossible rise. Even the great Newton wasn't immune to this.

There must have been people who sold at $140 at the start of the 2013 rally because the price had quickly doubled up from $70. Afterwards the best chance of buying back in they would get is at about $200 over a year later. 

I don't want to talk about how many I sold at $3 because the price had tripled.  I was going to be making huge profits on my GPU mining at $1, so there was no way $3 was sustainable.  

[Searing]

something that one can observe very often:

if stamp moves either up or down that move is also made by the other exchanges, be it huobi, okcoin, finex, whatever

but if lets say huobi starts a big move and stamp doesnt follow, then thats it. huobi backs off and comes back again.

so stamp is the one that has to "confirm" any movement in china, if that doesnt happen then the move fails.

edit: thats why its so interesting at the moment. lets see if china has to back off or they have the power to drag stamp higher.

not really, china always controls the price.

nope, china controlling the price and being the reason for the rally is just the message that's perfect for the media and noobs.

That majority of volume of trading and ming is in china and you are trying to tell me that they dont influence the price?

Miners are just selling to cover their costs thats all. Doesnt matter if its chinese miners, swedish miners or american miners. They all behave the same.

Trading volume in china is known to be fake, mostly exchange-bots.

Its just a nice story that everyone likes to believe and media likes to sell newbies.

china's volume is likely highly exaggerated but its got to be somewhat real... its not hard to believe that the country with the largest population, largest amount of hashing power, its poeple know to be risk takers and have many large investors(who's buying up all the housing all over the world? the F'in chinese!) not to mention the nature of their fiat... would lead bitcoin.
plus there exchanges have suckered in poeple from all over the world to speculate on BTC with CNY because of 0% fees.

The chinese are pretty good at understanding resource scarcity (resources / population) because that's what they have been trained to do all their lives, whether it's food, real estate, etc etc.

If you live in a country with 1.4 billion people it's pretty easy to figure out what that means with only 16 million bitcoins around...

The link below the guy claims that chinese are NOT using BTC to move $$ out in mass. There are still better methods....he said he tried a business doing so and it went no place...
so if he is correct we have seen nothing yet

https://cointelegraph.com/news/bitquant-founder-bitcoin-useless-for-dodging-china-capital-controls

[AlexGR]

When do I sell?! I have lost the ability to figure anything out  
Life savings are stuck in there. No sleep tonight!

Well I decided to move/sell 3.6 btc via coinbase.....going on 2 hrs unconfirmed...ugly...ugly....
had standard fee included (or always was that way in the past) so....busy busy...the btc transaction elves they are...

says fine at coinbase end.in that is showed and is unconfirmed there too..but still annoying....may drag out a bit huh?

prepare for a dump in price before I can cash out..the crypto gods hate me (you have been warned..I broke the price rise)

(or so it seems most times I try to cover my butt somewhat on such rapid rises w/some buffer to $$$ on such a rise)

Next time, check this:
https://bitcoinfees.21.co/

Coinbase, banks, etc will all take commissions that will be in the tens of dollars for a 4k USD tx, so it's a crime not to spend 10 extra cents in fees for first priority (hint: there is no standard fee). But I think it'll go upwards in terms of price so in that case you'll be glad it got delayed.

The link below the guy claims that chinese are NOT using BTC to move $$ out in mass. There are still better methods....he said he tried a business doing so and it went no place...
so if he is correct we have seen nothing yet

https://cointelegraph.com/news/bitquant-founder-bitcoin-useless-for-dodging-china-capital-controls

The capital control narrative always sucked. Using BTC as a vehicle does not create such an upward price pressure of 2x (600->1200) in a couple of months.

You buy one place, sell another place, and then loop the process - but the supply/demand equilibrium is ultimately not very affected because you used the BTCs to dump them.

On the other hand, using BTC as a diversified store of value and an investment, in light of a probable devaluation, makes sense.

[lightfoot]

“...It's the policy of the Chinese government to gradually get rid of currency controls and to liberalize the economy so that more things are done by the market. One way they do this is to wink at people and tell them that if they do illegal thing X, they won't end up in jail, and see what happens. If the world doesn't blow up they make it legal.”

Greatest quote in a while....

[Searing]

When do I sell?! I have lost the ability to figure anything out  
Life savings are stuck in there. No sleep tonight!

Well I decided to move/sell 3.6 btc via coinbase.....going on 2 hrs unconfirmed...ugly...ugly....
had standard fee included (or always was that way in the past) so....busy busy...the btc transaction elves they are...

says fine at coinbase end.in that is showed and is unconfirmed there too..but still annoying....may drag out a bit huh?

prepare for a dump in price before I can cash out..the crypto gods hate me (you have been warned..I broke the price rise)

(or so it seems most times I try to cover my butt somewhat on such rapid rises w/some buffer to $$$ on such a rise)

Next time, check this:
https://bitcoinfees.21.co/

Coinbase, banks, etc will all take commissions that will be in the tens of dollars for a 4k USD tx, so it's a crime not to spend 10 extra cents in fees for first priority (hint: there is no standard fee). But I think it'll go upwards in terms of price so in that case you'll be glad it got delayed.

Yeah I hold btc or mostly move LTC for this kinda electric/rent and hamster feed for the titan gerbils in their treadmills.....but LTC is so ugly ratio wise went this route

I suppose I should get off my ass and not just depend on www.shapeshift.io and www.cointbase.com anymore if I'm moving beyond dust or buying dust
on coinbase.....(again groan...more stuff to do.....)

good to know that may be the future to do in order to feed the knc titan hamsters and keep them happy on rent/elec etc





YES...suddenly after 2.75 hours it has confirmed.....wheee....... (hamsters singing in basement from hamster wheels) This song: https://www.youtube.com/watch?v=1qN72LEQnaU Hamster Dance Song. (hey it covers up the fan noise on 20 cubes)

NOW back on topic...I should start a thread on IF when I move this BTC after confirmation the price will be going up or dumping because the crypto gods hate me.
UP please would make for a great change after 2 years. (still scar'd from 2014 dump in price ..shudder)

[HI-TEC99]

Most people who book profit too early in a bubble end up being tempted to buy back in as they watch incredulously at a seemingly impossible rise. Even the great Newton wasn't immune to this.

There must have been people who sold at $140 at the start of the 2013 rally because the price had quickly doubled up from $70. Afterwards the best chance of buying back in they would get is at about $200 over a year later. 

I don't want to talk about how many I sold at $3 because the price had tripled.  I was going to be making huge profits on my GPU mining at $1, so there was no way $3 was sustainable.  

I heard about Bitcoin when you could CPU mine it, but thought it would never catch on. There must be thousands of people who missed out on a slice of the pie in the early days. On the positive side we might be like the early adopters in five years from now. People could be talking about milli Bitcoins the way we talk about Bitcoins by then.

[Searing]

Most people who book profit too early in a bubble end up being tempted to buy back in as they watch incredulously at a seemingly impossible rise. Even the great Newton wasn't immune to this.

There must have been people who sold at $140 at the start of the 2013 rally because the price had quickly doubled up from $70. Afterwards the best chance of buying back in they would get is at about $200 over a year later. 

I don't want to talk about how many I sold at $3 because the price had tripled.  I was going to be making huge profits on my GPU mining at $1, so there was no way $3 was sustainable.  

I heard about Bitcoin when you could CPU mine it, but thought it would never catch on. There must be thousands of people who missed out on a slice of the pie in the early days. On the positive side we might be like the early adopters in five years from now. People could be talking about milli Bitcoins the way we talk about Bitcoins by then.

had a buddy at NASA died in 2005 ..found his co-workers with NASA handles on bitcoinwhaletalk when it was up on teamspeak..they ALL got into BTC early...and retired ..hundreds of
millions each ...thought it would be more fun the folding..me I could not hear them too well on the details..was smashing head into keyboard....I had no one to send me a memo...too
bad Qazz would have loved this stuff RIP.

[HyphyBTC]

My guess is all those shorts start liquidating on Finex above $1150, so they are trying their hardest to keep it under. I will be ready for fireworks once its breaks.

Confirmed. They keep fighting it.

[Paashaas]

Next upswing will crush the last ATH and the gold price in one sweep, it will be a historic event.

[Searing]

Next upswing will crush the last ATH and the gold price in one sweep, it will be a historic event.

What was the ATH from Gox....I get different answers...I got a thread on this theme on why I want the ATH crushed to stop the FUD at least that far
back for ammo....

https://bitcointalk.org/index.php?topic=1736307.msg17370485#msg17370485

Doing as you say killing the ATH and GOLD price at the same time would be epic!

[Killerpotleaf]

https://www.youtube.com/watch?v=JZDKbRWGqTw
PUT YOUR MOON BOOTS ON!

[JimboToronto]

When do I sell?! I have lost the ability to figure anything out  
Life savings are stuck in there. No sleep tonight!

Stuck? Wouldn't you rather have your life savings invested in an appreciating asset like Bitcoin than a depreciating asset like fiat.

Of course it's best to diversify your holdings (land, art, maybe some small amount of stocks, precious metals, etc.) but the largest part is probably best kept in Bitcoin.

[HI-TEC99]

Next upswing will crush the last ATH and the gold price in one sweep, it will be a historic event.

People couldn't believe it hit $1000 in 2013. Now they've had a few years to get used to the concept it might reach another price people can't believe. $10000 doesn't sound unreasonable. A 10x pump is a modest pump by Bitcoin's historical standards.

[simmo77]

bfx over 1100 alrdy, and there are not much coins left on the sell side

16K shorts still need to close!

Might be a bit late with this... but... https://twitter.com/whalepool/status/816698939445485568

[WoJJ78]

congrats on your winnings BTC holders 

[Killerpotleaf]