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

[gembitz]

this seems interesting: http://www.coindesk.com/bitcoin-investor-roger-ver-to-push-for-okcoin-liquidation-in-court/

If a court liquidates OKccoin before the end of its withdrawal freeze the Bitcoins on the exchange could get locked up indefinitely, until a receiver shares them out. That would help maintain the supply/demand imbalance on other exchanges. There's not enough coins to satisfy demand as it is.

Not to mention, I have a sinking suspicion (as others have noted too) that some of the Chinese exchanges could be insolvent, might have been for a long time now.  They've probably gotten away with naked shorting for a while now.

If the PBoC ever starts to audit them, they might be in trouble.

^talks begin re: bailout of insolvent bitcoin exchanges in mainland china :-D

[r0ach]

Just about all these exchanges are MtGoxs.  Huobi and their constantly running algorithm that moves the price around wherever it wants at will is even more shady than MtGox was.

[d5000]

Markets at this moment don't seem to agree on a price or even price evolution:

Huobi & OKCoin - first going down, now up to the moon.
Bitstamp - stable just under 1000€
Bitfinex - slightly bullish with continuous increase - 1000 € in sight now
BTCC - very bullish

Seems the Chinese withdrawal restrictions are making prices diverge because arbitrage isn't that easy now.

[HanvanBitcoin]

About to hit €1.000,- on Kraken!!   Can't stop the feeling! Just dance, dance, dance girl!
https://www.youtube.com/watch?v=ru0K8uYEZWw

[JimboToronto]

Bitfinex - slightly bullish with continuous increase - 1000 € in sight now

It actually touched $1067.4USD on Finex a little while ago. That's 1004.85EUR.

Of course it bounced down from there, but not too far.

[jackjack]

haha, funny picture.
everything is a matter of perspective! based on your previous comments i am sure you meant this as to be seen from left to right but the "car" seems to be heading down if you look at it from right to left

Actually I saw the car was facing down, I posted it right after the max at $1065, I just found it funny
I'd like to try to make useful posts but being serious or posting facts doesn't seem to be the mood here

[d5000]

It actually touched $1067.4USD on Finex a little while ago. That's 1004.85EUR.
Of course it bounced down from there, but not too far.

You are actually right. The Euro went down in the last 3 hours from 1.067 to 1.062 USD. But when Finex hitt 1067 USD the EUR already was below 1.065. But it's very possible that the bounce was related to the mBTC/Euro parity  (looks cooler this way, I think ).

I think this time it looks definitely like the  EUR/mBTC barrier will be broken. Demand seems very strong - even on Chinese exchanges, where people would have to wait almost a month to withdraw their BTC. 

[Gillette]

We are heading to new ATH!

[Karartma1]

IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges?
The timing can't be better:
1. First fake volumes (no idea how many coins they handled)
2. Fees got introduced (volume drop by 90%)
3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins)
4. Use your imagination

i get it know! PBoC wants the exchanges to pump the price! the exchanges went steaming ahead with no real bitcoins. PBoC caught them with their hands in the (empty) cookie jar. now they have 4 weeks time to actually GET THOSE coins, which means they need to buy them on exchanges. that is why we see the buying pressure all around the globe. on top of that they try to buy on their own exchanges, but of course they try to buy with a discount in their own shops...

moon ahead! /tinfoil hat off

I’m afraid you got that right. I'm not sure whether or not is the PBOC which wants the pump but that's it. If that's the case I would not be surprised to see new Mt.Goxes

[Ted E. Bare]

What happened with r0ach? Wasn't he very bullish on bitcoin last year?

[willope]

IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges?
The timing can't be better:
1. First fake volumes (no idea how many coins they handled)
2. Fees got introduced (volume drop by 90%)
3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins)
4. Use your imagination

i get it know! PBoC wants the exchanges to pump the price! the exchanges went steaming ahead with no real bitcoins. PBoC caught them with their hands in the (empty) cookie jar. now they have 4 weeks time to actually GET THOSE coins, which means they need to buy them on exchanges. that is why we see the buying pressure all around the globe. on top of that they try to buy on their own exchanges, but of course they try to buy with a discount in their own shops...

moon ahead! /tinfoil hat off

I’m afraid you got that right. I'm not sure whether or not is the PBOC which wants the pump but that's it. If that's the case I would not be surprised to see new Mt.Goxes

It seems they were (are) working with fractional reserve. Now all of those fake bitcoins went back to where they belong: they doesn't exist.
If there are only real bitcoins on the market, having the same demand price has to go up.
And if they are really buying even better.
I have just one concern. What if huobi and okcoin have more fake bitcoins than the total amount of real offer in the market?

[gentlemand]

What happened with r0ach? Wasn't he very bullish on bitcoin last year?

He got kicked out of his synagogue for inappropriate behaviour. He hasn't taken it well.

[Gillette]

What happened with r0ach? Wasn't he very bullish on bitcoin last year?

He`s a bastard Russian racist. He is fudding BTC for months now. 

[Ted E. Bare]

Haha, makes sense. Thanks guys!

[machasm]

What happened with r0ach? Wasn't he very bullish on bitcoin last year?

He got kicked out of his synagogue for inappropriate behaviour. He hasn't taken it well.

I laughed out loud on that one!

[Chef Ramsay]

What happened with r0ach? Wasn't he very bullish on bitcoin last year?

He got kicked out of his synagogue for inappropriate behaviour. He hasn't taken it well.

I laughed out loud on that one!

He obviously sold all of his coins and went all in on silver expecting it to moon after Trump started his trade/currency wars with China. I have my fair share of silver but my sentiment for Bitcoin is way higher. Silver is merely for bartering if the shtf.

[r0ach]

What happened with r0ach? Wasn't he very bullish on bitcoin last year?

I still own bitcoin, but there is no possible endgame for Bitcoin whatsoever where having bitcoin become the world reserve currency would be better for humanity than using gold and silver.  Kaczsynky was right and increasing technology is always inherently anti-freedom.  Bitcoin isn't even fungible and all transactions are traced for fucks sake.  It's already an Orwellian system by default, and it's inevitable the entire thing from top to bottom will be co-opted by govt the further it goes.

Like I said before, government is going to create a fixed address alias system wrapper that goes around bitcoin and force you to use it or be considered a launderer.  You think you've defeated "the man" (or jew as the case may be) by using bitcoin, but the jokes on you if you think that's the case.  After they get you into that system, then they'll turn the entire thing keynesian with infinite coin count.  Bitcoin probably already needs to turn inflationary to defeat it's newest discovered attack vector in the first place.

The end result by herding everyone into bitcoin will be nothing more than bankers accomplishing their cash ban with the added bonus of full surveillance police state built into it and you willingly accepted it.  Deep down, everybody fucking knows what I'm saying is true, but they're in it for the short term profit gains.  If you could play god and invest X amount of money into silver or bitcoin then physically delete the one you didn't pick from time and space afterwards, there is no reason whatsoever to choose bitcoin if you value having some type of freedom in the long term.

He obviously sold all of his coins and went all in on silver expecting it to moon after Trump started his trade/currency wars with China. I have my fair share of silver but my sentiment for Bitcoin is way higher. Silver is merely for bartering if the shtf.

No, I still obviously have a lot of BTC or I wouldn't be posting here.

[r0ach]

Of course mentioning a non-fungible currency where every transaction is traced with white and black lists - making it a permissioned ledger - is not going to lead everyone to the promised land of economic freedom and sound money is going "full retard".  It can possibly give you an end to debt based currency in the short term, but I believe govt will co-opt it and turn it into infinite coin count anyway.  Like I said before, the newest attack vectors point to the fact that bitcoin will likely have to turn inflationary in the first place to defeat them.

Then after they put their alias system wrapper around bitcoin and force you to use it, they'll probably use that to auto-deduct taxes from you in some manner (at the 90% rate for people like Roger Ver), so you're just trading debt based currency for "confiscate everything" currency.  We might be able to make money in the short term, though.  Just don't forget to use the profits to buy gold and silver - the only known, real decentralized currencies on earth and base of Exter's pyramid.

[Holliday]

Bitcoin isn't even fungible and all transactions are traced for fucks sake.

Then why has no one been caught for all these high profile thefts / hacks?

Everyone is always like, "Oh you can trace coinz," but I've never seen anything tangible come from it.

Apparently applying block chain tracing methods is more difficult in practice than in theory.

Like I said before, government is going to create a fixed address alias system wrapper that goes around bitcoin and force you to use it or be considered a launderer.

You're a moron if you think I'm going to install some government version of Bitcoin or abide by any fixed address program. Give me a break. They can outlaw PMs just as easily as they can outlaw Bitcoin, but I know which one is far easier for me to hide from them (especially if I need to move from one location to another). Good luck carrying your life savings to another country when it's literally weighed down in AG.

[r0ach]

Then why has no one been caught for all these high profile thefts / hacks?

Why would they be?  Mixers and things like monero (just a built in mixer on-chain) aren't illegal...yet.  There will come a time when using a mixer will be a conviction for laundering by default and all transactions will be to and from fixed address alias systems.  Everything outside of that will be considered criminal and the coins will be blacklisted.  The side effect of a non-fungible currency = permissioned ledger.  You're not getting around governments co-opting any digital currency system made.  Even Satoshi says the same thing via two quotes:  "bitcoin does not solve political problems" and "bitcoin will buy us only a few years".