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

[willope]

What is up with the gold parity and Gox ATH and so?
Just asking.

[1714859357]

1714859357

[HI-TEC99]

*snip*

There's that Stamp bidwall again. LOL

This time it barely lasted seconds.

It is most certainly a strange $1+m being moved up and down. My theory is that if the SEC is planning on accepting the ETF, they would be buying Bitcoin up to the approval itself.

A week ago I was speculating they might be buying OTC Bitcoins on itBit, and that might be the reason it suddenly took over as volume leader during a pump. Its OTC market only deals in trades of over 100 bitcoins, and it's more regulated than most exchanges, which would suit the twins.

*snip*

I noticed bitcoinity showed itBit as the USD volume leader during the pump, although its dropped to third place now. Bitcoin.com claims itBit makes its OTC trades publicly view-able, so I suspect bitcoinity includes its OTC trades in the volume calculations.

Was the fact itBit suddenly took over as volume leader due to somebody buying OTC coins for the ETF?


https://news.bitcoin.com/itbit-tradeblock-blockchains-big-data/

ItBit’s collaboration with TradeBlock will enable its clientele and the public to view its Over The Counter trading data, which will give more perspective and resolution to the exchanges OTC transactions.

[cmacwiz]

What is up with the gold parity and Gox ATH and so?
Just asking.

Gox ATH was an imaginary ceiling, and breaking it is closure. Any holder of bitcoin EVER is now in the green.

Now 1 arbitrary unit of account (a BTC), in a decentralized protocol thought up and developed from nothing more than an idea, is worth more than an oz of GOLD... In <10 years.

Naysayers have never been grasping at straws like now.

[edgar]

None of my friends have mentioned bitcoin to me recently.

Now...these are the friends I was boring back in 2013/14 about it and when the shit hit the fan and it dropped to $200 I bought them all up. My friends know this.

This has all happened and not one of my mates has asked or text me about bitcoin.

Is this because:-

A. They all know the price now and don't want to talk about it as they feel sick knowing they laughed and made jokes.

B. They haven't even heard the news as the media have hardly reported on it.

C. They hate me and never liked me in the first place bitcoin or no bitcoin.

haha same here. I entered in bitcoin world in nov. 2013, and bought my first bitcoin on the top. Ande then lost in cuz I've been goxed.
But then I was more cautious, bought almost all of my stash at 200$.
Now all of my friends and family regrets that they didn't invested back then.
And some are asking me to invest their money now   And I'm like: Really do you want to be the fool who buys on the top and sells at the bottom? And they still want to invest...

Fam!!

[TaurusBit]

What is up with the gold parity and Gox ATH and so?
Just asking.

Gox ATH was an imaginary ceiling, and breaking it is closure. Any holder of bitcoin EVER is now in the green.

Now 1 arbitrary unit of account (a BTC), in a decentralized protocol thought up and developed from nothing more than an idea, is worth more than an oz of GOLD... In <10 years.

Naysayers have never been grasping at straws like now.

[r0ach]

Now 1 arbitrary unit of account (a BTC), in a decentralized protocol thought up and developed from nothing more than an idea, is worth more than an oz of GOLD... In <10 years.

It's kind of a meaningless metric when the # of bitcoin units is completely arbitrary and could have just as easily been 42 million.  I actually have the opposite view myself.  When I see the bitcoin market cap starting to creep up rivaling that of silver, it makes me want to sell bitcoin for silver because I do not believe any rational universe would have the price of bitcoin over metal's market caps.  But I am a trader and always looking for imbalances, bubbles, and inverse bubbles to shift wealth into something else for profit.

I personally think bitcoin will hit a pretty big growth wall with 1 MB blocks and no segwit when cost to get into next block gets to around $1-2.  So bitcoin in current state might be starting to get near limits of growth, while gold and silver are both in inverse bubbles where you're kinda guaranteed to score a home run on a long enough timeline (silver even more so than gold).

[BTCtrader71]

None of my friends have mentioned bitcoin to me recently.

Now...these are the friends I was boring back in 2013/14 about it and when the shit hit the fan and it dropped to $200 I bought them all up. My friends know this.

This has all happened and not one of my mates has asked or text me about bitcoin.

Is this because:-

A. They all know the price now and don't want to talk about it as they feel sick knowing they laughed and made jokes.

B. They haven't even heard the news as the media have hardly reported on it.

C. They hate me and never liked me in the first place bitcoin or no bitcoin.

haha same here. I entered in bitcoin world in nov. 2013, and bought my first bitcoin on the top. Ande then lost in cuz I've been goxed.
But then I was more cautious, bought almost all of my stash at 200$.
Now all of my friends and family regrets that they didn't invested back then.
And some are asking me to invest their money now   And I'm like: Really do you want to be the fool who buys on the top and sells at the bottom? And they still want to invest...

Ask them if the price drops, at what price will they decide to sell. Like if it drops back to $200 are they going to sell. If they say yes then tell them they have to be prepared to ride it ALL THE WAY TO ZERO without selling. If they're not ready to do that, I would say I won't help them because the only certainty is that it's going to be VERY volatile.

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

[HI-TEC99]

I wonder when the chinese will catch up. Normally they'd be at $1.5k already lol

Another couple of weeks btc withdrawals might resume at the Chinese exchanges. Let's see what happens then.

I can't confirm if it's true, but someone in the Bter trollbox says Bitcoin withdrawals are now enabled again. Bter froze all Bitcoin and Litecoin withdrawals for a month like all the other Chinese exchanges. If Bter really has enabled withdrawals the other Chinese exchanges might enable them again soon.





Will that pump the price further up?

[European Central Bank]

I can't confirm if it's true, but someone in the Bter trollbox says Bitcoin withdrawals are now enabled again. Bter froze all Bitcoin and Litecoin withdrawals for a month like all the other Chinese exchanges. If Bter really has enabled withdrawals the other Chinese exchanges might enable them again soon.

bter has been effectively dead since their hack all those years ago. they never seem to respond to support any more and volume is tiny. weird that the government would pay them any attention.

[HI-TEC99]

I can't confirm if it's true, but someone in the Bter trollbox says Bitcoin withdrawals are now enabled again. Bter froze all Bitcoin and Litecoin withdrawals for a month like all the other Chinese exchanges. If Bter really has enabled withdrawals the other Chinese exchanges might enable them again soon.

bter has been effectively dead since their hack all those years ago. they never seem to respond to support any more and volume is tiny. weird that the government would pay them any attention.

I think the Chinese government might have ordered all Bitcoin exchanges to freeze Bitcoin withdrawals, even the smallest exchanges.

Cointelegraph suggests OKCoin might be gearing up to enabling withdrawals again too. Although the information getting released from OKCoin isn't crystal clear.


https://cointelegraph.com/news/bitcoin-price-pushed-by-okcoin-getting-ready-for-relaunch-china-money-supply-increase

On March 1, OKCoin representatives told their users on WeChat, a popular Chinese messaging platform with over 700 mln users, that the exchange is approving the transfer of Bitcoin and Litecoin from their .com to .cn site.

Basically, OKCoin is approving users transferring their user funds stored on the global OKCoin trading platform to their Chinese site because the company’s .CN platform is nearly ready for approval by the PBoC and relaunch.

An OKCoin representative stated:

“Transferring Bitcoin from our domestic site to international site is not supported. But, transferring Bitcoin from international to domestic site is allowed.”

At the time of writing, it is difficult to conclude whether this means that OKCoin users will soon be able to withdraw their funds in Bitcoin and Litecoin.

edit


Bitcoin.com says some Chinese exchanges are now allowing withdrawals without officially announcing it. However, BTCC now requires ID card and video verification to withdraw, which will lock a lot of coins on the exchange as some customer's won't comply.

https://news.bitcoin.com/a-regulatory-storm-is-forming-in-china-video-verifications-required-futures-forbidden/

a source from the region tells Bitcoin.com that new rules have been applied for certain Chinese exchange withdrawals. It seems some exchanges are allowing withdrawals with no official announcements. Our correspondent also explains that withdrawing from BTCC now requires ID card and video verification.

Apparently the PBOC is now disregarding Bitcoin and cracking down on other types of exchanges like oil futures, and precious metal exchanges.

The central bank’s regulatory pressure may not be entirely focused on bitcoin trading. The PBOC has also issued warnings to other types of exchanges...

Bitcoin exchanges are not mentioned in the latest warning but targets companies that exchange futures on oil, collectible stamps, precious metals and more.

[Okurkabinladin]

HI-TEC,

this is really useful info, thank you for sharing. It is logical, Chinese will implement similar measures that are already in place on majority of western exchanges. Ie formal disclosure of identity of its asset holders and users.

Personally, I believe this will be better for bitcoin price in the long term. Less room for shady business. Much better.

[Lesbian Cow]

I will sell when:

1) rpeitila announces the renovation of his castle

2) Goat buys a new car

[r0ach]

I will sell when:

1) rpeitila announces the renovation of his castle

2) Goat buys a new car

I'll happily dump for silver at peak of ETF approval pump (if such a thing is approved).  And why - my long term macro view on the subect (not to be confused with short term view):

The fact that bitcoin can be so called "upgraded", which really just means changed, means it's not anti-fragile by default.  Being able to be changed is a actually a bad thing that makes it not anti-fragile, or fungible, or money in the first place.  It's why crypto will always be cryptocurrency and never money.  We are all just fascinated by complex Rube Goldberg machines.  Obfuscate something to the nth degree until nobody knows what it's traits really are or what it's really doing.

Ok, time to pump this here coin.  Oh, what's that?  In order to believe it doesn't have value someone is required to have a computer science degree and then spend years dissecting it's traits in order to figure that out?  And even then, multiple computer science majors will have completely differing opinions because it's almost impossible to be a master in all required subjects?  Perfect, let's create an ETF before anyone discovers.

Money is something that can't arbitrarily be changed by some guy on a random whim when he wakes up in the morning...or change the security model to something else entirely.  Money can't transform to something completely different at random.  Why is bitcoin not banned?  Because the govt loves people wasting their time with currency instead of having actual money.  That and the fact that it's designed as a 1984 tracking system by default.

Bitcoin is also a CURRENCY, not money, just like any attempt to replace bitcoin will also be a currency.  CURRENCY has never been a good investment on a long timeline ever.  Currency never holds value.  It doesn't matter if it's bitcoin or anonymint coin, they all implode to worthless.  They are RECEIPTS for money.  

[Lauda]

I'll happily dump for silver at peak of ETF approval pump (if such a thing is approved).

Simply put: You're a delusional metal bagholder. It seems that you're on the wrong forum and I have no idea why you aren't banned for off-topic/trolling.
Correction time? $1240 being tested.

[r0ach]

I'll happily dump for silver at peak of ETF approval pump (if such a thing is approved).

Simply put: You're a delusional metal bagholder. It seems that you're on the wrong forum

Delusional is when you are unable to identify fundamentals and are on an investment-centric forum.  Comparing bitcoin vs metals fundamentals is also completely on-topic to price discussion.  Like I said before, the market can be irrational longer than you can remain solvent, but on a long enough timeline, bitcoin should behave as a currency and not "money".  Currencies are typically not stores of value.  

It has taken me a LONG TIME to really do a thorough analysis of bitcoin because there are just far too many variables, but there it is.  For most of the time I was focused on complete red herrings like the consensus systems and nash equilibrium, but most of that is just smoke and mirrors to obfuscate the fact that nobody can really get rid of a centralizing power vacuum force.  Instead of make believing that some new change is going to improve things, the proper analysis is that the ability to be so called "upgraded", which just means changed, is nothing but a negative in the first place.

[Biodom]

None of my friends have mentioned bitcoin to me recently.

Now...these are the friends I was boring back in 2013/14 about it and when the shit hit the fan and it dropped to $200 I bought them all up. My friends know this.

This has all happened and not one of my mates has asked or text me about bitcoin.

Is this because:-

A. They all know the price now and don't want to talk about it as they feel sick knowing they laughed and made jokes.

B. They haven't even heard the news as the media have hardly reported on it.

C. They hate me and never liked me in the first place bitcoin or no bitcoin.

I always tell my friends that i will not give them buy/sell advice and I never do.
However, I did notice the same thing-nobody talked about it with me since last summer ($400).
I'll go with B, though. Maybe a little of A for some.
Ask a random guy on the street-they wouldn't now.
Older folks are into paypal, younger-venmo.

[European Central Bank]

I always tell my friends that i will not give them buy/sell advice and I never do.

i've given people btc. i'll never help them buy any or advise them about it. way too many potential problems with zero upside.

[JimboToronto]

I see we had another little correction.

Okay, that's enough corrections. Time to start moving up again.

 

[Punisher1314]

Possible floor at @1239$ on stamp, let's check it again after some hours. That was the Gold price this morning (1234$ right now), so it can be a good signal that the markets approve that btc > gold, but let's see if it is in the short term or in the long one.

Btw what are now saying those gold-supporter twitter accounts bearing about btc?  

[Torque]

None of my friends have mentioned bitcoin to me recently.

Now...these are the friends I was boring back in 2013/14 about it and when the shit hit the fan and it dropped to $200 I bought them all up. My friends know this.

This has all happened and not one of my mates has asked or text me about bitcoin.

Is this because:-

A. They all know the price now and don't want to talk about it as they feel sick knowing they laughed and made jokes.

B. They haven't even heard the news as the media have hardly reported on it.

C. They hate me and never liked me in the first place bitcoin or no bitcoin.

haha same here. I entered in bitcoin world in nov. 2013, and bought my first bitcoin on the top. Ande then lost in cuz I've been goxed.
But then I was more cautious, bought almost all of my stash at 200$.
Now all of my friends and family regrets that they didn't invested back then.
And some are asking me to invest their money now   And I'm like: Really do you want to be the fool who buys on the top and sells at the bottom? And they still want to invest...

Ask them if the price drops, at what price will they decide to sell. Like if it drops back to $200 are they going to sell. If they say yes then tell them they have to be prepared to ride it ALL THE WAY TO ZERO without selling. If they're not ready to do that, I would say I won't help them because the only certainty is that it's going to be VERY volatile.

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

Bitcoin is a lot like the movie 'Fight Club'.



The First Rule of Bitcoin is: You do not talk to friends, family, or colleagues about Bitcoin.

The Second Rule of Bitcoin is: You do NOT talk to friends, family, or colleagues about Bitcoin!!!