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

[JimboToronto]

this is February 2013 amirite?

Did they turn on the new Willy already?

Willy was November 2013, not February.
____

There's that Stamp bidwall again. LOL

This time it barely lasted seconds.

[Lauda]

There we go.

Gotta love self-correction.

We don't need no stinking bubbles.
 

As much as I love to see the price go up, I'd rather it go up in a steady climb. In that case it is less prone to 'crashing' back down and less volatile. I keep bitcoinity open and check the volatility rates occasionally.

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.

[Spaceman_Spiff]

Forget an ATH and "gold parity", the true crazyness of today: BTC-e almost at the same price as Stamp and Finex.  

[rjclarke2000]

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.

[spooderman]

this is February 2013 amirite?

Confirmed.

Confirmation confirmed. 

ok that's 2 confirmations. should be ok to spend my assertion now.

[r0ach]

Forget an ATH and "gold parity", the true crazyness of today: BTC-e almost at the same price as Stamp and Finex.  

The real interesting question is what is actually happening when the price of bitcoin skyrockets:  Let's use a wild example and say bitcoin went to $100,000.  This would be inflating the general money supply assuming people were buying things directly with bitcoin.  You are placing in a dollar substitute, kind of like counterfeiting (not the greatest term, but best example I could think of).  The overall effect is more money in the system.

Since nobody is buying things with bitcoin directly, it remains a derivative of the USD like almost all other fiat currencies.  This also makes bitcoin constrained by things like dollar liquidity shortages, etc, where federal reserve monetary policy is essentially bitcoin monetary policy.

[willope]

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...

[pukis]

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.

[willope]

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

[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