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

[JayJuanGee]

looks to me like another explanation is possible?

just bitfinex being way higher than all the others implies some kind of Gox 2.0.

weird that this doesn't seem to be being talked about?

i saw some posts on reddit a few days ago from people asking finex to prove their solvency?

anyone care to throw in their 2 sense?

Yeah.. weird because you seem to be trying to find scams and conspiracies with little to no evidence, merely for the sake of spreading bullshit and exaggerating rather than attempting to fleshing out some of these matters and attempting to put them in proper perspective.

[JayJuanGee]

-snip-

what do you think about this:
- bitfinex fiat withdrawals are disabled
- people fear Gox specially with everyone repeating it online
- so they cancel fiat withdrawal and buy up bitcoin on bitfinex (price goes up)
- they withdraw bitcoin to other places (mostly bitstamp) and dump there (price goes down there)
- they withdraw their fiat out of fear.

this is more buy pressure on bitfinex and more sell pressure on stamp.

Those factors make sense in terms of current and recent development in market dynamics.

Bitfinex withdrawals are not completely disabled, merely the ones that were processed through Wellsfargo services, and it seems that this is actually legitimate, and not made up by bitfinex and something that they are working on fixing.

Sure some of your description of relevant additional factors even undermines my bitstamp whale theory (I mean the theory that no one is following the supposed bitstamp whale). 

With these dynamics, we may need a few more days to see how these matters play out.

Sure sometimes there can be nepharious going on and sometimes there can be factors that are merely being attempted to be figured out.. and those factors affect price dynamics and some folks know about those price factors before other folks who are still trying to figure out dynamics.

[Karpeles]

-snip-

what do you think about this:
- bitfinex fiat withdrawals are disabled
- people fear Gox specially with everyone repeating it online
- so they cancel fiat withdrawal and buy up bitcoin on bitfinex (price goes up)
- they withdraw bitcoin to other places (mostly bitstamp) and dump there (price goes down there)
- they withdraw their fiat out of fear.

this is more buy pressure on bitfinex and more sell pressure on stamp.

Those factors make sense in terms of current and recent development in market dynamics.

Bitfinex withdrawals are not completely disabled, merely the ones that were processed through Wellsfargo services, and it seems that this is actually legitimate, and not made up by bitfinex and something that they are working on fixing.

Sure some of your description of relevant additional factors even undermines my bitstamp whale theory (I mean the theory that no one is following the supposed bitstamp whale). 

With these dynamics, we may need a few more days to see how these matters play out.

Sure sometimes there can be nepharious going on and sometimes there can be factors that are merely being attempted to be figured out.. and those factors affect price dynamics and some folks know about those price factors before other folks who are still trying to figure out dynamics.

But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times

[kurious]

-snip-

what do you think about this:
- bitfinex fiat withdrawals are disabled
- people fear Gox specially with everyone repeating it online
- so they cancel fiat withdrawal and buy up bitcoin on bitfinex (price goes up)
- they withdraw bitcoin to other places (mostly bitstamp) and dump there (price goes down there)
- they withdraw their fiat out of fear.

this is more buy pressure on bitfinex and more sell pressure on stamp.

Those factors make sense in terms of current and recent development in market dynamics.

Bitfinex withdrawals are not completely disabled, merely the ones that were processed through Wellsfargo services, and it seems that this is actually legitimate, and not made up by bitfinex and something that they are working on fixing.

Sure some of your description of relevant additional factors even undermines my bitstamp whale theory (I mean the theory that no one is following the supposed bitstamp whale). 

With these dynamics, we may need a few more days to see how these matters play out.

Sure sometimes there can be nepharious going on and sometimes there can be factors that are merely being attempted to be figured out.. and those factors affect price dynamics and some folks know about those price factors before other folks who are still trying to figure out dynamics.

But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times

It makes sense to pull out of any exchange with 'problems'.  In a bank run (whether justified or not) only the first people in the queue get paid.

I've pulled out what I had on there already - I am sure they might well fix it, but I don't trust exchanges and it's probably wise not to.

[JohnUser]

But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times

So why send their BTC on the exchange with the lowest bitcoin price ?

[r0ach]

Right now is honestly the worst I've ever seen bitcoin chart-wise.  The 6 month chart is a down channel about to drive off a cliff as I already posted:

And the short term chart is a head and shoulders forming (at least on Finex):



While you also have some enormous Gox-like spread between Finex and other exchanges.  Not sure why anyone would be holding right now.  There's just a few manipulators trying to rig the market up because it's too illiquid for them to dump their entire $10 million+ stash all at once.  

These whales like Digital Currency Group know they're trapped because they can't just parlay the money over to Ethereum since they know the price of that worthless scamcoin is already far too high for anyone to want to buy it from them.  Increasing the price of Eth just gets them trapped even more.  About the only move for them left is either dump BTC for fiat and flash crash it, or transfer funds to Bologniex and try to segwit pump Litecoin.

the splashes of the whales have frozen me in my tracks

[york780]

Right now is honestly the worst I've ever seen bitcoin chart-wise.  The 6 month chart is a down channel about to drive off a cliff as I already posted:

And the short term chart is a head and shoulders forming (at least on Finex):



While you also have some enormous Gox-like spread between Finex and other exchanges.  Not sure why anyone would be holding right now.  All this is is manipulators trying to rig the market up because it's too illiquid for them to dump their entire $10 million+ stash all at once.  

These whales like Digital Currency Group know they're trapped because they can't just parlay the money over to Ethereum since they know the price of that worthless scamcoin is already far too high for anyone to want to buy it from them.  Increasing the price of Eth just gets them trapped even more.  About the only move for them left is either dump BTC for fiat and flash crash it, or transfer funds to try and segwit pump Litecoin.

Interesting, but I think IF we go down it will be 2 waves down like we have widnessed a couple weeks ago. Flash crashes become more and more rare. Except on Coinbase Whats wrong with all those exchanges, they all have something nowadays. Strange prices, stucked coins, bank problems and lots of other strange things like whale manipulation and fake volume

[European Central Bank]

Whats wrong with all those exchanges, they all have something nowadays. Strange prices, stucked coins, bank problems and lots of other strange things like whale manipulation and fake volume

i think the exchanges have always been screwed in one way or another, but they worked well enough for long enough to convince enough people.

they're the direct interface with old world finance. there's always gonna be failure and friction.

[JayJuanGee]

-snip-

what do you think about this:
- bitfinex fiat withdrawals are disabled
- people fear Gox specially with everyone repeating it online
- so they cancel fiat withdrawal and buy up bitcoin on bitfinex (price goes up)
- they withdraw bitcoin to other places (mostly bitstamp) and dump there (price goes down there)
- they withdraw their fiat out of fear.

this is more buy pressure on bitfinex and more sell pressure on stamp.

Those factors make sense in terms of current and recent development in market dynamics.

Bitfinex withdrawals are not completely disabled, merely the ones that were processed through Wellsfargo services, and it seems that this is actually legitimate, and not made up by bitfinex and something that they are working on fixing.

Sure some of your description of relevant additional factors even undermines my bitstamp whale theory (I mean the theory that no one is following the supposed bitstamp whale).  

With these dynamics, we may need a few more days to see how these matters play out.

Sure sometimes there can be nepharious going on and sometimes there can be factors that are merely being attempted to be figured out.. and those factors affect price dynamics and some folks know about those price factors before other folks who are still trying to figure out dynamics.

But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times

It makes sense to pull out of any exchange with 'problems'.  In a bank run (whether justified or not) only the first people in the queue get paid.

I've pulled out what I had on there already - I am sure they might well fix it, but I don't trust exchanges and it's probably wise not to.

You may be correct about some of this, including the incentive to pull out first and to pull out often.


However, these kinds of supposed "pull out" behaviors are not closely reflecte in the data... unless we really do see that bitfinex's overall trade volume begins to dry up.

At this point, they are supposedly converting their cash to bitcoins and transferring the bitcoins - yet, there still continues to be pretty decent sized trade volume on bitfinex.

Maybe that trade volume will dry up, and maybe not.. maybe some people (the braver ones) just end up advantaging from these arbitrage opportunities... because they are doing the opposite of what other folks are doing?

But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times

So why send their BTC on the exchange with the lowest bitcoin price ?

That is merely called panic, which is what happens when a large number of people act upon FUD

But people get scared to do any withdraw on Bitfinex because they fear they might be other withdraws may be stopped too, and buy and transfer their Bitcoins to Bitstamp.

You know, fear is more powerful than facts sometimes and the financial markets are a little over reactive at times

So why send their BTC on the exchange with the lowest bitcoin price ?

Exactly!!!   Exchanges are like a necessary evil - until we get something else (maybe even better?  who knows?).   


 Maybe we are stating the obvious, but sometimes it gets to be a bit irritating when posters suggest that all money should be removed from exchanges, and on a personal level those kinds of decisions can be all fine and dandy, but we would have a whole-hell-of-a-lot different bitcoin (and other crytpo currencies) market place if we had a world without exchanges....


 Exchanges serve various functions and so in that sense, we have to deal with what is the actual dynamics (and that is exchanges) rather than wishing that they did not exist or some other fantasy world that does not currently exist.

[savetherainforest]

Right now is honestly the worst I've ever seen bitcoin chart-wise.  The 6 month chart is a down channel about to drive off a cliff as I already posted:

And the short term chart is a head and shoulders forming (at least on Finex):

Buddy... I see u'r delusional again! ... Please! Go take your meds!


The next week is critical!    

[spooderman]

looks to me like another explanation is possible?

just bitfinex being way higher than all the others implies some kind of Gox 2.0.

weird that this doesn't seem to be being talked about?

i saw some posts on reddit a few days ago from people asking finex to prove their solvency?

anyone care to throw in their 2 sense?

Yeah.. weird because you seem to be trying to find scams and conspiracies with little to no evidence, merely for the sake of spreading bullshit and exaggerating rather than attempting to fleshing out some of these matters and attempting to put them in proper perspective.

relax asshole, i've been around for years in this community. it's a reasonable question that i asked, i wasn't making any assertions.

[savetherainforest]

looks to me like another explanation is possible?

just bitfinex being way higher than all the others implies some kind of Gox 2.0.

weird that this doesn't seem to be being talked about?

i saw some posts on reddit a few days ago from people asking finex to prove their solvency?

anyone care to throw in their 2 sense?

Yeah.. weird because you seem to be trying to find scams and conspiracies with little to no evidence, merely for the sake of spreading bullshit and exaggerating rather than attempting to fleshing out some of these matters and attempting to put them in proper perspective.

relax asshole, i've been around for years in this community. it's a reasonable question that i asked, i wasn't making any assertions.

woahaha!!! The gloves are off... people seem more violent than ever!!

But to be blunt... "Phoenix" doesn't need to prove anything. Because fiat doesn't matter, so that means is irrelevant! You can always heist a bank or some stores from your city, but you will not be able to pull out of your ass new coins. So... as long as they show off for the BTC-coins, any paper or digital "funny/funky" money simply is no reason to give a sh!t about.






*edit:  And even if they might do another f^ckup, exchanges seem to learn from their mistakes and somewhat flag the stolen coins. Meaning if the thieves are smart and do not dump immediately like they did in the past. The price will automatically go up because of the shortage or void/vacuum that was created. But from what I suspect the stolen coins from the past are being tracked for some time now and every witness is being interviewed and a paper trail is being drawn on some weird internet cop's blackboard / sticky note board drawn with a permanent marker. And when the goods are being found the money from those recoveries will be poured back in to the BTC-coin!

[JayJuanGee]

looks to me like another explanation is possible?

just bitfinex being way higher than all the others implies some kind of Gox 2.0.

weird that this doesn't seem to be being talked about?

i saw some posts on reddit a few days ago from people asking finex to prove their solvency?

anyone care to throw in their 2 sense?

Yeah.. weird because you seem to be trying to find scams and conspiracies with little to no evidence, merely for the sake of spreading bullshit and exaggerating rather than attempting to fleshing out some of these matters and attempting to put them in proper perspective.

relax asshole, i've been around for years in this community. it's a reasonable question that i asked, i wasn't making any assertions.

I guess that we have different interpretations of reasonable  - especially when you are raising issues that come across as FUD-like.

Yeah, we know that Bitfinex has had some issues in the past - but they have also dealt with those issues, and this most recent issue regarding their interaction and discontinuation of Wells Fargo wire transfers does not seem to be one of Bitfinex's making...  so suggesting a conspiracy theory in everything seems a bit much - even though we know and understand that bitcoin pumpers and dumpers will frequently take any kind of news (or non-news) in order to exaggerate it and in order to attempt to create market volatility from that.

[Killerpotleaf]

idk wtf you guys have been saying. frankly i dont give a fuck.


we know what we want!

we know these FUCKING devs are just pounds in OUR game

we WILL HAVE bigger blocks
WE will have some form of Sedgwick and all the good things that come with it.

NO WE WILL NO SETTLE  FOR ANY COMPROMISE

we know this is possible!

[Killerpotleaf]

oh and that "replace by fee" bullshit

ya sorry todd

go fuck yourself.

[Killerpotleaf]

give me the fucking split "Split bitcoin in two button"

I WANA MOFOFUCKING HIT IT!!!!!!!!!!!!!!

DIE YOU MOTHER FUCKERS DIE!

We need the "real" Adam back?


Adam?


Adam?


Adam?

Where are you, goofball?  


We need a poll?


 

i am serious  as fuck
we need to fork off.
you me and need to get into a full on forking fight.

I've had it up to here with your "this is not a scaling solution" BULL-FUCKING-SHIT

you make your fork and i will too

let the market decide.

are you ready?

NO?

[Killerpotleaf]

anyanone that wishies a banks to take over blockcahine while of the rest of the world uses uses something else... ( LN or otherwise)

... lol i dont care how you justify it...

you need to DIE!!!!

BIG FUCKING TIME

[Killerpotleaf]

if you can't tell the difference between a null pointer exception and a systems failure you have no business in this fight..

my advice to you you is simple MOFO HOLD like your life depended it on it... it does... for real...

let us have our fight, you hodl!

[Killerpotleaf]

i have been here since the very start ( i am a native C++ programmer, i have always known that eventually full nodes responsibility  would fall the dependent, never didnt i expect the home user to be required to run a full node..... frankly i am insulted to her that bitcoin needs YOU to survive , we need users to be users... we do not ask more of you then that....fuck no, we are BIGGER then that.....

we CAN do this

Join us when we fork!

WE CAN OFFER YOU what you have been promised  

[Chef Ramsay]

honeslty i cant wait for all you mnother fucker to DIE!!!!!!!!!!!

You sir, need to purchase a serious amount of litecoin.