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

[marcus_of_augustus]

Amazing crop this year.. thank you bitfinex.. awfully ripe though, looking like it's almost time for the harvest  

some people cut flowers once a year ... others log stands of timber.

Don't cut yourself.

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[Instamined]

Bitcoin: 77000 unconfirmed transactions and an All Time High.

Makes Sense 

[bones261]

Bitcoin: 77000 unconfirmed transactions and an All Time High.

Makes Sense  

Well, I just sold some of my shitcoin and was making a move to Coinbase to cash out like 0.23 BTC so I can pay a bill or two. Guess that isn't going to happen anytime soon. I'm sure this recent spike in backlogged transaction is some kind of manipulation. I haven't bothered to look, but I'm sure the mempool is full of spam right now.

[jbreher]

Bitcoin: 77000 unconfirmed transactions and an All Time High.

Makes Sense  

Well, I just sold some of my shitcoin and was making a move to Coinbase to cash out like 0.23 BTC so I can pay a bill or two. Guess that isn't going to happen anytime soon. I'm sure this recent spike in backlogged transaction is some kind of manipulation. I haven't bothered to look, but I'm sure the mempool is full of spam right now.

Price is skyrocketing, news of ATH is rampant, and all the backlog is spam.

Couldn't be that the recent trend has people moving funds to/from exchanges. You know, in order to take advantage of unique trading positions. Naah.

Gotta be spam.

Right.

[Instamined]

Bitcoin: 77000 unconfirmed transactions and an All Time High.

Makes Sense  

Well, I just sold some of my shitcoin and was making a move to Coinbase to cash out like 0.23 BTC so I can pay a bill or two. Guess that isn't going to happen anytime soon. I'm sure this recent spike in backlogged transaction is some kind of manipulation. I haven't bothered to look, but I'm sure the mempool is full of spam right now.

Price is skyrocketing, news of ATH is rampant, and all the backlog is spam.

Couldn't be that the recent trend has people moving funds to/from exchanges. You know, in order to take advantage of unique trading positions. Naah.

Gotta be spam.

Right.

It's not low value spam, it's a bunch of Indians moving their life savings.  

[Paashaas]

This is what, the 5th constructive day we see a new ATH?  Thats a pretty rare event for Bitcoin.

Japan is loading up there country with fresh coins, this might escalate the price much higher.

[jjacob]

This is what, the 5th constructive day we see a new ATH?  Thats a pretty rare event for Bitcoin.
Japan is loading up there country with fresh coins, this might escalate the price much higher.

5th constructive day or 5th consecutive day? 
Given the momentum, I am pretty sure we can see many more ATHs in the days to come.

[BlindMayorBitcorn]

Constructing the next ATH be like:

[DaRude]

Wow- 1 MB transaction with 273 BTC in fees:

https://www.reddit.com/r/btc/comments/69318u/save_the_chain_enclosed_1_mb_transaction_with_273/

I wonder who is behind this??

Fascinating. From OP -

This transaction:
is 1 MB in size,
has 273.99971476 BTC in fees,
contains 99,940 zero-value anyone-can-spend outputs,
can only be included on the blockchain if the maximum block size limit is raised,
creates a direct incentive for miners to upgrade bitcoin.

(emphasis in the original)

Life just gets more and more interesting.

On another note, I thought nChain was just Wright's company. I didn't realize it was also the name of a competing blockchain.

For all that matters miners can include BTC20k BTC and it still won't make a difference. We all get it miners stand to win big on bigger blocks don't have to shove it in our faces

[monsanto]

Amazing crop this year.. thank you bitfinex.. awfully ripe though, looking like it's almost time for the harvest  

some people cut flowers once a year ... others log stands of timber.

Don't cut yourself.

Agreed, and I do keep a large percentage of timber  .. but I've been through too many forest fires at this point not to take some profit. The general trend is upward but this movement since Bitfinex halted fiat doesn't look organic to me at all. I see storm clouds ahead.

[Instamined]

Amazing crop this year.. thank you bitfinex.. awfully ripe though, looking like it's almost time for the harvest  

some people cut flowers once a year ... others log stands of timber.

Don't cut yourself.

Agreed, and I do keep a large percentage of timber  .. but I've been through too many forest fires at this point not to take some profit. The general trend is upward but this movement since Bitfinex halted fiat doesn't look organic to me at all. I see storm clouds ahead.

Nobody actually makes any profit off of a btc rise until they sell their coins for fiat or spend them on something at an increased fiat peg.

This is obvious but essential.

[podyx]

I can't believe alts hasn't crashed yet. A matter of time I guess

[micalith]

I can't believe alts hasn't crashed yet. A matter of time I guess

the last two bubbles saw the alts crash AFTER bitcoin. No idea whether that'll be the case again this time, but I do have a contingency plan for it

[aminorex]

I can't believe alts hasn't crashed yet. A matter of time I guess

Saying "alts" is like saying "Europe".  There is a vast difference between Paris and Pristina, between Aalborg and Athens.  While swaths may crash, swards may take flight.  But then (without checking) you are probably a maximalist, in which case this won't make any sense to you.

[Holliday]

Price is skyrocketing, news of ATH is rampant, and all the backlog is spam.

Couldn't be that the recent trend has people moving funds to/from exchanges. You know, in order to take advantage of unique trading positions. Naah.

Gotta be spam.

Right.

Those two things were also true from late April 29th to mid May 1st but there was no backlog what-so-ever, in fact blocks weren't even full. I guess traders only spam take advantage of unique trading positions on weekdays. Someone should inform them that Bitcoin isn't the stock market and functions on weekends as well.

Maybe the "spammers" are very religious and rest on Sundays!

[micalith]

I can't believe alts hasn't crashed yet. A matter of time I guess

Saying "alts" is like saying "Europe".  There is a vast difference between Paris and Pristina, between Aalborg and Athens.  While swaths may crash, swards may take flight.  But then (without checking) you are probably a maximalist, in which case this won't make any sense to you.

beautiful

[Mervyn_Pumpkinhead]

Another shiny day in Bitcoinland (and LTC too )

But I want to share something I have just noticed when I arrived home. Kraken has have some misbehaviour today (again):

If you look at the graphs there have been a very weird spike downwards from 1339€ to €1221.93 with no significant volume.

It's not just a bitcoinwisdom error, as you can also see it as the 24h low mark on Kraken itself.

What's so strange about this? Well, I have a limit order (since a few days ago) to buy BTC at around 1240€ which has NOT been fullfilled... but the price went lower than my buy order?!?! That's obviously a misbehaviour of their trading engine -not the first at all- and I think that may be some tight longs could have been incorrectly liquidated.

Anyone else that have been affected by the misbehaviour, by not having orders executed when they should, or anyone that has been incorrectly liquidated (they shouldn't if limit buy orders would have executed), please contact me.

In 2013 that was a grievance across pretty much all exchanges.  Kraken seems to be the most easily bogged down exchange lately (weakest infrastructure remaining?), so no real surprise there.  They are too busy adding shitcoins to fix what they've got.  Over a week to respond to a support request?  Screw them, I send my money elsewhere.

Kraken is currently my favorite exchange. Mainly because it doesn't reek of fake volume created by non-existing fiat and playing of their own books. I never trusted BFX and I don't trust Polo either. Something tells me that they exploit this unregulated game as much as possible. Margin trading on shady exchanges is the worst option in the crypto game.

[JayJuanGee]

I can't believe alts hasn't crashed yet. A matter of time I guess

Saying "alts" is like saying "Europe".  There is a vast difference between Paris and Pristina, between Aalborg and Athens.  While swaths may crash, swards may take flight.  But then (without checking) you are probably a maximalist, in which case this won't make any sense to you.

A person can recognize diffeneces in the levels of shitiness of alts without being a maximalist or a moron, right?

[Denker]

I can't believe alts hasn't crashed yet. A matter of time I guess

Yeah I'm scratching my head why it hasn't happend yet. This bubble is getting and bigger. Man when a good portion of that floods into Bitcoin this would create a massive bubble. Maybe this is the plan. Atlcoin bubble first, then shifting and creating Bitcoin's bubble.
Just wild guessing here.

[Denker]

I can't believe alts hasn't crashed yet. A matter of time I guess

Saying "alts" is like saying "Europe".  There is a vast difference between Paris and Pristina, between Aalborg and Athens.  While swaths may crash, swards may take flight.  But then (without checking) you are probably a maximalist, in which case this won't make any sense to you.

I think we can agree that 95% of alts are not really innovative, scams, partially scams and mostly been made to give their devs and people who pull the strings in the background a quick and big profit. 5-10 coins may have the potential to exist in the next years with some serious value and development while the rest will mostly disappear or end with a value less than a cent.