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

[JimboToronto]

total mkt cap of crypto (available supply) will approach 100 bil $ soon  imho

Market cap of crypto is a totally meaningless statistic. This isn't like a public company, where the market cap is approximately the price to buy the entire company. You cannot buy all the bitcoins.

Sure you can.

You can't buy mine.

[jbreher]

This isn't like a public company, where the market cap is approximately the price to buy the entire company. You cannot buy all the bitcoins.

Sure you can.

Well, no. You can't Buy All The Bitcoins. For the price will go through the roof the more you buy. However, in this manner, it would be exactly like trying to buy an entire publicly traded company. Why anyone would think this not similar is mystifying.

[Chef Ramsay]

https://twitter.com/clif_high/status/864276449091403776

https://twitter.com/clif_high/status/864472180578328576

[toknormal]

What's this ?

Bitcoin appears to be attempting to break out of its consolidation lane early. It's supposed to reverse down and re-stest a bit more of the triangle apex. There are eager buyers with orders down there who have been promised by market tradition that they may be allowed to hoover up trimmings off the table towards the end of the current packing phase. They will be severely upset not to get their served their usual porridge.

But Bitcoin/USD does not seem to have the patience for such quaint market protocols. It's eager to make progress.

Let us follow events with interest.

[Chef Ramsay]

https://twitter.com/SatoshiLite/status/864230346778230785

[gentlemand]

https://twitter.com/SatoshiLite/status/864230346778230785

Well, if anything has to eat BTC's lunch it's going to be a far more nutritious meal for everyone if it's LTC rather some pathetic poocoin.

Maybe there should be some, like, negotiation going on by now.

[Torque]

Since we're posting stuff, how about this prophetic audio about the China credit market bubble. Pretty chilling.

https://www.youtube.com/watch?v=GMirYfqXIPM

[m3g4tr0n]

Let us follow events with interest.

Uhhhhh...... Just redraw the line. It was too low.

[bitcoinvest]

I just had a look on price.

Kraken    1603.21    

Bitcoin.de    1618.00    

BTC-e    1574.00


It seems that you can have a good profit only by having accounts and only buy-sell


EDIT: price is EUR not $

[phatsphere]

This isn't like a public company, where the market cap is approximately the price to buy the entire company. You cannot buy all the bitcoins.

You also cannot by the entire company by their shares. E.g. if I had a GOOG share and I don't sell it, you can jump around as much as you want and you won't get it.

[JayJuanGee]

A few hours ago, the sell wall on GDAX at $1,768.18 was over 600 coins, and now it is about 400 coins. 

Will the rest of that wall be eaten?  or pulled?

I think that it will be pulled, soon - maybe at around 200 coins remaining (in other words, the remaining half eaten and the other remaining half pulled).. anyone?

[gembitz]

/\BTC $2OOO street price!! ... >.>

 ~> somewhere in Japan supergeek Mt Kerpeles buying?   #vice #bitcoin

[machasm]

Has anyone been taking note of the fees at the moment. Seem quite high.
https://bitcoinfees.21.co/

[RayX12]

Has anyone been taking note of the fees at the moment. Seem quite high.
https://bitcoinfees.21.co/

Getting out of hand.

[leowonderful]

We're going to be at 400 sats/byte soon if we don't reach consensus. I wish we could just get along and reach consensus soon so we're all happy, but bitcoinland doesn't work like that. Combined with the current trend, we'll absolutely take off once Segwit or BU activates, but neither looks likely soon.

[Qartada]

Has anyone been taking note of the fees at the moment. Seem quite high.
https://bitcoinfees.21.co/

Getting out of hand.

This is pissing me off.  I didn't mind when it was 220 satoshi/byte or so, but this is a step too far.  Any transactions under $10 equivalent or so are completely impractical because of the fees that you have to spend and the fees that the receiver has to spend in the future.  Any transactions below $500 equivalent or so still have large fees compared to VISA.  Bitcoin is not a millionaire club.

Even arguments about the size of the transaction are meaningless now.  The smallest transactions you could do still have a fee of >$1.

[Lauda]

Even arguments about the size of the transaction are meaningless now.  The smallest transactions you could do still have a fee of >$1.

No. This remains constant. Fee is determined by the size + recommended fee-rate. It always has been. That put aside, there is a massive spam attack again. Mempool jumped by over 100-150k in <24 hours.

In case that TA isn't a lie. Source. https://pbs.twimg.com/media/C_tvXDnXcAA4G55.jpg:large

[gembitz]

Even arguments about the size of the transaction are meaningless now.  The smallest transactions you could do still have a fee of >$1.

No. This remains constant. Fee is determined by the size + recommended fee-rate. It always has been. That put aside, there is a massive spam attack again. Mempool jumped by over 100-150k in <24 hours.

In case that TA isn't a lie. Source. https://pbs.twimg.com/media/C_tvXDnXcAA4G55.jpg:large

^i noticed china is catching up to us in price  

[Torque]

I can feel the concern trolling level rising....

[JayJuanGee]

That put aside, there is a massive spam attack again. Mempool jumped by over 100-150k in <24 hours.
 

I do agree with the conclusion that these major back ups are largely caused by spam attacks, so yeah, delays and rising fees can piss people off, but also inability to move coins can also cause coin shortages and rising BTC prices because exchanges run out of coins (when the coins cannot be easily moved).