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

[FractalUniverse]

ETH failing to perform even when bitcoin is crashing...

But then again, it's gone up 17% today.

Is Bitcoin crashing

Last time I checked price was above $2800, maybe I missed a mini rally in the hours I was offline

not yet crashing, but it seems to me that today is turning point.
even ETHernal pump is close to the top here.

of course i can be wrong, this is just my gut feeling  (+ i thought eth top was 100 dollars lower)

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[JayJuanGee]

omg it looks like failed retest of ATH and now dump

At this time, I would hardly call it a failed retest.. to be bouncing within 5% of the top. 

You gotta zoom out a bit, have a little patience, and see the price pressure situation, as it is, rather than what you wished it would be.

And yeah, sure, for several days, we could kind of float in the price arena that is immediately preceding the ATH - even 5% or a bit more and not break above such ATH, but that does not conclude that we have actually retested such ATH.

[DieJohnny]

Some of us are buying ETH to trade back to BTC.  Its fairly clear now that it wont take long to exceed BTC's market cap. If ETH is going to crash hard, I suspect it wont be until after that and I intend to trade back around that time. Anyhow, why not diversify.  If ETH is successful and becomes the worlds new "super computer", wouldn't you want to be part of that?  BTC looks to serve as a safe haven in the event of a financial collapse.  I'll hold some of both for different reasons.

I think you are right on with your thinking, you own both for different reasons.

[Dabs]

Some ICOs seem to make sense. I can't tell you which ones, but from the 700 out there, at least 7 of them (about 1%) have "something", whatever that is, and not just for pure speculation.

As for me, I'm trying to trade my way up.

[Meuh6879]

For example, with a $15 transfer fee nobody is buying a t-shirt with Bitcoin.

fees are 0,0006 BTC or 0,00016 BTC ... so 1,8 USD.
not 15 USD.

transaction emitted by a "up-to-date" wallet ... a SPV one, with regular update on the policies fees calculation.

bitcoin is a network.
you must have a strong wallet to emit with low fees ... and normal time confirmation.

[bitserve]

I think we need to do a little pause here and evaluate what is hapenning here with the altcoins market.

but the conclusion is that some time in the future those ICO's will need to develop or die, and most probably will die. I can't see any reason why that castle won't start crumbling, I just don't know when will that happen.

This is entirely true but a collapse does not happen over night, and for just one company can take years, in ETH case you have 50 startups all with their own dreams of world domination.

Also, The difference between a ponzi scheme and a legit business model is not as bright and clear of a line as everyone would like to believe. A company can survive for a decade on selling just its vision. Even longer if you have a strong enough visionary model. Just look at Amazon, Uber, and even Facebook the first few years. All of them initially huge money losers but their vision of the future was so strong that investment dollars came in for a decade. That is happening now to crypto companies.

I have always contended that these ICO assets are simply a modern security. I actually think much, much better at passing the good fortune of a company's success on to early investors than a stupid Stock. If the economy of the company is driven by the asset, then anyone that owns the asset will reap a reward as that company's economy grows. It is the future of securities in my opinion and makes owning stock feel stupid in comparison.

That said the part you are missing is that 1) it takes years for phony business models to crash, we are in year 1 of ICO insanity, this could go on for five more years and that is if they ALL failed 2) not all of these will fail, some will succeed dramatically, validating the model and supporting the platform (ETH), 3) the only real risk to ETHs platform is regulation, however, that only slows the model and doesn't destroy it in my opinion.

So crashes will happen, but unless a flaw in ETH exposes an across-the-board ownership weakness this train is not stopping and each crashed coin will be replaced by 10 new startups.

Yes, I think you are right. It will take some time until the bubble pops. Plus I guess most people don't really care what they are "investing" as long as it keeps rising. The rise will have a limit, but maybe its nowhere near yet.

I just hope that when that happens there is still a store of value that is not heavily affected by that crash. And I hope that is Bitcoin. BUt who knows anything....

[bitserve]

Some ICOs seem to make sense. I can't tell you which ones, but from the 700 out there, at least 7 of them (about 1%) have "something", whatever that is, and not just for pure speculation.

As for me, I'm trying to trade my way up.

I am having a hard time doing that. Any time I pick up a coin or ICO and do some research about it all that I found out is rubbish behind it. Yet they still keep rising. It looks like a fucking gamble to me.

[bitserve]

OKCoin on ATH clearly above $3000.

Bitstamp on its way.

Kraken struggling due to lack of FIAT. The margin pool is empty.

[HI-TEC99]

OKCoin on ATH clearly above $3000.

Bitstamp on its way.

Kraken struggling due to lack of FIAT. The margin pool is empty.

Stamp is developing a big spread. It only takes 200 Bitcoins to either push it up to $2900 or down to $2800. OKCoin has a similar spread, it only takes 300 Bitcoins to either push it up to 21000 CNY or down below 20000 CNY.

[White sugar]

OKCoin on ATH clearly above $3000.

Bitstamp on its way.

Kraken struggling due to lack of FIAT. The margin pool is empty.

I guess people are avoiding Kraken since they started to charge 0.0025 BTC for withdraws

[bitserve]

OKCoin on ATH clearly above $3000.

Bitstamp on its way.

Kraken struggling due to lack of FIAT. The margin pool is empty.

I guess people are avoiding Kraken since they started to charge 0.0025 BTC for withdraws

YUp, I got hit by that fee a couple days ago. Today I received an email stating that they are reducing it again.

If ETH doesn't start to dump into BTC in the next minutes for a new ATH I will feel very confussed.

[BlindMayorBitcorn]

If ETH doesn't start to dump into BTC in the next minutes for a new ATH I will feel very confussed.

I'm dumbfounded. So much more than before. Totally dumbfounded.

[shmadz]

What's up everyone? You guys still observing walls around here?

 165 btc buy wall on Quadrigacx right now! https://twitter.com/theshmadz/status/873688936912109568  (please excuse the shameless plug, but it's easier to post pictures on twitter)

Does anyone know how to figure out what that would do to the price if he got tired of waiting and did a market buy?

[bitserve]

What's up everyone? You guys still observing walls around here?

 165 btc buy wall on Quadrigacx right now! https://twitter.com/theshmadz/status/873688936912109568  (please excuse the shameless plug, but it's easier to post pictures on twitter)

Does anyone know how to figure out what that would do to the price if he got tired of waiting and did a market buy?

I donno. That exchange is not among the ones I do observe. I don't think it will have any significant impact on global price.

What's the reason to use that exchange instead of one of the main ones?

[European Central Bank]

they lost $14 million of ethereum recently so maybe he's watching to see whether it'll implode. they say they're doing fine. how many places have 14 million going spare?

[deepcolderwallet]

Actually there are only a dozen. My interest is specially about how Brasilian political and economic crisis is seen worldwide.

Outside of Brazil we are all given propaganda that one side or the other want us to hear. From what I see they got rid of a corrupt socialist leader and elected a pro business leadership. Usually when I see pro socialist news attacking something it is usually a good thing. I have some hope for the new leaders to turn things away from the bad road it was going down. I had several Brasilian friends and girlfriend in Germany. They love the culture but do not want to go back mainly due to how unsafe and corrupt it is.

Actually there was no election, after impeachment the vice-president assumed the power, and yes, he is pro-business but drown in corruption as all the others before him.

This week the Electoral Supreme Court denied nulling the whole party elected in 2014, besides the corruption allegations, then so far he'll stay in power till Jan-2019. Oct-2018 new presidential elections are up, this is what scares me most. It's possible probable Lula (the antichrist himself, father of corruption) will run and if he runs polls give him 90% chance to be elected. This is the worst scenario ever, this is the highway to become the new Venezuela.

[deepcolderwallet]

i could tell you about a certain brazilian academic who professed ad nauseam that bitcoin was a despicable ponzi, not in any way comparable to government-backed real money, despite having had his savings wiped out by the banco central do brasil no fewer than three times in as many decades.

but i'll spare you the pain.

We go way back with the Professor. He was one of our classiest trolls.

Please cite names. I'd love to know who you're talking about.

[European Central Bank]

Please cite names. I'd love to know who you're talking about.

it's probably gonna curse us to say his name. the guy was relentless.

but here it is - jorge stolfi.

[bitserve]

they lost $14 million of ethereum recently so maybe he's watching to see whether it'll implode. they say they're doing fine. how many places have 14 million going spare?

Ouch, that hurts... more so if you are an insignificant exchange and.... the price of the lost coins doubles after the theft. Not looking good.

[bitserve]

Please cite names. I'd love to know who you're talking about.

it's probably gonna curse us to say his name. the guy was relentless.

but here it is - jorge stolfi.

FIFY