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

[Last of the V8s]

^ while we're on the subject of r0ach making occasional sense in amongst all the bollox, there's this gem, highlighted by he-who-must-not-be-named

I lost .5 btc shorting eth

Eth is the LEAST aggregate market I've ever seen, which is why I never recommend people to short it.  The price is controlled by one single guy who runs the bots on Bologniex tied to either the Ethereum developers themselves, or some entity like Goldman Sachs.  Ever since Bitcoin started to rise, I watched them absorb something like 5000-10,000 BTC in Eth dumps on Poloniex just trying to prop the price up and prevent it from imploding.

The DOA event caused a dumpocalypse on them forcing them to absorb even more losses.  This single entity that controls the ETh price is underwater as fuck now and probably desperate to rid himself of some of those scamtokens.  I have a feeling the only reason it made it that high of value in the first place is the Eth devs themselves sent a bunch of Eth to Poloniex, then used those coins for collateral to margin long it to the moon while liquidating shoters.  Dan Larimer actually talked about attempting doing that himself once in the past when BTS was in the dumpster but he chickened out.  Him and Vitalik have been speaking a bit these days and maybe he gave Vitalik the idea.

http://btcbase.org/log/2016-06-22#1486944

[Lauda]

Anyone else enjoying the blood bath? Real Bitcoin holders remain unaffected.


The Bitcoin price is holding pretty nicely in comparison to the *rest*.

[Denker]

Anyone else enjoying the blood bath? Real Bitcoin holders remain unaffected.


The Bitcoin price is holding pretty nicely in comparison to the *rest*.

No problem here. I will sit it out as usual and try to accumulate more BTC. Will be interesting to see where the bottom will be this time. For now I don't think we've reached it so far. Altcoins holders will have to suffer much much more.They gonna learn it the very hard way!

[luckygenough56]

1800 soon

Question is when ?

[elite3000]

That is a pretty heavy drop currently.

Ether is tanking brutally.

The cryptocurrency market has been pure garbage for a while now.  Some big group(s) whether it's R3 or Digital Currency Group or both first pumps BTC, then pumps all alts one by one, then pulls the plug on everything simultaneously after they run out of fools to buy their pumps.  You know damn well the Poloniex staff are involved as accomplices in the pump and dumps too.  Anytime I mentioned a coin that I knew was going to rise in the troll box and told people to buy it, the mods went ballistic.

But it doesn't stop there.  You see, the R3 banker dirtbags favor Ethereum as their scamcoin of choice since they own it all, so they pumped Eth to the moon and then put up big ask walls in both Litecoin and Monero and a few other coins to try and prevent people from doing anything in those markets to try and get people back into Eth to buy their overpriced scamcoin pump.  This whole market is a giant criminal racket led by R3, DGC, Poloniex staff and a few others (maybe some guys like Pantera Capital but not sure about them).  Poloniex even adjusted their fee structure to give the R3/DGC pumpers no fees for high volume wash trading.

To make things even worse, when they pull the plug on BTC + alts, they let everything implode while putting up giant support walls on Ethereum so that each market implosion always has Ethereum gaining ground in market share compared to bitcoin and all other alts.  Vitalik should be public enemy #1 for helping the bankers attempt to take over cryptocurrency.  As for me, I don't really give a shit.  I was dumping bitcoins for silver as fast as possible from $2700 to $2500 because no cryptocurrency created thus far (and probably ever) actually improves upon metals in any way besides how fast you can dump them.  

But coinmarketcap says ETH lost more value Litecoin Monero

How can this be, if they are preventing ETH from falling and dumping others

So far Bitcoin is the coin that lost less value %-wise, except one or other minor coin

[starmman]

Anyone else enjoying the blood bath? Real Bitcoin holders remain unaffected.


The Bitcoin price is holding pretty nicely in comparison to the *rest*.

I'm currently about 20% down over the last 3 days - but actually loving all this volatility

[JayJuanGee]

Anyone else enjoying the blood bath? Real Bitcoin holders remain unaffected.


The Bitcoin price is holding pretty nicely in comparison to the *rest*.

Looks like at some point, we might begin to witness an opposite correlation of BTC and the unnamed coin... .hahahaha.. unnamed.

Anyhow, we had been seeing a kind of less extreme movement of BTC, but possibly at some point, some of these folks are going to realize that bitcoin is holding and increasing in value while various shit coins are losing value... go figure?  Wonder where I should put my money?  lifeline for rocket scientist?   

[lightfoot]

Man I woke up, saw this thread and thought it crashed to 1700 or so. Then checked and it's at 2300 or so.

*yawn* Going back to bed. Worse things happen in a rain storm.

[starmman]

Man I woke up, saw this thread and thought it crashed to 1700 or so. Then checked and it's at 2300 or so.

*yawn* Going back to bed. Worse things happen in a rain storm.

Only problem is with the alts retracing to around their May values, BTC seems fine IMO

[Lauda]

No problem here. I will sit it out as usual and try to accumulate more BTC. Will be interesting to see where the bottom will be this time. For now I don't think we've reached it so far. Altcoins holders will have to suffer much much more.They gonna learn it the very hard way!

Indeed. The good part of a longer bear market is the chance of getting more BTC.

I'm currently about 20% down over the last 3 days - but actually loving all this volatility

I have absolutely no idea how down I am, and I do not care. The Bitcoin price holding over $2000 is pretty great.

Looks like at some point, we might begin to witness an opposite correlation of BTC and the unnamed coin... .hahahaha.. unnamed.

But someone told me that unnamed coin is the future

Anyhow, we had been seeing a kind of less extreme movement of BTC, but possibly at some point, some of these folks are going to realize that bitcoin is holding and increasing in value while various shit coins are losing value... go figure?  Wonder where I should put my money?  lifeline for rocket scientist?  

The only truth right now: Bitcoin is the only coin with any actual fundamentals and widespread adoption. The rest are purely speculative or scams.

[Last of the V8s]

https://twitter.com/The_K_meister/status/884648706372448256
 Kolin Burges‏ @The_K_meister 5h5 hours ago

Karpeles admits operating Willy bot, now called an "obligation exchange", but says it was for good of company so not illegal #KarpelesTrial

[empowering]

That is a pretty heavy drop currently.

Ether is tanking brutally.

snip

because no cryptocurrency created thus far (and probably ever) actually improves upon metals in any way
  

 

[empowering]

https://twitter.com/The_K_meister/status/884648706372448256
 Kolin Burges‏ @The_K_meister 5h5 hours ago

Karpeles admits operating Willy bot, now called an "obligation exchange", but says it was for good of company so not illegal #KarpelesTrial

What do we reckon..... 5 years in the clink or a $4000 fine ??  

Nobody is going to prison fuck him   hmmmm unless maybe a sumo...

[Meuh6879]

Anyone else enjoying the blood bath?

But ... if we look closer :

[elite3000]

Looks like this was only the weekend dump delayed. Price should be above $2400 in hours and near or above $2500 in few days.

Keep trading and wait the next dump.

[Torque]

<snip>

To make things even worse, when they pull the plug on BTC + alts, they let everything implode while putting up giant support walls on Ethereum so that each market implosion always has Ethereum gaining ground in market share compared to bitcoin and all other alts.  Vitalik should be public enemy #1 for helping the bankers attempt to take over cryptocurrency.  

r0ach, I may not agree with everything you posit, but this post is pretty much in line with what I have observed as well. There have been multiple attempts to undermine Bitcoin this year, whether it has been the undermine-confidence attacks from the BU/Roger Ver/Jihan Wu/Craig Wright crowd, or the divide-dilute-and-conquer attacks with the "shitcoin flippening" this year. Pumping ETH and ICOs has been the most insidious and ridiculous thing I've ever seen. And of course it worked on some of the weak-minded, because they are sheep driven only by greed, and not by critical thinking and common sense.

All of it has been by design by nefarious actors that want a) more control of the crypto ecosystem b) to win over hearts and minds of the users, and c) extract the most money through more control.

This is dangerous and Bitcoiners should be ever more vigilant in pushing back against these attacks.

As for me, I don't really give a shit.  I was dumping bitcoins for silver as fast as possible from $2700 to $2500 because no cryptocurrency created thus far (and probably ever) actually improves upon metals in any way besides how fast you can dump them.

Well that is your opinion and your prerogative about Bitcoin. I happen to not agree, I don't believe that Bitcoin is trying to 'out do' or compete directly with metals. It's just a different form of the same type of thing, a digital fallback or out against the corruption of the global fiat regime. I still see Bitcoin and metals as complimentary.

Incidentally though, I did see an interim top around ~$2700, and after 4 patient years of holding and waiting to take some advantage, I bought some metals too. Especially now when the banking cabal is trying to squash metals into the ground so that Average Joes have apathy toward metals, and even long time bugs are exhausted and starting to give up on them.

But if I didn't have either one, I'd buy some bitcoin first. I still believe that long term Bitcoin will outperform metals by a large degree. The world is digital and interconnected now, and I don't see that ever changing.

I feel that the global ruling elite are starting to get desperate, and when the inevitable crash and global reset finally comes, they don't want anyone other than themselves (the top 1%) to have any true wealth as a backstop for the reset, only debt. That way they can start the game all over again with themselves at the top and once again in control.

[edgar]

shocking roach doesnt mention the gold price...

and what an opportunity it could be..

[Dabs]

I was dumping bitcoins for silver as fast as possible from $2700 to $2500 because no cryptocurrency created thus far (and probably ever) actually improves upon metals in any way besides how fast you can dump them.

If that's the only improvement of bitcoin over metals, I'd say that's a pretty good property: the ability to dump them fast, almost anywhere in the world, and bringing them with you across international borders if you have to travel.

[NeuroticFish]

From what I see it recovered over 100$ (close to 140$) in some 7h, at least on Bitstamp.



The funny thing is that this means nothing. A lot can (and will) happen in the next 30 days.

[Prova123]

...
I feel that the global ruling elite are starting to get desperate, and when the inevitable crash and global reset finally comes, they don't want anyone other than themselves (the top 1%) to have any true wealth as a backstop for the reset, only debt. That way they can start the game all over again with themselves at the top and once again in control.

very interesting your ideas.