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

[Last of the V8s]

Szabo making sense

[bones261]

please to tell, where is this BCC dump?

Those crooks that decided to fork into Bitcoin Cash know very well that this unit will be sold into oblivion and will not exist for a very long time. What they bet on is stealing bitcoins from illiterate noobs that can't correctly split their wallets. That is their game. Act with extreme care and follow split manuals only from verified sources!

You should have read the the outrage and whining on the Bitcoin ABC slack when two way replay protection was added to the client:)

Is it possible to hijack a chain by lowering the difficulty? I should hope not, or practically every altcoin is in danger of attack. Otherwise, I seriously doubt they will ever be able to get the 51% hash required to overtake the BTC chain.

[Torque]

That's why I'm just going to sit on my BTCC for a long time, and see what happens in the future.  

Wouldn't it be better to dump them first, and rebuy at pennies on the dollar too?

Sure I guess. Knock yourself out.

I couldn't care less, and won't be putting into a single nickel into that shitcoin.

[FractalUniverse]

As the price of BCC is now priced into the current price of BTC

Pre Fork BTC = Post Fork BTC +  Post Fork BCC

So the real price of BTC is currently 0.885 * $2741   =    $2425

(obviously the price of BCC is not real yet)

I agree. Recent move up was probably caused by speculation that they can get more money from having BTC on aug1st and getting BCC or BCH whatewer. Thats likely also what caused most major altcoins significantly declining against bitcoin. - people selling part of their alts investments for bitcoin to get additional bcc.
I dont think its a wise move doing it now. i suspect that the formula can easily turn out like this in the end: Pre Fork BTC > Post Fork BTC +  Post Fork BCC.
It will be interesting, but this will likely turn out to be losing tactics - no free money from nowhere
+ also margin traders can be changing their collaterals from fiat/alts to BTC as well to get "free bcc" - another factor pushing price up.

[becoin]

That's why I'm just going to sit on my BTCC for a long time, and see what happens in the future.  

Wouldn't it be better to dump them first, and rebuy at pennies on the dollar too?

Sure I guess. Knock yourself out.

I could care less, and won't be putting into a single nickel into that shitcoin.

Current premarket price of BTCC shows that price will be between 1% and 2% of Bitcoin value. Even daily price volatility of Bitcoin is much bigger than that. So, this fork is pretty much a non-event. It doesn't deserve the efforts to split your wallet just to sell the fork.

[bones261]

That's why I'm just going to sit on my BTCC for a long time, and see what happens in the future.  

Wouldn't it be better to dump them first, and rebuy at pennies on the dollar too?

Sure I guess. Knock yourself out.

I could care less, and won't be putting into a single nickel into that shitcoin.

Current premarket price of BTCC shows that price will be between 1% and 2% of Bitcoin value. Even daily price volatility of Bitcoin is much bigger than that. So, this fork is pretty much a non-event. It doesn't deserve the efforts to split your wallet just to sell the fork.

1% to 2% the value of Bitcoin is quite the sum for me. I have to work for about an hour and 20 minutes to earn 1% of the value of Bitcoin, and that is gross, not net. (Yeah, I know. I'm a low wage worker.Lack of leadership skills is my big flaw.)

[jbreher]

there's a group forking an altcoin (bitcoin cash) come august 1st.

Pretty much. Though it is possible that in time, BC will surpass BTC in the marketplace. This is due to BC's inherent support of all the important use cases that core threw overboard in their insane Raspberry Pi fetish. If this were to come about, then BC would be Bitcoin, and legacy cripplecoin would be the alt.

this bumps the block limit to 8 MB. any other changes?

- SegWit stripped
- RBF stripped
- replay protection added

what happened to bitcoin unlimited? are they a part of this BCC split?

Sort of. If one runs BU, one can run it on your choice of BC or legacy cripplecoin, by tuning the block acceptance parameters. The primary client is likely to be BitcoinABC, though one might also use Classic, XT, core with a simple bigblock patch, or any number of other clients.

One other interesting attribute that you did not mention. At the point of the fork, you will be instantly awarded exactly as many BC as you have legacy Bitcoin. The fate of those BC coins are in your hands.

Is there a way to short the BTC cash futures?

If you're outside USA, you can use ViaBTC's BCC futures tokens.

The whale would then have to decide to either use their BTC to bolster BCC market or dump their BTC to harm BTC market. They couldn't do both.

Those crooks that decided to fork into Bitcoin Cash ...

There is no crime in voluntarily treating a permissionless system as a voluntary permissionless system.

And you are 100% wrong about the motivations. At least for the majority of BC supporters. We are working towards a stronger, more capable Bitcoin.

Current premarket price of BTCC shows that price will be between 1% and 2% of Bitcoin value.

Yes. In my math, $403 is exactly between 1% and 2% of $2759. </s>

https://coinmarketcap.com/currencies/bitcoin-cash/

BTCC is not a BC equivalent.

[Slow death]

On what exchange can you dump your btc crack cash (BCC)

I think BITTREX will also support if I am not mistaken, I plan on having 0.1BTC on Bittrex and 0.1 on Kraken and 0.8 in my paper wallet.
Unfortunately that is the total sum of my BTC at the moment, soon I will get back to 7BTC hopefully and then some.

It seems that you and many people including me have thought of the same strategy, a pity that viabtc is asking me to upload my ID so that I can deposit bitcoin in their exchange, I have no problem in delivering my ID, but it will take time to They approve my ID so I gave up and decided to keep my few btc in other exchanges.

Now comes the question that will not let me relax, how much will it be that bitcoin crash will be worth?

So far bitcoin crash has survived in the $400 area, with so many greedy merchants, will I see $ 1 per bitcoin crash? I want to buy cheap coins for a future to have good profits

[becoin]

Yes. In my math, $403 is exactly between 1% and 2% of $2759.

BTCC crooks don't have that much money to support such a price. Unless, of course, they succeed in stealing bitcoins from noobs as already explained.

[Last of the V8s]

Yes. In my math, $403 is exactly between 1% and 2% of $2759.

BTCC crooks don't have that much money to support such a price. Unless, of course, they succeed in stealing bitcoins from noobs as already explained.

they can pump chinese fiat renminbi into that freak all day long

[BlindMayorBitcorn]

Yes. In my math, $403 is exactly between 1% and 2% of $2759.

BTCC crooks don't have that much money to support such a price. Unless, of course, they succeed in stealing bitcoins from noobs as already explained.

they can pump chinese fiat renminbi into that freak all day long

I'd really like to ignore this as a non-event. But I can't because it isn't because somebody will pump that freak all day long.

@becoin
Greed always finds a way

[becoin]

Yes. In my math, $403 is exactly between 1% and 2% of $2759.

BTCC crooks don't have that much money to support such a price. Unless, of course, they succeed in stealing bitcoins from noobs as already explained.

they can pump chinese fiat renminbi into that freak all day long

Renminbi is useful only for the Chinese. There is capital control in China. I need dollars or euros. Who will pump dollars or euros in BTCCrooked so that I can sell it?

[European Central Bank]

Yes. In my math, $403 is exactly between 1% and 2% of $2759. </s>

https://coinmarketcap.com/currencies/bitcoin-cash/

BTCC is not a BC equivalent.

that's because it's not a real market on a rigged exchange controlled by the people proposing it that no one trusts.

that price is just tad untrustworthy.

[gembitz]

no fork BTCBTCBTCBTCBTCBTC BTColtcutterzzz $3333      weeeeeeeeeeeeeeeeeeee

[Last of the V8s]

Yes. In my math, $403 is exactly between 1% and 2% of $2759.

BTCC crooks don't have that much money to support such a price. Unless, of course, they succeed in stealing bitcoins from noobs as already explained.

they can pump chinese fiat renminbi into that freak all day long

Renminbi is useful only for the Chinese. There is capital control in China. I need dollars or euros. Who will pump dollars or euros in BTCCrooked so that I can sell it?

jbreher, cypherdoc, adam, all the other butards I quoted earlier on today.https://bitcointalk.org/index.php?topic=178336.msg20442461#msg20442461
some exchange will help you no doubt, maybe Kraken

[becoin]

Yes. In my math, $403 is exactly between 1% and 2% of $2759.

BTCC crooks don't have that much money to support such a price. Unless, of course, they succeed in stealing bitcoins from noobs as already explained.

they can pump chinese fiat renminbi into that freak all day long

I'd really like to ignore this as a non-event. But I can't because it isn't because somebody will pump that freak all day long.

@becoin
Greed always finds a way

That's what I'm saying. Greed will force noobs to split their wallets and try to sell the fork. Instead they'll end up selling their bitcoins for peanuts. That's the game of the crooks.

[JayJuanGee]

I remember in the past seeing various tools that margin traders use to measure the quantity of margin trades that might be outstanding in one direction or another.  Currently, I do not have access to bitfinex margin pages because I am a USA citizen.  Does anyone have links to websites that measure the extent to which margin trade positions might be outstanding in one direction or another?

[bones261]

I remember in the past seeing various tools that margin traders use to measure the quantity of margin trades that might be outstanding in one direction or another.  Currently, I do not have access to bitfinex margin pages because I am a USA citizen.  Does anyone have links to websites that measure the extent to which margin trade positions might be outstanding in one direction or another?

https://www.bfxdata.com/positions/btcusd

[BlindMayorBitcorn]

Yes. In my math, $403 is exactly between 1% and 2% of $2759.

BTCC crooks don't have that much money to support such a price. Unless, of course, they succeed in stealing bitcoins from noobs as already explained.

they can pump chinese fiat renminbi into that freak all day long

I'd really like to ignore this as a non-event. But I can't because it isn't because somebody will pump that freak all day long.

@becoin
Greed always finds a way

That's what I'm saying. Greed will force noobs to split their wallets and try to sell the fork. Instead they'll end up selling their bitcoins for peanuts. That's the game of the crooks.

That might be the game of some of the crooks, but most of the names on that list have conviction and big bags. I think you underestimate this.

[JayJuanGee]

So how you guys liking that back-and-forth wash trading?

Feels just like a groundswell of overwhelming public demand, doesn't it?  At this rate we'll be over $5K in no time!  /s

Still wash trading?

Or your butt-hole starting to pucker up on those shorts?

Nah, I don't trade. I'm hedged either way the market goes. And of course as a perma bull I'm rooting for Bitcoin to go to the moon so that I can retire early.  

But notice one small thing.

It. Still. Hasn't. Broken. The. All. Time. High. Since. Over. Six. Weeks.

Until that happens, the game hasn't changed much. Other than the whales and traders sucking out all liquidity from the exchanges and the market being so razor thin. Hell, right now you could toss in a satoshi and sneeze on it, and the market would move.

Yeah.. it is quite tragic that bitcoin has not broken ATH for 6 weeks.  In other words, we are fucked.