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

[machasm]

ROFL!

1.7% daily interest for lending on Poloniex! xD

Yeah it's crazy is't it?!?! Only 1500 odd BTC on offer, lowest I've seen from memory

Maybe peeps are taking their coins off the exchange in advance for the aug 1 chain split and there isn't enough btc to lend?

[Wexlike]

You should also get BCC for every BTC that you are lending from someone, this is at least how Kraken is doing it. This explains the high insane interest rate.

[olseh]

ROFL!

1.7% daily interest for lending on Poloniex! xD

Yeah it's crazy is't it?!?! Only 1500 odd BTC on offer, lowest I've seen from memory

Maybe peeps are taking their coins off the exchange in advance for the aug 1 chain split and there isn't enough btc to lend?

Pretty much, plus I don't think Polo are crediting BCC to any BTC held after the split so that's forcing people to take coins off the exchange

[oda.krell]

Posted March 13th

Scariest shit I read all day.... to think we just ended up here is naive.

https://twitter.com/bergealex4/status/841240903503114241

Hahaha this is so bad   I'm no fan of GS but they would never produce something that childish, this was written by a simpleton  

Entertaining pro Blockstream-Core propaganda. Now can I have my two seconds of life back please

Clearly you don't know the language used in the internal communication of multinational corporations, such as:

> Open door for external actors w/ no skin in game to disrupt incentives.

/s

[infofront]

Unfortunately, Ver can use bitcoin.com to shill for BCC and make people think BCC=bitcoin. Also, many in the media still know him as Bitcoin Jesus and think he's something of an official spokesman for Bitcoin.

And he and Jihan have a lot of money, of course.

Theye could definitely fuck things up.

[becoin]

And he and Jihan have a lot of money, of course.

Good.
By selling the fork we shall legally transform their money into more bitcoins on our wallets.

[bones261]

ROFL!

1.7% daily interest for lending on Poloniex! xD

Yeah it's crazy is't it?!?! Only 1500 odd BTC on offer, lowest I've seen from memory

Maybe peeps are taking their coins off the exchange in advance for the aug 1 chain split and there isn't enough btc to lend?

Pretty much, plus I don't think Polo are crediting BCC to any BTC held after the split so that's forcing people to take coins off the exchange

Wow, there are only 591 BTC available for lending on Polo, and the lowest lending offer is now 3.3666%. Too bad I moved my BTC that I was lending over a week ago, to safety, in private keys that I control. I guess better be safe than sorry.

[leowonderful]

I wonder what the price of BCC + BTC combined will be when BCC comes out. Hopefully price on BTC doesn't crash too hard or goes down that much at all. It's pretty much more BTC for all, though, hopefully Jihan and Friends will keep price up long enough for us to get a decent price for it. I expect an ETC-like price situation.

[Torque]

Wow, there are only 591 BTC available for lending on Polo, and the lowest lending offer is now 3.3666%. Too bad I moved my BTC that I was lending over a week ago, to safety, in private keys that I control. I guess better be safe than sorry.

Hence the ultra thin float right now. Price can move majorly in either direction with very little money, but if exchanges don't have enough bitcoin then shorting becomes difficult.

Which is why I don't trust markets that thin out like this. It doesn't represent true demand mechanics. In Nov 2013 at the height of the last rally, it was clear that the pumpers had sucked out all liquidity because the price was jumping up and down hundreds of dollars (20-30% moves) in a single day.

Caveat emptor.

[jojo69]

http://www.zerohedge.com/news/2017-07-28/bitcoin-civil-war-over

the most logical way to defend against the threat from a market psychology perspective is to hold onto your BCC even if you think it’s garbage. You have to understand that if bad actors want to make Bitcoin look bad and their alt-coin look good, price will be a huge part of their strategy.

It might make sense to not dump your BCC right away, which could let bad actors control the entire float. If you do that, they can then dump their BTC on the market while controlling all the BCC and ensure it goes up while Bitcoin drops. I’m not saying this is my assumption, I’m saying its possible. As such, hold on to your BCC to prevent them from executing this strategy. Then if BTC does drop as BCC rises, you have dry powder to take the other side of the trade. The risk in this strategy is that BCC crashes right away and never recovers and you lose that free money, but if that happens you’ll still probably benefit from a rising BTC price.

[jbreher]

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

And you call that math?!?!? Jesus, I wonder how many 'traders' trade by such math 

'zackly

[becoin]

I wonder what the price of BCC + BTC combined will be when BCC comes out. Hopefully price on BTC doesn't crash too hard or goes down that much at all.

Either way is very profitable. If price of fork is higher than we expect we shall get more of Jihan's and Ver's money when we sell it. if price of bitcoin is lower than we expect we can buy more bitcoins.

[Punisher1314]

Well, I have a dilemma about what to do with the BCC that we will receive after the HF, and those are the options i can see:


a) Dump the shit for real BTC, ASAP!

b) Wait a little, until (...) happens, or markets stabilizes, and then dump the shit.

c) Hodl. Elites want BCC to be the new Bitcoin, and it will absorb almost all the market cap of the real Bitcoin (ok, yeah, sometimes i have conspiranoic nightmares with all this kind of stuff). Or simply hold because it is free.


What would you guys choose?

[Torque]

Well, I have a dilemma about what to do with the BCC that we will receive after the HF, and those are the options i can see:

a) Dump the shit for real BTC, ASAP!

b) Wait a little, until (...) happens, or markets stabilizes, and then dump the shit.

c) Hodl. Elites want BCC to be the new Bitcoin, and it will absorb almost all the market cap of the real Bitcoin (ok, yeah, sometimes i have conspiranoic nightmares with all this kind of stuff). Or simply hold because it is free.

What would you guys choose?

c

[Punisher1314]

Well, I have a dilemma about what to do with the BCC that we will receive after the HF, and those are the options i can see:

a) Dump the shit for real BTC, ASAP!

b) Wait a little, until (...) happens, or markets stabilizes, and then dump the shit.

c) Hodl. Elites want BCC to be the new Bitcoin, and it will absorb almost all the market cap of the real Bitcoin (ok, yeah, sometimes i have conspiranoic nightmares with all this kind of stuff). Or simply hold because it is free.

What would you guys choose?

c

Thanks Torque, because you think BCC will be the new BTC, or just because it is free and you want to hold and see what happens? Damn, i hate option C because i want more BTC lol

[becoin]

The risk in this strategy is that BCC crashes right away and never recovers and you lose that free money, but if that happens you’ll still probably benefit from a rising BTC price.

Why should I miss that free money? BTC price will rise either way!

I'm not in favor of crashing the fork right away. I'd like to see bigblockers protractedly defend that price and burn more of their bitcoins.

[jbreher]

Posted March 13th

Scariest shit I read all day.... to think we just ended up here is naive.

https://twitter.com/bergealex4/status/841240903503114241

Yeah, right. Further down in the tweetthread, he admits he just pulled it outta his ass.

Think, people - like the vampire squid would really lay out their plan ending with the meme "9. profit". Jeebus, y'all be gullible.

[williamuk]

Interesting position statement on BCC from Paymium. I read it as "if BCCs are worth anything after a few weeks we'll put some work into enabling you to send them to a private wallet"

A Bitcoin fork, BCC (or Bitcoin Cash), is likely to launch on August 1st 2017.

If you do not intend to trade with this new BCC altcoin immediately after the launch, you have nothing to do: we have taken and will take all necessary measures to ensure the security of your funds in Bitcoins.

For this reason, we will pause the processing of Bitcoin deposits and withdrawals from July 31st at 23:00 (GMT +1).

Your funds in BTC will be safe but locked on our platform while we monitor the fork process: we will reactivate deposits and withdrawals as soon as we are certain that these transactions will not be disrupted by the fork.

If you intend to trade with Bitcoin Cash immediately after the August 1st launch, you should withdraw your bitcoins before July 31st, 2017 at 23:00 GMT +1.

We do not intend to list this new BCC altcoin on our platform neither in our wallet nor in our marketplace.

However, should the BCC coins gain value in the weeks following the fork, we would arrange for you to withdraw your BCC coins to a BCC wallet.

[Lincoln6Echo]

Well, I have a dilemma about what to do with the BCC that we will receive after the HF, and those are the options i can see:


a) Dump the shit for real BTC, ASAP!

b) Wait a little, until (...) happens, or markets stabilizes, and then dump the shit.

c) Hodl. Elites want BCC to be the new Bitcoin, and it will absorb almost all the market cap of the real Bitcoin (ok, yeah, sometimes i have conspiranoic nightmares with all this kind of stuff). Or simply hold because it is free.


What would you guys choose?

a) or b)

Well it depends how hard bitmaincoin will be dumped. If it gets dumped hard it maybe makes sense to wait for a little recovery and then dump it.

Makes no sense to hold a centralized shitcoin. It is not even a fork it is an altcoin because of difficulty adjustment.

[Torque]

c) Hodl. Elites want BCC to be the new Bitcoin, and it will absorb almost all the market cap of the real Bitcoin (ok, yeah, sometimes i have conspiranoic nightmares with all this kind of stuff). Or simply hold because it is free.

What would you guys choose?

c

Thanks Torque, because you think BCC will be the new BTC, or just because it is free and you want to hold and see what happens? Damn, i hate option C because i want more BTC lol

I think BTC will remain dominant in the long term. But I recommend holding and being patient because I've learned in life that, when in doubt about the outcome of a situation, the best thing to do is to wait for the smoke to clear and see what's what.

My opinion is that over time BCC will be the poster boy altcoin to BTC that will on occasion get pumped to the moon by the Roger/Jihan/CraigWright camp over and over again in order to attempt to divide the Bitcoin community. They will become like financial terrorists, but they will be doing it really to bleed more money from their hapless followers. Hopefully it won't work as smart people can see through the con.

In the end it's not about what something costs on the market that give it value. It's about is fundamental attributes and core principles.

For example, do you think that SNAP is worth what it reportedly is on the U.S. stock market? Supposedly worth Billions$? A silly phone chat/photo app that makes no money and will never be monetized, like ever?

SNAP is worth absolutely nothing. It's the digital equivalent of Dutch Tulips or Beanie babies. Perceived worth is not real worth.