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

[Elwar]

It will be interesting to see which dormant BTC addresses move to sell their Bcash tokens.

Will give a better idea of which addresses are dead and which are just hodling.

[1715082346]

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[1715082346]

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[FractalUniverse]

In other news, WannaCry ransom coins on the move...

I was wondering if bitcoins from BTC-e wallets were used to get BCHs as well. They could  repay back bitcoins to all their clients and still keep some nice pocket change

[Ludwig Von]

Just changed my BCC for BTC at 0.145 rate. Without cost or exchange risks... . Might be not the most profitable action, but I can see no reason why BCC would have any significant advantage over BTC.

where?

At the small, very underestimated freebitco... . This was only possible for balances held with them before July 31.

[empowering]

Finex update


BCH pairs are now available for margin trading
Announcements > BCH Distribution Update
August 02, 2017
BCH Distribution Update

Bitcoin Cash (BCH) distributions have been calculated for qualifying Bitfinex users, and corresponding balances have been credited. Balances were aggregated across wallets with the resulting BCH being credited to each user’s Exchange Wallet.

What follows is an explanation of the calculations and adjustments used for determining the distribution coefficient.

The Numbers

After the fork, Bitfinex held 101,798.8855 BCH to distribute coming from 131,237.8562 BTC in settled wallet balances and -29,438.9707 BTC in unsettled margin positions, resulting in a distribution coefficient of 0.7757.

However, after adjustments for manipulation attempts (outlined below), the final coefficient used for distributing BCH was 0.8539

The Situation

The intent of the BCH distribution mechanism was to protect lenders who were already locked into loans at the time of the announcement and to avoid distributing negative balances to shorts on an uncertain value of an unproven digital asset.

With this intent in mind, the BCH tokens were distributed with an adjusting factor to account for long/short imbalances in gross margin positions. Accordingly, as shorts would not have to ‘pay’ BCH, we believe it was fair and symmetrical to not credit margin longs, yielding an adjusting factor that historically seldom varies more than 10% when compared with gross balances.

After the methodology announcement on July 27th, several accounts began large-scale manipulation tactics in an attempt to obtain BCH tokens at the expense of exchange longs and lenders on the platform, causing the distribution coefficient to artificially plummet.

We have determined that this kind of manipulation - including wash trading and self-funding shorts - is in violation of Bitfinex’s terms of service. Those who intended to take unfair advantage of the circumstances surrounding the BCH distribution at the expense of other users have been sanctioned accordingly.

The Resolution

Upon careful review and analysis, we have decided to disallow any hedged BTC balances in excess of any such hedged balances that may have existed at the time of the July 27th distribution announcement. While this may be disappointing to some, it is welcome news to the many users with bona fide BTC exposure through settled wallet balances. This adjustment increases the distribution coefficient from 0.7757 to 0.8539.

We do not take this action lightly. The inadequate timelines imposed upon Bitfinex forced swift action when addressing and remediating this situation. Our purpose has been to distribute all BCH to our users in the fairest way possible. Given the aforementioned restrictions, with our corrective actions, we believe that we have made good on that promise.

The Future

The next step is to monitor the forked network and open BCH withdrawals. We expect BCH withdrawals will be opened within the next 24 hours.

Regarding the possibility of adding BCH trading pairs, we continue to monitor the market. BCH deposits will only be enabled if and when BCH markets are created.

We will have another update within the next 48 hours to address these potential next steps.

[empowering]

..... the gates are going to open soon....

[600watt]

It will be interesting to see which dormant BTC addresses move to sell their Bcash tokens.

Will give a better idea of which addresses are dead and which are just hodling.

please excuse my probably stupid question:

do btc need to be moved in order to claim bcash? is there a deadline until this needs to be done or can one claim bcash let´s say in 2 years? 5 years?

[European Central Bank]

please excuse my probably stupid question:

do btc need to be moved in order to claim bcash? is there a deadline until this needs to be done or can one claim bcash let´s say in 2 years? 5 years?

nope but to move the bcash you have to expose your private keys. that would be a very stupid thing to do with an unknown wallet. anyone redeeming them should move their btc out before doing so.

assuming your btc was in the wallet on the fork date, the bcash will always be linked to those private keys.

[Denker]

It will be interesting to see which dormant BTC addresses move to sell their Bcash tokens.

Will give a better idea of which addresses are dead and which are just hodling.

please excuse my probably stupid question:

do btc need to be moved in order to claim bcash? is there a deadline until this needs to be done or can one claim bcash let´s say in 2 years? 5 years?

If Bcash should exist for several years you can claim it at any time. So no deadline!
To redeem your Bcash it is recommended to move your BTC to a completely new created wallet before using the old private keys to import them into a Bcash wallet! -> security reasons
There are several instructions out there how to do it properly. Theymos also created a thread about that which I recommend to read.

https://bitcointalk.org/index.php?topic=2059111.0

[julian071]

FUCK YEAH got my BTC I made from Bitcoin Crash. Fucking amazing. So much free money!! Bought a truly excellent bottle of champagne, gonna celebrate with my GF tonight =D

https://youtu.be/gKw5mBh4rYs

[soullyG]

please excuse my probably stupid question:

do btc need to be moved in order to claim bcash? is there a deadline until this needs to be done or can one claim bcash let´s say in 2 years? 5 years?

nope but to move the bcash you have to expose your private keys. that would be a very stupid thing to do with an unknown wallet. anyone redeeming them should move their btc out before doing so.

assuming your btc was in the wallet on the fork date, the bcash will always be linked to those private keys.

Like ECB said, the Bcash will always be linked to those private keys..but the longer you wait, the more chance there is that Bcash $ value will plummet (unless you think the value will rise from here)

[empowering]

....... soooooo

Bitfinex has now enabled margin trading for BCH

But not opened up deposit wallets yet

Cannot help but still think this is pump and dump and dump and dump.

These closed loop exchanges are messing with the price discovery- eliminating arbitrage opportunity
and simultaneously benefiting those with coins on the exchanges - those that wished to do so have been able to sell their BCH or part of. In fact the wave up and correction on Finex gave many a chance to almost double their BCH
in a day- and this ain't over yet.

It's gotta get messy when they open deposit wallets on the exchanges.

Crazily enough - I have heard of people that stayed in fiat during the fork- and
then after fork bought BTC and BCH- mental.

Yes, many people that started purchasing BCH made some easy profits. I sold my BCH on kraken for 175 euro a piece... never expected it to get up to 600 euro's the next day

Yeah - so far I have had fun with my airdrop coin..

Now that margin trading is open - the temptation to load up on collateral on finex
and go short BCH - at its next pump- in time for when they open deposit wallets - is VERY a very strong temptation even though I rarely go short - this maybe one of those rare occasions TBH - contemplating it.

https://www.bitfinex.com/posts/213

Can I use my BCH as margin collateral?
BCH will not be eligible as collateral for margin positions.
...but at BFX, our rules changes according to our moods..

So it appears one can trade on Margin- though not use the underlying BCC as collateral at present

:/

[FractalUniverse]

empowering> I was thinking about shorting it myself, but its very dangerous before bch deposits are allowed. bitcoincash camp can have millions of dollars parked on exchanges and pump it where they want, as long as exchanges are closed for new cashcoins deposits. Some exchanges may be manipulating price in their own interest as well. (they received load of BCH too)

[Wexlike]

FUCK YEAH got my BTC I made from Bitcoin Crash. Fucking amazing. So much free money!! Bought a truly excellent bottle of champagne, gonna celebrate with my GF tonight =D

https://youtu.be/gKw5mBh4rYs

Enjoy !

[empowering]

empowering> I was thinking about shorting it myself, but its very dangerous before bth deposits are allowed. bitcoincash camp can have millions of dollars parked on exchanges and pump it where they want, as long as exchanges are closed for new deposits. Some exchanges may be manipulating price in their own interest as well. (they received load of BTH too)

Oh for sure - I agree- in fact somewhat counting on it...

Not shorting from here- not yet at least... as you say too risky.

I am looking to see if it gets pumped before the deposit wallets are enabled - all depends what happens but
for sure it's risky.

(Finex also still has issues with regard to depositing/withdrawing fiat unless the BCash crew has had large amounts of funds there for sometime - then they would only have been able to send funds recently onto finex at least via cryptos- further making finex somewhat more of a closed loop at present)

I am wondering if it's going to be hilarious when the deposit wallets are opened - volatility explosion
- or if there will be a concerted effort to prop up the price- the thing is though we are not talking
Millions here- not even hundreds of millions - but billions.

It's a absolute fuck storm in the making - I am somewhat hoping for hilarity

[steelboy]

Do all my Casascius coins have an equal amount of BCH in them too then?

Surely the premium for them must go up even more too! 

[empowering]

Has anyone put any low ball bids on the books?

If so how low did you go ?    is $1-10 range too cheeky 😂😂😜🤔
 

(And what's anyone's  very highest ask on the books for the next 48 hours that they semi expect to get filled?)

[bitcoinvest]

please excuse my probably stupid question:

do btc need to be moved in order to claim bcash? is there a deadline until this needs to be done or can one claim bcash let´s say in 2 years? 5 years?

nope but to move the bcash you have to expose your private keys. that would be a very stupid thing to do with an unknown wallet. anyone redeeming them should move their btc out before doing so.

assuming your btc was in the wallet on the fork date, the bcash will always be linked to those private keys.

Like ECB said, the Bcash will always be linked to those private keys..but the longer you wait, the more chance there is that Bcash $ value will plummet (unless you think the value will rise from here)

OF COURSE those wallets are now empty from BTC!!! i am not crazy i want to sell now that has a price before it gets to the bottom...
i not have illusions that this alt will go up....

[empowering]

BTC/BCH pair during upcoming segwit rally - could this be the perfect storm? 😈⚡️

[williamuk]

Has anyone put any low ball bids on the books?

If so how low did you go ?    is $1-10 range too cheeky 😂😂😜🤔
 

(And what's anyone's  very highest ask on the books for the next 48 hours that they semi expect to get filled?)

I did (~$1) but failed to get them, the dust needs to settle. This is not as straightforward as I expected, and neither is btc.

[empowering]

Has anyone put any low ball bids on the books?

If so how low did you go ?    is $1-10 range too cheeky 😂😂😜🤔
 

(And what's anyone's  very highest ask on the books for the next 48 hours that they semi expect to get filled?)

I did (~$1) but failed to get them, the dust needs to settle. This is not as straightforward as I expected, and neither is btc.

Enjoy the volatility