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

[JimboToronto]

Good morning Bitcoinland.

Still going basically sideways I see, but down a little... currently $4015USD/$5052CAD (Bitcoinaverage).

AltcoinCash also down. I hope I didn't wait too long to convert them to real bitcoins. Oh well, at least I didn't sell when they were worth half what they are now.

Anticipation.

[1714679354]

1714679354

[1714679354]

1714679354

[1714679354]

1714679354

[1714679354]

1714679354

[aesma]

Bob was probably wise to wait to get verified. For the first time I have real money sitting on Poloniex, just waiting for them to go bust. I don't even think the daily limit is real. I was able to withdraw about $800 24 hours ago.

I've been withdrawing 2000$/day for 40 days now, so the limit is definitely real. The amount of BTC I can withdraw every day has gone down a lot, obviously.

I've no problem with KYC rules but they don't validate my profile for some reason.

[noobtrader]

Just to let everyone know that using TREZOR to claim your BCH is a piece of cake. Excellent interface from SatoshiLabs, kudos to them! I claimed them all from both my wallets and transfered directly to Kraken.

I'm a HoDLer, can't do trading, not good at it. But the "free" cash I got from BCH was too tempting for me to not give it a try. I sold all of them when they were slightly past their peak. Now they're dropping nicely, so I can buy them back and be left with free BTC! But I'll wait for a bit to see how it all plays out. Trading is an addictive thing. I may do it with my free BCH, but there's no way I'm touching my original BTC. They're safely stored in my TREZOR and will not be touched unless absolutely necessary.

Have fun guys 'n' gals, and remember --> HoDL!

Sounds like you picked the right HW wallet. I've got a keepkey and they're still trying to figure out how to let us send BCH.

I move the btc into new wallet address, then swipe the old wallet address containing bcc using coinomi.

[jbreher]

Get real!!!

Jihan and Ver and Wright and Garzik and whatever other bigblocker nutjobs, they are not even attempting to work within the Core governance system and to submit actual fucking BIPs... they whine and fart and engage in strategic actions and tactics outside the system (such as spamming the network and creating forks and publicly spreading misinformation), and they do not submit actual code or BIPs through the governance system that already exists (and they make shit up to say that they try to submit.. blah blah blah, and they are really just spreading lies, because they are not making any efforts to make changes through the already existing open governance system, aka core).

Haha ^^ <<shrilling intensifies>>

[jojo69]

look outside guys     

[Last of the V8s]

https://medium.com/@beautyon_/jekyllcoin-the-us-governments-doomed-attempt-to-kill-bitcoin-ee9996c03a94 riled up

[Searing]

On a side note: SkyNet!

https://qz.com/1053799/chinas-bitmain-dominates-bitcoin-mining-now-it-wants-to-cash-in-on-artificial-intelligence/

(Perhaps it will be better to be ruled by our future machine overlords...god knows humanity needs a babysitter...)

[fabiorem]

There is extreme dishonesty in the segwit2x camp, which you can see from trying to exploit the fact that people do not really know Segwit is 4mb, and they try to sell the angle that bitcoin is simply going to be upgraded from 1 to 2mb. The dishonesty is compounded by things like what Bitpay does... "yeah just download this upgrade titled bitcoin" (which runs something else).

And I'm thinking here that was 2mb... if SegWit is already 4mb, then why all this drama?

This seems like a kind of currency war. Maybe are not the PBOC managers who are behind all this trolling?

[AlexGR]

There is extreme dishonesty in the segwit2x camp, which you can see from trying to exploit the fact that people do not really know Segwit is 4mb, and they try to sell the angle that bitcoin is simply going to be upgraded from 1 to 2mb. The dishonesty is compounded by things like what Bitpay does... "yeah just download this upgrade titled bitcoin" (which runs something else).

And I'm thinking here that was 2mb... if SegWit is already 4mb, then why all this drama?

Because blocksize was never the issue.

[fluidjax]

Just so I'm not accused of shilling for BCH, I'd prefer if BCH just died now...but Just a train of thought....

Segwit2X is designed to fail (Garzic is not even implementing Replay Protection) which will ensure Core supporters dislike it, and they can spread there ideas easily to those who are on the fence.
These little pumps in the BCH price are designed to shake out the core supporting BTC holders. They will play with the price until November enticing us to sell in various ways.
Then November comes, Segwit2X fails, Jihan switches to BCH and then the real push starts.
BTC is left with 10-20% of hash power and stalls for a few weeks/months until the difficulty re-calc.

No-body is left to hold back the BCH price and it is pushed dramatically upwards to try and create a viable alternative, Main stream media is saturated with anti BTC articles. BCH announce a bunch of partnerships and deals.

There is more to their plan, than we have seen so far.
Maybe good to pick up some cheap BCH over the next few months to help kill it later.
Everything that has happened so far was easily predictable in advance, this is just the opening (sacrificial) battle, in a war. Perhaps I am giving them too much credit, but, I think they are playing a longer game than we currently see.

[Torque]

On a side note: SkyNet!

https://qz.com/1053799/chinas-bitmain-dominates-bitcoin-mining-now-it-wants-to-cash-in-on-artificial-intelligence/

(Perhaps it will be better to be ruled by our future machine overlords...god knows humanity needs a babysitter...)

What a joke, I wouldn't hold my breath. China never creates anything, only copies or steals IP from others. They will forever be the 'also rans' of the of the rest of the world.

[jbreher]

look outside guys    

Eclipse between C1 and max here in CO.

I'm working from my back porch today. Webex sessions punctuated with viewings. 9 minutes to max. We won't have totality here - we're a bit south of the path of totality. But the creeping darkness is already kind of ... creepy.

[conspirosphere.tk]

No-body is left to hold back the BCH price and it is pushed dramatically upwards to try and create a viable alternative

The question is what will do BCH holders and miners? Hold, sell for fiat, sell for btc?
Likely they will dump bch at the earliest b/c it is clearly not a so credible coin, which means low price, low incentives for miners and so on. Just another shitcoin.

[d_eddie]

I am not a BCH supporter, either. Just an accidental holder like many of us. I think the analysis by fluidjax has merit.
Can any of you keen minds see any flaw in it? I tried to find weak spots, but I didn't manage to uncover much.

Just so I'm not accused of shilling for BCH, I'd prefer if BCH just died now...but Just a train of thought....

Segwit2X is designed to fail (Garzic is not even implementing Replay Protection) which will ensure Core supporters dislike it, and they can spread there ideas easily to those who are on the fence.

This seems spot-on. A serious attempt would have included replay protection by default, from the start.

These little pumps in the BCH price are designed to shake out the core supporting BTC holders. They will play with the price until November enticing us to sell in various ways.

Then November comes, Segwit2X fails, Jihan switches to BCH and then the real push starts.
BTC is left with 10-20% of hash power and stalls for a few weeks/months until the difficulty re-calc.

No-body is left to hold back the BCH price and it is pushed dramatically upwards to try and create a viable alternative, Main stream media is saturated with anti BTC articles. BCH announce a bunch of partnerships and deals.

The idea seems plausible enough, but size does matter. In other words, some quantitative analysis might be useful here (back of the envelope would do). How much does it cost in USD to prop the price up by x USD? How much in BTC to prop up by y BTC? How much has been spent already approximately? Which price level would be a reasonable bait (as seen from the fisher's point of view - that is, JihanVer&co's)?

There is more to their plan, than we have seen so far.
Maybe good to pick up some cheap BCH over the next few months to help kill it later.
Everything that has happened so far was easily predictable in advance, this is just the opening (sacrificial) battle, in a war.

Interesting and, if guessed right, potentially concerning (mild to average worry). The thing is, from September onwards we're all waiting to usher big fresh money in via options, futures and other derivatives. Possibly the long denied ETF will make a comeback. Those guys don't want no BCH though. I think they're only going for the real thing (and possibly ether, so loved by the corporate zombies all around). This would make the fisher's job much harder, and the bait much, much, more expensive. Have you considered this?

Perhaps I am giving them too much credit, but, I think they are playing a longer game than we currently see.

Perhaps you are. You probably are. I hope you are. At any rate, being prepared for the worst is good, so I think this idea deserves some pondering.

[Last of the V8s]

I'm working from my back porch today.

and every day

[BlindMayorBitcorn]

For the first time I have real money sitting on Poloniex, just waiting for them to go bust. I don't even think the daily limit is real. I was able to withdraw about $800 24 hours ago.

Sorry to hear that, friend.

Here's hoping you receive all your fiat soon. (EDIT: Can you convert to BTC and pull out ?)

Poloniex has no on or off-ramps to fiat. The limit applies to BTC withdrawals.

For the record, I'm probably just paranoid, and impatient.

[BlindMayorBitcorn]

Just so I'm not accused of shilling for BCH, I'd prefer if BCH just died now...but Just a train of thought....

Segwit2X is designed to fail (Garzic is not even implementing Replay Protection) which will ensure Core supporters dislike it, and they can spread there ideas easily to those who are on the fence.
These little pumps in the BCH price are designed to shake out the core supporting BTC holders. They will play with the price until November enticing us to sell in various ways.
Then November comes, Segwit2X fails, Jihan switches to BCH and then the real push starts.
BTC is left with 10-20% of hash power and stalls for a few weeks/months until the difficulty re-calc.

No-body is left to hold back the BCH price and it is pushed dramatically upwards to try and create a viable alternative, Main stream media is saturated with anti BTC articles. BCH announce a bunch of partnerships and deals.

There is more to their plan, than we have seen so far.
Maybe good to pick up some cheap BCH over the next few months to help kill it later.
Everything that has happened so far was easily predictable in advance, this is just the opening (sacrificial) battle, in a war. Perhaps I am giving them too much credit, but, I think they are playing a longer game than we currently see.

+1

https://www.reddit.com/r/Bitcoin/comments/6v0gll/why_segwit2x_b2x_is_technically_inferior_to/

[JayJuanGee]

Probably gonna see a dip to 3.5k-3.7k

Lots of people moving their bitcoin's from cold storage to claim and often sell their BCH. After that it becomes very tempting to convert some BTC to fiat and take some fiat profits. Much easier to hold when your BTC are in long term storage then it is when they are in a hot wallet right in front of you.

I opted to hold my new BTC but I considered selling some. Many other will sell a bit and probably regret it later.

You are implying that these BTC casher outers are selling a larger percentage of the total dollar value of their BTC holdings than they receive from the BCH, no?

One thing would be to get more BTC with your BCH, another would be to sell part of the BCH into dollars, and another (that you are assuming) is that they are selling more than the BCH dollar amount, which is a bit larger of an assumption....

On the other hand, I personally believe that it is logical to take profits as the price goes up, but I wouldn't see any reason to cash out more than 10% which is the BCH value (but others will likely conclude in different ways.)

[gentlemand]

Just so I'm not accused of shilling for BCH, I'd prefer if BCH just died now...but Just a train of thought....

There's a lot of sound reasoning there, but if the endgame is the death of Corecoin it also assumes that they assume everyone's going to be happy enough to make the switch to BCH. It's a coin created, financed and controlled by Bitmain who have been enough of a tumour on Bitcoin already.

I can't foresee the majority of Bitcoiners ever willingly running into the arms of someone who has completely and utterly fucked them red raw and entrusting their entire crypto future to someone who's been nothing but a pestilence.

In the process of it gaining huge amounts of ground, a huge amount of Bitcoiners will lose out somewhere.

There are definitely more pumps on the horizon. That's all they'll ever be.

[blockinoutthehaters]

And that's why one shouldn't be worried about coming forks.
A couple of companies trying to hijack bitcoin? Please...
Trust is the name of the game.