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

[pumpmydump]

You guys still don't get it, you're still in the denial phase, I'll come back for the butthurt phase that's when you will let me make fun of you

[LewisPirenne]

This is not unlike why Bear Stearns put option had values for a while even though the investment bank had already collapsed.  That is, people cover short and booking profit to get their money out of system before some system wide credit freeze or FED bailout will turn their paper profit into nothing but paper.  When S2X future is almost worthless, you are taking counterparty risk by holding that contract and keeping your BTC on Bitfinex.

Bad example. Put options in the case of a bankruptcy or collapse would have a max value of the strike price since the underlying is effectively 0. A better example would have been to say the call options had value for people wanting to cover their short calls, even though they would be effectively worthless on a now defunct security.

Sorry if there are any misinterpretation, but that was my actual experience at the time for those $5 put option.  People cover them and I presume that people just don't want to hold it till expiry and cover them to get money out of system.

Edit, you are right in that an example that parallel BT2 would be much better from short call (rather than long far OTM put) point of view.  Thanks.  

[bitebits]

Its so obvious to all here that BCH pump is Ver/Wu but probably not to the average investor. Im really disillusioned atmo that a very small group can manipulate an entire market in this way.
He even announced it on twitter before the pump. "#BitcoinCash will win wider adoption than 1MB Segwit Bitoin shortly." 19 hours ago.
Possible with fake money too such as the 30 million tether that was issued a few days ago.

The true irony is that the BCH supporters demand lower transaction fees, but they can't spend BCH at any merchants other than maybe a few obscure ones. Lol. That reality seems to be completely lost on them. Just like the ETH camp, they literally could give two shits that they can't spend ETH anywhere and probably never will be able to.

Think it is ironic as well you can spend your bitcoin anywhere, but the required transaction fee makes you consider twice.

I don’t like the market’s uncertainty which coin is a store of value, although I think it is obvious.

[gembitz]

You guys still don't get it, you're still in the denial phase, I'll come back for the butthurt phase that's when you will let me make fun of you

get what both coins will moon $10,000+ weee

[gembitz]

Its so obvious to all here that BCH pump is Ver/Wu but probably not to the average investor. Im really disillusioned atmo that a very small group can manipulate an entire market in this way.
He even announced it on twitter before the pump. "#BitcoinCash will win wider adoption than 1MB Segwit Bitoin shortly." 19 hours ago.
Possible with fake money too such as the 30 million tether that was issued a few days ago.

The true irony is that the BCH supporters demand lower transaction fees, but they can't spend BCH at any merchants other than maybe a few obscure ones. Lol. That reality seems to be completely lost on them. Just like the ETH camp, they literally could give two shits that they can't spend ETH anywhere and probably never will be able to.

Think it is ironic as well you can spend your bitcoin anywhere, but the required transaction fee makes you consider twice.

I don’t like the market’s uncertainty which coin is a store of value, although I think it is obvious.

Wall Street is hungrey fur corns so i think the market will have no problem absorbing both instruments here we go $7000 btc weee

[bones261]

You guys still don't get it, you're still in the denial phase, I'll come back for the butthurt phase that's when you will let me make fun of you

Well, when and if the "butthurt" phase begins, I can start accumulating again. Just like 2015. Notice my start date on Bitcointalk...that was a good entry point. Too bad my innate skepticism got in the way and I only invested peanuts and hashed away with already obsolete ASICS that I picked up on Ebay.  

[Lionidas]

So Bitcoin cash is just a sandbox for the youngsters to play in who are not serious and just dabbling in this forking on the big boys coins?
Watched as these forked coins -BCH and BTG on one exchange going up 55%+ within the last 24 hours.
And now bitcoin is back down to $6350 this morning.

Something is seriously wrong with that picture.

[sirazimuth]

Oh welll...at least I still got my Bitcoin Gold....

[Rosewater Foundation]

ver better hope the yakuza isn't holding bitcoin..this is dangerous shit

[sirazimuth]

ver better hope the yakuza isn't holding bitcoin..this is dangerous shit

Damn...I had to google yakuza...bet I wasn't the only one....

[AlcoHoDL]

I don't think the idea that's circulating lately, of BTC being a store of value (like gold) and BCH a coin for everyday use (like cash) makes sense. It doesn't make any sense, because, in that case, there's no point for BTC to exist, since BCH can technically be a store of value too. Why have two blockchains for two different types of usage, when one (BCH) can do both?

It's not about usage, but about control. Sad, but true. Human nature at its "finest". One thing's certain: if BTC comes out as the winner in this war, it will be stronger than ever. If not, we'll never see crypto in the same way again.

[Spaceman_Spiff_Original]

Looking back, this BCH move was quite predictable.  Mad at myself that I didn't act accordingly.  Same goes for BTC price post-announcement of SegWit2x cancellation 
Hindsight is 20/20 I guess. 

[Rosewater Foundation]

the foundation will be furious. i did not see this coming

[fabiorem]

ver better hope the yakuza isn't holding bitcoin..this is dangerous shit

He might check his roof for ninjas with uzis.

[Hyperjacked]

It's been fun Bitcoin... Had to trade you for Bitcoin cash yesterday  

[Torque]

It's been fun Bitcoin... Had to trade you for Bitcoin cash yesterday  

Don't you mean for CrocodileTrash?

[bones261]

It's been fun Bitcoin... Had to trade you for Bitcoin cash yesterday  

Don't you mean for CrocodileTrash?

Do it with a smile instead!

[FractalUniverse]

Im not getting why you people are panicking over shitfork.
Its being pumped by few people and their followers, and controlled by several miners. It will come back down - and even if it doesnt, who cares. As some already said, there is no use for other than trading/speculation
as for me, i doubt i will ever use it for transactions

[bones261]

Im not getting why you people are panicking over shitfork.
Its being pumped by few people and their followers, and controlled by several miners. two mining farms. It will come back down - and even if it doesnt, who cares. As some already said, there is no use for other than trading/speculation
as for me, i doubt i will ever use it for transactions

FTFY

[yefi]

You have to be joking?!? Paste the private key of your BTC stash into some internet site web form? This is insanity if you ask me.

Well, if you have a better answer to his question, please share. Otherwise you are just a whining nay sayer.

He had a legitimate concern that was addressed by subsequent posters. The part that was missing, and that should be bolded, is that you create a new wallet and move your coins over before sharing your private key(s). This way you do not risk any BTC.