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

[ragnar0k]

The strange thing here is that despite the massive volumes, crypto market cap is still mostly the same.

Latest move is caused by Wu and Ver selling their BTC stash and buying BCH trash. There is no fiat involved. This is why market cap measured in fiat is the same.

Seriously, how much f***ing bitcoins do they have?! If I had 20BN the last thing I'd do is play stupid crypto wars like this. Go figure.

Moving BTC around in anticipation of BTC bear mode. Look at big alts on 1 day candlesticks, including BCH, they grow after the ATH of BTC.
Take your positions. But these movements don't bother long time hodler.  

Bear mode is possibly maximum 4.5k... So not too far away! Hodling steady alas a bit shaky

Better to sleep over this and see our neighbour ethereum relocating tomorrow
I'll miss it.

[becoin]

I see BCH and BTC both as bitcoin at the moment, and it is not clear to me which one will win.

BCH = Losers

[somac.]

The strange thing here is that despite the massive volumes, crypto market cap is still mostly the same.

Latest move is caused by Wu and Ver selling their BTC stash and buying BCH trash. There is no fiat involved. This is why market cap measured in fiat is the same.

Spot on, and this is why it is being done on a weekend. No funds can get through till Monday, so they are hoping that the incoming funds see the BCH ATH and try to get in on it. Thing is, I'd say they're getting this wrong, new funds won't be wanting to buy BCH at ATH, they'll probably be wanting to buy BTC on this dip, like they intended.

This is also why the mempool doesn't matter that much, fiat transfers to exchanges are not hindered by spamming the mempool.

[EtihadBitcoin]

Something weird is going on.
It drops down below $6180 then back up past $6250 in a second?

That is not normal for even bitcoin.

[BitcoinNewsMagazine]

The strange thing here is that despite the massive volumes, crypto market cap is still mostly the same.

Latest move is caused by Wu and Ver selling their BTC stash and buying BCH trash. There is no fiat involved. This is why market cap measured in fiat is the same.

Spot on, and this is why it is being done on a weekend. No funds can get through till Monday, so they are hoping that the incoming funds see the BCH ATH and try to get in on it. Thing is, I'd say they're getting this wrong, new funds won't be wanting to buy BCH at ATH, they'll probably be wanting to buy BTC on this dip, like they intended.

This is also why the mempool doesn't matter that much, fiat transfers to exchanges are not hindered by spamming the mempool.

But BTC sent to exchanges does. Monday will be interesting. BCH difficulty is forecast to double in 24 hours so miners will switch back to BTC and the memory pool should clear. Lot of coins probably reaching exchange wallets. Could see $5000 if panic selling starts.

[somac.]

Seriously, how much f***ing bitcoins do they have?! If I had 20BN the last thing I'd do is play stupid crypto wars like this. Go figure.

Not as many as you think, that's why they are doing this on a weekend. they couldn't manage it during the week.

[somac.]

But BTC sent to exchanges does. Monday will be interesting. BCH difficulty is forecast to double in 24 hours so miners will switch back to BTC and the memory pool should clear. Lot of coins probably reaching exchange wallets. Could see $5000 if panic selling starts.

BTC is not getting sent to exchanges, mempool is full remember.

Everybody wants to buy bitcoin, because that's all that is in the news day in day out. Altcoins, incl BCH, rarely make the news so less interest in them. This is a dip for buying, the new funds will be buying btc on Monday.

[AZwarel]

This is too much free money to ignore for me. Had to brake some cold storage, split, now am waiting the magical 0.35 ratio, where usually alt-pumps die vs BTC. This is nothing new, i do not get why people panic.

Alts are for getting more BTC, first and foremost, apart maybe from "world's first vapor powered computer" eth (it was shilled in the MSM in the early summer, member?) which is now used for ICO scams in practice - and even crapping the bed on that one occasionally  - , "average Joe" never heard about anything else than bitcoin in the news.

Btw, no wonder BCH did not got dumped to death, it is a real pain in the ass to make the split securely(!), an average user with no tech jargon and only a mobile wallet/sitting coins on coinbase has no chance to execute it properly.

[DaRude]

Unless significant hash power leaves all at once, no effect. On that note when is the next retargeting, most likely that's when they'll act

The thing is nobody is using BCH, their blocks are empty. But let's say that a significant amount of hashing power leaves for good (80% or so) and the users of bitcoin flee because of slow block times for the week or 2 before a difficulty adjustment. Why would they go to bitcoin cash, when they can go to other better and more established alts.

This BCH pump is being driven by only the few whales who support it. Their egos have got to them, they think they are smart, and only make correct moves because they are rich and successful. Because of these egos they believe that if they just build it (pumping the price) everyone will flock to them, its delusional, and borderline sociopathic. They are kind of like the leaders of small cult, the literally think they are gods and can do no wrong.

Delusional? Sociopathic... Small cult? Rotflmao

The ones with the egos should have been humble and they know who they are.

The ppl with the hash will decide... 

https://fork.lol/pow/hashrate

This is exactly where you're wrong. And it will be an expensive lesson for you to learn. People decide with $$, people who understand it will find a way to make money on all of this silliness

[Rosewater Foundation]

This is too much free money to ignore for me. Had to brake some cold storage, split, now am waiting the magical 0.35 ratio, where usually alt-pumps die vs BTC. This is nothing new, i do not get why people panic.

Alts are for getting more BTC, first and foremost, apart maybe from "world's first vapor powered computer" eth (it was shilled in the MSM in the early summer, member?) which is now used for ICO scams in practice - and even crapping the bed on that one occasionally  - , "average Joe" never heard about anything else than bitcoin in the news.

Btw, no wonder BCH did not got dumped to death, it is a real pain in the ass to make the split securely(!), an average user with no tech jargon and only a mobile wallet/sitting coins on coinbase has no chance to execute it properly.

get used to it. btg is next

[Gab0]

maybe because the mempool is near an ATH?
https://blockchain.info/charts/mempool-size?timespan=all

as it has been a load of times in past and we all know who's doing it and why they're doing it.

What is relevant there, is that bitcoin should be resistant to such attacks.

it is. come back next week

If it were we would not be experiencing an ATH of unconfirmed transactions, and we would not be paying fees of $ 9 (155,940 satoshis according to https://bitcoinfees.earn.com) to confirm a transaction in the next block.

[DaRude]

The strange thing here is that despite the massive volumes, crypto market cap is still mostly the same.

Latest move is caused by Wu and Ver selling their BTC stash and buying BCH trash. There is no fiat involved. This is why market cap measured in fiat is the same.

Seriously, how much f***ing bitcoins do they have?! If I had 20BN the last thing I'd do is play stupid crypto wars like this. Go figure.

Moving BTC around in anticipation of BTC bear mode. Look at big alts on 1 day candlesticks, including BCH, they grow after the ATH of BTC.
Take your positions. But these movements don't bother long time hodler.  

Bear mode is possibly maximum 4.5k... So not too far away! Hodling steady alas a bit shaky

Better to sleep over this and see our neighbour ethereum relocating tomorrow
I'll miss it.

We're talking about control of THE crypto currency, it's not a card game anymore. Lot's and lots of 0s at play here

[Rosewater Foundation]

maybe because the mempool is near an ATH?
https://blockchain.info/charts/mempool-size?timespan=all

as it has been a load of times in past and we all know who's doing it and why they're doing it.

What is relevant there, is that bitcoin should be resistant to such attacks.

it is. come back next week

If it were we would not be experiencing an ATH of unconfirmed transactions, and we would not be paying fees of $ 9 (155,940 satoshis according to https://bitcoinfees.earn.com) to confirm a transaction in the next block.

stop spamming txs then. deceiver
deceiver!!!1

[AZwarel]

This is too much free money to ignore for me. Had to brake some cold storage, split, now am waiting the magical 0.35 ratio, where usually alt-pumps die vs BTC. This is nothing new, i do not get why people panic.

Alts are for getting more BTC, first and foremost, apart maybe from "world's first vapor powered computer" eth (it was shilled in the MSM in the early summer, member?) which is now used for ICO scams in practice - and even crapping the bed on that one occasionally  - , "average Joe" never heard about anything else than bitcoin in the news.

Btw, no wonder BCH did not got dumped to death, it is a real pain in the ass to make the split securely(!), an average user with no tech jargon and only a mobile wallet/sitting coins on coinbase has no chance to execute it properly.

get used to it. btg is next

Oh, i am not complaining 
BTG might be another 2 years salary for free, for a few hours of learning/work/trading.
It is fascinating, most people - including F&F - would rather watch TV/do shit, than spend a few (hundred) hours to learn about crypto and profit from these things. Well, survival of the fittest, i guess.

[babanana]

Crazy Money. Wow.

Go higher. I'll give my wife a beautiful new house. 

[AZwarel]

Crazy Money. Wow.

Go higher. I'll give my wife a beautiful new house. 

Or, give your house a beautiful new wife? 

[gentlemand]

Crazy Money. Wow.

Go higher. I'll give my wife a beautiful new house.  

I still think they're going to try and best 0.5, but the .35 or .035 observation is a very interesting one. That's a figure that's popped up with numerous alts as a top.  

[bones261]

Wow, BCH blocks incoming at more than 1 per minute. At this rate, the difficulty with be bumped up 4x in less than 12 hours. If they want this heavy hashrate to continue seamlessly to their hardfork, they will need to pump BCH up to .35 BTC at least. GO ROGER. GO JIHAN!

[EtihadBitcoin]

Bitcoin Cash is killing bitcoin every minute it goes up.

Bitcoin price is now at $6100.

It will hit $5000 before the next fork is about to happen.

Prepare yourselves!

[gembitz]

Wow, BCH blocks incoming at more than 1 per minute. At this rate, the difficulty with be bumped up 4x in less than 12 hours. If they want this heavy hashrate to continue seamlessly to their hardfork, they will need to pump BCH up to .35 BTC at least. GO ROGER. GO JIHAN!

i just went all in BCH weee