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

[yefi]

Well it's got 14 times more price. (of 12 months ago).

Not different times. A spike is a spike and it's heading back to 2k or lower for consolidation before the next wave.

Just be glad if it's 2000 and not 200.

I'd wait for the top before calling the bottom?

Also, I seem to recall chartists discounting as remote the possibility that we'd reach these levels on this bull run.

[gentlemand]

I like the one guys reply.
"Always ask for evidence" - Sure. Please provide evidence that you are solvent.

Lol

From the same thread - "Burden of proof is with the people making accusations not the other way around"

I've seen this thrown back multiple times by Bitfinex when asked about this.

It doesn't quite compute. People are making an accusation based on a complete lack of evidence to refute it and BFX are only too happy not to provide it.

[jojo69]

wave 5 of this motherfucker is going to be a beast

[Torque]

I like the one guys reply.
"Always ask for evidence" - Sure. Please provide evidence that you are solvent.

Lol

From the same thread - "Burden of proof is with the people making accusations not the other way around"

I've seen this thrown back multiple times by Bitfinex when asked about this.

It doesn't quite compute. People are making an accusation based on a complete lack of evidence to refute it and BFX are only too happy not to provide it.

The funny thing is though, I'm not sure any of these exchanges are fully solvent. They could all be running fractional reserves. Or leveraging user account coins against other investments. Hence the reason why the whole "yearly independent bitcoin audit" thing seemed to have died 2-3 years ago.

[bones261]

I like the one guys reply.
"Always ask for evidence" - Sure. Please provide evidence that you are solvent.

Lol

From the same thread - "Burden of proof is with the people making accusations not the other way around"

I've seen this thrown back multiple times by Bitfinex when asked about this.

It doesn't quite compute. People are making an accusation based on a complete lack of evidence to refute it and BFX are only too happy not to provide it.

The burden of proof should always fall on the party that can show the affirmative. Bitfinex can prove they are solvent.

[gentlemand]

The funny thing is though, I'm not sure any of these exchanges are fully solvent. They could all be running fractional reserves. Or leveraging against other investments. Hence the reason why the whole "yearly independent bitcoin audit" thing seemed to have died 2-3 years ago.

There is one that's kept at it - https://blog.coinfloor.co.uk/post/166790047656/provable-solvency-report-43-october-2017

Not a market mover though.

The burden of proof should always fall on the party that can show the affirmative. Bitfinex can prove they are solvent.

I don't think anyone doubts they don't have (real) money pouring out of their arse. Does Tether?

My gut feeling is that it probably is backed by real dollars, but the process with which it's achieved is so labyrinthine and snakes across so many accounts and weird little hacks that we may never know.

And regardless of that there's got to be a point where someone American decides that particular party should end no matter what.

[BTG-BTC]

Beware of Bitfinex!

I had withdrawn everything from them weeks ago. The writings on the wall...
But still hat to use them to buy Iota (what I recommend to everybody though).

My last Iota withdrawals are still pending, more than 5 hours from approval. Iota transactions are instant.
I have opened a support ticket etc. No reply, of course.

I recommend everybody to withdraw everything from Bitfinex, if still possible!!

https://twitter.com/bitfinex/status/932287734152081408

I like the one guys reply.
"Always ask for evidence" - Sure. Please provide evidence that you are solvent.

Lol

I will withdraw all my BTG ...

[HairyMaclairy]

Beware of Bitfinex!

I had withdrawn everything from them weeks ago. The writings on the wall...
But still hat to use them to buy Iota (what I recommend to everybody though).

My last Iota withdrawals are still pending, more than 5 hours from approval. Iota transactions are instant.
I have opened a support ticket etc. No reply, of course.

I recommend everybody to withdraw everything from Bitfinex, if still possible!!

I have to say, the populist campaign against Bitfinex and Tether smells the same as the Bitcoin Cash “flippening” event the previous weekend and the failed Segwit 2X fork this weekend.

I am predicting a massive DDOS attack against BFX this coming weekend (or similar attack). 

I also note that I withdrew some BTC from Bitfinex yesterday and it cleared on the first block mined. 

[HairyMaclairy]

I must have forgotten to save the link to the tracking of coinbase user accounts. I think it was Torque who posted it. Anyone kind enough to share it again.

Hey man! Yeah, they have a tally right on their home page, just scroll down a bit where it says "customers served". Currently at 12.8M accounts. It looks like they added ~400K accounts in just about the past week or two. I'm hoping they can average ~1M new accounts per month all through next year.

Thanks, you had found and posted a historical chart as well. Was hoping to see this to get an idea of user adoption on a time scale. If you don't have it saved, I'll just scroll through your posts for the past month or so.

Here's the only one I've seen. I'm not sure where you can find a live updated version.

Thanks.  Now to work out if it is leading or lagging.

[Ibian]

Beware of Bitfinex!

I had withdrawn everything from them weeks ago. The writings on the wall...
But still hat to use them to buy Iota (what I recommend to everybody though).

My last Iota withdrawals are still pending, more than 5 hours from approval. Iota transactions are instant.
I have opened a support ticket etc. No reply, of course.

I recommend everybody to withdraw everything from Bitfinex, if still possible!!

Dude. They stole a third of everything people had deposited with them a while back. I don't feel sorry for people who lose money with them after that, I point and laugh so others can learn from your example.

[jojo69]

RoomBot, no

bad RoomBot

[jonoiv]

Hmmm a little oversold!  

[BlindMayorBitcorn]

Hmmm a little oversold!  

Man, you went bust 8000 pages ago.
https://bitcointalk.org/index.php?topic=178336.msg10158703#msg10158703

[RoomBot]

Nobody is for censorship, but if you think you can have "discussion" with jbreher you are welcome to try it yourself. He just spams nonsense based on pulling what is being said out of context. That's reflected in his style of writing where he randomly quotes dozen of posts, and then using that to avoid any reasonable argument. If that kind of "discussion" is forced elsewhere it is not a loss, it's a gain IMHO.

+1 for moderators.

You can be your own moderator using the ignore button.

For the same purpose I use as example a Picasso's painting. It's just some dry paint on a board, total value $30, but it's worth millions. I like it because beside its price the number of picassos's painting is limited exactly like bitcoins, and the total capitalizations are alike.

I can make a digital copy of the Picasso painting and call it Picasso Cash. I even print the piece on an 8 times larger piece of canvas. This certainly reduces the value of the legacy Picasso painting to zero and makes me the true Picasso.

Excellent analogy!

Nice.... But it would have been way better if the monalisa of BCH were "ecce homo restoration" style (http://www.nytimes.com/2012/08/24/world/europe/botched-restoration-of-ecce-homo-fresco-shocks-spain.html). That's exactly how I do visualize that fork/code

[TERA2]

So far this year since July bitcoin price has stayed within the channels of this pitchfork drawn on a log scale chart:

The trend lines suggest a mid-term top around $9000 followed by a correction back to $7500. Price could also correct back the the mid-line at $6500. Where it gets interesting is if price breaks through the top trend line. Also something to keep in mind is January tends to be a down month, so I am expecting a rally into middle of December then some profit taking. 

I cringe whenever someone talks about profit taking in regards to exchanging bitcoin for fiat. Bitcoin is not a stock. I don't know how people sleep at night with their money in fiat.

You have to be hedged and prepared for things to turn around. I could not sleep if I was either all fiat or all bitcoin. I prefer to stay about half and half and constantly regenerate whatever coins I sold with altcoin trading.

[explorer]

So far this year since July bitcoin price has stayed within the channels of this pitchfork drawn on a log scale chart:

The trend lines suggest a mid-term top around $9000 followed by a correction back to $7500. Price could also correct back the the mid-line at $6500. Where it gets interesting is if price breaks through the top trend line. Also something to keep in mind is January tends to be a down month, so I am expecting a rally into middle of December then some profit taking. 

I cringe whenever someone talks about profit taking in regards to exchanging bitcoin for fiat. Bitcoin is not a stock. I don't know how people sleep at night with their money in fiat.

You have to be hedged and prepared for things to turn around. I could not sleep if I was either all fiat or all bitcoin. I prefer to stay about half and half and constantly regenerate whatever coins I sold with altcoin trading.

I thought you quit trading for good, due to the not sleeping part.  Good that you've found a balance you can work with!

[TERA2]

So far this year since July bitcoin price has stayed within the channels of this pitchfork drawn on a log scale chart:

The trend lines suggest a mid-term top around $9000 followed by a correction back to $7500. Price could also correct back the the mid-line at $6500. Where it gets interesting is if price breaks through the top trend line. Also something to keep in mind is January tends to be a down month, so I am expecting a rally into middle of December then some profit taking. 

I cringe whenever someone talks about profit taking in regards to exchanging bitcoin for fiat. Bitcoin is not a stock. I don't know how people sleep at night with their money in fiat.

You have to be hedged and prepared for things to turn around. I could not sleep if I was either all fiat or all bitcoin. I prefer to stay about half and half and constantly regenerate whatever coins I sold with altcoin trading.

I thought you quit trading for good, due to the not sleeping part.  Good that you've found a balance you can work with!

I did quit trading btc/usd and didnt do any trading at all for about 18 months but then eventually I got into altcoins which is much easier and I can get out and turn the chart off whenever I want. The only thing I do with fiat is sell permanently to keep my 50/50 ratio.

[jonoiv]

Hmmm a little oversold!  

Man, you went bust 8000 pages ago.
https://bitcointalk.org/index.php?topic=178336.msg10158703#msg10158703

I did indeed,  then i invested in siacoin and syscoin from next to nothing.  did quite well 

[BlindMayorBitcorn]

Hmmm a little oversold!  

Man, you went bust 8000 pages ago.
https://bitcointalk.org/index.php?topic=178336.msg10158703#msg10158703

I did indeed,  then i invested in siacoin and syscoin from next to nothing.  did quite well 

Congratulations I'm sure.

In other news, I think I'm gonna try to dump bgold tomorrow. I think it might be shit and dying. Thoughts?

[Icygreen]

I must have forgotten to save the link to the tracking of coinbase user accounts. I think it was Torque who posted it. Anyone kind enough to share it again.

Hey man! Yeah, they have a tally right on their home page, just scroll down a bit where it says "customers served". Currently at 12.8M accounts. It looks like they added ~400K accounts in just about the past week or two. I'm hoping they can average ~1M new accounts per month all through next year.

Thanks, you had found and posted a historical chart as well. Was hoping to see this to get an idea of user adoption on a time scale. If you don't have it saved, I'll just scroll through your posts for the past month or so.

Here's the only one I've seen. I'm not sure where you can find a live updated version.

Too bad, I thought it was a live version. Anyhow I guess this will have to do for historical. Snapshots from the waybackmachine  https://web.archive.org/web/*/https://www.coinbase.com/about
Looks like coinbase (according to them) have registered 400K users in the last week! 
Lift off?