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

[kurious]

I did try it, but Chartbuddy was all I could see most of the time.  Good to see you here again Richy.  It's pretty much as anarchic as ever.

I do miss the atmosphere here. It's a bit srs bsns on the big-blocker side of the fence. I just can't frequent here on the regular in good conscience but I'll stick my head back in once in a while

I am sure you'll be most welcome by more than a few here.  Big Blockers get a hard time, yep - it's pretty much heavily pro-Core of course, but it's still fun and all and sundry drop in and pretty much all points of view exist, as they probably should - although the ignore button is still an occasionally welcome option

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[JimboToronto]

Well look who the cat dragged in. Greetings.

We've missed you and Buddy. Buddy must look a lot different with today's prices.

I guess I should head over there more often and see how you, Buddy an Adam are doing. My bad.

Hopefully we're all a lot richer. Cheers.

Unfortunately, the wall observer thread over there never really caught on well and has pretty much stalled out since August. I'm considering other Chartbuddy options to keep him going but he's there more as a placeholder these days.

Just looked in and see you replaced Coinbase with Gdax.

Hope you don't mind me quoting you:

[kurious]

Where is Adam? the original thread opener..

I remember the frenzy when we got to 10.000 pages for this thread, and we wanted the same for the price in usd

Tell him we are about to make it!!! Maybe tomorrow at this pace.

Adam's mantra was always '32K guaranteed' it doesn't seem that crazy now....

[Syke]

wow, it's been ages since I've seen Buddy.

[Icygreen]

This is nearing the 1 week doubling.
I've been considering the possibility that the recent rise could actually be a new tactic attack on BTC. As BLB pointed out, exchanges already aren't exactly cooperating to allow larger transactions currently. What happens when the price rises to a point where hodlers can't ignore recent gains. We will see how high the prices go and if this lack of liquidity does come to pass.
I'm not intending to go FUD, I'm actually quite thrilled with the the movement lately. I'd simply like to speculate on the possibility that this is not "only" user adoption of which a portion absolutely is.

[explorer]

Where is Adam? the original thread opener..

I remember the frenzy when we got to 10.000 pages for this thread, and we wanted the same for the price in usd

Tell him we are about to make it!!! Maybe tomorrow at this pace.

Adam's mantra was always '32K guaranteed' it doesn't seem that crazy now....

One doubling...  If we are topping, and also reaching 32K, I would expect we see it next week, if not before. 

[HairyMaclairy]

WTF is the deal with these korean exchanges, are they a new hub for chinese money or something like that?

That's the theory, yeah.

We are seeing prices in Australia and Korea getting wildly out of line.  Both countries are highly educated, wealthy and agressive early adopters of tech.  Starting to think they are the tip of the arrow.

[TERA2]

Beecoin Crash at 0.072.  Might be a good trade

[_javier_]

yeah.. the 32K !!

and NotLambChop posting Coyote gifs hitting a rock with a $400 price tag.

Classics...  

[HairyMaclairy]

Beecoin Crash at 0.072.  Might be a good trade

More to come.  Still ripening in the sun.

[gentlemand]

WTF is the deal with these korean exchanges, are they a new hub for chinese money or something like that?

No one outside Korea can get fiat in or out. South Koreans probably aren't the biggest fans of Chinese people either.

This Chinese proxy thing is a myth IMO.

The reason Korean exchanges act like China is because they operate like China. And I think the Korean authorities will pull another China themselves fairly soon.

[kurious]

WTF is the deal with these korean exchanges, are they a new hub for chinese money or something like that?

That's the theory, yeah.

We are seeing prices in Australia and Korea getting wildly out of line.  Both countries are highly educated, wealthy and agressive early adopters of tech.  Starting to think they are the tip of the arrow.

What is weird is that there is a what, $6000 arb opportunity - and no one is taking it.  It's the biggest arb I have seen in BTC.

Bithumb is at $22,500 USD.  Jeez.

[lightfoot]

Is anyone else starting to feel a little sick?

I'm looking at the unconfirmed transactions, 208,000 right now.

So what will happen next week? Moon or ocean?

[Rosewater Foundation]

Beecoin Crash at 0.072.  Might be a good trade

More to come.  Still ripening in the sun.

0.05. I can feel it down in my plums.

[BTCMILLIONAIRE]

$23k in Korea lmao. This is getting absurd.

[LewisPirenne]

So it's 2.5 mio BTC/KRW ($23K) on Bithumb and 2.4 mio BTC/JPY ($21.5K) on BitFlyer.  Even GDAX almost got to USD$20K.  Global BTC daily volume almost $20 billion and network buckling under 200K tx pending, with most of spam tx out of mempool now due to timeout.  

So when are we going to see even the old hands on deck, who got thru all these years somewhat unscathed, become scared?    

[kurious]

WTF is the deal with these korean exchanges, are they a new hub for chinese money or something like that?

No one outside Korea can get fiat in or out. South Koreans probably aren't the biggest fans of Chinese people either.

This Chinese proxy thing is a myth IMO.

The reason Korean exchanges act like China is because they operate like China. And I think the Korean authorities will pull another China themselves fairly soon.

So is it virtual USD?

Edit: I mean I see prices quoted in USD, but is it actually Won?

[HairyMaclairy]

Only US$3,000 arb into Australia.

[gentlemand]

So is it virtual USD?

It's real KRW and unless you can open a Korean bank account, and you can't, you don't get to play with it.

It's been like it for a long arse time, this is from 2015 - https://medium.com/cryptonight/investigating-the-great-korean-bitcoin-arbitrage-opportunity-32e4e547a730

If it could be cracked it would've been.

[explorer]

So it's 2.5 mio BTC/KRW ($23K) on Bithumb and 2.4 mio BTC/JPY ($21.5K) on BitFlyer.  Even GDAX almost got to USD$20K.  Global BTC daily volume almost $20 billion and network buckling under 200K tx pending, with most of spam tx out of mempool now due to timeout.  

So when are we going to see even the old hands on deck, who got thru all these years somewhat unscathed, become scared?    

Unless you are margin trading, what is there to be scared of?