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

[Torque]

Jim Cramer absolutely, positively cannot shut his big mouth about Bitcoin.

https://www.cnbc.com/2017/12/07/cramer-bitcoin-is-suspicious-for-5-reasons.html

I love these quotes:

"First, no one knows who created it. Second, no one knows how much the creator reserved for themselves. For all we know, there are tons of these things sitting on the sidelines somewhere. Third, there's virtually no transparency into the underlying system," Cramer said. "Fourth, there's no government backing — obviously — there are no underlying assets backing it up and there's no military support for the bitcoin system, unlike real currencies."

Fifth, despite the professed protection of blockchain, the secure way to trade bitcoin, Cramer pointed out the bitcoin is software. And software, as we know all too well, can be hacked.

"When, not if, but when, that happens, it will be a total loss as there's no insurance and no fiat backing," Cramer said. "With those five considerations, sooner or later, this thing's going to run out of steam."

"Once we get an orderly market in bitcoin, I think a top won't be far behind," he said. "Look, I want to congratulate everyone who was early on this story, everyone who ... sold it at $19,000, everyone who's made a fortune in bitcoin. You're smart, you're good, you're fabulous. But when the other side of the trade develops, bulls make money, bears make money, and pigs get slaughtered. And I do not want you to be a pig and get slaughtered."

Oh please Jim, save us all! Average Joe stay far far away!

[Richy_T]

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

[afbitcoins]

What the fuck is wrong with you people that you are still sending money to the exchange that outright stole a third of the funds people had there? You deserve to be poor.

If you must know I had to sell my stash of 7 bitcoins back in 2016 due to financial circumstances. So I am poor now which is why I am using Bitfinex as well as a couple of other exchanges to trade alt-coins in order to get back to my 7 bitcoins with a view of making it to at least 10.

Not everyone who got bitcoins back in 2014 like me was able to hold them all due to money issues.

But I am glad you have enough bitcoins that you dont need to trade, that is also my ultimate goal but in the meantime I find it very difficult trading using my notepad or paper wallets  

Anyway if you feel I deserve to be poor then please ignore

If you want to help then you know what to do  - 1PRjBfDaPiTRdTrbWyxPSrcSCZJ98McxGF

Good luck on your quest. If more than 21 million people want only 1 bitcoin each then you know what direction the price has to go. I also like to trade and increase my stack.

I think the point was though, why use that particular exchange rather one thats less shady?

Well I have used 4 exchanges so far. Poloniex, Bittrex, Kraken, Bitfinex

I'd say of those four Bitfinex has by far the most superior chart layout/order options/useability. I have only started trading for about 4 months or so.and therefor Im new to this (but not to Bitcoin).
Bittrex is good as there is a wide array of alts but for me not good for day trading.
Poloniex well I think is a poor version of Bitfinex
Kraken is Kraken, I stopped using that after 2 weeks

But if you have any suggestions on other alternatives I am all ears.
So far I have managed to put together about 0.15 BTC worth of BTC and alts but I did start off with almost no capitol and have been out of work and this have also been living off trades too.

Well I haven't used bitfinex I guess in part because of bad rep. I used bitcoinica in the beginning which was hacked and I lost my entire stack at the time, would add a huge chunk to my  fortune if I had it now. Since then I only store small amounts on exchange at any one time as I hope everyone else is doing. Then I used cryptsy (hacked), mintpal (hacked), polo (which I quite liked even despite its Monero fixation but started not to trust), I started using Kraken after it added Dash (but it is unusable because its sever is a ZX81). At the moment my preferred option is Bittrex which I joined primarily because it was the only one listing byteball. The search for a decent exchange continues...

 

[realr0ach]

CNBC is hyper pumping it on TV !! :-D weeee

Wow, that doesn't sound like a jew scam at all.

[_javier_]

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.

[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

[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.