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

[fabiorem]

When the hell did BitMEX become the highest volume exchange?
https://coinmarketcap.com/currencies/bitcoin/#markets

Perhaps this indicates action (shorting it seems) by American institutional investors.

It's not technically a Bitcoin exchange.

Why would derivatives be listed in Bitcoin's CMC?

Maybe they want to inflate the marketcap with bitcoin which don't exist.

[Ibian]

What I find odd in all these confiscation stories is the password protection of confiscated bitcoins. I mean ok, the authorities might have access to a wallet.dat which says it has XXXX bitcoins in it, but from there to actually accessing the funds is quite some distance away - assuming there is a wallet key protecting the funds.

That's why I'm assuming that most authorities' "confiscations" do not necessarily translate to getting access to those coins.

But dont they interrogate the guys who are arrested?

And they have to give the password? Why?

Because pain!

[Rosewater Foundation]

Was Gemini hacked or is this just scheduled maintenance like their status page claims?

https://status.gemini.com/incidents/k4qvyflfmm24

Timing is a bit awkward given CBOE trading is based only on the Gemini price and starts in just over 24 hours.  

i like to think this was old school coiners beating Wall Street to the shorting punch. It's the optimist in me

[gentlemand]

i like to think this was old school coiners beating Wall Street to the shorting punch. It's the optimist in me

I thought they deferred to the Winkdex in case of Gemini seizure or is that the other futures outfit?

[xhomerx10]

http://www.zerohedge.com/news/2017-12-08/bulgaria-government-shocked-discover-it-owns-3-billion-bitcoin

Ain't seen any mention of this. The Bulgarian authorities seized 213,000 bitcoins from some pesky criminals. I wonder how and where and over how long they gathered so many coins.

No doubt some pencil necks will insist they will dump all on Yobit.

Bulgarian FUD or futures FUD? We will have to pick one.

 Whoever came up with it hasn't done their research; the value of that Bitcoin is higher_{slight exaggeration} than the GPD of Bulgaria!  Anyway, Bulgaria ranks as the most corrupt state in the EU so it will be a miracle if those ever see the auction block.  Don't worry, they will be dispersed, hidden and slowly laundered if they ever existed_{read denial}!

[Rosewater Foundation]

i like to think this was old school coiners beating Wall Street to the shorting punch. It's the optimist in me

I thought they deferred to the Winkdex in case of Gemini seizure or is that the other futures outfit?

idk man. I like to think a lot of things


don't mind me

[bones261]

so we broke down through the parabolic-est trend...I guess for the moment we will have to settle for parabolic-er-er-er growth

Parabolas have two sides, you know....

[Rosewater Foundation]

so we broke down through the parabolic-est trend...I guess for the moment we will have to settle for parabolic-er-er-er growth

Parabolas have two sides, you know....

[ivomm]

http://www.zerohedge.com/news/2017-12-08/bulgaria-government-shocked-discover-it-owns-3-billion-bitcoin

Ain't seen any mention of this.

Yea, I was surprised nobody was freaking out over a $3 billion govt dump.  It will likely be auctioned off like all other confiscations, but still, who the fuck wants to buy $3 billion of imaginary bitcoins using wealth that took generations to acquire?  Especially when you have things like bitcoin cash and all these other forks going on.  It's not longer safe to pretend there's only one chain.  You could be buying $3 billion of invalid chain lol.

A hedge fund can buy those coins from the bulgarian state and dump it selling contracts for shorts at CME, then apllying 10x leverage to win the bet and buy back the coins at a low price.

There is a lot of talks in the news about Bitcoin lately in Bulgaria. The officials said in the news that no one has the right to confiscate the 200K Bitcoins. But they are "locked and tainted" (whatever that means) as evidence of criminal activity. The top private television also aired an extensive documentary about Bitcoin, cryptocurencies, mining farms (mostly around hydro electric centrals) and exchange activity in the country. The Bitcoin frenzy lead the banks to ban all transactions to all domestic and foreign crypto exchanges. Of course, they can't ban the online banking offered by various services, so it is not a big deal.

[BTCMILLIONAIRE]

When the hell did BitMEX become the highest volume exchange?
https://coinmarketcap.com/currencies/bitcoin/#markets

Perhaps this indicates action (shorting it seems) by American institutional investors.

It's not technically a Bitcoin exchange.

Why would derivatives be listed in Bitcoin's CMC?

Maybe they want to inflate the marketcap with bitcoin which don't exist.

The supply is fixed, so the addition of derivatives won't change the market cap unless the amount of derivatives gets ridiculous and deviates strongly from the real price. Now volume on the other hand...

[bones261]

so we broke down through the parabolic-est trend...I guess for the moment we will have to settle for parabolic-er-er-er growth

Parabolas have two sides, you know....

This is probably the curve everyone is hoping for. Not a parabola.

[Rosewater Foundation]

^we'll take it!

[xhomerx10]

^we'll take it!

 What the fuck am I gonna do with all that Y?!  Who decided that Bitcoin would be denominated in Y and Y weren't we consulted? 
Must be another Roger Ver misdirection.

[JayJuanGee]

Was Gemini hacked or is this just scheduled maintenance like their status page claims?

https://status.gemini.com/incidents/k4qvyflfmm24

Yep.. it is surely taking them a long time to get back online, and they have been having quite a few of these issues in recent weeks, which does not bode well for them in terms of attracting institutional investors and even partnering with CBOE

[BTCMILLIONAIRE]

so we broke down through the parabolic-est trend...I guess for the moment we will have to settle for parabolic-er-er-er growth

Parabolas have two sides, you know....

Sure, but you can move the middle point around to make it appear the way most people would like it to.

[bones261]

^we'll take it!

 What the fuck am I gonna do with all that Y?!  Who decided that Bitcoin would be denominated in Y and Y weren't we consulted? 
Must be another Roger Ver misdirection.

Y=¥

[Torque]

^we'll take it!

 What the fuck am I gonna do with all that Y?!  Who decided that Bitcoin would be denominated in Y and Y weren't we consulted? 
Must be another Roger Ver misdirection.

Y=¥

Y=YOLO

[realr0ach]

Who decided that Bitcoin would be denominated in Y and Y weren't we consulted? 

You will have to find out if the universe is deterministic or not to answer that question:

http://steemit.com/science/@r0achtheunsavory/the-r0ach-report-25-computer-science-proves-the-existence-of-a-variable-known-as-god-but-not-what-god-actually-is

[xhomerx10]

^we'll take it!

 What the fuck am I gonna do with all that Y?!  Who decided that Bitcoin would be denominated in Y and Y weren't we consulted? 
Must be another Roger Ver misdirection.

Y=¥

₮ｻ∆ик$ ﾓ◊Я ₮ｻ∑ ∑Жקﾚ∆и∆₮เ◊и

[xhomerx10]

^we'll take it!

 What the fuck am I gonna do with all that Y?!  Who decided that Bitcoin would be denominated in Y and Y weren't we consulted? 
Must be another Roger Ver misdirection.

Y=¥

Y=YOLO

 In that case, I'm YODLin