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

[svdleer]

why price is 13.375€ on Kraken and on Gdax is 14.182€ ?
i see this the last days. why is that?

Price on a exchange is demand driven. you can make a gamble to use multiple exchanges, thats called arbitrage, see : https://www.investopedia.com/ask/answers/04/041504.asp

[bitcoinvest]

why price is 13.375€ on Kraken and on Gdax is 14.182€ ?
i see this the last days. why is that?

Price on a exchange is demand driven. you can make a gamble to use multiple exchanges, thats called arbitrage, see : https://www.investopedia.com/ask/answers/04/041504.asp

i am in this crypto world enough to know this answer, yet thanks for answering.
i mean is something else behind that?

[HairyMaclairy]

Because Kraken is shit and institutions probably do not want to play in their sandpit.  

[Torque]

i am in this crypto world enough to know this answer, yet thanks for answering.
i mean is something else behind that?

Also variance in prices could be attributed to some fees, explicit or hidden, being passed on to the buyers and sellers of a certain exchange.

[Rosewater Foundation]

Jeez... look at this shit
22 upcoming forks.

http://pieifo.com/pages/endefault.html

I need to safely stream-line my split & dump process.

It's turning out to be a full-time job to take care of these

Yeah, I don't imagine Trezor will be in a big rush to implement BitcoinPizza support.

[Colonel Panic]

Thx for the replies and advice guys.

I was phoned by a friend who does gold mining.  Plant setup etc.
He has an investor who wants to put in 700 BTC in a hurry. (Probably due to the ever present, almost universal price correction concerns)

He is worried about the volatility of BTC and wants to get it changed into USD and into a company acc (HSBC) in the UK asap.
(Personally I think he might be surprised at just how many businesses would be happy to accept BTC for the required equipment, but he does not think that way)

I found this:
https://news.bitcoin.com/otc-trading-whales-bitcoin/

And have contacted
https://www.itbit.com/
and
https://binaryfin.com

It goes without saying that these institutions need to properly checked out and be legit.
Does anyone have any experience here?

I am way out of my depth here and would not have asked so publicly had time not been of the essence.

Let's see if I get it correctly... Your friend does not have the BTC, but someone wants to invest in his business using BTC and he wants to convert it to USD inmediately?

If that is correct, your friend better do the deal with a broker that could also carry on the due diligence over those Bitcoins or he could end up with some sort of "tainted" ones and be in big trouble. Maybe Gemini or any other of the big ones with dedicated OTC desks who will also be able guide him through all the steps of the transaction.

Thats correct.
He is worried about the volatility of BTC and also says his suppliers etc "haven't even heard of BTC!"  
(I think he should ask them before jumping to conclusions)
Thx for the advice.
Thx everyone who replied!  

Are
https://www.itbit.com/
and
https://binaryfin.com
legit as stated?

I am adding
Gemini
Bitstamp
to the list of possibles.
Any other recommendations?

For the UK (well, GBP) there's also Coinfloor.

I'm surprised they get so little love round here, never had any problems or delays or stupid questions. Money in bank in 3-4 days. They also have an OTC desk.

[Arriemoller]

Found this, have not tried but I probably will download. Handy to have all shitforks in one wallet.

"Bitpie will support all hard fork token if
1. Mainnet is online and stable
2. 2-way Replay protection is implemented
3. Fair distribution and no private key import needed to claim."

Still have no idea how to claim them tho, not much info on their sites. If anyone knows, please share.

[bitcoinvest]

i am in this crypto world enough to know this answer, yet thanks for answering.
i mean is something else behind that?

Also variance in prices could be attributed to some fees, explicit or hidden, being passed on to the buyers and sellers of a certain exchange.

in my mind there is connection with the fact that simple user can't do much... Error 520 is the best friend on Kraken those days... let's see the trade engine update what will do...

[Rosewater Foundation]

Question of the day. Is Jstolfi paid by Ver, or just hopeless?

[goggles]

Can you even sell Super Bitcoins yet? I couldn't find a wallet that even supports it.  Not storing my bitcoin on some exchange just to get quick crap coin dumps.

[Torque]

Question of the day. Is Jstolfi paid by Ver, or just hopeless?

A broken clock is correct twice a day. Or in Jstolfi's case, maybe once in a millennia if at all.

It feels good for the nocoiners and naysayers to make outlandish claims like "Bitcoin may go to a million dollars one day before it goes to zero." That way they can smuggishly still be right on the first part, while simultaneously moving the goal posts on the second part out to infinity. Or at least to well after they are dead and gone.  Am I right?

[Arriemoller]

Can you even sell Super Bitcoins yet? I couldn't find a wallet that even supports it.  Not storing my bitcoin on some exchange just to get quick crap coin dumps.

None of the wallets on their site supports it?

[Ibian]

I hope you experienced guys can advise:

Which exchange is best to use to change a LARGE amount of BTC into USD and deposit it into a bank acc in the UK plz.
ie:  
It's important to try and keep the whole transaction  immune to the volatility of BTC so the the deposited USD amount is as close to the initial amount as possible.

I would have said Bitstamp.  BUT:

1. They can ask you to prove where the BTC came from at the point you try to withdraw cash.  I managed to satisfy them, but it took time and if they had not been satisfied I suspect they might have refused.  Scary while it was held in suspense, which it was.

2. They are now getting very slow for withdrawals - over a week now to even confirm (USD) withdrawal - let alone see it in your bank.  I don't know about SEPA, as I no longer use this method (see 3 below).

3. When you sell for USD and they withdraw USD for you, they change it into Euros via a Slovenian bank, then send it as Euros (via SEPA) to your UK bank (as Euros), who will then convert to GBP.  This friction is expensive.  In the end I found the best thing to do is set up a UK USD account and use 'International wire transfer' to transfer USD.  You can then use a Forex broker to give you a good rate for USD to GBP.

Not very helpful, but I think very few exchanges are easy right now for UK BTC - cash.  generally I trust Bitstamp - but the slowness is now concerning.

Suddenly glad I didn't manage to get a stamp account set up. Thanks for sharing. And be careful, sounds like the start of another goxing.

[goggles]

Can you even sell Super Bitcoins yet? I couldn't find a wallet that even supports it.  Not storing my bitcoin on some exchange just to get quick crap coin dumps.

None of the wallets on their site supports it?

I tried bitpie and it didn't have it listed. Pretty sure Electrum doesn't. I don't know about the 3 Chinese wallets, I was hoping someone else might have found one.

[Syke]

2. They are now getting very slow for withdrawals - over a week now to even confirm (USD) withdrawal - let alone see it in your bank.  I don't know about SEPA, as I no longer use this method (see 3 below).

It might be due to the round-about way it has to go for you. I'm getting USD withdrawals to the US confirmed in a day.

[RayX12]

Another one bites the dust!

https://www.youtube.com/watch?v=rY0WxgSXdEE

Hitbtc off line for hours!

[xhomerx10]

Another one bites the dust!

https://www.youtube.com/watch?v=rY0WxgSXdEE

Hitbtc off line for hours!

Video links are generally useless without some context.  Is this a song?  Aint nobody got time fo dat!

[Arriemoller]

Can you even sell Super Bitcoins yet? I couldn't find a wallet that even supports it.  Not storing my bitcoin on some exchange just to get quick crap coin dumps.

None of the wallets on their site supports it?

I tried bitpie and it didn't have it listed. Pretty sure Electrum doesn't. I don't know about the 3 Chinese wallets, I was hoping someone else might have found one.

Is it on line with a stable chain yet? Wallets won't support until then. Wait a couple of weeks and try again.

[Arriemoller]

Another one bites the dust!

https://www.youtube.com/watch?v=rY0WxgSXdEE

Hitbtc off line for hours!

Video links are generally useless without some context.  Is this a song?  Aint nobody got time fo dat!

Queen - Another One Bites the Dust (Official Video)

[lightfoot]

2. They are now getting very slow for withdrawals - over a week now to even confirm (USD) withdrawal - let alone see it in your bank.  I don't know about SEPA, as I no longer use this method (see 3 below).

It might be due to the round-about way it has to go for you. I'm getting USD withdrawals to the US confirmed in a day.

Using litecoin at an ATM I get withdrawls and money within like 3 minutes.

Bitcoin takes closer to half an hour. So who has set up Vegas hookers with a litecoin based payment app?

Seriously: You could pay an address, add a tip, and the coins would be split between the hooker, pimp, and driver based upon mutually agreed upon rates signed by private keys held by all parties. That way you the john would know the appropriate money is going to all parties based upon agreed-on ratios.

Hm.................