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

[mindrust]

Good News: We are still over $9000.

[Rsiyz]

dip  

BobLawblaw can buy back with that part of selling to fiat ..  

[Torque]

"The U.S. Commodity Futures Trading Commission sent subpoenas last week to virtual-currency venue Bitfinex and Tether..."

Last Week

So think about that, HODL, and BTFD

How low is this going to go, I wish people would man the fuck up & stop selling at th 1st sign of what looks like bad news.

They're not though. The whales bought up everything between 7.5K and 19k. They're literally dumping and shorting into their own bid walls. Average Joes aren't fast enough on the trigger (unless they are stop loss selling).

[jojo69]

This is so transparent it is laughable.

The timing is pretty over the top...they really think we are that stupid...I suppose that fact in and of itself is a tradable data point.

[RayX12]

...
Or People woke up and suddenly felt the urge to move coins? Crash anticipation?
...

Yes!  Insider knowledge of the subpoena article coming. 

[rafanadal]

"The U.S. Commodity Futures Trading Commission sent subpoenas last week to virtual-currency venue Bitfinex and Tether..."

Last Week

So think about that, HODL, and BTFD

How low is this going to go, I wish people would man the fuck up & stop selling at th 1st sign of what looks like bad news.

Why won't they sell, if they can buy back later at a much cheaper price ?
people are treating btc as an investment, they want to make money, and cashout, no one treats btc as payment system, they don't care if it eventually succeeds or fails.

[jojo69]

the log line from July 15 is holding

so far just a wick under the 200 DEMA

If they cant break those with THIS news the bear is cooked.

[Torque]

This is so transparent it is laughable.

The timing is pretty over the top...they really think we are that stupid...I suppose that fact in and of itself is a tradable data point.

It's gonna be pretty laughable when the opposite of what they expect happens, and their shorts get squeezed to hell from incoming buyers trying to BTFD.

Also, do they really think people don't know legal due process? A subpoena is nothing, no action happens immediately. You can lawyer up and kick the can on shit like that for months or even years.

[STT]

Are you even paying attention?

Have you heard of lightning network?  Of course, some of it is already being experimented upon... it could take many years before it is microtransacting on the level of visa... but it is in the works.

Also, you mention that you want to send big amounts of bitcoin around, and you know that the problem is not with big amounts, because in terms of percentage it is not bad, especially if you are getting into the several thousand dollars arena.

Finally, fees are low currently and transaction times are fast currently.

I just looked in my blockchain.info wallet, and it is showing $.12 for regular fees and $2.02 for priority.  Seems fairly reasonable to me, and you could take advantage of these low fees if you want to move money around, at this time.

I have heard of lightning network but its only segwit adresses I'm able to use currently to alleviate fees, I'm just talking about the reality of the situation and how that feeds back into market demand.   Of course I want them to advance the capability of crypto far more then it is now especially for micro transactions, until its usable we are all speculating perhaps a little too much and hence the price pulls back to a more steady area.

I'm pretty sure all my transactions are micro!   I'm not a whale sadly, if fees have fallen to $2 then thats way more realistic for most people to use BTC.    I swear they recently halved, I'll check the graph site I have bookmarked and post the fee structure/backlog as I think its relevant



I dont want to spike the guys site with traffic, pm if you want a link as he gives a few dynamics

[podyx]

the log line from July 15 is holding

so far just a wick under the 200 DEMA

If they cant break those with THIS news the bear is cooked.

What news?

[jojo69]

the log line from July 15 is holding

so far just a wick under the 200 DEMA

If they cant break those with THIS news the bear is cooked.

What news?

Bitfinex/Tether subpoenaed

[PoolMinor]

the log line from July 15 is holding

so far just a wick under the 200 DEMA

If they cant break those with THIS news the bear is cooked.

What news?

https://bitcointalk.org/index.php?topic=178336.msg29259444#msg29259444

[Torque]

"We routinely receive legal process from law enforcement agents and regulators conducting investigations," Bitfinex and Tether said in a statement to Bloomberg. "It is our policy not to comment on any such requests."

routinely

Routinely: on an ongoing basis. Like all the fkn time.

[fabiorem]

Tether is only 2.3 billion in a market of more than 500 billion.

Think about it for a minute.

[jojo69]

whew

got out of my ill-advised BCH position at break even by the skin of my teeth, thank goodness for this dump

[Lopumbo]

Tether is only 2.3 billion in a market of more than 500 billion.

Think about it for a minute.

Think about 2.3 Billion of liquidity is going to be removed from 10 billion...
Think about that 20 Million $ can move the market by 5-10%, then a 2.3 Billion Market order (in the worst case) will move bitcoin where?

[Sitarow]

Now that Bitcoin is gaining tracking traction by the old boy's expect to see more of these overlooked Loopholes plugged.

My only advice is to avoid exchanges that don't comply with common sense rules that crack down on fraud and other "market" exploits such as insider trading.

[toknormal]

I blame the exchanges for the Tether nonsense.

They could have listed a genuine trustless, market backed fiat proxy such as BitUSD which would have been far more reliable and bullet proof than some corporate emperor's clothes crap like tether.

[Biro Bob]

$1500 drop in 24 hours? Excellent!! Please let me know when the bottom is in so I can sell...

[rezurect007]

1000 BTC wall @9500