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

[PoolMinor]

Also if everybody were to exit Tether, price of BTC should rise not fall..... Unless Tether are not only "unbacked" by real USD but backed by other cryptocurrency assets including BTC... then they would be the ones that are selling to maintain the peg of of $1 USD. If that were the case I hope they end up in jail.

It's not that people would exit Tether, it is that the price of tether against US dollar would be worthless after a reveal of no (or lack of) backing.


How many worthless Tethers would it take to buy a BTC?

[TERA2]

Theoretically the only thing that keeps tether tethered to $1 is TetherBank buying any/all tether's at $1. Without this facility I am amazed that Tether is still where it is. I think it's being held there by bots that are programmed to trade USDT pairs based on USD prices.

[Enjel]

Also if everybody were to exit Tether, price of BTC should rise not fall..... Unless Tether are not only "unbacked" by real USD but backed by other cryptocurrency assets including BTC... then they would be the ones that are selling to maintain the peg of of $1 USD. If that were the case I hope they end up in jail.

It's not that people would exit Tether, it is that the price of tether against US dollar would be worthless after a reveal of no (or lack of) backing.


How many worthless Tethers would it take to buy a BTC?

The USDT is partially backed, is it not? I'm sure they have a few hundred million in there at least...

...so I honestly don't get what the problem is... most people are not going to ever cash out their USDT - it's called Tether for a reason. Even 100 million reserve should be plenty.

The whole banking system is fractionally reserved, so why should USDT be such a scandal?


I feel as if people are acting as if they *should* believe something, not because it would be truly catastrophic.

[realr0ach]

WHO could have possibly seen this coming:

That's what we call the Goldman Suplex.  When they bomb it down to the 50% retracement and make people believe they're getting a good deal so they all take longs, while the people sitting on 200,000 coins that were the only thing propping up the market are all dumping on the longs and it implodes down to the 38% retracement or lower wiping out everyone.

[rezurect007]

2000 BTC wall @9500
https://i.imgur.com/2ljIwpy.png

Moving Wall Tracker: 2000BTC @ $9300
https://i.imgur.com/FJkcAwC.png

2000 BTC Wall splits:
1000@9300
1000@8500 - Appears and disappears repeatedly
https://i.imgur.com/zoMnrF0.png

[conspirosphere.tk]

While the drama-queens are having their day, some are filling their own bags:


https://data.bitcoinity.org/markets/books/USD

[realr0ach]

2000 BTC wall @9500

2000 BTC Wall splits:
1000@9300
1000@8500

He's not called "the Bitfinex spoofer" for nothing.  This entire market is nothing but a fraud orchestrated by that one single entity on Bitfinex.  It's been like that FOREVER, since the price was $200, and then they introduced TETHERS on top of that to make it fraud^2.  I'm not sure how this entity has not been hunted down by a govt agency yet.  One plausible scenario is that it's a govt sanctioned entity like the ESF doing it.  

In the GATA archives, it came out that the govt attempted to create massive volatility in metals on purpose to make the general public think they weren't a stable store of value or something, so they could be doing the same thing in bitcoin - orchestrating pump and dumps on purpose.  Other people believe this entity is just a Chinese pump and dumper named "Zhao Dong".

[Lopumbo]

Check out GDAX. 2% of the volume (just to be generous). Right now 70 million USD of BTC can be sold down to 7000 USD/BTC.

correct

Multiply that by about 50, and you get 3.5 billion USD of Bitcoin, more than 2 billion.

No it doesn't work that way. There are 1-2 leading exchanges and the rest follows through arbitrage. If Bitfinex or GDAX dumps hard, every exchange would dump.

[ccminer.net]

While the drama-queens are having their day, some are filling their own bags:


https://data.bitcoinity.org/markets/books/USD

Please pardon my ignorance but could you explain how to read these plots

thx

[Neo_Coin]

By the way, ETH Flippening watch +69,2%   
https://www.flippening.watch

[conspirosphere.tk]

While the drama-queens are having their day, some are filling their own bags:

https://i.imgur.com/ocq3DCDg.png
https://data.bitcoinity.org/markets/books/USD

Please pardon my ignorance but could you explain how to read these plots

thx

Go to the linked website. The curves on the left represent bids on the major exchanges (notice quantity by price on the scales). The curves on the right the amounts on bitcoins for sale on the same exchanges according the price.

[mymenace]

Litecoin on Gox facebook


https://www.zerohedge.com/news/2018-01-31/facebooks-ban-crypto-ads-anticipation-litecoin-integration

[realr0ach]

Go to the linked website. The curves on the left represent bids on the major exchanges (notice quantity by price on the scales). The curves on the right the amounts on bitcoins for sale on the same exchanges according the price.

You forgot to tell him that when whales want to dump, they stack the bid side to feign buy support, then have bots auto-remove the bids when the dumps get close.  Looking at walls is mostly useless besides determining what the Bitfinex spoofer is doing, or what he's trying to manipulate people into thinking.

[rezurect007]

2000 BTC wall @9500
https://i.imgur.com/2ljIwpy.png

Moving Wall Tracker: 2000BTC @ $9300
https://i.imgur.com/FJkcAwC.png

2000 BTC Wall splits:
1000@9300
1000@8500 - Appears and disappears repeatedly
https://i.imgur.com/zoMnrF0.png

Wall is pulled completely:

Note: Walls keeps popping up and disappearing

[mike4001]

Well

I predicted it several times and most people said bitcoin will rise soon.

... lol

We won't fall down to 0 of course, but don't epect anything over 10-12k before 2020.

[TERA2]

The problem with merit is it doesn't account for the amount of bad posts that someone makes. Someone could make some good posts to get merit but also make tons of bad posts. To fix this problem we would either need demerits or to display to a merit-to-post-count ratio.

[vroom]

the I predicted it several times people are coming...

[realr0ach]

The problem with merit is it doesn't account for the amount of bad posts that someone makes. Someone could make some good posts to get merit but also make tons of bad posts. To fix this problem we would either need demerits or to display to a merit-to-post-count ratio.

Stop shilling for unsound digital craptocurrencies and #releasethememo.

[Karartma1]

snip

I miss Jimbo's posts. This thread now is a bear tavern.

Let the man rest and have fun on his vacation. He deserved it.
About your comment: don't get fooled. This is and will always be the most bullish thread of the entire house!

ETH always the best performance  

By the way, ETH Flippening watch +69,2%  
snip

Go back to your Ethereal cave.
(Where are dMerits when one needs them?)

[TERA2]

itll rebound a little after filling that stupid wall