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

[JayJuanGee]

You do recall the chart of the size of tether as compared with all of the cryptos, correct?

I don't have the link right now, but anyhow tether is a very small fraction of this total crypto space

The correct comparison is not marketcap to marketcap, it's Tether marketcap to BTC market DEPTH.

Come back when you've checked that ratio out.

Pardon my ignorance but, what's the current market depth of USDT vs BTC to go 50% up/down?

Where could I check it?

Bitserve.. don't get distracted by toknormal's nonsensical assignment. 

S/he/it has the burden to show this kind of information if s/he/it believes the information to be relevant to his extraordinary proclamations.... otherwise, s/he/it is just playing hide the ball and/or making claims about information that does not exist.

  S/he/it is making an assignment for us to run around and to find supposed proof to rebut when s/he/it is making the nonsense arguments... and likely such information is really not available anyhow because it is very difficult to show exactly the amount of BTC traded across so many exchanges, and OTC and if s/he/it had such information, then s/he/it should present such evidence to us and describe how it is supposedly relevant to the claims being made.

[toknormal]

Further, you already provided a link to a scam article, and like I said the dead horse beaten subject has been floating around for more than 6 months

LoL ! Well I only hope you're right cos I'm long BTC you may be interested to know, being one of those "going down with the ship" people.

However, I can add up and you seem not to be able to so that's the explanation for the matter not "going away" since you were looking for one. What exactly is "scam" about that article anyway ?

you failed to meet your burden to show facts and/or logic to convince me

The bitstamp market depth to $10k right now is around $10 million dollars. The Tether marketcap is around $2.2 BILLION. On a slow day, Tether may "print" a cool $25 million which doesn't cost them a dime.

So contrary to your assertion that Tether isn't "jeopardising our lovely honey badger", the fact of the matter is it can eat bitcoin's price for breakfast anytime it wants.

[kludzins]

Nice run up. Next is 10k

[bitcoinPsycho]

yes

[Torque]

Hey guys, JPMorgan thinks that Bitcoin is a "fraud", but for some reason also believes that Bitcoin ETFs are the "Holy Grail"...

http://www.businessinsider.com/jpmorgan-explains-why-a-bitcoin-etf-is-a-holy-grail-2018-2

 

[Phil_S]

Steady on, lads. If you buy all the bitcoins on the exchanges, there won't be enough left to share them round equally.

Communist!  

[bitserve]

The bitstamp market depth to $10k right now is around $10 million dollars. The Tether marketcap is around $2.2 BILLION. On a slow day, Tether may "print" a cool $25 million which doesn't cost them a dime.

So contrary to your assertion that Tether isn't "jeopardising our lovely honey badger", the fact of the matter is it can eat bitcoin's price for breakfast anytime it wants.

Wait... you are comparing public order book market depth of BTC on a SINGLE exchange (and single currency pair) to full marketcap of Tether while also assuming it is 100% unbacked? So much for comparing apples to oranges!

I am not sure that is a fair comparison.... If you would just vaguely say that "in case Tether is unbacked it could have an undetermined impact on BTC price", that statement would be right though.

[d_eddie]

Here we go? 11k in the weekend?

[bitcoinPsycho]

Here we go? 11k in the weekend?

confirmed

[Dakustaking76]

Cho cho chooooooo fuckerssssss

[d_eddie]

Hey guys, JPMorgan thinks that Bitcoin is a "fraud", but for some reason also believes that Bitcoin ETFs are the "Holy Grail"...

http://www.businessinsider.com/jpmorgan-explains-why-a-bitcoin-etf-is-a-holy-grail-2018-2

 

Business Insider, hm.
I wonder if this is a $500 article or a $1000 article.
In other terms, has it been paid 0.055 or 0.11 BTC?

[toknormal]

Wait... you are comparing public order book market depth of BTC on a SINGLE exchange (and single currency pair) to full marketcap of Tether while also assuming it is 100% unbacked?

I am not sure that is a fine comparison.... If you would just vaguely say that "in case Tether is unbacked it could have an undetermined impact on BTC price", that statement would be right though.

It doesn't matter if it's 100% backed, fractional or zero reserve. I don't really care. What matters is the proportion of bitcoin's valuation which is occupied by counterparty risk and liquidity.

If the valuation is market backed, that's one thing. If it's backed by a single counterparty then it's slowly turning it into a type of bond who's value basis depends more on the fate of a lone corporate entity registered in the Virgin Islands than anything else.

Think of it like the market version of a 51% mining attack. (Except with faked hashrate that didn't cost any electricity).

If I was an adversarial government institution wanting to "take down" bitcoin I can think of worse ways to do it.

[El duderino_]

exciting for the new poll prices      specialy during such pumps

[bitserve]

Wait... you are comparing public order book market depth of BTC on a SINGLE exchange (and single currency pair) to full marketcap of Tether while also assuming it is 100% unbacked?

I am not sure that is a fine comparison.... If you would just vaguely say that "in case Tether is unbacked it could have an undetermined impact on BTC price", that statement would be right though.

It doesn't matter if it's 100% backed, fractional or zero reserve. I don't really care. What matters is the proportion of bitcoin's valuation which is occupied by counterparty risk and liquidity.

If the valuation is market backed, that's one thing. If it's backed by a single counterparty then it's slowly turning it into a type of bond who's value basis depends more on the fate of a lone corporate entity registered in the Virgin Islands than anything else.

Think of it like the market version of a 51% mining attack. (Except with faked hashrate that didn't cost any electricity).

If I was an adversarial government institution wanting to "take down" bitcoin I can't think of a much more effective way to do it.

I don't agree with that. If it were unbacked yes, it would have an (undetermined) impact for sure.

But, if it is BACKED, it doesn't really matter if it goes south (ie: funds seized by government)... It will sink Tether holders, not BTC.

The thing that matters the most is if it was a REAL growth (backed) or an artificial/inflated one (unbacked).

[rjclarke2000]

https://media2.giphy.com/media/3ohnEqJ1XOfvWaSk7e/giphy.gif



Came here for the rockets

[JimboToronto]

Looks like this rally has slowed for now. Back to bed for me.

See y'all at noon.

[HairyMaclairy]

[toknormal]

I don't agree with that. If it were unbacked yes, it would have an (undetermined) impact for sure.

But, if it is BACKED, it doesn't really matter if it goes south....The thing that matters the most is if it was a REAL growth (backed) or an artificial one (unbacked).

It's unbacked. You can take that as a given.

[vroom]

-chart-

what do we see here? please comment your chart for newbies like me.

[mymenace]

-chart-

what do we see here? please comment your chart for newbies like me.

trendline breaking