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

[d_eddie]

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

Which is... when's the last deadline?

[d_eddie]

As a business owner I wouldn't price anything in bitcoin. Not yet anyway. Maybe after wider adoption it's volatility calms down. But you can still price your products in ounces of gold or silver and take bitcoin as payment. So that whole "bitcoin cant be a currency" thing is dumb. It may or may not ever be a good money. But it makes a fine currency even right now.

(snip)

Currently on a system's-wide basis, part of the problem with bitcoin has to do with Gresham's law, but another part is not widely adopted, but bitcoin is way better than pms in terms of divisibility, recognition, trustability and portability.. and perhaps a few more things when it just comes to the currency aspect of bitcoin.  

We may be solving the tx fee issue soonish. Signs are promising. However, one problem I see with bitcoin as a currency is price volatility. It's unbearable. I think that's what Anon136 meant when mentioning gold.

OK, 1 btc = 1 btc - so the price in echo-chamber terms is stable, but

How many apples for 1 btc?
How much bread, gasoline?
How many lambos?

Until these questions get an answer that drifts as slowly as gold (or better yet, slower), general adoption as a currency isn't reasonable to expect.

[JayJuanGee]

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

Which is... when's the last deadline?

April 17 is the tax deadline this year, but it seems a fairly random date to tie to any kind of meaningful BTC price performance

[jojo69]

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

Which is... when's the last deadline?

17 April

[JayJuanGee]

As a business owner I wouldn't price anything in bitcoin. Not yet anyway. Maybe after wider adoption it's volatility calms down. But you can still price your products in ounces of gold or silver and take bitcoin as payment. So that whole "bitcoin cant be a currency" thing is dumb. It may or may not ever be a good money. But it makes a fine currency even right now.

(snip)

Currently on a system's-wide basis, part of the problem with bitcoin has to do with Gresham's law, but another part is not widely adopted, but bitcoin is way better than pms in terms of divisibility, recognition, trustability and portability.. and perhaps a few more things when it just comes to the currency aspect of bitcoin.  

We may be solving the tx fee issue soonish. Signs are promising. However, one problem I see with bitcoin as a currency is price volatility. It's unbearable. I think that's what Anon136 meant when mentioning gold.

OK, 1 btc = 1 btc - so the price in echo-chamber terms is stable, but

How many apples for 1 btc?
How much bread, gasoline?
How many lambos?

Until these questions get an answer that drifts as slowly as gold (or better yet, slower), general adoption as a currency isn't reasonable to expect.

You might be correct that Anon136 is referring to volatility, but he did not say that... and even accounting for volatility, bitcoin is probably better than an ounce of gold or silver as currency, even in the presence.. .. My point is that we can deal with bitcoin's volatility rather than trying to figure out how to currently transact with gold or silver... you go try it.. good luck.

[Searing]

This can't be the trustee selling. On Saturday? Puh-leeze!

This is manipulation, plain and simple. Somebody wants to have our coins for cheap.

Don't let them.

Hodl.

IMHO, the trustee has powers (at least in usa) to sell at best price...so I bet he can sell ..if he thinks the market is going to tank to 6k

i myself think that no selling BTC till sept meeting for gox is a joke..in a liguidation like this in usa you are required to get as much $$$ as

fast as possible for the most money..and the gox trustee has 1.5 billion BTC to move

IF his view that BTC is 'funny money' he will drop more and more as he tanks the market out of that fear

this could get very, very ugly

brad

[d_eddie]

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

Which is... when's the last deadline?

April 17 is the tax deadline this year, but it seems a fairly random date to tie to any kind of meaningful BTC price performance

Hm, it's on a Tuesday. Maybe we'll see a pump on the weekend, April 20-22? I'm counting the Friday in the weekend, as it's apparently been for a long time, bitcoin-wise.

EDIT - Jojo69 also answered my question. Thanks.

[Searing]

There are a lot of people in the same boat, Wall St. wants those coins nice and cheap.

The pump will come immediately after tax day.

Which is... when's the last deadline?

April 17 is the tax deadline this year, but it seems a fairly random date to tie to any kind of meaningful BTC price performance

Hm, it's on a Tuesday. Maybe we'll see a pump on the weekend, April 20-22? I'm counting the Friday in the weekend, as it's apparently been for a long time, bitcoin-wise.

EDIT - Jojo69 also answered my question. Thanks.

sorry I am always wrong....I need to dump some BTC this week..in that I always dump at the low...now may be a good time to buy (at least my hoard would be happy)

but again.....tax man (shudder) or dump coin (grrrr) is my choice coming up....catchup i play..

[bitserve]

This can't be the trustee selling. On Saturday? Puh-leeze!

This is manipulation, plain and simple. Somebody wants to have our coins for cheap.

Don't let them.

Hodl.

It isn't Kobayashi: https://www.mtgox.com/img/pdf/20180317_qa.pdf (skip to the last half for english translation)

[tonyq]

In other news.....Ethereum is being smashed downwards mercilessly today.

[d_eddie]

This can't be the trustee selling. On Saturday? Puh-leeze!

This is manipulation, plain and simple. Somebody wants to have our coins for cheap.

Don't let them.

Hodl.

IMHO, the trustee has powers (at least in usa) to sell at best price...so I bet he can sell ..if he thinks the market is going to tank to 6k

i myself think that no selling BTC till sept meeting for gox is a joke..in a liguidation like this in usa you are required to get as much $$$ as

fast as possible for the most money..and the gox trustee has 1.5 billion BTC to move

IF his view that BTC is 'funny money' he will drop more and more as he tanks the market out of that fear

this could get very, very ugly

brad

This could get ugly for sure. It's already not too pretty as it is right now.

However, the trustee is subject to Japanese - not USA - regulations. I know absolutely nothing about these legal intricacies, but as we've seen in the Gox case, Gox's (I mean the ripped off customers') holdings were accounted in fiat value. If there's any coherence in Japanese bankruptcy laws, giving the corn away too cheap might get the trustee into a hornet's nest of legal retaliation/prosecution.

EDIT - more substance to my thesis from bitserve (nice detective job)

It isn't Kobayashi: https://www.mtgox.com/img/pdf/20180317_qa.pdf (skip to the last half for english translation)

[Last of the V8s]

This can't be the trustee selling. On Saturday? Puh-leeze!

This is manipulation, plain and simple. Somebody wants to have our coins for cheap.

Don't let them.

Hodl.

It isn't Kobayashi: https://www.mtgox.com/img/pdf/20180317_qa.pdf (skip to the last half for english translation)

nice find. +imaginary merits

I sold BTC and BCC not by an ordinary sale through the BTC/BCC exchange, but in a manner that would avoid affecting the market price

edit: thanks bob. further:

At present, nothing has been determined regarding the sale of BTC and BCC in the future.

[bitserve]

That said... even if Kobayashi didn't directly sell into exchanges immediately crashing the price due to lack of instant liquidity it is obvious all those Bitcoins sold during December to February indirectly reduced the demand on exchanges (in a softer more sustained way).

Also, the fear in the market (and insiders frontruning Kobayashi) has probably played a bigger part on the dump than the $400million sold by Kobayashi himself.

At least the fear about more btc being sold in the short/medium term is now unjustified and could have a small positive impact on the market.

He has just made sure he can finish the bankruptcy proceeding with FULL (theoretical) payment to creditors. His ass is now fully covered as a successful bankruptcy administrator.

P.S.: And thanks for the merits!

[blacky90]

this looks like a falling wedge...

could move up soon

[Last of the V8s]

... frotruning Kabayashi) ...

hey, these are typos obviously, but don't go angering the jojoverlords  

[bitserve]

... frotruning Kabayashi) ...

hey, these are typos obviously, but don't go angering the jojoverlords  

Fixed! 

[HairyMaclairy]

[Vlada69]

He did say please

[Agapios]

Pardon me if this has already been discussed, but:
Whats your thought that after bitcoin futures were introduces we go now some people who bought shorts and they have interest to manipulate bitcoin (not futures but real bitcoin) by drawing it down. Before real interest was primary to pump and dump real bitcoin, but now some big player can all the sudden play bear market. And the tools they have different then for example with gold, or some other stock, they can play on two fields.

And people used to play bear market with other stocks can see they have big potental and possible huge huge incomes if they can draw bitcoin to its knees.

[jojo69]

In other news.....Ethereum is being smashed downwards mercilessly today.

yeah, is there news or something on this?

brutal