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

[Raja_MBZ]

$250 move-up in 3 minutes.

[lightfoot]

Pump baby, Pump!

[podyx]

Shorters, are you ok?

[El duderino_]

Mmm Nocoiner wedding and a small pump thx for the effort btc ...... 

[Derpinheimer2]

Do you guys still consider ethereum an altcoin?

Ethereum is a coin that has no real world purpose, a supposed solution looking for "future use cases and problems" that don't exist.

Apparently it's current and only reason to exist is to allow the creation and trading of other ICO shitcoins, which in turn also have no real reason to exist.

You can debate with me on that if you want. Let's go down the existential rabbit hole together. You'll find that it's turtles all the way down.

Its got an on-chain scaling plan. It can do everything Bitcoin can, and then a lot more.

[LFC_Bitcoin]

Mmm Nocoiner wedding and a small pump thx for the effort btc ...... 

[rokkyroad]

Do you guys still consider ethereum an altcoin?

Ethereum is a coin that has no real world purpose, a supposed solution looking for "future use cases and problems" that don't exist.

Apparently it's current and only reason to exist is to allow the creation and trading of other ICO shitcoins, which in turn also have no real reason to exist.

You can debate with me on that if you want. Let's go down the existential rabbit hole together. You'll find that it's turtles all the way down.

It has done that. A horde of shitcoin ICOs. Just when I thought shitcoins were dying off the king of shitcoins came along and enabled even more shitcoins. It rained freaking shitcoins!

[Ibian]

Do you guys still consider ethereum an altcoin?

Ethereum is a coin that has no real world purpose, a supposed solution looking for "future use cases and problems" that don't exist.

Apparently it's current and only reason to exist is to allow the creation and trading of other ICO shitcoins, which in turn also have no real reason to exist.

You can debate with me on that if you want. Let's go down the existential rabbit hole together. You'll find that it's turtles all the way down.

What are the technical specs of eth anyway?

[Torque]

[wrt ETH] Its got an on-chain scaling plan. It can do everything Bitcoin can, and then a lot more.

But if it's "doing everything that Bitcoin can" then it doesn't have a reason to exist, because Bitcoin is already fulfilling that role just fine and will continue to do so.

... and then a lot more.

Top of rabbit hole generalization. Try again... but with proof, facts, or reasoning this time.  

[Derpinheimer2]

[wrt ETH] Its got an on-chain scaling plan. It can do everything Bitcoin can, and then a lot more.

But if it's "doing everything that Bitcoin can" then it doesn't have a reason to exist, because Bitcoin is already fulfilling that role just fine and will continue to do so.

... and then a lot more.

Top of rabbit hole generalization. Try again... but with proof, facts, or reasoning this time.  

If you claim there is no reason for ETH to exist, and ETH does everything Bitcoin can and then more... sorry, how are you this dumb? On chain scaling will never happen for Bitcoin. There is no plan for it. LN is flawed, but obviously useful.

[Last of the V8s]

...
Shitcoins have no fiat pairing. So if Bitcoin bleeds they bleed by default. ...

Bittrex has just this for now, but more are coming...
USD-BTC    
USD-USDT    
USD-ETH    
USD-TUSD

[LoyceV]

$250 move-up in 3 minutes.

I often notice the following pattern in the Bitcoin price: it's quite stable for hours to days, moving sideways, then suddenly it drops or shoots up in a more or less straight line. After that, it continues moving sideways.
How can that be? I can only think its being manipulated by some whale(s) keepingt he price stable until they need change. If there's a different explanation, I'd like to hear it.

[LFC_Bitcoin]

$250 move-up in 3 minutes.

I often notice the following pattern in the Bitcoin price: it's quite stable for hours to days, moving sideways, then suddenly it drops or shoots up in a more or less straight line. After that, it continues moving sideways.
How can that be? I can only think its being manipulated by some whale(s) keepingt he price stable until they need change. If there's a different explanation, I'd like to hear it.

Exactly my thinking. They obviously work with other whales to control the price.

This clearly only works during periods of low volatility & no periods of FOMO.

[jojo69]

whales this, whales that...meh

it's just the market

[hodl_2015]

[...] How can that be?

Some sell and buy a lot more than others. Even when they use multiple exchanges, it does move the price quite a bit. Exchanges (thankfully) also run 24/7 but at some times of the day or days of the week the liquidity is less than ideal. Manipulation depend on what rules you follow. I do reasonably thrust (but never used) exchanges, as in not allowing buy orders without pony up the fiat and not allowing sell orders without having the coins, and also executing order books in the order of bid/ask price.

Also, there is always a bigger fish, so trying to manipulate the price when you think you are big may backfire when it turns out you are not.

[V1lpu]

[infofront]

[strawbs]

whales this, whales that...meh

it's just the market

Exactly, more than likely just market buys and sells, probably on behalf of clients.

[Last of the V8s]

https://medium.com/@nic__carter/media-coverage-of-bitcoin-is-still-a-total-disaster-7d0d34d98971

I’m fed up with journalists who are either ignorant or unwilling to learn about cryptocurrency holding forth on its perceived weaknesses. However, there isn’t enough time in the day to rebut all of their nonsense, so I have to be selective. Here, I’m going to expose the Washington Post/Wonkblog piece for the nonsensical ramble that it is.

[JayJuanGee]

I don't think that any of us can deny that it is mainly whales pushing the price up and pushing it down.

This really has nothing to do with typical sentiment of the average user or some sort of good or bad news. Other than the fact that the whales may believe that the market will not fight them in one move or another as they swing things back and forth.

The key being, which way do these whales want the price to go? Well they are certainly not in bitcoin because they read the white paper and were inspired. They have balance sheets that need big profits.

We will see. I really do wish Wall Street would stay out of bitcoin. Bitcoin can grow without it, and will likely be around long after it.

Isn't a rule of BTC price movement (or any market in that regard) that the whales will attempt to push the price in the direction of least resistance?  As lay persons, it is not always easy for us to assess, and probably even for whales they might perform a test pump or dump, and hope that others will follow that particular direction.