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

[bones261]

Only ~280k BCH have been mined since the end of March. Plus, they have stopped only accepting BCH for their equipment. Also, they now have competitors that are putting out better equipment then they are putting out. I doubt that they have accumulated 1.2 million BCH. They are strapped for cash and it does not appear their IPO is going to go over very well. I really doubt that they are in any position to attempt to buy more BCH. However, BCH has a few more billionaires who probably do have the resources to bolster the price of BCH. I'm afraid antminer's days are numbered unless they can get something going their way ASAP.

Ok your math checks out.  So the increase in BCH from Dec 31 to March 31 is ~162,00 for mining.  214,000 - 162,000 leaves 52,000 acquired by other means.  Hardware sales of 52,000 x $1500 average price = $78 million in sales in first quarter?  I don’t know if that is realistic or not.

this is a good article on the topic. they made a good deal of BCH from sales of ASICs. https://medium.com/@btcWolves/a-bch-update-bitmain-bch-the-ipo-what-it-all-actually-means-354220b86ac3

[windjc]

Only ~280k BCH have been mined since the end of March. Plus, they have stopped only accepting BCH for their equipment. Also, they now have competitors that are putting out better equipment then they are putting out. I doubt that they have accumulated 1.2 million BCH. They are strapped for cash and it does not appear their IPO is going to go over very well. I really doubt that they are in any position to attempt to buy more BCH. However, BCH has a few more billionaires who probably do have the resources to bolster the price of BCH. I'm afraid antminer's days are numbered unless they can get something going their way ASAP.

Ok your math checks out.  So the increase in BCH from Dec 31 to March 31 is ~162,00 for mining.  214,000 - 162,000 leaves 52,000 acquired by other means.  Hardware sales of 52,000 x $1500 average price = $78 million in sales in first quarter?  I don’t know if that is realistic or not.

78 million is low. they sold a lot more than that.

[elrippos friend]

"-99.99%"... hmmm...

 

[Last of the V8s]

4am >yip >yap
dogs ever more convinced the French are invading
woof woof
geese and horses are quiet though
mrs: 'they must be in the house'
wander round with torch and crutches
a Springer thinks they're holed up in my study
open door, dogs rush in
wagging their tails?
grandson and girl fucking on my desk
emotions and laughter
rapid retreat back to bedroom
me: 'nothing, darling, just J and girl having midnight feast, forgot they were staying tbh'
mrs: 'disgusting man come here'
new hip still too painful
4:15 dogs are up now: 'let's go out'
yard starts waking up
crashing noises, giggling from study
fml not a good start to the day
shout at them to clear out
coffee and btc price: same old shit = good
logs, teamspeak, wall obs, twitter: same old shit = good
5:15 three hours ahead of self, what do?
wait, what? same old shit = good?
in a rut, can't rut, shoutyman
devil: buy a shiny to cheer self, watch tonevays live
angel: do something different
upshot: logging off for a bit

[becoin]

More mining competition should cause the cartel to break down and stabilize the Bitcoin price. 

On the contrary! Cartel break down will remove the ceiling to current bitcoin price as they sell all mined bitcoins to prevent bitmain cash price from complete collapse.

[HairyMaclairy]

V8 you are supposed to start with “be me”

[DaRude]

Only ~280k BCH have been mined since the end of March. Plus, they have stopped only accepting BCH for their equipment. Also, they now have competitors that are putting out better equipment then they are putting out. I doubt that they have accumulated 1.2 million BCH. They are strapped for cash and it does not appear their IPO is going to go over very well. I really doubt that they are in any position to attempt to buy more BCH. However, BCH has a few more billionaires who probably do have the resources to bolster the price of BCH. I'm afraid antminer's days are numbered unless they can get something going their way ASAP.

Ok your math checks out.  So the increase in BCH from Dec 31 to March 31 is ~162,00 for mining.  214,000 - 162,000 leaves 52,000 acquired by other means.  Hardware sales of 52,000 x $1500 average price = $78 million in sales in first quarter?  I don’t know if that is realistic or not.

this is a good article on the topic. they made a good deal of BCH from sales of ASICs. https://medium.com/@btcWolves/a-bch-update-bitmain-bch-the-ipo-what-it-all-actually-means-354220b86ac3

Bottom line the trend is clear, their BTC reserves are going down and bcash reserves are going up. Only one of those two is sustainable. And trends point to their BTC piggy bank already being exhausted. I'd love to short that turd on day one if they actually find enough idiots to carry them into IPO with those books. (How about we dump $10MM into illiquid market that we control thus bringing up our pre-ipo market cap by few billions! genius! Now who wants to buy these?)

Can't wait for the news, first blockchain IPO flaps on the opening day and "bitcoin" will die one more time

[bitserve]

Only ~280k BCH have been mined since the end of March. Plus, they have stopped only accepting BCH for their equipment. Also, they now have competitors that are putting out better equipment then they are putting out. I doubt that they have accumulated 1.2 million BCH. They are strapped for cash and it does not appear their IPO is going to go over very well. I really doubt that they are in any position to attempt to buy more BCH. However, BCH has a few more billionaires who probably do have the resources to bolster the price of BCH. I'm afraid antminer's days are numbered unless they can get something going their way ASAP.

Ok your math checks out.  So the increase in BCH from Dec 31 to March 31 is ~162,00 for mining.  214,000 - 162,000 leaves 52,000 acquired by other means.  Hardware sales of 52,000 x $1500 average price = $78 million in sales in first quarter?  I don’t know if that is realistic or not.

this is a good article on the topic. they made a good deal of BCH from sales of ASICs. https://medium.com/@btcWolves/a-bch-update-bitmain-bch-the-ipo-what-it-all-actually-means-354220b86ac3

Bottom line the trend is clear, their BTC reserves are going down and bcash reserves are going up. Only one of those two is sustainable. And trends point to their BTC piggy bank already being exhausted. I'd love to short that turd on day one if they actually find enough idiots to carry them into IPO with those books. (How about we dump $10MM into illiquid market that we control thus bringing up our pre-ipo market cap by few billions! genius! Now who wants to buy these?)

Can't wait for the news, first blockchain IPO flaps on the opening day and "bitcoin" will die one more time

I have mixed feelings on this one. For once I have always been very critic with some (not all to be honest) of Bitmain tactics and, mainly, I think they are a menace due to their almost monopolistic control of the mining hardware (something that seems to be lowering though)... but, OTOH, I don't think a complete instant failure would be good.

I would very much prefer they just go slowly down into irrelevancy over the years. The problem here is that they seem to be working hard to go belly up as fast as they can and that could have a negative short term impact on the ecosystem. Good thing their BTC reserves doesn't seem to be a huge threat right now as it would have been the case in 2017.

Anyway... let's see what turns out of this....

[d_eddie]

Bottom line the trend is clear, their BTC reserves are going down and bcash reserves are going up. Only one of those two is sustainable. And trends point to their BTC piggy bank already being exhausted. I'd love to short that turd on day one if they actually find enough idiots to carry them into IPO with those books. (How about we dump $10MM into illiquid market that we control thus bringing up our pre-ipo market cap by few billions! genius! Now who wants to buy these?)

Can't wait for the news, first blockchain IPO flaps on the opening day and "bitcoin" will die one more time

I have mixed feelings on this one. For once I have always been very critic with some (not all to be honest) of Bitmain tactics and, mainly, I think they are a menace due to their almost monopolistic control of the mining hardware (something that seems to be lowering though)... but, OTOH, I don't think a complete instant failure would be good.

I would very much prefer they just go slowly down into irrelevancy over the years. The problem here is that they seem to be working hard to go belly up as fast as they can and that could have a negative short term impact on the ecosystem. Good thing their BTC reserves doesn't seem to be a huge threat right now as it would have been the case in 2017.

I am with bitserve on this one. To quote the greats, we need another shitstorm like we need a hole in our heads. And as long as it's impossible to produce an accurate estimate of their BTC reserves, we can't possibly know how many waves, and how big, their death throes can create.

[HairyMaclairy]

Golden cross on 90 day MA



Golden cross on 30 week MA creeping closer

[El duderino_]

Time to surpass the 7300..... let the high Numbers come

[HairyMaclairy]

Updated article (Sept 4) on the Bitmain IPO.  

https://medium.com/@luken9888/crypto-muddy-waters-b6ad91e41b07

[scambust]

Can't wait for $7500 resistance be breached convincingly otherwise back to $6700 area again.

[Raja_MBZ]

BTC vs NASDAQ


https://bitcointalk.org/index.php?topic=1006631.msg45063701#msg45063701

Even if you find some similar pattern, there is a pretty low chance that they are correlated, and they may even have a bit of reverse correlation going on.


Perhaps your two charts demonstrate that you can compare anything as long as you tweak the time lines?

Well, this can't be ignored; they're just way too similar to be ignored. I know why you're hating it a bit, it's probably because of the difference of "billion" and "trillion" in ATH of both the graphs.

If bitcoin follows it further, we'll see a new ATH in December next year. I think none of us would mind having a new ATH next year, would you? Plus imagine for a second, if that happens then after one and a half year, people will start looking at the bitcoin's graph to see where NASDAQ is going in the future.

[vroom]

chart patterns can be found and matched to anything. it's just a matter of the correct zoom and time frame.
all this comparisons and chart predictions reminds me of this movie:



A merit for the first one who guesses the correct movie title.

[LFC_Bitcoin]

chart patterns can be found and matched to anything. it's just a matter of the correct zoom and time frame.
all this comparisons and chart predictions reminds me of this movie:



A merit for the first one who guesses the correct movie title.

Clever Will Hunting (Matt Damon)

Maybe?

[AR_fan]

chart patterns can be found and matched to anything. it's just a matter of the correct zoom and time frame.
all this comparisons and chart predictions reminds me of this movie:



A merit for the first one who guesses the correct movie title.

Pi

https://www.imdb.com/title/tt0138704/?ref_=nv_sr_5

[Torque]

OT - Warren Buffett thinks that stock buybacks are "the best use of capital"
https://www.cnbc.com/2018/08/31/warren-buffett-explains-the-enduring-power-of-stock-buybacks.html

Translation:
"Instead of cap ex investing, companies should buyback their own overpriced stock shares with free money from the gov't so that they can sell them at an even higher price to the ignorant greater fool Average Joes in the future when the economy recovers!"

Gaslighting the public at its finest, lol  

[mdayonliner]

Where ever the pattern goes, it does not matter for me....

I'm
⊂_ヽ
　 ＼＼   f*cking
　　 ＼( ͡° ͜ʖ ͡°)
　　　 >　⌒ヽ
　　　/ 　 へ＼
　　 /　　/　＼＼awesome
　　 ﾚ　ノ　　 ヽ_つ
　　/　/
　 /　/|
　(　(ヽ
　|　|、＼
　| 丿 ＼ ⌒)
　| |　　) /
ノ )　　Lﾉ
(_／

Courtesy to a twitter user.  

[ivomm]

https://www.forbes.com/sites/billybambrough/2018/09/04/bitcoin-experts-pin-price-hopes-on-early-november-heres-why/#7cee6c542256
$10K by November - I can live with that. Still a new ATH is welcome anytime!