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

[HairyMaclairy]

wtf did this really happen on bitstamp

Yes it did happen.  A crazy bot is being blamed.  But I suspect it is someone deliberately triggering stop losses / buy stops in illiquid € markets.  € markets are much thinner so easier to do this.

We saw the same whipsaw on Bitfinex only a couple of weeks ago. It will get more common as liquidity dries up.  

Easier to blame a bot so the exchanges don’t have to take responsibility for low liquidity.   

[RoomBot]

Has anyone tried this?  https://cryptvast.com/

Interesting....Just don't ..it encourages this scammery.
Just like Cryptodouble from like 3 years ago. ( I'm ashamed to admit I gambled back then and did actually win some coin)
 Obvious ponzi and most who invest know it and just do it for the gamble.
Trick is to be in early enough and you will get paid before the inevitable cut and run when operator simply shuts down and makes off with the booty,
usually a week or so depending on how many fools "invest" hoping for a greater fool.

Well, a friend recommended and got several payouts, so I tried a minimum deposit.  It has doubled on the Blockchain, just not on my dashboard yet.
It's supposed to be straight-up bot trading....of course everything in BTC is a gamble!  Nothing ventured, nothing gained....

[HairyMaclairy]

Nothing ventured, nothing gained....

Let’s keep referrals to obvious Ponzi schemes out of WO please.  

[jojo69]

well, Id like to still hear about the really good ponzis

[RoomBot]

Nothing ventured, nothing gained....

Let’s keep referrals to obvious Ponzi schemes out of WO please.  

I'm not referring anyone to anything Hairy.
I'm just Guinea-Pigging it ATM, but yeah, I hear you.  I did ask earlier if anyone knew anything about it.

[Torque]

wtf did this really happen on bitstamp

Yes it did happen.  A crazy bot is being blamed.  But I suspect it is someone deliberately triggering stop losses / buy stops in illiquid € markets.  € markets are much thinner so easier to do this.

We saw the same whipsaw on Bitfinex only a couple of weeks ago. It will get more common as liquidity dries up.  

Easier to blame a bot so the exchanges don’t have to take responsibility for low liquidity.  

It could also have been someone attempting to test the liquidity (or lack thereof) of certain exchanges.

Not only did it show just how illiquid altcoins are (and thus vunerable), but the lack of other bots following the price swings means that the majority of algo bot accounts are owned by.... dun dun dun! the exchange owners themselves.  

I.e. no one else is trading there.

[El duderino_]

via Imgflip Meme Generator

The ones that says : breakout anytime soon.... ,that are mostly the ones i watch 

Maybe i’m too big of a BULL from time to time

[HairyMaclairy]

BFX blog post re recent market rumors

http://blog.bitfinex.com/announcements/response-to-online-rumours/

[HairyMaclairy]

Mic are you a TA analyst now?  Lol. 

[crypmike]

via Imgflip Meme Generator

The ones that says : breakout anytime soon.... ,that are mostly the ones i watch 

Maybe i’m too big of a BULL from time to time

moon soon

[El duderino_]

Mic are you a TA analyst now?  Lol. 

Surely not..... but sometimes a chart passes by here and there  
And when sideways gets boring as last months , then everything gets a hodlers attention for distraction 

[crypmike]

pretty accurate  
(not my idea)

[RoomBot]

I think a toddler's doodle might be the most accurate.

[BotanicKilt]

Nice Lambo in Sydney



I know that it's McLaren 570S

[bones261]

BFX blog post re recent market rumors

http://blog.bitfinex.com/announcements/response-to-online-rumours/

I'm not thrilled with the fact that they are holding over 150K BTC in one multisign address, even though it is a cold wallet. Hopefully it is more than a 2 of 3 multisign; otherwise, all one needs to do is compromise 2 of 3 keys to steal that amount of BTC. Bitfinex already had multisign addresses compromised in the past. Also, it would have been nice if they gave us some kind of supporting document listing their fiat holdings.

Edit: Just looked. It's a 3 of 6 multisign. I guess that is a little better.   I certainly hope they have the 6 keys stored in separate locations and have a way to airgap the signing process.

[HairyMaclairy]

I know that it's McLaren 570S

Good

The BFX blog post does nothing to address concerns they are running a fractional reserve. Along with every other exchange out there. 

[jojo69]

bang bang bang bang

https://www.youtube.com/watch?v=1ysBE0dT4vg

[bones261]

I know that it's McLaren 570S

Good

The BFX blog post does nothing to address concerns they are running a fractional reserve. Along with every other exchange out there.  

Well, if they are going to run a stablecoin that claims to be backed by fiat rather than a p2p community(like most cyptocurrencies), they need to be more transparent. Oh well, I am an American; so, I really can't use them ATM. (However, I do use other exchanges that use Tether, so could still be affected if something is wrong.)  My holdings with them are dust that I left when I made my exit after their 2016 hack.

[HairyMaclairy]

The Bitcoin price moves less than 1% and Bitmex shits the bed and loses everyone’s balance for an hour.  All balances showing as zero so no one could trade. 

[jojo69]

I could swear I've heard this tune before