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Question: Closing BTC Price June 28:
$0 - 5 (3.3%)
<$7,000 - 4 (2.6%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.7%)
$8,500-$8,999 - 3 (2%)
$9,000-$9,499 - 4 (2.6%)
$9,500-$9,999 - 26 (17.1%)
$10,000-$10,499 - 24 (15.8%)
$10,500-10,999 - 12 (7.9%)
$11,000-$11,499 - 14 (9.2%)
$11,500-$12,000 - 14 (9.2%)
>$12,000 - 32 (21.1%)
>$20,000 - 13 (8.6%)
Total Voters: 152

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21242747 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (66 posts by 16 users deleted.)
cAPSLOCK
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October 15, 2018, 05:30:03 PM
Merited by Icygreen (1)

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today


Having said that they do claim to have proven the funds and even if tether is worth 0, it still only accounts for only 2.1% of the total market cap of bitcoin, so appart from the FUD value, it's relitivly meaningless.

I don't understand why people continue to make this argument as if it's significant.

2% of bitcoin's marketcap is HUGE and easily enough to control the entire market, since only a tiny proportion bitcoin's supply is ever to be found on orderbooks. The significant ratio is not Tether Marketcap/Bitcoin marketcap but Tether Marketcap/Bitcoin Orderbook size.

Anyway, it doesn't matter. Just the fact that there's an arbitrarily controlled counterfeit money supply that requires no backing, is supported by the biggest exchanges, and is created at will by a private entity in the Cayman Islands is easily enough to scam the entire industry and implode the market if and when it goes tits up.

Here in fact is the "MT Gox" effect right in front of our faces:




Your fear is well founded.

But Bitcoin is stronger and more important than Tether.  Tether going tits up as you say would have a significant negative impact.  But I think it would be less than the impact of Gox in the past.

Bitfinex and their USDT should be shaking in their boots with Fidelity, Bakkt etc coming on board.  The tiddlywinks days of shady exchanges and monopoly money are coming to and end.

With fireworks?  Maybe.  But it might not matter in the end.  The things that are coming will dwarf all this in the end.
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October 15, 2018, 05:33:50 PM

Most people voted $6,500-$7,000 in the poll, and we're still below that... smh...

BELOW 6,5k     i migt have some powder in my eyes

Above 7k and I will have powder in my nose.
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October 15, 2018, 05:53:10 PM
Merited by JayJuanGee (1)


Anybody mind explaining to me how tether works and how it's relevant to bitcoin price at all?

1. There is a blockchain that is unlike any other in that it has no protocol defining the coin supply automatically. It just gets added to manually on an arbitrary basis by a human being

2. The ability to do this is under the exclusive power of a private company registered in the Cayman Islands with a couple or more private shareholders

3. There is a notional idea that the amount of coin supply represents the amount of "real" $USD that is sent to the bank accounts of that company registerred in the Cayman Islands. But this is simply an unverifiable fairy tail as far as regular traders and observers are concerned

HOW IT AFFECTS BITCOIN

1. Many of the biggest exchanges in the world that quote "USD" prices for bitcoin are actually trading bitcoin against this "synthetic blockchain dollar" as opposed to real bank deposits

2. In particular, the largest exchange in the world (is it ?) - or one of them, Bitfinex

3. Bitfinex also happens to be owned/run by the same owners of the Cayman Islands company that produce the "fake" dollars, So this would effectively allow them to create any amount of liquidity for nothing on the USD side of the trade and buy of the bitcoin on their own or other exchanges, thereby creating hugely artificial market pumps/dumps. We do in fact see Bitfinex leading the price in a lot of pumps as we did today

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today


There is also a campaign of mis-information and FUD surrounding Tether for the last year, some people appear to have a vendetta against Bitfinex and tether.
The evidence provided to show that Tether is a fraud doesn't stand up to scrutiny.
The more mud that is thrown, the more fools seem to jump on the anti-tether narrative. But there is almost no real evidence!!!

I'm not claiming it is or isn't true. Tether have failed to prove they have the dollar backing for every tether in existence, and this is clearly an issue,  but it is not hard to imagine reasons why they are not able to perform a full audit. Detailing where the $2.5 Billion dollars are actually located will no doubt open them up to fund freezing by a number of countries.

Caution is essential, but keep the risk in perspective, Bitfinex and Tether have a reputable history.
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October 15, 2018, 05:55:10 PM

NEW CNBC: Financial services giant Fidelity takes big step into cryptocurrencies, announcing the launch of Fidelity Digital Asset Services, which will handle cryptocurrency custody and trade execution for institutional investors.

Article : https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html

Fidelity ==> 7.2 trillion  Cool
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October 15, 2018, 05:59:07 PM

Above 7k and I will have powder in my nose.

Above $7k USD and I might consider having sex again...

Depression is really setting in.

* BobLawblaw cracks open beer number four
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October 15, 2018, 06:01:08 PM

NEW CNBC: Financial services giant Fidelity takes big step into cryptocurrencies, announcing the launch of Fidelity Digital Asset Services, which will handle cryptocurrency custody and trade execution for institutional investors.

Article : https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html

Fidelity ==> 7.2 trillion  Cool

Old news are old  Undecided
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October 15, 2018, 06:05:25 PM

Above 7k and I will have powder in my nose.

Above $7k USD and I might consider having sex again...

Depression is really setting in.

* BobLawblaw cracks open beer number four

You gotta set your sights a little longer. (Beer counting should done in a 28 day cycle)  Cheesy
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yes


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October 15, 2018, 06:06:10 PM

There have been other groups showing interest in offering cryptcurrency to their customers. For now, it has not resulted in that MEGA pump (if this Tether thing is not to be counted). For now, it looks like that pump has no immediate follow up.
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October 15, 2018, 06:08:23 PM

NEW CNBC: Financial services giant Fidelity takes big step into cryptocurrencies, announcing the launch of Fidelity Digital Asset Services, which will handle cryptocurrency custody and trade execution for institutional investors.

Article : https://www.cnbc.com/2018/10/15/fidelity-launches-trade-execution-and-custody-for-cryptocurrencies.html

Fidelity ==> 7.2 trillion  Cool

Quote
“We saw that there were certain things institutions needed that only a firm like Fidelity could provide,” Jessop told CNBC, adding that it already works with 13,000 institutional clients. “We’ve got some technology that we’ve repurposed from other parts of Fidelity — we can leverage all of the resources of a big organization."

 Shocked  Cool
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October 15, 2018, 06:11:40 PM

Bitfinex and their USDT should be shaking in their boots with Fidelity, Bakkt etc coming on board.  The tiddlywinks days of shady exchanges and monopoly money are coming to and end.

Yes but... wouldn't be surprised if in 5-6 years people are cryin' about how Bakkt has become "shady as fuck" too.

Wall Street invented shady.
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October 15, 2018, 06:16:24 PM

(Beer counting should done in a 28 day cycle)  Cheesy

Fine. Average of four beers a day per 28 day cycle.

Happy now ?
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October 15, 2018, 06:17:59 PM

(further to Silbert nonsense: https://bitcointalk.org/index.php?topic=1928093.msg19172611#msg19172611)

https://twitter.com/coindesk/status/867105037721325568

Us govt financial drone Abby Johnson, CEO of @Fidelity, appeals to the developer community at #consensus2017 to help push blockchain past hurdles.

https://fidelitylabs.com/blockchain/

Quote from: fidelity
We are interested in building products that use these new systems, comply with regulation, and protect our customers

We are interested in collaborating to ensure that these systems grow with robust governance where needed

Well, this is not how bitcoin rolls. Her interests are irrelevant, and her hurdles insurmountable.

All these banksters need to shut up and suck the bitcoin cock.

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October 15, 2018, 06:20:52 PM

On April 28 2017, USDT was $0.92 and after a couple of days, BTC got huge hype.

Today USDT is $0.96 and BTC is also getting strong. Will we see the same?

Someone please quote for image.
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October 15, 2018, 06:22:02 PM

There have been other groups showing interest in offering cryptcurrency to their customers. For now, it has not resulted in that MEGA pump (if this Tether thing is not to be counted). For now, it looks like that pump has no immediate follow up.

I just honestly hope we can grapple for some kind of support or we are scaling down the green candle back to where we were for another week of sideways action
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October 15, 2018, 06:25:33 PM


The evidence provided to show that Tether is a fraud doesn't stand up to scrutiny.

LoL. It doesn't have to.

The only thing that has to "stand up to scrutiny" is the integrity of Tether's collateralisation.

Feel free to point me in the right direction.
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October 15, 2018, 06:30:09 PM

or tether knew they were solvent. spread the fud themselves. bought your bitcoins for cheap. dumped on you at the top.
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October 15, 2018, 06:30:31 PM

https://support.bitfinex.com/hc/en-us/articles/360010505034-Fiat-on-Bitfinex
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October 15, 2018, 06:30:49 PM

https://ftalphaville.ft.com/2018/10/15/1539602745000/It-s-really-happening----Woz-joins-Baroness-Mone-s-blockchain-company-/
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October 15, 2018, 06:31:45 PM

https://www.pscp.tv/w/1yoJMVyeVOWxQ
fidelity drones droning on at a conference
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October 15, 2018, 06:33:03 PM

On April 28 2017, USDT was $0.92 and after a couple of days, BTC got huge hype.

Today USDT is $0.96 and BTC is also getting strong. Will we see the same?

Someone please quote for image.
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