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

[bitserve]

It makes all the fucking sense. Now you can short your Tether stash to hedge it for an added stability/safety.

Except you are shorting it on BFX....  

Yeah, I didn't say it was the best idea

[1714135570]

1714135570

[1714135570]

1714135570

[bitserve]

I have just remembered it has always been possible to short USDT on kraken. I did once... with not much success.

[JayJuanGee]

bitcoin will remain at 4000 for the year, but top-10 altcoins will grow due to oversold, BCH especially. In 2015, bitcoin was 200 all year, and litecoin grew from 1.3 to 8

We are not in 2015 anymore, Dorothy.  

Sure, but markets without obvious fundamentals trade the same. The absolute numbers are irrelevant here.

Do you believe that fundamentals of BTC and market dynamics are similar to early 2015?  Do you believe that charts match up, and so we are going to experience similar dynamics in early 2019 as we saw in early 2015?  

Sure, it is possible, but how much weight are you going to give to such a scenario?  How much you going to bet on such a scenario to play out?  Personally, I would not bet much on that, and even betting anywhere close to 50% on such a scenario playing out seems quite imprudent to me, but hey, to each their own.

By the way, I am not suggesting that Bitcoin does not have a fairly heavy burden to get back above $6k and to stay above $6k, I am just questioning the likelihood of painting either doom and gloom scenarios or flat price scenarios for BTC that drag out a long time based on prior charts and attempting to place a lot of credence in previous patterns.

Might be a noob question, but could you short sell BTC back in 2015? Where could you short sell BTC for the first time and when was it?

I am surely not a shorting expert, and generally, I agree with your premise that shorting options are greater now than they were in 2015.   

I am pretty sure that Bitfinex offered shorting options during the whole of 2015, and several BIG chinese exchanges (to the extent that their trade was not fake) offered bitcoin shorting in 2015.

I am not sure about any other avenues of shorting BTC that would have then been available because of course, overall, there are way more exchanges and financialization tools available now, yet I am have my doubts about folks who want to argue that bitcoin is going to zero, now, because there are way more shorting opportunities currntly available in the BTC space. 

Anyone else have more accurately and question responsive memory (and/or experiences) than me?

[JayJuanGee]

Yesterday, Bitcoin had its biggest daily trade volume in its history

https://bitcoinist.com/reversal-bitcoin-biggest-volume-history/

https://twitter.com/CryptoQF/status/1075970010168778753/photo/1

I find it strange that this is not reflected in the volume data for more reputable exchanges like Stamp.

Does that absence from the Bitstamp numbers mean that we should take the volume data with a grain of salt?  Are we being duped by some folks wanting to suggest a bitcoin trade volume level that does not exist (or an exaggerated set of data)?  Many of us likely realize that sometimes there can be misinformation that tries to manipulate us into doing something that we would not otherwise do... for example, FOMO buying.

[realr0ach]

I can't figure out which one is JayJuanGee:

[Torque]

https://twitter.com/kwilli1046/status/1075547245498511362
unmeh
very unmeh

It's impressive, until you realize that all these crossfitter women are all 18-20 yrs old and < 5'-2" tall. And former gymnasts or cheerleaders.

Show me a vid of a 35-40+ yr old doing that's at least 5'-8" tall, and I'll really be impressed.

[infofront]

It sure looks the same to me Jay.

That would just be too convenient. Bitcoin is always full of surprises.

[infofront]

[realr0ach]

It sure looks the same to me Jay.

That would just be too convenient. Bitcoin is always full of surprises.

I agree.  There's not going to be any mirror repeat of the last market cycle.  There was also no real shakeout.  There was no 'capitulation' point of a heavy dump at some supposed bottom as people claim.  There was no heavy buys all at once from anyone giving any type of impression that "oh my, the price is just too cheap here and I need to jump on it!".  No miners went bankrupt.  None of this stuff happened.  

This market is still in bear market limbo and no floor or turnaround has actually occurred.  All that happened so far was some short squeezing initiated by the fraudulent exchange Bitfinex.  It could still grind lower than $3k with companies like Bitmain imploding and going out of business, or the fraud exchange Bitfinex might try to orchestrate some more pump and dumps that fizzle out.  I guess I'm saying this market is way too full of scammers now for it to behave identically to when the price was $200 and a somewhat aggregate market actually existed.  No aggregate market exists whatsoever now.  It should behave differently.

Common sense tells me that if the price was artifically rigged upwards on Bitfinex all the way from $200 to $20,000 that some of these businesses that built their business model around artificially high prices are going to create a bitcoin holocaust on the way downward as the bubble blows up.  So for me, I'm looking for some type of event like Bitfinex and their Tethers or Bitmain imploding to be the trigger for the real bottom, but who knows.

[Elwar]

A contact of mine who works in finance just asked me how he could buy 30,000 BTC on behalf of one of his clients

So uh anyone want to do an OTC give me a PM. Introduction only, DYOR yadda yadda

I told him to go speak to Cumberland as well.  

itBit is the best way to do OTC in the US.

That's where places like BitPay and others do large OTC trades daily.

[jojo69]

why do they close the toilets before the trains  ??

You're kidding right?

That would be barbarous.

[realr0ach]

large OTC trades daily.

https://www.reddit.com/r/MGTOW/comments/a8bsa0/anon_cucks_himself/

[jojo69]

Note to self: Jojo's grocery list consists entirely of beer.

busted

[Toxic2040]

New poll seems a bit borked.

----

[yefi]

Does that absence from the Bitstamp numbers mean that we should take the volume data with a grain of salt?  Are we being duped by some folks wanting to suggest a bitcoin trade volume level that does not exist (or an exaggerated set of data)?  Many of us likely realize that sometimes there can be misinformation that tries to manipulate us into doing something that we would not otherwise do... for example, FOMO buying.

When Crypto Quantamental who compiled those figures don't appear to provide sources for their data, it makes you think so.

Their figures seem quite similar to Coinmarketcap's, and like Hairy said there's a lot of questionable volume being counted over there. Supposedly today's top exchange¹ is Coinbene (er, who?).

^{1. by counted volume}

[jojo69]

yeah, the poll is broken

[realr0ach]

Thank god Belgium finally overthrew Micgoosens, kicked him out and sent him to the UK:

https://dailystormer.name/good-news-belgians-call-for-burning-of-the-jews/

Soccer fans in Belgium chanted about burning Jews during a match in the city of Bruges, Belgian media reported.

La Derniere Heure published footage from the August 26 match on Wednesday. It shows dozens of fans celebrating their local team’s victory over Brussels’ Anderlecht team that day by singing in Flemish: “My father was in the commandos, my mother was in the SS, together they burned Jews ’cause Jews burn the best.”

[Lambie Slayer]

I can't figure out which one is JayJuanGee:

Right you paranoid schizophrenic basement dweller who hasnt smiled or laughed in 6 years. You spend time here because deep down you know you have no friends and its your only chance at human contact until you start dating Gembitz. Keep trying to distract us from the fact that you will lose your virginity to Gembitz, a girl with a penis(dats kinda gay buddy), at the 100k party. Also keep pretending you aren't Jewish. Your last name is probably SILVERstein. For someone who claims to hate his own people(the jews) because they are greedy money grubbers, you sure constantly obsess about collecting as much of a shiny primitive metal as you can. 

[realr0ach]

I can't figure out which one is JayJuanGee:

https://i.imgur.com/3VtTgEx.jpg

Right you paranoid schizophrenic basement dweller who hasnt smiled or laughed in 6 years. You spend time here because deep down you know you have no friends and its your only chance at human contact until you start dating Gembitz. Keep trying to distract us from the fact that you will lose your virginity to Gembitz, a girl with a penis(dats kinda gay buddy), at the 100k party. Also keep pretending you aren't Jewish. Your last name is probably SILVERstein. For someone who claims to hate his own people(the jews) because they are greedy money grubbers, you sure constantly obsess about collecting as much of a shiny primitive metal as you can.  

[Lambie Slayer]

I can't figure out which one is JayJuanGee:

https://i.imgur.com/3VtTgEx.jpg

Right you paranoid schizophrenic basement dweller who hasnt smiled or laughed in 6 years. You spend time here because deep down you know you have no friends and its your only chance at human contact until you start dating Gembitz. Keep trying to distract us from the fact that you will lose your virginity to Gembitz, a girl with a penis(dats kinda gay buddy), at the 100k party. Also keep pretending you aren't Jewish. Your last name is probably SILVERstein. For someone who claims to hate his own people(the jews) because they are greedy money grubbers, you sure constantly obsess about collecting as much of a shiny primitive metal as you can.  

But Mr. Silverstein, you are clearly a Jew, grubbing and lusting over a silly metal and feeding stereotypes. Will you be cooking yourself in an oven to further your cause. Surely that would be better than rotting in your basement and suffering from paranoid schizophrenia as Bitcoin goes to 100k. As you age your delusions will only get worse, your social behavior will only be more outwardly bizarre, and your pain will only grow. The world will always be a harsh and terrifying place for someone like you who cant function as a normal person. Is it worth being around just to have everyone stare at you and your freakishly odd behavior when you venture out of the basement and open your mentally ill mouth to say freakish things? Is it worth coming here and have everyone think you are a delusional low functioning basket case. Whats the point of your existence? What do you offer the world other than silly rants and repeating gibberish about Bitcoin being worthless. Is it your life that is perhaps worthless?? Thats a serious question, and I think you know the answer. What value do you add to humanity besides someone for us to laugh at bc you sold your Bitcoin in 2015 and cant get over it?? Do you really want to be around when silver becomes worthless because Bitcoin has made it obsolete as a store of value