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

[VB1001]

Scam CIA Emails Want Your Bitcoin

Those pesky scammers are up to no good once again!

It seems that now, a cryptocurrency fan has sent out a warning that scammers are posing as the Central Intelligence Agency (CIA) to trick you into sending over your Bitcoin. $10,000 worth of Bitcoin to be exact.

"We've got pictures of you wanking, and your email list. Send money to make this problem go away"?

Incidentally, I was contacted two days ago by the FBI. For reals. About Jon Montroll's exit scam. I'll post details in the relevant pre-existing thread. Maybe tomorrow. More ron to beber first.

Lol, Do not kill the messenger, people believe everything.

[jbreher]

In other news, what is WO take on giving btc to your own children? Worth it or idiotic since they don't know how to hold it safely?

I've been giving each of my progeny -- chillens and grandchillens -- one BTC (and one BCH ((and one BSV)) ) each year since years.

I look at the addresses each year to see how they're doing with them. All hodled tightly except for minimal percentages of daughter and one son, in whom I have instructed on the incremental laddered standing order plan.

[JayJuanGee]

[...]
Well, I don't know who else would pay that much for an empty wallet... Seems like a bit of a dumb plan, though. Archived in case the post is deleted.

Recover the BCH value?

Since the wallets will have 0 BTC at the time of transferring them to a new owner, then it is likely that they would have moved their coins before most of the forks were occurring, which started around August 2017.  Thus no Bcash coins would be in those wallets.  So far, the most plausible reason would be to be able to fake an identity.  I have not seen any better (or even somewhat feasible) explanation of motive, so far..

[bitserve]

If you wanna say "Hi" to CSW, he's here :

https://bitcointalk.org/index.php?topic=5120026

Well, I don't know who else would pay that much for an empty wallet... Seems like a bit of a dumb plan, though. Archived in case the post is deleted.

If you had lots of dodgy bitcoins.

A wallet that mined 300 bitcoins in the old days could be a viable "source" when explaining them at cash out


right?

proving the legitimacy of my coins...

I understand the reasoning, but we shouldn't have to, otherwise btc usefulness would be diminished.

If you ever plan to cash out some hundreds of thousands dollars or even just a few tens of thousands you better be able to prove the legal origin of it (if/when required to do so). Bonus if you can prove and track the entire history of it.

It's basically the same with EVERY asset. Ie: Suppose your father has some expensive Van Gogh. He, instead of donating you some (huge) money decides to just give it to you so that you can sell it for a huge amount of banking fiat in a Sotheby's auction and set you for life. But neither of you two declare the donation not pay the taxes (obviously). -> REKT!

Well, the same happens with Bitcoin. You need to prove how you obtained them, and when. You need to prove you didn't sold them previously and not pay due taxes. You need to pay your taxes.

And it is the same with cash.... it is just that in small quantities you can just USE it for daily expenses, etc... But you can't go use it to buy a home, a car, or anything "expensive" without having to prove the full trace of it.

For small quantities there's not much need to care though.

[vapourminer]

proving the legitimacy of my coins...

I understand the reasoning, but we shouldn't have to, otherwise btc usefulness would be diminished.

If you ever plan to cash out some hundreds of thousands dollars or even just a few tens of thousands you better be able to prove the legal origin of it (if/when required to do so). Bonus if you can prove and track the entire history of it.


For small quantities there's not much need to care though.

exactly that. just claiming that you traded on some obscure and now defunct exchange back in the day etc may not fly. i can directly trace the bulk of my coins right down to the day i mined them and on what pool. or traded them on a "legit" (<-whatever that means) exchange but in my case i mainly use bittrex, coinbase, poloniex or binance.. all duly reported to the irs like the dutiful little sheeple i am (which is very advisable here in the land of the "free" ie USA) which i figure is close enough.

[toknormal]

Armstrong on Bitcoin:

https://www.armstrongeconomics.com/world-news/cryptocurrency/bitcoin-v-gold/

[JayJuanGee]

In other news, what is WO take on giving btc to your own children? Worth it or idiotic since they don't know how to hold it safely?

I've been giving each of my progeny -- chillens and grandchillens -- one BTC (and one BCH ((and one BSV)) ) each year since years.

I look at the addresses each year to see how they're doing with them. All hodled tightly except for minimal percentages of daughter and one son, in whom I have instructed on the incremental laddered standing order plan.

Your practice alone is going to cause a BTC supply shortage.  Just think about the many poor folks around the world who are not even going to be able to own .1 BTC and many of your progeny will have several BTC each.  

By the way, the bcash variants are not likely to have and impact on the world in any kind of meaningful way, and if they hold them more than a few years, they are likely to increasingly decrease in value - perhaps even faster than the dollar, so likely they should spend those bcash variants first.   or better yet, convert them into BTC. #gresham's law

[JayJuanGee]

Armstrong on Bitcoin:

https://www.armstrongeconomics.com/world-news/cryptocurrency/bitcoin-v-gold/

Who cares what that dweeb has to say?   

[BTCMILLIONAIRE]

Would you be so kind as to enlighten me on slippage? In what way would it screw with trading?

I would assume the implication was that: if real volume be truly that large, then slippage should be much less than that experienced.

I understand the correlation between volume and slippage, but I'm not sure how exactly those contracts work as I've never used or read into them.

[JayJuanGee]

In other news, what is WO take on giving btc to your own children? Worth it or idiotic since they don't know how to hold it safely?

I've been giving each of my progeny -- chillens and grandchillens -- one BTC (and one BCH ((and one BSV)) ) each year since years.

I look at the addresses each year to see how they're doing with them. All hodled tightly except for minimal percentages of daughter and one son, in whom I have instructed on the incremental laddered standing order plan.

Your practice alone is going to cause a BTC supply shortage.  Just think about the many poor folks around the world who are not even going to be able to own .1 BTC and many of your progeny will have several BTC each.  

By the way, the bcash variants are not likely to have and impact on the world in any kind of meaningful way, and if they hold them more than a few years, they are likely to increasingly decrease in value - perhaps even faster than the dollar, so likely they should spend those bcash variants first.   or better yet, convert them into BTC. #gresham's law

Building a family dynasty? I like it, until the grand kids trades it all for Facebook coin.

I had already expressed a couple of years ago that I don't think it is a good idea (especially giving a whole coin each year... that is ridiculous)... but whatever.. it is a child rearing choice that is totally within his discretion.

[Last of the V8s]

Slightly different, but my Dad left a coin a year to a charity. It was pretty cunning, but is effing annoying for me, especially as he left me a lot less.

[infofront]

True, but it won't add years to your life (in most cases) and would not make you richer (on paper) as well.
Guys would be limited in children visitation rights (and, yes, in more than 90% cases children stay with mom).
It's all theoretical, as I never divorced.

Oh, sure, there's downsides as well as upsides, but I meant more in a moral sense. Being divorced doesn't make you a bad person. A country's divorce rate doesn't make the country a bad place.

Being divorced doesn't make you a bad person. It just guarantees you a place in hell. 

[HairyMaclairy]

So he claims it will be at least 6 years until we return to ATH, on no evidence whatsoever.  

I read into the blog that blogger subscribes to the 'time stretch between successive peaks' theory.

I find it ignorant of the underlying economics of the issuance halvening cycle, but it seems at least more than 'no evidence whatsoever'.

That’s fine but he should present some evidence of time stretch. Otherwise it is assuming the outcome.  

[El duderino_]

True, but it won't add years to your life (in most cases) and would not make you richer (on paper) as well.
Guys would be limited in children visitation rights (and, yes, in more than 90% cases children stay with mom).
It's all theoretical, as I never divorced.

Oh, sure, there's downsides as well as upsides, but I meant more in a moral sense. Being divorced doesn't make you a bad person. A country's divorce rate doesn't make the country a bad place.

Being divorced doesn't make you a bad person. It just guarantees you a place in hell. 

Being divorced does only make you ONE thing i guess.... to be much more CAREFUL

[HairyMaclairy]

Would you be so kind as to enlighten me on slippage? In what way would it screw with trading?

I would assume the implication was that: if real volume be truly that large, then slippage should be much less than that experienced.

Yes.  In a nutshell. 

[HairyMaclairy]

Would you be so kind as to enlighten me on slippage? In what way would it screw with trading?

I would assume the implication was that: if real volume be truly that large, then slippage should be much less than that experienced.

I understand the correlation between volume and slippage, but I'm not sure how exactly those contracts work as I've never used or read into them.

The particular trade that I found galling had me enter a stop loss at $xx93 (which was below a major support point).  The price fell through the support and the sell order executed at $xx20, which is $73 in slippage.

The most slippage I have previously experienced on breaking major support was $13 on Bitstamp at a much higher price (therefor far lower slippage in both nominal and percentage terms).

This leads me to believe that either: (a) Bitmex has exceptionally poor liquidity or (b) their proprietary trading desk is front running trades or (c) they are deliberately discriminating against fish in the order book.

The net result is the same.

While there are some complexities around whether one uses the last, mark or index price as trigger, it really all comes out in the same place.  None of this should be impacted by the particular rules of the instrument, and this was not a liquidation (I have never been liquidated and don’t intend to start).

I have had a number of other trades on Bitmex where my slippage has been about 10x what I would expect.   Given that Bitmex supposedly has 10x the volume of Bitstamp and 10x liquidity, something is rotten in the Seychelles.  I would go so far as to say either they are front running their own customers or their organic volume is about 1% of what they claim.  

[bitserve]

Would you be so kind as to enlighten me on slippage? In what way would it screw with trading?

I would assume the implication was that: if real volume be truly that large, then slippage should be much less than that experienced.

I understand the correlation between volume and slippage, but I'm not sure how exactly those contracts work as I've never used or read into them.

The particular trade that I found galling had me enter a stop loss at $xx93 (which was below a major support point).  The price fell through the support and the sell order executed at $xx20, which is $73 in slippage.

The most slippage I have previously experienced on breaking major support was $13 on Bitstamp at a much higher price (therefor far lower slippage in percentage terms).

This leads me to believe that either: (a) Bitmex has exceptionally poor liquidity or (b) their proprietary trading desk is front running trades or (c) they are deliberately discriminating against fish in the order book.

The net result is the same.

While there are some complexities around whether one uses the last, mark or index price as trigger, it really all comes out in the same place.  None of this should be impacted by the particular rules of the instrument, and this was not a liquidation (I have never been liquidated and don’t intend to start).

I have had a number of other trades on Bitmex where my slippage has been about 10x what I would expect.   Given that Bitmex supposedly has 10x the volume of Bitstamp and 10x liquidity, something is rotten in the State of Seychelles.  I would go so far as to say either they are front running their own customers or their organic volume is about 1% of what they claim.  

Makes sense. OR... maybe traders at Bitmex are *WAY* more prone to using leverage and stop loses which causes *HUGE* slippage due to "cascading" than Bitstamp traders. Think about it... it also makes some sense.

[HairyMaclairy]

Assuming it’s all completely innocent, we still end up in the same place. Bitmex does not have an acceptable level of liquidity to support market orders. Which is kinda important. 

[HI-TEC99]

Interesting stat: Belgium has a very high divorce rate (70%).

Nothing wrong with divorce.

True, but it won't add years to your life (in most cases) and would not make you richer (on paper) as well.
Guys would be limited in children visitation rights (and, yes, in more than 90% cases children stay with mom).
It's all theoretical, as I never divorced.

Which of these life phases are you up to? The marriage phase of your life, or the having kids phase?

[El duderino_]

^
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