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

[JayJuanGee]

bitcoin dominance 60.1% by coinmarketcap
bullish as f..k

Of course, in the past few weeks, coinmarketcap did some jiggering of its algorithm that was based on delisting some of the shitcoins that were listed therein, but in the end, who gives any ratts' asses about that particular metric. 


In other words, take the bitcoin coinmarketcap distraction with a considerably BIG ASS grain of salt, in part because they are still listing a lot of non-comparables, ripple and similar coins being amongst the worst, but even ethereum has decent uncertainty with its total supply.

 Furthermore, coins can just come into existence, like Bcash and Bcash SV to all of a sudden have billions of dollars of value out of nearly pure thin air. 

How the fuck you gonna give much if any credit to those kinds of assessment regarding relative value of bitcoin except to consider the metric to be something about which dumb money gives way too much weight. 

So, in other words, take that supposedly "improved" but still "fake news" indicator with a decently LARGE ASS grain of salt.

[jbreher]

You think having a botnet of real Bots is a bad idea?

Quite. But also very hard to see how the economic and business models will ever stack up.  

They are looking to recoup maintenance cost but I don't think they will unless something drastically changes. If they break even then they will be happy.

But its added decentralized security for the network and LEA supporting Crypto so it's a Win Win in my book.

How could they break even when they are competing against ASICs in data centers?

ASIC resistant blockchains.

Its not about break even though, they aren't solely miners see.

ROI on a miner is before its obsolete.

In this example its about gaining something from a thing you have already, that could be mining a little bit.

Wont be much, but Im thinking akin to bittorrent many small equals 1 big.

Every penny they gain can be recirculated for equipment or operations. That's the sell for them.

Yup. Seems to me that they may be counting on several coin flips landing on edge. But they have huge numbers of GPUs that are overwhelmingly idle, coupled to exotic batteries that require non-stop high discharge. It's not so much a profit center, but rather a defraying of sunk costs.

[gentlemand]

Ref. Coinabse in UK:
Transactions in used to be damn quick.  Minutes, even.

A few days ago I popped a bit of fiat over to CB and sure enough it arrived in minutes - but when I went to transfer it to Coinbase Pro as I have done before - it was 'on hold'.

They now put it on hold for five days before 'releasing it'. Just so you know; 'in' is not instant anymore, it seems (at least for me).  It's a shame as getting money in fast was a big plus. That's cost me more than a few bucks.

I can't say on withdrawal of cash as I don't cash out on Coinbase, though - I have always used Stamp for that. 

Something weird's going on with faster payments to Coinbase Pro. I think they've reverted to having to wire to the EU.

[julian071]

Had a haircut today, paid 1.5 mBTC. Will it be the most expensivist haircut ever, or.....?

[HairyMaclairy]

Lloyd’s completely shut my account down and wouldn’t give me an explanation even though it was obviously bitcoin related as I was cashing out at the time.

Santander are friendlier but I would definitely recommend getting a personal banker to explain what you are doing to. This will stop issues and questions later.

I've put £10 through Lloyds to Coinbase. Those bitches didn't make a squeak.

From plenty of reading I get the impression Nationwide are the mellowest but their intermediary bank won't let them send or receive with any EU exchange.

I think from a bank to an exchange there's usually no problem. At least I've never had an issue using banks in two different countries.

It's the other way around that can sting you. Going from an exchange to a bank...

I was selling directly to people and having multiple deposits into my account. The total was high but whether they would have noticed/cared/acted differently if it was fewer larger transactions I don’t know.

I explained what it was, showed them I knew my tax implications but they just flat out refused to discuss it.

“Computer says no” bullshit.

This is different.  If you are doing LBC, expect to get shut down. LBC is just too big an anti-money laundering risk.  I don’t touch it. 

[Hueristic]

Hey - I popped a post up on the power of BTC this morning and seemed to have been blessed with much appreciation.

To:

Globb0
Biodom
vapourminer
JimboToronto
xhomerx10
JayJuanGee
Dunkelheit667
fluidjax
Phil_S
Toxic2040
machasm
mfort312
gappie

You made my day and I can spread some sM around again. Thank you.

It would have been M0ar if I wasn't dry ATM.

Great to see you posting!

Right, and most people will end up becoming worthless sacks of rotting flesh contributing nothing for the society or the planet. Less focus on "indulging" and this "comfortable" nonsense and start thinking how you can actually use it for something substantial. What will you only do without an apartment in London or Manhattan? The banks still control your minds, despite many believing that participating in Bitcoin means otherwise.

Can see someone is not a fan of epicureanism.

I Hate having to look up words!

J/K

[kurious]

It's fucking shitcoin Armageddon out there

Yup - the ALT/BTC charts are largely the opposite of the BTC/FIAT ones.

I still have too many, I was looking to sell them for BTC to cash out a little (so as not to touch the 'proper stuff' in cold storage)

Seems like I've left it a little late for most of them.  Most are zero net cost now - but still, it's an 'ouch'.


Edited for sense.

[jojo69]

here we go

[kurious]

Ref. Coinabse in UK:
Transactions in used to be damn quick.  Minutes, even.

A few days ago I popped a bit of fiat over to CB and sure enough it arrived in minutes - but when I went to transfer it to Coinbase Pro as I have done before - it was 'on hold'.

They now put it on hold for five days before 'releasing it'. Just so you know; 'in' is not instant anymore, it seems (at least for me).  It's a shame as getting money in fast was a big plus. That's cost me more than a few bucks.

I can't say on withdrawal of cash as I don't cash out on Coinbase, though - I have always used Stamp for that. 

Something weird's going on with faster payments to Coinbase Pro. I think they've reverted to having to wire to the EU.

For Pro, you go through a non-UK bank.

The trick was to pay to 'normal' CB (still UK bank) and then you can do free and instant internal transfers. 

But that door seems to be closed.

[kurious]

Hey - I popped a post up on the power of BTC this morning and seemed to have been blessed with much appreciation.

To:

Globb0
Biodom
vapourminer
JimboToronto
xhomerx10
JayJuanGee
Dunkelheit667
fluidjax
Phil_S
Toxic2040
machasm
mfort312
gappie

You made my day and I can spread some sM around again. Thank you.

It would have been M0ar if I wasn't dry ATM.

Great to see you posting!

Hey mate - we have shared a certain thread for a few years - have a couple back. 

[rdbase]

Ref. Coinabse in UK:
Transactions in used to be damn quick.  Minutes, even.

A few days ago I popped a bit of fiat over to CB and sure enough it arrived in minutes - but when I went to transfer it to Coinbase Pro as I have done before - it was 'on hold'.

They now put it on hold for five days before 'releasing it'. Just so you know; 'in' is not instant anymore, it seems (at least for me).  It's a shame as getting money in fast was a big plus. That's cost me more than a few bucks.

I can't say on withdrawal of cash as I don't cash out on Coinbase, though - I have always used Stamp for that. 


Ref: Stamp - they did start to ask a LOT of questions in late '17 about where I the coins I had sold were from.  Very intrusive and (at that time) they held a fair sum I wanted out until I answered.  I was a little rattled as it was a serious figure.  Sorted in the end - but I had to jump through hoops that were far more intrusive than ordinary KYC.

I keep a USD account at a bank in the UK so I don't lose out on the USD - EURO - GBP exchange losses.  Then use a Forex broker to get back into GBP when I need to.   That said, having USD was useful to buy back at Stamp once we bottomed out.

So far, not too many questions at the bank I have the USD a/c at.  I didn't actually say upfront it was for BTC, of course.  I just said it was 'USD investment income', which was not a lie.

Hi Kurious
I have hear many having either problems or feeling ripped off by coinbase in one way or another.
Maybe it is time to go your separate ways with this exchange once and for all. And since it looks like you are using GBP then maybe an exchange which works in the same currency would be a better fit for you.
I just received a message from another user here who told me they have been using kraken for awhile now and havent had any issues at all with even doing withdrawals of five figure amounts.
So you might want to give them a try since choosing the right exchange now a days is a difficult task to complete and having the proper one which doesnt cause you any grief with your exchange from crypto to fiat or the other way around a challenge in itself.
Hope this little tidbit helps you in some way or another.
Cheers to you.

[kurious]

I am always at your service friend


*tips hat*

Back atcha mate - and that reminds me... my hat is out of date. Hardly wore it in!  10K? 

Soooo last season.

[Hueristic]

Hey mate - we have shared a certain thread for a few years - have a couple back. 

Ohh, shit...did I do that?

Ohh well w00ps, I like being dry for the right reasons.

[HI-TEC99]

$11500 on stamp!

[kurious]

Hey - I popped a post up on the power of BTC this morning and seemed to have been blessed with much appreciation.

To:

Globb0
Biodom
vapourminer
JimboToronto
xhomerx10
JayJuanGee
Dunkelheit667
fluidjax
Phil_S
Toxic2040
machasm
mfort312
gappie

You made my day and I can spread some sM around again. Thank you.

You just did an very kind gesture toward your employé/friend
I have a small company as well with my father, brother and they both hodl Some as well, mmmm my father the least with his panic sell habit or better coins thinking (to perform better based on 0 knowledge,  cause he knows nothing)
But the 3 working for us also all have their solid investment (cause of me ) as f***ing many friends of me have @the moment
@current market i’m the man of the hour for everyone at my place .....

Thanks, Mic - and good for you, too.  Generosity is its own reward and you are a generous soul.

[Icygreen]

Observing 11575, Testing 11.7K imminent

[jojo69]

this train

bound for glory

this train

[lightfoot]

Yup - the ALT/BTC charts are largely the opposite of the BTC/FIAT ones.

I still have too many, I was looking to sell them for BTC to cash out a little (so as not to touch the 'proper stuff' in cold storage)

Seems like I've left it a little late for most of them.  Most are zero net cost now - but still, it's an 'ouch'.

It's pretty fucked up at the moment. Not a great time to dump, maybe time to grab a few cheap.

However with BTC at 11500 I'm not giving much of a fuck :-)

Did I say 115? More like almost 116....

[kurious]

Hi Kurious
I have hear many having either problems or feeling ripped off by coinbase in one way or another.
Maybe it is time to go your separate ways with this exchange once and for all. And since it looks like you are using GBP then maybe an exchange which works in the same currency would be a better fit for you.
I just received a message from another user here who told me they have been using kraken for awhile now and havent had any issues at all with even doing withdrawals of five figure amounts.
So you might want to give them a try since choosing the right exchange now a days is a difficult task to complete and having the proper one which doesnt cause you any grief with your exchange from crypto to fiat or the other way around a challenge in itself.
Hope this little tidbit helps you in some way or another.
Cheers to you.

Yes, but most GBP exchanges are not comparable in liquidity and spread to trading in USD...

I did/ still do trust Stamp - who are as close as it gets to a major UK exchange as the company is (I think) still registered in the UK.

I don't like Coinbase, but to be able to pick up quickly via an instant bank transfer was neat, once they set up a UK site in GBP.

Kraken are a big player in the Euro/BTC market, but are based in the USA, which is not so good if you have an issue and are based in Europe, as I mostly am.

[bones261]

This is starting to make me a little nervous. I'm getting deja vu December 2017. Can't the market be a little flat for a spell?

https://www.youtube.com/watch?v=dbk29JZdl5A