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

[JayJuanGee]

shorting attempts are NOT profitable?

Shorting attempts not profitable??

via Imgflip Meme Generator

You have no google?

I have not heard much out of Tone Vays recently, but whatever, I am asking d_eddie because it seems to me that d_eddie is employing a much more interesting strategy than Tone Vays.  Interesting partly because d_eddie attempts to be somewhat neutral towards price while expecting a long term BTC price increase.  Sure, Tone expects BTC prices to go up in the long run, but he also tries to trade based on his expectations of direction - and surely less incrementalism than d_eddie...> In other words, between d_eddie and Tone Vays, I am NOT sure who is employing more SOMA.^TM

[jojo69]

Fucking Erdogan man...lame

[Biodom]

Tone Vays...this is getting progressively more tiring.
Where does he get all this nonsense? From connecting a couple of dots with a straight line?
In addition, I don't believe that he is going to sell his apartment and buy btc at 2600. It wouldn't make any sense.
Vays is bitcoin's Robert Prechter.

[BitcoinNewbie15]

Has anyone else noticed the severe drop in liquidity on coinbase pro for BTC/USD?? Order book averaged about $50 million+ in buys all the way down to $2200 up until yesterday. Within the last 24 hours it dropped from $50 million down to barely over $10 million. What happened here?

[HairyMaclairy]

Has anyone else noticed the severe drop in liquidity on coinbase pro for BTC/USD?? Order book averaged about $50 million+ in buys all the way down to $2200 up until yesterday. Within the last 24 hours it dropped from $50 million down to barely over $10 million. What happened here?

You posted the same thing yesterday. Order books are irrelevant - whales use APIs.  

[vapourminer]

Trezor (security by open-source) or Ledger (security by obscurity)?

which do you prefer?

 

trezor.. security via open source. had a trezor since 2016

i have several trezor model ones (one will do u2f), a trezor t and a ledger. the trezor seems easier and more intuitive than the ledger. and it seems i always have issues with the ledger, minor ones but annoying.

[OROBTC]

Number of #Bitcoin addresses holding more than 1000 $BTC 👀

via Imgflip Meme Generator

https://twitter.com/glassnode/status/1182674900496146432?s=21

Maybe I'm reading the graph wrong, but it looks to me like ~10,500 addresses holding 1000 BTC (or more) would mean that those addresses (not wallets w/ more than one address) would own:

10,500 addys * 1000 BTC = BTC10,500,000

Or well over 50% of the BTC mined so far...

Maybe it's wallets holding over $1000 worth of BTC?  The twitter link sort of suggests that too.

[jbreher]

And as far as BSV is concerned, well let's not. Its been proven an outright scam by this point and there's nothing left to be said.

Defend your statement. In what way is BSV -- the blockchain, the payment system, and the protocol -- a scam?

Don't try to make this an argument of semantics when you know full well what I'm referring to. That's weak sauce.

Get real. I am merely responding to your literal fucking words. If you don't mean to imply that BSV itself is a scam, then don't say "as far as BSV is concerned, well let's not. Its been proven an outright scam". Because that would be lying, you conniving bastard. And lying is scammy behavior. Should we all tag you now?

Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

I am talking about the reason why BSV was born: it was born as a scam.

Meaningless drivel.
There was a split in the community as to the proper way forward. Small blockers thought the the big blockers' route would break Bitcoin. Big blockers thought the small blockers' route would break Bitcoin. That's not a scam, you nincompoop. That's an honeest disagreement about the properties of the protocol.

You ignored my entire defense

What defense?

If you want to counter something, counter the reasoning below:

I'd be happy to, if you had something to respond to other than 'a couple of the people who believe this is the route forward have engaged in behavior I consider unsavory'. But you don't. There is nothing to respond to.

Again: Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

[Biodom]

Number of #Bitcoin addresses holding more than 1000 $BTC 👀

via Imgflip Meme Generator

https://twitter.com/glassnode/status/1182674900496146432?s=21

Maybe I'm reading the graph wrong, but it looks to me like ~10,500 addresses holding 1000 BTC (or more) would mean that those addresses (not wallets w/ more than one address) would own:

10,500 addys * 1000 BTC = BTC10,500,000

Or well over 50% of the BTC mined so far...

Maybe it's wallets holding over $1000 worth of BTC?  The twitter link sort of suggests that too.

No, redline is the number of addresses (values on on the left, about 2100 addr), grey line-price of btc (value on the right in log scale).
2100X1000=at least 2.1 mil btc (in reality, much more since some addresses have MUCH more than 1000 btc).

[Searing]

Interesting...SEC files emergency relief against Telegram token (TON).
https://www.sec.gov/news/press-release/2019-212
Someone already invested 1.7 bil.
I wonder how this would progress.

This is the USA and the SEC. Let's see. $1.7 Billion dollars. (grabs calculator for his SEC guess on fine)

I bet they settle it for $210 million and then let it proceed. Hey, it is how we roll in the USA and the SEC.

Pay us some meagre fines and voila you are off the hook.

https://www.engadget.com/2019/10/01/sec-fines-block-one-24m-unregistered-ico-worth-billions/

See SEC fines Block.one above $24 million USD only. The fact is they made billions. It will be the same for Telegram token TON.

Rinse/Wash/Repeat. Money talks/bullshit walks. It is how the SEC rolls in the USA.

Brad

[OROBTC]

...

@ Biodom

OK, I read the graph wrong, I see that your explanation makes more sense.  Thank you.

In particular, it looks like I read the axes wrongly.

[Biodom]

Interesting...SEC files emergency relief against Telegram token (TON).
https://www.sec.gov/news/press-release/2019-212
Someone already invested 1.7 bil.
I wonder how this would progress.

This is the USA and the SEC. Let's see. $1.7 Billion dollars. (grabs calculator for his SEC guess on fine)

I bet they settle it for $210 million and then let it proceed. Hey, it is how we roll in the USA and the SEC.

Pay us some meagre fines and voila you are off the hook.

https://www.engadget.com/2019/10/01/sec-fines-block-one-24m-unregistered-ico-worth-billions/

See SEC fines Block.one above $24 million USD only. The fact is they made billions. It will be the same for Telegram token TON.

Rinse/Wash/Repeat. Money talks/bullshit walks. It is how the SEC rolls in the USA.

Brad

Right.
In the mean time there is a draft of new 140 form where question of "virtual currency' is on line 1.
https://www.accountingtoday.com/news/irs-revises-form-1040-schedule-to-ask-about-cryptocurrency
how important are these miniscule taxable proceeds are?
Apparently, important enough to put them on line one.
Realistically, though, we have a 20 tril economy and crypto income and cap gains has got to be a pimple on elephant's skin (so far)

[HairyMaclairy]

And as far as BSV is concerned, well let's not. Its been proven an outright scam by this point and there's nothing left to be said.

Defend your statement. In what way is BSV -- the blockchain, the payment system, and the protocol -- a scam?

Don't try to make this an argument of semantics when you know full well what I'm referring to. That's weak sauce.

Get real. I am merely responding to your literal fucking words. If you don't mean to imply that BSV itself is a scam, then don't say "as far as BSV is concerned, well let's not. Its been proven an outright scam". Because that would be lying, you conniving bastard. And lying is scammy behavior. Should we all tag you now?

Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

I am talking about the reason why BSV was born: it was born as a scam.

Meaningless drivel.
There was a split in the community as to the proper way forward. Small blockers thought the the big blockers' route would break Bitcoin. Big blockers thought the small blockers' route would break Bitcoin. That's not a scam, you nincompoop. That's an honeest disagreement about the properties of the protocol.

You ignored my entire defense

What defense?

If you want to counter something, counter the reasoning below:

I'd be happy to, if you had something to respond to other than 'a couple of the people who believe this is the route forward have engaged in behavior I consider unsavory'. But you don't. There is nothing to respond to.

Again: Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

And as far as BSV is concerned, well let's not. Its been proven an outright scam by this point and there's nothing left to be said.

Defend your statement. In what way is BSV -- the blockchain, the payment system, and the protocol -- a scam?

Don't try to make this an argument of semantics when you know full well what I'm referring to. That's weak sauce.

Get real. I am merely responding to your literal fucking words. If you don't mean to imply that BSV itself is a scam, then don't say "as far as BSV is concerned, well let's not. Its been proven an outright scam". Because that would be lying, you conniving bastard. And lying is scammy behavior. Should we all tag you now?

Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

I am talking about the reason why BSV was born: it was born as a scam.

Meaningless drivel.
There was a split in the community as to the proper way forward. Small blockers thought the the big blockers' route would break Bitcoin. Big blockers thought the small blockers' route would break Bitcoin. That's not a scam, you nincompoop. That's an honeest disagreement about the properties of the protocol.

You ignored my entire defense

What defense?

If you want to counter something, counter the reasoning below:

I'd be happy to, if you had something to respond to other than 'a couple of the people who believe this is the route forward have engaged in behavior I consider unsavory'. But you don't. There is nothing to respond to.

Again: Defend your statement. Or retract it. Any other path forward for you would be dishonorable.

You forgot the bit where the big blockers try to fool newbies into thinking Bcash lol and BSV are Bitcoin.


Your entire value proposition is based on fraud.  

One of these logos is a BSV logo.  One of these logos is a Bitcoin logo.  I can’t tell the difference so I can’t see how a newbie could.  This is plainly fraudulent passing off.  

[infofront]

Number of #Bitcoin addresses holding more than 1000 $BTC 👀

via Imgflip Meme Generator

https://twitter.com/glassnode/status/1182674900496146432?s=21

More BTC being handled by exchanges, or whales accumulating? Maybe a bit of both

[Lauda]

We are in an interesting area. The hashrate is stilling catching up.

[jbreher]

This is from their FAQ:

"When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency."

You bolded the wrong part, so I underlined it. If you never split the new coins from the base chain, there is no tx recorded on the distributed ledger. And therefore, by definition, those coins have not been received.

[smartcomet]

Number of #Bitcoin addresses holding more than 1000 $BTC 👀

via Imgflip Meme Generator

https://twitter.com/glassnode/status/1182674900496146432?s=21

https://twitter.com/woonomic/status/1182754062107852802

IMO we're likely in a new renaissance of Bitcoin, this one is powered by capital influx of high net worth investors, while the early one was from the tech savvy who were bootstrapping the network.

Super Bullish.

[d_eddie]

Hopefully this is not too complex of an issue for you to attempt to address, which is largely how do you stay profitable during exponential BTC up periods, or do you just factor in that there might be short periods, such as the one between April 1 and June 27 that your shorting attempts are NOT profitable?

Giving you an exhaustive answer is difficult, especially since I have no historical log of my trading moves - only of the transfers from play stash to cold storage when I accumulate enough profit. I don't remember what I was doing in the time frame you mention. What I remember is that I only started the two legged setups after seeing the mammoths, that is, when I felt the bear paws getting too close for comfort. It was the start of the latest bear market.

In general, I won't open a short out of the blue. Well, I did the first couple of times, during the mammoth era, while I was looking for a workable approach. However, I did have some trading experience already, so I was carefully humble - and probably lucky.  There was no loss. Nowadays when I hold a short position, it always has an opposing long, although sizes can and often do differ.

During an exponential up, I aim at not having any short open. So I set stops - even redundant ones, because fuckery exists. Besides, there are longish periods of rest without a single trade. On the other hand, if I spot a solid uptrend, I open a long position and leave it there or play a simple ladder similar to what you do. It's when it gets choppy, she goes down and my long hurts that I start thinking about a short-lived short. Or alternatively I open both positions almost at the same time, trying to start with the short higher than the long.

At the moment my long is still unhappy, but the short is green. Barely: there's still no room for a stop that leaves me in profit. So I'll let things stay as they are until a clear direction emerges. My SOMA expectation is a bloody weekend with slow, soft recovery on Monday. If things get brutal, my short will pay me a few more pennies. If she skyrockets, I'll lose some on the short (stops in place already), but the long leg will fly unencumbered. It has no stops, but if we get close to 5k I'll reconsider and taper it down before it liquidates (under 4k). In this gloomy scenario, the short will hopefully save my ass.

Summing up, I don't have an exact system. I oscillate between ladder up (basically what you do, only with margin), a double ladder (one up, one down) in times of calm range swings, and furious scalping/rebuilding on the short in times of trouble, when I have a suffering long that needs more support. Which is the current situation. The idea is to have a decently sized short position ready to cash out before the long goes belly up. It needn't necessarily have to make up for the whole loss, as long as it avoids liquidation. If (when!) the price goes back up, I'll regain most of the losses, or gain even more depending on the price trajectory and on my moves - such as possibly increasing my long after I feel the bottom is in, as long as the position remains small compared to the stash size.

[Biodom]

This is from their FAQ:

"When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency."

If you never split the new coins from the base chain, there is no tx recorded on the distributed ledger. And therefore, by definition, those coins have not been received.

Brilliant.

However, the way they did it you would have income first (after performing the splitting txn) and then cap gains on the price difference when sell/exchange.

[JayJuanGee]

Has anyone else noticed the severe drop in liquidity on coinbase pro for BTC/USD?? Order book averaged about $50 million+ in buys all the way down to $2200 up until yesterday. Within the last 24 hours it dropped from $50 million down to barely over $10 million. What happened here?

You posted the same thing yesterday. Order books are irrelevant - whales use APIs.  

Didn't Coinbase pro have a recent increase in their trading fees too? That could possibly have been a partial explanation, too, no?