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

[nutildah]

... the judge is an idiot if he doesn't spend 5 minutes looking at the MIT license to know it is a spurious, vexatious lawsuit that is exploiting his court ... unless he's somehow in on the scam

The judge followed precedent and did what was expected. Its not a failing on his part so much as the UK legal system.

Regardless, the issue only affects those in the UK, who can quite easily get around it with a VPN.

Umm so, Nuremberg defense for the judge?

Not my battle. Just pointing out that nobody expected the judge to act any differently, not even Cobra. If the judge had acted differently they would have had to explain why a defendant not showing up for trial shouldn't result in default judgment for the plaintiff, and break precedent.

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[Hueristic]

Not my battle. Just pointing out that nobody expected the judge to act any differently, not even Cobra. If the judge had acted differently they would have had to explain why a defendant not showing up for trial shouldn't result in default judgment for the plaintiff, and break precedent.

True, just saying that doesn't give him a pass.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[philipma1957]

buddy dished out a pair of 34s not bad.

[ChartBuddy]

Explanation

[philipma1957]

buddy follows up with 1 more 34k +

keep them coming buddy.

[Copetech]

So I have been watching what I can only assume is a Whale bot playing out in a wave stabilization scheme on the order books of my exchange of choice. It's been fascinating, exhilarating, revolting, scary as fuck, and any number of other adjectives and descriptive phrases...

His MO is that he chooses a time when the market is relatively stable in a sidewardly mood. He places 50 BTC buy order at say 34,501.01 and another 50 BTC Sell order at 34,999.99. In a low volume time on the exchange this creates a set of walls in a $500 range. He then sets a Sell order of 10 BTC at market (let's say $34,601.01) and immediately places a buy order at $34,549.99. Now what makes me think it's a bot and not just a high-roller daytrader is the fact that every order being filled is immediately followed by an order being placed. And if the price bounces off of the 50BTC walls, it ends up creating an additional set of 10BTC bouncing orders that follow the same $50 spread pattern simultaneously with the first. At first, my thought was "why would he be executing these buys and sells at just a $50 spread?" Bit then I did the math, and watched. Every pair of buys and sells gets him $500 profit. And over a period of time, the algorithm actually seems to capture the market causing a very smooth sideways motion with very little variances outside of the $50 ping pong ball bounce. Over a period of 2.5 hrs Thursday evening, I counted 56 trade pairs, and I'm quite certain I didn't catch them all. So if we round that out to 50 trades at $500 each, that's $25,000 profit in 2.5 hours!
(Not bad in most people's perception) So I was really marveling at this and thinking "Well, Damnit! The game is rigged! If you've got enough cheese to trap the mice, you can't lose!"
Of course, that immediately led to the thought, "As a freezer burned leftover popcorn shrimp, what chance do I have of EVER accumulating THAT kind of volume!?!"
And then tonight, I saw the Bot get toasted. (I know, it'll probably all work out in his favor in the end, but let me laugh for a minute!)
I noted that the market had started to really smooth out in a sidewardly motion with a very slight Downward lean, so I started skimming through the order book, and there it was, a Buy Order for 50BTC at $34,501.01. And as I watched, the Red Candle suddenly started growing, and it went from $34,545 quickly down to $34,501 and as I watched the 50BTC buy got chewed away in seconds and the price continued down to $34,443. At this point as I scan through the order book, there are 2 50 BTC Sell orders $450 apart, but the price is still $75 below the bottom one. King Daddy escaped from the trap and not sure the Whale is even paying attention to cancel the bottom order and try to get the price back into the walls. Obviously the bot was not designed with contingency to do so automatically. 😕😟☹😲😵


-Cope

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[philipma1957]

  buddy keep ripping those 34k posts back to back.

the diff is -11%

https://diff.cryptothis.com/


Latest Block:   689581  (a minute ago)

Current Pace:   88.2827%  (110 / 124.60 expected, 14.6 behind)

Previous Difficulty:   19932791027262.74                           
Current Difficulty:   14363025673659.96                           
Next Difficulty:   between 12773186444178 and 14175733888772
Next Difficulty Change:   between -11.0690% and -1.3040%
Previous Retarget:   Today at 2:25 AM  (-27.9427%)
Next Retarget (earliest):   July 17, 2021 at 7:09 AM  (in 13d 7h 58m 1s)
Next Retarget (latest):   July 18, 2021 at 11:00 PM  (in 14d 23h 49m 43s)
Projected Epoch Length:   between 14d 4h 44m 1s and 15d 20h 35m 43s

 
...

it is very early and I had wanted -5% but -11% is far more interesting.

if it holds my teams earnings will move up a lot more in two weeks

buddy must hold the fort at 32-36k  and this has to be a bold coin grab by bitmain  and the other major gear builders.

If it is true.  price will explode when chips come back in stock.

[Syke]

What? How is this how Cobra helping Bitcoin? Did he accept the defeat?
The court case was about Bitcoin Whitepapper not about the open source license software.

The judgement prevents Cobra from distributing the whitepaper, directly or indirectly. The whitepaper is in the blockchain, so the software can be used to download the whitepaper. Thus Cobra has to block the source code too.

[Biodom]

What? How is this how Cobra helping Bitcoin? Did he accept the defeat?
The court case was about Bitcoin Whitepapper not about the open source license software.

The judgement prevents Cobra from distributing the whitepaper, directly or indirectly. The whitepaper is in the blockchain, so the software can be used to download the whitepaper. Thus Cobra has to block the source code too.

that's a strange interpretation, imho.
the f-g whitepaper was PUBLISHED, end of story.
"the whitepaper is in the blockchain"- i fail to understand this statement considering that it was a scholarly article first and foremost.

[ChartBuddy]

Explanation

[Syke]

that's a ridiculous interpretation, imho.
the f-g whitepaper was PUBLISHED, end of story.
"the whitepaper is in the blockchain"- i fail to understand this statement considering that it was a scholarly article first and foremost.

Yeah, it sucks. But since Satoshi never added a copyright notice to the actual whitepaper, CSW was able to steal the US copyright and sue in a UK court.

Hopefully COPA succeeds in their suit to invalidate the copyright.

https://twitter.com/opencryptoorg/status/1381642092624015360

[Richy_T]

Is it possible a way has been found to game the system by pushing the difficulty down and then switching all the equipment back on? I have to think that's a losing scenario but "doors and corners".

[shahzadafzal]

ChartBuddy is evolving...!!!

[Biodom]

Is it possible a way has been found to game the system by pushing the difficulty down and then switching all the equipment back on? I have to think that's a losing scenario but "doors and corners".

Are you pretending not to know what actually happened?
There is no gaming-just levers and I/O.

[ChartBuddy]

Explanation

[Richy_T]

Are you pretending not to know what actually happened?
There is no gaming-just levers and I/O.

I know what I've been told is happening. Every "China is banning Bitcoin" story in the past has proven to be bunk though.