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

[Parazyd]

Has Bitfinex stopped updating the orderbook, or just for me? bitcoinity and bitcoinwisdom show no trades for about an hour.

They seem to be experiencing DDoS or bugs. Or big traffic.

[keithers]

Has Bitfinex stopped updating the orderbook, or just for me? bitcoinity and bitcoinwisdom show no trades for about an hour.

Haven't been on bitfinex, but bitcoin Wisdom has been working fine for me all night...

[findftp]

Sideways on 600-610... This will be a long week.
Ghash.io hashrate went up again. Greedy bastards. I don't see why it's so hard for them to just create two more pools and split up.

and not to destroy the value of the single thing that their entire business relies upon.

This is not a valid argument in my opinion.
If Ghash.io was runned by JPMorgan, or any other "enemy of bitcoin"  then they would very much like to destroy bitcoin.
That said, they are probably already owned and bought by JPMorgan or one of the other banksters.

You've quoted me in a way that makes it look like I'm saying something that I wasn't trying to say!

What you might not realise is that an enemy of bitcoin does not contribute to its network positively.

It's a balancing act.

How do you make sure that your cryptocurrency doesn't get ruined?

You make sure it is as powerful as possible.

GHash makes it almost twice as difficult to 51% attack bitcoin. And in doing this, they have invested a lot and have more to lose than anybody by attacking it themselves.

THINK.

Yes they can be coerced, and their own power can be used against them by a government/private entity (same thing), but so what? We watch as our network power halves for a few hours, notice something funny is up, see Ghash dump a new blockchain on us of greater length than the current chain, and OMGOMGOMGOMG! A few blocks are fucked up! Maybe some double spends, a bunch of unconfirmed transactions. It happens - maybe - but no one is shipping you your $10k dollar order after only waiting for 3 confirmations. Bitcoins worst feasible scenario is this. This?!?

(Others such as encryption suddenly being not a thing that the universe allows for in the way we think leaves us with more problems than just BTC failing.)

Compare that with fiat?

Bitcoin beyond wins.

edit: speeling mistaeks

Thank you for your elaboration.
It makes sense.

[bangersdad]

Just to make a further point, loads of blocks on the legit chain from GHash means that they are NOT using A LOT of their potential hashing power to make a fake chain. It is more concerning when their hashrate suddenly DROPS because they still have the power, and could be using it (in theory) to make a fake chain of greater length than the main chain full of double spends etc. Every time I see a legit block from GHash I can be fairly certain that must be using their mining power for the most obvious reason, to generate bitcoin.

absolutely love your sig!!
awesome video. great music.

[KimNam]

sigh, this 590-610 sideways make me sick
not a good thing for daily trading
just leave sell order and buy order, maybe we can see the difference in a week

did FBI really sell seized coins? wtf

[rebuilder]

Has Bitfinex stopped updating the orderbook, or just for me? bitcoinity and bitcoinwisdom show no trades for about an hour.

Their API seems to be experiencing load issues of some kind. I guess any bots that may be operating on Bitfinex are out of the game for now?

[YogoH]

Bitcoin is incredible.  ONE bitcoin is over 600 dollars!!  Everyone gets hyped up over charts with moons rockets and trains but just stop and realize a digital token is worth 600 dollars.  That is absolutely amazing and even if it falls apart tomorrow, it just shows that crypto is for real and will be a huge part of human history.

[fonzie]

Bitcoin is incredible.  ONE bitcoin is over 600 dollars!!  Everyone gets hyped up over charts with moons rockets and trains but just stop and realize a digital token is worth 600 dollars.  That is absolutely amazing and even if it falls apart tomorrow, it just shows that crypto is for real and will be a huge part of human history.

[ChartBuddy]

Explanation

[Parazyd]

Bitcoin is incredible.  ONE bitcoin is over 600 dollars!!  Everyone gets hyped up over charts with moons rockets and trains but just stop and realize a digital token is worth 600 dollars.  That is absolutely amazing and even if it falls apart tomorrow, it just shows that crypto is for real and will be a huge part of human history.

LOL, like $600 is something. Wait until we hit $10000 You'll go nuts.
Bitcoin can go only one way in the long term, and that's up. Demand, demand, demand.

[YogoH]

Bitcoin is incredible.  ONE bitcoin is over 600 dollars!!  Everyone gets hyped up over charts with moons rockets and trains but just stop and realize a digital token is worth 600 dollars.  That is absolutely amazing and even if it falls apart tomorrow, it just shows that crypto is for real and will be a huge part of human history.

The difference is each new low doesn't go below the height of the last high. Also, Bitcoin are limited supply and have utility.  Oh it is fonzie, why did I even reply

[joburgtaxi]

Does anyone have or know of a BOT that I can get for Kraken yet ? Last time I enquired I got the response that the volume was too low for anyone to consider building a BOT for it.

Thanks

[TERA]

sigh, this 590-610 sideways make me sick
not a good thing for daily trading
just leave sell order and buy order, maybe we can see the difference in a week

did FBI really sell seized coins? wtf

Are you angry at the FBI for not hodling? They aren't exactly finance speculators you know.

[Parazyd]

Does anyone have or know of a BOT that I can get for Kraken yet ? Last time I enquired I got the response that the volume was too low for anyone to consider building a BOT for it.

Thanks

Don't use bots. They will just lead you to having 0 BTC. And yeah, the volume on Kraken is pretty low.

[YogoH]

Bitcoin is incredible.  ONE bitcoin is over 600 dollars!!  Everyone gets hyped up over charts with moons rockets and trains but just stop and realize a digital token is worth 600 dollars.  That is absolutely amazing and even if it falls apart tomorrow, it just shows that crypto is for real and will be a huge part of human history.

LOL, like $600 is something. Wait until we hit $10000 You'll go nuts.
Bitcoin can go only one way in the long term, and that's up. Demand, demand, demand.

600 is something incredible. I bought during the hype of the April bubble with most in the 140-160 range.  Just the fact that a digital token on a decentralized global ledger has ANY non-zero value is an incredible feat and worthy of ribbons, nobel prizes, and all the pussy Satoshi wants.

[TERA]

Does anyone have or know of a BOT that I can get for Kraken yet ? Last time I enquired I got the response that the volume was too low for anyone to consider building a BOT for it.

Thanks

Don't use bots. They will just lead you to having 0 BTC. And yeah, the volume on Kraken is pretty low.

Also I think just using exchanges is going to eventually lead everyone into having 0 BTC until the regulated exchanges open.

[razibuzouzou]

Has Bitfinex stopped updating the orderbook, or just for me? bitcoinity and bitcoinwisdom show no trades for about an hour.

f5

Confirmed, when fetching order book or trades history, Coinorama robot is getting Incapsula (DDoS protection) errors.

[KimNam]

sigh, this 590-610 sideways make me sick
not a good thing for daily trading
just leave sell order and buy order, maybe we can see the difference in a week

did FBI really sell seized coins? wtf

Are you angry at the FBI for not hodling? They aren't exactly finance speculators you know.

yeah a bit but you're right
someone said to me before, that BTC form seized account won't sold in market
i thought FBI will hold in forever
but he iis true, FBI won't dump it in market, but sell it in auction

[spooderman]

Just to make a further point, loads of blocks on the legit chain from GHash means that they are NOT using A LOT of their potential hashing power to make a fake chain. It is more concerning when their hashrate suddenly DROPS because they still have the power, and could be using it (in theory) to make a fake chain of greater length than the main chain full of double spends etc. Every time I see a legit block from GHash I can be fairly certain that must be using their mining power for the most obvious reason, to generate bitcoin.

absolutely love your sig!!
awesome video. great music.

Thank you very much.

Sideways on 600-610... This will be a long week.
Ghash.io hashrate went up again. Greedy bastards. I don't see why it's so hard for them to just create two more pools and split up.

and not to destroy the value of the single thing that their entire business relies upon.

---snip---

Thank you for your elaboration.
It makes sense.

Thank you for your appreciation, it felt good

[rebuilder]

Don't use bots. They will just lead you to having 0 BTC. And yeah, the volume on Kraken is pretty low.

I don't know, I was able to code an arb bot that was reasonably profitable, but in the end I found I wasn't up to the task of accounting for all the possible failure scenarios and decided the risk for me was greater than the reward. At the time there was a big differential between a small exchange and a larger one, and sometimes good opportunities arose when prices were fluctuating. Unfortunately, those times were also the times the API on one or the other exchange was most likely to bug out due to heavy load, and figuring out how to deal with the risks introduced by an unreliable connection seemed too much for me. Someone with actual coding skills could probably do a better job than I did, though.