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

[ChartBuddy]

Explanation

[JayJuanGee]

"imagine a bitcoin"  then "imagine..."  then "imagine...."
Lot's of imagining going on.

Bitcoin is considered to be a great innovation because it is virtual cash.  I am just a step ahead of everybody here: I virtually trade it. 

From what I have seen of your various writings over the last several months, I will grant that you seem to have a fairly well developed imagination, relatively speaking.     

[zimmah]

"imagine a bitcoin"  then "imagine..."  then "imagine...."
Lot's of imagining going on.

Bitcoin is considered to be a great innovation because it is virtual cash.  I am just a step ahead of everybody here: I virtually trade it. 

From what I have seen of your various writings over the last several months, I will grant that you seem to have a fairly well developed imagination, relatively speaking.     

I imagine you imaging his imagination of virtually trading digital currency on an imaginary exchange.

Sound a bit like the story around mt. Gox

[YogoH]

https://twitter.com/barrysilbert/status/482951689381904384

Results of our US Marshals bitcoin syndicate:

Bidders - 42
Bids received - 186
BTC quantity bid - 48,013

Winners notifed by USMS on Mon

Wow thats actually really good for just Second Market

[JayJuanGee]

https://twitter.com/barrysilbert/status/482951689381904384

Results of our US Marshals bitcoin syndicate:

Bidders - 42
Bids received - 186
BTC quantity bid - 48,013

Winners notifed by USMS on Mon

Wow thats actually really good for just Second Market

Just from this data, we can extrapolate that the average bid through the Second Market syndicate was for about 258 BTC, and that on average each bidder made 4.5 bids.  Those results may NOT be too far removed from the behavior of larger fish who were bidding on the whole lots.

Also since the minimum bid was for 2,656 BTC, at most (through the syndicate), Second Market put in 18 bids to the US Marshalls.

[JorgeStolfi]

https://twitter.com/barrysilbert/status/482951689381904384

Results of our US Marshals bitcoin syndicate:

Bidders - 42
Bids received - 186
BTC quantity bid - 48,013

Winners notifed by USMS on Mon

Er, sorry to have to ask, but how can they bid for 48,013 BTC if there are only 29,656.51306529 BTC for sale?

As I understood from the USMS specs, if someone places mutiple bids that add up to more than the 10 lots, some of the bids will lose for sure -- those with lowest price, or those submitted later if they have the same price.  What am I missing?

Also, the auction is for 9 lots of 3000 BTC and one of 2,656.51306529  BTC.  So they bid for 16 lots of 3000; what are those 13 extra bitcoins? The SM fee?

EDIT - presumably they discarded the lowest bids and submitted to the USMS only bids for 10 blocks with the highest sydicate bids, is that it?

[Dotto]

Everytime I hear Wagner I feel like invading Poloniex

[conspirosphere.tk]

if someone is holding you... and saying, "your bitcoins or your life", which one would you prefer to keep? 

My solution is XMR.  If my balance can not be known, I can give up a throw-away wallet.  If the fact that I have a balance can not be known, I will never be targeted for extortion.

That leaves a rational option to the extortionist: to torture his victim the longest possible time disregarding the number and contains of any wallet that he could be handed -unless he's happy with it-. So in a Mad Max scenario only the suspect by someone that you may have crypto could lead to great misfortunes. Better learn to stay mum a.s.a.p.

[BitAddict]

https://twitter.com/barrysilbert/status/482951689381904384

Results of our US Marshals bitcoin syndicate:

Bidders - 42
Bids received - 186
BTC quantity bid - 48,013

Winners notifed by USMS on Mon

Er, sorry to have to ask, but how can they bid for 48,013 BTC if there are only 29,656.51306529 BTC for sale?

As I understood from the USMS specs, if someone places mutiple bids that add up to more than the 10 lots, some of the bids will lose for sure -- those with lowest price, or those submitted later if they have the same price.  What am I missing?

Also, the auction is for 9 lots of 3000 BTC and one of 2,656.51306529  BTC.  So they bid for 16 lots of 3000; what are those 13 extra bitcoins? The SM fee?

EDIT - presumably they discarded the lowest bids and submitted to the USMS only bids for 10 blocks with the highest sydicate bids, is that it?

Exactly. They got several bids, but the only submitted the higher ones. No need to send the ones they are already outbidding.

[Wolf Rainer]

We are ready to go up now? The FBI bids has ended so the manipulation of the market has ended.

[justusranvier]

I am NOT poo-pooing the idea of taking preventative measures.  In fact, I applaud the taking of various preventative measures, yet when push comes to shove, we may be in a situation in which you gotta produce something b/c your hostage taker knows too much.. and it may even be related to someone who knows you well leaking information about you (which is a likely scenario.. an ex-wife.. or a nephew or some other ptiot confident)

The best way to resist extortion is to be incapable of complying.

There are some very useful things that could be done with multisig toward that end.

[anujjain]

We are ready to go up now? The FBI bids has ended so the manipulation of the market has ended.

Nah, we have to wait till monday evening when bid will be open, before that nothing will be change.

[Krabby]

We are ready to go up now? The FBI bids has ended so the manipulation of the market has ended.

Only 100k more to go...

[aminorex]

if someone is holding you... and saying, "your bitcoins or your life", which one would you prefer to keep?  

My solution is XMR.  If my balance can not be known, I can give up a throw-away wallet.  If the fact that I have a balance can not be known, I will never be targeted for extortion.

That leaves a rational option to the extortionist: to torture his victim the longest possible time disregarding the number and contains of any wallet that he could be handed -unless he's happy with it-. So in a Mad Max scenario only the suspect by someone that you may have crypto could lead to great misfortunes. Better learn to stay mum a.s.a.p.

That's a large part of the reason why I am pseudonymous here (and if you have the will and ability to link me to my legal name, please keep quiet -- but also, don't be too sure, as I have some misdirection applied).  IRL only a small number of people can link me to crypto, and they have no idea how much xmr I hold.  btc is a little different.  I'm more open about that.  By the time it is an issue, I think most of my wealth will be in XMR due to relative rates of appreciation.

[aminorex]

...and if you have the will and ability to link me to my legal name...

Look, its Elvis!

Okay, now I've been accused of being Satoshi Nakamoto, a Discordian Pope, and Elvis.  I should get a badge or something.

[ChartBuddy]

Explanation

[ErisDiscordia]

...and if you have the will and ability to link me to my legal name...

Look, its Elvis!

Okay, now I've been accused of being Satoshi Nakamoto, a Discordian Pope, and Elvis.  I should get a badge or something.

But you are a Discordian Pope, don't you know that?!

Of course, Discordians are forbidden to agree with each other so you should probably deny it.

[CEG5952]

Looking at Huobi's chart, I see a 5-wave up. The last attempt up was very weak, seems time for a corrective down. I'm looking at $575-580 area on Bitfinex, maybe a spike lower on BTCE, over the next day or so.

[Wolf Rainer]

We are ready to go up now? The FBI bids has ended so the manipulation of the market has ended.

Nah, we have to wait till monday evening when bid will be open, before that nothing will be change.

So we will see change in the first of July, new month, new price fight. How much bidders has entered to the FBI auction?

[roslinpl]

Explanation

One thing I am sure for 100%.

In few years when I will open this thread and check our historical posts I will have a tear in my eye - because no matter what is happening with the price now ... future price will be much much higher and nothing can stop us