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

[jbreher]

Are we saying that Bitfinex itself is therefore acting as the defacto trade counterparty ?  That sounds distinctly dodgy.

GalacticMindExplosion.gif

counterparties are the exchange users that are loaning (is that the right word?) those $ and/or BTC. I don't see nothing fishy *there*.

Right. And their tether is one hundred percent backed by good ol' federal reserve notes. Until we found out that that was a lie.

[nutildah]

All the charts look terrible, with the exception of 1 year and 3 hour

2 year
6 month
30 day
7 day
24 hour
12 hour

all down.

[bitserve]

Are we saying that Bitfinex itself is therefore acting as the defacto trade counterparty ?  That sounds distinctly dodgy.

GalacticMindExplosion.gif

counterparties are the exchange users that are loaning (is that the right word?) those $ and/or BTC. I don't see nothing fishy *there*.

Right. And their tether is one hundred percent backed by good ol' federal reserve notes. Until we found out that that was a lie.

Yeah, that is a different matter. I wouldn't touch a tether with a fishing rod.


Edited: I read wrong first time.

[jbreher]

Are we saying that Bitfinex itself is therefore acting as the defacto trade counterparty ?  That sounds distinctly dodgy.

GalacticMindExplosion.gif

counterparties are the exchange users that are loaning (is that the right word?) those $ and/or BTC. I don't see nothing fishy *there*.

Right. And their tether is one hundred percent backed by good ol' federal reserve notes. Until we found out that that was a lie.

Yeah, that is a different matter. I wouldn't touch a tether with a fishing rod.

Yeah, that is a different matter. Yet... the same people.

Fool me once, shame on you. Fool me twice, sha... fuh... won't get fooled again.

[JayJuanGee]

Anyhow, Richy_T took his marbles and went somewhere else.. and whined the whole time about BIG blocker nonsense including supposed censorship going on within this forum.

Hunh huh... 'supposed' ... JJG tryna make a funny.

[notocactus]

Hi WO's citizens,

The results from my analysis will make you shocked.

Stats for total merits of topics and posts (since 24/1/2018 to 11/12/2018):

ABSTRACT

• There are 60612 merited topics and 177718 merited posts.
• For topics: there are 34148 and 22047 merits sent to topics #178336 (Wall Observer) and #5193860 (10th anniversary art contest), respectively.
• For posts: here are 1486 and 1435 merits sent to posts #5.msg28 (the OP of Welcome to the new Bitcoin forum) and #2818350.msg28856522 (the OP of Merit & new rank requirements), respectively.
• The medians (p50 in below tables) of received merits for topics and posts are 2 and 1, respectively.

< ... >
Categorisations of merited-topics/ merited-posts:

Topics:

Code:

      group |      Freq.     Percent        Cum.
------------+-----------------------------------
      <= 10 |     51,609       85.15       85.15
    11 - 25 |      5,861        9.67       94.82
    26 - 50 |      1,893        3.12       97.94
   51 - 100 |        771        1.27       99.21
  101 - 200 |        324        0.53       99.75
  201 - 500 |        115        0.19       99.94
 501 - 1000 |         27        0.04       99.98
      1001+ |         12        0.02      100.00
------------+-----------------------------------
      Total |     60,612      100.00

< ... >

[bitserve]

Anyhow, Richy_T took his marbles and went somewhere else.. and whined the whole time about BIG blocker nonsense including supposed censorship going on within this forum.

Hunh huh... 'supposed' ... JJG tryna make a funny.

Know what's funny? I had a heart attack during december 2013 dump.

Now I will leave you wondering if serious or not.... I will just say that I have "the card" that enables me to joke with that as much as I want

[LUCKMCFLY]

John Stossel, the ABC and Fox News commentator gained millions of followers when he talked about Bitcoin.


Source: https://twitter.com/JohnStossel/status/1206275802570149889

“The world is 250 trillion in debt. The US now has 1 trillion dollar deficits. It’s irresponsible to not own bitcoin as a hedge in case the money managers at the central banks lose control. With negative rates, liquidity injections into overnight repo market the control is slipping”

Source: https://www.newsbtc.com/2019/12/16/tv-personality-tells-his-million-plus-followers-why-he-bought-bitcoin/

[bitserve]

Are we saying that Bitfinex itself is therefore acting as the defacto trade counterparty ?  That sounds distinctly dodgy.

GalacticMindExplosion.gif

counterparties are the exchange users that are loaning (is that the right word?) those $ and/or BTC. I don't see nothing fishy *there*.

Right. And their tether is one hundred percent backed by good ol' federal reserve notes. Until we found out that that was a lie.

Yeah, that is a different matter. I wouldn't touch a tether with a fishing rod.

Yeah, that is a different matter. Yet... the same people.

Fool me once, shame on you. Fool me twice, sha... fuh... won't get fooled again.

Fair enough. I only have there a bunch of worthless IOTAS a few BCH, BSV and BTG. No BTC (maybe dust).

[realr0ach]

What kind of sorcery is this?

This looks ridiculous. Rubbing my eyes for the 2e time...

It's because Bitfinex is a completely fake scam exchange where the entire orderbook is controlled by a single entity conjuring money out of thin air (Tethers) and trading with customer funds MtGox style, and that single entity is attempting to vacuum up the entire float in order to manipulate the market.  You would need to be a complete idiot to look at that chart and not know that enormous candle originates from a single entity.  

If that candle was from an aggregate market (numerous different people) it would be extremely bad because it would mean there's tons of overleveraged retards and the price would soon implode.  But the fact that entire candle is from a single entity means the criminal faggots that own the Bitfinex exchange are going to try to manipulate the price a lot higher soon.  Will they succeed?  Who knows.  Bitfinex has much less importance as an exchange than they used to because EVERYONE knows it's a fucking criminal enterprise now and won't go near that MtGox 2.0 exchange.  For them to rig the price, people on other exchanges would actually have to be willing to arb there, and nobody is.

[realr0ach]

My own country has bad currency, the gold price is all time highs though dollar price gold is not near 2011 prices

Yes, for the system to continue and not implode it will need a new Plaza accord.  Dollar needs to be devalued 35-40% against all other fiats overnight basically.

[Paashaas]

Relax, Bitcoin YTD is still nice.

X mass 2020 will be even better.

[realr0ach]

Not enough for real PANIC. Under $5K would probably do. And under $3K and you will see people running around screaming (me included) no matter how hard they look now.

I agree that $5k would not be a panic zone, so if anyone was actually trying to create panic on purpose they would need to dump it to at least $3k's.  Even then, they're still not going to shake out any coins because there's so many delusional people who believe their own propaganda claims that Bitcoin "will go to $1 trillion each".  And the slightly less delusional people will just think the halving will put them in the black somehow.  So if the market actually requires a shakeout and a manipulator to acquire all the float to then rig it higher, that's not going to happen.  Whoever attempts to rig it higher is gonna get dumped on lol-hard.

[Lambie Slayer]

When the Bargain Boyz step in the only panic will be panic buying. This could happen around 5 or perhaps a little lower, but 3k is not going to happen, they will buy way too much corn for that to occur.

The Bargain Boyz will let you know when the time is right. For now just nibble with a few small buys if you must, the real bargains are on the way.

[Lambie Slayer]

Primitive metals. 

https://www.zerohedge.com/commodities/us-official-gold-reserves-auditor-caught-lying

[Lambie Slayer]

Tis the season to be moving your fiat to exchanges for the deals to come. Remember when your friends and family mock you during the holidays about Bitcoin that it just means the real Bargains are beginning.

Christmas 2021 you will be a legend and the fam will be asking you if 100k is a good place to buy. 

via Imgflip Meme Generator

[Lambie Slayer]

All the charts look terrible, with the exception of 1 year and 3 hour

2 year
6 month
30 day
7 day
24 hour
12 hour

all down.

+3 for the excellent B Boyz meme  

The man is such a Bargain hunter that he wears the same shirt in multiple memes, its cheaper than buying more shirts. He needs that money for more corn.

[VB1001]

BTC Dominance: 67,5%

All good, the balls in place and loaded, waiting for the right moment to pull the trigger and buy some sats.

Have a good day.

[Lambie Slayer]

via Imgflip Meme Generator

[realr0ach]

When the Bargain Boyz step in the only panic will be panic buying. This could happen around 5 or perhaps a little lower, but 3k is not going to happen

You don't see any whale buying because the value of Bitcoin is completely nebulous and artificial, and the price has already been rigged to such huge levels that if a whale wanted to buy say 10,000 coins, that's $60 million at $6k and $40 million at $4k.  When you're dealing with trivial amounts of play money it's not a huge deal, but if some hedge fund or whatever actually did that trade at $6k and then it dumps to $4k, it's a $20 million loss in the span of hours or minutes if they get unlucky.  That's Wework-level of debacle.

Bitcoin is for pump and dump scammers and not actual investors because how much that can instantly be lost.  This is why the price is mostly moved ONLY by people who already have lots of coins and not anyone from the outside because it's way too risky - i.e. Bitmain artificially rigging the price up to try and keep their monopoly profitable.  But if the price is determined not by utility of a commodity or resource or even supply and demand at all but just people who monopolized the market in the year 2011 artificially rigging it, then it's just some BS pyramid scam.

In that circumstance, there's no difference in buying JayJuanGeeCoin, Bitcoin, or any other imaginary financial derivative on Wall Street.  They're all imaginary, valueless widgets.  You have to be buying a real commodity or business or something in order for it not to be a scam.