Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26118. (Read 26709834 times)

Good post.

Jorge, I didn't say anything about any specific blockchain at all.  I actually did not envision this working on the existing Bitcoin blockchain, although I am sure that could be done.

When I brought this to your attention, I did so simply because I genuinely thought that it might be something you might be interested in, since you have a background of having worked with some e-voting issues.  I see now that you are PROFOUNDLY uninterested, so I will let an old dog go back and lay down in the shade   I will not disturb you further.

I don't disagree with anything you have said above re: evolution, but it seems you have gone way off in the weeds to try to invalidate a perfectly good analogy.

When I originally responded to your response to Richy_T, I did so in the belief that you were dismissing the power of individuals acting freely in their self-interest to effect significant change, but after a couple of exchanges with you now, I have re-read it, and you seem to be equating 'people acting in their enlightened self interest' with 'everything that humans do, ever, full stop".  If that is indeed what you mean, then, indeed, everything that has ever happened re: the human species is definitely the result of 'enlightened self interest'.

That, however, is almost certainly not the idea that Richy_T was promoting, and that you appeared to be trying to contradict.  Re-reading that post, it seems that he never spoke of 'enlightened self interest' at all, and that concept certainly does not seem to be necessary to support the claim he was making - that local control is frequently more responsive and effective than centralized control at some higher level (if I understand him correctly).

That is an awfully permissive definition of "manipulation", though. Truth is, given sufficient buying pressure, those walls would be pulled, or absorbed, the latter at a loss (presumably) for the whale who placed them.

But maybe what I would call "larger players trying to guide the market for longer-term profit" you call "manipulation", in which case we agree on the phenomenon, even if we don't agree on the name for it.

O.k. From our understanding, the article was referring to a bitcoin mining location that was NOT even open yet; however, the bitcoin mining location was anticipated to contain four warehouses full of mining equipment and to be "one of" the largest in China. 

 I know that this is the speculation thread and all, but really,  if the location is one of the largest, but there are more similar sized ones, we have no real knowledge of how much of the bitcoin mining it currently takes nor how much mining power it will take 6 months from now or 1 year from now.  They seemed to indicate that each warehouse took about 30 days to put into place, but in the end, I remained unclear about whether any of the mining locations, at that spot were currently operational. 

Even when it is all open, could such a location mine more than 30 % of the bitcoins, unless it is conglomerated with other locations?

Explanation

$520 was the top of dead cat bounce, sub $500 downtrend again of cause

get out of here you silly troll

sub $500 soon

Ah, the reason I stopped watching Doctor Who back in the day.

Upwards momentum on daily looks moderately strong, but SMA20 (currently ~$520) won't be broken anytime soon I think. So, staying within the $490-$520 range for the coming days, then another attempt to break the resistance, otherwise acceleration downwards again?

Placing >5k in walls spread across exchanges at the same time is not normal supply and demand.  That IS price manipulation.  Did the seller decide Bitstamp coins are worth 520 and Bfx coins were only worth 515 because of value?  No, he set his walls a few USD above current price on each exchange.  Did the seller who dumped 7k coins in a single order last week do it because of supply and demand?  No, he expected to make money are long margin calls.

Btc IS a highly manipulated market.  I don't expect that to change for years, until the early adopters sell off coins.

Not a bad feeling, a good one. Somebody obviously believes there's continuing future profit to be made in BTC or they wouldn't have invested this much. Unless of course it's the Chinese government trying to "break or control" BTC

I can remember a lot of threads and comments on higher price levels where people were shouting "That's all you can do, bears (trolls)?" and a few days after there came a lot, lot more. So should I interpret your comment as a bearish indicator?

No, it's nearly meaningless who's shouting here, but I would wish to read more cautious statements, a wish that will never come true, as some people don't learn from the past and keep shouting.

It's possibly 18% IE the "unknown" mining operation.   However some could be minded via a pool, to hide the true hash power.  Or it could be discus fish.


https://blockchain.info/pools

I've got sell orders above $530 and buy orders below $495. Tired of this sideways shuffle. Do something

Now trying to subconsciously reference the willy bot from MtGox, nice try Jorge, I'm still onto you, its not going to work.

Yes I'm joking

The price dropped $5 while I was sleeping, and all the trolls came out.  Entire pages in this thread with only one or 2 comments that are not ignored.

$513 to 508.74 is enough to bring out the trolls?  That has to be bullish with less than a 1% drop is the most they can hope for.

Even one location like this is NOT going to mine all of the coins... maybe 30% at best, no?

My impression from the charts is that, since May/20, most traders would push the price down, but a few traders keep it up by a series of isolated buying spurts.  These could be fund owners trying to lift the price to the 500--600$ level and keep it there.   

Funds (all of them not just GABI) need to convince their clients that bitcoin price will go up faster than other investments.  But they would need some pretty good arguments to overcome the bad impression that clients will get from looking at a daily or weekly price chart.  (They need also to keep from clients the fact that the price is still sustained by the demand of Chinese daytraders.)

Keeping the price stable would help.  It may also make the SEC slightly more inclined to approve COIN.

But I suspect that the May/20 mini-bubble and the subsequent relative stability will bot be enough to impress clients and the SEC.  On the other hand, those buying spurts should add up to a lot more than they could earn from fees. 

Fund owners can profit a lot more when the price drops, because they can sell the coins at a higher price before the client liquidates at the lower price.  So perhaps they have pumped the price to the current range to play that trick, and will let it drop back to the 400$ range or lower once they have sold enough shares.