Topic: Wall Observer: BTC/USD Price Tracking and Discussion 2.0 (Unmoderated) - page 5. (Read 12123 times)

You should buy one for your living room. You'll never have to leave the house.

Of course you'll have to buy your own coins. But otherwise it's the perfect plan.

Good AM Bitcoinland.

Other than one little fat finger at Stamp, we seem to be continuing our trek sideways... currently $2593USD (Bitcoinaverage).

Indeed $2600 ain't a bad place to be stuck during consolidation.


They just installed one in the 24/7 store less than a block from my home, the day before last. My friend asked me about the BTC ATM she saw there when she went to use the fiat ATM there that night. Needless to say, I ran over in the morning to check it out.

It's a 2-way floor-standing Lamassu with no apparent ID snooping. The owner/manager said he installed it after several requests, none of which was from me. He seemed surprised I was inquiring until I pointed out the BTC logo on my ballcap. He'd seen it thousands of times before but didn't know what it represented.

They're still playing with their fees. The first day, they wanted 9% to buy, 3.5% to sell. Yesterday it was up to 10% and 3.5%. Today it's down to 9.3% and 2.8%.

It makes me wonder if my conversation with the merchant had any influence. I told him I would have used it multiple times if he'd had it earlier but that the buy fees were a little high. I told him I would probably continue buying mostly OTC from individuals at a lower fee except when the amounts were small enough for transportation times and costs to offset the higher fees. I also told him that he was my new go-to if I ever needed to sell some coin.

My guess is that the 2.8% goes completely to the merchant with none to the ATM operator. He may have reduced his fee voluntarily. The fiat ATM in his store has the lowest fees in the area, half of what they charge at the nearest bank.

I don't know what the transaction limits are but the only local machine with a lower sell fee (Deloitte) has a $100/day limit. The closest ATM with a 3% sell fee (York Foreign exchange) has a $2000/day limit.

New BTC ATMs seem to be popping up like mushrooms everywhere. A friend in the west-end Parkdale neighborhood told me that a machine was recently installed in her nearest 24/7 convenience store. I don't know anything about it because it's not listed on Bitcoin ATM Radar and I haven't been out to see it yet. Apparently the 60 machines listed on Bitcoin ATM Radar are just the tip of the iceberg.

We've always been very active in Bitcoin and altcoins here in Toronto (Ethereum started here) but the level of awareness among the non-tech-savvy seems to be exploding, as it seems to be worldwide. 2017 may indeed be the year of Bitcoin.

But how do you know that this run up to August 1st scaling resolution is not "buying the rumor"?

I discount the "sell on the news" event because there hasn't been much "buying of the rumor".

Haha, we'll never know  

I guess we'll have to see what their ultimate plan is on that one. It looks to me like maybe the alt coin market was their real target so far this year. I would say that the vast majority of the leverage is in the altcoin market, as their floats are so much thinner and prices started much lower. That's how they ran them up so high pricewise.

But is Bitcoin in a bubble too? Well, if you pull back and look at the chart from about March 2017 onward... it would be hard to say that it isn't. The chart does sorta look like a bubble.

But then you ask "OK then, so where's the crash?" We haven't seen that event yet, if there is even going to be one. Who knows. Maybe after SegWit we get the real crazy run up.  Or "sell on the news." Again, who knows.

One thing I'm fairly certain of, is that we aren't just going to go sideways from here forever.  

oho thanks to you too
I don't suppose you would give any names?

... (moving on) they didn't run up the 2017 market. Or am I getting that wrong?

http://steemit.com/money/@r0achtheunsavory/the-r0ach-report-16-monero-chart-looks-good-right-now

Elwar gave you the official story heard in the MSM and the rumor mill.

The unofficial story is this --

In 2013, some very deep pocket insider whale pumpers were privy to two events about 6-12 months in advance:

1) That in November 2013 the U.S. Fed was going to give a soft thumbs up to Bitcoin being considered a "legal" commodity for purchase in the U.S. (because lets face it, they couldn't really ban it anyway)

2) That the FBI was going to move in on Mt. Gox and shut it down because they already knew the exchange was insolvent (likely because they either hacked it themselves or were tipped off to it being hacked) and that it had been for quite a while. At the time, Mt. Gox accounted for 80-85% of all Bitcoin trading activity.

So what did these whale insiders do? They ran up the market as far as possible using leverage (and perhaps using the Willy Bot too), timing the top with event #1 above. The price peaked in late November 2013.

Then they coordinated their massive bear raid short with the timing of a) Fake FUD "China Bans Bitcoin!" in December 2013, and then again with b) FBI shuts down Mt. Gox by cutting off their bank account access. Mt. Gox implodes in March 2014. Mark Karpeles arrested later on.

The moral of the story is:
Whale insiders don't just massively run up a thin market with leverage, unless they've got a way to also bring it down waiting in their back pocket....

some recent USG misinfo using the quantum word to try and scare the wimmin an chilluns

https://eprint.iacr.org/2017/351.pdf

"... Our batch prime-generation algorithm suggests that, to help reduce energy
consumption and protect the environment, all users of RSA—including users of
traditional  pre-quantum  RSA—should  delegate  their  key-generation  computa-
tions to NIST or another trusted third party. ..."

Decided to all the Alt coin hodlers who have come to the spanking brand new observer thread v2.0! 

https://www.youtube.com/watch?v=R7tgQuB6BOw

Enjoy my fellow hodlers!

I think that 50 qubits was non-error corrected, so it's not that far out of the question. They have 16 qubits running already and without error correction scaling is much easier. I think the scaling impediment is the connection capability they mention - you can bet they will degrade that to get the 50 qubits running tho.

So it all means the computer wouldn't be as useful as you might expect 50 qubits to be.

^aha that's brilliant thank you so much for your insights.

It was mainly due to a correction from a jump over $1k that was far too soon. The correction made for a declining price. The longer the price declined, the less people saw it as a good investment which made it decline even more. And the longer that went on, the worse the track record and the less attractive it was to investors to invest in something that kept losing value month by month. Miners were no longer Bitcoin enthusiasts who held their bitcoins but Chinese miners who sold their bitcoins immediately to pay for high electricity and equipment costs. Miners selling with no new investors to meet the demand meant declining prices. The many bitcoin auctions of the Silk Road bitcoins added quick boosts of supply to the market.

Add to that the speculators that could make money by shorting bitcoin or selling their bitcoins in the hopes of buying lower (which was profitable).

The trolls pointed to the "willy bot" saying the jump over $1k was created by MtGox. News reports constantly pointed that Bitcoin died when MtGox crashed "Bitcoin hacked!" or some CEO of a Bitcoin company died which turned into "CEO of Bitcoin died". The longer the price declined, the more people believed that the "Bitcoin experiment failed" selling at the bottom.

pl somebody school me on the bear market from early 2014 to autumn 2015
esp.: was it about the 'scaling debate'
or 'Chinese dumping'
other factors
?

ps i get that i can just 'research it myself' - goddamn lazy newbies
but would be interested to hear from this array of commentators

My 4qubits homebread toaster can crack it on batteries

TROLOLOLOOOOL

Or rather until what were thought by men to be "laws of the universe" just weren't so.

As we know there are not 21 million coins ever available. 2-3 millions are probably lost, locked or forgotten.
This is probably the reason why we see this on going attempts by some bad actors to take control over the protocol. These guys know very well how precious these coins are and what they probably could be worth in the not so far future.
But right now there also many many alts people can choose from. And some guys will try to push one or the other alt one the same level as Bitcoin, which I believe will miserably fail due to built in governance, premine and mutability.

http://blogs.lse.ac.uk/businessreview/2017/07/04/seven-signs-of-over-hyped-fintech/ via ben_vulpes

trololol someone doesn't have any/is threatened by the bits-coins

Martin Walker is Banking and Finance Director at the Center for Evidence-Based Management (CEBMa) and produces research for financial consultancy Finadium. He has extensive experience in investment banking IT and operations. His roles included Global Head of Securities Finance IT at Dresdner Kleinwort and Global Head of Prime Brokerage Technology at RBS Markets. He also held roles at Merrill Lynch and HSBC Global Markets, where he was the Blockchain lead in Markets Operation. Additionally, Martin worked for the R3 CEV Blockchain collaborative on product development and has published two papers on the topic: Blockchain And The Nature of Money, and Bridging the Gap Between Investment Banking Architecture and Distributed Ledgers (R3 CEV Research – Mar 2017)


also https://www.bloomberg.com/graphics/2017-state-pension-funding-ratios/ via pankkake (yes!)

South Dakota alone of the United 'Sates' can manage its pension pot.



Na Roger Ver just needed a couple more Lambos to keep the scamring happy.

Which has proven rather difficult afaik. Not saying it won't happen, but claiming you're going to produce 50 qubits commercially in a few years when you don't have anything close to a working prototype seems optimistic.

Did the honeymoon just get paid for ?