With the new changes, do you think Bitfinex will liquidate BTC to USD in a predictable way? Or do you think they will speculate to some extent? (i.e. not dumping every day at 00:00 UTC, etc)
Doubt it will be predictable. I really don't think they will just dump immediately. They are already floating the interest amount, so it would easily be an amount they were willing to speculate on. They have a strong incentive NOT to crash the market, IMO. |
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It's a closing pennant pattern. July 24 to August 1, I say. But I may BULL-shit you, as I usually do...  I've never heard of a closing pennant pattern before. Do you have a chart to show? It doesn't look like a bull pennant to me. |
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That is the usual way to prepare it?
I sure hope not. I usually get a shawarma plate once every week or two. Pretty sure they don't do nothing like that.  |
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That is insane. Dell.com, accepting bitcoin. I was actually thinking of buying a monitor last month with bitcoin from newegg, by converting it and exchanging it to paypal or something, and now I can directly just get the monitor off of dell with no money lost from exchanges.
Uh, doesn't Newegg take bitcoin? Maybe I misunderstood your comment. Definitely good news, though. I've never been a fan of their computers, but I hear good things about some of their other products, so maybe I will look into them some more. |
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4 confirmations in 30 minutes
I've waited 90 minutes for a single confirmation before. Your case sounds exceptionally normal. Who even makes you wait for 6 confirmations these days? |
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no one can speculate that price as only that market decides , but when the jump starts then its just a matter of time to reach to that place soon.
Pretty much. I've heard this term FOMO -- fear of missing out. When it hits, it will hit hard, and the rush to get in will be very fast. Can't wait! Just don't know when.... |
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But normal Joe Blogg's Chinese can't get Bitcoin easily and I would bet my balls that there will be still hefty import duties to pay on that PC before 'Andy' receives it. China isn't going to let it's economy be undermined so easily.
How hard is it to get money into Huobi or Okcoin these days? I don't recall them ever stopping bank transfers.... that whole PBOC thing just sort of died. Didn't it? |
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Until now, Bitfinex only collected the interest in the moment the trader closed his position, with no interest paid on the interest that was accumulated. Now, after 21, this will change and the old interest in debt will be collected.
Some crazy bulls that have been long for months might get indeed liquidated because of that. It's impossible to guess how many.
I'm not sure how this will work. The announcement said that it would be capped at $10k per day, so I'd think large trapped positions may have already started lowering their exposure after the announcement. I also read today in the TV bitcoin chat (unsubstantiated) that BFX now said it won't affect old positions -- only new ones taken. So again, not sure what to think. We'll see. So one take away is that they would not have said that unless some people owe bitfinex > 10k in interest. So there are either some very large positions and/or some very old ones. I'm sure there are people who owe much more than $10k. Given the volume at Bitfinex the past few months (aside from the current lull), it wouldn't surprise me at all. A few hundred BTC position could rack that up in a month at the current flash rate. |
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Until now, Bitfinex only collected the interest in the moment the trader closed his position, with no interest paid on the interest that was accumulated. Now, after 21, this will change and the old interest in debt will be collected.
Some crazy bulls that have been long for months might get indeed liquidated because of that. It's impossible to guess how many.
I'm not sure how this will work. The announcement said that it would be capped at $10k per day, so I'd think large trapped positions may have already started lowering their exposure after the announcement. I also read today in the TV bitcoin chat (unsubstantiated) that BFX now said it won't affect old positions -- only new ones taken. So again, not sure what to think. We'll see. |
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Molecular: These are loans funded by lenders sending hard cash to an unknown company in an unknown jurisdiction with no recourse if things go wrong. Nobody will lend money on that basis without a damn good return.
I'm not complaining about high swap rates. It's a free market. You might wonder why a trader would pay these rates. You'd have to ask them but my guess is convenience and simplicity plus what is the alternative if you want to margin trade btc but don't have ready access to cheap dollar loans. As you say, it's a free market. Well, there's Meta Trader 4 and FX Open. No interest/swaps. Isn't there no swaps on BTC.SX? Not sure. But you do then also have to deal with artificial spreads. But this kind of interest in a sideways market kills positions. |
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Pretty good news. Bullish. Thought we might see more reaction in the market, but I guess it's just more good news piled on. Too bad I'm not a fan of their computers.
Ditto on thinking we'd see more of a reaction from traders. I guess we were sliding downward, and when the news broke, we quickly bounced back. But it seems even news this good couldn't send us towards the moon.  |
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Can anyone tell me when Dank is not on drugs?
Why does everyone think he's on drugs? It seems pretty easy to troll people around here.... I'm probably missing some back story here. |
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Ever day after 21th there will be a small dump because of daily btc to usd swap. I am dumping right now first 200BTC
This dump will be sub 50BTC which is meaningless. True. Plus, I'm not convinced they will dump immediately. This is just operational books for them. They were previously floating the loans and paying out the USD. They don't HAVE TO sell the BTC they take from trading accounts. And if they do sell it, or a % of it, they don't HAVE TO do it immediately or at some set time. |
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Yes he does. Have you ever been on finance forums? People try to pump and dump all the time. Yes, people are desperate enough to baselessly try to pump the price, and some people are gullible enough to let it cloud their judgment. Also, read what I said again, because you didn't seem to comprehend. I'm not here to "gain" anything....  Do you think that the OP really would have any kind of impact on a crypto currency that has a $8 billion market cap by posting on these forums? Do I think that OP would really have any kind of impact (on the general exchange rate)? No. Do people still try this sort of thing? Yes. Do gullible people fall for it? Yes. People are desperate -- they'd definitely stoop to that, haha. I remember seeing stuff like this on the Yahoo! Finance forums. Pretty blatant, but whatever. And yeah, people be falling for it. |
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i use cryptsy because I like the interface, performance ,& high security. And they have enable trading for $ currency. One more step foward  Interesting. I actually hate Cryptsy. Their interface is horrible. They take forever to credit deposits. And their trading engine is not real-time. It's extremely laggy. Very frustrating when trying to scalp pumps. Yep, Cryptsy is pretty bad. I was really glad when Mintpal came along and starting getting some volume. Craptsy was starting to really get to me. |
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Woah, you guys are turning this into a war on mixing services? Bitmixer was doing their job. They provide a service, and it would be a useless service if they retained records that would incriminate their customers.
I think you should read what I said earlier about the "real world". Just because BTC is digital does not mean it is not subject to the same laws as physical, fiat currency. This is a money laundering service. If bitmixer can hire the same lawyers as HSBC, they can perhaps just get away with a fine. Otherwise, they will need to explain laundering $750,000 of stolen money. But as I also said earlier, it's down to klee. He can just let the criminals away with their crimes if he so decides. Saying "Bitmixer was doing their job" is like saying a hitman is doing his job. He is, if you believe it's okay to pay people to murder others for cash? Once again, it amazes me how people support blatant criminality in the bitcoin community. Interesting. Can you point to some examples of cases where BTC were stolen, and law enforcement got involved -- subpoenaed witnesses, confiscated property, etc? Regarding the bolded, it depends what you mean. Are you saying mixing services are illegal? Are you saying they are immoral? If the former, what precedent can you point to? Money laundering is the process of disguising the proceeds of crime so that the money cannot be linked to the wrongdoing. That doesn't answer the question, though. Have there been any cases like that? I'd like to know myself. |
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Sounds like they want to start finally addressing this over-leveraging issue, and cut down people's margin a bit (at least the amount they were floating for people against their future closed position P/L).
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Awesome, thanks for doing this. This is one of my favorite pictures from the United States of America. It's a "teabagger":  |
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In Los Angeles right now... July is brutal. Dog days. But I'll tell you, as brutal as the heat is, I do love watching all them girls in the sundresses walk by this time of year. Ohhh yes. That's the only upside to the summer in my eyes! Makes those boring walks and shitty commutes a bit more enjoyable, for sure. |
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