1224
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 01, 2014, 03:02:17 AM
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It may just be me but “I’m not at liberty to say why" implies something went wrong.
They lost the private key or accidentally sent the funds to the Bitcoin Eater address. They will likely wait until the bidder's fiat clears before they send, I'm assuming they didn't have to wire funds until they were notified they had won, so legacy banking speed means we might see the coins move sometime before the end of the week?
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1226
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: July 01, 2014, 01:47:12 AM
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It's nice that my alarms actually worked for once, now how to figure when to close open positions...
Should one just close now and take the profits?
Or do you just let it run and continue to let the fees eat away at profits?
Sorry for noob questions.
dear noob. If you're a noob, maybe you shouldn't use leverage. Also: if you take profit in USD you're doing that bitcoin-thing wrong. Please consider the option of closing your leveraged long position and just buying some bitcoin outright. No continiual fees attached. Thanks molecular, sorry I wasn't more clear, I've just started playing with leverage on btc.sx -it's a pure bitcoin play. I'm all out of fiat, and my mining income just isn't cutting it for me anymore, so I figured leverage looked fun. Thanks for the advice anyways tho Yeah, I think molecular was a bit harsh here. To answer your question: going long on leverage in btc is slightly less dangerous to begin with than going short on leverage, but even the latter _can_ make sense, if used very, very controlled. In your case, you're making a bit of a gamble that I personally wouldn't do: you are betting big (leverage) on a major breakout, but you don't know yet if that'll happen. I would probably suggest to close the leveraged position (and take profit in USD), but (if you have the time) get back into it once the breakout is confirmed. That would for example be breaking the daily SMA200 conclusively, and almost certainly breaking the previous 680 top. In that case, there'd be almost certainly enough upwards momentum to warrant a leveraged long position, even if you're comparably risk averse. I am however assuming you're not leveraged beyond factor 2 or 3, right? Don't know what btc.sx offers... Thanks Oda. 'edit=I'm trading 10 to one on experimental size bets.' Quick question, do you normally have to pay any interest or fee to hold on to a bet that is in a positive position?
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1227
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 30, 2014, 07:53:13 AM
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It's nice that my alarms actually worked for once, now how to figure when to close open positions...
Should one just close now and take the profits?
Or do you just let it run and continue to let the fees eat away at profits?
Sorry for noob questions.
dear noob. If you're a noob, maybe you shouldn't use leverage. Also: if you take profit in USD you're doing that bitcoin-thing wrong. Please consider the option of closing your leveraged long position and just buying some bitcoin outright. No continiual fees attached. Thanks molecular, sorry I wasn't more clear, I've just started playing with leverage on btc.sx -it's a pure bitcoin play. I'm all out of fiat, and my mining income just isn't cutting it for me anymore, so I figured leverage looked fun. Thanks for the advice anyways tho
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1229
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 30, 2014, 12:06:23 AM
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The 500 BTC wall has been there for like a day. Unless it was pulled in between the hours I checked, it never left. It's real and has been getting chewed on a bit. But it hasn't been pulled..... we'll see if anyone is willing to buy it.
Market trying to touch 600 mark again, there is 457 coins wall, I think this time it will break. I'm not watching it real closely, but it seems to me that it's been more than just chewed, it's been gobbled up a few times and it just keeps getting replenished. It's a little scary to think that someone has an almost never ending supply and appetite to sell at that level... I actually expected the wall was there to keep the price in check before the auction, but I'm not sure I understand the motivation behind the wall now that the auction is over.
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1231
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 28, 2014, 03:05:05 AM
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Amazed that the prices have been so solid with the auction stuff...as always though HODL
we wont go past 600 until the winning bid is revealed To late, already went to 604. It only touched $600 for a few minutes on BitStamp, though, and then went back down. Point? point is that sideways motion is the least likely outcome from this. this is the time to place your bets. I should have made a bet to fade mat just out of principle, or is it superstition? anyways, here is my first foray into leveraged betting. *following mat's lead* good luck and never fool yourself, it's all just bets.
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1233
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 28, 2014, 01:13:04 AM
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Bitfinex never got an ID for my registration. Although I am not fully verified and I take my profits in bitcoin and they go straight to paper wallets monthly. Im sure to set up bank accounts and such requires ID but not for bitcoin/litecoin in and out only.
thank you, that is pretty cool, but I thought I heard recent reports of extra verification required to withdraw bitcoin, even from people who were already registered... I'm definitely going to check it out tho, thanks again.
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1234
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 28, 2014, 12:49:53 AM
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btc.sx <- is this ligit? I read the FAQ, but I'm already drunk and I don't quite understand, but it seems legit. plus it seems to be Bitcoin only, I haven't yet seen a deposit or even a balance for fiat. in fact, it doesn't look to have any ties on the customer end to fiat at all. just plain old bitcoin betting I'm seriously curious, has anyone tried this out yet? Yes I've tried it and it's shit. I mean technically is legit and all, it's not a scam per se, but the spread is astronomical and it is 1:10 leverage only. Meaning that if the price goes 10% against you (actually less, because of the spread) you get margin called. Bitfinex is a lot better. Thanks for the input, much appreciated. they have 1:5 and 1:2 now as well, but yeah, if the price goes against you, then you lost your bet, it sucks. if the price goes in your favour, you win your bet and life is good again. or at least that's how it seems to me, I kinda understand how margin works but I've never done it, so I think I should.
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1235
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 28, 2014, 12:37:27 AM
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btc.sx <- is this ligit? I read the FAQ, but I'm already drunk and I don't quite understand, but it seems legit. plus it seems to be Bitcoin only, I haven't yet seen a deposit or even a balance for fiat. in fact, it doesn't look to have any ties on the customer end to fiat at all. just plain old bitcoin betting I'm seriously curious, has anyone tried this out yet? Why not just use bitfinex? There are futures contracts at icbit.se, and plus500 and avatrade can offer you usd based exposure. does bitfinex require more than an email address for registration?
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1236
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 28, 2014, 12:28:31 AM
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WTF MAT?? Why aren't we going doooooowwwwwwwnnnnnnnn??
Don't worry, I just made another one of my impulsive no logic rush of blood to the head trades and went long at $600. So things should start turning to the downside pretty soon I would imagine. The last carefully considered long position I took was at $560..........but sitting staring at the 15 minute chart with my nose 1 inch away from the screen, I noticed some whale made a big fucking 500 BTC dump, so I cashed out my position at $560...2 days later, $600, some $15 above my $585 target.... See....there we go...down to $593.88 within ten minutes of me taking my long position. You can always rely on the market to go the exact opposite way of these impulse trades that I tend to make and seem incapable of exercising any control over. obviously below 600 would have been better, but it's still a good bet I think. just try not to sell too early, it's gonna be a rough ride. Also, I figure you'd be a good one to ask since you trade leverage. what do you think of https://btc.sx how do I enter a long position if I can't bet fiat?
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1237
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: June 28, 2014, 12:20:21 AM
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btc.sx <- is this ligit? I read the FAQ, but I'm already drunk and I don't quite understand, but it seems legit. plus it seems to be Bitcoin only, I haven't yet seen a deposit or even a balance for fiat. in fact, it doesn't look to have any ties on the customer end to fiat at all. just plain old bitcoin betting I'm seriously curious, has anyone tried this out yet?
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1239
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Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com
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on: June 27, 2014, 05:05:00 AM
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Yeah, pretty much every other ASIC manufacturer makes KNC look like amateurs. They may have been first with 28nm and 20nm but everything else about their miner design is of embarrassingly poor quality.
pretty much, but for anyone that has noise as a limiting factor, can you recommend any better miner?
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