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1563
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 25, 2019, 12:16:23 AM
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Hey r0ach, stop talking to yourself and just try to offer some good trading advice.
I mean, even if you don't do crypto anymore (which is not that clear considering your recent admission of hodling at least some until $19000) you are always speculating about it so.... What would you consider good entry and exit points? (either short or long). Because, you do know something about trading, don't you?
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1564
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 24, 2019, 11:56:48 PM
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In other news, what is WO take on giving btc to your own children? Worth it or idiotic since they don't know how to hold it safely?
I've been giving each of my progeny -- chillens and grandchillens -- one BTC (and one BCH ((and one BSV)) ) each year since years. I look at the addresses each year to see how they're doing with them. All hodled tightly except for minimal percentages of daughter and one son, in whom I have instructed on the incremental laddered standing order plan. Your practice alone is going to cause a BTC supply shortage. Just think about the many poor folks around the world who are not even going to be able to own .1 BTC and many of your progeny will have several BTC each.  By the way, the bcash variants are not likely to have and impact on the world in any kind of meaningful way, and if they hold them more than a few years, they are likely to increasingly decrease in value - perhaps even faster than the dollar, so likely they should spend those bcash variants first. or better yet, convert them into BTC. #gresham's law  Building a family dynasty? I like it, until the grand kids trades it all for Facebook coin. I had already expressed a couple of years ago that I don't think it is a good idea (especially giving a whole coin each year... that is ridiculous)... but whatever.. it is a child rearing choice that is totally within his discretion. I think it's more than great if he has the funds to do so and the patience to not be upset if they do something silly with it. (As he does occasionally check their addresses it seems) The second part would probably be the hardest. In my thinking it's not about generosity exactly, but instead trying to figure out ways that kids are going to develop their own self initiatives. Let's say jbreher got into bitcoin around the same time that he began his forum account in 2011, and therefore started giving 1BTC per christmas per kid/grandkid then living. The value of that gift changed stupendously, and the kid/grandkids who are at least 8 years old received 8BTC each, so far. Perhaps, I don't know enough about the situation, but it seems both sloppy and reckless, from my perspective - and jbreher's earlier explanation did not make too much sense to me, just like the quasi-unrelated concept of his ongoing support of bcash (including faketoshi) don't make much sense to me. And, all of those are within his discretion... and the only way that we (am I using the royal we, here?) know about all of those ideations and practices of his and can talk about them, is because, at various times, he told us about them. Jbreher is right in what he is doing (in regards to his family gifts). You are wrong. We already discussed this in the past Of course most of the part of it is not just giving (that's the easy part in this case) but also educating about it. I am assuming jbreher also has that part well covered. |
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1565
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 24, 2019, 11:43:25 PM
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Would you be so kind as to enlighten me on slippage? In what way would it screw with trading?
I would assume the implication was that: if real volume be truly that large, then slippage should be much less than that experienced. I understand the correlation between volume and slippage, but I'm not sure how exactly those contracts work as I've never used or read into them. The particular trade that I found galling had me enter a stop loss at $xx93 (which was below a major support point). The price fell through the support and the sell order executed at $xx20, which is $73 in slippage. The most slippage I have previously experienced on breaking major support was $13 on Bitstamp at a much higher price (therefor far lower slippage in percentage terms). This leads me to believe that either: (a) Bitmex has exceptionally poor liquidity or (b) their proprietary trading desk is front running trades or (c) they are deliberately discriminating against fish in the order book. The net result is the same. While there are some complexities around whether one uses the last, mark or index price as trigger, it really all comes out in the same place. None of this should be impacted by the particular rules of the instrument, and this was not a liquidation (I have never been liquidated and don’t intend to start). I have had a number of other trades on Bitmex where my slippage has been about 10x what I would expect. Given that Bitmex supposedly has 10x the volume of Bitstamp and 10x liquidity, something is rotten in the State of Seychelles. I would go so far as to say either they are front running their own customers or their organic volume is about 1% of what they claim. Makes sense. OR... maybe traders at Bitmex are *WAY* more prone to using leverage and stop loses which causes *HUGE* slippage due to "cascading" than Bitstamp traders. Think about it... it also makes some sense. Something like this is what I was thinking too. It may NOT cause as BIG of an effect to completely discount Hairy's criticism, but there could be some magnifying effect that happens with the use of leverage and margin trading that disproportionately causes the prices swings to be much greater.. and perhaps that would be because some BIGGER players (and it does not even have to be Bitmex, though logically they would seem to be the most likely suspect, because if some other BIGG players were doing it, then Bitmex would be able to verify what happened and develop ways to put a stop to it or at least ameliorate some of the effects) .... so yeah, the more that I write, through this thought process, the more I am coming over to Hairy's suspicions about the real cause, which is ultimately, way less liquidity than they claim to have... I suppose that it would make a difference if it rises to 90% less liquidity or merely 50% less or some more innocent misrepresentation. Thr thing is we don't have enough information to reach a clear conclusion. Without it, there are several alternative plausible explanations. Who knows..... |
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1566
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 24, 2019, 10:53:25 PM
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I find the articles regarding capital leaving the UK over Brexit quite entertaining.
After all, the UK would be able to make up its own policies to specifically draw that and even further capital in once the EU can no longer meddle.
Not pretending that I know shit about Brexit or its implications. But the arguments I've seen so far for it being bad were pretty weak (mostly focusing on short-term implications while completely ignoring the long-term).
I don't know much either... but I have the feeling that nowadays isolated countries do much worse than unions. Just a feeling. |
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1567
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 24, 2019, 07:56:53 PM
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Would you be so kind as to enlighten me on slippage? In what way would it screw with trading?
I would assume the implication was that: if real volume be truly that large, then slippage should be much less than that experienced. I understand the correlation between volume and slippage, but I'm not sure how exactly those contracts work as I've never used or read into them. The particular trade that I found galling had me enter a stop loss at $xx93 (which was below a major support point). The price fell through the support and the sell order executed at $xx20, which is $73 in slippage. The most slippage I have previously experienced on breaking major support was $13 on Bitstamp at a much higher price (therefor far lower slippage in percentage terms). This leads me to believe that either: (a) Bitmex has exceptionally poor liquidity or (b) their proprietary trading desk is front running trades or (c) they are deliberately discriminating against fish in the order book. The net result is the same. While there are some complexities around whether one uses the last, mark or index price as trigger, it really all comes out in the same place. None of this should be impacted by the particular rules of the instrument, and this was not a liquidation (I have never been liquidated and don’t intend to start). I have had a number of other trades on Bitmex where my slippage has been about 10x what I would expect. Given that Bitmex supposedly has 10x the volume of Bitstamp and 10x liquidity, something is rotten in the State of Seychelles. I would go so far as to say either they are front running their own customers or their organic volume is about 1% of what they claim. Makes sense. OR... maybe traders at Bitmex are *WAY* more prone to using leverage and stop loses which causes *HUGE* slippage due to "cascading" than Bitstamp traders. Think about it... it also makes some sense. |
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1568
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 24, 2019, 06:43:12 PM
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Well, I don't know who else would pay that much for an empty wallet... Seems like a bit of a dumb plan, though. Archived in case the post is deleted. If you had lots of dodgy bitcoins. A wallet that mined 300 bitcoins in the old days could be a viable "source" when explaining them at cash out right? proving the legitimacy of my coins... I understand the reasoning, but we shouldn't have to, otherwise btc usefulness would be diminished. If you ever plan to cash out some hundreds of thousands dollars or even just a few tens of thousands you better be able to prove the legal origin of it (if/when required to do so). Bonus if you can prove and track the entire history of it. It's basically the same with EVERY asset. Ie: Suppose your father has some expensive Van Gogh. He, instead of donating you some (huge) money decides to just give it to you so that you can sell it for a huge amount of banking fiat in a Sotheby's auction and set you for life. But neither of you two declare the donation not pay the taxes (obviously). -> REKT! Well, the same happens with Bitcoin. You need to prove how you obtained them, and when. You need to prove you didn't sold them previously and not pay due taxes. You need to pay your taxes. And it is the same with cash.... it is just that in small quantities you can just USE it for daily expenses, etc... But you can't go use it to buy a home, a car, or anything "expensive" without having to prove the full trace of it. For small quantities there's not much need to care though. |
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1569
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 23, 2019, 09:18:12 PM
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http://bitcoin.stamen.com/In February 2014 MtGox, one of the oldest Bitcoin exchanges, filed for bankruptcy protection. On March 9th a group posted a data leak, which included the trading history of all MtGox users from April 2011 to November 2013. The graphs below explore the trade behaviors of the 500 highest volume MtGox users from the leaked data set. These are the Bitcoin barons, wealthy speculators, dueling algorithms, greater fools, and many more who took bitcoin to the moon. Golly had never seen this. I may be worried when they release the trade behaviour of the 500 less significant traders there. Or maybe not... I did pretty good in my trading those days..... except for the part of leaving a very significant chunk of my modest stash to trade there. Oh well. Whateva. |
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1570
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 23, 2019, 09:09:08 PM
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@BoB, what about this pattern and climbing btw??
As your friend, I advise you to take a hit out of the little brown bottle in my shaving kit. You won't need much, just a tiny taste. Then put a ring on that finger of hers. Why would someone need to risk a perfectly happy and healthy relationship with something like marriage?  Are you married to Rick btw? I don't seem to recall if you said it. P.S.: That being said she is clearly great marriage material. No doubt at all. |
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1572
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 21, 2019, 06:13:19 AM
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It is really good to see the price of bitcoin over $4000,and this time the price looks more promising because it didn't happen all at sudden,it just happen after so much time hanging at this place,so there will be no more $3xxx on the prices.
You are probably wrong. It is way more probable we will see $3xxx again than $5xxx before. Wishful thinking won't make us rich. HODL. Hopefully we will not stay much longer at that level again even if the price fell to that range. Keep holding. Agreed. |
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 21, 2019, 06:12:12 AM
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It is really good to see the price of bitcoin over $4000,and this time the price looks more promising because it didn't happen all at sudden,it just happen after so much time hanging at this place,so there will be no more $3xxx on the prices.
You are probably wrong. It is way more probable we will see $3xxx again than $5xxx before. Wishful thinking won't make us rich. HODL. Especially when "we" are still poor. Someone told me that, recently.  Yeah, we certainly are. |
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1574
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 21, 2019, 06:10:00 AM
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It is really good to see the price of bitcoin over $4000,and this time the price looks more promising because it didn't happen all at sudden,it just happen after so much time hanging at this place,so there will be no more $3xxx on the prices.
You are probably wrong. It is way more probable we will see $3xxx again than $5xxx before. Wishful thinking won't make us rich. HODL. Especially when "we" are still poor. Someone told me that, recently. So sad man, I think that The rich make money, and the poor get the sweat of the head and then return the money to the rich. The system will run in the same way. Someone slaves the money and someone else takes control over the money. How? The person who works for the money enslaves the money, and the money for which the money works, master over the money. It is easy to be a slave of money, but the Lord of the money is not so easy. The choice is ours, what we do Slavery or mastery? I money do master, lord of the flies easy on slaves, then sweat Bitcoin go! |
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1575
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 21, 2019, 05:45:31 AM
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It is really good to see the price of bitcoin over $4000,and this time the price looks more promising because it didn't happen all at sudden,it just happen after so much time hanging at this place,so there will be no more $3xxx on the prices.
You are probably wrong. It is way more probable we will see $3xxx again than $5xxx before. Wishful thinking won't make us rich. HODL. |
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1576
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 21, 2019, 02:49:04 AM
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IIRC I chose 200-499 which is *WAY* more than I do have. But the question was to be a fuckyoucoiner, and that's what I would consider, not that I would ever become one (or need to to, in order to be happy and reasonably wealthy).
And I am taking into account some price rise in the future. Otherwise the amount would be higher... but not much more.
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1578
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 21, 2019, 01:53:24 AM
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Awesome bitcoiners donate 8btc(47.5k euros) to help children in Africa. Its taken awhile but the campaign is now complete and all is well. Still 3btc left over and could someone take over because running a charity is time consuming and a pain in the rear... 600watt is a freakin legend...basically.Indeed. I have lost the count of all the helping initiatives he has carried out. A freakin legend yeah, but above all a (extremely) good human in all senses from what I have read. Kudos and hats off to him. Wish all that karma to go back. |
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1580
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: March 20, 2019, 03:50:22 AM
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With Bitcoin you just "store" it virtually and forget about it. Hodling cost=ZERO.
Just saying.
Just make sure you don't lose it. If you're "storing" it anywhere, it can get "stolen" ... depending on where and how you store it. Yeah, but that can be considered just "safety" precautions which all other assets also have. Real costs/maintenance: NONE. |
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