Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[seljo]

Anyone would like to comment on this?

[Miz4r]

Last time we were around 600s, there were 15 million in loans. This time, it is 25 million. The longs are ballooning up without reason, and I sense another Bitcoinica.

Can't it be that Bitfinex is simply getting bigger and more popular? Like Bitstamp's orderbook was getting bigger pretty fast in the wake of Gox stumbling and failing? I remember that in the past Bitfinex was always out of USD to borrow, which prevented the loans to reach new ATHs then. Maybe they're growing out of that phase now as people are getting fed up of Stamp and don't trust BTC-e.

Of course they are getting bigger and more popular, but at whose expense? As far as I see, Finex is likely supplanting Bitstamp more than BTC-e, and Bitstamp has never offered leverage. That's why I think this divergence is a potential ticking time bomb, it's converting a larger part of the market into flash crash prone margin traders with no real depth to back it up, same as happened with Bitcoinica as it grew.

Ah now I see what you mean. Because of leverage they need enough bid depth to be able to cover for margin calls. If there isn't enough bid depth to cover for that however this could turn out into a disaster in the case of a serious crash. Well maybe they will still use Stamp as backup if that happens, but even then I see how this could be dangerous. Anyway I'm staying far away from leveraged trading myself, it's just not worth the risk.

[kryptopojken]

Anyone would like to comment on this?

Yes, that cup and handle formations almost never work with btc

[seljo]

Anyone would like to comment on this?

Yes, that cup and handle formations almost never work with btc

Glad we cleared that.

[N12]

This is hilarious. https://blockchain.info/pools?timespan=24hrs

[Tzupy]

This is hilarious. https://blockchain.info/pools?timespan=24hrs

No, this is worrisome. They should have taken action by now to drop below 48% to reassure the markets.
If they keep growing some miners might decide to sell a large % of their hoarded stash, just to hedge against future large drops.

[phosphorush]

pretty irresponsible to allow that to happen -_-

[kryptopojken]

Anyone would like to comment on this?

Yes, that cup and handle formations almost never work with btc

Glad we cleared that.

show me 1 credible cup handle formation and I'll show you 20 that have looked okay but have failed

[ChartBuddy]

Explanation

[Dragonkiller]

This is hilarious. https://blockchain.info/pools?timespan=24hrs

No, this is worrisome. They should have taken action by now to drop below 48% to reassure the markets.
If they keep growing some miners might decide to sell a large % of their hoarded stash, just to hedge against future large drops.

they've likely had >51% for some time now, probably just decided to come clean

[Miz4r]

Does anyone know why http://bitcoincharts.com/markets/ doesn't include Huobi? All the big exchanges are there except for Huobi for some reason..

[seljo]

This is hilarious. https://blockchain.info/pools?timespan=24hrs

No, this is worrisome. They should have taken action by now to drop below 48% to reassure the markets.
If they keep growing some miners might decide to sell a large % of their hoarded stash, just to hedge against future large drops.

they've likely had >51% for some time now, probably just decided to come clean

OMG wtf we do now??? Ok read this... https://bitcointalk.org/index.php?topic=12120.0

[hdbuck]

This is hilarious. https://blockchain.info/pools?timespan=24hrs

No, this is worrisome. They should have taken action by now to drop below 48% to reassure the markets.
If they keep growing some miners might decide to sell a large % of their hoarded stash, just to hedge against future large drops.

they've likely had >51% for some time now, probably just decided to come clean

lmao. im still using ghash.io  
gogo 52%!

[MICRO]

This is hilarious. https://blockchain.info/pools?timespan=24hrs

No, this is worrisome. They should have taken action by now to drop below 48% to reassure the markets.
If they keep growing some miners might decide to sell a large % of their hoarded stash, just to hedge against future large drops.

they've likely had >51% for some time now, probably just decided to come clean

Why price is going up now ?
I dont think they will do 51% attack but its not good not good at all.

[Mervyn_Pumpkinhead]

This is hilarious. https://blockchain.info/pools?timespan=24hrs

[ChrisML]

In the meantime:


CHOO CHOO.

[seljo]

What can I do when other pools just don't work, Deepbit is the best and that's why the situation is like this,



Aaaaah good old days.

[alani123]

What can I do when other pools just don't work, Deepbit is the best and that's why the situation is like this,



Aaaaah good old days.

That's what ineffective competition leads too. Some people are just bashing ghash for being too good.

[freebit13]

We went through the ghash.io 51% issue a couple of months back... if anything this just proves how clueless most of the miners really are.

[dnaleor]

People should switch to eligius. It's a pool with no company behind. Even if eligius would take 51%,I would not worry...