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

[N12]

..these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room.

This quote should be immortalized, instant classic.

Immortalized!

Hmm so bitfinex has a unique way of performing margin calls. First they add it on the ask side, if nobody buys after a certain time it gets dumped.

Yes, it's very interesting that they're essentially speculating on their own with user funds instead of liquidating @market.

Really? Did they state they do this? How would one be able to tell by watching the charts -- couldn't someone just be placing asks, then removing to market sell when they aren't bought?

I recall that they did within this thread (the principle, but not the specifics of the algo, obviously), read it very carefully: https://www.reddit.com/r/BitcoinMarkets/comments/2dohjg/im_josh_rossi_from_bitfinex_here_to_talk_about/

[1714575903]

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[1714575903]

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[1714575903]

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[keithers]

blokchina.info seems to be working with the confirmations again...

[ChartBuddy]

Explanation

[esse83]

..these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room.

This quote should be immortalized, instant classic.

Immortalized!

Hmm so bitfinex has a unique way of performing margin calls. First they add it on the ask side, if nobody buys after a certain time it gets dumped.

Yes, it's very interesting that they're essentially speculating on their own with user funds instead of liquidating @market.

Really? Did they state they do this? How would one be able to tell by watching the charts -- couldn't someone just be placing asks, then removing to market sell when they aren't bought?

I recall that they did within this thread (the principle, but not the specifics of the algo, obviously), read it very carefully: https://www.reddit.com/r/BitcoinMarkets/comments/2dohjg/im_josh_rossi_from_bitfinex_here_to_talk_about/

To be clear, we do not trade on behalf of any user, nor do we take any position. Our trading platform simply introduces speed bumps for any order which seems to be an aberration from normal trading behavior.

 

[Kupsi]

blokchina.info seems to be working with the confirmations again...

But their charts are not fixed...  

[N12]

..these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room.

This quote should be immortalized, instant classic.

Immortalized!

Hmm so bitfinex has a unique way of performing margin calls. First they add it on the ask side, if nobody buys after a certain time it gets dumped.

Yes, it's very interesting that they're essentially speculating on their own with user funds instead of liquidating @market.

Really? Did they state they do this? How would one be able to tell by watching the charts -- couldn't someone just be placing asks, then removing to market sell when they aren't bought?

I recall that they did within this thread (the principle, but not the specifics of the algo, obviously), read it very carefully: https://www.reddit.com/r/BitcoinMarkets/comments/2dohjg/im_josh_rossi_from_bitfinex_here_to_talk_about/

To be clear, we do not trade on behalf of any user, nor do we take any position. Our trading platform simply introduces speed bumps for any order which seems to be an aberration from normal trading behavior.

 

https://www.reddit.com/r/BitcoinMarkets/comments/2dohjg/im_josh_rossi_from_bitfinex_here_to_talk_about/cjri08w

This is pretty much admitting to speculating with some user funds (or let's say, unwinding their position) in a way that they prefer, no? That's what I meant, anyway.

Someone spotted the algo's pattern in action back then during the liquidation, but of course they will try and make it less obvious.

[esse83]

..these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room.

This quote should be immortalized, instant classic.

Immortalized!

Hmm so bitfinex has a unique way of performing margin calls. First they add it on the ask side, if nobody buys after a certain time it gets dumped.

Yes, it's very interesting that they're essentially speculating on their own with user funds instead of liquidating @market.

Really? Did they state they do this? How would one be able to tell by watching the charts -- couldn't someone just be placing asks, then removing to market sell when they aren't bought?

I recall that they did within this thread (the principle, but not the specifics of the algo, obviously), read it very carefully: https://www.reddit.com/r/BitcoinMarkets/comments/2dohjg/im_josh_rossi_from_bitfinex_here_to_talk_about/

To be clear, we do not trade on behalf of any user, nor do we take any position. Our trading platform simply introduces speed bumps for any order which seems to be an aberration from normal trading behavior.

 

https://www.reddit.com/r/BitcoinMarkets/comments/2dohjg/im_josh_rossi_from_bitfinex_here_to_talk_about/cjri08w

This is pretty much admitting to speculating with some user funds (or let's say, unwinding their position) in a way that they prefer, no? That's what I meant, anyway.

Someone spotted the algo's pattern in action back then during the liquidation, but of course they will try and make it less obvious.

Indeed, or if we are being conservative they are at least saying that they decide how the impact will be on the market. The only way they can do this is by taking a position, bid or ask. So in essence that is market manipulation. Claiming that they are not trading on behalf of users is just nonsense. Margin call is either dump or not. If its not then its taking a position (using user funds for speculative reasons).

With the notion of speed bump they admit to intervening. Also because they adjusted it from market dump (the default way of doing it), the only other option is that they actually take positions.

(The only other way is to dump some then wait for bid side til fill in again, but that is also manipulative. They are actively deciding what the price will be)

[cmacwiz]

[adamstgBit]

lol whale dumps!!!

so rude.

...

[Kupsi]

blokchina.info seems to be working with the confirmations again...

But their charts are not fixed...  

Fixed now   

[ChartBuddy]

Explanation

[Richard Branson]

Lots of moron lost good money (fiat) 
They will panic soon and sell like allways. Buy (too) high and sell low. Works every time.
This correction (started 2013) is not over yet.

Could take 3-6 months more. Tards with too high buy in prices can either sit it out or sell partly with a risk of short rebounce (and panic rebuying).

[adamstgBit]

Lots of moron lost good money (fiat) 
They will panic soon and sell like allways. Buy (too) high and sell low. Works every time.
This correction (started 2013) is not over yet.

Could take 3-6 months more. Tards with too high buy in prices can either sit it out or sell partly with a risk of short rebounce (and panic rebuying).

everyone thinks everyone else is retarded

this is reflected in price action

[btcney]

Lots of moron lost good money (fiat) 
They will panic soon and sell like allways. Buy (too) high and sell low. Works every time.
This correction (started 2013) is not over yet.

Could take 3-6 months more. Tards with too high buy in prices can either sit it out or sell partly with a risk of short rebounce (and panic rebuying).

are u really Richard Branson

[coins101]

$395 is the new $1,200 

[Wilhelm]

Lots of moron lost good money (fiat)  
They will panic soon and sell like allways. Buy (too) high and sell low. Works every time.
This correction (started 2013) is not over yet.

Could take 3-6 months more. Tards with too high buy in prices can either sit it out or sell partly with a risk of short rebounce (and panic rebuying).

are u really Richard Branson

If you we're filthy rich would you be on a bitcoin speculation forum posting crap or would you be banging chicks half your age in space?

[samsonn25]

HAH  that makes sense.  Agreed

[MinermanNC]

Lots of moron lost good money (fiat)  
They will panic soon and sell like allways. Buy (too) high and sell low. Works every time.
This correction (started 2013) is not over yet.

Could take 3-6 months more. Tards with too high buy in prices can either sit it out or sell partly with a risk of short rebounce (and panic rebuying).

are u really Richard Branson

If you we're filthy rich would you be on a bitcoin speculation forum posting crap or would you be banging chicks half your age in space?

Will the real Richard Branson please stand up lol

[edwardspitz]

Hmm so bitfinex has a unique way of performing margin calls. First they add it on the ask side, if nobody buys after a certain time it gets dumped.

Yes, it's very interesting that they're essentially speculating on their own with user funds instead of liquidating @market.

I've also noticed that before a margin call sometimes an opposing order with the exact amount come out, by magic.
This happened to me, when there is not enough liquidity available near the margin call price (perhaps).

Lets not forget that the owner of bitfinex (Raphael Nicolle) was a huge supporter of pirateat40 and not long after offered a similar service.

Also questionable is the founder, Raphael Nicolle, himself. Fortunately, this is not another attempt at an anonymously run financial service; Nicolle has provided a LinkedIn profile which confirms his involvement in BitFinex, and has plans to register the company when they settle on the best jurisdiction to locate their service. However, he was also involved in the Bitcoin investment scheme craze that had reached its peak in the Bitcoin community this summer, strongly supporting the (then only suspected) Bitcoin Ponzi scheme operator Pirateat40 in August, stating “now that Pirateat40 closed down his operatations thanks to all the fud that was going on and growing on the forum, I expect everyone that spreads this fud, accused and insulted Pirate and the people that supported him to apologize.” He even tried to open a 2%-per-week investment scheme of his own in September.

http://bitcoinmagazine.com/2830/bitfinex-bitcoinica-rises-from-the-grave/

Just to add to the margin call theory, after they dump they seem to instigate a mini pump to trick traders into buying the asks (which makes sense). It's fascinating to watch..

I'm 99% sure that Bitfinex play the market themselves. The 1000 BTC dump that happened about two hours ago was most likely a stop loss that got triggered. Guess who have all the info. about those...

I have observed quite few examples of odd behavior on BFX. On example is how overlapping orders are prioritized. Normally you would think that whoever places their limit order first gets served first, but not at Bitfinex. This examples could be explained by the hidden orders... I just find that unlikely especially in one instance where I observed it. I have also seen other examples of trading that simply does not make sense unless you have special insider knowledge. Overall I get a sense that the majority of the bids and asks are placed by bots that are by is run by BFX (they seem to be able to distinguish between bids/asks placed by themselves and everybody else).

[Raystonn]

So anyway, we're just a few days away from an event that should begin to provide buying pressure to Bitcoin.  Still a chance we could go a great deal lower until this happens.  After that, I expect the ramp up that began on 10/2/2013.  I'll let you know when the day hits.

OK, I am letting you know.  The event has occurred.  No, it wasn't the Scotland vote.  I expect us to begin slowly ramping up now.