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

[inca]

My assumption is bitcoin has at least one more bubble in it even if it fails as an alternative private currency.

Not exactly a ringing endorsement from one of the biggest bulls around these parts... Just one more spike to unload your bags?

I think bitcoin or a descendant will disrupt the world. Its pretty clear it is the best form of money ever invented and a block chain based crypto currency should cleave apart money and state.

I won't touch most of my coins until 2020. If it dies I go down with the ship!

But I will sell a small % on the next spike, sure. That's how the coins distribute, right? At least that's the plan. It was the plan last time, too

[ChartBuddy]

Coin
Explanation

[Chainsaw]

Any chance for a poll update:
What day will GBTC trade openly on the NYSE?
-Monday
-Tuesday
-Wednesday
-Thursday
-Friday
-Next week or later.

I know I'll have my trading window up at market open tomorrow.

[BitcoinIsLiberty]

Any chance for a poll update:
What day will GBTC trade openly on the NYSE?
-Monday
-Tuesday
-Wednesday
-Thursday
-Friday
-Next week or later.

I know I'll have my trading window up at market open tomorrow.

Not NYSE but OTC Markets. Monday is my guess.

[Shatoshi]

Here are questions from a newbie trader:  What's the longest you have sat on an ask or bid order waiting for it to be filled?  How long might you typically sit on losing longs or shorts before you close?  I'm still learning patience and while I can ride out quite a bit more of this rise with my open short, with the hope that on another decline I can either close at a small loss or mostly break even (any profit will be small at this point), a lot of articles suggest using much more strict stop losses than I had in place (and that I ultimately shyed away from using).  And now I'm curious about the benefit of just closing now.  Interest is negligible

I realize I am asking this in a den of hodlers.

[ChartBuddy]

Coin
Explanation

[bassclef]

Here are questions from a newbie trader:  What's the longest you have sat on an ask or bid order waiting for it to be filled?  How long might you typically sit on losing longs or shorts before you close?  I'm still learning patience and while I can ride out quite a bit more of this rise with my open short, with the hope that on another decline I can either close at a small loss or mostly break even (any profit will be small at this point), a lot of articles suggest using much more strict stop losses than I had in place (and that I ultimately shyed away from using).  And now I'm curious about the benefit of just closing now.  Interest is negligible

I realize I am asking this in a den of hodlers.

I often sit on positions for weeks, but my trades happen on the daily chart so it involves waiting out a lot of the noise found on lower timeframes. Sometimes you have the luxury of waiting until the market comes back to you, but only if you're reasonably sure that it will, otherwise it's just wishing and hoping (not a good strategy). Sometimes it doesn't and it's more profitable to cut losses and reverse positions. Of course the danger here is that you can get whipsawed to death if you don't catch the trend early enough. It ultimately depends on your trading style. There are no hard and fast rules, but if you're sitting on a losing short position and the market is bullish and telling you there is not a lot of downward pressure, you should think about taking the loss. (Opposite situation would be in a losing long position where there is lots of supply coming in and the market is trending strongly down). There is no shame in this, it's simply the logical thing to do. If you cut your losers short relatively quickly and let the winners ride, you'll be much better off.

Always trade logically, never trade emotionally.

[derpinheimer]

Bears be like:

[empowering]

220$ at wednesday.

Just 220? What? You just totally killed my DOOOOOOOM boner bro.

That would only be mildly very mildly shnappy

I would appreciate something to actually celebrate ffs, what is wrong with you guys?

Sort it the fuck out will ya,  and actually slam this shit properly,  make my year, please!

I am getting testy here.

[coinableS]

Any chance for a poll update:
What day will GBTC trade openly on the NYSE?
-Monday
-Tuesday
-Wednesday
-Thursday
-Friday
-Next week or later.

I know I'll have my trading window up at market open tomorrow.

Not NYSE but OTC Markets. Monday is my guess.

I wouldn't be surprised if it drags out much longer. I think more people are looking for the Winklevoss type ETF instead of an investment trust.
UITs are mainly buy and hold investments. They have maturity dates similar to CDs and there is little trading with most UITs. If you're looking for something for the big boys to actually trade on an exchange you're looking at an ETF.

[ChartBuddy]

Coin
Explanation

[Cconvert2G36]

Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.

I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.

There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.

[BitcoinIsLiberty]

Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.

I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.

There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.

And the longer it takes the better bitcoin looks for moving assets with something like colored coins. The old system seems sooo slow.

[Chainsaw]

Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.

I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.

There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.

My understanding was, shareholders will first be able to sell sometime this week.

http://www.cnbc.com/id/102549768

[tarmi]

Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.

I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.

There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.

 

gains? dude, did you see the charts and where the price was 12 months ago?

those who bought those shares 12 months ago are bag holding hard.

the volume will be pitiful. penny stock trading at its best.

[kaykawa]

[Cconvert2G36]

Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.

I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.

There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.

 

gains? dude, did you see the charts and where the price was 12 months ago?

those who bought those shares 12 months ago are bag holding hard.

the volume will be pitiful. penny stock trading at its best.

Of course you're right about the majority of BIT hodlers, not all, but statistically most. Thing is, as you know... it doesn't matter what the price was yesterday. A 30% gain tomorrow is a 30% gain tomorrow. Especially when you could buy back the same asset within the hour.

Edit: Not the same asset, the real deal.

[tarmi]

Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.

I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.

There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.

 

gains? dude, did you see the charts and where the price was 12 months ago?

those who bought those shares 12 months ago are bag holding hard.

the volume will be pitiful. penny stock trading at its best.

Of course you're right about the majority of BIT hodlers, not all, but statistically most. Thing is, as you know... it doesn't matter what the price was yesterday. A 30% gain tomorrow is a 30% gain tomorrow. Especially when you could buy back the same asset within the hour.

yeap, it doesnt matter if they paid 600 $ per coin. they could buy or sell shares to each other and maybe recoup their losses while following swings on the already established bitcoin exchanges.

 

[ChartBuddy]

Coin
Explanation

[BlackSpidy]

I start feeling that I care less and less about the daily changes in bitcoin price... I feel as though it won't matter in two years, because my coins (well, my 1/6th of a coin) will be worth at least twice what I bought them at ($280-ish). Now, I'm watching the market with not a care in the world. I feel a bit liberated. Time will tell if I'm wrong.