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

[Fatman3001]

https://np.reddit.com/r/Bitcoin/comments/32o2lj/eobot_has_paused_cloud_mining/

Ouch!

yup my cloudhashing miner will be shutdown as well.

Dear Cloudhashing customer:

Due to the changed financial viability of our cloud mining service, we have decided to increase the management fees associated with the service to USD $0.15 (15 cents) per gigahash per month. This amount ($15.00 per month) will be deducted directly from your mining earnings. If your mining earnings are not sufficient to cover the management fees, you will be invoiced for the remainder amount.

i owe them 30$  

its a sad day for cloud mining

When the dust settles there is no room for cloud mining. For cloud mining to makes sense you're dependent on ever increasing prices. And if you think prices will shoot up like that you should probably just buy coins.

This argument always bothers me though I can see why people may think this way.

If prices are on the rise and you invest 50 BTC in cloud mining and 6 months from now it is 60 BTC, aren't you better off than buying 50 BTC? Now granted you run the risk of your 50 BTC becoming 20 BTC.

If prices are declining - why buy coins or cloud hashing?

I'm not assuming that you pay with BTC.

When the dust settles there is no room for cloud mining. For cloud mining to makes sense you're dependent on ever increasing prices. And if you think prices will shoot up like that you should probably just buy coins.

Wrong. Both mining and cloud mining are the most effective when prices are stable. This way you can profit even if there's completely no price movement for a year. If the value goes up holding becomes more profitable and if the prices go down both mining and trading become unprofitable. The only thing that can bring you profit in such case is trading (waiting for small bounces and bull traps to sell).

That goes for you to. And we haven't seen the kind of stability you're talking about since they started with cloud hashing and I honestly don't think the margins will allow it if/when we get there.

[damiano]

When the dust settles there is no room for cloud mining. For cloud mining to makes sense you're dependent on ever increasing prices. And if you think prices will shoot up like that you should probably just buy coins.

Wrong. Both mining and cloud mining are the most effective when prices are stable. This way you can profit even if there's completely no price movement for a year. If the value goes up holding becomes more profitable and if the prices go down both mining and trading become unprofitable. The only thing that can bring you profit in such case is trading (waiting for small bounces and bull traps to sell).

I tried trading when the price was somehow stable (about 1-10$ bumps). But I never managed to make profit from it, because of the high fees. I didnt have much capital, only 0.5 btc and managed to only make 10$ in 2 weeks.
Am I doing something wrong or is my capital just too small?

.5 is to small unless you use leverage but with that it's to dangerous

That's right. With 0.5 invested and a $10 bump, in an ideal situation, you'll get $5 -tax. It's not worth it really, unless you're doing it to learn.
You can of course profit on these small moves, most traders do, but the more coins you have the better.

I usually start with 2 btc @x20 leverage and work my way up, once I have 6-8 I cash out the extra and start again with 2.  Given the current market conditions I haven't cashed out yet since the potential to profit is very high.  This bear wave is strong and I don't see it ending anytime soon.  

[bitgeek]

When the dust settles there is no room for cloud mining. For cloud mining to makes sense you're dependent on ever increasing prices. And if you think prices will shoot up like that you should probably just buy coins.

Wrong. Both mining and cloud mining are the most effective when prices are stable. This way you can profit even if there's completely no price movement for a year. If the value goes up holding becomes more profitable and if the prices go down both mining and trading become unprofitable. The only thing that can bring you profit in such case is trading (waiting for small bounces and bull traps to sell).

That goes for you to. And we haven't seen the kind of stability you're talking about since they started with cloud hashing and I honestly don't think the margins will allow it if/when we get there.

I never said it was stable and that is why mining is not that profitable and cloud companies are going bankrupt one by one. In a stable market mining would be the most profitable solution, beating both holding and trading.

I usually start with 2 btc @x20 leverage and work my way up, once I have 6-8 I cash out the extra and start again with 2.  Given the current market conditions I haven't cashed out yet since the potential to profit is very high.  This bear wave is strong and I don't see it ending anytime soon.  

I agree, we'll probably end up testing January prices again, but another pump is right around the corner.

[adamstgBit]

Hold on to your butts

[ChuckBuck]

Is it an appropriate time for the Pepper your Angus meme?

[BadBear]

Is it an appropriate time for the Pepper your Angus meme?

Oh my god, what is that man doing to his angus?

[noobtrader]

Why are the top two orders colored green?  It wasn't like that before, right?
http://www.otcmarkets.com/stock/GBTC/quote

Maybe they are highlighted to show that they are both tied at the top.  Or they both raised their bids recently.

No something is different... didn't do that before. Bids are increasinng there as well.

Yes, the highest bid is 370 USD / BTC now 

seem no one want to sell at this price ?

https://twitter.com/barrysilbert/status/581167061101092864

[adamstgBit]

Why are the top two orders colored green?  It wasn't like that before, right?
http://www.otcmarkets.com/stock/GBTC/quote

Maybe they are highlighted to show that they are both tied at the top.  Or they both raised their bids recently.

No something is different... didn't do that before. Bids are increasinng there as well.

Yes, the highest bid is 370 USD / BTC now  

seem no one want to sell at this price ?

https://twitter.com/barrysilbert/status/581167061101092864

its live? O_o

edit: thats from march,what is this?

[damiano]

Ask side is slowly growing and bid side is slowly weakening.

[ChartBuddy]

Coin
Explanation

[Ezmoneyezlife]

Lol, people here look at manipulated charts again, dont forget to go long bulls, it was only the first wave of long squeeze, funniest wave is yet to come pretty soon.

[noobtrader]

Why are the top two orders colored green?  It wasn't like that before, right?
http://www.otcmarkets.com/stock/GBTC/quote

Maybe they are highlighted to show that they are both tied at the top.  Or they both raised their bids recently.

No something is different... didn't do that before. Bids are increasinng there as well.

Yes, the highest bid is 370 USD / BTC now  

seem no one want to sell at this price ?

https://twitter.com/barrysilbert/status/581167061101092864

its live? O_o

edit: thats from march,what is this?

this is the latest news, im eagerly waiting for more news

https://twitter.com/GrayscaleInvest

[Ezmoneyezlife]

Why are the top two orders colored green?  It wasn't like that before, right?
http://www.otcmarkets.com/stock/GBTC/quote

Maybe they are highlighted to show that they are both tied at the top.  Or they both raised their bids recently.

No something is different... didn't do that before. Bids are increasinng there as well.

Yes, the highest bid is 370 USD / BTC now  

seem no one want to sell at this price ?

https://twitter.com/barrysilbert/status/581167061101092864

its live? O_o

edit: thats from march,what is this?

this is the latest news, im eagerly waiting for more news

https://twitter.com/GrayscaleInvest

Yep, bitcoin do need more scam projects, no shit man. Wake up, bitcoin was supposed to be a currency, not scam tool like derivatives.

[adamstgBit]

Why are the top two orders colored green?  It wasn't like that before, right?
http://www.otcmarkets.com/stock/GBTC/quote

Maybe they are highlighted to show that they are both tied at the top.  Or they both raised their bids recently.

No something is different... didn't do that before. Bids are increasinng there as well.

Yes, the highest bid is 370 USD / BTC now  

seem no one want to sell at this price ?

https://twitter.com/barrysilbert/status/581167061101092864

its live? O_o

edit: thats from march,what is this?

this is the latest news, im eagerly waiting for more news

https://twitter.com/GrayscaleInvest

SOON^TM
 

[JorgeStolfi]

Why are the top two orders colored green?  It wasn't like that before, right?
http://www.otcmarkets.com/stock/GBTC/quote

Maybe they are highlighted to show that they are both tied at the top.  Or they both raised their bids recently.

No something is different... didn't do that before. Bids are increasinng there as well.

Yes, the highest bid is 370 USD / BTC now  

seem no one want to sell at this price ?
https://twitter.com/barrysilbert/status/581167061101092864

AFAIK the BIT shareholders have not yet received the digital certificates or whatever that they need in order to put their shares up for sale.  So there are no sell offers yet.  Those bids that are posted seem to be symbolic (100 shares = 10 BTC = 2200 $), perhaps just ways for the level-2 brokers to "plant the flag", or to prime  the market with some good-looking numbers.

[phoenix1]

Aaah ... back from my ban - i promise never to mention my fanatical involvement with LeoCoin ever again 

Anyone else feel like this is soon to drop like a sack of spuds or just me ??

Or will Shillbert save the day *in 2 weeks* ??

A visual aid for my market view right now ...

[ChartBuddy]

Coin
Explanation

[adamstgBit]

[Fatman3001]

There you have it bears. Read it and weep. I think the rest of the quote said something about "...at the end of April 2015".

[gentlemand]

That wasn't a very classy thing to claim really. He should be beavering away out of sight, as he's doing too, rather than coming out with things that might bite him on the posterior further down the road.