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

[JimboToronto]

-belch-

I'm seriously tempted to use The List...

[1714320860]

1714320860

[1714320860]

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[1714320860]

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[Wings1987]

-belch-

I'm seriously tempted to use The List...

I finally did! Not sure what took me so long.

[bassclef]

Good morning Bitcoinland.

Slight dip on pretty big volume I see. I also see it's more than halfway back.

It doesn't appear to want to leave the $230s for long.

Pot on. Mmmm...

There's some speculation that a big part of that dip may have been some erroneous code at bitfinex. I'm not totally up to speed on the situation, however.

I watched it live and it was two whales going at it. Bullwhale won as the market conditions were greatly in his favor. Epic stuff.

If the Dump Team Six (Uncle Ben and the London syndicate) rumors are true, then the stacked orderbook is probably a big middle finger to them. Who dumps into such an oversold market anyway? Talk about a good way to go broke.

[Mrpumperitis]

30K dump moves price down ~$5?? Now I see shorts are up to 30K on BFX. Bears be runnin out of coinz to dump. At this point all they are doing is providing support when/if they cover. I don't know if All week hands have been shaken out, but certainly more have been than yesterday. Bear market running out of steam.

Bears are in denial. 

lol true

[ChartBuddy]

Coin
Explanation

[Sitarow]

[phoenix1]

That would be a bit painful and might help explain the healthy bidside too
I'd also be pretty pissed at BFX if they spoofed me into a short last night

Shorting at this point it time seems excessively risky, like picking up nickles in front of a train. BFX is very influential and may even lead this market, but it doesn't control it. They had a glitch related to an UPGRADE. They are upgrading.

I think you are missing my point. Yes, glitch was related to an upgrade - shit happens. Other shit that happened is that a bunch of people almost certainly DID short the move on several markets, who likely would not have traded if the event did not occur. They are currently 'out of position' right now with shorts they don't really want, and are likely to add to the buying pressure in the next couple of days

[shmadz]

guys any opinion on btc 20mb size in 2016 ?

Here ya go:
https://www.reddit.com/r/Bitcoin/search?q=gavin&restrict_sr=on&t=week

This one is interesting:

Bitcoin devs do NOT have consensus on blocksize

This one is better:

http://bitcoinism.liberty.me/2015/01/21/economic-fallacies-and-the-block-size-limit-part-1-scarcity/

[JimboToronto]

I'm seriously tempted to use The List...

I finally did! Not sure what took me so long.

For me it's like admitting defeat. I try to be tolerant of different views and use trolls as a source of entertainment, so I don't generally use the ignore function.

The only ones on my ignore list are MatTheTwat and the original Trollchop, and even then only after finally tiring of the same old boring trolling (every.fucking.day).

Not all the trolls on The List are lambsocks. Some are actually entertaining. Now if there was a lambsock-only list....

[JimboToronto]

-belch-

I'm seriously tempted to use The List...

ftfy

[adamstgBit]

That would be a bit painful and might help explain the healthy bidside too
I'd also be pretty pissed at BFX if they spoofed me into a short last night

Shorting at this point it time seems excessively risky, like picking up nickles in front of a train. BFX is very influential and may even lead this market, but it doesn't control it. They had a glitch related to an UPGRADE. They are upgrading.

I think you are missing my point. Yes, glitch was related to an upgrade - shit happens. Other shit that happened is that a bunch of people almost certainly DID short the move on several markets, who likely would not have traded if the event did not occur. They are currently 'out of position' right now with shorts they don't really want, and are likely to add to the buying pressure in the next couple of days

i don't think they quite realize they are "out of position" just yet, bitfinex has seen >1k more in shorts come in since i woke up, a few hours ago.

now at 30,995.46 BTC

its looking good,pretty sure the next 24 hours are critical

[inca]

That would be a bit painful and might help explain the healthy bidside too
I'd also be pretty pissed at BFX if they spoofed me into a short last night

Shorting at this point it time seems excessively risky, like picking up nickles in front of a train. BFX is very influential and may even lead this market, but it doesn't control it. They had a glitch related to an UPGRADE. They are upgrading.

I think you are missing my point. Yes, glitch was related to an upgrade - shit happens. Other shit that happened is that a bunch of people almost certainly DID short the move on several markets, who likely would not have traded if the event did not occur. They are currently 'out of position' right now with shorts they don't really want, and are likely to add to the buying pressure in the next couple of days

i don't think they quite realize they are "out of position" just yet, bitfinex has seen >1k more in shorts come in since i woke up, a few hours ago.

now at 30,995.46 BTC

its looking good,pretty sure the next 24 hours are critical

Yep just noticed we are a hair off 31k shorts. Someone is going to get burned when this resolves

It is a beautiful thing - a rising price, and rising shorts already underwater..ha

[sleger]

Yep just noticed we are a hair off 31k shorts. Someone is going to get burned when this resolves

And leveraged longs don't matter, because ... ?

[Fatman3001]

That would be a bit painful and might help explain the healthy bidside too
I'd also be pretty pissed at BFX if they spoofed me into a short last night

Shorting at this point it time seems excessively risky, like picking up nickles in front of a train. BFX is very influential and may even lead this market, but it doesn't control it. They had a glitch related to an UPGRADE. They are upgrading.

I think you are missing my point. Yes, glitch was related to an upgrade - shit happens. Other shit that happened is that a bunch of people almost certainly DID short the move on several markets, who likely would not have traded if the event did not occur. They are currently 'out of position' right now with shorts they don't really want, and are likely to add to the buying pressure in the next couple of days

i don't think they quite realize they are "out of position" just yet, bitfinex has seen >1k more in shorts come in since i woke up, a few hours ago.

now at 30,995.46 BTC

its looking good,pretty sure

the next 24 hours are critical

I agree,

[inca]

Yep just noticed we are a hair off 31k shorts. Someone is going to get burned when this resolves

And leveraged longs don't matter, because ... ?

Oh they matter plenty. But they didn't squeeze at 160. I would wager most of the long position is miners and early adopters using coins as collateral. They can afford to sit and wait.

If you are short - you are exposed to unlimited losses as the price rises. And majority of the shorts opened currently were opened below 300. The last run up from 214 to 245 saw us close about 5k shorts. Lets see how many fold if we move up towards 240 again.

edit: ask walls melting as the price inches closer

edit 2: boom

edit 3: and there is the complete retrace

[Norway]

Here we go again! 

[inca]

The best thing is..2700 shorts are underwater from the last 24 hours alone

[Fatman3001]

Yep just noticed we are a hair off 31k shorts. Someone is going to get burned when this resolves

And leveraged longs don't matter, because ... ?

LALALALALALALALALALA!!!!





Cause bulls be stubborn and bears be twitchy.....seriously!

[TakeTheSkyRoad]

Your trading at Bitstamp is absolutely free till May 31st!
Yes, you read correctly! Your account now has 0% trading fee.

You have been selected to participate in our exclusive promotional campaign where we have selected a handful of loyal Bitstamp customers to participate. Enjoy trading with Bitstamp!

Your business and your suggestions are valued. If you have any comments on how to further improve our services, please send them in reply to this email.

Best regards,
Bitstamp team

Well that was an unexpected email.... I'm small fry too and haven't traded much during this sideways run.
Possibly this is encouragement !

Has anyone else seen this ?
I checked the last few pages here and I don't think this has been posted yet.

[inca]

Your trading at Bitstamp is absolutely free till May 31st!
Yes, you read correctly! Your account now has 0% trading fee.

You have been selected to participate in our exclusive promotional campaign where we have selected a handful of loyal Bitstamp customers to participate. Enjoy trading with Bitstamp!

Your business and your suggestions are valued. If you have any comments on how to further improve our services, please send them in reply to this email.

Best regards,
Bitstamp team

Well that was an unexpected email.... I'm small fry too and haven't traded much during this sideways run.
Possibly this is encouragement !

Has anyone else seen this ?
I checked the last few pages here and I don't think this has been posted yet.

Interesting. They are obviously trying to generate volume. The orderbook is very thin at the moment.