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

[fairglu]

Beware of a Chinese reversal: HSCEI has been bouncing on 9000 level every year since 2011

http://www.bloomberg.com/quote/HSCEI:IND

[1714248342]

1714248342

[1714248342]

1714248342

[1714248342]

1714248342

[1714248342]

1714248342

[newbie666]

"Hello xxxx
--------------
Trading on Bitfinex is currently halted for all users. We identified an anomaly in
post-trade processing and have suspended trading to resolve the issue"

Everyones favorite leadin western exchange is tryin to prevent the next, probably even bigger, round of long margin calls...
As far as i know the y haven´t even liquidated most of the long holders from the last flash crash because bid side was too small and it would otherwise have crushed to 0-100$???
Get the fuck out!


"BitMEX on Twitter:

    "If Bitfinex trading does not resume by 8:30am GMT a Market Disruption Event will be declared, Bitstamp will become reference exchange"

Bitfinex CEO recording after 18/08/2015 flash crash

https://soundcloud.com/whaleclub-bitcoin/bitfinex-ceo-recording-after-18082015-flash-crash

Bitfinex errors or market manipulation?

https://www.reddit.com/r/BitcoinMarkets/comments/3hpa5e/bitfinex_errors_or_market_manipulation/

Role of market makers in Bitfinex flash crash

https://www.reddit.com/r/BitcoinMarkets/comments/3hsges/role_of_market_makers_in_bitfinex_flash_crash/

Critical issues with Bitfinex trading engine

https://www.reddit.com/r/BitcoinMarkets/comments/3hnk8g/critical_issues_with_bitfinex_trading_engine/

"slacknation
this is a beta site, there is no guarantee of correct data and you should not base your trading on it"

"API not working either."



I´m not going to buy fuck anything above 100$

[BitofaN1]

Orderbooks look ridiculously low bid side, on every exchange.Prepare for double digits this week.

[jertsy]

I'm glad I moved everything I had off Bitfinex before this downtime and the flash crash before it. I'm annoyed I missed a chance for cheap coins during the flash crash, but relieved my coins aren't stuck on Bitfinex now. I was toying with the idea of moving my coins back to Bitfinex in case there was another flash crash. Thankfully I never did it. will there be another crash if/when Bitfinex starts trading again?

[ChartBuddy]

Coin
Explanation

[becoin]

bitcoin will be up with XT or without XT

Mmm... or not?
Bitcoin price tanked. That is a fact. People have voted against XT alt coin fork with their bitcoin wallets.

[BitThink]

I'm glad I moved everything I had off Bitfinex before this downtime and the flash crash before it. I'm annoyed I missed a chance for cheap coins during the flash crash, but relieved my coins aren't stuck on Bitfinex now. I was toying with the idea of moving my coins back to Bitfinex in case there was another flash crash. Thankfully I never did it. will there be another crash if/when Bitfinex starts trading again?

What's the usage of coins during a flash crash?

[LMGTFY]

I'm glad I moved everything I had off Bitfinex before this downtime and the flash crash before it. I'm annoyed I missed a chance for cheap coins during the flash crash, but relieved my coins aren't stuck on Bitfinex now. I was toying with the idea of moving my coins back to Bitfinex in case there was another flash crash. Thankfully I never did it. will there be another crash if/when Bitfinex starts trading again?

What's the usage of coins during a flash crash?

As price shoots down, demand for BTC to short rises. The swap rate will likely skyrocket - typically it's 0.0055% (daily), it went up to 0.0165% a week ago and then came down almost as fast as it went up. In the past we've seen peak rates as high as 0.4%, but the long-term trend seems to be for the peaks to be lower.

Edit: it's probably much clearer visually! https://bfxdata.com/swaphistory/btc <- look at the "FRR" rate on the bottom graph, particularly on 12-month or all time.

[rebuilder]

As price shoots down, demand for BTC to short rises. The swap rate will likely skyrocket - typically it's 0.0055% (daily), it went up to 0.0165% a week ago and then came down almost as fast as it went up. In the past we've seen peak rates as high as 0.4%, but the long-term trend seems to be for the peaks to be lower.

The interest rate on USD has historically been considerably higher, though. If you're going to risk your funds by keeping them on an exchange, maybe selling for USD and lending it out is the better bet?

[Fatman3001]

bitcoin will be up with XT or without XT

Mmm... or not?
Bitcoin price tanked. That is a fact. People have voted against XT alt coin fork with their bitcoin wallets.

I guess Core wasn't able to formulate an adequate response then. Perhaps the problem is that Bitcoin has some leadership issues.

[LMGTFY]

As price shoots down, demand for BTC to short rises. The swap rate will likely skyrocket - typically it's 0.0055% (daily), it went up to 0.0165% a week ago and then came down almost as fast as it went up. In the past we've seen peak rates as high as 0.4%, but the long-term trend seems to be for the peaks to be lower.

The interest rate on USD has historically been considerably higher, though. If you're going to risk your funds by keeping them on an exchange, maybe selling for USD and lending it out is the better bet?

I don't know how people use swaps in general ***, but for me I don't tend to keep my money on exchange. I use swaps when the rate makes it worth the risk I'm taking, which is only really when the rate spikes. At that point I'll pile in that part of my BTC I've set aside for this (an amount I can afford to lose if the worst happened) and try and get the highest rates I can for as long as possible. Most of the swaps will be closed pretty quickly, and unless rates remain high that's the point I move BTC back to my wallet. (This is BTC that - when it's not out on swaps - I'll use for speculation).

My native currency isn't USD, so I'm less inclined to sit with USD (I'm long-term bullish on BTC), and I've not really followed the USD swaps market, but the risk for me would be that BTC/USD rises - leaving me with USD I don't need instead of BTC! It makes my position much more complex - instead of going long on BTC and taking advantage of shorts, I'd be shorting BTC and then lending USD to people with the same outlook as me. That seems way too risky, even with a higher swap rate.

Edit: *** I'm fairly certain I do know how most people use swaps - they pile everything into the FRR and hope they get lucky.

[Norway]

"All these negative waves man..."

I'm bullish as fuck!

[ChartBuddy]

Coin
Explanation

[becoin]

Perhaps the problem is that Bitcoin has some leadership issues.

Perhaps the problem is that Bitcoin under the leadership of government-centric Mike Hearn is the worst possible scenario for the bitcoin community?

[Fatman3001]

Perhaps the problem is that Bitcoin has some leadership issues.

Perhaps the problem is that Bitcoin under the leadership of government-centric Mike Hearn is the worst possible scenario for the bitcoin community?

Perhaps, but it takes quite a bit of incompetence to lose the status core has.

[LFC_Bitcoin]

Had a few days away due to being a bit fed up of reading all of the FUD & trolling. I see the price hasn't recovered yet. Are you guys accumulating now? I bought another 2 bitcoin yesterday to HODL. Will buy again Friday on payday.
Any predictions on which way the price will go next? I've now conceded sub 200 coins could be a real possibility.

[becoin]

Perhaps the problem is that Bitcoin has some leadership issues.

Perhaps the problem is that Bitcoin under the leadership of government-centric Mike Hearn is the worst possible scenario for the bitcoin community?

Perhaps, but it takes quite a bit of incompetence to lose the status core has.

Core without government tools like Mike and Gavin is a much better team with much better status.

[ImI]

sub 200 means 170

[BldSwtTrs]

Is it possible to cancel orders on Finex now?

[Norway]

Perhaps the problem is that Bitcoin has some leadership issues.

Perhaps the problem is that Bitcoin under the leadership of government-centric Mike Hearn is the worst possible scenario for the bitcoin community?

Perhaps, but it takes quite a bit of incompetence to lose the status core has.

Well put, fellow viking.

1 mb every 10 minutes is considered a lot of data? Seriously???!!!! (Many web pages are 3-4 mb!)
AFAIK, XT side use forks, new forums and detailed arguments. Core side use "Do nothing", sensorship and personal attacks.

Many big actors are very clear about their support of an increased blocksize, but still reluctant in the XT issue.

Seems to me that it's only the Blockstream team + Peter Todd in favour of restraining bitcoin to 7 transactions per second. (Maybe some big banks, Mastercard, Visa, Western Union and governments want that limit too, but they don't say it out loud in public. Even 21 inc could be a 1 mb supporter to make mining more toaster friendly, lol!)