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

[Tstar]

very stable price it's good

It's boring.

It's good for merchants right now: they know what they earn and they don't have to worry about the socalled volatility. For traders, maybe. It depends on what kind of trader one is. But generally no it's quite boring. Even bitcoinwisdom loses interest these days.

[macsga]

China breaks up $64 billion underground banking: state media

Chinese authorities have uncovered the country's biggest underground banking case involving transactions totalling more than 410 billion yuan ($64 billion), official media reported, part of a drive to combat illegal capital outflows.

The investigation, which started in September and focused on the costal province of Zhejiang, found that dozens of Hong Kong-registered shell companies forged more than 1.3 million fake transactions to transfer money offshore, the official People's Daily reported on Friday.

China started cracking down on underground banks in April and has so far uncovered more than 170 cases of money laundering and illegal fund transfers, involving more than 800 billion yuan ($125.34 billion). The cases come as capital outflows reach hundreds of billions of dollars, triggering alarm in some circles.

A hundred suspects from eight gangs were detained in the latest case, the official Xinhua News Agency said.


http://www.reuters.com/article/2015/11/20/us-china-crackdown-capital-idUSKCN0T906C20151120#7b3rLrqx7s8iE1xh.97


Am I the only one that sees a new BTC pump soon?

[Mervyn_Pumpkinhead]

I keep seeing this "stable prices not good for trading" line. Have BTC traders developed a very limited definition of trading that ignores derivatives?

Bitcoin dependent alts like ltc, ppc and nmc are basically the bitcoin derivatives that I've been mostly trading. You don't want to go into more complicated schemes in the market that has strong transparency issues and issues with lack of regulation. That's how you get lured into things that are not useful to you. Keeping it simple and following the current momentum of the market is the most foolproof way of trading crypto.

[Dotto]

China breaks up $64 billion underground banking: state media

Chinese authorities have uncovered the country's biggest underground banking case involving transactions totalling more than 410 billion yuan ($64 billion), official media reported, part of a drive to combat illegal capital outflows.

The investigation, which started in September and focused on the costal province of Zhejiang, found that dozens of Hong Kong-registered shell companies forged more than 1.3 million fake transactions to transfer money offshore, the official People's Daily reported on Friday.

China started cracking down on underground banks in April and has so far uncovered more than 170 cases of money laundering and illegal fund transfers, involving more than 800 billion yuan ($125.34 billion). The cases come as capital outflows reach hundreds of billions of dollars, triggering alarm in some circles.

A hundred suspects from eight gangs were detained in the latest case, the official Xinhua News Agency said.


http://www.reuters.com/article/2015/11/20/us-china-crackdown-capital-idUSKCN0T906C20151120#7b3rLrqx7s8iE1xh.97


Am I the only one that sees a new BTC pump soon?

If only 1% ends in BTC would be a nice pump, but I don´t see it yet.

Long sideways coming

[Dotto]

I keep seeing this "stable prices not good for trading" line. Have BTC traders developed a very limited definition of trading that ignores derivatives?

Bitcoin dependent alts like ltc, ppc and nmc are basically the bitcoin derivatives that I've been mostly trading. You don't want to go into more complicated schemes in the market that has strong transparency issues and issues with lack of regulation. That's how you get lured into things that are not useful to you. Keeping it simple and following the current momentum of the market is the most foolproof way of trading crypto.

The point is that current market has no momentum. At all.

[ChartBuddy]

Coin



Explanation

[LMGTFY]

I keep seeing this "stable prices not good for trading" line. Have BTC traders developed a very limited definition of trading that ignores derivatives?

Bitcoin dependent alts like ltc, ppc and nmc are basically the bitcoin derivatives that I've been mostly trading. You don't want to go into more complicated schemes in the market that has strong transparency issues and issues with lack of regulation. That's how you get lured into things that are not useful to you. Keeping it simple and following the current momentum of the market is the most foolproof way of trading crypto.

I'm not sure I'd regard alts as derivatives - to me that's like saying JPY is a derivative of GBP. I was meaning more conventional derivatives, like options.

Profit is useful to me, and isn't this discussion about trading when there isn't any momentum (i.e. following the current momentum isn't an option)? "Keeping it simple" has to be about more than sitting on your hands and complaining about the lack of volatility. I take your point about transparency and regulation, but they're considerations whether I'm trading straight BTC or derivatives.

[Elwar]

very stable price it's good

Good for what? Not for trading at least... if you're not into blind gambling, then you'll start to play only after there is some observable momentum.

Good for use as a currency.

[Mervyn_Pumpkinhead]

I'm not sure I'd regard alts as derivatives - to me that's like saying JPY is a derivative of GBP. I was meaning more conventional derivatives, like options.

Profit is useful to me, and isn't this discussion about trading when there isn't any momentum (i.e. following the current momentum isn't an option)? "Keeping it simple" has to be about more than sitting on your hands and complaining about the lack of volatility. I take your point about transparency and regulation, but they're considerations whether I'm trading straight BTC or derivatives.

Using bitcoin options is one step closer to playing with dumb blind luck. "Keeping it simple" is about playing when there is momentum, and using your funds for something else when there is no momentum. Trading bitcoin and its derivatives isn't the only way you can use your funds to earn. It's even better to play poker with your money, during these times of uncertainty. At least that way you'll have more control of the outcome.
And you just don't use more funds for speculating the price of crypto, then you would use in a casino for entertainment. If you plan to use more funds, then you'll invest into more secure directions, like the infrastructure that revolves around bitcoin, that is less dependent on bitcoin's success and price, and more dependent on the entire future of cryptocurrencies. This way you'll also have more control on the outcome of things and you don't have to depend on blind luck.

[ChartBuddy]

Coin



Explanation

[Mervyn_Pumpkinhead]

very stable price it's good

Good for what? Not for trading at least... if you're not into blind gambling, then you'll start to play only after there is some observable momentum.

Good for use as a currency.

Temporal stability doesn't make bitcoin good as a currency. Stability should be predictable and stable for a lot longer periods then days, weeks or even months.
Currently it's just a low quality currency losing it's only attractive attribute that is being good for speculation.

[marcus_of_augustus]

very stable price it's good

Good for what? Not for trading at least... if you're not into blind gambling, then you'll start to play only after there is some observable momentum.

Good for use as a currency.

Temporal stability doesn't make bitcoin good as a currency. Stability should be predictable and stable for a lot longer periods then days, weeks or even months.
Currently it's just a low quality currency losing it's only attractive attribute that is being good for speculation.

... your bear cred appears to be expiring much faster than bitcoin's utility value. The market can stay wrong longer than you can remain solvent and in the long term fundamentals will inevitably be priced in, don't bet more than you can afford to lose.

[Tzupy]

Turkish F-16 shoots down Russian Su-24, markets react (especially the Turkish lira down), bitcoin doesn't give a shit...
http://www.zerohedge.com/news/2015-11-24/turkish-f-16-shoots-down-russian-su-24-warplane-near-syria-border

[Mervyn_Pumpkinhead]

... your bear cred appears to be expiring much faster than bitcoin's utility value. The market can stay wrong longer than you can remain solvent and in the long term fundamentals will inevitably be priced in, don't bet more than you can afford to lose.

And you are still unable to post anything meaningful that could contribute to the ongoing subject. Still just a troll, trying to dig out some emotional response.

[marcus_of_augustus]

... your bear cred appears to be expiring much faster than bitcoin's utility value. The market can stay wrong longer than you can remain solvent and in the long term fundamentals will inevitably be priced in, don't bet more than you can afford to lose.

And you are still unable to post anything meaningful that could contribute to the ongoing subject. Still just a troll, trying to dig out some emotional response.

bear trolling is eminently useful in a bitcoin enthusiasts forum you plonker.

[BayAreaCoins]

Someone is currently buying a metric fuckton of Quarterly futures on OKcoin.

Adding in stacks of 2,000 contracts or so.

[ChartBuddy]

Coin



Explanation

[lottery248]

Coin



Explanation

no major changes, meaning we won't risk a lot in short term. 
wishing for black friday to give us the major price increase.

[Mervyn_Pumpkinhead]

... your bear cred appears to be expiring much faster than bitcoin's utility value. The market can stay wrong longer than you can remain solvent and in the long term fundamentals will inevitably be priced in, don't bet more than you can afford to lose.

And you are still unable to post anything meaningful that could contribute to the ongoing subject. Still just a troll, trying to dig out some emotional response.

bear trolling is eminently useful in a bitcoin enthusiasts forum you plonker.

Trolling is always useful and fun when it's creative. But you, sir, are as creative as a rock.
Maybe try something else besides trolling?

[marcus_of_augustus]

... your bear cred appears to be expiring much faster than bitcoin's utility value. The market can stay wrong longer than you can remain solvent and in the long term fundamentals will inevitably be priced in, don't bet more than you can afford to lose.

And you are still unable to post anything meaningful that could contribute to the ongoing subject. Still just a troll, trying to dig out some emotional response.

bear trolling is eminently useful in a bitcoin enthusiasts forum you plonker.

Trolling is always useful and fun when it's creative. But you, sir, are as creative as a rock.
Maybe try something else besides trolling?

why would I waste perfectly good creativity on a bear trolling thread? ... this is where I come to dump on bitcoin haters, the creative magic happens elsewhere, it would be wasted on dolts like you besides.