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Question: What happens first:
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26336341 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (170 posts by 1 users with 9 merit deleted.)
Torque
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January 05, 2017, 06:01:09 AM

I smell conspiracy.  Naked short selling at Stamp to hold down price? They are Coinbase's main exchange, amiright?

Nope.  Coinbase has their own exchange now: https://gdax.com

Yeah but when they run out of coins, they have to get them from somewhere else.
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BTC or BUST


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January 05, 2017, 06:02:41 AM

 Chinese miners sell on chinese exchanges.

Why?
Wouldn't they also rather have btc or usd?
mb300sd
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January 05, 2017, 06:03:56 AM

Stamp must be out of USD. Coinbase, Gemini, GDAX.. so much easy arb.
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January 05, 2017, 06:04:10 AM

I smell conspiracy.  Naked short selling at Stamp to hold down price? They are Coinbase's main exchange, amiright?

I don't have a link, but I think that coinbase largely discontinued that relationship with Stamp a couple of years ago, once GDAX opened up, Coinbase went their own way with figuring out their liquidation issues. 

Sure, maybe every once in a while in a pinch Coinbase may have the option to process coins through Stamp, but I don't think that Stamp is any kind of go to for Coinbase like they were in 2013-ish.
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January 05, 2017, 06:16:32 AM

https://alternativeeconomics.co/blogline/54906-bitcoin-explodes-higher-as-chinese-money-market-liquidity-collapses   3hrs ago
 Bitcoin Explodes Higher As Chinese Money Market Liquidity Collapses



As one veteran trader noted “something is very broken.“ After a massive short-squeeze stronger in offshore yuan during the day session, overnight yuan deposit rates have exploded 31.5 percentage points higher to 45% - just shy of the record highs - as China's liquidity crisis is front-and-center. At the same time, coincidence or not, Bitcoin has gone vertical, smashing through previous record highs.

The People's Bank of China injected CNY10 billion via seven-day reverse repos and skipped 14-day reverse repos at its open-market operations Thursday, according to traders.

    The moves resulted in a net drain of CNY140 billion for the day.
    The central bank has removed CNY435 billion in liquidity at OMMOs so far this week.

Utter desperation for liquidity has prompted deposit rates to explode.....



CRYTPO GOOONAAA MOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOON
 Grin Grin Grin      Grin Grin Grin
coolbeans94
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January 05, 2017, 06:19:29 AM

https://alternativeeconomics.co/blogline/54906-bitcoin-explodes-higher-as-chinese-money-market-liquidity-collapses   3hrs ago
 Bitcoin Explodes Higher As Chinese Money Market Liquidity Collapses



As one veteran trader noted “something is very broken.“ After a massive short-squeeze stronger in offshore yuan during the day session, overnight yuan deposit rates have exploded 31.5 percentage points higher to 45% - just shy of the record highs - as China's liquidity crisis is front-and-center. At the same time, coincidence or not, Bitcoin has gone vertical, smashing through previous record highs.

The People's Bank of China injected CNY10 billion via seven-day reverse repos and skipped 14-day reverse repos at its open-market operations Thursday, according to traders.

    The moves resulted in a net drain of CNY140 billion for the day.
    The central bank has removed CNY435 billion in liquidity at OMMOs so far this week.

Utter desperation for liquidity has prompted deposit rates to explode.....


CRYTPO GOOONAAA MOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOON
 Grin Grin Grin      Grin Grin Grin
8,800 Incoming... I said it before, and say it again:

Indicators are meaningless when the Chinese are just printing fiat money infinitely. You have to keep in mind the Chinese have been printing unlimited amounts of fiat at a faster pace than anyone else, but try to prevent it from leaving the country on the official fiat money exchange rates. They will try to maintain a fiat exchange rate fix as long as possible, so they maintain purchasing power, but it is really just like Monopoly money to them. Bitcoin/crypto may be a way of escape.


8,800? I mean why not right?

Yeah. Continuing devaluation and rumors of capital controls.

8,850 Why not??? Just print moar fiat! No problem!

It's not really the "money printing", its the loss of purchasing power (symptom of this though; devaluation and strengthening USD), and fear of being locked in to a devaluing currency. It's part of a bigger trend. Bitcoin is just a protocol and conduit.
Limitless Unrestrained money printing via fractional reserve banking = Loss of purchasing power. Even with the fixed exchanged rate of CNY/USD. The thing is it is a fixed exchange rate = fake exchange rate; if all restrictions were lifted and we had a free market exchange rate what you would see is exactly what your are seing in CNY/BTC.

The fixed exchange rate is about to break..... or is already breaking.

EDIT: Central bank can only hold the fix so long. They are already tapping into hundreds of billions reserves to try to hold the line (fix).
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January 05, 2017, 06:25:41 AM

https://www.cryptocoinsnews.com/bitcoin-makes-history-reaches-gold-parity/
Reaching gold parity is an historical milestone for the eight-year-old digital currency which has grabbed the world’s imagination since its invention, spurring thousands of likewise blockchains, with the most prominent, Ethereum, which extends the capabilities of this new invention to that of fully programmable money.

If it maintains it, the event will probably be seen as the tipping point as the permissionless, decentralized, cost efficient, limited, programmable money, which even the United States government accepts cannot be shut down and a member of Trump’s administration states is “not manipulatable by any government,” finally announces its arrival on the world stage, regardless of what price now does.
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lose: unfind ... loose: untight


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January 05, 2017, 06:33:20 AM

...Stamp ... They are Coinbase's main exchange, amiright?

No. Coinbase == GDAX

edit: nevermind - I see it's already been addressed. sorry.
Searing
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January 05, 2017, 06:48:35 AM

No need to thank me...I sold out at $1154 usd about 3.6 BTC to pay off the last of my KNC Liquidation Titans from the summer.
(6 of them) took out 11.4k home equity loan on the fact they would pay themselves back...boy was I right Smiley

cool beans

also 1k i owed a guy for stuff in BTC

Had to do it....I remember I COULD HAVE gotten my 2013 nov original Neptune from knc for like 13 btc at the last ATH and paid cash instead
ouch.....so fear of looking like an ass if it dumps back to a reasonable (or at least last month in my view) price of say 900 usd

took my profits and ran ran like the wind

kinda cool send someone 1k and it was 0.86 btc or some such...much much nicer than Jan 1st 2016 don't ya know

I guess my next panic sale to cover my but of some BTC will be around the $1,650 btc price...hell the way that is going we could be there

by Feb 1st 2017 for crying out loud.

(we also serve who cash out and run away to help the pump of BTC into circulation)

man this is great on so many levels

so was these guys




then again it was only 3.6 BTC...maybe it was more of a 'slow walk' on my part.....


of course if the price pumps from now on you have me to thank (its a gift) Smiley

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January 05, 2017, 07:14:14 AM

When I am typing this is the US Dollar price comparison among these exchanges
Bitstamp 1117.93
BTC-e 1089.48
Bitfinex 1149.9
Okcoin 1169

Everybody can have his own price  Roll Eyes
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January 05, 2017, 07:15:00 AM

traders at stamp are completely out of cash.
price glued at $1,118, $40 below spot. nobody arbing until deposits come in.
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January 05, 2017, 07:18:42 AM

When I am typing this is the US Dollar price comparison among these exchanges
Bitstamp 1117.93
BTC-e 1089.48
Bitfinex 1149.9
Okcoin 1169

Everybody can have his own price  Roll Eyes


I think you mean $1269 for OKCoin?
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January 05, 2017, 07:25:15 AM
Last edit: January 05, 2017, 07:38:52 AM by notme

Call me crazy, but I think we consolidate here for 12 - 36 hours.  Momentum is sapped for now.  I took out a small short position @1150 with a trailing stop.  Time to sleep.  After the markets rest, we can start the FOMO.
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January 05, 2017, 07:33:08 AM

Stamp's got no dollars, amazing watching this.
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January 05, 2017, 07:37:34 AM

Call me crazy, but I think we consolidate here for 12 - 36 hours.  Momentum is sapped for now.  I took out a small short position with a trailing stop.  Time to sleep.  After the markets rest, we can start the FOMO.

I hear you but tough call to say the Chinese honey badger is sated.  I made the same call yesterday at the same time but turned out to just be badger nap time. 
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January 05, 2017, 07:42:42 AM

Call me crazy, but I think we consolidate here for 12 - 36 hours.  Momentum is sapped for now.  I took out a small short position with a trailing stop.  Time to sleep.  After the markets rest, we can start the FOMO.

I hear you but tough call to say the Chinese honey badger is sated.  I made the same call yesterday at the same time but turned out to just be badger nap time.  

https://twitter.com/bbands/status/816717439853424640

China shows 3 pushes to new highs with declining momentum each time (over the past 12 hours, easiest to see on 15 minute charts).  It just made a similar 3 push move on smaller time frames ending in a double top around the psychological barrier of 8888.  It's already starting to turn down.  If I'm wrong, I lose what I made with long positions tonight.  If I'm right, I can double or triple what I made.  Either way, the vast majority of my stash is safe and sound.

Good night and good luck Smiley
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January 05, 2017, 07:53:08 AM

traders at stamp are completely out of cash.
price glued at $1,118, $40 below spot. nobody arbing until deposits come in.


Within the past hour, I just did a little bit of arbing there... my small contribution... , which just amounted to a couple of coins in total.
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January 05, 2017, 07:56:50 AM


I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours.

It's possible, but I doubt it.

A large one *will* follow, but it's not time yet.

How large do you think?


About 3x the amplitude of this small dump, if the bearish scenario is favored, we'll see soon...

well, tzupy, I guess you were wrong.
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January 05, 2017, 08:17:36 AM

If the Chinese are panic buying at any price to get their money out while they can and then cashing out at Bitstamp - would that explain this?

If it is capital flight, it makes sense. What price boats on the deck of the Titanic?

Finex is in HK (still under Chinese jurisdiction) and also not trusted as much.  Stamp is in the Euro zone... money is 'safer', other exchanges are newer and need registering etc.

Edit: Not the volume to totally justify this thoery of course.

Maybe transfers will arrive this morning and we will see Stamp shoot up if it's just lack of cash in there....
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January 05, 2017, 08:22:38 AM


I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours.

It's possible, but I doubt it.

A large one *will* follow, but it's not time yet.

How large do you think?


About 3x the amplitude of this small dump, if the bearish scenario is favored, we'll see soon...

well, tzupy, I guess you were wrong.


To be fair, I thought his call made a lot of sense...it's just that Bitcoin stops caring about what makes sense once it goes into full rally mode.
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