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

[HairyMaclairy]

So it looks like the drop to triple digits isn't going to happen tonight, go figure.

I thought it was single digits we were supposed to go down to.

$1 million

[1714469155]

1714469155

[1714469155]

1714469155

[Torque]

And Thar She Blows!!!!!!!!

Poor Jamie Dimon, he shouldn't have shorted.   

[shmadz]

<snip>

But the price can change by 20% in one day. Hell, in one hour. Or minute even. So what's the deal here? They haven't done their research, or they are trying to force bitcoin to conform to their fiat norms, or what?

yeah, they have no idea what they're dealing with. They are being pressured by their clients that want exposure to the price, but they can't cover losing bets when the price moves further than their margin limits can cover.

I'm sure there is enough demand from the customers to continue futures trading, but they will need to re-think their approach: just imagine - they broke their limit in about 4.5 hours... just imagine what might happen when they close shop for the weekend?

[pfrtlpfmpf]

So it looks like the drop to triple digits isn't going to happen tonight, go figure.

I thought it was single digits we were supposed to go down to.

One digit here ore there, what´s the difference ?

[arklan]

So it looks like the drop to triple digits isn't going to happen tonight, go figure.

Gotta fix more miners! Finally figuring out the Antminer series, those things are basic as a box of rocks. I always though Bitmain had some super cool tech, naah same basic issues as the rest of them.

C

Handy. Got any you might sell?

[TERA2]

Bearstamp still thinks bitcoin is dying. $650 behind finex

[shmadz]

NICE! they are just halting trading momentarily as the price hits certain limits...



still not sure what they're gonna do over the weekend, but for now it seems like it's "game on!"

[fabiorem]

<snip>

But the price can change by 20% in one day. Hell, in one hour. Or minute even. So what's the deal here? They haven't done their research, or they are trying to force bitcoin to conform to their fiat norms, or what?

yeah, they have no idea what they're dealing with. They are being pressured by their clients that want exposure to the price, but they can't cover losing bets when the price moves further than their margin limits can cover.

I'm sure there is enough demand from the customers to continue futures trading, but they will need to re-think their approach: just imagine - they broke their limit in about 4.5 hours... just imagine what might happen when they close shop for the weekend?

It is said they are going to use arbitrage. They will buy and sell from a real exchange and send it to futures.

This video gives some explanation: https://www.youtube.com/watch?v=vGnH-Od1lJM

[HairyMaclairy]

We gonna bust the 20% limit today?  Second trading halt. 

Wonder if the shorts are being margin called already.

[arklan]

Looking at the 24 bitstamp chart, god damn that's a hell of a step rise. Way over 45 degrees...

My God, we have no reason to expect it to stop climbing for thousands of dollars, minus corrections, do we? It could just... Go...

[marcus_of_augustus]

Hahaha, this is classic ... Wall St. comes to bitcoin and gets limit-up #r3kt on the first day, it's like these guys are an amateur hour shitshow!

And Thar She Blows!!!!!!!!

[shmadz]

<snip>

But the price can change by 20% in one day. Hell, in one hour. Or minute even. So what's the deal here? They haven't done their research, or they are trying to force bitcoin to conform to their fiat norms, or what?

yeah, they have no idea what they're dealing with. They are being pressured by their clients that want exposure to the price, but they can't cover losing bets when the price moves further than their margin limits can cover.

I'm sure there is enough demand from the customers to continue futures trading, but they will need to re-think their approach: just imagine - they broke their limit in about 4.5 hours... just imagine what might happen when they close shop for the weekend?

It is said they are going to use arbitrage. They will buy and sell from a real exchange and send it to futures.

This video gives some explanation: https://www.youtube.com/watch?v=vGnH-Od1lJM

OK, first of all, don't listen to those two guys in the video. they have no clue, you will get REKT

Second, how are you going to "send it to futures" when the futures don't trade over the weekend?

Third, oh, nevermind, you are going to be REKT no matter what I say.

Best of luck trading

*edit* I immediately feel sorry for posting this. I would delete it but that would be cowardly and dishonest. I'm sorry for the hurtful words. I sincerely wish you all the best.

[cableiso]

Soon the bots will come online and arb all the exchanges to the futures price.  It may be a wild couple days but things will certainly settle soon.

18.3K is looking good though, thanks China!

[TERA2]

Right now the Jan futures have 1.6K of volume. Why would the price be arbed there? Weve never arbed to GBTC either.

[fabiorem]

<snip>

But the price can change by 20% in one day. Hell, in one hour. Or minute even. So what's the deal here? They haven't done their research, or they are trying to force bitcoin to conform to their fiat norms, or what?

yeah, they have no idea what they're dealing with. They are being pressured by their clients that want exposure to the price, but they can't cover losing bets when the price moves further than their margin limits can cover.

I'm sure there is enough demand from the customers to continue futures trading, but they will need to re-think their approach: just imagine - they broke their limit in about 4.5 hours... just imagine what might happen when they close shop for the weekend?

It is said they are going to use arbitrage. They will buy and sell from a real exchange and send it to futures.

This video gives some explanation: https://www.youtube.com/watch?v=vGnH-Od1lJM

OK, first of all, don't listen to those two guys in the video. they have no clue, you will get REKT

Second, how are you going to "send it to futures" when the futures don't trade over the weekend?

Third, oh, nevermind, you are going to be REKT no matter what I say.

Best of luck trading

Im not going to trade in futures.

[Rosewater Foundation]

This thing is totally unhinged from the underlying asset. Is that how Wall St. do?

[arklan]

This thing is totally unhinged from the underlying asset. Is that how Wall St. do?

Seems like... Maybe it'll level out in time?

[shmadz]

This thing is totally unhinged from the underlying asset. Is that how Wall St. do?

Seems like... Maybe it'll level out in time?

I would like to see a futures market that enforced delivery. that would actually have some use for miners and others that are trying to hedge risk.

This seems like a pure derivative market adding risk instead of mitigating it...

I suppose time will tell.750

*edit* looks like futures are over 18000 while bitstamp is still around 15750 - not sure which one will follow the other at this point?

[bitserve]

This thing is totally unhinged from the underlying asset. Is that how Wall St. do?

Seems like... Maybe it'll level out in time?

I would like to see a futures market that enforced delivery. that would actually have some use for miners and others that are trying to hedge risk.

This seems like a pure derivative market adding risk instead of mitigating it...

I suppose time will tell.

They are not used to "delivery". Who in their right senses would want a fucking BUNCH of soya being delivered to them? What about logistics?

Even gold is cumbersome enough.

They are not used to an asset as easily deliverable as Bitcoin is.

And yes, futures are derivatives, no?

[shmadz]

This thing is totally unhinged from the underlying asset. Is that how Wall St. do?

Seems like... Maybe it'll level out in time?

I would like to see a futures market that enforced delivery. that would actually have some use for miners and others that are trying to hedge risk.

This seems like a pure derivative market adding risk instead of mitigating it...

I suppose time will tell.

They are not used to "delivery". Who in their right senses would want a fucking BUNCH of soya being delivered to them? What about logistics?

Even gold is cumbersome enough.

They are not used to an asset as easily deliverable as Bitcoin is.

Typically the brokerage that facilitates the trade will settle prior to the delivery date. http://futures.tradingcharts.com/tafm/tafm10.html

The whole point of futures was supposed to be delivery of a certain commodity at a certain date for a certain price.

Of course, as with everything else, the point has been lost over time...