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

[Last of the V8s]

Code:

<10:25:19> "K": https://twitter.com/skew_markets/status/1106131647987154944
<10:25:42> "K": Good write up on liquidity and respective time zones on when BTC is most active
<10:29:05> "K": 
<10:29:32> "K": The Anti-BFX Agenda is strong these days 
<10:29:49> "K": Dude people still FUD tether ffs lol
<10:30:01> "K": and they even opened up redeptions for ALLL of the retail plebs
<10:30:25> "K": not to mention usdt/usd pairs..
<10:30:45> "K": Think I saw a tweet a while back, where BFX had the deepest liquidity on books for spot markets.
<10:30:48> "K": let me see
<10:31:30> "K": https://twitter.com/bitfinex/status/1100334074210779137
<10:33:26> "K": BTW it costs £24.3k for colocation at finex
<10:33:49> "K": For 1 year, excluding installation.
<10:33:52> "K": Pretty cheap imho
<10:34:01> "K": for co-lo it is
<10:34:31> "K": Ik, but it gives real advantages in terms of speed. Especially if you into the hft side of things
<10:35:03> "K": Okex co-lo is $40k avg..
<10:35:51> "K": True, to each their own I guess. But for liquidity modelling and HFT based off order flow/block it's pretty much needed.
<10:36:24> "K": Because the sooner you can get your signal processed and sent back to the server the more likely you are to get filled and or complete a round trip.
<10:36:59> "K": Doubly so for arbtriage moments on some pairs that only appear for a small window.
<10:37:06> "G": that is true
<10:37:08> "K": Like for example the BTC/USD pair and the BTC/JPY pair
<10:37:13> "K": on the same exchange finex
<10:37:38> "K": 3% withdrawl for 1MM +
<10:37:40> "K": fees
<10:37:55> "K": so it's harder to withdraw larger amounts and "bulk-arb"
<10:38:07> "K": so people have to keep doing it in smaller increments
<10:38:30> "K": but then it get's to the point where they've used up their "quota" for not hitting that fees.
<10:38:49> "K": And until they can do another cycle/trip the arb gap widens again.
<10:39:11> "K": In this case you need more "individual players/accounts" to do the arbing rather than a select "few" with deep pockets and or coins.
<10:39:38> "B": do BFX run multiple books?
<10:39:43> "G": no one book
<10:39:47> "K": B nope just 1 book.
<10:40:04> "K": ETHFINEX and bfx books are shared
<10:40:12> "B": 100% sure on that??
<10:40:19> "K": Yes
<10:40:27> "B": ok
<10:42:12> "B": i'm not a dev/code writer but work in the industry and we have an exchnage we inherited from a very very well known (now not in the UK) broker/exchange their old ECN system
<10:42:29> "B": that gave the impression on 1 book but in fgact there were many books
<10:42:36> "G": disgusting
<10:42:42> "G": gox used t o have that, soooo shit
<10:43:02> "B": the ECN would scan in nano-seconds each book to clash the order
<10:43:08> "K": I guess it could be similar...
<10:43:23> "K": As in theirs a public book for bfx which is what everyone sees.
<10:43:37> "B": but this was with FX/CFDs/metals etc etc etc not a single instrument
<10:43:44> "G": bfx is one book and thats why u see some orders > 5 sig digits sometimes cuz its from the other currency
<10:43:47> "K": And then another book, where people are able to see hidden asks/bids  stops etc,,,
<10:43:52> "K": But I doubt they do that.
<10:43:53> "B": thats what i mean
<10:44:50> "B": i had just read flash boys (michael lewis) when i worked there and was interesting
<10:45:25> "K": B Flash boys is an amazing book 
<10:45:32> "K": And also the reminsice of a stock operator.
<10:45:50> "B": it is a great read
<10:46:00> "K": https://en.wikipedia.org/wiki/Reminiscences_of_a_Stock_Operator
<10:46:14> "B": that old ECN system i am talking about is now dead and zipped away
<10:46:23> "B": what about bitmex?
<10:46:37> "B": i notice price changes on mkt order
<10:46:49> "K": B Bitmex does active liquidity modelling on their exchange and books.
<10:47:00> "K": Although they claim to keep that arm of the business seperate...
<10:47:18> "B": well thats bullshit!
<10:47:54> "K": They even had to oficcially recognise/comment on it when people got riled up on the Anchor MM shenanigans...
<10:48:04> "K": G Look at this...
<10:48:14> "B": they are they have to be!!!
<10:48:16> "B": exactly
<10:48:19> "B": instant liq
<10:48:39> "K": G https://boards.greenhouse.io/bitmex/jobs/4134149002
<10:48:39> "B": instant liq is double edged sord tho
<10:48:44> "B": sword
<10:48:51> "K": They are actively hiring for their MM deks
<10:48:55> "K": desk*
<10:49:05> "B": lol
<10:50:23> "K": for Citi
<10:50:36> "B": yep you know it, even same rack!
<10:50:41> "K": https://boards.greenhouse.io/bitmex/jobs/4126285002
<10:50:58> "K": And you think the quants don't pass on that information to the trading desk^
<10:51:22> "K": "Knowledge on variety of stress testing scenarios (eg. spot/vol grid) for initial/maintenance margin calculation. -Mathematically modelling linear and non-linear products during liquidations."
<10:52:21> "B": how ocme bitmexx is always having system overloads?  that wipes out book and you get them SO fcking wicks
<10:52:44> "B": cos the books empty
<10:53:00> "R": if you are getting stopped out, try setting the stop to use the index price not the last price
<10:53:10> "R": it helps to stop you getting wicked out on crazy mex shiz
<10:53:15> "B": YES
<10:53:23> "B": thats EXACTLY what i think too!!!!
<10:53:49> "R": is that to me? ive had speaker on mute
<10:54:48> "B": their platform should handle every order, no matter waht - our old OCN could handle thousands of oders per second, and this was old tech on a rack in LD4 running under hyper-V!!
<10:55:15> "B": yes, i had that, worked in my favour so didnt compalin!  lol
<10:56:16> "B": they are more like system overLORDS
<10:56:53> "R": B it's complex, they have to recaculate every open position when anyone takes a position or the price moves at any time
<10:56:57> "R": its one massive mutex
<10:58:59> "G": they have to, or they decide to, sound like ur reciting from the official bitmex press release
<10:59:24> "B": R, i worked with our old head dev, russian guy who co-wrote this old exchange and he broke down how it works and trust me they shoud be able to handle it, even my mobile phone can handle their orders probably.
<10:59:52> "R": im not sure you do undertstand
<11:00:03> "R": they have a blog post or two on it if you care to have a read
<11:00:36> "R": the way they insure the risk attribute etc seems unique
<11:00:41> "B": mate i do understand thats the problem
<11:00:51> "R": ok mate sorry i wasnt trying to be rude 
<11:00:53> "K": R There are ways that they are able to shed their load and manage the overlaods./ It's just that THEY DO NO HAVE AN INCENTIVE TO FIX IT
<11:01:10> "R": I agree they may not have an incentive, i am just stating its not a simple problem
<11:01:23> "R": and imo its not something easy to parallelize
<11:01:34> "R": (in their current implementation)
<11:01:46> "A": think about it, bitmex never had overload problems in 2018 when the price was going up
<11:01:48> "B": and they could do that yes
<11:02:01> "K": R No one said it was a simple problem, it's just that the know-how and technology is already here and easily accessible to FIX said PROBLEMS
<11:02:05> "B": yep this is true
<11:02:16> "A": 2017 December and bitmex was fine
<11:02:23> "R": if you have one giant mutex that you need to be atomic and have to update each tick its a mare
<11:02:31> "K": 2018 up to around Jan/Feb was ok on bitmex...
<11:02:36> "R": what they should have done was responsibly stop new signups
<11:02:42> "R": but arthur is a cunt so would never
<11:02:45> "K": Ever since they fked everyone's API limits and then delisted a bunch of alt contracts
<11:03:00> "R": i honestly think their DB jsut gets vertically scaled on EC2 atm
<11:03:16> "R": everything will be in RAM on one box i bet you
<11:03:43> "K": But Okex doesn't follow it as well @ G
<11:03:52> "K": the good ol' woodchipper 
<11:05:33> "A": I suspect bitmex overload is paying for Hong Kong office
<11:05:55> "R": have a plan
<11:05:59> "R": overload no issue
<11:06:07> "R": unless u doing 5min bullshit
<11:06:29> "K": dude the office is bare-bones and empty lol
<11:06:50> "R": i'd rather be on the fucking beach in the seychelles

don't @ the messnger

[1714249855]

1714249855

[1714249855]

1714249855

[1714249855]

1714249855

[1714249855]

1714249855

[sirsplashalot]

So kiddy’s what’s the big btc news for 2019?

Removing the miners incentive to mine and destroying the whole Bitcoin economic model, completely ignoring the last line of the introduction in the whitepaper?

Lightning network 3rd party off-chain payments from a capitalist model to socialist model?

BLiquid Sidechain central banking?

Bakkt hype (Bakkt is literally NOTHINH special or new).

Jimmy Song gets a new hat?

Going to need a goddamn miracle to get out of this bear market when a miners future has gone for BTC.

[Ibian]

we have the power to make the world what we want it to be and we should use that power.

Tell us why you are better off because the dodo and the passenger pigeon are extinct. Actually on second thought, don’t.  

It is impracticable as well as impossible to keep every species that ever existed or will exist alive, that is just a fact. That was not even remotely my point, I shouldn't have to tell you my point if you reread my post and comprehend it.

The whole argument is a fallacy, it doesn't matter if its man made or not. we have the power to make the world what we want it to be and we should use that power. It's natural for species to become extinct, should we not do anything and become extinct because its natural? Terraforming the world is a natural advance of any civilization if it wants to survive, it is no different than protecting that world from space born objects.

As an argument this picture makes a good case...1 species vs billions of species..some days I buy this argument more than others

Be the change you want to see in the world.

[BitcoinGirl.Club]

Why #bitcoin will not drop under $2k:
1) Miners already capitulated (difficulty -25% Nov/Dec)
2) Too close to the Halving (14 months)
3) BTC never dropped below geometric mean ($2750)
4) BTC never dropped below 50% of stock-to-flow model ($5500)
5) RSI bottomed at (42) now rising

https://twitter.com/100trillionusd/status/1102958785772044289?s=21

God bless you my brother

[sirsplashalot]

Why #bitcoin will not drop under $2k:
1) Miners already capitulated (difficulty -25% Nov/Dec)
2) Too close to the Halving (14 months)
3) BTC never dropped below geometric mean ($2750)
4) BTC never dropped below 50% of stock-to-flow model ($5500)
5) RSI bottomed at (42) now rising

https://twitter.com/100trillionusd/status/1102958785772044289?s=21

Where do you mention trading volume? You realize there’s no one new coming into this market? It’s all you guys trading a bleeding market. You’ve names 5 reasons why BTC shouldn’t go below $2000, now explain 5 unique reasons why BTC should go above $5000.

[Ibian]

Why #bitcoin will not drop under $2k:
1) Miners already capitulated (difficulty -25% Nov/Dec)
2) Too close to the Halving (14 months)
3) BTC never dropped below geometric mean ($2750)
4) BTC never dropped below 50% of stock-to-flow model ($5500)
5) RSI bottomed at (42) now rising

https://twitter.com/100trillionusd/status/1102958785772044289?s=21

Where do you mention trading volume? You realize there’s no one new coming into this market? It’s all you guys trading a bleeding market. You’ve names 5 reasons why BTC shouldn’t go below $2000, now explain 5 unique reasons why BTC should go above $5000.

Supply and demand. That's it.

[El duderino_]

Why #bitcoin will not drop under $2k:
1) Miners already capitulated (difficulty -25% Nov/Dec)
2) Too close to the Halving (14 months)
3) BTC never dropped below geometric mean ($2750)
4) BTC never dropped below 50% of stock-to-flow model ($5500)
5) RSI bottomed at (42) now rising

https://twitter.com/100trillionusd/status/1102958785772044289?s=21

Where do you mention trading volume? You realize there’s no one new coming into this market? It’s all you guys trading a bleeding market. You’ve names 5 reasons why BTC shouldn’t go below $2000, now explain 5 unique reasons why BTC should go above $5000.

via Imgflip Meme Generator

Every day you read Unique reasons everywere in the world and where you want.... but^

Btw we have trolls in here don’t join them

[empowering]

................. when you get that feeling

[El duderino_]

God bless you my brother

God bless ..... the copy paste

Credit doesn’t go to me to often, but sharing = caring

[El duderino_]

https://twitter.com/sumthgsumthgbtc/status/1105863255438868481?s=21
^
This is being in the ZONE ??

[nutildah]

Btw we have trolls in here don’t join them

Too late for that one I believe. He's sour that the entire BSV thread is me and him arguing over whether CSW is Satoshi. Guess our respective sides...

God bless ..... the copy paste

Credit doesn’t go to me to often, but sharing = caring

Its arguable that quality content curation is also a skill.

[El duderino_]

via Imgflip Meme Generator

Aaaaaand one for XhomerX

[bitcoinPsycho]

Why #bitcoin will not drop under $2k:
1) Miners already capitulated (difficulty -25% Nov/Dec)
2) Too close to the Halving (14 months)
3) BTC never dropped below geometric mean ($2750)
4) BTC never dropped below 50% of stock-to-flow model ($5500)
5) RSI bottomed at (42) now rising

https://twitter.com/100trillionusd/status/1102958785772044289?s=21

Where do you mention trading volume? You realize there’s no one new coming into this market? It’s all you guys trading a bleeding market. You’ve names 5 reasons why BTC shouldn’t go below $2000, now explain 5 unique reasons why BTC should go above $5000.

Your bitterness is plain to see. swap some Of your failing Alts (all of them)for BTC before you loose  everything and become another roach

[El duderino_]

Btw we have trolls in here don’t join them

Too late for that one I believe. He's sour that the entire BSV thread is me and him arguing over whether CSW is Satoshi. Guess our respective sides...

God bless ..... the copy paste

Credit doesn’t go to me to often, but sharing = caring

Its arguable that quality content curation is also a skill.

Yeah also once a troll always a troll i guess ..... and thats something i know CSW isn’t satoshi

THX, and its good to see Some discussions coming out of it by Some knowledge-able members in here
Always win-win situation

[El duderino_]

Holy fuck dude nice jump !

Haha it was indeed, did it like 7 times for Some cool pics and the Fun of it, my GF wasn’t not up for it, but its damn high when standing there and especially when its a long time i did such a thing.

But sometimes we have to do Some crazy shit, BTC isn’t giving me the adrenaline shots that i need, there is no poker for BTC playing @ the moment

So a man gotta do something

[BitcoinGirl.Club]

"Abra Wallet CEO Suggests the Only Real Use Case for Bitcoin Currently"

“No other use for BTC at the moment”

I disagree! I regularly spend bitcoins to shop and I also get my salary in bitcoins. WTF is wrong with this guy? Parheps there is a reason that I never heard about Abra Wallet/app.

Apart from Bitcoin, the wallet supports ETH (native integration), BCH and LTC.

This f**k do not care about Bitcoin, he cares for money. Notice bCash scam.

https://u.today/forbes-abra-wallet-ceo-suggests-the-only-real-use-case-for-bitcoin-currently

[Last of the V8s]

https://twitter.com/ProfFaustus/status/1106110476268830720

otherwise mildly interesting reminder thread from Pouliot, who seems to have been born yesterday

[Findingnemo]

via Imgflip Meme Generator

Every day you read Unique reasons everywere in the world and where you want.... but^

Btw we have trolls in here don’t join them

Its okay to be selfish sometimes.

[NeuroticFish]

Aaaaaand one for XhomerX

Maybe uninvited to the party, but hey...
This is a Bitcoin ATM @ Iulius Mall Timisoara

[El duderino_]

Ain’t gonna hold you Guys up no more

Time to prepare myself for a well earned

HODLsleep, it was an exhausting day..... @jjg get the troll