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Question: When ATH?
Nov. 2020 - 47 (36.2%)
Dec. 2020 - 43 (33.1%)
Jan. 2021 - 14 (10.8%)
Feb. 2021 - 5 (3.8%)
Mar. 2021 - 5 (3.8%)
After Mar. 2021 - 16 (12.3%)
Total Voters: 130

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 24502589 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. (153 posts by 40 users deleted.)
rolling
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October 01, 2020, 04:48:19 PM

Re bitmex.
It's like 2013 and the Silk road bust, which made btc acceptable for hedge funds to invest.
Now, to make it 'investable' for 'serious' institutions (or MAYBE even countries) bucket shops like bitmex with 100X leverage had to be at least slowed down if not impaired.
I know that people love to play with margin, but there is ledgerX in US (should get more business as a result).
Not sure if Deribit will also be 'punished' at some point.
Whether or not this is 'good' or 'bad'-time will tell.

I think Deribit charges are soon to follow. Not everyone is aware yet of why the market is tanking right now. Expect further drops as the news circulates.

I wonder how many BTC are going to be stuck on their platform and for how many years?
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Last of the V8s
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October 01, 2020, 04:50:34 PM
Merited by 600watt (2)



aka the crime of sneering at a banana republic

go after them for rigging the market, a true crime? nah
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October 01, 2020, 04:51:01 PM

Prepare the fiat cannons! This is the kind of dip I can get behind

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October 01, 2020, 04:52:43 PM

Not your keys Not your coins.
Personally I dont know why people are selling?
Just take your BTC off the exchange.
Or do most people using Bitmex dont have personal wallets?
What gives?
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October 01, 2020, 04:54:41 PM

https://twitter.com/stephendpalley/status/1311694266389929986

Quote
BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

Who is this Hayes character??
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October 01, 2020, 04:58:26 PM

https://twitter.com/stephendpalley/status/1311694266389929986

Quote
BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

Who is this Hayes character??

you are kidding, right....he is one 'smart-ass' guy wearing jobs-style turtleneck (has kind of super huge mouth/smile).
look for pics with sunglasses (Alps?)
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October 01, 2020, 05:07:36 PM

https://twitter.com/stephendpalley/status/1311694266389929986

Quote
BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need
BitMEX CTO got arrested.
(etc...)

Smooth move.

I have noticed that many sites nowadays ban Americans together with the slaves “citizens” of other notoriously “free” countries, such as the Democratic People’s Republic of Korea.

I always get a laugh when I see the United States on one of those “rogue state people, go away” TOS lists.  Too bad—it must pretty much suck for any sane individual Americans and/or North Koreans.
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October 01, 2020, 05:13:32 PM
Merited by 600watt (2), JayJuanGee (1), maldini (1)

BitMEX CTO got arrested.

Mex users on the brink of panic (i am) - if they arrest one more mex gonna likely lose access to their multisig wallet lol...

Traders unwinding their position to leave bitmex could make crazy swings in the spot market.

Well, you are not the only one.
Apparently they hold 193K BTC in their wallets!


Quote
Bitmex has ~$2b worth of Bitcoin in their vaults (around 193k BTC) Flushed face



https://twitter.com/nic__carter/status/1311706827982360576?s=20


Apparently it's a 3 of 4 setup, so yes, one more arrest and those coins are gone (not really, but you got that one)



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October 01, 2020, 05:14:27 PM

https://twitter.com/stephendpalley/status/1311694266389929986

Quote
BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

Who is this Hayes character??

you are kidding, right....he is one 'smart-ass' guy wearing jobs-style turtleneck (has kind of super huge mouth/smile).
look for pics with sunglasses (Alps?)

The joke was real indeed  Tongue
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October 01, 2020, 05:21:41 PM
Merited by Karartma1 (1)

snip
First of all, congrats. This is probably the most important post I have seen on the matter since a while. And you reminded me of this epic Andreas talk in Milan 2016 where those guys you mentioned (consultants from Deloitte, KPMG PwC etc.) were completely gobsmacked by that speech, that of course they couldn't understand!
https://www.youtube.com/watch?v=mRQs9Y6CUSU&feature=emb_logo

Yes.  Very nice reminder Karartma1... I may have seen that previously, but I am not sure, so it was good to watch it again.  I started to listen at a faster speed, but the content was so good that I had to slow it down to 1x (maybe it was just my brain is getting MOAR slower). 

In any event, a great youtube link to another moving presentation from Andreas that puts a lot of bitcoin paradigm shifting consideration matters into an interesting and relatively concise perspective in a bit over 30 minutes.
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October 01, 2020, 05:23:09 PM

The more coins locked-out for a long time, the better. Right ? Grin
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October 01, 2020, 05:29:15 PM
Merited by JayJuanGee (1)


https://twitter.com/WhalePanda/status/1311718980206329856

9am Eastern = 1pm UTC = 2pm London

https://countingdownto.com/?c=3245384 lol
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October 01, 2020, 05:30:06 PM


#hodlerisunaffected


#dyor
1h



4h

#stronghands
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October 01, 2020, 05:32:33 PM
Merited by JayJuanGee (1)

Not your keys Not your coins.
Personally I dont know why people are selling?
Just take your BTC off the exchange.

Good point.

I suppose that now, we get to see how many traders on Bitmex and other exchanges are just in it to stack more dollars, and don’t give a hoot about Bitcoin.  Those will probably be the ones who panic-sell on the news—regardless of whether or not their own coins are even at risk.

Or do most people using Bitmex dont have personal wallets?
What gives?

Personal Wallet?  Keys?  What’s that?

Apparently they hold 193K BTC in their wallets!
[...]
Apparently it's a 3 of 4 setup, so yes, one more arrest and those coins are gone (not really, but you got that one)

Wow.  It seems somebody forgot the engineering balance between security and availability.  Whereas availability is a security issue.  Locking 193k BTC of Other People’s Money into a wallet that can be lost with the loss of 2 individuals—that sounds like a vulnerability to DOS a fortune!

Do any two keyholders ever travel together?  Perhaps on an airplane?  Are any two keyholders ever in the same room?

Security and availability is another one of those issues that I intended to write about, on the subject of using seed phrases with ostensibly strong passphrases.  Re AlcoHoDL, et al.  Have not yet gotten to it.  In a nutshell:  If you care about your heirs, don’t use passphrases!  Use Shamir’s Secret Sharing to back up secret pieces in some way that mitigates risk of compromise while you are alive, but also has a high probability of surviving your death or otherwise incapacitation.
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October 01, 2020, 05:38:47 PM
Merited by vapourminer (1)

Apparently it's a 3 of 4 setup, so yes, one more arrest and those coins are gone (not really, but you got that one)



Then they have still enough time to update their setup to a 2 of 3.
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October 01, 2020, 05:39:47 PM
Merited by El duderino_ (2)

sure Dabs would be happy to hang on to it for them
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October 01, 2020, 05:40:32 PM

US Treasury Secretary Mnuchin: We Have Reached Agreement On Direct Payments To Americans
https://twitter.com/LiveSquawk/status/1311445259906318342
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October 01, 2020, 05:40:46 PM

I have a feeling, BTC gonna cross 11k once again, Elwar making me more bullish  Grin Cheesy Cool

Yes... of course (well duh), our lil buddy gonna cross $11k, but BIG question seems to be "when?"

Also, is $11k even within any kind of realm of meaningful interest?.. In other words, reaching or breaching $11k to the upside seems to be currently within the realm of mostly noize.

Aren't we more interested in "when" BTC might be crossing its most recent medium term local high of $13,880?  Or getting close to such medium local term high in order to cause such $13,880 to be inevitably crossed?

I am actually thinking that BTC price have to get meaningfully above $13,880 (maybe even supra $15k, or maybe $14,250 would be enough?) in order for us to really get excited about such $13,880 being breached to the upside.
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October 01, 2020, 05:43:27 PM
Merited by vapourminer (1), JayJuanGee (1)

Not your keys Not your coins.
Personally I dont know why people are selling?
Just take your BTC off the exchange.
Or do most people using Bitmex dont have personal wallets?
What gives?

This is because derivatives on mex (in this case futures) can not only be used for degen trading but to hedge positions on spot markets as a risk management tool.

This is usually what big traders do and when they unwind the trade on one side (bitmex) it has implications on the other side (spot market).

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October 01, 2020, 05:45:02 PM

https://twitter.com/stephendpalley/status/1311694266389929986

Quote
BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

Who is this Hayes character??

Crypto Trading Platform BitMEX ‘Attempted to Evade’ US Regulations, CFTC, DOJ Charge
https://www.coindesk.com/bitmex-cftc-enforcement
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