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

[seriouscoin]

and you can lend coin or cash sitting in your account to traders for 10-30% return per month.

How safe is that money? How is repayment enforced? I still haven't gotten around to looking into Bitfinex.

The money is only used for margin accounts so they can force close any open positions with a margin call if th margin balance goes too low. Bitcoin is loaned for shorters, cash for long positions. I haven't lent any money myself but have borrowed plenty. I guess you can pay part of your percentage return into an insurance pool so that if there is a catastrophic market crash and they can't close margin positions fast enough, then you would be covered of any potential loss.

It's great as a trader though because they offer 2.5:1 leverage (or 4:1 if you're grandfathered in) so you can stretch your money a bit farther on fast trades. The exchange is linked to Bitstamp so you can trade on Stamp for .35% or Finex for .15% or less depending on volume.

is there a limit in term of amount?

Can a node like reptileman turn into a supernode? 10k btc?

[1714533062]

1714533062

[1714533062]

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[deadfi$h]

The only thing that worries me is the possibility of a straight shot to the moon.

It is the most frightening thing that exists. It keeps 90% of my coins off the exchange.

I'm showing moderate growth in my exchange account, but not enough to merit the risk of being light on bitcoin when this thing erupts...

I don't understand this mentality. A jump to any sort of high level of price is going to take days and weeks and months. Why not ride it up when it's going up and down when it's going down? There's always time to jump back in.

If you don't have the time or desire to pay close attention to the markets, then buy and hodl can be a decent strategy. I don't know, it just makes me nervous going to sleep with a trade open.

I'll try to explain.

I'm in a bit of an awkward position. I live in Canada. I'm a miner. The only reliable withdrawl method I've found is cavirtex. They charge me 1.5% per trade, so if I try to trade too close to the edge, I will get burned.

However, the fiat withdrawls are fast (1 or 2 days) and directly into my bank account; the withdrawls also incur only a flat 6 dollar fee. So, I guess I'm trading as more of a hedge than an opportunity.

A miners life for me  

Why don't you trade elsewhere and only send coins to Virtex when you want to exit that position permanently? I mainly trade on BTC-E, paying .2% commission. 1.5% is crazy!

cuz you're fucked if you don't get the trade right.

i do the same thing, i eat the 1.5% fee because if i get knocked out, at least i can withdraw with ease and comfort

i guess you can wait until the spread between btc-e and virtex is tight and use BTC to transfer the funds.... is it that headache worth 1.3% , not to me.

I used to send my money to campbx, this small exchange located in Atlanta.  They'll take a money order for free which is pretty cool and then buy coin and send it to Bitfinex. For awhile there, the spread was +10% in my favor all the time. It's basically even now though.

[shmadz]

The only thing that worries me is the possibility of a straight shot to the moon.

It is the most frightening thing that exists. It keeps 90% of my coins off the exchange.

I'm showing moderate growth in my exchange account, but not enough to merit the risk of being light on bitcoin when this thing erupts...

I don't understand this mentality. A jump to any sort of high level of price is going to take days and weeks and months. Why not ride it up when it's going up and down when it's going down? There's always time to jump back in.

If you don't have the time or desire to pay close attention to the markets, then buy and hodl can be a decent strategy. I don't know, it just makes me nervous going to sleep with a trade open.

I'll try to explain.

I'm in a bit of an awkward position. I live in Canada. I'm a miner. The only reliable withdrawl method I've found is cavirtex. They charge me 1.5% per trade, so if I try to trade too close to the edge, I will get burned.

However, the fiat withdrawls are fast (1 or 2 days) and directly into my bank account; the withdrawls also incur only a flat 6 dollar fee. So, I guess I'm trading as more of a hedge than an opportunity.

A miners life for me  

Why don't you trade elsewhere and only send coins to Virtex when you want to exit that position permanently? I mainly trade on BTC-E, paying .2% commission. 1.5% is crazy!

cuz you're fucked if you don't get the trade right.

i do the same thing, i eat the 1.5% fee because if i get knocked out, at least i can withdraw with ease and comfort

i guess you can wait until the spread between btc-e and virtex is tight and use BTC to transfer the funds.... is it that headache worth 1.3% , not to me.

Well said. Also, the high fees give virtex a substantial incentive to pull no shenanigans. Top quality exchange, though a bit small. That btc-e place always gives me the heeby-jeebies when my position grows too large.

[deadfi$h]

is there a limit in term of amount?

Can a node like reptileman turn into a supernode? 10k btc?

Haha, I don't know. I only trade a very small fraction of that. I guess it's limited to how much lending capacity the community has at any one time.

[MAbtc]

Anybody who thinks they have a read on this market better have access to some specific data --> actual cash inflow/outflow into and out of all exchanges, actual volume of off exchange purchases, prototypes and development stages of current bitcoin eco-system products and apps, pending announcements from large retailers, specific EFT approval status, miner sentiment, just to name a few.

If you don't have access to these data points, then you are GUESSING right now not trading. And if you are trading the swings you better have trailing stops.

I get what you're saying. The first two data sets are clearly impossible for virtually anyone to attain. The rest seems to be a claim that fundamental analysis is the only proper analysis. This is obviously at odds with basic premises of technical analysis (e.g. that underlying fundamental factors are reflected in price/volume trends). To each his own, I guess.

[seriouscoin]

...It's going down, I'm yelling timberrrrrr.....

[Davyd05]

...It's going down, I'm yelling timberrrrrr.....

http://www.youtube.com/watch?v=W55f3l61AHY

This is the only reason I like the song..it signifies cheap coins... lol but what do I care I'm full btc right now

[deadfi$h]

Looks like we got our dead cat bounce on Huobi. If it breaks south of 4865 this could get real interesting.

[Davyd05]

or a double bottom for the last 3days

http://www.reddit.com/r/Bitcoin/comments/1venja/want_to_buy_silk_road_seized_coins/

whose in for an after auction party

[windjc]

Looks like we got our dead cat bounce on Huobi. If it breaks south of 4865 this could get real interesting.

Similarly, as Gox has a 10%+ premium because of its withdraw issues, I think Houbi and other Chinees exchanges should, theoretically, be trading at BELOW the other exchanges given fears of closure, etc.

It would be nice if China would just trail the other exchanges by a -10%+. Maybe then we could just move on from the silliness.

[virtualfaqs]

wow.... anyone see that mtgox $900 wall got pulled or some glitches?

there was a sale bellow $900 when the wall wasnt even touched  

PS : its 2.10 btc at $898..... how the fck that happened? None of the bids above $900 and at $900 was even touched

Yea I just got back. How did that happen? I through the wall was lifted and then put back just for that sell order.

[seriouscoin]

wow.... anyone see that mtgox $900 wall got pulled or some glitches?

there was a sale bellow $900 when the wall wasnt even touched  

PS : its 2.10 btc at $898..... how the fck that happened? None of the bids above $900 and at $900 was even touched

Yea I just got back. How did that happen? I through the wall was lifted and then put back just for that sell order.

No it must be a glitch..... thanks to shitty order matching of Gox.

[ChartBuddy]

Explanation

[RandyMagnum]

Well, I'm officially tired of trying to draw support lines this week.

[Davyd05]

Well, I'm officially tired of trying to draw support lines this week.

why we barely crossed the 2 that exist.. I just wish we'd go to 870 again already...

side note or back track...the wall at 900 is just being pulled when it has a chance to be bitten..

[virtualfaqs]

Well, I'm officially tired of trying to draw support lines this week.

why we barely crossed the 2 that exist.. I just wish we'd go to 870 again already...

side note or back track...the wall at 900 is just being pulled when it has a chance to be bitten..

It's 48 BTC away. I think it's real otherwise it would be pulled already.

[MAbtc]

Needs some time for confirmation.

12 hour:


4 hour:

[virtualfaqs]

So who here wants the Mtgox 900 wall to be chewed up and who wants it to stay? 

I say Chew it up! 

[Davyd05]

So who here wants the Mtgox 900 wall to be chewed up and who wants it to stay?  

I say Chew it up!  

it was at 1000 coins earlier. like when it was trading at 915-930.. as soon as we went under 910 it lost most of its support.. it is asking for munching tho

and there is some munching

[PoolMinor]

Well, I'm officially tired of trying to draw support lines this week.

Me too!