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

[billyjoeallen]

Got to be said.......Varoufakis... has got more front than Brighton beach.

Balls the size of watermelons.

(and he really does look and sound like a bond villain)

I know economics. From my vantage point, he's not a bond villain or Jesus or Inspector Cluseau. He's an idealist as only an academic can afford to be (wink, wink, Jorge). It's this idealism that will be his undoing and unless he discovers his inner sociopath, he will get the blame for the Grexit.  He is full of intellectual hubris but he underestimates how truly viscous and evil his opposition is.

I hope I'm wrong, but I think he's fighting monsters and is ill-equipped to do so. Of course if by some miracle he triumphs, he will almost certainly become a monster himself. The world doesn't need another socialist martyr. I hope he doesn't become one.

[billyjoeallen]

Looks like the bulls are prepping for an assault on the $245 wall. I think there might be some hidden resistance, so I'm gonna wait for the bears to soften up a little.

Not much left on btc swaps...

I'm not worried about short-sellers. In fact, I'm counting on them. What I'm worried about is bulls taking profits too soon and letting them off the hook.

ok well this is the weaksauce of the gimpyest 'short squeeze' ever ..... get ready to get smash dumped on .

Patience, Grasshopper. I'm not hoping for a short squeeze nor do I want to see one, although I'm going to capitalize should it occur. Bitcoin doesn't need that kind of volatility. It doesn't need another bubble. It needs stability and sustainable growth. We are the decentral bankers. We're not here to get rich quick. We're here to eat volatility and give the world a real alternative to chains.

[aztecminer]

Can someone explain this shit to me. The price looks stable. Then someone buys ~600 BTC on Bitstamp. Then OKCoin crashes. Why?

maybe just coincidence?

Looking at it closer, the Bitstamp buy may have been just a panic buy because of the OKCoin upswing and perhaps didn't affect it too much.

I have a gut feeling with nothing to back it up. Before I explain it, I should preface by saying that my gut feelings are often wrong and this should not be construed as trading advice or as an indication of my book, but here goes:

I think someone big missed the train. A whale or whales swimming deep in the order book were gonna catch the bottom of the CB dump, but only got a piece of it, not the control they were expecting. Now they could short on margin and tried to catch up, but they know how dangerous that would be, to risk a margin call. So they got desperate. Crashed a half dozen exchanges that they had previously compromised. Price fell, but not nearly enough to regain control. Now their only hope is jawboning the market lower, hacking/cracking where they can and FUD. They are waiting for the minnows to screw up, dump and give the market back to them.

It's just a gut feeling. 

[camolist]

jameson was involved in the first 132.79585631 purchase

no alcohol involved in the second purchase

go big or go home

[billyjoeallen]

jameson was involved in the first 132.79585631 purchase

no alcohol involved in the second purchase

go big or go home

Geez, the USD swap rate is getting up there. Slow your roll, Camo. That's a perfectly reasonable purchase, but we need to consolidate in this range for a while before the assault on $250. If we get much higher, take some profit and get back in 4 or 5 dollars lower.

[Chef Ramsay]

6 digit buy is nothing I'd involve w/ Bacardi like your Jameson but I respect your confidence at this point. You must've had just a drink or two, aka nothing too far against reality and into the ozone layer at the time.

[ChartBuddy]

Coin
Explanation

[camolist]

Geez, the USD swap rate is getting up there.

i have 30 days locked in at 0.029% that swap fee is for several days now. less than 1% a month not bad IMO

[Richy_T]

This is why it is so fascinating. The most logical thing for them to do is to default HARD on that debt, start from a clean slate, and we will all be vacationing in Greece next year due to the affordable prices. The Greeks are already in the worst case senario, it can't get much worse economically - the only place where it can get worse is that the Greke population may take a haircut on their savings by converting to Drachmas. If I was in charge of Greece, and I was brave enough, I'd default.

That would be the logical thing to do. Unfortunately for Greece, their politicians got in on pledging to end austerity. Which means more spending which means more borrowing. Something has to give. They can't even inflate their way out of it *and* remain in the Euro. It won't be pretty. Though if it ends with everyone fleeing the Euro, that would be a good thing.

[billyjoeallen]

It's Lent in the Cajun swamp so no booze for me. I'm watching Atlas Shrugged part III on DVD and smoking a e-cig.  I'll have to save the hookers and blow for the next ATH.

[Afrikoin]

[ChartBuddy]

Coin
Explanation

[bassclef]

jameson was involved in the first 132.79585631 purchase

no alcohol involved in the second purchase

go big or go home

Geez, the USD swap rate is getting up there. Slow your roll, Camo. That's a perfectly reasonable purchase, but we need to consolidate in this range for a while before the assault on $250. If we get much higher, take some profit and get back in 4 or 5 dollars lower.

Get one like that right and you'll be financially set for a few months. And with a strong margin you can essentially wait for the market to come to you and ignore the small moves and shakeouts. With a couple large crashes in the background going long and waiting it out is not a bad option. (Assess your risk first, as always, and don't be dumb about it... learn how to read the market... and don't risk the farm if you're only playing with a couple chips.)

Enjoying some Corbières wine, watching the price inch slowly upwards...

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

It's Lent in the Cajun swamp so no booze for me. I'm watching Atlas Shrugged part III on DVD and smoking a e-cig.  I'll have to save the hookers and blow for the next ATH.

Saving the hookers and blow till after lent is a very Christian thing to do. God Bless

Maybe not, but its a very Acadian thing to do.

[ErisDiscordia]

STOP ARGUING WITH PORKCHOPS!!!

Isn't it amusing that the Freedom Loving ancap bitcoiners post mainly to command other users to ignore and don't reply to this and that? 

(Myself, I can ignore people on my head.  I don't see why one needs a computer to do that.)

at least no one gets thrown into jail and fined for ignoring this suggestion 

[billyjoeallen]

STOP ARGUING WITH PORKCHOPS!!!

Isn't it amusing that the Freedom Loving ancap bitcoiners post mainly to command other users to ignore and don't reply to this and that? 

(Myself, I can ignore people on my head.  I don't see why one needs a computer to do that.)

at least no one gets thrown into jail and fined for ignoring this suggestion 

I'm not sure the good professor can appreciate the distinction. Bitcoin vs. fiat is a battle of persuasion vs. force. It's a battle in the war for civilization. Yes, we are vastly outnumbered radicals, but so were the Abolitionists and they did pretty well. I'd rather be on the wrong side of a trade than on the wrong side of History.

[ChartBuddy]

Coin
Explanation

[Fatman3001]

STOP ARGUING WITH PORKCHOPS!!!

Isn't it amusing that the Freedom Loving ancap bitcoiners post mainly to command other users to ignore and don't reply to this and that?  

(Myself, I can ignore people on my head.  I don't see why one needs a computer to do that.)

at least no one gets thrown into jail and fined for ignoring this suggestion  

I see the Esteemed Honorable Professor is attacking straw men again. The academic integrity of this man fills me with awe.

Edit: BTW, if you have people on your head you shouldn't ignore them. You have a job to do, get licking!

[billyjoeallen]

Even with the benefit of hindsight, there's only been two good entry points in the last week (Feb 15 and Feb 18). Kinda makes you wonder how much cash is sitting on the sidelines waiting to buy the next dip.