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

[shmadz]

my alarms are going absolutely bonkers. Btc-e it's out of control...

What fun!

[itod]

Whose got fat fingers over at finex?

WTF?

Those are arbitrage bots kicking in, not fat fingers. There's an arbitrage opportunity and they kick in with vengeance.

[ensurance982]

russian bitcoin ban hammer getting closer.

just look how fast profits are leaving btc-e.

soon™.

They are desperate to get out, must have some inside knowledge.
The withdrawn coins will probably be distributed and slightly increase asks / seller pressure on other exchanges.

As dangerous as this may sound - another exchange possibly going down - this still sounds like one of the more reasonable explanations, actually. Crazy price action was also one of Gox's symptoms before closing for good. Hell, even back in October/November 2013 the price on Gox was almost $100 higher than on Stamp, et al.

Any info on BTC-e solvency?

Nah, I don't know... They've always remained very reclusive about basically everything. People don't even seem to know what country they're located in, apparently. I guess we know nothing for sure about them. They were always supposed to be the go-to exchange for illicit activities and liquidating illegally obtained coins - if that's true though... no one knows, either!

Never considered the illicit activity angle but if someone need a few million dollars in BTC for such an activity. BTC-E seems like the only option and it certainly would produce the crazy charts we are seeing today.


Or the exchange is dying.

With 'illicit activities' I was merely considering the possibility that someone could be pulling an inside job at BTC-e or someone hacked the exchange or some accounts in one way or another. Buying coins in order to buy something illegal... Don't know... slow accumulation would make more sense, I guess.

[tarmi]

shorting like a MOFO

[LFC_Bitcoin]

Now this is the kind of action we've been missing.

Pump up to 260.

Come on baby you can do it.

[luckygenough56]

all exchanges are on

[coins101]

Well the bitstamp arbitrage bots are on weed.

They were like, BTC-e up $260? Meh.

[Wandererfromthenorth]

Whose got fat fingers over at finex?

WTF?

Those are arbitrage bots kicking in, not fat fingers. There's an arbitrage opportunity and they kick in with vengeance.

"arbitrage" by buying coins at a ridiculous premium?

[billyjoeallen]

GOT YOUR COINS, MOTHERFUCKERS!!

[ssmc2]

shorting like a MOFO

Yes, we know 

[Fatman3001]

shorting like a MOFO

You've got cojones, I'll give you that.

[podyx]

To the newcomers who haven't experienced anything like this before:

[gentlemand]

shorting like a MOFO

Count me fooking flabbergasted.

[billyjoeallen]

shorting like a MOFO

ON TOP OF 33k SHORTS already on the books? Go for it. I want MOAR COINZ!

[LFC_Bitcoin]

tarmi getting schooled here tbf.

It's been nice knowing you pal.

I'll lend you your rent money at a 15% interest return.

[tarmi]

poor fuckers, I will make a ton of money on you.

[ensurance982]

I gotta ask... Tarmi, palms already sweaty? If your phone is ringing, you know very well who it could be: Margin. This rise doesn't even have to be organic, the mere fact that Finex and Huobi, et al. are following, is causing some nice short squeezes, that could end very ugly for a lot of people bears.

[JorgeStolfi]

Someone at BTC-e is buying like crazy, and arbitragers are buying at other exchanges in order to sell at BTC-e to that desperate guy. 

There are of course many possible explanations for that buying spree.  One of them is: someone realized, perhaps by inside information, that he would not be able to withdraw his USD/EUR/RUB balance; so he is converting it all to BTC, as fast as he can.  If that is the reason, and that hypothetical blockade affects all users, then the arbitragers will be screwed.

[empowering]

Did someone fix my keyboard?

[itod]

Whose got fat fingers over at finex?

WTF?

Those are arbitrage bots kicking in, not fat fingers. There's an arbitrage opportunity and they kick in with vengeance.

"arbitrage" by buying coins at a ridiculous premium?

No, man, arbitrage by buying BTC on Finex and other exchanges, transferring to BTC-E and selling there. That's why other exchanges are "obliged" to follow this BTC-E insanity to some extent, not all the way of course because it's not easy to transfer back from BTC-E to Finex, you have to do it through LTC since there's no way to move US$ fast, which slowly eats the arbitrage opportunity and potential profits.