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

[Erdogan]

Yuan devaluation does nothing. Bitcoin is its own kind 

I wondered about that too. The yuan price of btc should go up, relative to the dollar price of btc.

[Ezmoneyezlife]

Yuan devaluation does nothing. Bitcoin is its own kind 

I wondered about that too. The yuan price of btc should go up, relative to the dollar price of btc.

It did, check okgox, it has spiked 40 yuans in last few hours. Funny to watch how people consider this as a pump trying to panic buy on western exchanges.

[ChartBuddy]

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[Wary]

Silence for 5 hours straight. Interesting. Where's everybody?

Don't you know yet? Bitcoin is dead. When leaving turn the lights off

[cyclotronmajesty]

Gerald Celente predicting a global stock market crash in 2015:

http://theeconomiccollapseblog.com/archives/gerald-celente-is-predicting-that-a-stock-market-crash-will-happen-by-the-end-of-2015

http://kingworldnews.com/gerald-celente-just-predicted-a-global-stock-market-crash-and-gave-the-exact-time-frame/

[sAt0sHiFanClub]

Yuan devaluation does nothing. Bitcoin is its own kind 

I wondered about that too. The yuan price of btc should go up, relative to the dollar price of btc.

ts not really being devalued. They are merely changing the rules they use to decide where it trades. Todays rule is to fix based on where it closes in the previous days trade, which is effectively 'unpegging' from the dollar because previously the midpoiint for this trading band was dictated centrally,  and not by the market.
 
The yuan has been, and remains, woefully undervalued against the dollar. If it were allowed to trade freely, it would probably gain as much as 20% on the dollar in a short period of time.

You need to read into the articles to get the truth here. They all headline the \devaluation' but play down this fundamental change to how they value the yuan. Take the guardians coverage http://www.theguardian.com/business/2015/aug/11/china-devalues-yuan-by-2-to-boost-flagging-economy

You need to go to the very end to get this nugget:

The devaluation may be an attempt to make trading more open and market-based, observers said.

“I don’t think this is a reaction to the weak trade data over the weekend, I think it’s because of the SDR,” said Zhou Hao of Commerzbank in Singapore.

“They need to have a market-based mechanism and they need volatility.”

[ChartBuddy]

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[ChartBuddy]

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[Auxi]

At least Finex's bid wall won't remain frozen for as long as this one. (700 million years  )

this is spaarrtttaaaa

[bitsat alien]

I don't think August is going to be a very exciting month - expect the longer term measures of stability to get even higher.

[abercrombie]

Silence for 5 hours straight. Interesting. Where's everybody? Nobody trading this time of the day?

is crypto done??

[MilkyLep]

is crypto done??

Wow, he's starting to change it up a little.

[Erdogan]

I am long. Just wanted to say it. It is easy to be a trader when you have a crystal ball that works.

[ChartBuddy]

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[simmo77]

<Snip more NLC crap>

Must be a pain in the arse to create another new email account, register a forum account, confirm it, setup prefs and stupid avatar, etc etc etc... only to immediately blow your cover by posting the exact same crap with the same obvious calling cards (fonts, language, fuckin' horsies ffs, etc) and everyone just ignores the account straight away.

What a hollow existence.

[rebuilder]

<Snip more NLC crap>

Must be a pain in the arse to create another new email account, register a forum account, confirm it, setup prefs and stupid avatar, etc etc etc... only to immediately blow your cover by posting the exact same crap with the same obvious calling cards (fonts, language, fuckin' horsies ffs, etc) and everyone just ignores the account straight away.

What a hollow existence.

You'd think so, right? Alternatively, this is someone with sufficient motivation to automate all that. Not sure which is crazier, though.

[eerygarden]

I don't think August is going to be a very exciting month - expect the longer term measures of stability to get even higher.

Well we have ranged between 284-260 so far already this month. I guess it's fairly stable, but I wouldn't say super stable.

[Shunak]

I love finex walls: https://bfxdata.com/orderbooks/btcusd

[billyjoeallen]

The drop of the Dollar peg for the Yuan is an escalation in  the global currency wars where every country tries to export its way out of recession at the same time- which is of course impossible. 

What is notable is that the world economy is so screwed up by endless fiat money printing, neomercantilism and Keynesian economics that our wildly volatile experimental currency is being increasingly seen as a safe haven asset.

[ChartBuddy]

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