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

[Cconvert2G36]

I'm waiting for +50% of the posts to be someone else than me, lambie, stolfi, LFC and BJA.

Then I will go into full retard bull mode.

I usually consider a higher concentration of bubble drunk moon kids to be an inverse indicator.  

over 3/4 Million new USD longs. Over 2,000 new BTC shorts on BFX.  That's very little safety net when this rally stalls out.  

~23 Million in margin longs that got to cover on the way up.  Only 14,000 in shorts total to cover to halt a crash.

We're going somewhere, either up or down. But hanging out on a cliff edge is not going to last.

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

[billyjoeallen]

Lifting the 21 million limit will happen if the miners see it as being more profitable than the alternative. Oh, just by a little, and there will be plenty of rented experts to explain that the change is actually good for bitcoin...  (But we have been through this discussion before...)

Every government wants to have a strong and stable currency; but some of them end up printing lots of money to cover their expenses, even though that hurts the currency.  When the US government created the dollar, it promised to back each bill in gold or siver; but it eventually reneged on that promise. I don't see why the promises of the bitcoin protocol -- that were made by humans, and depend on humans honoring them -- will have a different fate.

So you don't see how force is different from persuasion?  The monopoly government's can mandate use of their scrip. We have neither their ability to coerce nor their perceived legitimacy. If the 21 M cap is lifted, the market will reject bitcoin and I will be among the first to divest myself entirely.  The markets regulate better than States do.

[JorgeStolfi]

https://en.wikipedia.org/wiki/Wizards_%28film%29
By the guy who also did https://en.wikipedia.org/wiki/Fritz_the_Cat_%28film%29

Thanks!  (I watched his Lord of the Rings, but not that one.)

[Wekkel]

Looks a bit toppy short term.

[billyjoeallen]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

[nioc]

I'm waiting for +50% of the posts to be someone else than me, lambie, stolfi, LFC and BJA.

Then I will go into full retard bull mode.

happy to oblige. today I saw a vanity license plate that said TEAMBEAR

[peonminer]

Top out now, or 6AM cst Monday? ?? 310 crash, here we gooooooo

[ChartBuddy]

Coin

Explanation

[Patel]

Looks topped out, but I think we will see red candles going sideways, then back up.

I don't think it will go lower than 270

[Fatman3001]

happy to oblige. today I saw a vanity license plate that said TEAMBEAR

Sounds like tarmi. Was it a Yugo?

[molecular]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

Wait... are you saying you've had a long position open for how long?

[JayJuanGee]

Can we get a new price poll for a specific date please? The current poll doesn't really say anything, because nobody knew what the target date was.

The current poll is confusing because nobody expected the Chinese exchanges to be $10 higher than all the others for the last month. $300 got broken ages ago on the Chinese exchanges, and the others are still in the $290s. Should the next poll ask us to guess the averaged price across all exchanges, or the highest price on any, or another option?

Bitstamp is the default price talking point, unless specified otherwise.      

[billyjoeallen]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

Wait... are you saying you've had a long position open for how long?

Of course not. The bounce after the last $316 top.  Quintupled down after the bottom and closed with a profit at about $235.  All this $2-300 range trading is just noise until we get this blocksize issue resolved.

[natewelt]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

Wait... are you saying you've had a long position open for how long?

Of course not. The bounce after the last $316 top.  Quintupled down after the bottom and closed with a profit at about $235.  All this $2-300 range trading is just noise until we get this blocksize issue resolved.

Oh it all makes sense now...

[Dilla]

^yup. Someone is just sour.

[billyjoeallen]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

Wait... are you saying you've had a long position open for how long?

Of course not. The bounce after the last $316 top.  Quintupled down after the bottom and closed with a profit at about $235.  All this $2-300 range trading is just noise until we get this blocksize issue resolved.

Oh it all makes sense now...

closed my MARGIN long. I was still 100% long until the $260s...

[BitofaN1]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

[billyjoeallen]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

[ChartBuddy]

Coin

Explanation

[BiteMyShinyMetalAss]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

Hahahaha! True! Its a shame they get BTC money. So shameless! Like selling cocaine...