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

[nioc]

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

[r0ach]

[600watt]

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

congrats! wish i could do the same... 

[doc12]

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

congrats! wish i could do the same... 

Me too, but I dont invest more then I can afford to loose. So no extra BTC for me atm 

[bitebits]

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

High rollers only do business per 1 2 4 blocks a trade  .

Let's start measuring wealth in Bitcoin minutes. You just bought yourself 20 Bitcoin minutes, soon magically mathematically being 40 Bitcoin minutes.
Bitcoin truly is like time travelling in the era of the financial Stone Age.

[r0ach]

Me too, but I dont invest more then I can afford to loose. So no extra BTC for me atm 

I just buy until the price of the ones I already have goes up.

[nioc]

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

congrats! wish i could do the same... 

Me too  

I knew the price was going up soon so a few weeks ago I started buying a small amount everyday with cash and 3 small weekly purchases from circle.  So I did end up with a few more

I would like to buy more but I did silly things with my money like get my teeth fixed and replace my 26 year old car.

But I wasn't joking that I believe the price will go up from here, long term.

My post was supposed to be a bit of troll bait

[nioc]

Me too, but I dont invest more then I can afford to loose. So no extra BTC for me atm 

I just buy until the price of the ones I already have goes up.

Maybe I'm a bit slow but I don't understand.

My first btc was $22.  So once it went to $23 I should have stopped buying?

[doc12]

Me too, but I dont invest more then I can afford to loose. So no extra BTC for me atm  

I just buy until the price of the ones I already have goes up.

Maybe I'm a bit slow but I don't understand.

My first btc was $22.  So once it went to $23 I should have stopped buying?

These are nice prices    Unfortunatly my first were around 220$ ...

[600watt]

oh... look at that!

Dear Bitstamp clients,

We are excited to announce that our clients can now use our new EUR/USD trading pair. The new trading pair allows for better mobility of funds and new arbitrage opportunities.

Trading will begin tomorrow, May 31st, 11:00 UTC.

About EUR/USD trading
• Live trading 24/7
• Flat 0.2% fee
• Cash exchange

Bitstamp has recently obtained a Payment Institution License in Luxembourg, making it a licensed currency exchange. In the approaching months we will continue to add more fiat-to-fiat and virtual currency-to-fiat trading pairs in order to cater to our client's needs.

Please do not hesitate to contact us in case of questions or if you require any assistance.

Best regards
Bitstamp

i was expecting such a move. everyone with some btc on a bitstamp account was wondering why the price was so low in $ but much higher in €. the difference was up to $15 per btc. which means that if it was possible to sell your btc on stamp for € and then convert those to $ and buy back btc one could make money easily. bitstamp must have gotten a lot of requests by customers today to end this strange spread by letting them swap their €/$ accounts. it is really incredible that bitstamp is able to react that fast. the moment this trading is allowed $ price for btc on bitstamp will jump to bitfinex level.

https://www.bitstamp.net/article/bitstamp-launches-eurusd-trading/
(reddit x-post)

[0rganic]

Look how time flies, down $10 since that was posted.

LOL yes only if they were trolls would be even funnier

Nuff said )

[becoin]

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

[Assmaster2000]

^Good point. You should drop them a line.

[600watt]

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

but with a $15 lower price than average, customers will get tempted to sell their coins @competition. that can´t be good for an exchange. what should they have done about it instead? 

[European Central Bank]

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only.

I wonder if their new regulations cover them for that stuff. Maybe so but there might be a whole new bunch of rules to follow.

[DaRude]

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here

[Assmaster2000]

They're only letting users trade between each other to set the rate.

Just when an interesting debate was getting started. Way to go and ruin it for everyone

[Fakhoury]

IMF Magazine Examines Present and Future of Bitcoin

http://cointelegraph.com/news/imf-magazine-examines-present-and-future-of-bitcoin?utm_content=bufferdfb0a&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

[becoin]

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here

If they really and strictly are letting users trade between each other to set the rate then I'm not following them. If you trade BTC/EUR and BTC/USD  then you effectively trade EUR/USD as well. Why would you deliberately introduce EUR/USD if you're not tempted to take advantage of some arbitrage 'opportunity'? With the opportunity, however, comes the risk especially if you don't know what is the EUR/USD exchange rate.

[DaRude]

This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.

Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here

If they really and strictly are letting users trade between each other to set the rate then I'm not following them. If you trade BTC/EUR and BTC/USD  then you effectively trade EUR/USD as well. Why would you deliberately introduce EUR/USD if you're not tempted to take advantage of some arbitrage 'opportunity'? With the opportunity, however, comes the risk especially if you don't know what is the EUR/USD exchange rate.

I believe they process SWIFT deposits in EUR faster and cheaper than wires in USD, and there seem to be a disconnect between BTC/EUR and BTC/USD pairs. You're right it's effectively USD/BTC BTC/EUR conversion just cuts out one step and exchange fees for arbs to be more effective. btc-e had eur/usd pair for a while now