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

[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.

[1714996740]

1714996740

[1714996740]

1714996740

[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

[r0ach]

Gold is bout to dump below $1200 while BTC goes up heh.

[Assmaster2000]

Cheer up, gentlemen.



P.S. If you think this is a joke, read link.

[bitcoin carpenter]

BTC tear, been since 2013 that i was so on the edge if my seat.

[savetherainforest]

Hello! I'm new here ... But I have been watching you all from the shadows for the past 200 pages or so... ( oh boy .. that was creepy... )


I read the forum while eating popcorn, drinking "bear" and trading the bitcoin all day long!

 ... And I came here for the bear fights and rocket pictures!!! I <3 rocket pics! 

[arklan]

what the hell caused the climb out of the 400's? i'm so out of touch it's ridiculous...

[JayJuanGee]

what the hell caused the climb out of the 400's? i'm so out of touch it's ridiculous...

Demand was greater than supply.

[mymenace]

                                                                    I can do it all...


         my Bank                      my Cash                      my Vote                      my Deal                      my Data

   https://bitcoin.org        https://bitcoin.org        https://voteflux.org    http://www.rootstock.io    http://factom.org


                                                                  myBTC

[USB-S]

                                                                    I can do it all...


         my Bank                      my Cash                      my Vote                      my Deal                      my Data

   https://bitcoin.org        https://bitcoin.org        https://voteflux.org    http://www.rootstock.io    http://factom.org


                                                                  myBTC

You forgot to put a link to your private key after my BTC

[mymenace]

You forgot to put a link to your private key after my BTC

here ya go

                     ,.=ctE55ttt553tzs.,
                 ,,c5;z==!!::::  .::7:==it3>.,
              ,xC;z!::::::    ::::::::::::!=c33x,
            ,czz!:::::  ::;;..===:..:::   ::::!ct3.
          ,C;/.:: :  ;=c!:::::::::::::::..        !tt3.
         /z/.:   :;z!:::::J  :E3.  E:::::::..       !ct3.
       ,E;F   ::;t::::::::J  :E3.  E::.     ::.        \ttL
      ;E7.    :c::::F******   **.  *==c;..      ::Jttk
     .EJ.    ;::::::L                         "\:.   ::.      Jttl
     [:.    :::::::::773.    JE773zs.     I:. ::::.      It3L
    ;:[     L:::::::::::L    |t::!::J     |::::::::       :Et3
    [:L    !::::::::::::L    |t::;z2F    .Et:::.:::.    ::[13
    E:.    !::::::::::::L               =Et::::::::!      ::|13
    E:.    (::::::::::::L    .......       \:::::::!        ::|i3
    [:L    !::::      ::L    |3t::::!3.     ]::::::.      ::[13
    !:(     .:::::    ::L    |t::::::3L     |:::::;  :  :::EE3
     E3.    :::::::::;z5.    Jz;;;z=F.     :E:::::.:  :::II3[
     Jt1.    :::::::[                       ;z5::::;.::  ::;3t3
      \z1.::::::::::l......   ..   ;.=ct5::::::/.::::  ;Et3L
       \t3.:::::::::::::::J  :E3.  Et::::::::;!:::::;5E3L
        "cz\.:::::::::::::J   E3.  E:::::::z!      ;Zz37`
          \z3.       ::;:::::::::::::::;='         ./355F
            \z3x.         ::~======='         ,c253F
              "tz3=.                          ..c5t32^
                 "=zz3==...         ...=t3z13P^
                     `*=zjzczIIII3zzztE3>*^`

[DaRude]

what the hell caused the climb out of the 400's? i'm so out of touch it's ridiculous...

Demand was greater than supply.

And supply is about to get cut in half 

[arklan]

what the hell caused the climb out of the 400's? i'm so out of touch it's ridiculous...

Demand was greater than supply.

And supply is about to get cut in half 

while i get that, at a basic level, that's always the cause, usually there's something else going on that caused the demand to spike. some announcement or something.

was it really nothing specific this time? ...trippy. i figured we'd be stable until the halving cause of all the "consensus" bull. but then, as i said, i'm way out of touch.

then again, as i look at it, halving is only about 40 days away. that's enough, i suppose.

[Assmaster2000]

                                                                    I can do it all...


         my Bank                      my Cash                      my Vote                      my Deal                      my Data
                  
   https://bitcoin.org        https://bitcoin.org        https://voteflux.org    http://www.rootstock.io    http://factom.org
                         
                      myBTCeanies

[USB-S]

You forgot to put a link to your private key after my BTC

here ya go

                     ,.=ctE55ttt553tzs.,
                 ,,c5;z==!!::::  .::7:==it3>.,
              ,xC;z!::::::    ::::::::::::!=c33x,
            ,czz!:::::  ::;;..===:..:::   ::::!ct3.
          ,C;/.:: :  ;=c!:::::::::::::::..        !tt3.
         /z/.:   :;z!:::::J  :E3.  E:::::::..       !ct3.
       ,E;F   ::;t::::::::J  :E3.  E::.     ::.        \ttL
      ;E7.    :c::::F******   **.  *==c;..      ::Jttk
     .EJ.    ;::::::L                         "\:.   ::.      Jttl
     [:.    :::::::::773.    JE773zs.     I:. ::::.      It3L
    ;:[     L:::::::::::L    |t::!::J     |::::::::       :Et3
    [:L    !::::::::::::L    |t::;z2F    .Et:::.:::.    ::[13
    E:.    !::::::::::::L               =Et::::::::!      ::|13
    E:.    (::::::::::::L    .......       \:::::::!        ::|i3
    [:L    !::::      ::L    |3t::::!3.     ]::::::.      ::[13
    !:(     .:::::    ::L    |t::::::3L     |:::::;  :  :::EE3
     E3.    :::::::::;z5.    Jz;;;z=F.     :E:::::.:  :::II3[
     Jt1.    :::::::[                       ;z5::::;.::  ::;3t3
      \z1.::::::::::l......   ..   ;.=ct5::::::/.::::  ;Et3L
       \t3.:::::::::::::::J  :E3.  Et::::::::;!:::::;5E3L
        "cz\.:::::::::::::J   E3.  E:::::::z!      ;Zz37`
          \z3.       ::;:::::::::::::::;='         ./355F
            \z3x.         ::~======='         ,c253F
              "tz3=.                          ..c5t32^
                 "=zz3==...         ...=t3z13P^
                     `*=zjzczIIII3zzztE3>*^`

[JayJuanGee]

what the hell caused the climb out of the 400's? i'm so out of touch it's ridiculous...

Demand was greater than supply.

And supply is about to get cut in half  

while i get that, at a basic level, that's always the cause, usually there's something else going on that caused the demand to spike. some announcement or something.

was it really nothing specific this time? ...trippy. i figured we'd be stable until the halving cause of all the "consensus" bull. but then, as i said, i'm way out of touch.

then again, as i look at it, halving is only about 40 days away. that's enough, i suppose.

Wasn't it time for a price upsurge, more or less?


Over the past couple of months, when we generally went up from $403 to $470 on relatively low volume, and then had several price correction attempts to bring prices below $435, that continued to be relatively low volume.. but not really success.

And, even before that we had multiple attempts at spreading FUCD with the Hernia-rage-quit - and then ongoing exaggerating about the death of bitcoin due to scaling issue fabrications... but in the end, major players have been figuring out that bitcoin really is not broken.. and that Wright is not Satoshi (which was also connected to the bigger blockers).

Buyers were just figuring it out that there is a lot of negative hype about bitcoin, and it is the shit... ETH does not really seem to have much to do with the current BTC pump.


During that price movement process of recent months and last week's breaking of the $470 resistance, the theory is either that: 1) the bears (sellers) are running out of coins to sell (and no one else really wants to sell when the price goes lower than $440), or that 2) the price is being manipulated by whales (large holders of coins)...

however, even though the volume did not pick up initially except to bring us from the $450s to $490s, the volume did pick up after that so the price battle ensued, and it really seems that we are not being manipulated by whales... and sellers are running out of coins...


in essence the theory of my first posting, demand exceeds supply.