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

[Alley]

Bitcoin is the best performing currency this year.  I think that's why people are choosing it.

[BlindMayorBitcorn]

wooooo please tell me again how great brexit is for bitcoin.

Racist zenophobia and economic suicide aren't good for anybody.

[spooderman]

wooooo please tell me again how great brexit is for bitcoin.

Racist zenophobia and economic suicide aren't good for anybody.

agreed, though i believe dismissing the vote as purely those things is failry elitist.

more to the point, the general rocking of the boat means money dries up all over the planet and experimental new things like bitcoin suddenly don't have the same amount of money pouring into the space.

i think we really get ahead of ourselves when we consider bitcoin to be something like gold that gets bought up when traditional finance loses people's confidence.

eventually, yes, but right now? no way. we're still a baby.

edit: always remember - the internet grew like it did because times were good. it was way off the ground before 2007/2008.

[savetherainforest]

...  now I'm broke.

It is not my problem you count your wealth in fiat... I count mine in BTCeastcoin!

[BlindMayorBitcorn]

wooooo please tell me again how great brexit is for bitcoin.

Racist zenophobia and economic suicide aren't good for anybody.

agreed, though i believe dismissing the vote as purely those things is failry elitist.

...

I've considered this and wondered if I were in the thick of things if I'd think differently. I've always been a sucker for anti-establishment sentiment.

[savetherainforest]

wooooo please tell me again how great brexit is for bitcoin.

Racist zenophobia and economic suicide aren't good for anybody.

agreed, though i believe dismissing the vote as purely those things is failry elitist.

...

I've considered this and wondered if I were in the thick of things if I'd think differently. I've always been a sucker for anti-establishment sentiment.

Don't worry .... prejudice is a good thing! .... it helps people evolved and become better or less intrusive! its good to hate them immigrants and banksters!

[savetherainforest]

...  now I'm broke.

It is not my problem you count your wealth in fiat... I count mine in BTCeastcoin!

I listened to your gypsy lies and went leveraged long, you aesthetically pleasing yet pathologically thieving and worthless in every possible respect gypsy.
Now I don't have bits or fiat
*seriously tho, who feeds your horse when you're out begging & pickpocketing in the big city?

Are you watching the same exchanges that I do?... look at that bear trap!

[savetherainforest]

Too late for me to watch exchanges, my leveraged longs liquidated. Am broke. Where's your mom's basement colorful gypsy caravan at? I'll come on over and crash for a few roam with you romish free spirits for a bit.

Your jew tears please me! 

[Searing]

I don't expect much increase until after the halving now.  But lately the opposite of what I expect happens.

Has anyone thought that maybe the halving has already been priced in...?

Remember the market is always way ahead of the talking heads...  

disclaimer:I'm just a simple man with a simple plan

Are you a troll or something? .... The price is not satisfactory enough!

Anything above 210 usd works for me. Maybe that is part of the problem with BTC. Too many early holders
Sitting on btc as a store of future value. Not enough folk pushing adoptin. Thus our situation i.e. Traction in
Fits and starts and sideways price wise.

[julian071]

Fuck, went long off of 598 euro's.... I thought we were staggering up. That's well under water now, in danger of liquidation.

Ah well, you win some, you loose some when gambling :-|

[biggus dickus]

wooooo please tell me again how great brexit is for bitcoin.

Although I don't believe politics like BREXIT will be left unmanaged by the Elite, let's see something here that most people overlook: Assume you are british.

What's best for your networth? Local fiat (GBPs) or BTCs?

The pound's going to take more of a beating, and any Brits who are aware of Bitcoin will start thinking about buying some. If they do well out of it they will tell their friends who aren't aware of Bitcoin. Also if the euro starts taking a beating the same could happen all over Europe. That demand could push Bitcoin over $1000 before the Autumn even without the approaching halving.

[Tzupy]

Support broken!
Didn't expect this... Waiting for a long entry, but this is getting bearisher...

[noobtrader]

Support broken!
Didn't expect this... Waiting for a long entry, but this is getting bearisher...

btc at hoobi stil at 666, this is awkwark... 

[btc_owner]

Thanks i have sell at 4500CNY, i don't keep my bitcoin now, i didn't expect a bull to 1K $, do the same because at the halving 1BTC = 500$
it the same for the brexit, everybody say " go to the moon " ahahah

[hodl_2015]

[ chart ]
The pound's going to take more of a beating, and any Brits who are aware of Bitcoin will start thinking about buying some. If they do well out of it they will tell their friends who aren't aware of Bitcoin. Also if the euro starts taking a beating the same could happen all over Europe. That demand could push Bitcoin over $1000 before the Autumn even without the approaching halving.

I doubt the pound's going to take much more beating. Dollars and Euros are being printed at an alarming rate, and both can't really stop doing that, only try to not print faster than anybody else. The UK books are more in balance than the EU books, therefore the UK has the option to slow it's money press a little. I don't think the pound will have a large effect on BTC.

But there are other interesting things: UK citizens may face higher transaction cost to/from Europe, and especially small consumers will get more trouble with import taxes, i.e: a maximum amount they can spend tax-free each year.
(European consumers can now spend a relatively small amount in the US. Pass that limit, and substantial taxes (~20%) are added.)
UK citizens may also spend more in other countries in the world, now they are similarly priced to products for Europe (especially from China)
More worldwide payments that need to be cheap and fast for small payments, is good for bitcoin.
I think these 3 have more effect on BTC than the rate of the pound.

Large UK and EU companies will make sure they are well represented in the negotiations for new trade agreements, so they will be much less affected. The UK was in favour of a trade agreement with China, but the EU has blocked that until now. I don't know how good this would be for the UK, it would definitely be interesting, but maybe not affect BTC much.

The remaining countries in the EU are facing a hard choice: a few countries will need to make up the membership fee of the UK, or the EU would need to cut spending. The first will mean speeding up the money press, the second has never happened before, a may cause trouble for some of the EU countries that are depending on EU cash to survive.

[PigUsher]

But there are other interesting things: UK citizens may face higher transaction cost to/from Europe, and especially small consumers will get more trouble with import taxes, i.e: a maximum amount they can spend tax-free each year.
(European consumers can now spend a relatively small amount in the US. Pass that limit, and substantial taxes (~20%) are added.)
UK citizens may also spend more in other countries in the world, now they are similarly priced to products for Europe (especially from China)
More worldwide payments that need to be cheap and fast for small payments, is good for bitcoin.
I think these 3 have more effect on BTC than the rate of the pound.

Bitcoin useful in tax fraud schemes, you say?
If true, expect BTC to get B&/regulated into oblivion.

[DaRude]

Can't wait till the halvening so these pumps and dumps by mining traders will get cut in half. Feels like majority gets traded OTC and they manipulate the shit out of open market and their shallow order books

[Chainsaw]

Support broken!
Didn't expect this... Waiting for a long entry, but this is getting bearisher...

Sometimes, if it looks too bearish, it's actually bullish

[savetherainforest]

Fuck, went long off of 598 euro's.... I thought we were staggering up. That's well under water now, in danger of liquidation.

Ah well, you win some, you loose some when gambling :-|

... I say burn the weak hands! I see my psychopath friends doing a good job shaking the weak hands!

It is exactly what I would do if I had a few hundred millions. I would drag the market in to a complacent place! And there I can rob everybody on their emotional state of uncertainty!

It is going up... just make sure to stay awake when it moves, so you can buyback in from where you are leveraged!

[DaRude]

Support broken!
Didn't expect this... Waiting for a long entry, but this is getting bearisher...

Sometimes, if it looks too bearish, it's actually bullish

Or it's all just noise.

Back to fundamentals

There are about $43.7MM swaps borrowed just on finex. At current daily rate of 0.06% That's $26k just in daily fees only on Finex
For the last month the conservative daily average trade volume on finex is BTC50000 assuming exchange fee of 0.2% on each trade that's BTC100 daily in fees or $62k. Plus about $10k that shorts are paying in fees. Or in total about $100k in daily fees just on Finex

In 13days there will be only $1.1MM worth of new BTC daily at current spot. So people are paying close to 10% just in fees only on one exchange of all of supply will be worth in 13 days 

But i still enjoy watching people try to momentum trade this or find those short term patterns. Time to stock up on more popcorn and HODL

maths are hard. Couldn't count that high on crazy daily interest