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

[TReano]

https://bitfinex.statuspage.io/
this seems like it is going to cause prices at Finex to skyrocket when it opens.

They didn't just lose 87 million $ worth of coins they also have to compensate all the long positions which lost money because the exchange was closed.


Good Luck with that.

They are completly fucked. I doubt they can survive this. If they do somehow come back online any Person staying on this shithole just can't be helped anymore.

[European Central Bank]

They didn't just lose 87 million $ worth of coins they also have to compensate all the long positions which lost money because the exchange was closed.

they've never compensated people who were caught out by their outages before. no way they're gonna start doing it now.

[AlexGR]

Welcome to the next bear Market, brought to you by Mt. FinexShit.

Hack = 75mn
Marketcap lost something like 1.5 to 2.5 billions (depending when you look at it).

In other words, the market overreacted so it will inevitably bounce back because a 75mn hack cannot account for the marketcap fall. Short-term market action is kind of irrelevant in the larger scheme of things.

120,000 coins could clear every book on every exchange down to single digits. Correct me if I'm wrong.

That makes an even better case because if he sells to crash the price, he'll not be making 75mn but something like 10-20mn. In which case a 10-20mn amount can't have a serious effect in a 10bn marketcap, except as a short-term anomaly.

[TReano]

Welcome to the next bear Market, brought to you by Mt. FinexShit.

Hack = 75mn
Marketcap lost something like 1.5 to 2.5 billions (depending when you look at it).

In other words, the market overreacted so it will inevitably bounce back because a 75mn hack cannot account for the marketcap fall. Short-term market action is kind of irrelevant in the larger scheme of things.

You can't count it like that. That's way to simple.

Trust is the most important thing for a currency. And Trust go completely crushed yesterday. The biggest Western exchange lost the majority of their coins. Why would any new money keep floating into any exchanges now?

I wouldn't be surprised if we do make even lower lows soon. It's Mt. Gox all over again.

Better collect money and buy back in once all this shit has settled down and the Blocksize Civil war is solved.

[BlindMayorBitcorn]

Welcome to the next bear Market, brought to you by Mt. FinexShit.

Hack = 75mn
Marketcap lost something like 1.5 to 2.5 billions (depending when you look at it).

In other words, the market overreacted so it will inevitably bounce back because a 75mn hack cannot account for the marketcap fall. Short-term market action is kind of irrelevant in the larger scheme of things.

120,000 coins could clear every book on every exchange down to single digits. Correct me if I'm wrong.

That makes an even better case because if he sells to crash the price, he'll not be making 75mn but something like 10-20mn. In which case a 10-20mn amount can't have a serious effect in a 10bn marketcap, except as a short-term anomaly.

That, or market cap is sort of fake.

[TReano]

They didn't just lose 87 million $ worth of coins they also have to compensate all the long positions which lost money because the exchange was closed.

they've never compensated people who were caught out by their outages before. no way they're gonna start doing it now.

They did. You just had to write a support ticket to get a refund.

[European Central Bank]

They did. You just had to write a support ticket to get a refund.

really? r/bitcoinmarkets is always filled with people shouting about being wiped out by the latest outage. I've never seen any of them mention being made whole again. maybe they like being drama queens and never fill us in about the boring conclusion.

[conspirosphere.tk]

120,000 coins could clear every book on every exchange down to single digits. Correct me if I'm wrong.

that would make the hole in Bitfinex much smaller, not to speak of making the scene 10 times more wild and interesting.
But it can't happen. It's not like BTC has been hacked or hardforked by a coup d'etat.

[BlindMayorBitcorn]

120,000 coins could clear every book on every exchange down to single digits. Correct me if I'm wrong.

that would make the hole in Bitfinex much smaller, not to speak of making the scene 10 times more wild and interesting.
But it can't happen. It's not like BTC has been hacked or hardforked by a coup d'etat.

What makes you say that? The Stamp hackers got away with the loot, didn't they?

[paratox]

You can't count it like that. That's way to simple.

Trust is the most important thing for a currency. And Trust go completely crushed yesterday. The biggest Western exchange lost the majority of their coins. Why would any new money keep floating into any exchanges now?

Trust in bitfinex got crushed, not in the currency itself.

There a lot of other exchanges, some even older than bitfinex.

[conspirosphere.tk]

120,000 coins could clear every book on every exchange down to single digits. Correct me if I'm wrong.

that would make the hole in Bitfinex much smaller, not to speak of making the scene 10 times more wild and interesting.
But it can't happen. It's not like BTC has been hacked or hardforked by a coup d'etat.

What makes you say that? The Stamp hackers got away with the loot, didn't they?

And why do you assume static books? Once the dust settles, it's game on again. I can even imagine myself buying moar at a good discount.

[AlexGR]

Welcome to the next bear Market, brought to you by Mt. FinexShit.

Hack = 75mn
Marketcap lost something like 1.5 to 2.5 billions (depending when you look at it).

In other words, the market overreacted so it will inevitably bounce back because a 75mn hack cannot account for the marketcap fall. Short-term market action is kind of irrelevant in the larger scheme of things.

120,000 coins could clear every book on every exchange down to single digits. Correct me if I'm wrong.

That makes an even better case because if he sells to crash the price, he'll not be making 75mn but something like 10-20mn. In which case a 10-20mn amount can't have a serious effect in a 10bn marketcap, except as a short-term anomaly.

That, or market cap is sort of fake.

It is fake, due to constant price suppression with coins that don't exist, coins that are confiscated, hacked, etc etc. It should be 20bn+.

[TReano]

Welcome to the next bear Market, brought to you by Mt. FinexShit.

... which exchange are you short on?? ..and do you really expect to get some coins out before the inevitable?

what are you talking about?

Yes I closed my short already and looking for a new short entry on this bounce. Good Luck staying long in this situation.

[lemmyK]

ANTMINER S9-B9, 12.93 TH/s. Sold out
Speed:    12.93
Weight:    5.5 kg
Price:       3.05 BTC
               ( 1699.16 USD )    ;Dlololololol   forget(!) after all in last 2 days .. 800-1000 MAX
Sold Out

[rolling]

https://bitfinex.statuspage.io/

New update just posted...

[Spaceman_Spiff]

If you are trading a larger spectrum, like "oh it's 550 today, I think it will rebound to 600+ levels in a week", why would I keep my money on the exchange? I'll buy at 550, take it to my wallet, return it to the exchange in a week, sell them then, get my fiat.

because you were waiting for a dip in the 5xx s and had bids ready to take a big leveraged long position?  FML

[AlexGR]

If you are trading a larger spectrum, like "oh it's 550 today, I think it will rebound to 600+ levels in a week", why would I keep my money on the exchange? I'll buy at 550, take it to my wallet, return it to the exchange in a week, sell them then, get my fiat.

because you were waiting for a dip in the 5xx s and had bids ready to take a big leveraged long position?  FML

If I'm waiting a dip to buy with my fiat, then my problem is not the 10-40m confirmation times of bitcoin, but the eons of time that bank wires take.

[empowering]

"To accommodate the relaunch, all withdrawals, open orders, and open funding offers will be canceled"

 

[marcus_of_augustus]

"To accommodate the relaunch, all withdrawals, open orders, and open funding offers will be canceled"

 

[empowering]

"To accommodate the relaunch, all withdrawals, open orders, and open funding offers will be canceled"

 

 

Yup I had a few coins on there in a few old margin accounts - liquidation points around and or sub $150

Ah well- tis what it tis I was under zero illusion- no big loss.