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

[DaRude]

Finex is getting some volume back? Shorts are at 1yr high too, grab your torches?  

Do you think that when there are that many shorts, then the price is more likely to go up?

I have no real clue, except that I do understand the motive to push the price in the opposite direction to force those shorts into being called.

shorts are not at 1 year high, the 1 year high is 25,345 BTC August 1 2016 03:00

Not seeing shorts crossing BTC25k on Aug 1st

[gentlemand]

what is the relation between Marine Le Pen polling well in France and the price of Bitcoin?

Hey, everything that happens is good for the price of Bitcoin. I myself have been discovering skid marks in my pants repeatedly recently. You're welcome to thank me for the price holding as well as it has.

[DaRude]

Finex is getting some volume back? Shorts are at 1yr high too, grab your torches?  

Do you think that when there are that many shorts, then the price is more likely to go up?

I have no real clue, except that I do understand the motive to push the price in the opposite direction to force those shorts into being called.

shorts are not at 1 year high, the 1 year high is 25,345 BTC August 1 2016 03:00

I was not really so worried about whether DaRude was technically correct, only whether there was some kind of significance in the quantity of change that he was witnessing... and whether that quantity of shorts would be some factor that would influence our insights concerning probabilities of the price moving in one direction or another.

I do understand that it means that a lot of folks are appearing to be betting that the price is going down - but it does not necessarily mean that they are correct - but it does mean that we have had a significant amount of time in a price range that may cause some folks to believe that prices are going to be going down - even though they may not be going down..

Also, if the price went up to $950 or $990, would many other those shorts either be forced closed and sure some folks may chose to close them early or they may have taken certain stop loss measures... even at prices lower than $950.

Ultimately, these matters can be a bit complicated, but still some folks may bet on shorter ranges without really appreciating that the price had been suppressed for about 2 years.. and we are likely still in a bull market and still in the process of rebounding from nearly two years of bear market.  


Edit:  I just noticed the August 1, 2016 date that you mentioned  - and yeah, what a coincidence, one day before the supposed "hack"...

Well, those people that are betting are not doing it at BitFinex according to the pic below.

I see longs being more or less constant but shorts going up, are you seeing something else?

[ImI]

LePen hates Bitcoin. Her Party is a mixture of radical nationalism and socialism.

But anyway, she wont get elected. The french system is very well designed, using several votings until a one vs one situation the voters are actually able to do a ranking of their favorites. That means they are able to tell if x is not elected then i give my vote to y. That is really well designed system and leads to a situation where the left votes for a conservative candidate cause they dont want LePen.

[becoin]

According to Arthur Hayes, Co-Founder & CEO, BitMEX

selling pressure will continue until mid-February,

There is no selling pressure. There is continuous persistent buying pressure caused by new bitcoiners.

[AlexGR]

LePen hates Bitcoin.

If she leaves the Euro, then it doesn't matter whether she hates Bitcoin.

[K~Ehleyr]

But anyway, she wont get elected.

Normally I'd agree with you, but we said the same about Trump and Brexit.  Now, clearly, anything is possible, the world is changing.  I'm betting Merkel loses to the hard-right candidate too...

[JayJuanGee]

According to Arthur Hayes, Co-Founder & CEO, BitMEX

selling pressure will continue until mid-February,

There is no selling pressure. There is continuous persistent buying pressure caused by new bitcoiners.

Yep.

Some of these folks seem to be describing facts on the ground in a way that is contrary to what is actually happening.  Go figure!


Haven't they already picked up enough "cheap coins?"

[Elwar]

LePen hates Bitcoin. Her Party is a mixture of radical nationalism and socialism.

Nationalist Socialists...the last time they rose to power nothing but sunshine and lolipops spread across the world.

[600watt]

LePen hates Bitcoin. Her Party is a mixture of radical nationalism and socialism.

Nationalist Socialists...the last time they rose to power nothing but sunshine and lolipops spread across the world.

please be aware that the national socialists were mainly nationalists and fascists and did hunt socialists and put them into concentration camps and killed them. they hated socialism. the name is misleading. they were far right, not left at all.
well, to be more precise, there were actually socialist-like currents in the beginning of "the movement" - especially the SA under Röhm were leaning towards that direction. but hitler just used them to gain more momentum for his plans. guess what he did to röhm once he felt he did not need him anymore:

https://en.wikipedia.org/wiki/Night_of_the_Long_Knives

[Okurkabinladin]

Elwar,

since you just applied Goodwins law to this thread, in a way that is completely unrelated to wall observing BTC/USD tracking. I will just ask you to do us a favor.

Please, do not never ever breed.

[HI-TEC99]

Finex is getting some volume back? Shorts are at 1yr high too, grab your torches?  

Do you think that when there are that many shorts, then the price is more likely to go up?

I have no real clue, except that I do understand the motive to push the price in the opposite direction to force those shorts into being called.

shorts are not at 1 year high, the 1 year high is 25,345 BTC August 1 2016 03:00

Not seeing shorts crossing BTC25k on Aug 1st

Can you post a link to where that chart came from please?

[Elwar]

Elwar,

since you just applied Goodwins law to this thread, in a way that is completely unrelated to wall observing BTC/USD tracking. I will just ask you to do us a favor.

Please, do not never ever breed.

Nazi was brought up before I posted. Just the long spelling of nationalism and socialism.

So Hitler just "used" the nationalist socialists...was he the one that fought to centralize power?

I find it interesting that socialists are shocked when they do all of this centralizing of power then they are so shocked (shocked!) that someone who is not to their liking gets hold of that power and isn't the saint that they created the position for.

Nothing like that is playing out right now though.

[JimboToronto]

Good morning Bitcoinland.

Still flat sideways in $880-$930 range... currently $924 USD (Bitcoinaverage).

Maybe the weekend will bring some real movement.

Elwar,

since you just applied Goodwins law to this thread, in a way that is completely unrelated to wall observing BTC/USD tracking. I will just ask you to do us a favor.

Please, do not never ever breed.

You've gotta cut Elwar some slack. I think he's American.

Americans seem to have a different definition of "socialist" from the rest of the world. Due to media brainwashing and perhaps a less-than-optimal educational system, many Americans seem to think that socialists and fascists are the same, rather than being bitter enemies. They don't realize that fascism is a right-wing phenomenon while socialists are left-wing.

They tend to call "centralized government" what the rest of the world sees as civil infrastructure. They also like to think of a heavily incarcerated civilian population and government data-mining as "freedom" or "liberty".

 

[Pruden]

You've gotta cut Elwar some slack. I think he's American.

Americans seem to have a different definition of "socialist" from the rest of the world. Due to media brainwashing and perhaps a less-than-optimal educational system, many Americans seem to think that socialists and fascists are the same, rather than being bitter enemies. They don't realize that fascism is a right-wing phenomenon while socialists are left-wing.

They tend to call "centralized government" what the rest of the world sees as civil infrastructure. They also like to think of a heavily incarcerated civilian population and government data-mining as "freedom" or "liberty".

 

I'm dying to hear from you not-brainwashed colleague how fascism is different from socialism, apart from different brands useful for getting into brawls.

[Torque]

https://www.cryptocoinsnews.com/credit-china-fintech-inks-30-million-deal-bitcoin-firm-bitfury/

And yet Bitcoin naysayers keep spouting that China is ready to shut down Chinese bitcoin exchanges any day now.  

[boyshx]

please be aware that the national socialists were mainly nationalists and fascists and did hunt socialists and put them into concentration camps and killed them. they hated socialism. the name is misleading. they were far right, not left at all.
well, to be more precise, there were actually socialist-like currents in the beginning of "the movement" - especially the SA under Röhm were leaning towards that direction. but hitler just used them to gain more momentum for his plans. guess what he did to röhm once he felt he did not need him anymore:

https://en.wikipedia.org/wiki/Night_of_the_Long_Knives

so is Le Pen and the National Front. It worries me way more Le Pen than Trump.

[xyzzy099]

please be aware that the national socialists were mainly nationalists and fascists and did hunt socialists and put them into concentration camps and killed them. they hated socialism. the name is misleading. they were far right, not left at all.

https://en.wikipedia.org/wiki/Night_of_the_Long_Knives

They hunted down Marxist socialists, not socialists in general.  And there is no correlation between left/right wing and either socialism or free market economies.  The Nazis were right wing in the original sense of that term:  They genuinely believed that some people are just genetically superior to others and should rule over those others.  The first right-wingers were Monarchists whose superiority was based on their family heritage.  Nowadays people use right-wing as synonymous with conservative or republican, but that is not the sense in which they Nazis were right wing - they were certainly not conservative in any conceivable way, nor were they republican.

[BitcoinNewsMagazine]

Finex is getting some volume back? Shorts are at 1yr high too, grab your torches?  

Do you think that when there are that many shorts, then the price is more likely to go up?

I have no real clue, except that I do understand the motive to push the price in the opposite direction to force those shorts into being called.

shorts are not at 1 year high, the 1 year high is 25,345 BTC August 1 2016 03:00

Not seeing shorts crossing BTC25k on Aug 1st

Can you post a link to where that chart came from please?

See https://www.bfxdata.com/swaphistory/btc

[JimboToronto]

I'm dying to hear from you not-brainwashed colleague how fascism is different from socialism, apart from different brands useful for getting into brawls.

600watt already did a pretty good job of that:

please be aware that the national socialists were mainly nationalists and fascists and did hunt socialists and put them into concentration camps and killed them. they hated socialism. the name is misleading. they were far right, not left at all.
well, to be more precise, there were actually socialist-like currents in the beginning of "the movement" - especially the SA under Röhm were leaning towards that direction. but hitler just used them to gain more momentum for his plans. guess what he did to röhm once he felt he did not need him anymore:

https://en.wikipedia.org/wiki/Night_of_the_Long_Knives

By definition fascism is (quote): "an authoritarian and nationalistic right-wing system of government and social organization".

Socialism is defined as (quote): "a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole".

Sources: just google "fascism" and "socialism".