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

[Clavulanic]

Patiently waiting for that spike upwards (at least a doubling within one week). Until then, it is still HODLing time.

For me I will still hold my funds before that spike to happen, because looking over to the bigger results, I am certain that having the patience that we had for bitcoin's value so far will benefit us most of the time now. I guess on week isn't just enough to wait, but surely we can experience the goodness of the price when it reached to the highest peak of price history. Although fluctuations may happen as previous months are in fear of price decrease, because of highest price that it can made investors to decide of selling their assets; but still they are positive enough to think of holding it. More will be investing now as demands rises from time to time and we are on the road to $7k.

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[LewisPirenne]

A few thoughts on the CME news.  Even though the contract is cash-settled, market makers do need to hedge if they want to provide liquidity.  Because as we hodlers know, who wants to take the other side of the trade, e.g. short?  Jamie Dimon?  If the market demand is one-sided, market makers got to step in and take other side of the trade, and for that they need to hedge, unless they want to get rekted/blown-up.

But as we all know, BTC has limited quantity and even smaller outstanding stock available on the exchanges.  So if market makers want to delta hedge, they need to hold the underlying asset, i.e. BTC, since they can't fractional-reserve this and create BTC out of thin air.  So when BTC spikes up (or plunges), this is going to make the volatility even worse as market maker scramble to buy/sell BTC.  There might simply not be enough BTC around for people to hedge.  Though this would be less of a problem when BTC has huge market cap in the trillions, i.e. fixed quantity but supporting larger notional value of outstanding contracts.    

Also, BTC is traded 24/7/365 across the world and the biggest volume isn't even in the US.  It is in JPY (Japan) now and was CNY (China) before.  So the biggest influence on spot price (needed for cash settlement of contract) isn't in USD nor in the US.  This is like having a BCH future on CME while the trades are all being done in KRW on Bithumb.  Quite risky and manipulations are all oversea based.  One would need to get funds oversea for settlement manipulation and often the exchanges won't even open account unless you have ARC (alien registration card) for Japan or South Korea.

[pfrtlpfmpf]

Somebody said: 100 to 4000 was difficult.

4000 to 400000 will be easy !



That´s right, i said: 400000
hundreds and thousands, pfmpf . . .

[gentlemand]

A few thoughts on the CME news.

My main thought is something that hasn't been mentioned very much - 'subject to regulation'.

[barota]

bitcoin rise Strongly The last two days ; but Every time it rises we see Some mystery in blockchain

we have 48988 unconfirmed transactions until now

Will we see dump?

[AlcoHoDL]

ATH @ Kraken!

5520 €

[BlindMayorBitcorn]

Sweet Carolina!

[rjclarke2000]

Sweet Carolina!

Country Music fest?

Edit. CCMF

[marcus_of_augustus]

Sweet Carolina!

https://www.youtube.com/watch?v=1vhFnTjia_I

[BlindMayorBitcorn]

Touching me. Touching you.

Bitcoin

[JimboToronto]

ATHs everywhere. $6427 at Stamp.

Chug chug maternal fornicator. 

[xhomerx10]

Sweet Carolina!

 Wow!  This is exciting.

[jojo69]

woooo, o, WOOOOOOOOOOO!

[TwoCorn]

and Vers, Belshes, Silberts lol

Happy whitepaper day.

From the Denham Tracts? Never thought I'd see that here! I should've known better. This is Bitcoin.

[marcus_of_augustus]

Touching me. Touching you.

Bitcoin

Where it began, I can't begin to knowing
But then I know it's growing strong
Was in the spring
Then spring became the summer
Who'd have believed you'd come along

Hands, touching hands
Reaching out, touching me, touching you

Sweet Caroline
Good times never seemed so good
I'd be inclined
To believe they never would
But now I

Look at the night and it don't seem so lonely
We filled it up with only two
And when I hurt
Hurting runs off my shoulders
How can I hurt when I'm hodling you

One, touching one
Reaching out, touching me, touching you

Sweet Caroline
Good times never seemed so good
I'd be inclined
To believe they never would
Oh no, no

Sweet Caroline
Good times never seemed so good
Sweet Caroline
I believe they never could

Sweet Caroline

... it's CCMF ATH rally song

[marcus_of_augustus]

I'm interested to know who else is using the BRR and BRTI for price referencing?

http://www.cmegroup.com/trading/cf-bitcoin-reference-rate.html

I'd like to see it on bitcoinity.org or similar ... or a ticker feed for it (BRTI) somewhere.

[windjc]

A few thoughts on the CME news.  Even though the contract is cash-settled, market makers do need to hedge if they want to provide liquidity.  Because as we hodlers know, who wants to take the other side of the trade, e.g. short?  Jamie Dimon?  If the market demand is one-sided, market makers got to step in and take other side of the trade, and for that they need to hedge, unless they want to get rekted/blown-up.

But as we all know, BTC has limited quantity and even smaller outstanding stock available on the exchanges.  So if market makers want to delta hedge, they need to hold the underlying asset, i.e. BTC, since they can't fractional-reserve this and create BTC out of thin air.  So when BTC spikes up (or plunges), this is going to make the volatility even worse as market maker scramble to buy/sell BTC.  There might simply not be enough BTC around for people to hedge.  Though this would be less of a problem when BTC has huge market cap in the trillions, i.e. fixed quantity but supporting larger notional value of outstanding contracts.    

Also, BTC is traded 24/7/365 across the world and the biggest volume isn't even in the US.  It is in JPY (Japan) now and was CNY (China) before.  So the biggest influence on spot price (needed for cash settlement of contract) isn't in USD nor in the US.  This is like having a BCH future on CME while the trades are all being done in KRW on Bithumb.  Quite risky and manipulations are all oversea based.  One would need to get funds oversea for settlement manipulation and often the exchanges won't even open account unless you have ARC (alien registration card) for Japan or South Korea.

Nice post. Thanks for the insights.

[jbreher]

http://imagizer.imageshack.us/a/img922/6373/E50qSb.gif

Addition of Korea may make chart more useful.

[Vin]

Touching me. Touching you.

Bitcoin

Where it began, I can't begin to knowing
But then I know it's growing strong
Was in the spring
Then spring became the summer
Who'd have believed you'd come along

Hands, touching hands
Reaching out, touching me, touching you

Sweet Caroline
Good times never seemed so good
I'd be inclined
To believe they never would
But now I

Look at the night and it don't seem so lonely
We filled it up with only two
And when I hurt
Hurting runs off my shoulders
How can I hurt when I'm hodling you

One, touching one
Reaching out, touching me, touching you

Sweet Caroline
Good times never seemed so good
I'd be inclined
To believe they never would
Oh no, no

Sweet Caroline
Good times never seemed so good
Sweet Caroline
I believe they never could

Sweet Caroline

... it's CCMF ATH rally song

Best thing, I have read today : )

Wonderful!

[mrkavasaki]

bitcoin is overbought as fuck!

it is time for a serious correction!