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

[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!

[gembitz]

bitcoin is overbought as fuck!

it is time for a serious correction!

$7000 close ~ are you new here?    weeee

[bones261]

Sorry, I'm still learning the ins and outs. I understand the private keys are in the Trezor, I didn't know you could just plug the thing into multiple wallets.

Here's a list of Wallets that can interact with your Trezor. Some are watch only.

https://doc.satoshilabs.com/trezor-apps/index.html#using-trezor-with-bitcoin-and-altcoin-wallets

[jojo69]

bitcoin is overbought as fuck!

it is time for a serious correction!

wave 5 complete?

[gwoplock]

bitcoin is overbought as fuck!

it is time for a serious correction!

wave 5 complete?

nah. I think we are growing at an ok rate. looking at the all time chars in log we aren't over a linear line. the only time we've broken it is a bubble. if we stay like this I don't think its a bubble.

[Searing]

6370+. I was thinking: When it was 1k or so a year ago I couldn't have imagined it would go up by a factor of five.

Now I wonder if it will go up by another factor of 5 to 30k. Not unbelievable.

C

If it does my life will change more than I could ever imagine.

Ditto...as I said to a friend on here two months ago....we'd better go back to thinking of BTC as fairydust/unicorn/tulip/imaginary rainbow money ..or we are gonna lose
our minds ..it has worked for awhile as a 'mental' excercise ...er now at these prices not so much....

wait...doing that means my mind is already gone...on the other hand...thinking of this as REAL money is also unbelievable

er....dumbstruck .....


denial of the inevitable is getting hard...but acceptance of the inevetable is also somewhat impossible...so I guess I'll just continue to stand about 'slackjawed' in awe...

[Ted E. Bare]

What a year... What a year...

[pfrtlpfmpf]

bitcoin is overbought as fuck!

it is time for a serious correction!

Nah, it´s just appreciation on the big picture !

Just keep your hands inside the vehicle at all times.

[mrkavasaki]

but seriously i think bitcoin will have a correction soon

[Heater]

I wanted some insightful analysis of the recent price rise so I checked out r/Economics/ and this is what I got:

Imagine a bunch of kids at an all you can eat buffet. One of the kids is slowly eating a salad and he seems healthy and reasonably happy, though he is eating slowly. There is another kid, who is fat as all hell, who is cramming ice cream into his mouth as quickly as his bulbous hands can heft it to his face. Beside him, a pool of vomit on the floor. The fat child's parents see your look and say "Its alright, he threw up from vanilla Ice Cream, we switched him to chocolate, its totally different."

https://www.reddit.com/r/Economics/comments/79wc4c/bitcoin_hits_alltime_high_after_cme_group_says_to/dp5owh7/

Those guys are so smart I can't even understand what the hell they are talking about!

[BlindMayorBitcorn]

I wanted some insightful analysis of the recent price rise so I checked out r/Economics/ and this is what I got:

Imagine a bunch of kids at an all you can eat buffet. One of the kids is slowly eating a salad and he seems healthy and reasonably happy, though he is eating slowly. There is another kid, who is fat as all hell, who is cramming ice cream into his mouth as quickly as his bulbous hands can heft it to his face. Beside him, a pool of vomit on the floor. The fat child's parents see your look and say "Its alright, he threw up from vanilla Ice Cream, we switched him to chocolate, its totally different."

https://www.reddit.com/r/Economics/comments/79wc4c/bitcoin_hits_alltime_high_after_cme_group_says_to/dp5owh7/

Those guys are so smart I can't even understand what the hell they are talking about!

If coulds and cans bought mayos and hams they'd all be eating fat sandwiches. Why can't they just get it and pull up a chair already..