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

[Real_Ramsey]

The Big Bang Theory episode happened. Anyone see it?

http://www.cbs.com/shows/big_bang_theory/video/dpMvDGfPwDPhLYaAHDlBMfzFfcr89wqK/the-big-bang-theory-the-bitcoin-entanglement/

Pretty funny

[ragnar0k]

IF $10,000 holds (and that's a big if, but I'm feeling optimistic), then we've achieved the 12th Bitcoin doubling floor since $2.50.

This puts the latest doubling floor at only 50 days, beating the previous run of 77 days. The record still belongs to the $20-$40 runup, which took only 39 days to "permanently" double.

Anyhow, at this rate, we might have a brand new $20k floor by mid January! 

Hopefully we won't have a "FINEXXED"

[Rosewater Foundation]

The Big Bang Theory episode happened. Anyone see it?

http://www.cbs.com/shows/big_bang_theory/video/dpMvDGfPwDPhLYaAHDlBMfzFfcr89wqK/the-big-bang-theory-the-bitcoin-entanglement/

Pretty funny

"Sheldon tries to teach the guys a lesson after they cut him out of a potentially valuable Bitcoin investment. Also, a seven-year-old video reveals a secret about Leonard and Penny's relationship."

Got it. So drole.

[Wekkel]

The record still belongs to the $20-$40 runup, which took only 39 days to "permanently" double.

Nice chart (took a lot of work). I think a doubling in 39 days has better chance than 50 days. Parabolic means parabolic after all.

[Gyrsur]

Here is a new Andrew's Pitchfork with trend line projections drawn into first quarter 2018:



Remember chart is log scale.

amazing!! 

[jojo69]

Got it. So drole.

droll

sorry

[Rosewater Foundation]

Got it. So drole.

droll

sorry

https://en.wiktionary.org/wiki/drôle

[Rosewater Foundation]

^Hyperlinks are broken now. Prolly the NSA

[Heater]

^Hyperlinks are broken now. Prolly the NSA

You have to do it like this:

https://en.wiktionary.org/wiki/drôle

with the [ url ] [ / url ] thing

[Heater]

Since we are posting bullsh charts today:

Ground control to Major Tom...

[xhomerx10]

The badger rolls over.  Is ded.

 Just having a nap.

look at that lazy fuck

Just finished killing another cobra.  Need the nap to detox.  Will consume said cobra upon waking.  Now SHHH!!!

[Heater]

Last one:

https://twitter.com/parabolictrav/status/936770842075152386

Parabolic Trav‏ @parabolictrav

Entering the first target box. Watching the weekly to confirm no reversal by Sunday. If we end Sunday well, I expect we repeat this weeks performance next week. We're in the parabolic feedback loop and it doesn't stop until it implodes.

[lightfoot]

When you're alone, and life is making you lonely
You can always go
Downtown
When you've got worries, all the noise and the hurry
Seems to help, I know
Downtown
Just listen to the music of the traffic in the city
Linger on the sidewalk where the neon signs are pretty
How can you lose?...

Cause I live....

Downtown: Where you're life's a joke
You live Downtown, where there is no hope
You live Downtown, where depression is status quo....
Down on skid row.....

(Little Shop of Horrors)

[lightfoot]

Two Chicago-based exchanges to begin trading bitcoin futures in December

watch for the fireworks

So I have a question about the futures trading: Will these idiots actually have to buy and hold bitcoins in order to buy or sell, or are they just betting on the price like a numbers racket?

[explorer]

Two Chicago-based exchanges to begin trading bitcoin futures in December

watch for the fireworks

So I have a question about the futures trading: Will these idiots actually have to buy and hold bitcoins in order to buy or sell, or are they just betting on the price like a numbers racket?

Nothing to do with bitcoin, unless they choose to hedge shorts by holding actual BTC.  It is a cash settled derivative bet.

[Heater]

Two Chicago-based exchanges to begin trading bitcoin futures in December

watch for the fireworks

So I have a question about the futures trading: Will these idiots actually have to buy and hold bitcoins in order to buy or sell, or are they just betting on the price like a numbers racket?

It's cash settled so they don't have to own any physical at any stage, but that won't prevent arb trading.

http://www.cmegroup.com/trading/bitcoin-futures.html

CME Globex and CME ClearPort: 5:00 p.m. – 4:00 p.m. CT Sunday – Friday

I presume this means 23 hour/day trading 6 days per week?

The other interesting thing is the price limits:

   
Price limits for a given Business Day are calculated in relation to a reference price, which generally will be set at the most recent Bitcoin Futures settlement price, calculated at 4:00 p.m. London time each Business Day. The reference price may be adjusted at the sole discretion of the Exchange to incorporate BRR changes on non-trading days. A price limit of 20% above or below the reference price and special price fluctuation limits equal to 7% above or below the reference price and 13% above or below the reference price apply. Trading will not be permitted outside of the 20% range above or below the reference price.

The CME will shutdown trading if limits are exceeded, but the crypto exchanges will keep going - we could get a divergence. Image a week where it rises more than 20% every day => Hyperbitcoinisation ensues.

[lightfoot]

So by settled it means they have to either buy or sell real bitcoin. Otherwise it's just a way for people to just drive prices based on complete fantasy (as opposed to actually having to buy bitcoin for example)

Hm.

[bullioner]

So I have a question about the futures trading: Will these idiots actually have to buy and hold bitcoins in order to buy or sell, or are they just betting on the price like a numbers racket?

The latter - it's a bucket shop.  How legal, no idea.

[HairyMaclairy]

So the CME futures are driven by their daily close index which is once per day.  And that’s public data we should be able to calculate ourselves. 

[HairyMaclairy]

So by settled it means they have to either buy or sell real bitcoin. Otherwise it's just a way for people to just drive prices based on complete fantasy (as opposed to actually having to buy bitcoin for example)

Hm.

Cash settled.  No bitcoin to trade hands. But if you are naked shorting you are mad.