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

[explorer]

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!!!

[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.