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

[BTCMILLIONAIRE]

I hope someone proves this guy wrong!!  

Bitcoin gamed?
https://www.youtube.com/watch?v=zOgbai2e0kA

As far as I'm aware there is no direct link between Bitcoin futures and Bitcoin itself. So even if Bitcoin follows the futures and goes short, the market should eventually realize that the futures price is irrelevant. Correct me if I'm wrong, still not 100% clear on the whole futures business.

[HanvanBitcoin]

Wrong direction now. Goddamnit.

Hahaha thats epic! i want one 

[Rosewater Foundation]

In all seriousness, what the hell happened last night? We're over 1000 down from when I went to bed. Or is that just the kind of fluctuations we have now?

shake shake shake

[Torque]

It's altcoin trading that fucks you. Holding ETH from 50 cents in 2015 looks like an unobjectionable move to me.

It’s easy to cherry pick with the benefit of hindsight.  Far too many old school bitcoiners sank their battleship diversifying into alts.

Gentlemand probably already knows this, but one of the reasons that most of us Bitcoin old timers didn't just dive in and scoop up ETH (then ETC) at $0.50 each by the truck load was because all of us actually *did* do the research, and found Ethereum completely lacking in its design, structure, pre-mined nature, rate of issuance, and lack of hard cap limit for either a store of value or as a currency. Even Vitalik warned people right away that he didn't regard ETH as a currency at all, and certainly didn't regard it as a competitor to Bitcoin. Of course all of that history is likely now lost on the newbs. They couldn't care less.

We didn't like it then, and still don't like it now. The price does not matter. Hell, I can remember when Adam had quite a bit of Ethereum as part of the initial offering, and in this forum he couldn't even give them away.  No one cared about it.

Just because something's price changes higher, doesn't automatically make it worth anything. Just go ask the thousands of people that were fooled and destroyed by penny stock pump and dumps. Or people destroyed in the Dot Com era by investing in IPO companies.

[404Revolution]

It's altcoin trading that fucks you. Holding ETH from 50 cents in 2015 looks like an unobjectionable move to me.

It’s easy to cherry pick with the benefit of hindsight.  Far too many old school bitcoiners sank their battleship diversifying into alts.

Gentlemand probably already knows this, but one of the reasons that most of us Bitcoin old timers didn't just dive in and scoop up ETH (then ETC) at $0.50 each by the truck load was because all of us actually *did* do the research, and found Ethereum completely lacking in its design, structure, pre-mined nature, rate of issuance, and lack of hard cap limit for either a store of value or as a currency. Even Vitalik warned people right away that he didn't regard ETH as a currency at all, and certainly didn't regard it as a competitor to Bitcoin. Of course all of that history is likely now lost on the newbs. They couldn't care less.

We didn't like it then, and still don't like it now. The price does not matter. Hell, I can remember when Adam had quite a bit of Ethereum as part of the initial offering, and in this forum he couldn't even give them away.  No one cared about it.

Just because something's price changes higher, doesn't automatically make it worth anything. Just go ask the thousands of people that were fooled and destroyed by penny stock pump and dumps. Or people destroyed in the Dot Com era by investing in IPO companies.

Hear ye, hear ye and its high price does not invalidate those original criticisms.

[BitcoinBunny]

Roger Ver and Jihan Wu and their Bcash copy coin strike back?

[gentlemand]

Just because something's price changes higher, doesn't automatically make it worth anything. Just go ask the thousands of people that were fooled and destroyed by penny stock pump and dumps. Or people destroyed in the Dot Com era by investing in IPO companies.

Of course it's creaky shite. But throwing a few dollars at something that may net a large amount of free money down the line is something many here can live with.

If you chucked 100 BTC at it you were fucking certifiable. If you could kiss $500 goodbye when market caps were in the tens of millions then why the hell not?

[El duderino_]

Wrong direction now. Goddamnit.

Hahaha thats epic! i want one 

SELL me one to 😃

[Spaceman_Spiff_Original]

Jimbo on a rampage with forum bug.

Annoying as phuque.

Kept going to cloudflare, kept retrying, kept getting that annoying "another reply has been posted you may wish to review" message, finally find out I'd posted the same message a half dozen times.

I then wasted almost as much time deleting the extraneous messages.

Perhaps Theymos should consider disabling that annoying message during DDoS attacks or other periods of stress on the servers.

Agreed.  Or if there is like >10 messages a minute being posted on a thread.  
We need cutting edge scaling technology for our Wall Observer thread   .

[bikerleszno]

Wrong direction now. Goddamnit.

Hahaha thats epic! i want one 

SELL me one to 😃

Where can we buy it ?

[Fakhoury]

Long time no see bro. We were wondering if you were ok.

Some of us made sporadic attempts to keep your bullish news thread alive.

Welcome back.

My dear Canadian friend, I've missed you so much along with our bullish friends as well.

I've been drowning into the crypto twitter land for a while along with IRL issues but it seems I will be back to our lovely home again.

Yup, I've seen the thread, thank you and for all who tried to awake the thread again, I will probably start posting in it again, much much appreciated.

Wish you all the best and as always, lets keep HODLING, we ain't seen anything yet

Hey Fakhoury!!!

Your Bullish Media Thread has been a favourite of mine, always checking the news and forwarding to friends. Was sad to see it abandoned. Good to have you back and I hope you'll resume posting those juicy, bullish article links for our reading pleasure.

Welcome back!

Hey AlcoHoDL,

Hope you are doing well brother

I'm extremely happy that I've you as a fan of our thread, and most probably I will be back, maybe after few minutes  

Thank you brother

You’re alive my brother from another mother. Thought you’d been hacked or lost all of your coins or something. Happy to see you back man.

Edit - Guys ETH, Litecoin & Rogercoin are all having big gains today. Hopefully they all pile it back into bitcoin ASAP.

My dear dear dear brother, I'm here just drowning in the twitter's crypto land ocean but I'm finally back to my home.

I'm happy to see you all around again my brothers and friends

[Torque]

If you could kiss $500 goodbye then why the hell not?

Yeah, but even the best hodlers from $0.50 would have dumped or traded ETH at $10, $20, or $40. Or some other price point along the way. No way anyone other than maybe Vitalik himself would have held that shiite all the way to today's price.

[JayJuanGee]

How I feel observing this thread for the last couple of months:

HA!

HA HA !  I am clearly the best looking.

RobSteward... You where more courageous than I was!... I stood on the side lanes for at least 1 year before joining the forum. I just kept reading for a year what nonsense JJG was saying and decided I need to step in and put him in his place of mediocre amateur writing!!! The horror!!! ... He really is a terribly bad writer, doesn't appeal too much to the public...
I just had enough of JJG... that was my trigger of joining the forum.

But good luck to you in making it big and becoming a big shot and big talker here in this place!

I'm glad something motivated you to get off your skinny fat ass, even though many of your posts seem to devolve into a kind of nonsensical rambling.  Nonetheless, sounds like you are fighting the "good fight" with your alleged obsession to troll yours truly, and you seem to demonstrate by example that a HODL strategy can work..  and perhaps your participation in this thread has helped you in such HODL resolution, even if such resolution came through osmosis rather than conscientious efforts.

 

[d_eddie]

In all seriousness, what the hell happened last night? We're over 1000 down from when I went to bed. Or is that just the kind of fluctuations we have now?

shake shake shake

Shake it up baby
c'mon c'mon c'mon baby now
come on and work it on out!

Hope they keep shaking just a little bit more. My conservative buy orders haven't been hit yet.

[HairyMaclairy]

Bitcoin Futures (XBT) Debut on Cboe
 
Kevin Davitt - Cboe Senior Instructor

After considerable fanfare, the first U.S. regulated bitcoin futures were launched on Sunday, Dec. 10 at the Cboe Futures Exchange (CFE). The inaugural session and initial week of trading went smoothly.

The first full session, which concluded on Monday Dec. 11, had 4,127 contracts trading. At contract launch, there were three contract expiries for XBTSM futures: January, February and March 2018. Average daily volume (ADV) for XBT futures on week 1 was 2,209 (ADV number is through Thursday.)

Front-Month Futures Dominate

Front-month XBT futures (XBTF8 – January contract) dominated trading volume all week, averaging over 90% of the total futures volume. The preponderance of trade volume in other futures contracts tends also to be in the front-month contract.

Bitcoin spot price fluctuated between $14,765 and $17,920 on the Gemini exchange between the Sunday open for XBT futures and Friday (Dec. 15) at 9:30 a.m. CT when this data was pulled.

The January futures contract traded between $15,000 and $18,850 over the same time frame. The largest intraday range occurred during the first full session. Since then, realized volatility in the cash and futures markets have been relatively muted. However, when addressing bitcoin volatility in 2017, it is arguably always “relative.”

The futures term structure opened in contango and remained that way all week. Contango implies a forward-sloping futures curve with front-month futures trading at a premium to the spot market, and further-dated months trading even higher.
 
Commodity markets exhibit a “normal” or contango term structure most of the time. An understanding of term structure is important if you are new to futures markets.

The big story of the week is the narrowing of the front month to cash premium as the week progressed. On Sunday evening, January futures opened a slight (2.1%) premium to the Gemini cash market. However, that spread widened considerably in the hours that followed. The cash market moved steadily higher between Sunday afternoon and early Monday morning, but the futures did so with noted velocity. January futures briefly traded at a nearly $2,000 (11.9%) premium to the cash market ($18,850 vs. $16,875).

Between midnight Dec. 11 and the early morning of Dec. 14, this premium was largely erased. As you can see from the term structure graph that Russell Rhoads used in his blog about hedging using the XBT futures, the spread had narrowed to about $1,000 (6.0%) by 4 a.m. CT on Monday morning.

At last check (Dec. 15), January was trading at roughly a $450 (2.6%) premium to cash. So, while contango persists, the term structure has flattened a great deal over the course of the first week of trading.

[gentlemand]

Yeah, but even the best hodlers from $0.50 would have dumped or traded ETH at $10, $20, or $40. Or some other price point along the way. No way anyone other than maybe Vitalik himself would have held that shiite all the way to today's price.

Then they're not the real deal and only get model Lambos to play with. Maybe gas engined ones rather than electric or static.

[somac.]

What the hell, I wake up and BTC is down to the 17s and all the alts are up. What happened?

[HairyMaclairy]

If you could kiss $500 goodbye then why the hell not?

Yeah, but even the best hodlers from $0.50 would have dumped or traded ETH at $10, $20, or $40. Or some other price point along the way. No way anyone other than maybe Vitalik himself would have held that shiite all the way to today's price.

I have held from $13.   Still consider myself a bag holder. Smart contracts should be in side chains, not on the main chain. Sharding is the wrong approach.

[gentlemand]

I have held from $13.   Still consider myself a bag holder.

Heartbreaking

[JayJuanGee]

Just came to say Hi and to share something euphoric about the future

What the hell happened to you, since about May-ish?

I have read many speculations about you no longer being with us?