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

[pacman7331]

That’s what the futures market is.

I thought the futures was just about shorting bitcoin with wall street forces.

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[HairyMaclairy]

In theory the futures market is so producers (miners) can lock in the sale price of their goods (BTC) when produced in the future. A miner is a natural short because they have to sell to cover electricity costs. Companies with a future need to consume BTC can hedge against soaring prices.

Of course it doesn’t work that way in reality.  

[JayJuanGee]

I think anyone who buys a pen worths thousands of dollars is a little bit mentally retarded.

You can stab people with it, stick up your jacksy, or even one's urethra, plug holes in aircraft fuselages to prevent depressurisation and use it to deliver children if there's no hot water and towels to hand.

Can a Lambo do any of that?

With a pen, you can perform emergency tracheotomies, too.

[pacman7331]

In theory the futures market is so producers (miners) can lock in the sale price of their goods (BTC) when produced in the future, and companies with a future need to consume BTC can hedge against soaring prices.

Of course it doesn’t work that way in reality. 

Huh... I guess that sort of stabalizes the volitility a bit.
Are these contracts transparent?

[gembitz]

I think anyone who buys a pen worths thousands of dollars is a little bit mentally retarded.

You can stab people with it, stick up your jacksy, or even one's urethra, plug holes in aircraft fuselages to prevent depressurisation and use it to deliver children if there's no hot water and towels to hand.

Can a Lambo do any of that?

With a pen, you can perform emergency tracheotomies, too.

 

weee

[suspiciously square]

I think anyone who buys a pen worths thousands of dollars is a little bit mentally retarded.

You can stab people with it, stick up your jacksy, or even one's urethra, plug holes in aircraft fuselages to prevent depressurisation and use it to deliver children if there's no hot water and towels to hand.

Can a Lambo do any of that?

With a pen, you can perform emergency tracheotomies, too.

The Little Dutch Boy could have saved Haarlem from flooding by putting a pen in the dike instead of his finger, too.

[suspiciously square]

The Asian stock markets are now crashing like Wall Street. Meanwhile bitcoin's gone back up above $8000. Thankfully the investors seem to be buying into it rather than selling it like they are selling those stocks.

[d_eddie]

I must say:

It's been very reassuring to see certain views being challenged in this thread which have been left to pass by without comment before.

I was beginning to wonder, now I find I am not alone. Respect to those who spoke up, it was about time.

'nuff said.
On with WO nonsense in all its flavours.

Thanks, but sometimes it's better to ignore and hope it dies a natural death. 

Yes, it's soothing to be able to glide over it sometimes. You can't engage permanently.

Ya gotta pick your battles.

Or let them pick you, as it happens 

[d_eddie]

You can stab people with it, stick up your jacksy, or even one's urethra, plug holes in aircraft fuselages to prevent depressurisation and use it to deliver children if there's no hot water and towels to hand.
Can a Lambo do any of that?

No. But I did pick up two of these.

https://www.vipertecknives.com/products/guard-father-spike-automatic-otf-icepick

Jam them into my urethra every morning as part of my morning workout, right after I finish my sets of slamming my testicles between two bricks.

You have strange customs in your country.

Only the biggest stars have customs so extravagant. Now Bob doesn't like to boast too much, so he didn't mention that the bricks are actually gold-plated tungsten, food grade. With repeated use, they eventually get soft-sculpted by thousands of impressions of impressively hard kidney beans.

[RoomBot]

The Asian stock markets are now crashing like Wall Street. Meanwhile bitcoin's gone back up above $8000. Thankfully the investors seem to be buying into it rather than selling it like they are selling those stocks.

The rats are abandoning the sinking ship.

go, BTC!

[HairyMaclairy]

The Asian stock markets are now crashing like Wall Street. Meanwhile bitcoin's gone back up above $8000. Thankfully the investors seem to be buying into it rather than selling it like they are selling those stocks.

If investors decide that BTC is a safe haven asset during a financial crisis, then I hope you brought a spare pair of knickers.  My safety word is “carrots”. 

[RoomBot]

The Asian stock markets are now crashing like Wall Street. Meanwhile bitcoin's gone back up above $8000. Thankfully the investors seem to be buying into it rather than selling it like they are selling those stocks.

If investors decide that BTC is a safe haven asset during a financial crisis, then I hope you brought a spare pair of knickers.  My safety word is “carrots”. 

Hand me my brown pants, sir!

[Deeyoh]

I logged into my main financial institution and Lord Jesus Christ I have not seen red this bad in a long while.

Main US fiatcoin portfolios are down 1.8% today. Nothing in the green at all.

Pretty amazing, actually.

Yeah, told ya that bubble wasn't looking to good.  Hope your fiat investors are holding your cash tight.

[cAPSLOCK]

I think anyone who buys a pen worths thousands of dollars is a little bit mentally retarded.

Useful artwork is retarded?  Maybe you're  just poor.  I have 2 cigarette lighters that together are worth well over $10k.  I assure you that I am no where near mentally retarded.  Small scale Lambo's.  That's all.  I don't smoke.  Maybe I need a pen...

Or maybe hes just recognizes spending $10K on a pair of lighters or owning lighters worth that much is pretty fucking stupid. I dont care If someone bought BTC in 2010 and are worth 8 figures, respectable people dont go around calling people poor because they dont buy $3000 pens or $5000 lighters.

Welcome noob.  FYI not many of us here are worried about being respectful...

[d_eddie]

(snips sprinkled)

1) chained order is a little bit of an additional concept (...)

2)  example of incremental / step setting in the $8k price territory using a ball park of $500 buy/sell increments. (...)

(And so on. A beautiful, detailed explanation in language dry enough to taste delicious given its origin.)

So you can write in an orderly manner when you give up your urban stream of consciousness style. Next piña is on me.

You remove the "other side" order at the point you just filled, otherwise they will cancel out for sure.

I don't think that "remove" is the correct word choice.  I find that when I am playing this whole system and it is going smoothly, then I am never really removing anything, but I am just adding.  Once a buy order executes, then I add a sell order, and once a sell order executes, then I add a buy order.  

On that same point, I tend to let the price come to me, and rarely do I tweak to reset the order and to expedite the process.   Sometimes, I will change a whole bunch of orders at once which is a kind of removal and replace, but that is not part of the regular practice when the practice is "flowing" then I am only adding orders, not removing orders.

(...)

I am not sure if your example helps.... O.k. we are going with a $500 increment, but if my order to sell at $8,500 executes, then I am not removing anything because I just add a buy order at $8k (because my previous sell had executed at $8k, and I could not do anything until either the next $8.5k sell order executed or the next $7.5 buy order executed.  If the price had gone down rather than up, then my $7.5k order would have filled and I would have set a sell order at $8k rather than the buy order that I ended up setting because of the $8.5k sell order that ended up executing first.

Probably, we are saying the same thing, just phrasing it differently.

Yes, I think I got your system right, but I pictured it as a double (buy/sell) ladder of orders already set up in advance. You watch them fill and remove debris/fix things. Like your buy at $8k is already there (it became relevant after selling at $8.5k).

3) The whole system is not a wash because you are able to either buy more BTC with the same amount of money or accumulate more money by the size of your orders.  If you keep the exact BTC amounts, then you accumulate dollars; if you keep the same dollar amounts then you accumulate BTC (or you can do some combination of the two).  Recently, I have been working on accumulating more
BTC with my orders.  

On the other hand, I kind of considered this in the background but honestly wasn't sure - I didn't run the numbers to check, so I kept my mouth shut with jojo69, who used the word "mostly" just a couple of positions out of place.

OK, so for the most part, they still cancel out, you are just harvesting (mostly, ed.) at reversals.

If it runs straight up 4 sells, then straight down 4 buys you (mostly) only have one "win"

Well yes - mostly. The effect of trades in middle points starts small and builds up, as JayJuanGee explained  

[d_eddie]

*sigh* no. IQ tests are simply pattern recognition. There is nothing cultural about it.

Pattern recognition has nothing cultural about it? I disagree. Try a "spot the pattern" competition in the Amazon forest against a local. Yes, you can use your calculator if needed (hint: it won't be).

[explorer]

*sigh* no. IQ tests are simply pattern recognition. There is nothing cultural about it.

Pattern recognition has nothing cultural about it? I disagree. Try a "spot the pattern" competition in the Amazon forest against a local. Yes, you can use your calculator if needed (hint: it won't be).

Do you often use a calculator for abstract cognitive functions?

[rafanadal]

Is 8k gonna hold ? what do you guys think ?

[TERA2]

[d_eddie]

Dear Mom,

(private mom stuff removed).

Love,

P.S. Send more of those lightning-nodes. They were tasty, but not nearly enough to sustain me.

https://bitcointalk.org/index.php?topic=2905720.new#new

Thank you son, that was really sweet. Sorry can't send you nodes atm, still hodling them in the oven. In the meantime, I'm sending you a couple crunchy merits to chew on.

P.S. You look gorgeous in the pic. So like your father!