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

[gandhibt]

Hahha nice rally going on once again

Theorize with me here, I've heard some grumblings if we don't attack the ATH this week blah blah we'll regress by the weekend. I believe another sell off Friday or over the "weak-end" would require some bad enough news or be easily misinterpreted. That being said I would like to just see us consolidate for a whole week and move horizontal which in my opinion would confirm were building a base for our next liftoff.

Stress tests on the Slovenian banking system will be released on Friday evening. Speculation is that the government will have to find 4billion Euro from somewhere to recapitalise its banks. My guess is that they announce a bail-in on Saturday morning (the Cyprus bail-in was also announced on a Saturday morning). Fuck knows what that will do to Bitstamp and the price on other markets.

If memory serves and for what is worth Bitstamp's bank is italian.

Bitstamp is a UK registered company with a Unicredit Slovenia bank account. Unicredit Slovenia is owned by the Italian parent company Unicredit but since they have a Slovenian banking license they follow Slovenian laws. Maybe they'll escape the shitstorm because they have a big parent bank or maybe they'll be dragged into it by the politicians to appease voters that foreigners aren't getting off lightly.

Should I be worried and move my coins out of BitStamp?

Coins are probably fine, fiat is what you should be worried about.

Okay, then I don't have a problem

[1714701175]

1714701175

[seriouscoin]

in a few years once the CNY goes in the toilet china will announce that it will let the free market decide what money should be.


just a heads up.

And you call others trolling?

What a hypocrite.

hehehehe

its a well known fact i constantly troll my own thread

its my favorite pass time

tell me.... are you selling or holding ... or both?

lol
Mtgox API is down .... someone should wake that fat fuck.

i've put myself in a position where i love to see bitcoin move up, and don't care if it moves down.

My trading account is 50/50 ATM

but I hold paper wallets and investments ( 2 year mining contracts ) long term, and this position is much greater than my play money trading account.  

I knew it, long term FTW!

[flynn]

in a few years once the CNY goes in the toilet china will announce that it will let the free market decide what money should be.


just a heads up.

And you call others trolling?

What a hypocrite.

hehehehe

its a well known fact i constantly troll my own thread

its my favorite pass time

ROFL!

[jones31]

i've put myself in a position where i love to see bitcoin move up, and don't care if it moves down.

My trading account is 50/50 ATM

but I hold paper wallets and investments ( 2 year mining contracts ) long term, and this position is much greater than my play money trading account.  

Are those cloud hashing mining contracts?

[adamstgBit]

i've put myself in a position where i love to see bitcoin move up, and don't care if it moves down.

My trading account is 50/50 ATM

but I hold paper wallets and investments ( 2 year mining contracts ) long term, and this position is much greater than my play money trading account.  

Are those cloud hashing mining contracts?

ya

I spent 50BTC

so far, my worst investment ever.

[mbets]

i've put myself in a position where i love to see bitcoin move up, and don't care if it moves down.

My trading account is 50/50 ATM

but I hold paper wallets and investments ( 2 year mining contracts ) long term, and this position is much greater than my play money trading account.  

Are those cloud hashing mining contracts?

ya

I spent 50BTC

so far, my worst investment ever.

I thought cloud hashing did not return well due to increased difficulty. At least that's why I did not get into it. Was I wrong?

[ChartBuddy]

[blacksails]

Wait, what?

[11ams]

A nice alternative right now is cloud mining alts and selling them for BTC.

[seljo]

Wait, what?

Is it over 9000?

[barbs]

Goxxed! perfect.

[fr33d0miz3r]

Where should we go on Bitfinex? To 0.01 or to 50,000?  

[blacksails]

Where should we go on Bitfinex? To 0.01 or to 50,000?  

50.000 sounds sweet to me!

[oda.krell]

[...]

Should I be worried and move my coins out of BitStamp?

Coins are probably fine, fiat is what you should be worried about.

Not sure about that (the "unsafe fiat", that is). Not saying the thought isn't crossing my mind either, but here's a number of reasons why I'm not that worried about the banking situation of Bitstamp:

1) Slovenia =/= Cyprus. Seriously, it's a worthwhile discussion to go through the details, but for several reasons I don't see Slovenia at a real risk for a "bail in". To name a few: bigger country, higher risk of domino effect. less foreign account holders than cyprus to my knowledge. EU already made an example of Cyprus.

2) even in cyprus, there was no "all banks bail in", I hope people know that. In particular this means that Unicredit Slovenia, a subsidiary of the Italian Unicredit, is nowhere near the level of risk of the Slovenian *state banks*, that are the main cause of the problem the Slovenian banking landscape faces.

That said, if you want to be safe, convert to btc. If you want to be really safe, withdraw those coins. Personally, I don't think it's necessary though.

[seleme]

Wow, trading on Bitfinex margin platform is such fun. One minute you're $1.5k down, next few hundreds up

[gandhibt]

[...]

Should I be worried and move my coins out of BitStamp?

Coins are probably fine, fiat is what you should be worried about.

Not sure about that (the "unsafe fiat", that is). Not saying the thought isn't crossing my mind either, but here's a number of reasons why I'm not that worried about the banking situation of Bitstamp:

1) Slovenia =/= Cyprus. Seriously, it's a worthwhile discussion to go through the details, but for several reasons I don't see Slovenia at a real risk for a "bail in". To name a few: bigger country, higher risk of domino effect. less foreign account holders than cyprus to my knowledge. EU already made an example of Cyprus.

2) even in cyprus, there was no "all banks bail in", I hope people know that. In particular this means that Unicredit Slovenia, a subsidiary of the Italian Unicredit, is nowhere near the level of risk of the Slovenian *state banks*, that are the main cause of the problem the Slovenian banking landscape faces.

That said, if you want to be safe, convert to btc. If you want to be really safe, withdraw those coins. Personally, I don't think it's necessary though.

Okay, ty. I'll be probably all BTC anyway so maybe the risk is quite small. I should look into the subject with time thou before Friday.

[fr33d0miz3r]

BTW, we broke the support provided by 2-, 5-, 10- and 14-day EMAs again.



Hi, bear!

[nagnagnag2]

why is mtgox api down? (is there an thread?)

[gandhibt]

So tonight the fiat cannons start to sing once again? Blowing those walls to the ground!

[Walsoraj]

Check 1d at Moody. Such classic.

Yall know what to do.