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

[alexeft]

So, now is a good time to buy? Or wait a little bit for it to go lower?

Flip a coin. Can't be worse than the advice you will get on this forum. Actually I recall a very old thread doing exactly that.

The user who did that was here a few days back: said it worked as well as, although not better than, TA.

Get flipping

Yeah, I figure TA works well enough (half the time?) to keep those who use it convinced that it's working!

much wisdom

wow

very coins

 

[byronbb]

so are we all going to agree then that satoshi is in fact santa clause and 400k coins are set to fly around the world in a couple days?

No. Satoshi is the NSA and 400k coins aren't going to do anything that any of us here know about.

Paying for their 51% ASIC mega farm.

[2017orso]

so are we all going to agree then that satoshi is in fact santa clause and 400k coins are set to fly around the world in a couple days?

No. Satoshi is the NSA and 400k coins aren't going to do anything that any of us here know about.

Paying for their 51% ASIC mega farm.

They've outsourced all the hard work. They don't need to do anything regarding mining.

[byronbb]

so are we all going to agree then that satoshi is in fact santa clause and 400k coins are set to fly around the world in a couple days?

No. Satoshi is the NSA and 400k coins aren't going to do anything that any of us here know about.

Paying for their 51% ASIC mega farm.

They've outsourced all the hard work. They don't need to do anything regarding mining.

Did you go to 2015 in the DeLorean??

[outofservice]

I think you guys calling a breakout are looking at the wrong line. The current price is nowhere near the original downtrend line (shown in blue). However, the last bounce ended unusually low, creating a new enhanced trendline (in white). The pink area is a resistance. We have broken the white line, but this is of debatable significance, and we have yet to break the blue line.  Also, I would like to see some volume when we do so.

Nice work, Tera.

[byronbb]

so are we all going to agree then that satoshi is in fact santa clause and 400k coins are set to fly around the world in a couple days?

No. Satoshi is the NSA and 400k coins aren't going to do anything that any of us here know about.

Paying for their 51% ASIC mega farm.

They've outsourced all the hard work. They don't need to do anything regarding mining.

Did you go to 2015 in the DeLorean??

Close. It was a strange man with a long white beard in a Lambo. All he said was, "Baaaaahhhhk to the future".

Great Scot!

[BitChick]

so are we all going to agree then that satoshi is in fact santa clause and 400k coins are set to fly around the world in a couple days?

That would be nice.    Of course if Satashi decided to give out coins from the kindness of his/her heart that would perhaps cause the price to drop a bit.  I can't imagine everyone hodling all those coins.  

[jojo69]

Close. It was a strange man with a long white beard in a Lambo. All he said was, "Baaaaahhhhk to the future".

perfect

[solex]

The daily chart on btcchina is building a hell of a base at 3700 ($608). While it could still fall off a cliff it seems a move to the next resistance at 5000 is also likely.

[windjc]

Meanwhile, while I wait for BTC price to become cheaper, I CANNOT believe I am earning 438% interest on 76k on Bitfinex.

At these rates, I will have to be wiring some additional money there soon. I mean, for 100k I can clear over $1000 in interest. Each day. I will double my money in 3 months, basically risk free. That's insane.  A million would net $300k a month at this rate. Surely these are the highest interests rates in the world.

[windjc]

Meanwhile, while I wait for BTC price to become cheaper, I CANNOT believe I am earning 438% interest on 76k on Bitfinex.

At these rates, I will have to be wiring some additional money there soon. I mean, for 100k I can clear over $1000 in interest. Each day. I will double my money in 3 months, basically risk free. That's insane.  A million would net $300k a month at this rate. Surely these are the highest interests rates in the world.

Wow... crazy.

Yeah, and this is on a weekend where the market has basically flatlined. For whatever reason traders are willing to pay insane premiums to trade with other peoples money. Not only that, but when you leverage at Bitfinex you do it with 100% other people's money. Meaning, they hold $1000 of your money and let you trade $2000, but you are paying interest on the entire $2000, not just the $1000 you are borrowing. AND people are paying this!

[MicroFi]

Meanwhile, while I wait for BTC price to become cheaper, I CANNOT believe I am earning 438% interest on 76k on Bitfinex.

At these rates, I will have to be wiring some additional money there soon. I mean, for 100k I can clear over $1000 in interest. Each day. I will double my money in 3 months, basically risk free. That's insane.  A million would net $300k a month at this rate. Surely these are the highest interests rates in the world.

Wow... crazy.

Yeah, and this is on a weekend where the market has basically flatlined. For whatever reason traders are willing to pay insane premiums to trade with other peoples money. Not only that, but when you leverage at Bitfinex you do it with 100% other people's money. Meaning, they hold $1000 of your money and let you trade $2000, but you are paying interest on the entire $2000, not just the $1000 you are borrowing. AND people are paying this!

Are you using insured loans?

[pdawg]

Meanwhile, while I wait for BTC price to become cheaper, I CANNOT believe I am earning 438% interest on 76k on Bitfinex.

At these rates, I will have to be wiring some additional money there soon. I mean, for 100k I can clear over $1000 in interest. Each day. I will double my money in 3 months, basically risk free. That's insane.  A million would net $300k a month at this rate. Surely these are the highest interests rates in the world.

So you are using insured loans?

[windjc]

how risky is it to lend the funds?

If the market crashed to $150 in 5 minutes its probably risky. But they don't allow more than 2 to 1 lending at high volatility times. Like the past month and a half.  

[HairyMaclairy]

how risky is it to lend the funds?

If the market crashed to $150 in 5 minutes its probably risky. But they don't allow more than 2 to 1 lending at high volatility times. Like the past month and a half.  

So if the market dropped more than 50 percent?   Like for example from 1200 to 500?  Good thing Bitcoin also has non volatile periods. 

[windjc]

Meanwhile, while I wait for BTC price to become cheaper, I CANNOT believe I am earning 438% interest on 76k on Bitfinex.

At these rates, I will have to be wiring some additional money there soon. I mean, for 100k I can clear over $1000 in interest. Each day. I will double my money in 3 months, basically risk free. That's insane.  A million would net $300k a month at this rate. Surely these are the highest interests rates in the world.

So you are using insured loans?

Nope, but fortunately there is some historical data to base the risk on. Bitfinex opened during April a few days before the market crashed 80%. When it crashed, loans lost 9% of their principal on an 80% market crash due to orders not being able to be met.   So in my risk assesment, I figure with an 80% market drop, I risk 10-15% of my prinicipal or about 2 weeks of interest. That is a risk I can live with.

[windjc]

basically risk free

Err... your definition of risk and my definition of risk differ slightly.

Perhaps.  But you are heavily invested in Bitcoin, so I doubt they differ that much

[byronbb]

What was Pirateat40 paying??

[windjc]

basically risk free

Err... your definition of risk and my definition of risk differ slightly.

Perhaps.  But you are heavily invested in Bitcoin, so I doubt they differ that much

That is a bold assumption! Also I wonder which is more risky, holding large sums of fiat in your home or holding large sums of bitcoin in your home?

You are not heavily invested in Bitcoin? I'm shocked!

[windjc]

basically risk free

Err... your definition of risk and my definition of risk differ slightly.

Perhaps.  But you are heavily invested in Bitcoin, so I doubt they differ that much

That is a bold assumption! Also I wonder which is more risky, holding large sums of fiat in your home or holding large sums of bitcoin in your home?

You are not heavily invested in Bitcoin? I'm shocked!

Another bold assumption!

Yes. Perhaps I'm just feeling bold today! Sir!