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

[macsga]

And not a single hairy, male bottom.

WE BTC

There you go

[WeltMaster]

Where'd all the sellers go

Not seen a 10+ market sell on gox in about half an hour.

[byronbb]

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run?  

Shorts always have to cover eventually, unless it goes to zero, which is obviously impossible.  Moreover, unlike futures markets, shorting BTC by proxy does not increase the BTC float.  The more the Winklefloss gets shorted, the more demand there is for Winklefloss, and the more BTC they buy, removing it from the market.  Only redemptions (if the fund allows them) can free those coins to float on an exchange.

What I dont understand is how the SEC will approve this when the underlying market is a shady Chinese exchange, a shady Russian exchange, a shady Japanese exchange, and Bitstamp (less shady but still in Slovenia).

[seriouscoin]

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run?  

Shorts always have to cover eventually, unless it goes to zero, which is obviously impossible.  Moreover, unlike futures markets, shorting BTC by proxy does not increase the BTC float.  The more the Winklefloss gets shorted, the more demand there is for Winklefloss, and the more BTC they buy, removing it from the market.  Only redemptions (if the fund allows them) can free those coins to float on an exchange.

What I dont understand is how the SEC will approve this when the underlying market is a shady Chinese exchange, a shady Russian exchange, a shady Japanese exchange, and Bitstamp (less shady but still in Slovenia).

Get off your high horse , american....?

Name me one US Bitcoin exchange thats any better? Calling foreign exchanges shady because they're not in US? STFU already.

Is Tradehill better for you?

Oh and what about mining manufacture? Hashfast and BFL are what you're craving about?

[byronbb]

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run?  

Shorts always have to cover eventually, unless it goes to zero, which is obviously impossible.  Moreover, unlike futures markets, shorting BTC by proxy does not increase the BTC float.  The more the Winklefloss gets shorted, the more demand there is for Winklefloss, and the more BTC they buy, removing it from the market.  Only redemptions (if the fund allows them) can free those coins to float on an exchange.

What I dont understand is how the SEC will approve this when the underlying market is a shady Chinese exchange, a shady Russian exchange, a shady Japanese exchange, and Bitstamp (less shady but still in Slovenia).

Get off your high horse , american....?

Name me one US Bitcoin exchange thats any better? Calling foreign exchanges shady because they're not in US? STFU already.

Is Tradehill better for you?

Oh and what about mining manufacture? Hashfast and BFL are what you're craving about?

WAT? Seriously. BTCE isnt shady?? No one even knows the people who RUN IT. Gox has proven to be a total joke, and the Chinese exchanges are running on technical loopholes in defiance of their government with zero trade fees. As for Slovenia the banking industry is shaky. SO GTFO euro scum.

[Kouye]

WE BTC
There you go

That looks more like back(ing force) than consecutive bottoms.
Plus, that's hardly hairy.

[fotosonics]

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run?  

Shorts always have to cover eventually, unless it goes to zero, which is obviously impossible.  Moreover, unlike futures markets, shorting BTC by proxy does not increase the BTC float.  The more the Winklefloss gets shorted, the more demand there is for Winklefloss, and the more BTC they buy, removing it from the market.  Only redemptions (if the fund allows them) can free those coins to float on an exchange.

What I dont understand is how the SEC will approve this when the underlying market is a shady Chinese exchange, a shady Russian exchange, a shady Japanese exchange, and Bitstamp (less shady but still in Slovenia).

Get off your high horse , american....?

Name me one US Bitcoin exchange thats any better? Calling foreign exchanges shady because they're not in US? STFU already.

Is Tradehill better for you?

Oh and what about mining manufacture? Hashfast and BFL are what you're craving about?

WAT? Seriously. BTCE isnt shady?? No one even knows the people who RUN IT. Gox has proven to be a total joke, and the Chinese exchanges are running on technical loopholes in defiance of their government with zero trade fees. As for Slovenia the banking industry is shaky. SO GTFO euro scum.

Murican here. Excuse me but isn't bitcoin here at least in part because every banking industry is shaky?

And now for your entertainment.

The Fall of Proudhon

http://www.grapheine.com/bombaytv/webdesign-en-b01792ed4e58814429d58c8a842e2f0b.html

[macsga]

WE BTC
There you go

That looks more like back(ing force) than consecutive bottoms.
Plus, that's hardly hairy.

That's irrelevant. It still stands as legit TA.

CCMF!

[notme]

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run?  

Shorting is a neutral activity. When you short, you sell now and have to buy back in later within the amount of time you're able to borrow the underlying commodity. The media loves to jump all over shorters because short selling, like any selling, can push the price down. Those same sellers are forced to buy back in though, potentially causing a bounce or creating a bottom, reversing the initial price movement.

Traders like me love the ability to short because it allows you to profit regardless of which direction the market is moving. The only thing that matters then is the percentage that the price is moving whether up or down because that is your potential profit.

Market looks strong -> buy
Market looks weak -> short.

Shorting is only helpful when it is profitable.  If the shorters are incorrect, it leads to a short squeeze which adds volatility.

True. Some people like volatility though. Isn't that why we're all investing in Bitcoin and not General Motors?

I'm in bitcoin because I think it is a revolutionary, freedom enabling, decentralized currency.  I accept that volatility will likely exist in the exchange rate, but that's not why I'm here.

[seriouscoin]

http://seekingalpha.com/news/1514731-report-prospects-for-winklevoss-bitcoin-etf-approval-look-good

ETF review going smoothly, once it is approved we can properly short!

I thought too much shorting hurt the price in the long run?  

Shorts always have to cover eventually, unless it goes to zero, which is obviously impossible.  Moreover, unlike futures markets, shorting BTC by proxy does not increase the BTC float.  The more the Winklefloss gets shorted, the more demand there is for Winklefloss, and the more BTC they buy, removing it from the market.  Only redemptions (if the fund allows them) can free those coins to float on an exchange.

What I dont understand is how the SEC will approve this when the underlying market is a shady Chinese exchange, a shady Russian exchange, a shady Japanese exchange, and Bitstamp (less shady but still in Slovenia).

Get off your high horse , american....?

Name me one US Bitcoin exchange thats any better? Calling foreign exchanges shady because they're not in US? STFU already.

Is Tradehill better for you?

Oh and what about mining manufacture? Hashfast and BFL are what you're craving about?

WAT? Seriously. BTCE isnt shady?? No one even knows the people who RUN IT. Gox has proven to be a total joke, and the Chinese exchanges are running on technical loopholes in defiance of their government with zero trade fees. As for Slovenia the banking industry is shaky. SO GTFO euro scum.

Oh so is there any US exchange thats any better? Actually Tradehill was a straight out scam.

[adamstgBit]

btw i have moved from a sophisticated strategy (buy on Monday and sell on Friday) to watching Adam's post of BUY BUY BUY or SELL SELL SELL....

i hate to use this " if i can do it, you can do it"  

 BUY BUY BUY

 

SELL SELL SELL

lmao

[Davyd05]

let say 850 low for the day on gox, with a super bounce off it D: ttyl

damm we didn't even make 850 did we... oh well bounce harder than this please

[macsga]

btw i have moved from a sophisticated strategy (buy on Monday and sell on Friday) to watching Adam's post of BUY BUY BUY or SELL SELL SELL....

i hate to use this " if i can do it, you can do it"  

 BUY BUY BUY

 

SELL SELL SELL

lmao

WHAT? Don't listen to Adam! He's only here for the DOGE!
Much troll. Such lol!  

[adamstgBit]

btw i have moved from a sophisticated strategy (buy on Monday and sell on Friday) to watching Adam's post of BUY BUY BUY or SELL SELL SELL....

i hate to use this " if i can do it, you can do it"  

 BUY BUY BUY

 

SELL SELL SELL

lmao

WHAT? Don't listen to Adam! He's only here for the DOGE!
Much troll. Such lol!  

this is true.

[MAbtc]

Oh so is there any US exchange thats any better? Actually Tradehill was a straight out scam.

I'm from the US. I wouldn't touch Coinbase with a barge pole.

[macsga]

We must introduce this guy to bitcoin and bitcoin to this guy. Amazing speech!
http://www.upworthy.com/one-of-matt-damons-finest-performances-was-never-in-theaters?c=ufb1

[adamstgBit]

Oh so is there any US exchange thats any better? Actually Tradehill was a straight out scam.

I'm from the US. I wouldn't touch Coinbase with a barge pole.

but but bloomberg recommends Coinbase

[macsga]

I think I'll call it a day. Feel free to CCMF without me, will bitch at you in the morning. Cheers.

[adamstgBit]

[ChartBuddy]

Explanation