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

[ChartBuddy]

Done with Gox
Explanation

[1714146287]

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[1714146287]

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[solex]

The "200,000" traders (if that number is to be believed) do not own any bitcoins on eToro. They can't deposit or withdraw. Their accounts are CFDs. They trade instantly with eToro.
eToro must hold BTC in order to be risk neutral for its own book. The daily order execution is eToro, as market-maker, buying and selling on a Bitcoin exchange to hedge the net long/short position of all the traders.  They must have their own long-term prop fund to use as well.

thank you. I did not understand CFD's. Now I do. seems a decent gambling book. prudent to step up their execution schedule when dealing with bitcoin, though they might want to go at least hourly... bitcoin likes to move it move it.

No surprise that CFDs are illegal in the USA, but invented and legal in the Wild West of Fiat (also known as London) where AIG's traders ran that company into a bankrupt state and JP Morgan's whale trader lost them billions too.

[vokain]

Here is some good news:

http://www.bloomberg.com/news/2014-02-11/lawsky-says-new-york-will-adapt-money-transfer-rules-for-bitcoin.html

woohoo CCMF

Well, if "Shroomskit's Law" (all positive news about BTC precipitates a sell off) then we should see a further dip in the price 

yeah that's been the norm haha

[PoolMinor]

Found in the near future, lookout hodlers.

[spooderman]

ghash.io needs to be fucked up again. ugh.

[windjc]

Here is some good news:

http://www.bloomberg.com/news/2014-02-11/lawsky-says-new-york-will-adapt-money-transfer-rules-for-bitcoin.html

woohoo CCMF

Well, if "Shroomskit's Law" (all positive news about BTC precipitates a sell off) then we should see a further dip in the price 

yeah that's been the norm haha

Of course. I'm trying to drive down the price. Cheap coins ftw!

[shmadz]

Adam I am so mad, I didn't dump fiat in cavirtex ..though I knew I should've all the cheaper coins are not going to be mine

cheap coins at virtex? I think you're looking in the wrong place.

While btc-e fell to 100 virtex only reached 650 (yes, still bitter my 636 bid never got filled)

there are no cheap coins at virtex.

even worse, check https://www.vaultofsatoshi.com/orderbook

right now as I post this, if you wanted to buy a single bitcoin it would run up to 800 bucks.

canadians are a bunch of dreamers,

[molecular]

received more "insight" on that february 2014 "event" from those nutjobs (?) at the farsight institute.

just dropping here for -- I don't know -- entertainment?:

_Implications Posting #4:_

_Above all else, those who govern seek to control what the masses accept as true, and there is nothing that they will not do in order to achieve this since it is the sole source of their power. The belief that those who govern would not brazenly manipulate knowledge simply for their own benefit is the single most important belief that supports their continued reign. This belief always leads to confusion, despair, and relentless cynicism from within the ranks of those who are controlled. Once this belief is abandoned, free will returns absolutely, and great change is inevitable._

_Notes:_
_1. This is one of a series of “Implications Postings” that refer to an announcement that will be made during the month of February 2014. Once made, news of this announcement will be available at www.farsight.org and elsewhere._
_2. These postings are designed to encourage broad public discussion of the February 2014 announcement. They do not directly address the specific content of the announcement._

[creekbore]

.... the Wild West of Fiat (also known as London) where AIG's traders ran that company into a bankrupt state and JP Morgan's whale trader lost them billions too.

Oh Yes!

If you are interested in these things you should check out the last edition (1358) of Private Eye: Rothschild and BArclays have come up with a synthetic hedge fund that will raise up to 10billion GBP via the sale of toxic student loans, while simultaneously taking the loans off the govt books.  It is described as making PFI "look transparent and straightforward".

[sidhujag]

The "200,000" traders (if that number is to be believed) do not own any bitcoins on eToro. They can't deposit or withdraw. Their accounts are CFDs. They trade instantly with eToro.
eToro must hold BTC in order to be risk neutral for its own book. The daily order execution is eToro, as market-maker, buying and selling on a Bitcoin exchange to hedge the net long/short position of all the traders.  They must have their own long-term prop fund to use as well.

thank you. I did not understand CFD's. Now I do. seems a decent gambling book. prudent to step up their execution schedule when dealing with bitcoin, though they might want to go at least hourly... bitcoin likes to move it move it.

No surprise that CFDs are illegal in the USA, but invented and legal in the Wild West of Fiat (also known as London) where AIG's traders ran that company into a bankrupt state and JP Morgan's whale trader lost them billions too.

You gotta read the finelines of a scumbucket market maker to know what your up against in the event of an extreme move such as everyone going long at the same time... One I had in Australia said they essentially put all of the pool of money into one account and find out final exposure before sending a cfd trade off to the bank.. that or they will just take the opposite side if they are under exposed on one side too much...

In their fine print they also stated that the account may be comprimised to pay for any legal fees in the event of bankruptcy.. essentially saying they would use all of the balances first then any ccoollateral they have to balance liabilities.

Also cfd will expire so you have to keep buying and pay daily fees on rollover charges since the direction where majority are trading are usually more beneficial to have a positive swap for the broker. This avoids ppl holding too long.. and doesnt stop people from losing their accounts to margin calls.

Very slimy game it is. I dont recommend cfd to anyone.

Funny why even charge a swap if there is no interest rate differential?

[creekbore]

Here is some good news:

http://www.bloomberg.com/news/2014-02-11/lawsky-says-new-york-will-adapt-money-transfer-rules-for-bitcoin.html

woohoo CCMF

Well, if "Shroomskit's Law" (all positive news about BTC precipitates a sell off) then we should see a further dip in the price 

yeah that's been the norm haha

Of course. I'm trying to drive down the price. Cheap coins ftw!

LOL....you damn troll  

[podyx]

ghash approaching 37% https://blockchain.info/pools?timespan=24hrs

why does this keep happening??

[molecular]

ghash approaching 37% https://blockchain.info/pools?timespan=24hrs

why does this keep happening??

because of cex.io, I guess.

[podyx]

 

I can store bitcoins on here??

can u link me to the site?

[scarass]

A bird whispered its time to hodl 

[podyx]

here is some fresh entertainment in the morning 

https://www.youtube.com/watch?v=NI9z7gMpeE4

5:27 LOL

[podyx]

somebody took a dump on bitstamp??

[Davyd05]

somebody took a dump on bitstamp??

no they bought coins

[Asrael999]

ghash approaching 37% https://blockchain.info/pools?timespan=24hrs

why does this keep happening??

because if you are a miner they are a 0 fee pool?   As opposed to BTC Guilds 3%

Complain about BTCGuild for charging way to much as well as about ghash.io...  The pool fee at BTCGuild is worth $12,000 a day, or roughly $4,250,000 a year as long as they maintain approx 18% of the hashrate and BTC is at $600

[podyx]

ghash approaching 37% https://blockchain.info/pools?timespan=24hrs

why does this keep happening??

because if you are a miner they are a 0 fee pool?   As opposed to BTC Guilds 3%

Complain about BTCGuild for charging way to much as well as about ghash.io...  The pool fee at BTCGuild is worth $12,000 a day, or roughly $4,250,000 a year as long as they maintain approx 18% of the hashrate and BTC is at $600

i see, i guess this will turn out fine though right?