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

[cbutters]

wow... chinese "wall guy" now?

[seleme]

BTW, back to speculation...

Again, I don't have a bloody idea where is this heading.

$180 by Friday.

Adam, can you confirm this?

[porcupine87]

Where the hell is Slovenia, anyway? It's 2014 and I can't believe we don't have better exchange options yet.

Shouldn't you rather ask, where the hell the UK is? Bitstamp operates in the UK!

[GaliX]

China on the move again. For the Americans here, China is a country in Asia. http://en.wikipedia.org/wiki/China

wait. Is China north or south from Mexico?

[nrd525]

shorts on bfx are pushing down hard now.  that means there's gonna be a squeeze.

could you dumb that down a bit for those of us who are unfamiliar with leverage and options?

seriously, bitcoin is the first time I have ever traded anything.

if 'shorts' are pushing down, does the 'squeeze' mean price spikes down? or up?

I really don't get this

Traders are borrowing coins on margin from Bitfinex and selling them into the market.   These traders hope to buy them back cheaper in the future, return the borrowed coins, and pocket the difference.  "Pushing down hard" means traders are borrowing additional coins and selling them into the market, thereby helping to push down the price.   

There are presently 8,116 BTC on loan to short traders at Bitfinex.  These traders are paying on average 27% per year in BTC to borrow them, and at some point in time they will buy them back because they aren't theirs to keep.  If the price goes up instead of down, some may chose to buy back to minimize their loss, thereby adding fuel to the rally.  At this point, other short traders may be running out of margin (they now have insufficient collateral to cover their mark-to-market losses on their short position) and Bitfinex will force them to cover, squeezing people out of their positions. 

I'm not sure if this is true. People can borrow BTC for a very long time, especially if they are paying 27%/year and so long as they are either making money from the trading or through other activities.  If they are making money from shorting they are likely to increase their positions (just like how the people going long have been increasing their positions).  The people who have long positions aren't forced to close them, so why should the shorters?

[seleme]

Go back to school and you will know where Slovenia is. It seems it is leading country for cryptocurrency trading. Still waiting for someone else from respectful country like yours to show something better.
Some have Hitler and Bosh, some have Bush and you, but we have Bitstamp.


Anyway, the 'glitch' was just the begining.


All your bitcoins are belong to us.

According to Wikipedia, Slovenia wasn't even a country until 1991, by which time I was out of school. It was part of Yugoslavia before that, which makes sense. Bitstamp code is to computer engineering as the Yugo was to automotive engineering.

I mean, seriously, how fucked and out of this world and some general knowledge, one has to be to need Wikipedia to find out about Slovenia.

But gues, it's not strange since Bush was on one meeting in Slovenia back at his president time and said - "I'm so glad to finally visit Slovakia."

You Americans are such fucktards sometimes  

Wikipedia is a very useful tool. Like any info, if it is important you will cross check it with other sources.
  My maps all have USSR on them    It says nothing about my formal education, it means only that I am old and don't really have any reason to study Europe. I have no idea what the current divisions in Africa are either. So?  Be assured that I will learn what I need to know before I visit there, since it will probably change three more times before I get there in approximately... oh, never.

Yeah, I've added this to my post:

And then there is that - we don't give a shit about anything that is out of America so we don't have to know about it (unless there's oil there :p)

BTW, you guys are obsessed with Russia. I got "is that Russia?" question many times when talking about two countries I live(d) in - Croatia and Bosnia. And that was pretty close after the wars there that were all over TV's around the world.

Erm, I don't have idea where it is, it must be in Russia  

[KeyserSoze]

If you were as rigorous about objectivity as you are quick to jump to straw man arguments I think you'd find people treated your research as the purely academic work that you claim it to be and would, accordingly be a good deal more respectful and less personal in their rebuttals.

bingo.

[hdbuck]

Where the hell is Slovenia, anyway? It's 2014 and I can't believe we don't have better exchange options yet.

Shouldn't you rather ask, where the hell the UK is? Bitstamp operates in the UK!

the bank accounts are in slovenia  
needless to say your money is safe there.  

[wetroof]

China on the move again. For the Americans here, China is a country in Asia. http://en.wikipedia.org/wiki/China

wait. Is China north or south from Mexico?

china is south of mongolia which is parallel to greenland so south.

[Walsoraj]

China on the move again. For the Americans here, China is a country in Asia. http://en.wikipedia.org/wiki/China

wait. Is China north or south from Mexico?

china is south of mongolia which is parallel to greenland so south.

I'm confused now. IS CHINA IN ASIA OR NOT!?!? 

[TERA]

There's that analyst on here who says that the waves on the chart right now are twice as long as the waves in 2013. If that's true, this might have not have been the final capitulation, but rather the 'second crash' (like the crash to 78). Then the final capitulation would start in a month from now and go to 500 or so. Then we would be trading against the real trendline and not this elevated trendline.

[pinky]

the bank accounts are in slovenia  Roll Eyes
needless to say your money is safe there.  

I can confirm it's safe, we (taxpayers) paid for recapitalization of banking sector. It's enough, for now...

[hdbuck]

The uncomfortable fact for Bitcoin believers is that every major prediction they've made has yet to come true. And as time passes and the inevitable fizzle-out of Bitcoin becomes visible, those believers will splinter. More will drop out of the cult. And the ones who remain will only grow more convinced, more zealous, more eager to share the good news.

http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

 

ouch!
to the moon!

[MAbtc]

I think we see one more push towards $700. It won't break. Then we realize some of this downside pressure...

[Davyd05]

It appears most exchanges are trying to hover at the 300 ema  on the 4hrs chart

 TA'rs confirm it

However I am still surprised at how fast the market can eat info, understand, react, and then move the fuck on

understand and react can switch places depending on how panic mode effects you.

[seleme]

There's that analyst on here who says that the waves on the chart right now are twice as long as the waves in 2013. If that's true, this might have not have been the final capitulation, but rather the 'second crash' (like the crash to 78). Then the final capitulation would start in a month from now and go to 500 or so. Then we would be trading against the real trendline and not this elevated trendline.

We're now trading atround average of these two trendlines (higher, longer period one is rpietilla's and lower one is from this subforum)

https://www.wolframalpha.com/input/?i=10+^+%28+%28+3073%2F1000000+%29+*+%28+number+of+days+since+jan+3%2C+2009%2F+days+%29+-+2.909514+%29

https://www.wolframalpha.com/input/?i=e+^+%28+0.006044++%28+number+of+days+since+jul+17%2C+2010+%2Fdays+%29+-1.82447+%29

[Walsoraj]

Bitstamp's bid sum is ~15 mil USD. It was over 20 mil less than a week ago... bye bye support

 

[GaliX]

China on the move again. For the Americans here, China is a country in Asia. http://en.wikipedia.org/wiki/China

wait. Is China north or south from Mexico?

china is south of mongolia which is parallel to greenland so south.

I'm confused now. IS CHINA IN ASIA OR NOT!?!?  

I just know it's either. You can reach Asia from Mexico either going south or north.

It's strange, my friend tried both ways and he can confirm this.
Still don't know if you can reach China, that's why I asked.

[JorgeStolfi]

After today's roller coaster, I am sure that no one cares to know that the Chinese Slumber Predictions for today, namely 3370 CNY for Huobi and 551 USD fo Bitstamp, were quite off the mark, by 680 CNY and 112 USD, respectively. So I will not tell you that.

You probably don't care to know either that since Huobi's clients were all in bed by 3:00 am,  today is a True Slumber Point.  It would be pointless to observe that, therefore,  the previous trend is no longer valid.  I am sure you don't remember me promising to never again deduce a trend from a single data point,  so you will just ignore my doing so now and will pay no attention to my prediction that tomorrow Wednesday Mar/05 at 19:00--19:59 we will have the same soup that we had today, namely 4050 CNY at Huobi, 663 USD for Bitstamp.  

EDIT: tomorrow is Wednesday not Tuesday, sorry.

[Walsoraj]

China on the move again. For the Americans here, China is a country in Asia. http://en.wikipedia.org/wiki/China

wait. Is China north or south from Mexico?

china is south of mongolia which is parallel to greenland so south.

I'm confused now. IS CHINA IN ASIA OR NOT!?!?  

I just know it's either. You can reach Asia from Mexico either going south or north.

It's strange, my friend tried both ways and he can confirm this.
Still don't know if you can reach China, that's why I asked.

Sounds scientific. I'm sold.