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

[DaRude]

Those considering that gemini 'earn' thingie better read this:

https://www.gemini.com/legal/gemini-earn-program-terms-and-authorization-agreement#section-5-making-loans-to-borrowers

Basically, Gemini is just facilitating your lending. They have no or almost no 'skin' in the game and if the Joe-shmoe (called Genesis or whatever, apparently) ever defaults, say bye-bye to your bitcoin.
For that non-involvement they are being compensated quite nicely:

https://www.gemini.com/fees/gemini-earn-fees#section-fee-schedule

Not that comp is relevant here, but they, gemini, are taking 4.74% themselves, leaving 2.74% to you.
btc is slightly fairer with 3.05 to 1.08 split

What a nice deal overall....not.
We need to earn on DEXes-that's the real way forward.

Wow whole 3% APY and they don't even guarantee your money, where do i sign up (not).

If everyone began to send their coins to these institutions wouldn’t that enable the market manipulators to open larger short positions since there would be more BTC available to borrow?
This in turn would mean that “they” would be able to push the market down harder and faster.
If everyone just kept a hold of their BTC until the moment they wanted to sell then there would literally be no BTC available to borrow to open shorts.
Or am I being too naive here?

Yeah sure you're technically correct. But shorting only works short term. If you believe BTC is inevitable, you can earn interest and buy more BTC cheaper while traders try to hold the price down 
For short profits the mantra is don't give bears opportunity to short, they can use the ammo for flash crashes and other manipulation. But on the other hand if someone wants to bet against BTC i say let them try, just make sure to make them pay for it, i'd need more than 3% and broker guarantee. No free BTC for flash crashes

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[Arriemoller]

If anyone needs a new headset you got 11 hours.
https://www.tradera.com/item/302069/444021790/ljuddampad-telefoni?transactionalEmail=wishlist-reminder&utm_source=wishlist-reminder&utm_medium=email&utm_campaign=transactional_wishlist-reminder&utm_nooverride=1

[OutOfMemory]

Finally a pump not for ants.
Feb. 2nd
Who would have thunk?!

Grayscale?

[Thanos01]

Bitcoin and blockchain in one picture.

[Phil_S]

Finally a pump not for ants.
Feb. 2nd
Who would have thunk?!

Grayscale?

Such pumps are often short-lived... Let's see if we can stay over 35k for 24 hours, at least...

[serveria.com]

If anyone needs a new headset you got 11 hours.
https://www.tradera.com/item/302069/444021790/ljuddampad-telefoni?transactionalEmail=wishlist-reminder&utm_source=wishlist-reminder&utm_medium=email&utm_campaign=transactional_wishlist-reminder&utm_nooverride=1

Is that you, Arrie? 

[aesma]

So it seems RobinHood had a good reason to stop people buying stocks, that wasn't because they're chilling for the big guys : they didn't have the money to actually make the buys, and didn't have coverage anymore to do naked buys since the price was going crazy.

It's not really better for them because they're not actually saying this, instead they're lying about it.

I was wondering if other apps had similar problems and apparently it's the case of eToro, they're now putting short stops on people's positions without their consent, without even telling them, and the only way to remove them is to add money to your account. We're talking about long, non leveraged positions here, so there shouldn't be any need to cover !

[Millionero]

So it seems RobinHood had a good reason to stop people buying stocks, that wasn't because they're chilling for the big guys : they didn't have the money to actually make the buys, and didn't have coverage anymore to do naked buys since the price was going crazy.

It's not really better for them because they're not actually saying this, instead they're lying about it.

I was wondering if other apps had similar problems and apparently it's the case of eToro, they're now putting short stops on people's positions without their consent, without even telling them, and the only way to remove them is to add money to your account. We're talking about long, non leveraged positions here, so there shouldn't be any need to cover !

Can a broker legally sell you out of a long without so much as asking your permission?
I know they have to do it to survive, but if it's illegal, then the broker should default and go out of business.  Not steal your long positions.
Breaking the law to survive is still breaking the law.
If I had to choose between starving and robbing a bank, and I robbed a bank, I would still go to jail for it.
These brokers are robbing people.  Instead of robbing people, the brokers have to eat shit and die, because it's the right thing to do.

[aesma]

Yeah I don't understand how that's possible either.

[ghandi]

As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.

The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.

[Millionero]

As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.

The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.

I read that Robinhood defaults to margin accounts.
But you don't have to use the default.

[ghandi]

The only thing left in this loophole then is probably the 2day-settlement process. Since the stock is "instantly" transfered to you but settlements takes place 2 days later, there may be a serious discrepancy between at which price you "thought" you bought and it which price the stock actually gets settled. So if this goes wildly against the broker/clearing house they may refuse to settle.

But strictly speaking this would not sell your stock, this would just rewind your trade (which for the end user is still bad, but nobody robbed you in this situation. At least if you look at it like a lawyer would )

[Arriemoller]

If anyone needs a new headset you got 11 hours.
https://www.tradera.com/item/302069/444021790/ljuddampad-telefoni?transactionalEmail=wishlist-reminder&utm_source=wishlist-reminder&utm_medium=email&utm_campaign=transactional_wishlist-reminder&utm_nooverride=1

Is that you, Arrie? 

As they would say on wallstreetbets "that's me talking to my buddies while my wife is upstairs with her boyfriend".

[Cryptotourist]

Dear nocoiner n00bs,

FOMO time has arrived for you. Just for you.
Buy BTC at these prices like you mean it, and rest assured that you will enjoy the fruits of your investment - soon.
Stay away from shitcoins, unless you're suicidal. Don't be greedy and ignorant, it's a dangerous combination.

Sincerely yours,

CT


Can we break through now?

[OutOfMemory]

Finally a pump not for ants.
Feb. 2nd
Who would have thunk?!

Grayscale?

Such pumps are often short-lived... Let's see if we can stay over 35k for 24 hours, at least...

Oh, i didn't expect it to stay over $35k.
Lately i get quite happy if a pump is correcting less than 50%
Plus there seems to be constant slight upward pressure, so all is fine.
Maybe we'll see another pump today.

[cAPSLOCK]

As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.

The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.

Not your certificate.  Not your stonk.

[vapourminer]

As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.

rh allows cash accounts too, so if you dont use margin youre ok afaik. at least they havent done anything to my cash buy stuff (including $gme) and i do know they did liquidate margins stuff on $gme (and some others i believe) at pretty much any price they chose.

agree on the Do Not Use bit, but did have fun playing there for a while. i wonder if they will survive this.

[Torque]

Media seems really desperate at this point... 

https://twitter.com/ndrew_lawrence/status/1356253787011371008

Had to look him up. Scott Galloway. Just another bleeding-heart professor who likes to talk out of his ass.

"Galloway is well-known for making bold proclamations and taking positions on the future performance of companies while often being remarkably incorrect in his assessments. Despite becoming well-regarded on television and other media outlets for being a business strategist and leader, his advice and guidance on public equities is regularly incorrect. His notable recent predictions include, at various points, predicting the downfall of Lyft, Tesla, Pinterest, Snap, Twitter, Peloton, Slack, and Uber, all of which have improved in price and outperformed market indices since his prediction."

[Wekkel]

So Scott is all talk and no game?

[Torque]

As far as i have understood it: Robinhood is ONLY giving you a margin account. So they are allowed to liquidate your margin long position, if the prices moves against you.

The interesting part of these "Neobrokers" is just this conclusion: You never buy stocks there.

Not your certificate.  Not your stonk.

Fun Fact: Did you know that you can't even get access to a stonk certificate that you own outright?

Patrick Byrne, the once CEO of Overstock.com (a company he founded and owned) tried to get the actual certs for the stocks he owned. He wanted the physical documents in his hand.

The DTCC gave him the run-around for months and months, and then finally told him to just drop it.

True fucking story.