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

[fonzie]

Huobi >30$ below Bitstamp.
I guess that´s bullish isn´t it?

With China effectively dying again, Id much rather them be below Stamp, thats what you would expect. If China isn't leading that can only be a good thing in my eyes.

China is defintely still leading. If China would be out of the game completly we would be already sub 200$
Bitstamp is following every move, altough their moves are more drastic, due to massive short squeezes through Bitfinex.

[TERA]

already 2300btc to get back to the high on bitfinex

[billyjoeallen]

damn what a dumb move closing that short with peanuts for profit.

That wasn't your problem. You did very well there. The problem was that you didn't have enough coins to short because you didn't load up enough below $450.

On bfx you can use USD as collateral to short. I actually could have shorted about 8 times more than I did.

Didn't know that. I'm still new there. Isn't that like naked short-selling? I mean there still has to be someone willing to lend you the coins in a swap, right?

You had to pay a swap cost, I'm assuming. That means if you had a huge pile of coins, you could lend them out without exchange rate risk. Another benefit of having a big stash. The risk isn't any higher than keeping fiat on the exchange.

[oda.krell]

damn what a dumb move closing that short with peanuts for profit.

That wasn't your problem. You did very well there. The problem was that you didn't have enough coins to short because you didn't load up enough below $450.

On bfx you can use USD as collateral to short. I actually could have shorted about 8 times more than I did.

Didn't know that. I'm still new there. Isn't that like naked short-selling? I mean there still has to be someone willing to lend you the coins in a swap, right?

You had to pay a swap cost, I'm assuming. That means if you had a huge pile of coins, you could lend them out without exchange rate risk. Another benefit of having a big stash. The risk isn't any higher than keeping fiat on the exchange.

No naked shorting on bitfinex (unless they run something fishy behind the scenes ). They have a relatively streamlined market system in place that lets the short-seller borrow coins from a holder. Leverage is pretty limited though, last time I used them, it was 2? 2.5? Not that it really matters to me.

[dreamspark]

damn what a dumb move closing that short with peanuts for profit.

That wasn't your problem. You did very well there. The problem was that you didn't have enough coins to short because you didn't load up enough below $450.

On bfx you can use USD as collateral to short. I actually could have shorted about 8 times more than I did.

Didn't know that. I'm still new there. Isn't that like naked short-selling? I mean there still has to be someone willing to lend you the coins in a swap, right?

You had to pay a swap cost, I'm assuming. That means if you had a huge pile of coins, you could lend them out without exchange rate risk. Another benefit of having a big stash. The risk isn't any higher than keeping fiat on the exchange.

Yes there are a few people I know who keep coins on fenix to use as liquidity swaps.

Its not like naked shorting as far as I understand it as when you sell coins you don't have using your USD as collateral Fenix takes those coins that are offered in swaps and then you pay an interest on them so there is no failure to deliver. Im fairly sure there has been points when there was no USD/BTC to lend and therefore unable to take the leverage.

[TERA]

damn what a dumb move closing that short with peanuts for profit.

That wasn't your problem. You did very well there. The problem was that you didn't have enough coins to short because you didn't load up enough below $450.

On bfx you can use USD as collateral to short. I actually could have shorted about 8 times more than I did.

Didn't know that. I'm still new there. Isn't that like naked short-selling? I mean there still has to be someone willing to lend you the coins in a swap, right?

You had to pay a swap cost, I'm assuming. That means if you had a huge pile of coins, you could lend them out without exchange rate risk. Another benefit of having a big stash. The risk isn't any higher than keeping fiat on the exchange.

You are borrowing btc from other traders. Yes there is a swap cost but the swap cost on btc is negligible compared to the swap cost on usd.  USD runs 0.1%-1% per day while btc runs 0.01% per day or less.

[windjc]

damn what a dumb move closing that short with peanuts for profit.

That wasn't your problem. You did very well there. The problem was that you didn't have enough coins to short because you didn't load up enough below $450.

On bfx you can use USD as collateral to short. I actually could have shorted about 8 times more than I did.

Didn't know that. I'm still new there. Isn't that like naked short-selling? I mean there still has to be someone willing to lend you the coins in a swap, right?

You had to pay a swap cost, I'm assuming. That means if you had a huge pile of coins, you could lend them out without exchange rate risk. Another benefit of having a big stash. The risk isn't any higher than keeping fiat on the exchange.

You are borrowing btc from other traders. Yes there is a swap cost but the swap cost on btc is negligible compared to the swap cost on usd.  USD runs 0.1%-1% per day while btc runs 0.01% per day or less.

Yes. Shorting is practically free. You can short 300k a day for less than $100.

[KFR]

http://www.coindesk.com/ceo-bitcoin-officially-bans-china/

[chessnut]

wow big DDOS attack on forum.

there are always big DDOS attacks at lows. I nearly missed the boat last time we hit 400, because DDOS attacks kicked me off the server.

[soullyG]

Yay, Bitcointalk is back up again - damn DDOS attacks are getting more and more frequent.. 

[BRADLEYPLOOF]

Glad we're back up again...getting a little worried...but didn't miss the high sell point!  Had to pay for some hats...https://bitcointalk.org/index.php?topic=512793.0

[chessnut]

Yay, Bitcointalk is back up again - damn DDOS attacks are getting more and more frequent.. 

.... funny how they always happen near capitulation. really makes people panic.

[Cassius]

damn what a dumb move closing that short with peanuts for profit.

That wasn't your problem. You did very well there. The problem was that you didn't have enough coins to short because you didn't load up enough below $450.

On bfx you can use USD as collateral to short. I actually could have shorted about 8 times more than I did.

Didn't know that. I'm still new there. Isn't that like naked short-selling? I mean there still has to be someone willing to lend you the coins in a swap, right?

You had to pay a swap cost, I'm assuming. That means if you had a huge pile of coins, you could lend them out without exchange rate risk. Another benefit of having a big stash. The risk isn't any higher than keeping fiat on the exchange.

You are borrowing btc from other traders. Yes there is a swap cost but the swap cost on btc is negligible compared to the swap cost on usd.  USD runs 0.1%-1% per day while btc runs 0.01% per day or less.

Yes. Shorting is practically free. You can short 300k a day for less than $100.

Not if you get it wrong...

[Todorius]

Yay, Bitcointalk is back up again - damn DDOS attacks are getting more and more frequent.. 

I'm not sure it was a DDoS, pings where fine and it was more like the site was switched off than slowed down. Maybe safety measures to avoid April the first pushing FUD levels to critical mass and breaking space/time

Interesting theory, could well be. But hey, the day is not over yet, still time for a massive amount of FUD. 

[seleme]

Guess I was right about the mini rally this morning. Shame I was sleeping at top 

[chessnut]

Guess I was right about the mini rally this morning. Shame I was sleeping at top 

huh? top? I dont see any top 

[jojo69]

CEO of Bitcoin Officially Bans China

The decision was announced by Bitcoin™ CEO Warren Winkleberg via reddit on Tuesday morning. It was made following extensive discussions with members of the bitcoin community, Chinese exchanges and Dorian S Nakamoto himself.

rofl  sell sell...er buy buyy

[Richy_T]

Lame trolling BS

Why would I give a shit about some foreign debt collection agency or US citizens complain about bypassing sales taxes?

Stop quoting Mah87.  He's been full ripple since he missed the bitcoin boat...

I've been waiting for the opportunity to do a Southpark style "Ripple fight" meme.

[magicmexican]

Bear trap to about 2790 incoming

[chessnut]

Bear trap to about 2790 incoming

good call, seems a tad too low though