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

[aminorex]

monkey wants to go up over the next half hour

[1715375710]

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[1715375710]

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[JayJuanGee]

Finally I have found this article embodied in a gif.

THEY say don't quote the troll; however, it seems really strange to have a supposed moderator spreading such FUD (from March 2014).  Blitz   - you keep posting links to that bullshit FUD article... over and over and over... And your frequent posting of such FUD article does NOT cause the article to become true, when the article is in fact a bunch of bullshit.

[JayJuanGee]

Wow!!!!   From where do you get your statistics? 

Perhaps new addresses, from blockchain.info?

Perhaps, NOT... why did you snip my text? 

Most of us should realize that  wallet address on blockchain.info do NOT necessarily reflect people...   If we were getting 80k new bitcoin users per day, then that would be about 29million new users a year, and we are lucky to have 7 million users in total, at the moment.  In other words, we need some better explanation about why anyone would assert that there are anywhere near 80k new users on any given day or in any given month for that matter.  A month is more possible, but I would still like to understand the source for such info.

[rjp55]

Finally I have found this article embodied in a gif.

THEY say don't quote the troll; however, it seems really strange to have a supposed moderator spreading such FUD (from March 2014).  Blitz   - you keep posting links to that bullshit FUD article... over and over and over... And your frequent posting of such FUD article does NOT cause the article to become true, when the article is in fact a bunch of bullshit.

I've never seen such a clown of a moderator on any board. He sounds butthurt to me.

[tarmi]

1 trade on stamp in 5 min.

market seems confident. 

[JayJuanGee]

Wow!!!!   From where do you get your statistics?  

Perhaps new addresses, from blockchain.info?

https://bitcointalk.org/index.php?topic=441336.msg4848980#msg4848980
https://bitcointalk.org/index.php?topic=441336.msg6893997#msg6893997

Maybe I do NOT understand graphs and charts, sufficiently, but I do NOT see where in that information there is an indication of 80k new bitcoin users per day?

[N12]

More interesting, actually new stuff: http://www.businessinsider.com/tim-swanson-on-bitcoin-economy-2014-6

Some points I found stupid (particularly the comparison with credit cards), but most of it was quite good.

[MatTheCat]

Longterm trend not broken, heading back up already

Obviously some big players just manipulated the market down so they can get their bids in at the last moment for some cheap coins. I hope nobody SODL.

Longterm trend breached with about 2200 BTC selling pressure taking Bitcoin down to $572. No fucking doubt about it. That long term trendline was breached. Since then however, we have had around 500 BTC of trade that has taken Bitcoin back up to just above the trendline to $582.

The next few hours/days will show us which way the market is headed, but there must be a lot of leveraged longs on Bitfinex (providing that their data isn't just a big pile of fake shit) who must be feeling the strain of a flat/downtrending market combined with the usurious daily compound interest rates they are paying for their positions.

[JayJuanGee]

Finally I have found this article embodied in a gif.

THEY say don't quote the troll; however, it seems really strange to have a supposed moderator spreading such FUD (from March 2014).  Blitz   - you keep posting links to that bullshit FUD article... over and over and over... And your frequent posting of such FUD article does NOT cause the article to become true, when the article is in fact a bunch of bullshit.

I've never seen such a clown of a moderator on any board. He sounds butthurt to me.

Yes, it seems strange and puzzling to have such a supposed moderator with such baggage and obsession with spreading disinformation.

[N12]

The next few hours/days will show us which way the market is headed, but there must be a lot of leveraged longs on Bitfinex (providing that their data isn't just a big pile of fake shit) who must be feeling the strain of a flat/downtrending market combined with the usurious daily compound interest rates they are paying for their positions.

Given that Bitfinex has decided to insure the entirety of its lenders (going so far as to rather make traders pay by canceling their trades in extreme situations), shouldn't it be the case that interest rates ought to have decreased? It seems to me that that's one big risk factor gone for everybody. Maybe it was indeed? I haven't been watching.

Edit: It just occured to me that this is easy to pin down. On their announcement page, the date is 16th March, and we can look at http://www.bfxdata.com/ to track interest rates over time. I don't see any discernible effect attributable to it since then.

[ShroomsKit]

Finally I have found this article embodied in a gif.

THEY say don't quote the troll; however, it seems really strange to have a supposed moderator spreading such FUD (from March 2014).  Blitz   - you keep posting links to that bullshit FUD article... over and over and over... And your frequent posting of such FUD article does NOT cause the article to become true, when the article is in fact a bunch of bullshit.

I've never seen such a clown of a moderator on any board. He sounds butthurt to me.

Extremely butt hurt. He's like a classic example of butt hurt. Probably made some very nasty mistakes with his coins and now hates every day we're going up.
Never ever have i've seen such a tool as a mod. He's like the forum clown.

[N12]

Extremely butt hurt. He's like a classic example of butt hurt. Probably made some very nasty mistakes with his coins and now hates every day we're going up.
Never ever have i've seen such a tool as a mod. He's like the forum clown.

Bitcoin has already made me wealthy and I would like to stay wealthy, thus I try keep my mind agile and free from cultists' poisonous thoughts who only seek to become like me because they came (much) later, and are intellectually dishonest about Bitcoin.

It would be good for your character if you stopped accusing anyone with an opinion to your disliking, and if you were to be more open to arguments. But unfortunately, that seems to be the modus operandi for many here. False accusations with nothing backing them up.

Oh, and just because I'm a moderator doesn't mean I don't get to have opinions dissident from some of you guys.

It does speak of certain irony of course to have shroomsy, someone who is non stop crying over the market, call anyone butthurt.

[aminorex]

shouldn't it be the case that interest rates ought to have decreased?

The average rate in 6 months prior is higher than the average rate in 6 months posterior.

[hyphymikey]

The next few hours/days will show us which way the market is headed, but there must be a lot of leveraged longs on Bitfinex (providing that their data isn't just a big pile of fake shit) who must be feeling the strain of a flat/downtrending market combined with the usurious daily compound interest rates they are paying for their positions.

Given that Bitfinex has decided to insure the entirety of its lenders (going so far as to rather make traders pay by canceling their trades in extreme situations), shouldn't it be the case that interest rates ought to have decreased? It seems to me that that's one big risk factor gone for everybody. Maybe it was indeed? I haven't been watching.

Edit: It just occured to me that this is easy to pin down. On their announcement page, the date is 16th March, and we can look at http://www.bfxdata.com/ to track interest rates over time. I don't see any discernible effect attributable to it since then.

Interest rates have been falling since mid month. Also, you don't have to close your position to close your lend rate and receive a new rate. I have held the same position for about a month now, but when I see a lower rate I move to it, and now average around .06% which I consider dirt cheap to have a front row seat for when the price turns up.

[MatTheCat]

Given that Bitfinex has decided to insure the entirety of its lenders (going so far as to rather make traders pay by canceling their trades in extreme situations), shouldn't it be the case that interest rates ought to have decreased? It seems to me that that's one big risk factor gone for everybody. Maybe it was indeed? I haven't been watching.

The last (ever) leveraged long position I took on BFX, the interest rate was 0.25% per day. Currently, it is as low as 0.16%, but only a very low level of USD swap liquidity is on offer at this rate. If for whatever reason 1 Million USD of swaps were to be activated, the interest rate would go over 0.5% per day, which is perhaps one reason why their will not be 1 Million USD of swaps (enough to buy about 1700 BTC) happening on BFX anytime soon. Holding a leveraged long position for any length of time more than a few days at any of these daily rates, will soon start to sting, yet according to BFX's own stats, the USD swap rates on that exchange are still pretty much at ATHs. They say 26 million USD is out on loan, a figure first reached around 7-8 days ago. To what extent these swaps are currently being used in long Bitcoin positions is unknown, but insofar as we can trust the accuracy of this data, someone somewhere must be paying for this interest while the market stagnates and indeed recedes.

[N12]

shouldn't it be the case that interest rates ought to have decreased?

The average rate in 6 months prior is higher than the average rate in 6 months posterior.

True enough. It may have lead to a dampening effect on the highs I see, but it hasn't really pushed the lows, which is what I was looking at.

[aminorex]

monkey likes the next 20 minutes, is unhappy about the next 40-80 minutes, and likes the next 2-8 hours.

[dropt]

Extremely butt hurt. He's like a classic example of butt hurt. Probably made some very nasty mistakes with his coins and now hates every day we're going up.
Never ever have i've seen such a tool as a mod. He's like the forum clown.

Bitcoin has already made me wealthy and I would like to stay wealthy, thus I try keep my mind agile and free from cultists' poisonous thoughts who only seek to become like me because they came (much) later, and are intellectually dishonest about Bitcoin.

It would be good for your character if you stopped accusing anyone with an opinion to your disliking, and if you were to be more open to arguments. But unfortunately, that seems to be the modus operandi for many here. False accusations with nothing backing them up.

Oh, and just because I'm a moderator doesn't mean I don't get to have opinions dissident from some of you guys.

It does speak of certain irony of course to have shroomsy, someone who is non stop crying over the market, call anyone butthurt.

I've been here for quite some time and I agree with Shroomskit.  You can lay claim to keeping "[your] mind agile and free from cultist's poisonous thoughts" but your actions speak otherwise.

At times I feel compelled to start a vote to have you replaced as mod of this subforum, but to be honest, I just don't care enough.  Maybe someday.

[MatTheCat]

I've been here for quite some time and I agree with Shroomskit.  You can lay claim to keeping "[your] mind agile and free from cultist's poisonous thoughts" but your actions speak otherwise.

At times I feel compelled to start a vote to have you replaced as mod of this subforum, but to be honest, I just don't care enough.  Maybe someday.

Perhaps you can arrange for a 'virtual book burning', whereby all Blitz's posts are dragged and dropped onto a graphical bonfire, before you virtually burn his avatar, alive!?

[aminorex]

Perhaps you can arrange for a 'virtual book burning', whereby all Blitz's posts are dragged and dropped onto a graphical bonfire, before you virtually burn his avatar, alive!?

I am not surprised that you would be the one to suggest intellectual violence.  The frustration you experience on a daily basis must be excruciating.

I have moments myself.  My feelings towards scamcoin pumpers are pretty intense occasionally, for example.  Also DDOSers and FUD sources and reflectors.