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

[JorgeStolfi]

I have never seen as bad a bid side on Huobi as now. And before that, I had never seen it as bad as about 2 days ago. What's going on there?

I have the feeling that the Mainland Chinese exchanges are winding down.  Just a feeling, no concrete news.

I asked several times what could have convinced some traders to buy in spurts and take the price from 450$ to 630$.  General answer was "who cares".  Well, my guess is still that those traders had learned of some impending event that might start a new rally. If so, perhaps they now have been disappointed and are just selling back what they bought.    But, who cares?

[fonzie]

I have never seen as bad a bid side on Huobi as now. And before that, I had never seen it as bad as about 2 days ago. What's going on there?

I have the feeling that the Mainland Chinese exchanges are winding down.  Just a feeling, no concrete news.

I asked several times what could have convinced some traders to buy in spurts and take the price from 450$ to 630$.  General answer was "who cares".  Well, my guess is still that those traders had learned of some impending event that might start a new rally. If so, perhaps they now have been disappointed and are just selling back what they bought.    But, who cares?

There have been around ~ 20000BTC in shorts on western exchanges that had to be closed. Don´t know how many shorts had been open on the chinese exchanges in that time. This in combination with crazy leverage longs chasing the rise brought us to 680$.

[Cassius]

Been away from this thread for quite a while due to boredom and loss of patience with its many trolls. But hey, finally, something's up. Is this the long-overdue $540 retest?

[aluminumoxide13]

Do not be happy this is not the end of crash! the crash just starts!

HUGE DROP incoming and will send you back to $4xx, repeat, Do NOT buy or lose everything

oops.  I just bought @$530 with all the residual yellenbucks I got.

hahaha throwing your caution in the wind because you have some jew money to throw around bahaha classic

[JimboToronto]

Ho Hum. Same old same old.



Pretty boring for the last half year.

[conspirosphere.tk]

I have the feeling that the Mainland Chinese exchanges are winding down.  Just a feeling, no concrete news.

Interesting. I've just seen on zerohedge that their shadow banking is folding, so maybe there are deep pockets in liquidation mode for reasons unrelated to BTC there.

[oda.krell]

I asked several times what could have convinced some traders to buy in spurts and take the price from 450$ to 630$.  General answer was "who cares" momentum.  ... If so, perhaps they now have been disappointed and are just selling back what they bought. But, who cares? momentum.

YW

[adamstgBit]

wow not the best sight to wake up to... such crash!

[magicmexican]

Can we get a forum option of auto-ignoring people with <10 posts? That would be sweet

[wonkytonky]

Can we get a forum option of auto-ignoring people with <10 posts? That would be sweet

+1

[JimboToronto]

Can we get a forum option of auto-ignoring people with <10 posts? That would be sweet

+1

 

[mooncake]

Do people use Bitpay/Coinbase for online gambling?  Do people use them, instead of the exchanges, to turn bitcoins into dollars? (Just register with them as a merchant and but a Nothing from yourself in BTC, have it delivered as dollars?)

I don't really get your question.

BitPay/Coinbase for online gambling? Do you know what they do?

In exchange, you can buy or sell. In payment processing, you can only sell. If you have a lot of money, you can buy as well.

[Moria843]

the most fucked up at the moment are miners, an investor or a trader can close his position to cut his loses anytime, but miner will be stuck with a non profitable hardware that cant sell, above all of that he has to pay for mining costs (power, internet, maintenance, rent....)

Not true, depends where you are in the cycle. My miners have paid themselves off and continue mining at a cost of $190/BTC. So how am I "most fucked"?

Sometimes it helps if you know what you're talking about. You obviously don't!

[seljo]

Can we get a forum option of auto-ignoring people with <10 posts? That would be sweet

+1

 

+1337

Also moderate this thread so noone with less than 8 hours logged in can post.

[adamstgBit]

oh cool i woke up just in time for the bounce

[JorgeStolfi]

BitPay/Coinbase for online gambling? Do you know what they do?

Sorry, I don't gamble so I don't know how online gambling sites work.  You mean that they only take bitcoins, is that correct?

[mmitech]

the most fucked up at the moment are miners, an investor or a trader can close his position to cut his loses anytime, but miner will be stuck with a non profitable hardware that cant sell, above all of that he has to pay for mining costs (power, internet, maintenance, rent....)

Not true, depends where you are in the cycle. My miners have paid themselves off and continue mining at a cost of $190/BTC. So how am I "most fucked"?

Sometimes it helps if you know what you're talking about. You obviously don't!

what miners do you have ? and how did they pay off ( in term of BTC or $) ?

[Bittings]

Can we get a forum option of auto-ignoring people with <10 posts? That would be sweet

+1

 

 

[Dalmar]

The plunge protection team has arrived.

[mooncake]

BitPay/Coinbase for online gambling? Do you know what they do?

Sorry, I don't gamble so I don't know how online gambling sites work.  You mean that they only take bitcoins, is that correct?

Google BitPay and Coinbase then.