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

[grappa_barricata]

As they say in Neaples...

For some reason that not even God knows, the city is called Naples in English, but anything from there is Neapolitan.

God does know - and so do I.  Neapolitan comes from the original Greek name of the city Neapolis  

Well, sometimes i think i spoke my own language you know  .

Addendum: Neapolis = new city

I believe Jorge has said that he is an Italian native also.  Maybe he forgot his Italian since he has been away...

Sorry, what i meant was 'sometimes i spoke my very own weird italian-english hybrid language'  

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[podyx]

Hogs be sweating

what y mean?

[Riddikulo]

Come on, raise raise.

[bigasic]

I thinks is ironic that as soon as the price gets to about 492 or so, there is small dump, the amount that is dumped is the close to the same, and it drops by about 10 bucks each time. This has happened about 4 straight times, i just noticed it, not sure if this has been happening during this entire drop session..

Someone or something is manipulating it, at least that is what it looks like, and with the levels, I think this is someone that it tired of dumping in the low 400 range but is okay with the upper range.

I think this is what has happened before, like the small fish jump to 520 a few days ago..

thoughts?

[Newbie1022]

Hogs be sweating

what y mean?

The guy that posted right below me who kinda sounds like a guy at a race track yelling for lucky #7... that's what I am talking about. I think we have more to burn on this particular wave.

[ChartBuddy]

Explanation

[Sandia]

Shorts on Finex already increased to 7000BTC. Blame it on Falllllling. 

have the shorts increased again?

About 7300 total.

[Raystonn]

GABI needs a low start price so they can make steller claims on fund performance.

[David M]

I'm a buyer at $535, $518 and $504.

Stop loss at $441.

Still there.  Down 7% ATM.

[Newbie1022]

I'm a buyer at $535, $518 and $504.

Stop loss at $441.

Still there.  Down 7% ATM.

Wow

[JorgeStolfi]

I believe Jorge has said that he is an Italian native also.  Maybe he forgot his Italian since he has been away...

My parents were Italian, from the Veneto region.  But I was in Nàpuli recently, and I happen to know a bit of Napulitànu, e.g.  http://www.ic.unicamp.br/~stolfi/misc/PigliateNaPastiglia.txt

I have it from a reliable source that when God created the English language He initially meant to call the city "Neaples", from the Greek, and the things from there "Napolitan", from Italian; but He then switched the spellings around, and does not remember why.

[Newbie1022]

Shorts on Finex already increased to 7000BTC. Blame it on Falllllling. 

have the shorts increased again?

About 7300 total.

Same thing happened on the run up to $520-525 the other day. It is an omen from the Gods.

[JayJuanGee]

Why do people suddenly start selling after the price has reached 120? Doesn't make much sense to me?

Shroomy, always looking on the positive side  

Classic

lmao!

so fucking butthurt, thats my shroomy!

Consistently and long-term butt hurt lil doggie bird.   

[bigasic]

i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.

Why does it matter that there are 7300 shorts? because thats a shit ton?

[Newbie1022]

i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.

Why does it matter that there are 7300 shorts? because thats a shit ton?

Double to triple what it was about a week ago and that is on Finex which really doesn't favor shorters at all.

[Richy_T]

but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.

You go find a guy with a shaved head, biceps like semi-trailers and tattoos all over his arms legs and half his face. You borrow a bunch of money off him with your house, your car, your wife, children and kneecaps as collateral then you walk into a casino and up to the roulette wheel and put it all on black. Then the slim rich guy with the pointy goatee quits stroking his cat for a second and picks up the ball and puts it on "0"

[xyzzy099]

I believe Jorge has said that he is an Italian native also.  Maybe he forgot his Italian since he has been away...

My parents were Italian, from the Veneto region.  But I was in Nàpuli recently, and I happen to know a bit of Napulitànu, e.g.  http://www.ic.unicamp.br/~stolfi/misc/PigliateNaPastiglia.txt

I have it from a reliable source that when God created the English language He initially meant to call the city "Neaples", from the Greek, and the things from there "Napolitan", from Italian; but He then switched the spellings around, and does not remember why.

He does that kind of thing a lot with the English language, i.e. calling a country "Holland", but every thing from that country "Dutch"

[grappa_barricata]

I believe Jorge has said that he is an Italian native also.  Maybe he forgot his Italian since he has been away...

My parents were Italian, from the Veneto region.  But I was in Nàpuli recently, and I happen to know a bit of Napulitànu, e.g.  http://www.ic.unicamp.br/~stolfi/misc/PigliateNaPastiglia.txt

I have it from a reliable source that when God created the English language He initially meant to call the city "Neaples", from the Greek, and the things from there "Napolitan", from Italian; but He then switched the spellings around, and does not remember why.

Sciàvo, then

By the way i've also a vetted interest in your county *ahem*.

[PirateHatForTea]

i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.

Why does it matter that there are 7300 shorts? because thats a shit ton?

To short bitcoin you are selling coins you don't own. To do this, you have to borrow them.

So 7300 bitcoins shorted are 7300 bitcoins lent out, that at some point have to be returned. And how will those borrowers get the coin to repay the lenders?

You guessed it, they have to buy them.

So that is 7300 coins of future demand sitting there. An what's more, the positions will have liquidation prices or 'stop losses' setup that will initiate a buy above a certain price (to prevent too great a loss). A cascade of such automated liquidations is called a 'short squeeze'.

Now you can (and should) look at the leveraged longs the same way however - they are bought with borrowed USD, so that is $17 million USD in demand to buy USD with BTC, aka sell bitcoin. (That's about about 35,000 at current price if we unrealistically assume no slippage)

[Odalv]

i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.

Why does it matter that there are 7300 shorts? because thats a shit ton?

Short: Somebody borrows bitcoins and sells them. Later he will buy bitcoins at lower price and returns them to the lender + interest.
Long: Borrow $$ then buy BTC and sell them later.