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

[adamstgBit]

They don't evaporate, rust or rot. Ergo, a store of value. What is wrong with you guys?

I have a bunch of rocks in my yard. They formed long, long ago. And they will be with us for a long time to come. How much are they worth to you?

You are coming across as a simpleton.... have you heard of scarcity?  Probably you need to edumacate yourself about bitcoin basics before you come in here lecturing about bitcoin's hypothesized lackings as a storage of value.

while you at it google  Portability Divisibility & Fungibility

[MinermanNC]

They don't evaporate, rust or rot. Ergo, a store of value. What is wrong with you guys?

I have a bunch of rocks in my yard. They formed long, long ago. And they will be with us for a long time to come. How much are they worth to you?

You are coming across as a simpleton.... have you heard of scarcity?  Probably you need to edumacate yourself about bitcoin basics before you come in here lecturing about bitcoin's hypothesized lackings as a storage of value.

while you at it google  Portability Divisibility & Fungibility

Gotta love those "bilitys" 

[keewee]

lets try somthing

everyone looks at the wall on okcoin and imagine it it coming down.

really think about it.

http://bitcoinity.org/markets/okcoin/CNY

Looking a little different now 

[grappa_barricata]

cmon bitcoin, surprise me

[JayJuanGee]

my first bid on btc-e is @135$

edit: and then all the way to 99$

What a fantasy!!!!


You better put some BTC sell orders in the $3,000 price range, too, just in case it goes quickly the other way.   

Have you ever traded on BTCE? In February, I caught coins from $140 - $270 (my lowest bids were at $140). In the last cascade, I caught coins from $320 - $360. It's not fantasy at all. BTCE is very thinly traded and extremely easy to manipulate. They will (or someone will) run stops and we could easily cascade down there, given a little push.

I have an account there and i have traded a little bit there, but I have NOT put too much in cash because my average price per BTC is still in the red for 10 months... approximately.

How many coins did you purchase at those discounted prices?

[Argwai96]

my first bid on btc-e is @135$

edit: and then all the way to 99$

What a fantasy!!!!


You better put some BTC sell orders in the $3,000 price range, too, just in case it goes quickly the other way.   

Have you ever traded on BTCE? In February, I caught coins from $140 - $270 (my lowest bids were at $140). In the last cascade, I caught coins from $320 - $360. It's not fantasy at all. BTCE is very thinly traded and extremely easy to manipulate. They will (or someone will) run stops and we could easily cascade down there, given a little push.

I have an account there and i have traded a little bit there, but I have NOT put too much in cash because my average price per BTC is still in the red for 10 months... approximately.

How many coins did you purchase at those discounted prices?

I'm just a little fish in this ocean.... <100 the first time and the second time it only hit my first two bids so it was <25. Back in February I traded only on BTCE, I've since spread out to other exchanges to manage the exchange risk. But sometimes I get ancy knowing that BTCE seems to be the only place that flash crashes like that and actually lets you keep the coins (doesn't roll back like Bitfinex in February)...

[JayJuanGee]

They don't evaporate, rust or rot. Ergo, a store of value. What is wrong with you guys?

I have a bunch of rocks in my yard. They formed long, long ago. And they will be with us for a long time to come. How much are they worth to you?

You are coming across as a simpleton.... have you heard of scarcity?  Probably you need to edumacate yourself about bitcoin basics before you come in here lecturing about bitcoin's hypothesized lackings as a storage of value.

while you at it google  Portability Divisibility & Fungibility

Each of us can become better edumacated about some of the BTC basic features:

scarcity

portability

divisibility

fungibility

and likely several other BIG words.

[JayJuanGee]

my first bid on btc-e is @135$

edit: and then all the way to 99$

What a fantasy!!!!


You better put some BTC sell orders in the $3,000 price range, too, just in case it goes quickly the other way.   

Have you ever traded on BTCE? In February, I caught coins from $140 - $270 (my lowest bids were at $140). In the last cascade, I caught coins from $320 - $360. It's not fantasy at all. BTCE is very thinly traded and extremely easy to manipulate. They will (or someone will) run stops and we could easily cascade down there, given a little push.

I have an account there and i have traded a little bit there, but I have NOT put too much in cash because my average price per BTC is still in the red for 10 months... approximately.

How many coins did you purchase at those discounted prices?

I'm just a little fish in this ocean.... <100 the first time and the second time it only hit my first two bids so it was <25. Back in February I traded only on BTCE, I've since spread out to other exchanges to manage the exchange risk. But sometimes I get ancy knowing that BTCE seems to be the only place that flash crashes like that and actually lets you keep the coins (doesn't roll back like Bitfinex in February)...

I believe it is NOT a small fish to have the equivalent of 25 to 100BTC worth of Fiat on BTC-e waiting there (tied up) and ready to buy bitcoins in the event of a flash crash... Yes, I understand that it happened twice in the last  9 months and then it happened once on the upside on the Euro market.

Gotta really spread your money around to prepare for those kindso f eventualities, and personally, I sleep much better with my money in BTC than I would with my money in FIAT on those exchanges, especially during times like these when I am of the belief that BTC prices are quite a bit below the trendline... which in my thinking at any time we could have an upward explosion in price.. and in those circumstances, I would resent having my fiat NOT working for me.

[Argwai96]

I believe it is NOT a small fish to have the equivalent of 25 to 100BTC worth of Fiat on BTC-e waiting there (tied up) and ready to buy bitcoins in the event of a flash crash... Yes, I understand that it happened twice in the last  9 months and then it happened once on the upside on the Euro market.

Gotta really spread your money around to prepare for those kindso f eventualities, and personally, I sleep much better with my money in BTC than I would with my money in FIAT on those exchanges, especially during times like these when I am of the belief that BTC prices are quite a bit below the trendline... which in my thinking at any time we could have an upward explosion in price.. and in those circumstances, I would resent having my fiat NOT working for me.

I do have cold storage but all the coins I bought before I started trading were < $100. Something in me won't let myself not hedge my position in a serious downtrend. I'm lucky I never traded on Gox... and I'm aware of the risk of keeping money on these exchanges. BUT this market is so damn juicy. If Huobi/OKcoin/Bitstamp can get down to $270-350 we could rally hard..... that'll be a trade worth taking. Otherwise I'll go back all in on a strong breakout on the daily chart.

[grappa_barricata]

this looks bad

[Hunyadi]

I believe it is NOT a small fish to have the equivalent of 25 to 100BTC worth of Fiat on BTC-e waiting there (tied up) and ready to buy bitcoins in the event of a flash crash... Yes, I understand that it happened twice in the last  9 months and then it happened once on the upside on the Euro market.

Gotta really spread your money around to prepare for those kindso f eventualities, and personally, I sleep much better with my money in BTC than I would with my money in FIAT on those exchanges, especially during times like these when I am of the belief that BTC prices are quite a bit below the trendline... which in my thinking at any time we could have an upward explosion in price.. and in those circumstances, I would resent having my fiat NOT working for me.

I do have cold storage but all the coins I bought before I started trading were < $100. Something in me won't let myself not hedge my position in a serious downtrend. I'm lucky I never traded on Gox... and I'm aware of the risk of keeping money on these exchanges. BUT this market is so damn juicy. If Huobi/OKcoin/Bitstamp can get down to $270-350 we could rally hard..... that'll be a trade worth taking. Otherwise I'll go back all in on a strong breakout on the daily chart.

Could you share some good hedging strategies in Bitfinex?

[Argwai96]

I believe it is NOT a small fish to have the equivalent of 25 to 100BTC worth of Fiat on BTC-e waiting there (tied up) and ready to buy bitcoins in the event of a flash crash... Yes, I understand that it happened twice in the last  9 months and then it happened once on the upside on the Euro market.

Gotta really spread your money around to prepare for those kindso f eventualities, and personally, I sleep much better with my money in BTC than I would with my money in FIAT on those exchanges, especially during times like these when I am of the belief that BTC prices are quite a bit below the trendline... which in my thinking at any time we could have an upward explosion in price.. and in those circumstances, I would resent having my fiat NOT working for me.

I do have cold storage but all the coins I bought before I started trading were < $100. Something in me won't let myself not hedge my position in a serious downtrend. I'm lucky I never traded on Gox... and I'm aware of the risk of keeping money on these exchanges. BUT this market is so damn juicy. If Huobi/OKcoin/Bitstamp can get down to $270-350 we could rally hard..... that'll be a trade worth taking. Otherwise I'll go back all in on a strong breakout on the daily chart.

Could you share some good hedging strategies in Bitfinex?

I meant hedging in a very general sense. By that I mean, holding dollars waiting for reentry and/or occasionally shorting, as opposed to just holding BTC. I'd consider using futures if only I could understand them (or more to the point, the psychology of that market).

In reality, and I'm sure I'm going against the grain on this forum, but the safest haven right now is the dollar. I'm still waiting for entry into long term gold and silver positions as well, but IMO those are ready to decline significantly over the next year as well.

[kurb3l]

So here we go again... hope i don't miss buying in
you know, cheap coins!

[TPN]

Can we have cheaper coins?

[Hunyadi]

I believe it is NOT a small fish to have the equivalent of 25 to 100BTC worth of Fiat on BTC-e waiting there (tied up) and ready to buy bitcoins in the event of a flash crash... Yes, I understand that it happened twice in the last  9 months and then it happened once on the upside on the Euro market.

Gotta really spread your money around to prepare for those kindso f eventualities, and personally, I sleep much better with my money in BTC than I would with my money in FIAT on those exchanges, especially during times like these when I am of the belief that BTC prices are quite a bit below the trendline... which in my thinking at any time we could have an upward explosion in price.. and in those circumstances, I would resent having my fiat NOT working for me.

I do have cold storage but all the coins I bought before I started trading were < $100. Something in me won't let myself not hedge my position in a serious downtrend. I'm lucky I never traded on Gox... and I'm aware of the risk of keeping money on these exchanges. BUT this market is so damn juicy. If Huobi/OKcoin/Bitstamp can get down to $270-350 we could rally hard..... that'll be a trade worth taking. Otherwise I'll go back all in on a strong breakout on the daily chart.

Could you share some good hedging strategies in Bitfinex?

I meant hedging in a very general sense. By that I mean, holding dollars waiting for reentry and/or occasionally shorting, as opposed to just holding BTC. I'd consider using futures if only I could understand them (or more to the point, the psychology of that market).

In reality, and I'm sure I'm going against the grain on this forum, but the safest haven right now is the dollar. I'm still waiting for entry into long term gold and silver positions as well, but IMO those are ready to decline significantly over the next year as well.

Ok, thanks! Then we are in the same boat. I would too like to learn futures as hedging strategy.

[Davyd05]

Think we'll see fireworks during Friday? catching people of guard, not sure what I expect at this point another leg down or a green spike with everyone thinking it's about to get worse.

[Malin Keshar]

Think we'll see fireworks during Friday? catching people of guard, not sure what I expect at this point another leg down or a green spike with everyone thinking it's about to get worse.

I guess we finally reached the bottom.

We are where we started at May, after all the Gox stuff settled down

[Argwai96]

Think we'll see fireworks during Friday? catching people of guard, not sure what I expect at this point another leg down or a green spike with everyone thinking it's about to get worse.

I'm expecting more downside, but I'm not sure that this bounce is complete. Could still retest that broken support around $440. So I'm not shorting here. On the flip side, if we steamroll through 2850 CNY, I might have to chase after the train.....

[zimmah]

They don't evaporate, rust or rot. Ergo, a store of value. What is wrong with you guys?

I have a bunch of rocks in my yard. They formed long, long ago. And they will be with us for a long time to come. How much are they worth to you?

You are coming across as a simpleton.... have you heard of scarcity?  Probably you need to edumacate yourself about bitcoin basics before you come in here lecturing about bitcoin's hypothesized lackings as a storage of value.

while you at it google  Portability Divisibility & Fungibility

Each of us can become better edumacated about some of the BTC basic features:

scarcity

portability

divisibility

fungibility

and likely several other BIG words.

Bitcoin is getting a quite complex jargon nowadays

HODL
SHOTR
Edumacated
Cut your loose


By the way, did ChartBuddy commit suicide?

[Davyd05]

Think we'll see fireworks during Friday? catching people of guard, not sure what I expect at this point another leg down or a green spike with everyone thinking it's about to get worse.

I'm expecting more downside, but I'm not sure that this bounce is complete. Could still retest that broken support around $440. So I'm not shorting here. On the flip side, if we steamroll through 2850 CNY, I might have to chase after the train.....

@Argawai96 I'll have fiat on the exchange either way, this is lowering my buy in price. If I wanted out or to day trade those times have come and gone. I wonder how many are just content to lower their average buy in prices.

@Malin Keshar I'd say that will be more obvious with a change of direction, we shall see what kind of tolerance for sideways the market has.