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

[JimboToronto]

Good morning Bitcoinland.

Slept in a little today but woke to see that the healthy correction continues after Sunday's capitulation.

Glad I stocked up over the weekend. Life is good.

[mah87]

there we go virtex has caught up

i am so fucked.

Hey adam what do you think abotu cryptsy integrating the ripple network ?

i think it means more bitcoins will be chasing XRP, good for bitcoin good for ripple. but ripple will be a failure in the end, some banks like it because ripple is closed source and prints coins out of thin air and banks feel comfortable with that.

lol
 
closed source ?
https://github.com/ripple/
http://dev.ripple.com/

[ChartBuddy]

Explanation

[JimboToronto]

we are at a resistance zone, the next 24 hours are CRITICAL

Hopefully they'll be as good as the last 3 critical 24 hour periods.

[Dilla]

I'm thinking we push 400 through tomorrow, drop down below 350 over the weekend, then push for 450 next week with fresh fiat on the exchange. Just a hunch.

[podyx]

How hard is it to through with verification on bitfinex?? It says I must provide a "bank statement" with my name and account and also my first deposit must come from this account? ("Bank Statement: clearly highlighting your name as the account holder (your first deposit to Bitfinex must come from this account).")
I don't even know what a bank statement is

And for proof of address, does anything work that contains my name and address?? Like a phone bill?

[Cheeseonastick]

How hard is it to through with verification on bitfinex?? It says I must provide a "bank statement" with my name and account and also my first deposit must come from this account? ("Bank Statement: clearly highlighting your name as the account holder (your first deposit to Bitfinex must come from this account).")
I don't even know what a bank statement is

And for proof of address, does anything work that contains my name and address?? Like a phone bill?

Are you sure you need a verified account?

You can store and exchange btc and USD on bitfinex without a verified account.

[JayJuanGee]

there we go virtex has caught up

i am so fucked.

You are NOT really attempting to trade (especially short) in these price ranges? 


 FUCK!!!!!!   

[podyx]

How hard is it to through with verification on bitfinex?? It says I must provide a "bank statement" with my name and account and also my first deposit must come from this account? ("Bank Statement: clearly highlighting your name as the account holder (your first deposit to Bitfinex must come from this account).")
I don't even know what a bank statement is

And for proof of address, does anything work that contains my name and address?? Like a phone bill?

Are you sure you need a verified account?

You can store and exchange btc and USD on bitfinex without a verified account.

It says this: "Whether you wish to deposit or withdraw US dollars funds to/from your Bitfinex account, your account must be verified in order to comply with relevant anti-money laundering (AML) and counter terrorism financing (CTF) laws and regulations."

So I guess I have to verify right?

[octaft]

snip

Curious: Why "FUCK" though? Are you criticizing him or giving him a lot of credit for knowing what he's talking about, and that is therefore worrying you?

[derpinheimer]

13,200.49 BTC shorts  

Cut the loose before its too late, this is last chance to sell above 250$

Nice try. That's 5 million dollars worth of bears now *committed* to buying bitcoin.

Im not really good with understanding shorts and longs, but my thought is:

Short: Someone offers you to sell their coins, with daily interest (or other agreed rate), which you then can buy back at a price of your own choosing? How does the leverage work?
Long: Someone offers you to sell their USD, with daily interest, which you can then... same question - how does the leverage work? And must a long also buy back USD?

They both show on the orderbooks as any other order, with the condition they must be bought traded back at some other time?

So 13k btc of shorts mean 13k btc must be bought, at some time.. but 20m longs means.. $20m usd must be bought as well???

I can't claim much understanding but the basics are:
Long. Buy now, sell later and hope the price rises in between.
Short. Borrow now, sell, buy back later and return to lender, hope the price falls in between.
Leverage. Borrow so you can increase your position, ie. bet more than you can afford to lose.

Here's the interesting bit that's worth reading up on, Naked Shorts, borrow to pay back later but whatever you're borrowing doesn't actually exist. Its not permitted in most markets but that doesn't stop it happening.

Very interesting. Does the reverse exist? My guess would be yes, but its totally unnecessary as there is always USD available to loan?

[podyx]

snip

Curious: Why "FUCK" though? Are you criticizing him or giving him a lot of credit for knowing what he's talking about, and that is therefore worrying you?

We need adam to be on this train

He is the main source of moon and train pictures

[Cheeseonastick]

How hard is it to through with verification on bitfinex?? It says I must provide a "bank statement" with my name and account and also my first deposit must come from this account? ("Bank Statement: clearly highlighting your name as the account holder (your first deposit to Bitfinex must come from this account).")
I don't even know what a bank statement is

And for proof of address, does anything work that contains my name and address?? Like a phone bill?

Are you sure you need a verified account?

You can store and exchange btc and USD on bitfinex without a verified account.

It says this: "Whether you wish to deposit or withdraw US dollars funds to/from your Bitfinex account, your account must be verified in order to comply with relevant anti-money laundering (AML) and counter terrorism financing (CTF) laws and regulations."

So I guess I have to verify right?

It depends on what you want to use your account for.

If you plan on sending USD to the exchange directly, then yes you need to verify.

However, you can easily buy your btc somewhere else (coinbase, circle), send the btc to your unverified bitfinex account, then sell it on the exchange for USD. You will then have USD at bitfinex, in your account. If you want to withdraw, you would exchange it back into btc on bitfinex, and then send it to your coinbase/circle wallet and sell there for USD.

[Luxasd]

Opinions on the CFTC hearing?

[derpinheimer]

Opinions on the CFTC hearing?

Clearly the traders say bullish

[EFS]

I'm not ready for the train trip. Just delay some more months.

[gwoplock]

I'm not ready for the train trip. Just delay some more months.

+1

[JayJuanGee]

snip

Curious: Why "FUCK" though? Are you criticizing him or giving him a lot of credit for knowing what he's talking about, and that is therefore worrying you?

The context for my statement is FUCK...


meaning that I had this conversation with Adam before, and he said that generally he does NOT like to trade and that he is avoiding trading b/c he got fucked in the past...   

Therefore, I would be even more surprised that Adam gets lured into trading while BTC prices are at this relatively low price level.

I am NOT really worried b/c I am NOT planning to try to trade at these price levels...   we gotta see how this potential trend reversal plays out first, and I am prepared to buy more BTC if prices dip further and otherwise I will just hodl.. probably up through 500 or 600.. before I would even attempt to short... and those kinds of tentative plans, of course, is depending on how long it takes for BTC prices to arrive to those price points.

[gwoplock]

Am I the only one that sees we are overbought.

[JayJuanGee]

Am I the only one that sees we are overbought.

Yes.. you and maybe one or two other delusional bears..