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

[Wandererfromthenorth]

Plus next paycheck I will start getting paid in 100% bitcoins.

RIP

[NotLambchop]

...
Plus next paycheck I will start getting paid in 100% bitcoins.

Really, you got nothing to worry about bro.  Your prospect are great!

[macsga]

US State Bank Supervisors Issue Model Regulation for Digital Currencies
The Conference of State Bank Supervisors (CSBS) has released a draft proposal for regulating digital currency businesses.

The membership group, which represents bank regulators from US state agencies but does not play a direct role in how states craft new financial rules, outlined a number of areas in which it believes companies that work with digital currencies should be supervised, including approaches to consumer protection, licensing and security.

Overall, the framework echoes elements of the New York State Department of Financial Services’ (NYDFS) BitLicense proposal. The draft framework targets those who exchange digital currencies or facilitate such activities, and explicitly identifies itself as “technology neutral”.

The CSBS suggests licensing and supervision requirements should apply to businesses that exchange virtual currency for fiat currency and virtual currency for other types of virtual currency; transmit virtual currencies; and facilitate the third-party exchange, storage or transmission of virtual currencies. The latter category is defined to include wallets, vaults, kiosks, merchant-acquirers and payment processors.

http://www.coindesk.com/us-state-bank-supervisors-issue-model-regulation-digital-currencies/

[octaft]

If you think bitcoin is an enormous bubble but is a great way to trade and make money while the market stays irrational and has huge swings, then we've been roughly on the same page for some time now. In light of that, you're targeting someone immune to your preferred method of trolling.

[Fatman3001]

wandererfromthenorth had to go on ignore. If he is not a troll then he is an *****, so I think I can manage without him.

[ChartBuddy]

Explanation

[NotLambchop]

If you think bitcoin is an enormous bubble but is a great way to trade and make money while the market stays irrational and has huge swings, then we've been roughly on the same page for some time now. In light of that, you're targeting someone immune to your preferred method of trolling.

Why would I want to troll a rational trader?  We're in this together--trading Bitcoin like a red-headed stepchild.
You out for the last two months, or shorting?

[podyx]

You, gentlemans, seem to be somewhat butthurt.  No?

Moar like "Hodlers be like" ...




Not really, but any excuse to post Balthus works for me ^_^

LOL

[Wandererfromthenorth]

[octaft]

Eh I tend not to short, rather just wait for some obvious signals to catch some knives, such as bulls shitting their pants (aka are already out) and 30k ask walls that are almost certainly being bought out by the person who put it up there to induce a pump and get a better price for his 30k. From the looks of the last month or so, I'd say he's probably taking advantage of those better prices, too.

EDIT: I stayed out recently because imo price was in no man's land, and I dislike mindless gambling. Could have just as easily gone up to 400 or so before going back down, and that would be painful for a short.

EDIT2: Eh probably not "just as easily," maybe more "a not completely unreasonable possibly."

[hdbuck]

1 bitcoin is still worth... 1 bitcoin.

[LFC_Bitcoin]

Price sucks ass but we HODL in hope.
I'm probably a fucking idiot hodling onto this many coins but I've made my bed now, I might as well die in it.

[NotLambchop]

...
EDIT: I stayed out recently because imo price was in no man's land, and I dislike mindless gambling. Could have just as easily gone up to 400 or so before going back down, and that would be painful for a short...

With the exception of "30k was not what it seemed," I'm with you.

[janos666]

Eh I tend not to short, rather just wait for some obvious signals to catch some knives, such as bulls shitting their pants (aka are already out) and 30k ask walls that are almost certainly being bought out by the person who put it up there to induce a pump and get a better price for his 30k. From the looks of the last month or so, I'd say he's probably taking advantage of those better prices, too.

EDIT: I stayed out recently because imo price was in no man's land, and I dislike mindless gambling. Could have just as easily gone up to 400 or so before going back down, and that would be painful for a short.

EDIT2: Eh probably not "just as easily," maybe more "a not completely unreasonable possibly."

I am always trying to catch the last moments before a relatively big dump and I periodically moving my stop price lower after every consecutive drops.
This is far from profit maximization (trying to catch the local bottom and might even go long for the expected bounce) but usually effective in minimizing the average loss (some loss is possible in case of relatively small and single dipping followed by a powerful bounce because the first stop is slightly above the base price).

But I am constantly worried if I will miss buying back close enough to the "real", longer term low. I have no effective safeguards against a powerful pump which manages to define a new uptrend. But I don't think it's that much of a risky right now.
Worst probable case: I won't get "rich" (very relative, I am doing OK and I am not addicted to wealth) but I make some nice profit anyway (considering my crypto trading hobby in itself).
Of course, the real worst case is an unbelievable scenario when somebody places a limit order above my stop price so high that I get instantly margin called (no sell orders to support my buying via stop). -> Should be possible but it's not likely, not these days anyway, I think (and I guess the exchange has some kind of safeguards against this, to make it more or less bearable).

[Fatman3001]

Price sucks ass but we HODL in hope.
I'm probably a fucking idiot hodling onto this many coins but I've made my bed now, I might as well die in it.

The price has only dropped 20% the last couple of weeks and we are still over $40 above the low in early October. I am not saying it's a sweet position, I am just saying that if you didn't cut your wrists then you can probably wait till after christmas.

[dakota neat]

Buy high, sell low

[podyx]

Not gonna feel great losing this much fucking money

Now where my nr 7 at...

[octaft]

...
EDIT: I stayed out recently because imo price was in no man's land, and I dislike mindless gambling. Could have just as easily gone up to 400 or so before going back down, and that would be painful for a short...

With the exception of "30k was not what it seemed," I'm with you.

Yeah I mean I could be wrong, and there could have been a bunch of buyers waiting in the wings at 2 in the morning to buy 30k in bitcoins at exactly $300. Maybe I'm just subscribing to some dumb conspiracy theory, but it did all seem very suspicious, and I have noticed in the past that whenever a big wall that doesn't make any sense whatsoever pops up, the price has tended to eventually go in the direction of that wall. Now when the market was bullish, it would keep going, but now that it's bear in my mind it's just a quick pump to make more money on selling.

Of course, I tempered the decision with the extremely bearish sentiment from once-bulls, and still made money on the move even if I was wrong about the guy buying his own wall.

[Cassius]

Am I sensing despair?

[Fatman3001]

Am I sensing despair?

Of course, people are losing money.