Wall Observer - MtGoxUSD wall movement tracker

[bitcoinBull]

GG bears, GG

Yeah no kidding, although I wonder how the situation might look like if Bitcoinca was still around.

A lot different.

Good question and its tough to say, but if I had to I'd say that the bears would've been vaporized (bulls turn when the trend reverses). In any case, the world will never know..

[Spekulatius]

GG bears, GG

Yeah no kidding, although I wonder how the situation might look like if Bitcoinca was still around.

More volatile

[humanitee]

 

Where do we go now?

[hazek]

I wonder how much more of this pirateat40 can take before going bust 

[ArticMine]

I wonder how much more of this pirateat40 can take before going bust 

Assuming of course pirateat40 is caught in a BTC short squeeze at 7% per week.

[hazek]

I wonder how much more of this pirateat40 can take before going bust  

Assuming of course pirateat40 is caught in a BTC short squeeze at 7% per week.

Well yea.. he said that that is what he does so unless he has some psychic abilities to predict exactly how the price will move to avoid a trap, he should be trapped right now.

[ArticMine]

This can get real interesting real fast if pirateat40 in indeed in caught in such a trap.

[Azetab]

This can get real interesting real fast if pirateat40 in indeed in caught in such a trap.

Why would this affect pirateat40?

[austonst]

Wow, that 40k wall is the largest single wall I've seen in a long time. Doesn't even look like there's much selling pressure up against it; it just drove the price up and everyone's happy with it now.

[hazek]

This can get real interesting real fast if pirateat40 in indeed in caught in such a trap.

Why would this affect pirateat40?

Supposedly, in his own words, he is using other people's BTCs instead of pocketing the entire lavish profits himself as a hedge against the exchange rate fluctuation for when he converts his BTC into fiat. Obviously if he is telling the truth then a huge rise in the exchange rate is the event he's hedging against and his clients should bare the losses.

[smoothie]

This can get real interesting real fast if pirateat40 in indeed in caught in such a trap.

Why would this affect pirateat40?

Supposedly, in his own words, he is using other people's BTCs instead of pocketing the entire lavish profits himself as a hedge against the exchange rate fluctuation for when he converts his BTC into fiat. Obviously if he is telling the truth then a huge rise in the exchange rate is the event he's hedging against and his clients should bare the losses.

Perhaps people should withdraw their BTC from Pirate's "program"?

Before its too late?

[RoloTonyBrownTown]

Yeah, perhaps not.  Just the pirate troll crowd seizing any opportunity to FUD, as usual.  That's why hazek is on ignore

[drlatino999]

Yeah, perhaps not.  Just the pirate troll crowd seizing any opportunity to FUD, as usual.  That's why hazek is on ignore

Well, I'll find out the hard way. I have about 1.3K BTC tied up in Pirates Operations right now

[ArticMine]

This can get real interesting real fast if pirateat40 in indeed in caught in such a trap.

Why would this affect pirateat40?

Supposedly, in his own words, he is using other people's BTCs instead of pocketing the entire lavish profits himself as a hedge against the exchange rate fluctuation for when he converts his BTC into fiat. Obviously if he is telling the truth then a huge rise in the exchange rate is the event he's hedging against and his clients should bare the losses.

Perhaps people should withdraw their BTC from Pirate's "program"?

Before its too late?

The whole point of borrowing BTC is to hedge against a fall not a rise in the BTC price. The "pet rock" scenario. The risk is that if the BTC price rises fast enough one can get caught in a short squeeze. Now if piratat40 is in fact in this situation and people start withdrawing from his program then this would force piratat40 to use his USD reserves to buy the BTC at market in order to meet redemptions further driving up the price. This is a classic short squeeze. Furthermore setting up an ask wall here can be very dangerous here if there is a buyer waiting in the wings that simply buys the ask wall at market. Now all of this assumes of course that pirateat40 is in fact caught in a short squeeze which may not be the case.

[notme]

This can get real interesting real fast if pirateat40 in indeed in caught in such a trap.

Why would this affect pirateat40?

Supposedly, in his own words, he is using other people's BTCs instead of pocketing the entire lavish profits himself as a hedge against the exchange rate fluctuation for when he converts his BTC into fiat. Obviously if he is telling the truth then a huge rise in the exchange rate is the event he's hedging against and his clients should bare the losses.

Perhaps people should withdraw their BTC from Pirate's "program"?

Before its too late?

The whole point of borrowing BTC is to hedge against a fall not a rise in the BTC price. The "pet rock" scenario. The risk is that if the BTC price rises fast enough one can get caught in a short squeeze. Now if piratat40 is in fact in this situation and people start withdrawing from his program then this would force piratat40 to use his USD reserves to buy the BTC at market in order to meet redemptions further driving up the price. This is a classic short squeeze. Furthermore setting up an ask wall here can be very dangerous here if there is a buyer waiting in the wings that simply buys the ask wall at market. Now all of this assumes of course that pirateat40 is in fact caught in a short squeeze which may not be the case.

Right.  His exposure to up moves is at most a couple hours.  We just have to hope it wasn't that hour, but he does most of his trading during normal business hours so he should be okay.

[cloon]

omg look at all these panik sellers^^

better than cinema
i'd be really careful with selling now

cause there are only 2 options:

1. few hours cool down of market, after continue rising
2. test ~7.2 than rise


for me this breakout of this years last high is enormous bullish and will eventually cause a hard rally
anyways great times ahead!!!!

[arklan]

i wonder if we'll see the weekend dip again this week. seems to have been skipped last week.

[CoinDiver]

Can someone point me in the direction of an explanation of how this sort of a graph is read?

Thanks.

*smirk*, dont bother junior, thats just bullshit.

But IF you frenetically insist in getting the joke: Imagine on the x-axis the time and on the y-axis the exchange rate of USD for BTC. Now it becomes clearer. Adam projects here the "highly likely" price development of bitcoin over the next year, resulting in an abrupt surge to 100 USD/BTC. Do you get the joke?

I guess I posted my question at the wrong moment. I was not referring to the hand drawn stick graph, rather than one this entire thread seems to be concerning itself over.

[Spekulatius]

The bitcoin Market

But this one explains it pretty good I think. Its so simple even a five year old could have drawn it, errrr,.. I mean understand it!

[ineededausername]

wall at 7.7 is dying

8k left... I think we're finally going to hit $8.