Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 12969. (Read 26715512 times)

I watched the nearly 30 minute presentation that you pointed out, itod, and I am not sure whether I understand that significance - and how it is being talked about by everyone?  Seems to be some fairly radical proposals that could take 3-5 years to fold into bitcoin, even if there were consensus about the proposed direction(s) contained therein, right?

In my earlier post, I was referring to a situation in which someone has bought BTC near the top of the previous bubble, and then that same person get's stuck with an average cost per BTC that is way higher than the current BTC price (let's say average cost per BTC is in the $15k or greater arena and the person is about 50% in the red with his/her investment), and does not do anything (including does not buy more BTC), and seems to be contemplating selling the BTC that s/he already had bought rather than having some kind of plan that involved continuing to buy BTC in order to bring down his/her average cost per BTC.

It is a strange mentality because it seems to be investing based on very superficiality considerations (namely believing that the price is going to continue to go up and if the price does not go up, then either 1) there are opportunity costs to holding, 2) the price might go lower so can buy more BTC or 3) gotta get out now because scared.. blah blah blah.


You are likely razzing me, because you know that I don't really believe in playing around with margin.

I believe that anyone buying into BTC needs to learn the non-marginal (nonleverage) fundamentals first before advancing to playing around with margin - which likely drags folks into even more gambling mentality than they are already inclined towards.

in other words, playing around with margin/leveraging tends to be a much more complicated investment tool that requires even a greater set of skills than normal trading ---- such as mere buying on the way down and selling on the way up...  Even for very smart people, have troubles with the more basic strategies, so I would not recommend playing with margin/or leverage until after the person has developed a decently strong basic game, first.

And, even in bitcoin, the historical degree of volatility might justify that leveraging and/or margin trading is NOT necessary because the returns can be incredibly stupendous with a mere basic accumulation game that does not involve such additional skills and strategies that may just end up greatly increasing the odds for folks to end up losing in what seems to be an otherwise highly probable winning game.

examples like this come up every year or so and it is why the SEC is not going to approve an ETF for a very, very long time. Thegood  thing though is that this does not effect bitcoin one little bit other than make adoption slower by potential new people nervous about crypto. But the banks in Australia at least (and New Zealand since they are the big banks their too) are pretty good at screwing the people over. The interim report by the Royal Commission into the banks says about why the banking scandals happened that  “Too often, the answer seems to be greed – the pursuit of short term profit at the expense of basic standards of honesty.” That has to be one of the best statements ever about why bitcoin is needed - it gives people a choice and also control over what happens to them

I could swear I've heard this tune before

The Bitcoin price moves less than 1% and Bitmex shits the bed and loses everyone’s balance for an hour.  All balances showing as zero so no one could trade. 

Well, if they are going to run a stablecoin that claims to be backed by fiat rather than a p2p community(like most cyptocurrencies), they need to be more transparent. Oh well, I am an American; so, I really can't use them ATM. (However, I do use other exchanges that use Tether, so could still be affected if something is wrong.)  My holdings with them are dust that I left when I made my exit after their 2016 hack.

bang bang bang bang

https://www.youtube.com/watch?v=1ysBE0dT4vg

Good

The BFX blog post does nothing to address concerns they are running a fractional reserve. Along with every other exchange out there. 

I'm not thrilled with the fact that they are holding over 150K BTC in one multisign address, even though it is a cold wallet. Hopefully it is more than a 2 of 3 multisign; otherwise, all one needs to do is compromise 2 of 3 keys to steal that amount of BTC. Bitfinex already had multisign addresses compromised in the past. Also, it would have been nice if they gave us some kind of supporting document listing their fiat holdings.

Edit: Just looked. It's a 3 of 6 multisign. I guess that is a little better.   I certainly hope they have the 6 keys stored in separate locations and have a way to airgap the signing process.

Nice Lambo in Sydney



I know that it's McLaren 570S

I think a toddler's doodle might be the most accurate.

pretty accurate  
(not my idea)

Surely not..... but sometimes a chart passes by here and there  
And when sideways gets boring as last months , then everything gets a hodlers attention for distraction 

moon soon

Mic are you a TA analyst now?  Lol. 

BFX blog post re recent market rumors

http://blog.bitfinex.com/announcements/response-to-online-rumours/

via Imgflip Meme Generator

The ones that says : breakout anytime soon.... ,that are mostly the ones i watch 

Maybe i’m too big of a BULL from time to time

It could also have been someone attempting to test the liquidity (or lack thereof) of certain exchanges.

Not only did it show just how illiquid altcoins are (and thus vunerable), but the lack of other bots following the price swings means that the majority of algo bot accounts are owned by.... dun dun dun! the exchange owners themselves.  

I.e. no one else is trading there.

I'm not referring anyone to anything Hairy.
I'm just Guinea-Pigging it ATM, but yeah, I hear you.  I did ask earlier if anyone knew anything about it.

well, Id like to still hear about the really good ponzis