Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21972. (Read 26608818 times)

We've had fairly good volume on finex for the last three days, while staying within the 220 range. Not much, but I have hope.

Hope you're right bro.

Funny you guys have the same gut feeling. I had a dream last night about the price continuously rising to no end, I woke up mid sleep to check the price to see if it was real  we'll see what happens Monday...

Coin
Explanation

I share your feeling!

I have a bold prediction that something BIG is happening on monday. And I am (semi) ready to take the shitstorm if I'm wrong monday evening. It's a gut feeling based on a small list of facts:

1. President of USA candidate Rand Paul is attending on a bitcoin (or blockchain, ha ha) event on sunday. These candidates tend to time their PR campaigns with very good inside information.

2. "Wall Street enters bitcoin" is so f*cking ripe now.

    2A: COIN ETF on NASDAQ waiting for two years for approval with a experienced and competent woman running the process ("Spider Woman" Kathleen Moriarty).

    2B: GBTC with investment bank bidders hanging for weeks.

    2C: Facetwins (again) having the logistics ready months ago for Gemini bitcoin exchange, but waiting for BitLicense.

    2D: NYDFS Expects Final BitLicense 'Very Soon'.

    2E: The evil witch Blythe Masters (her "credit swap" invention kicked a lot of good americans out of their homes and into the trailer park) has joined bitcoin trading platform Digital Assets Holdings LLC as chief executive.

    2F: Headline: "Nasdaq Trading Technology to Power Bitcoin Marketplace Noble" (To drunk to explain in my own words).

    2G: Headline: "SecondMarket's Bitcoin Desk Relaunches as Genesis Trading" (Again, drunk to explain in my own words).

We all know that good news is bad for bitcoin price. But these news are all related to a greedy need for bitcoin (just in case it actually becomes important!) and a real demand you will see on the exchanges.

Long story short: I'm really becomming a Vodka Viking now, and I'm proud of coining the expression "Facetwins"! (Better than "Winklevii" or "Facebook Twins", ha ha.)

SKÅL!

I've been concerned about it for a while. There are 25 million dollars of longs on Bitfinex. That's over 100 thousand bitcoins that need to be sold at the current price to close them. There does not seem to be bids for that many coins on all the exchanges combined at any price. And if the price goes lower, more coins need to be sold.

The other posters are paid by NotLambChop to talk about this.

edit: Some of those longs might be in altcoins, I guess, but if even half of them are in bitcoins, it still seems excessive to me.

They sold and are lending $ to bulls ( in denial ) at tempting rates , now worrying about their funds! 

Notice the fine print:
"Genesis hopes that rebranding as its own entity will help the firm gain new clients", he added.

Translation:
"We've been laughed out of town as SecondMarket, so we decided to rebrand ourselves as Genesis and hope no one notices."  

mega pump? lol

Well, arbitrage in BTC only will be tricky. And fiat is too expensive to move.

I don't think it's any point in going in and out of shapeshift to convert BTC => Litecoin => BTC when doing arbitrage. Maybe I don't understand what you mean, fellow viking!  

Why are many of you suddenly concerned about a long squeeze?

Arguably yes, the possibility exists of the funds being accepted and confirmed faster w/ ltc than btc. However on the few occasions I've tried with this, the LTC transfers have been sufficiently delayed for whatever reason close the window on any said opportunity. Likewise not all exchanges accept LTC and offer that arbitrage opportunity. Theoretically it makes a lot of sense and I've heard (as I'm sure we all have) of users successfully rotating through such a system for small profits.

I think so too, I have nothing at finex or OkCoin atm.

Edit:

When I got liquidated I was bullish 

win some and lose some 

They do not have a policy, they will decide what to do when that happens based on how big the loss is.

It DID happen one in the past and the loss was small enough they could take it and they took the loss, otherwise their exchange would be dead (all customers would have gone). So next time they might do it if the loss is not too big, but bitfinex does not have 25m$ of reserves, nor would they want to give it away should this happen.

In case of strong flash crash, only part of the lending money would be lost anyways, so lenders would take a haircut if Bitfinex can not / does not want to absorb the loss. But then again, it is completely normal, otherwise they should get 0.25%APR on their money, not ~30% !!

Thanks for your response, sir! As you write "Most likely..", I assume that you have not done this yourself. But I think everybody in this thread believes arbitrage trading IS happening. For a reason. I know there are fees, but have anybody else here experience with this style of trading? Maybe it's such a good concept that you don't talk public about it, or even bother to visit this forum? He he.
SKÅL!!!

 

i think he said that because you was a bear and keep shorting on bitcoin   

Coin
Explanation

I absolutely could be. 

I just can't find any proper information if such an event were to occur.  I would assume bitfinex would cover the difference, but if its not stated then I would assume the lenders would get a % back of the funds lent.