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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24216. (Read 26609692 times)

legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
Hmmm Jayjuanmagee sure does post a lot, he must have a lot of great comments to contribute to this thread. I wouldn't actually know because I muted him long ago due to his constant spam, so I haven't got a clue who he is talking to. Maybe to himself? That would make sense, considering he has four constitutive posts on just this page alone. Who are you replying to jayjuanmagee?

Oh wait, I do NOT care, I can NOT hear you. Because you're muted.

Lalalala

But seriously, maybe you should calm down and consolidate your thoughts into a single post instead of this constant barrage every day all day. I suspect the quality of your posts would increase, more people would take you seriously, and fewer people would keep you muted.

I usually would make a more substantive comment, but in this case probably a simple : Fuck you. would do.   Cheesy Cheesy Cheesy
sr. member
Activity: 378
Merit: 254
[fear and desperate, unconvincing denial]

Don't fret, filthy Bitcoiner.  All will be taken care of.  We have plenty of time.

full member
Activity: 271
Merit: 101

more drivelling nonsense


You completely ignored the fact that there are a lot of different platforms out there to trade any instrument you can imagine on. The only reason to adopt OKcoin is because they want to trade bitcoin somehow.
sr. member
Activity: 378
Merit: 254
whats up with huobi ?

Not looking good. It's been flatlined for hours

Chinese authorities have finally caught up with the Bitcoin malefactors.
You didn't think such a malignant boil on the face of society would remain ignored forever, did you, criminal scum?



*Good morning, gentlemen.
full member
Activity: 150
Merit: 100
Huobi is not down normally can trade there only bitcoinwisdom seems to not work properly!!!!
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 322
Merit: 252
Here I Am !!
whats up with huobi ?

Not looking good. It's been flatlined for hours

Whoever is running this doesnt care about what we trade here. They want some whales to unload some cold storage coin. they want blood.
legendary
Activity: 1025
Merit: 1000
whats up with huobi ?

Not looking good. It's been flatlined for hours
legendary
Activity: 1260
Merit: 1000
World Class Cryptonaire
We will see a recover after the black friday.

Won't we?

Black Friday has little effect on the price of bitcoin... gotta wait until December 4th or soon thereafter.... but NO guarantees anything will happen after December 4; however, less likely any kind of rally will occur prior to December 4.

Out of curiosity why are you stating an importance to December 4th?

It's the date of the us marshalls auction of the 50k btc from silkroad.  I doubt that we will have a rally before that auction date, but never say never in bitcoinlandia.  Also, no guarantee of any meaningful price action after that date, but I tend to believe that several big players, including bidders, have incentives to keep prices down until after the auction bids are in.

Thank you for the explanation, not sure why I didn't realize it was the auction date. I wonder if the losing bidders will buy any coins off exchanges after they lose the auction?

I actually believe the 3D MACD will cross above the signal line on December 5th. It would be cool for these stars to aline and begin our next rally.

Disclaimer: I don't conduct any real TA and I'm not convinced of its effectiveness, but it is fun to play with Smiley
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
hero member
Activity: 656
Merit: 500
whats up with huobi ?
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Good Morning people! Huge dumps and pumps today from 376-380... Such drama, much profit! Grin
hero member
Activity: 748
Merit: 500
I've just read about a major failiure in blockchain and a big theft of more than 10000 wallets

Link?

https://blockchain.info/wallet/security

sorry for waiting i had to dump my coins

My ignore list is going to the moon Cheesy
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1834
Merit: 1094
Learning the troll avoidance button :)
A few more days to the Bitcoin auction
With the black friday finished this will be an interesting week 
(Yes every week is interesting but at least I have reasons this time Tongue)
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1260
Merit: 1000
World Class Cryptonaire
I gotta go with paper wallets as well. I don't entirely trust circle. I'll buy BTC there or Coinbase but then I'll transfer to my paper wallets.

I buy directly into paper wallets and mine directly into a paper wallet. I haven't used an exchange since May.

I do keep a couple of dozen coins at an exchange in case of an emergency or exceptional trading opportunity and less than 2 coins on my Android device for shopping, but I'm aware of the risk involved.

Hopefully you never encounter a house fire.

I have encrypted offsite backups.

Perfect Smiley . I always recommend that, but few actually do it.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
hero member
Activity: 910
Merit: 1003
3bn hedge funds decide to borrow software from some random btc site to trade other stuff? makes sense, because multi billion dollar hedge funds couldn't possibly buy their own servers or write their own software without involving a third party if it had  nothing to do with bitcoin.

I worked with high frequency trading firms, who were in the same sort of valuation league as the afore mentioned hedge fund, these are companies that will spend $2000 on their lunch order and hire the best network and programmer guys in the world on salaries of hundreds of thousands of dollars *per month* in order to gain just a millisecond or two advantage on the market, to think they'd just co opt third party software or even borrow a server is absolutely stupid.

The only possible explanation for a hedge fund trading on a bitcoin exchange is that they have something they want, and cannot simply buy for themselves, and the only thing okcoin possibly has that they do not have or cannot buy is access to bitcoin market info, or the liquidity they need to play.

It's not neccessarily a good thing like some of the more myopic believers in here think, they could just plan to HFT the market and suck every penny out of everyone until btc is worthless, if they can. hedgefunds, HFT firms and the like do not *need* the market to increase in value to turn a profit, so the fact a hedgefund is involved doesn't neccessarily mean the price has to spike, as professor stolfi seems convinced should have happened if it were true.

A trading firm doing HFT is quite different from a fund seeking to set up an exchange where his titles can be traded.  Not only is the software completely different in purpose and scale, but the goals are too.  For HFT the most important thing is original algorithms that can outsmart the competitors.  For an exchange, the most important is reliability, speed, support for thousands of clients, etc.  HFT software can be developed quickly from scratch and put  to work with minimal testing; exchange software must be developed with care and extensively tested before being put in operation with real clients, because the stakes are much higher.

OKCoin got at least 10 million $ of venture capital, and must be making lots more money from arbitrage, withdrawal fees, interest on leverage trades, etc..  Apart from a few dozen customer support people, it does not have much to spend it on except servers and software development.  They have bragged about their previous experience with TI for banking.  They have the highest volume of any exchange, an order o magnitude more than "Western" exchanges; and, in my recollection, they have had few or no downtimes, bugs, or security breaches.  So their platform is certainly good enough for trading more traditional instruments of a smallish fund.  Why would such a fund spend months to develop their own trading platform, if they can buy one that is ready and well-tested?

Why would a hedge fund decide to play with bitcoin at this point in time?  I could understand if it wanted to buy Argentinian Pesos as a hedge against the inflation of Venezuelan Bolivares -- but bitcoin?  In 2013 the Fortress group (worth a lot more than 3 G€) had invested in bitcoin, which gave then their only red entry in their 2014 Q1 report.  They promptly and quietly swapped their bitcoin with Pantera, not for shares of their fund (PBP) but for equity in the company that manages the fund -- which, like SecondMarket, will make a profit even of the BTC price goes to zero. 

If the fund wanted to trade in bitcoin, why would it enter in advance negotiations with OKCoin?  It could just open an account, deposit how much money it wanted to, and start trading, increasing its exposure gradually. In fact it should open accounts in a some other exchanges, for increased liquidity and better prices.  If it wanted bitcoins as an asset for its instruments, it could also buy off-exchange.

Here is the sentence that started the rumor:

Quote
“Also very exciting, we have a new client. I cannot disclose the name yet. It’s a €3 billion market cap client. They just do hedge fund trading, and they’re going to be trading on our platform. That’s a pretty big institution.”

Read carefully that sentence.  It does not mention Bitcoin. It does not mention Litecoin, which its heavily traded at OKCoin, too.  Somehow bitcoiners read that sentence to mean "the fund will trade bitcoin on our exchange".  Why bitcoin and not litecoin?  Answer: because it was wishful parsing -- they read what they wanted it to say, not what it actually said. 

All echoes of that rumor in bitcoin media and forums were entirely based on that sentence, padded with a page or two of wild speculation.  In spite of headlines that said "OKCoin confirms...", no confirmation came from OKCoin.  That rumor started the rally, and OKCoin was clearly leading it.  A couple of days later, since there was no confirmation, many people on reddit and forums started doubting it.  The pessimism must have spread among traders, since the price crashed to almost the same level it had before the rally.  (There is still a lingering effect; apparently there are still some traders who believe in the "trade bitcoin" reading.) 

If the "trade bitcoin" reading was correct, why didn't OKCoin give at least an indirect hint to the market (like "we cannot talk about that topic, but the future of bitcoin is now incredibly bullish"), to keep the rally going?

Surely we can all agree that the sentence is ambiguous: it does not clearly say that the fund will use OKCoin's platform to trade their instruments, but does not say that it will trade bitcoin either.  So, you keep your reading, I'll keep mine.





legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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