Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26263. (Read 26712695 times)
August 19, 2014, 04:28:24 PM
It's feeling a bit top-ish again, isn't it? Looks like our one day reprieve from the freefall might be coming to a close. Just my gut instinct.
August 19, 2014, 04:26:52 PM
I swear by God, by God, by God, creator of heaven and of Earth, and by His manifestations visible and invisible, and by my Prophet Mohammed Al-Mustafa who taught and confirmed and showed the Faith that we Moors and Suleimans believe, and by the Quran in which it is written in Arabic the Faith that we have, and by the Psalter of David and by the Gospels of Jesus Christ and by the hundred and twenty four Prophets of God of which Adam was the first, and by the soul of the blessed my Father, and by the life of my children, and by my head, and by the sword that I carry that JayJuanGee is not a sockpuppet account that I created for the sole purpose of inflating the count of posts about my person.
August 19, 2014, 04:26:19 PM
This turned out to be an epic call of unprecedented precision.
I demand respect and adoration from every bull in this thread. A brief statement about how awesome I am will suffice for now.
August 19, 2014, 04:26:12 PM
i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol. 
Why does it matter that there are 7300 shorts? because thats a shit ton?
Why does it matter that there are 7300 shorts? because thats a shit ton?
Short: Somebody borrows bitcoins and sells them. Later he will buy bitcoins at lower price and returns them to the lender + interest.
Long: Borrow $$ then buy BTC and sell them later.
On Bitfinex, they have a claim option. If you buy 10 coins at $100, and the price goes up $20, you have $200 profit (10 coins x 20 USD).
You can sell 8 coins, and use the $200 profit to "claim" the remaining 2 coins at the original $100 price.
This means you don't necessarily have to sell all of the original 10 coins.
August 19, 2014, 04:25:39 PM
i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.
Why does it matter that there are 7300 shorts? because thats a shit ton?
Why does it matter that there are 7300 shorts? because thats a shit ton?
Shorting can be seen as this: Right now BTC price is $500 a coin (example) and you think it will be $400 in a week. You don't have any Bitcoins to sell yourself right now so you basically "borrow" someone elses 10 bitcoins and sell them for $500 now. You now have $5,000, but you owe that "person" back 10 coins. So as it turns out your right and the price drops to $400, you now buy back the 10 coins you owed at $400 each, so you spend $4000 and you pay that person's coins back. You just made $1,000 off a falling bitcoin price.
I'm sure someone that uses bitfinex or any other stock exchange often can explain it far better than I, but that's a start. So a high amount of short orders right now, means that many many people are feeling the BTC price will continue to fall....and they are putting their money where there mouth is.
So, lets say I shorted, like in your scenario, could I sell at 450 and only make 500? or do I have to wait til I hit 400?or if it plummets further can I sell at 350 and make 1500? is that right? now, what if it doesn't go down, when am i screwed with a margin call?
August 19, 2014, 04:23:44 PM
HELLO!!!! At one minute, you seem to be defending Coinbase's business practices as ordinary and regular, and then you put these little digs of corruption to suggest that all businesses have corruption.. WTF?
Businesses are composed of individuals, and some individuals are corrupt, but NOT everyone is corrupt. GET a grip!!
Businesses are composed of individuals, and some individuals are corrupt, but NOT everyone is corrupt. GET a grip!!
I did not say either of those things.
I did not accuse or defend Coinbase about anything, just pointed out what would obviously be their interest and need.
I did not say that middlemen taking a slice of the profit is corruption. Obviously, if they did not do that, there would be no middlemen. And of course they try to take as much profit as they can, like everybody else.
Pretty sure this entire thread is just Adam talking to himself with alt accounts.
I swear by God, by God, by God, creator of heaven and of Earth, and by His manifestations visible and invisible, and by my Prophet Mohammed Al-Mustafa who taught and confirmed and showed the Faith that we Moors and Suleimans believe, and by the Quran in which it is written in Arabic the Faith that we have, and by the Psalter of David and by the Gospels of Jesus Christ and by the hundred and twenty four Prophets of God of which Adam was the first, and by the soul of the blessed my Father, and by the life of my children, and by my head, and by the sword that I carry that JayJuanGee is not a sockpuppet account that I created for the sole purpose of inflating the count of posts about my person.
August 19, 2014, 04:18:07 PM
He does that kind of thing a lot with the English language, i.e. calling a country "Holland", but every thing from that country "Dutch" 
This is kinda fun
http://www.cgpgrey.com/blog/the-difference-between-holland-the-netherlands
August 19, 2014, 04:16:29 PM
i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.
Why does it matter that there are 7300 shorts? because thats a shit ton?
Why does it matter that there are 7300 shorts? because thats a shit ton?
Shorting can be seen as this: Right now BTC price is $500 a coin (example) and you think it will be $400 in a week. You don't have any Bitcoins to sell yourself right now so you basically "borrow" someone elses 10 bitcoins and sell them for $500 now. You now have $5,000, but you owe that "person" back 10 coins. So as it turns out your right and the price drops to $400, you now buy back the 10 coins you owed at $400 each, so you spend $4000 and you pay that person's coins back. You just made $1,000 off a falling bitcoin price.
I'm sure someone that uses bitfinex or any other stock exchange often can explain it far better than I, but that's a start. So a high amount of short orders right now, means that many many people are feeling the BTC price will continue to fall....and they are putting their money where there mouth is.
August 19, 2014, 04:13:42 PM
i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.
Why does it matter that there are 7300 shorts? because thats a shit ton?
Why does it matter that there are 7300 shorts? because thats a shit ton?
Short: Somebody borrows bitcoins and sells them. Later he will buy bitcoins at lower price and returns them to the lender + interest.
Long: Borrow $$ then buy BTC and sell them later.
August 19, 2014, 04:12:08 PM
i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.
Why does it matter that there are 7300 shorts? because thats a shit ton?
Why does it matter that there are 7300 shorts? because thats a shit ton?
To short bitcoin you are selling coins you don't own. To do this, you have to borrow them.
So 7300 bitcoins shorted are 7300 bitcoins lent out, that at some point have to be returned. And how will those borrowers get the coin to repay the lenders?
You guessed it, they have to buy them.
So that is 7300 coins of future demand sitting there. An what's more, the positions will have liquidation prices or 'stop losses' setup that will initiate a buy above a certain price (to prevent too great a loss). A cascade of such automated liquidations is called a 'short squeeze'.
Now you can (and should) look at the leveraged longs the same way however - they are bought with borrowed USD, so that is $17 million USD in demand to buy USD with BTC, aka sell bitcoin. (That's about about 35,000 at current price if we unrealistically assume no slippage)
August 19, 2014, 04:12:04 PM
I believe Jorge has said that he is an Italian native also. Maybe he forgot his Italian since he has been away... 
My parents were Italian, from the Veneto region. But I was in Nàpuli recently, and I happen to know a bit of Napulitànu, e.g. http://www.ic.unicamp.br/~stolfi/misc/PigliateNaPastiglia.txt
I have it from a reliable source that when God created the English language He initially meant to call the city "Neaples", from the Greek, and the things from there "Napolitan", from Italian; but He then switched the spellings around, and does not remember why.
Sciàvo, then
By the way i've also a vetted interest in your county *ahem*.
August 19, 2014, 04:11:20 PM
I believe Jorge has said that he is an Italian native also. Maybe he forgot his Italian since he has been away...
My parents were Italian, from the Veneto region. But I was in Nàpuli recently, and I happen to know a bit of Napulitànu, e.g. http://www.ic.unicamp.br/~stolfi/misc/PigliateNaPastiglia.txt
I have it from a reliable source that when God created the English language He initially meant to call the city "Neaples", from the Greek, and the things from there "Napolitan", from Italian; but He then switched the spellings around, and does not remember why.
He does that kind of thing a lot with the English language, i.e. calling a country "Holland", but every thing from that country "Dutch"
August 19, 2014, 04:10:35 PM
but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.
You go find a guy with a shaved head, biceps like semi-trailers and tattoos all over his arms legs and half his face. You borrow a bunch of money off him with your house, your car, your wife, children and kneecaps as collateral then you walk into a casino and up to the roulette wheel and put it all on black. Then the slim rich guy with the pointy goatee quits stroking his cat for a second and picks up the ball and puts it on "0"
August 19, 2014, 04:07:00 PM
i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.
Why does it matter that there are 7300 shorts? because thats a shit ton?
Why does it matter that there are 7300 shorts? because thats a shit ton?
Double to triple what it was about a week ago and that is on Finex which really doesn't favor shorters at all.
August 19, 2014, 04:05:16 PM
i wish someone could explain to me this in english, I understand that a short is betting that it will go down, long the opposite, but how does it work in detail? can someone give me an example? like they were explaining it to a 5 year old? lol.
Why does it matter that there are 7300 shorts? because thats a shit ton?
Why does it matter that there are 7300 shorts? because thats a shit ton?
August 19, 2014, 04:04:58 PM
Why do people suddenly start selling after the price has reached 120? Doesn't make much sense to me?
Shroomy, always looking on the positive side Classic
lmao!
so fucking butthurt, thats my shroomy!
Consistently and long-term butt hurt lil doggie bird.
August 19, 2014, 04:02:56 PM
Shorts on Finex already increased to 7000BTC. Blame it on Falllllling.
have the shorts increased again?
About 7300 total.
Same thing happened on the run up to $520-525 the other day. It is an omen from the Gods.
August 19, 2014, 04:01:53 PM
I believe Jorge has said that he is an Italian native also. Maybe he forgot his Italian since he has been away...
My parents were Italian, from the Veneto region. But I was in Nàpuli recently, and I happen to know a bit of Napulitànu, e.g. http://www.ic.unicamp.br/~stolfi/misc/PigliateNaPastiglia.txt
I have it from a reliable source that when God created the English language He initially meant to call the city "Neaples", from the Greek, and the things from there "Napolitan", from Italian; but He then switched the spellings around, and does not remember why.
August 19, 2014, 04:01:33 PM
I'm a buyer at $535, $518 and $504.
Stop loss at $441.
Stop loss at $441.
Still there. Down 7% ATM.
Wow
August 19, 2014, 04:00:16 PM
I'm a buyer at $535, $518 and $504.
Stop loss at $441.
Stop loss at $441.
Still there. Down 7% ATM.
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