Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28746. (Read 26629049 times)

 

I suppose at some point the universe will dissolve in fire, and there may be some triangles and pennants outstanding which don't get a chance to break.  

Why do you equate bitcoin price with it failing in any way? The idea and technology are amazing even if bitcoin is only worth $50.

Have the bears a terrible hangover?

March 24 (Bloomberg) -- Tera Group Inc. created a framework for buying and selling swaps linked to Bitcoin that would let investors hedge risk from trading the digital currency.
The firm announced today that it drafted a bilateral agreement that provides a legal template for trading Bitcoin swaps. Tera Group, based in Summit, New Jersey, is seeking clearance from the U.S. Commodity Futures Trading Commission so it can begin trading Bitcoin contracts on its swap-execution facility. Tera Group also said it’s handling a multimillion-dollar swap between two American institutions.
“We as a company are trying to bring some structure and some protocol to help the Bitcoin community,” Leonard Nuara, the president of Tera, said during a phone interview today. “It provides a tool for a natural hedge to get relief from the price changes in Bitcoin.”

...

The CFTC is looking into whether Bitcoin and other virtual currencies meet the definition of a commodity under CFTC rules against manipulation, Mark Wetjen, acting CFTC chairman, said March 11 at a news conference in Boca Raton, Florida, after a speech at a Futures Industry Association meeting.
“The analysis hasn’t concluded, but I think people believe there is a pretty good argument that it would fit that definition, or there are at least arguments that it would,” he said. The agency is also looking at platforms that are seeking to offer derivatives tied to virtual currencies, he said.

always??

that's one certainty about triangles and pennants:  they always break

I have a feeling that this move will break the downtrend triangle in the next week. Go bitcoin!

I think the big thing is getting past the downward triangle from the peak... we can't really feel secure until we breech that.

That said... CCMF!

Also... is everyone staring at charts? why so quiet in here on the bounce?!

Well, we are finally getting our bounce.

See if this one has any legs! I think 598 is a decent target. Of course, anything above 625 and bulls would be officially awake for the first time in weeks.

Otherwise, here we come $535.

So the lesson is not to day trade, at least until we have a wall-street level exchange

KNC Miner dumping (making half a million dollars a day). They aren't concerned about price.
Edit: nevermind. OP was deleted:
http://www.reddit.com/r/Bitcoin/comments/2182nb/kncminers_ceo_sam_cole_dumping_bitcoins_worth/

Of course. This Is BITCOIN!!

$570

NOMNOMNOM/.

Oops, sorry, I did not notice that (it is linked in the Coindesk article as if it were by Greg).

A prudent bitcoin trader will divide his business on a few exchanges and cash out some of his winnings not to risk everything but it is convenient to have all its cash on one exchange instead of paying fees all over the place and not having enough cash to buy when needed

Just posting this for clarity - that particular paper is actually by someone called Zak Wilcox, not Greg Maxwell

It is good advice for long term investors and people who buy/sell bitcoins for commerce purposes.

As others have observed, however, speculative traders need instant access to their coins with no prior warning; and they seem to be responsible for almost all the trade volume on any exchange, and most of its total account balance.  The exchange, on the other hand, needs to ensure that its clients will honor their sell offers immediately. 

QUICK, PANIC BUY EVERYONE

Linked from that coindesk article:
https://iwilcox.me.uk/2014/proving-bitcoin-reserves