Bitcoin Thread

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Swa said:
Finally reached my 1 BTC mark. Am now a true Bitcoin holder. :love:

Now if only it was December 2017...
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Congrats! The first one is always the sweetest :). You are now officially one in 21 million (although more like 17 million, due to lost Bitcoins).

Remember that there are not enough Bitcoins for every dollar millionaire in the world to own one :)
 
Still don't know what the next move is but I'm happily holding my long on Bitmex whilst getting paid for it. Got 0.143 BTC from funding rate fees for keeping my long open in the last 6 days.

Still looking to sell around $3700 or buy more around $3k or lower. No trade in-between for me.
 
SaiyanZ said:
Still don't know what the next move is but I'm happily holding my long on Bitmex whilst getting paid for it. Got 0.143 BTC from funding rate fees for keeping my long open in the last 6 days.

Still looking to sell around $3700 or buy more around $3k or lower. No trade in-between for me.
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Nice, I need to look into holding my longs on Bitmex....
 
balrog said:
Nice, I need to look into holding my longs on Bitmex....
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It only works now as the market is overly bearish. So could backfire if the price goes up as it should then switch to the other way around where longs pay shorts. Though in that case you'd make profit from the actual trade as long as you close the long and don't keep holding for days.

https://www.bitmex.com/app/fundingHistory?start=0
 
SaiyanZ said:
It only works now as the market is overly bearish. So could backfire if the price goes up as it should then switch to the other way around where longs pay shorts. Though in that case you'd make profit from the actual trade as long as you close the long and don't keep holding for days.

https://www.bitmex.com/app/fundingHistory?start=0
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How do I tell whether Bitmex is paying longs or shorts from the funding history?
 
Azg said:
How do I tell whether Bitmex is paying longs or shorts from the funding history?
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In the link you can click on XBTUSD so it will sort by it. A negative funding rate means shorts pay longs. Positive means longs pay shorts. The fee is also applied to your leveraged position. So if doing 5x leverage with 1 BTC you get the fees applied to 5 BTC.

On the bottom left of the Bitmex trading screen you can see how much you will pay or receive in fees and at what time. In 7 hours I'm going to get 0.0034 BTC on my current position. This fee is received/paid every 8 hours and then updated to a new rate for 8 hours later. If I had a short open for the same amount I would have to pay 0.0034 BTC in 7 hours.

bitmex6.png
 
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Keskky said:
Your wild guess, at what price will Bitcoin end next year?
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UntidyEssentialGermanspaniel-size_restricted.gif
 
Finally, BTC being a gentleman and testing the bottom, we even wicked further down. Atleast on mex that is. Now things get interesting. Either the level holds or we roll over down to new lows. Can't sleep when Asia is awake.
Screen Shot 2018-12-14 at 2.31.36 AM.png
 
The interesting thing about that drop to $3160 on Bitmex is that Bitstamp didn't even drop below $3200. So there weren't too many liquidations on longs as you only get liquidated if the Bitstamp price drops. Rare to have that much of a gap.

Also noticed the other day that there is some maniupulation on the price on Bitmex with bots. Two $10m sell orders were constantly trying to push the price down. They weren't actually trying to sell. In the past when this happened it was usually was people trying to hold the price down for long enough whilst they bought or forced people to sell into their buy orders.
 
SaiyanZ said:
The interesting thing about that drop to $3160 on Bitmex is that Bitstamp didn't even drop below $3200. So there weren't too many liquidations on longs as you only get liquidated if the Bitstamp price drops. Rare to have that much of a gap.

Also noticed the other day that there is some maniupulation on the price on Bitmex with bots. Two $10m sell orders were constantly trying to push the price down. They weren't actually trying to sell. In the past when this happened it was usually was people trying to hold the price down for long enough whilst they bought or forced people to sell into their buy orders.
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Bitmex liquidation price is an average of Bitstamp+Coinbase. Any large movement on those two would flip the price more rapidly.

This is a pretty fun site to monitor the short/long movements and see real time effect it has on market.

https://coinfarm.online/?tcs=1h

That said today or over the weekend we will be constantly testing below $3200 prob even break the $3000-$3100 range if not even lower. Weekend should be interesting to see what next week will start of as.
 
SaiyanZ said:
Just saw about $30m of shorts get liquidated in a few minutes on Bitmex with this smallish pump. Haven't seen anything like that for a few weeks since I started following Bitmex.

https://twitter.com/bitmexrekt?lang=en

There was even a $7m liquidation for Ethereum.

https://twitter.com/x/status/1074638897827729408
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Very entertaining (especially when you got out of short about $10 before it all went down)

I have that https://coinfarm.online/?tcs=1h running 24/7 on spare screen. We are about to break $200million in long positions on Bitmex.
 
Just had liquidations round 2. Interesting thing is that even with the two upward moves, the funding rate on Bitmex is still in favour of longs. My long from a week ago is still open and I'm getting ok interest there. Now over 0.2 BTC for just holding it. Want to close soon though. Just need another $100 pump.
 
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