ensurance982
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August 08, 2014, 12:54:02 AM

A three year banking relationship cut off over night with no news, no press release, no explanation, and in the wake of sputtering bids on the major exchange for the West. Ummm, sure, nothing big going on there. Jesus.

So, to recap:

Things going well:
(1) Major retailer adoptions;
(2) Some goof buying a ton of coins for more than he needs to on Huobi;
(3) ETFs galore coming to town soon;
(4) Chinese leveraging about to get really f---ing ridiculous (which is good for at least an initial spike)

Things not going well:
(1) Bitstamp, and Coinbase by association, just got really flaky really quickly with at least (and probably only) a temporary gap in liquidity should a true crisis ensue resulting;
(2) NY and Russian FUD fest;
(3) BTC-e's insurance on shorts are run identical to the NYSE in 1987;
(4) Bitfinex... lololololololololololololol

Summary of Expectations:
(1) Probably a slow and steady upward tick; BUT
(2) The exchanges seem to be more vulnerable to an outside shock than they've been in past years.

So, you'll either make a very modest amount in the next couple of weeks (speeding up to a rocket launch by mid-September) OR you will lose everything. Ummm, back to the f---ing sidelines I go.

Yeah, times are getting interesting, yet the price hasn't quite decided yet. I've yet to see a substantial and bulletproof explanation why the credit bubble on Finex or BTC-e insurances may indeed pose are real risk to the rest of the BTC market, apart from those exchanges themselves.