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Title: Am I the only one that finds this brief period of stability surprising? Post by: chriswilmer on November 01, 2013, 04:57:24 PM There is no way that the market could have anticipated all of the latest news that has gone viral.
Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: newtothescene on November 01, 2013, 05:01:05 PM I have a lot of trust and hope for the crypto-currency space, but one thing I have noticed is that there is no real stability. I think of it more like the stock market or even roulette at the casino. Just because for the past x days a stock trades at $y doesn't mean we have any idea if it will go up/down/stay today. Same with roulette - getting black 50 times in a row doesn't mean more black or that red is "due" to hit soon. Same way with this market right now. Things go up and down so quickly and often times for reasons that don't make sense or are obvious to most market players.
That being said, the recent rise to $200 is nice and I hope it stays for a while :) Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: Walsoraj on November 01, 2013, 05:01:27 PM There is no way that the market could have anticipated all of the latest news that has gone viral. We are not "stable" until single traders (or small groups) are unable to crash the price to single digits. We are a house of cards. You idiot. Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: rocks on November 01, 2013, 05:47:49 PM Looking at the price history, each period of realative stability creates a new base for the price. Yes I find it surprising right now but believe it means the next move will be up, not down.
Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: chriswilmer on November 01, 2013, 06:00:48 PM I think it's an invisible, multi-exchange bid wall (that is very large), that is causing this.
Does anyone else have a competing theory? Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: leemar on November 01, 2013, 06:05:06 PM I suspect for noobs, $200 sounds a lot for 1 of anything especially if you don't really know what that thing is, oh and then you hear they cost $13 in January.
Of course this is not the point and when new use cases arise, next week, next month, next year the number won't matter. Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: TERA on November 01, 2013, 06:36:45 PM I think it's an invisible, multi-exchange bid wall (that is very large), that is causing this. An invisible multi exchange sell wall.Does anyone else have a competing theory? Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: SheHadMANHands on November 01, 2013, 06:45:40 PM Old money is waiting to see if new money hits the exchanges over the next few weeks, and how much.
That there deposit lag. Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: TERA on November 01, 2013, 07:18:19 PM http://hcd-1.imgbox.com/acgPSVvJ.jpg?st=xgQ293m_zc-r_R_rQ0uiog&e=1383334769
Hey maybe this wasn't a glitch but a brief screwup in the sellers hidden order system. Maybe this is why the i286 a pi is taken down. Someone might have a lawsuit on their hands even. Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: chriswilmer on November 02, 2013, 12:43:51 AM I think it's an invisible, multi-exchange bid wall (that is very large), that is causing this. An invisible multi exchange sell wall.Does anyone else have a competing theory? True... how could we tell the difference? Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: benjamindees on November 02, 2013, 12:44:20 AM Looking at the price history, each period of realative stability creates a new base for the price. Yes I find it surprising right now but believe it means the next move will be up, not down. Right. That would be normal for a growing currency. Stability creates a basis for profitable trade. Profitable trade increases the currency's utility, attracting new users and raising the value. Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: adamstgBit on November 02, 2013, 12:51:46 AM Quote There is no way that the market could have anticipated all of the latest news that has gone viral. bitcoin isn't "going viral"... bitcoin is a phenomena that first manifested in 2010, it will continue to fascinate poeple for ever. :) Quote Am I the only one that finds this brief period of stability surprising? no i'm not surprised. its actually scary watching the market reacting to all this news, i want to buy... dont you? don't you wish the FBI sold us their bitcoins already. :DTitle: Re: Am I the only one that finds this brief period of stability surprising? Post by: windjc on November 02, 2013, 01:21:32 AM Looking at the price history, each period of realative stability creates a new base for the price. Yes I find it surprising right now but believe it means the next move will be up, not down. Right. That would be normal for a growing currency. Stability creates a basis for profitable trade. Profitable trade increases the currency's utility, attracting new users and raising the value. The question is, if your right, how long does the consolidation last. Everyone seems to assume that its been a long time, although its actually only been a few days. Could it last a few weeks, a month, longer? Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: JimboToronto on November 02, 2013, 02:04:09 AM I suspect for noobs, $200 sounds a lot for 1 of anything How does $2 for a million satoshis sound? Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: omehenk on November 02, 2013, 02:17:49 AM Old money is waiting to see if new money hits the exchanges over the next few weeks, and how much. That there deposit lag. New money is coming in,I sold to first time buyers , this was bye far my best week ever. ;D H Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: adamstgBit on November 02, 2013, 02:38:48 AM I suspect for noobs, $200 sounds a lot for 1 of anything How does $2 for a million satoshis sound? sounds, about right. Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: chriswilmer on November 02, 2013, 02:44:50 AM Old money is waiting to see if new money hits the exchanges over the next few weeks, and how much. That there deposit lag. New money is coming in,I sold to first time buyers , this was bye far my best week ever. ;D H Why did you sell? Do you think this is the top? Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: Jabbatheslutt on November 02, 2013, 03:03:26 AM I though it would have crashed by now.
Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: omehenk on November 02, 2013, 03:29:36 AM Old money is waiting to see if new money hits the exchanges over the next few weeks, and how much. That there deposit lag. New money is coming in,I sold to first time buyers , this was bye far my best week ever. ;D H Why did you sell? Do you think this is the top? No , am Long. But am a trader. ;) I dont sell MY coins. H Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: Flashman on November 04, 2013, 11:05:43 AM I'm trying to go longer than a 50 year old Burmese python, but having to bleed a BTC here and there for the bills. But it's great not to have to bleed too many for the required fiat.
Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: chriswilmer on November 04, 2013, 11:14:16 AM I'm trying to go longer than a 50 year old Burmese python, but having to bleed a BTC here and there for the bills. But it's great not to have to bleed too many for the required fiat. I got a few ASICMINER shares for that reason... so that I don't feel like I am losing bitcoins overtime. (it's a pretty small income though) Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: tutkarz on November 04, 2013, 11:28:48 AM I suspect for noobs, $200 sounds a lot for 1 of anything especially if you don't really know what that thing is, oh and then you hear they cost $13 in January. Of course this is not the point and when new use cases arise, next week, next month, next year the number won't matter. That's why if we would switch from 1.00000000 BTC to 1,000,000.00 XBT that would be beneficial for all because it is more human friendly and easier to use. Also you would be exchanging $1 for 10,000.00 XBT which feels like you have a lot of something. Title: Re: Am I the only one that finds this brief period of stability surprising? Post by: Flashman on November 04, 2013, 11:46:42 AM I got a few ASICMINER shares for that reason... so that I don't feel like I am losing bitcoins overtime. (it's a pretty small income though) Well as long as you didn't buy at 4.5 :D I sold my partials right there. Been looking at buying in again, but seems like a bit of a "Hail Mary" that Friedcat pulls something out now. Looking for somewhere to park a few coins that I don't have to babysit 24/7 though. |
