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Title: 8/22/11 Speculation Thread Post by: tacotime on August 22, 2011, 02:34:39 PM Lots of buyers of bitcoin, not a lot of sellers.
Big, insurmountable 11$ wall on Mtgox similar to Saturday's 12$ wall. Fortune cookie reads: A starship ride has been promised to you by the Galactic emperor Title: Re: 8/22/11 Speculation Thread Post by: Edward50 on August 22, 2011, 03:00:48 PM Not lots of buyers, fake bid walls.
Somebody is shoring up the bid side by putting in buy orders, but they are not actually buying bitcoins unless the price falls and hits their bid order. The volume is very low so you can easily shore up and manipulate the price very easily. These fake bid walls of thousands of bitcoins were always in place, and always have been pulled back (disappeared) during major selling. The price can be easily manipulated, but the question still remains. How much money will they spend artificially keeping the price high? Why is this person only placing bid orders below the current bitcoin price, why is this person not actually buying any bitcoins? This has been going on since the price hit into the mid single digits. Title: Re: 8/22/11 Speculation Thread Post by: tacotime on August 22, 2011, 03:04:54 PM Why is this person only placing bid orders below the current bitcoin price, why is this person not actually buying any bitcoins? This has been going on since the price hit into the mid single digits. The HFT bot is king. But, it doesn't matter. I think by 3-5 EST today something fun will happen. Someone is eventually going to have to sell off a few thousand. Title: Re: 8/22/11 Speculation Thread Post by: Elwar on August 22, 2011, 03:09:15 PM The excitement of watching it jump back and forth from 11.25200 to 11.25209 over the past hour is mind boggling!
Title: Re: 8/22/11 Speculation Thread Post by: 322i0n on August 22, 2011, 03:44:13 PM How long this fake bid wall will last with only bots buying and selling 0.25 a time. who ever owns that bid wall is going to get bored of trying to push the price up against a bearish market, when they do they going to dump whatever it is they are holding. IMhO.
Title: Re: 8/22/11 Speculation Thread Post by: tacotime on August 22, 2011, 04:33:51 PM I cashed out and am sitting at 80:20 USD:BTC.
Personal forecast is a push to 9-10USD/BTC in the next 48-72hr until we at least get some press from this conference. Buy back target for me is about 7-8$ USD, although I feel the actual bitcoin price should be closer to 5-6$ USD. But bitcoins are what bitcoins cost. Title: Re: 8/22/11 Speculation Thread Post by: Elwar on August 22, 2011, 04:56:30 PM I cashed out and am sitting at 80:20 USD:BTC. Personal forecast is a push to 9-10USD/BTC in the next 48-72hr until we at least get some press from this conference. Buy back target for me is about 7-8$ USD, although I feel the actual bitcoin price should be closer to 5-6$ USD. But bitcoins are what bitcoins cost. People were expecting huge news from the conference so they held. The conference seems to be a bit of a dud as far as the CNN, Al Jazeera, etc hype. I see a slow push back down to $9 before the conference holding began. And back on track with the dollar a week decline from there on with slight upticks from media write ups here and there. Title: Re: 8/22/11 Speculation Thread Post by: indio007 on August 22, 2011, 05:15:04 PM Bitcoin won't make a large move up till there is
1. Credible Hype from the Lamestream media or 2. Significant (100k USD or more) buy-in of new money or 3. New and innovative merchant that accepts bitcoin Number 3 is the best choice for long term acceptance and stability. Title: Re: 8/22/11 Speculation Thread Post by: tacotime on August 22, 2011, 05:16:06 PM Yeah. This is the only bit of press I've seen so far:
http://www.finextra.com/news/fullstory.aspx?newsitemid=22882 Title: Re: 8/22/11 Speculation Thread Post by: FreeMoney on August 22, 2011, 05:41:17 PM Plan:
Get $110,000 Send to MtGox Place huge buy order Pray it doesn't get bought ??? Profit? Title: Re: 8/22/11 Speculation Thread Post by: tacotime on August 22, 2011, 05:44:45 PM Good-bye huge wall
SELL SELL SELL Title: Re: 8/22/11 Speculation Thread Post by: zby on August 22, 2011, 05:46:34 PM Plan: Get $110,000 Send to MtGox Place huge buy order Pray it doesn't get bought ??? Profit? No - it involves a bit more complicated plan - and it could work, but actually it does not seem likely any more. Title: Re: 8/22/11 Speculation Thread Post by: Philj on August 22, 2011, 05:51:31 PM one chunk at 405 out of that 11.14 wall and it's still up, so its not completely fake.... we'll see how it does over the next few minutes / hours.
Title: Re: 8/22/11 Speculation Thread Post by: Philj on August 22, 2011, 05:53:41 PM haha. 5 seconds after I posted, the 11.14 wall fell. Time for a fun ride.
Title: Re: 8/22/11 Speculation Thread Post by: fcmatt on August 22, 2011, 05:59:51 PM haha. 5 seconds after I posted, the 11.14 wall fell. Time for a fun ride. There she goes.. straight to Davey Jone's locker. Title: Re: 8/22/11 Speculation Thread Post by: zby on August 22, 2011, 06:01:52 PM Plan: Get $110,000 Send to MtGox Place huge buy order Pray it doesn't get bought ??? Profit? No - it involves a bit more complicated plan - and it could work, but actually it does not seem likely any more. And yet this is what happened. Anyone volunteers to explain the '???' there for those left behind? Title: Re: 8/22/11 Speculation Thread Post by: bitclown on August 22, 2011, 06:12:05 PM Plan: Get $110,000 Send to MtGox Place huge buy order Pray it doesn't get bought ??? Profit? No - it involves a bit more complicated plan - and it could work, but actually it does not seem likely any more. And yet this is what happened. Anyone volunteers to explain the '???' there for those left behind? It's probably more like this:
Title: Re: 8/22/11 Speculation Thread Post by: rikur on August 22, 2011, 06:15:19 PM OP was so clueless. It's falling down without any resistance :/
Title: Re: 8/22/11 Speculation Thread Post by: tacotime on August 22, 2011, 06:18:21 PM OP was so clueless. It's falling down without any resistance :/ OP post was several hours ago, not right now. Title: Re: 8/22/11 Speculation Thread Post by: fastandfurious on August 22, 2011, 06:22:46 PM Why is this person only placing bid orders below the current bitcoin price, why is this person not actually buying any bitcoins? This has been going on since the price hit into the mid single digits. The HFT bot is king. But, it doesn't matter. I think by 3-5 EST today something fun will happen. Someone is eventually going to have to sell off a few thousand. HFT bot? Trust me, there is no HFT going on with Bitcoins. Title: Re: 8/22/11 Speculation Thread Post by: rikur on August 22, 2011, 06:26:22 PM OP was so clueless. It's falling down without any resistance :/ OP post was several hours ago, not right now. Ah, so the "daily" speculation turned into hourly speculation? Got it. Title: Re: 8/22/11 Speculation Thread Post by: tacotime on August 22, 2011, 06:29:29 PM Title: Re: 8/22/11 Speculation Thread Post by: fcmatt on August 22, 2011, 06:38:56 PM well i just put in a buy order at 9.50ish that i will not keep an eye on for the next few hours.
i am such an optimist. at work.. should be working ;-) I doubt it will happen as my feeling was a low of 10 this week but one can hope another big sell drives it down further. I am assuming a lot of that bid wall is fake but just enough is not so it will not go down too much. I obviously have no clue what I am doing. Title: Re: 8/22/11 Speculation Thread Post by: 322i0n on August 22, 2011, 06:46:10 PM sh!t, I missed the fall of the wall. so was it fake or did some one just buy 10000 btc at 11.14?
Title: Re: 8/22/11 Speculation Thread Post by: Elwar on August 22, 2011, 06:56:14 PM sh!t, I missed the fall of the wall. so was it fake or did some one just buy 10000 btc at 11.14? It was fake. |
