Oh look, asterisk. Time to short  BINGO!!!! Btw, Im holding pocket aces... just so you can rape me on this next hand.. |
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It's quite common to see goal orientated analysis on the Bitcoin forum. It goes something like this: "Bitcoin is going up, so what reasons can I find for it doing so?" and "Bitcoin didn't go up as it should have, what reasons can I find for it not behaving the way I expected?"
Bitcoinica is the latest in a long string of entities blamed with either failing to pump the price up, or clamping the rise. Bitcoinica has replaced 'the manipulator'. On the up side, The Good Wife failed to produce thousands of eager new bitcoin customers right after they saw the show (despite claims by many this would happen).
You dont understand the internals of whats going on with bitcoinica.. Its a bucket shop, with very little leverage, that makes a sign when they are out of leverage.. This is the equivalent to poker and telling your opponent your hidden cards.. Bitcoinica is a huge player on mtgox, it stands to reason, people with the money are heavily abusing this mirror under the poker table.. The starfish to me is just saying bitcoinica is offering too much leverage if they cant afford to give it to everyone when they ask for it.. And if you actually play with bitcoinica, you'll notice that you cant cash out when its profitable, because they have no funds left.. I good rule would be to have as much in leverage for everyone to go to their max leverage, what ever that is.. If you cant do that, dont offer as much leverage, its getting ridiculous.. |
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we put all our funds into the same (fake) support wall at some price for example, we all put a bid at 5.00 and make a wall of support sky high or if we all install some open source bot that would slide our fake wall always 10% under the current price The key word here is "all". It only takes one person to change their strategy and act counter to everyone else for the whole 'fake' bid wall to unravel. If a trader finds a way to make money because everyone else is colluding to do something else, they will. I would like to play poker.. btw, i have two Aces in the hole.. |
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Wait a minute! There's like a month and a half missing.  lol Me and Rynin DEMAND ACCOUNTABILITY!!! lmao |
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This statement is an observation of what could happen. I am not predicting $8, but I'm saying that it's possible.
The norm in Bitcoin rallies recently has been double ramps, followed by coasting up to the next resistance level.
Intraday rallies in Bitcoin history:
$3.2 -> $3.7, stagnate at $3.5, up to $4, coast to $4.5 past light ask resistance.
$4.2 -> $4.6, stagnate at $4.5, up to $5, coast to $5.5 past light ask resistance.
$4.9 -> $5.3, stagnate at $5.2, up to $6, coast to $7 past light ask resistance.
Next up?
$5.5 -> $6.2, stagnate at $6, up to high $6 range after another big buy, coast to $7.2, then up to $8 after going past $7.2.
Such a large move has happened before. It is possible.
But what if we get a quadruple ramp?  To infinity and beyond! |
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6.03
5.85
6.30
6.80
6.65
The famous JRO 5-price prediction is back! Last time, he predicted an entire two weeks of prices, perfectly. Like fuck, hes right 1 outta 10 times.. His "predictions" are on bitcoinbullbear.. |
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half the moves people make dont translate to mtgox..
It absorbs movement.
Then someone makes a big play on it, and then stopped by the starfish..
Its stupid.. its hindering normal movement up.
And does almost nothing to hinder movement down.
Awesome model..
Bitcoinica prevented bubble 2.0. Operative word... Delaying And making movements a wash internally.. If they were all on mtgox, this would be much better.. Like hell.. all its doing is preventing the inevitable... well then it's not preventing anything is it? |
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half the moves people make dont translate to mtgox..
It absorbs movement.
Then someone makes a big play on it, and then stopped by the starfish..
Its stupid.. its hindering normal movement up.
And does almost nothing to hinder movement down.
Awesome model..
Bitcoinica prevented bubble 2.0. Like hell.. all its doing is preventing the inevitable... |
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Well as long as bitcoinica doesn't trade on the real market their is no way it can influence it. It is a closed of system and the price is only based on the mtgox price.
If I sell 100BTC at bitcoinica at a leverage of 10. This will change noting at the value of the price on bitcoinica because it takes it prices of mtgox and these prices didn't change.
At the end it doesn't matter what happens to my money on bitcionica. It's a closed of system.
Well yes, it acts like a closed system.. But it isnt totally.. there is a lot of "Wash" internally on bitcoinica.. And its just reactionary to mtgox.. soo.. Its just stifling the money |
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In other words, if all these plays were just people on mtgox, and their own money..
We would have had a serious movement up weeks ago...
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half the moves people make dont translate to mtgox..
It absorbs movement.
Then someone makes a big play on it, and then stopped by the starfish..
Its stupid.. its hindering normal movement up.
And does almost nothing to hinder movement down.
Awesome model..
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Only problem is bitcoinica is tying up money witch would be spent on mtgox otherwise. Only money on the real market can influence the price imo.
BINGO!!!!!!!! not so bingo when you have leverage Bitcoinica's leverage is a joke.. plain and simple |
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Only problem is bitcoinica is tying up money witch would be spent on mtgox otherwise. Only money on the real market can influence the price imo.
BINGO!!!!!!!! |
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I see this all the time now...
the starfish is back! yippie!
I notice it move only as much as the leverage available, then the star comes up.. and movements are stopped..
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:O
Love it.. love the full depth charts..
just needs a little colour, awesome start!
Will be using this..
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How about you guys fix mtgox live, so that more than a bus load of people can use it at the same time and does not crash at the "perfect" time...?
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As another non-contributor, I've watched the forums here since the first slashdotting way, way, way back. Gavin's integrity, openness and the amount of effort he has poured into Bitcoin has been massive. Gavin's conduct has always been about seeing Bitcoin become more successful, and safer. I remember when encrypted wallets got rolled out, BIG end user change. It took forever and affected everyone, Gavin rolled out the change when he was satisfied it was safe. This is a man I can trust with my wallet, so I trust his judgment with changes to the Bitcoin protocol. I watched the video also. I support Gavin, for what it's worth.
GAVIN FTW!!!!!!!!!! |
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Get ready for the dump in the next 24 hours.  Quite the opposite... Ie: Wed. what makes you say that? Shhhhh, they will hear us... dont spook the groundhog manipulator.. |
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Little bit of a dust up going on right now.
Theres not such thing as a manipulator.. herp.. derp.. |
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