I'm always puzzled by the way that Huobi trades. It's always two large orders suddenly appear on both sides of the book and get 1 yuan away from each other to create this tiny tiny spread and then they trade with eachother somehow.
Someone told me (Maybe Aminorex?) that this happens frequently in the USD market. It looks strange though. You would think that sellers would attempt to get buyers to pay more and move their wall up. It seems to me like sellers are trying to keep the prices down (which of course is not in their interest). in general the market wants to find THE value and stay there, problem is bitcoin is always growing... so every once in a while we have a "bubble" and then bitcoins looking for its value again, we always overshoot on the up side and the down side, and bitcoin keeps growing... this is why all the volatility. I see bitcoin calming down and staying steady onces its completely taken over all monetary transactions, because i think in 100 years or so that what will happen bitcoin 4.2.9 will be running and my transactions from 2011- 2150 will be forever recorded on the blockhchain 100 years? The protocol will surely be broken by then unless there are major code changes to update the wallet encryption algorithm, etc. I would be suprised if it even lasts 20 years. say the protocol is broken tomrrow you think they wont patch it move on, and bitcoin will climb back like the phoenix?? ya i'm a buyer "when the protocol breaks" !! Let's say that one day EC is suddenly revealed to be broken. Hackers have already been moving coins around and now everyone's private keys are suddenly public knowledge. Everyone's coins now belong to everyone else and there is no way to distinguish between owners. How could you possibly fix this with a patch? You'd have to release a new blockchain with the same balances and everyone having a new private key. Even if you could pull that off, how would you know who the owners were and how to contact them with their new private keys? |
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I'm always puzzled by the way that Huobi trades. It's always two large orders suddenly appear on both sides of the book and get 1 yuan away from each other to create this tiny tiny spread and then they trade with eachother somehow.
Someone told me (Maybe Aminorex?) that this happens frequently in the USD market. It looks strange though. You would think that sellers would attempt to get buyers to pay more and move their wall up. It seems to me like sellers are trying to keep the prices down (which of course is not in their interest). in general the market wants to find THE value and stay there, problem is bitcoin is always growing... so every once in a while we have a "bubble" and then bitcoins looking for its value again, we always overshoot on the up side and the down side, and bitcoin keeps growing... this is why all the volatility. I see bitcoin calming down and staying steady onces its completely taken over all monetary transactions, because i think in 100 years or so that what will happen bitcoin 4.2.9 will be running and my transactions from 2011- 2150 will be forever recorded on the blockhchain 100 years? The protocol will surely be broken by then unless there are major code changes to update the wallet encryption algorithm, etc. I would be suprised if it even lasts 20 years. |
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Quite amazing how Tera nows exactly what will happen in the next 2 years.
...but not more crazy compared to people who (constantly) claim that we are only a few days away from going to the moon  I think TERA is basing her prediction based on at the past where there has been long periods with less activity (in between bubbles). "exactly what will happen"? I couldn't have been more vague about what is going to happen. |
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I'm always puzzled by the way that Huobi trades. It's always two large orders suddenly appear on both sides of the book and get 1 yuan away from each other to create this tiny tiny spread and then they trade with eachother somehow.
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Never. China doesn't say "bitcoin is doomed". China says that there shouldn't be any financial-institution-type bitcoin exchange service for its citizens and that it should only be traded privately like collectibles.
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It all depends on how much time it takes to decline. Theoretically it could either drop immediately to $120 or go sideways for a year at $400.
I don't know which will happen. All I know is that the next 1-2 years is not going to be productive for traders.
Calling the next 1-2 years is very bold and more than slightly ludicrous. All I'm saying is that it is unproductive for traders. The movements will be slow and there will be a low volume and volatility most of the time. We won't see explosive 400-800% up movements or 50-80% down movements like we have in the past year. It is a consolidation and slow recovery phase. I'm not giving any specific price targets. |
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It all depends on how much time it takes to decline. Theoretically it could either drop immediately to $120 or go sideways for a year at $400.
I don't know which will happen. All I know is that the next 1-2 years is not going to be productive for traders.
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Same line on larger time scale:  :-) just interesting  I have been following the lines you posted for the past 5 months expecting a reversal there but now it is clear that is BROKEN by looking at the weekly chart and the declining volume. Now where is the NEXT support? |
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I told you few days ago, that bitstamp is going to be closed due to some illegal activities. That wasnt just a rumor;)
Please, enlighten us. as far as my sources teold me. Bitstamp is involved is some illegal activity, presumably some paedophile groups use bitstamp to exchange money. That is why bitstamp is going to be closed for investigation etc next week or so. If (or really, WHEN) it turns untrue, I hope someone here will remind me to have this guy banned. that is almost like a bet. It needs a timeline.. maybe one or two weeks (or NO later than the end of the month), if the closing of stamp does NOT happen, then Chromosoma = banned... he definitely has been spreading a lot of NON-substantive bitcoin is dead FUD>>>>> that's for sure. For all you know he could have been told a lie from someone else and truly believed it. I wonder why you have this seeming burning desire to defend FUD spreaders. Chromosoma seems to have developed a FUD spreading pattern of behavior. Further, when a poster is making outrageous and difficult to believe claims, s/he should have some kind of affirmative obligation to provide some sources for that claim.. . or at least some logic concerning why the claim is plausible.. .. IN this case, Chromosoma is NOT only claiming plausible, but s/he is claiming high likelihood bordering on certainty that Stamp will be closing.... Probably, we are giving him/her too much credibility and airtime by merely discussing such baloney assertions. why do you call Chinese situation FUD? Chinese situation is facts. it's a reality |
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The B.S. in China is the way the exchanges keep trying to stay open, find these subversive deposit options, and lie to their customers that everything is ok. If they just did the right thing and shut down, then we might be able to get over this more quickly.
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Ta is good at predicting the way things move under opposing forces and analyzing the raw data of supply and demand. I can sit here and try to predict how a fundamental should affect the price, when a fundamental will affect the price, and how much of the price is due to fundamentals, but I will likely be way off, and trading just the price will be much more effective.
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Hmmm, you edited your original post to sound less self-affirming about potential trend-line falsification.
Just as well, short term...flort...ferm...
Most of the time I edit my post about 5 times within 10 minutes of writing it to correct spelling errors or write additional points. I don't edit my posts later in response to a discussion. |
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Tera no offence, I respect the voicing of opinion, but what you just said is absurd. It seems like you're smart enough to understand why, not sure why your brain so furiously tunnel-focuses, but it may be time for a week break away from the computer to stare at the sky and horizon-line.
Unrelated - although not quality TA, but still in-line with the feelings that oft get mentioned, figured for fun, would share mine. It feels, like we will never get below $380 again. Also it feels like once $780 is breached in a couple months, we will see $3k not long after.
So much for feelings. It doesn't matter either way. The trend exists bc the past 5 years have provided the reality as such. Perhaps in another 5 years, we will get a true picture of its relevance, past and present.
Until then, feels good to own bitcoins.
Most of my posts are about short term trading, and take note of the condition I mentioned "if the trend were to continue" - meanwhile I didn't say anything about whether or how long the trend would continue. |
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It's obvious the Bears didn't learn much from the $360 to $540 rally.
Skating on thin ice?
We are much closer to the bottom than the top.
The Bears are skating on thinner ice.
No you're wrong. I did realize something from that rally: a profit! How about you, did you get any of the action or are you still holding on to some coins you bought at $1000? |
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Wouldn't it be ironic if after bitcoin was adopted by MIT, the students studied the code and started writing papers about how it has flaws and is doomed? That would suck.
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Risto's 450 long is being threatened for the final time. No more bounces back to this level if the trend were to continue. Here's a short term chart also.  |
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The next wave will be a recovery wave and not set a new ATH because it is in a new supercycle.
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Do you not know how to read a chart and analyze a trend? When price is close to the downtrend, the market is just looking for any excuse to go down. This is going to persist until there is a significant increase in volume to terminate the trend and there is a powerful spike above the line.
There are analysts left right and centre scrutinising Bitcoin. Some of them are bullish, some of them are bearish. Thus they are looking at the same data and coming to different conclusions. How could that be? So what trend are we looking at here? Trend on 4hr hour chart on correction from bounce since 16th April? If so, then I make the upper reaches of that corrective trend to currently be around $460, and the lower reaches to be $400. We are currently at $450. All the bigger purchases are eating into the Ask wall, not selling into Bid wall. So we are at the upper extremities of the correction trend, buying pressure seems to be having the upper hand. We have had a textbook 60% retrace from the bounce up from the bottom, several indicators are showing signs of recovering from a depressed state, the 1 day MACD is looking as though it ready to cross...... ......what is not to like for the bullish case? I agree with you, Bitcoin for me right now as a long investment is as I said, 'skating on thin ice' (i.e. don't fkn do it). But how could you argue against the long case with these technicals in it's favour? 5 month downtrend with 1W EMA downcross trumps 1-2 week old insignificant up movement. We have seen the fake 1D MACD crosses and almost 1D MACD crosses and 3D MACD crosses before only to serve as a trap before a violent downwards movement. The downtrend is not going to be broken by weakly nudging up against it. It will be broken with volume and a vigorous spike way above it. Yes I agree that the downtrend will eventually give way to long term uptrend but probably not at this level. |
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