23% selling coins.. hm..
looks like BITCOIN will be at around 10$ soon^^
IM pretty sure the vast majority of bitcoins are not on the market today, instead they are being hoarded. Its the reason bitcoin is above $0.1. Speaking for myself, I have no intention of selling in the next year or two, regardless of price. If it goes to $100 or back to $0.1, no matter. I will use my bitcoins now and then, and then just replenish my stock. I suspect a lot of people are like me. +1 despite the fact that you ragged me hard for being a hoarder as well. but miscreanity is right, the stock and flow model is valid. i see Bitcoin as a tremendous store of value but hopefully a currency for major commerce. one day. |
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By the way, in my opinion what he did should be called market manipulation and is criminal.
I though Zhou did a pretty good job with Bitcoinica, up until that point. I don't think I'll ever use it after that. Not that there was a high chance I would have used it anyway. Someone in his position should not be saying some of the things that were said, whether it was obvious to the market or not. I apologize for the words that shouldn't come from the mouth of a broker. I was too angry (or maybe excited) dealing with the flood of non-sense and unreasonable arguments. Really, it was beyond my logical control. Please do not take it as a market recommendation. I just wanted to tell everyone that I was not going to take advantage of the possibility, and anyone who did would be out of my responsibility. you know what? i'm tired of being nice to you just b/c you're a 17 yo kid. f*ck you prick! i've rooted out several valid problems with the way Bitcoinica functions. while i had to do some catching up with exactly how your service works b/c its so opaque, it turns out that most of my suspicions are real. and i would posit that NO ONE around here knew that your service could freeze up like this and prevent shorts and longs from covering or buying due to a red flag event. too bad your short clients will have to be liquidated. its either you or them who will take losses Zhou. who will you choose? the fact that you're constantly having to "revise" your algorithm is testament to this. the fact that i was able to jam your algorithm as up to 4.95 10d ago is fact, not fiction. you need to keep your mouth shut. Calm down. The spread algorithm has already been fixed, and behaved perfectly during this rally. Also the prevention of people being able to liquidate has also already been fixed. And Zhoutong already said he would take the risk of the people unable to liquidate. I'm not sure how he could have possibly responded better to these problems? It's good, no great, you're bringing up (potential) problems, but there's no need to become disrespectful here. this is the first time i've lost my temper with him. if you go back thru the threads, i've tolerated alot of disrespectful comments from him. True, and I agree with you there. But no need to become disrespectful towards him just because he has been disrespectful towards you. This forum would become a mess if everyone responded like that. you're right. |
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By the way, in my opinion what he did should be called market manipulation and is criminal.
I though Zhou did a pretty good job with Bitcoinica, up until that point. I don't think I'll ever use it after that. Not that there was a high chance I would have used it anyway. Someone in his position should not be saying some of the things that were said, whether it was obvious to the market or not. I apologize for the words that shouldn't come from the mouth of a broker. I was too angry (or maybe excited) dealing with the flood of non-sense and unreasonable arguments. Really, it was beyond my logical control. Please do not take it as a market recommendation. I just wanted to tell everyone that I was not going to take advantage of the possibility, and anyone who did would be out of my responsibility. you know what? i'm tired of being nice to you just b/c you're a 17 yo kid. f*ck you prick! i've rooted out several valid problems with the way Bitcoinica functions. while i had to do some catching up with exactly how your service works b/c its so opaque, it turns out that most of my suspicions are real. and i would posit that NO ONE around here knew that your service could freeze up like this and prevent shorts and longs from covering or buying due to a red flag event. too bad your short clients will have to be liquidated. its either you or them who will take losses Zhou. who will you choose? the fact that you're constantly having to "revise" your algorithm is testament to this. the fact that i was able to jam your algorithm as up to 4.95 10d ago is fact, not fiction. you need to keep your mouth shut. Calm down. The spread algorithm has already been fixed, and behaved perfectly during this rally. Also the prevention of people being able to liquidate has also already been fixed. And Zhoutong already said he would take the risk of the people unable to liquidate. I'm not sure how he could have possibly responded better to these problems? It's good, no great, you're bringing up (potential) problems, but there's no need to become disrespectful here. this is the first time i've lost my temper with him. if you go back thru the threads, i've tolerated alot of disrespectful comments from him. |
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plz explain ... now 11mins... i see no restriction on the sell side why so long to execute....  i thought it was supposed to be 4 sec? |
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Hey, this looks cool. Looks like Mtgoxlive has a serious competitor.  Nice interface! The mouse wheel trick is neat, too. i use a MagicPad  what does it do? |
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ElectricMucus has unfortunately been away ("RIP Bitcoin") but his posts still speak. As I recall, he was a huge bear. Even he says there is a possible market reversal  Revised Nagle™ Chart  We broke through the short term accelerating downtrend and are about to challenge the overall downtrend. It's a 45 period exponential, added a 90 version to indicate possible market reversal. RIP ElectricMucus. the bad thing about him and several of the other bears, was that he was volatile and quite disrespectful as well. |
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In that case, with perfect execution you will profit 30 cents per BTC times 100BTC, which will net you 30$. The USD required to create such a spike is _far_ more and it is far too risky to try and profit 30$. It would only be possible if the depth was very shallow, weren't it for the fact in that case the spread is a lot bigger to compensate for the shallowness of the orderbook.
the numbers were made up. my pt was to demonstrate that just b/c you delay the customers buy order by 4 sec doesn't solve the slippage problem as a motivated attacker with a decent size acct at both places could still game the system knowing that the 4 sec rule was in place. That's what the 50BTC blocks are for. You aren't going to turn in that profit over more than 2-3 perhaps 4 blocks. The profits will pale in comparison to the funds needed to create that spike in the first place. not in an uptrending market like this. |
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In that case, with perfect execution you will profit 30 cents per BTC times 100BTC, which will net you 30$. The USD required to create such a spike is _far_ more and it is far too risky to try and profit 30$. It would only be possible if the depth was very shallow, weren't it for the fact in that case the spread is a lot bigger to compensate for the shallowness of the orderbook.
the numbers were made up. my pt was to demonstrate that just b/c you delay the customers buy order by 4 sec doesn't solve the slippage problem as a motivated attacker with a decent size acct at both places could still game the system knowing that the 4 sec rule was in place. |
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By the way, in my opinion what he did should be called market manipulation and is criminal.
I though Zhou did a pretty good job with Bitcoinica, up until that point. I don't think I'll ever use it after that. Not that there was a high chance I would have used it anyway. Someone in his position should not be saying some of the things that were said, whether it was obvious to the market or not. I apologize for the words that shouldn't come from the mouth of a broker. I was too angry (or maybe excited) dealing with the flood of non-sense and unreasonable arguments. Really, it was beyond my logical control. Please do not take it as a market recommendation. I just wanted to tell everyone that I was not going to take advantage of the possibility, and anyone who did would be out of my responsibility. you know what? i'm tired of being nice to you just b/c you're a 17 yo kid. f*ck you prick! i've rooted out several valid problems with the way Bitcoinica functions. while i had to do some catching up with exactly how your service works b/c its so opaque, it turns out that most of my suspicions are real. and i would posit that NO ONE around here knew that your service could freeze up like this and prevent shorts and longs from covering or buying due to a red flag event. too bad your short clients will have to be liquidated. its either you or them who will take losses Zhou. who will you choose? the fact that you're constantly having to "revise" your algorithm is testament to this. the fact that i was able to jam your algorithm as up to 4.95 10d ago is fact, not fiction. you need to keep your mouth shut. |
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Just woke up, and I totally called this rally from last night. You bears just got pwned!!!
Well, I just came back from a NYE party (same time zone as MtGox) and was really suprised to see the spike to $4.99. Now, for the person who called it.... Was it blind luck? Intuition? Chart reading voodoo? Or insider info about someone who wanted to buy bitcoins in a hurry? I'm sure this forum would love to know. we needed you to leave the premises first before we got things going  |
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proudhon, i see your avatar has changed.. everything else fine? greets Yep. All in all things are going well. I am, as you can imagine, surprised by the movement today. Sold a little during the past few days, so that's sort of a bummer, but I'm content to wait it out. I don't think buying back in now is the right move. look at the big picture: up, down, up. all long periods of time. |
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The divergence is back to being huge again:  @old_engineer: I don't think the money was necessarily new, it could have just as easily come have come from off the order books on mtgox, or from bitcoinica. There is no way to know for sure if it is new money or not. @Blitzboom: I don't know about you, but I know that I am making a decent income from my bitcoin business. thats actually great news. congratulations. |
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au contraire. most of the large geek holders of btc already coughed up all their btc on the way down not understanding the fundamental dynamics of what they had created. these have now moved into more strategic non techie investors who will not be shaken out of their positions easily on the way up.
Hehe. You're hoping for a bubble, aren't you? Keep hoping... Non techie investors. Love it. Who else but a geek would involve themselves with bitcoin, even now? Even many of us 'smart' folk still are failing to understand what we have created, so what hope is there for the meatheads? It's the same people with the same money and the same coins (plus some new ones that have yet to hit the markets). In the day, I'm a financial professional working in a very conservative asset management company. In the night, I'm buying bitcoin. I'm not geeky. Do you know of any other financial professionals messing around in the bitcoin market? i see you haven't been paying attention. |
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So, what is the logic behind suddenly forcing the price up from $4.25 to $4.99 in an instant? I can't think of one, except forced buying through Bitcoinica or someone playing the thin market (New Year's Eve and all). I can't think of a real reason why someone would want a whole lot of bitcoins suddenly for a real world use.
for Bears, the logic will never be there. |
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Just woke up, and I totally called this rally from last night. You bears just got pwned!!!
LOLOLOLOLOLOLOLOLOLOL! i woke up last nite at 4am just before the rally got going. somehow i have a knack for that. as it was unfolding, i told everyone that you'd be lighting the place on fire when you woke up! NICE CALL! |
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hey Zhou, how's that recommendation to sell working out for your clients?
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Nice selloff! Strong resistance here.
We'll see. Some oscillation is to be expected. I'm happy with anything over 4.2 as the next stable price. there you go. I wonder what the price will do when America wakes up  Edit: Wait no that makes no sense. Isn't America awake by now? Or do you all sleep till noon? hey, i'm up. it was only 4am when i woke up just before the price took off. |
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Wow, tempted to take the contrarian position to this incredibly bullish sentiment.
i'm not surprised. the Bull will shake alot of ppl off before this thing is over. |
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Call me when bitcoin reach 30 again  As others have pointed out, getting to those numbers is going to be much, much more difficult than before. There's going to be more selling pressure on the way up in addition to there being more standing orders on the order book this time around. It'd take ~$2,000,000 to move the price that high right now. In reality it's going to take several times that amount as people actively sell. I think it’ll be easier as Bitcoin now has a wider reach and proven that it will stay. The peak volume we had at the top was ridiculous, so it won’t be too hard to surpass that. I’m expecting people to get euphoric and withdraw/put their asks much higher at some point. yes, as usual Proudhon has it backwards. i never sold as we tanked. in fact, i accumulated more. and i certainly will NOT sell on the way back up to 32 as i'm expecting it to go way beyond that to at least gold parity. the gold bubble is over and all that money is going to come here. |
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And to answer my own question: I think we might be seeing a REAL bubble if this happens, not just with geek lunch money.
Like a real tangy chewing gum version? the real sticky kind. |
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