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Now that we're back in sync, no we go up? Jusdging by a BTC666.66 buy order on whoboi @ 3523.93 dragon might just not be done
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We're finally back to normal $10 range spread between Asia and west, this one was overdue, $60 spread was crazy
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http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise. KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust. As soon as that happened they let the price go up to a new level ... where they think they can manage it. These shennanigans have released some important information into the market, givn some of the game away so-to-speak. Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate. Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960. BTC price doesn't depend on the production cost. Market sets the price at which one is willing to purchase BTC not miners at which they're willing to sell BTC. Market couldn't care less how much in electricity it took to produce 1BTC, simple supply and demand, where supply is fixed |
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what the hell caused the climb out of the 400's? i'm so out of touch it's ridiculous...
Demand was greater than supply. And supply is about to get cut in half  |
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This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.
Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here If they really and strictly are letting users trade between each other to set the rate then I'm not following them. If you trade BTC/EUR and BTC/USD then you effectively trade EUR/USD as well. Why would you deliberately introduce EUR/USD if you're not tempted to take advantage of some arbitrage 'opportunity'? With the opportunity, however, comes the risk especially if you don't know what is the EUR/USD exchange rate. I believe they process SWIFT deposits in EUR faster and cheaper than wires in USD, and there seem to be a disconnect between BTC/EUR and BTC/USD pairs. You're right it's effectively USD/BTC BTC/EUR conversion just cuts out one step and exchange fees for arbs to be more effective. btc-e had eur/usd pair for a while now |
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This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.
Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here |
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Wow... Bitcoin haters troll fest. What a bunch of losers panicking because of bitcoin appreciation?
Yeah over half of the comments is from ignored users the quoting quote of ignored users is too damned high.  I'm surprised my ignore list hasn't crashed the BCT server yet First they took away the glowing ignore indicator, then they took away the noob jail, what's next taking the captcha out at at registration |
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Wow... Bitcoin haters troll fest. What a bunch of losers panicking because of bitcoin appreciation?
Yeah over half of the comments is from ignored users |
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Look how time flies, down $10 since that was posted.
 LOL yes only if they were trolls would be even funnier |
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Bearstamp bot has totally rekt their trading engine ... price jumping between 456 and 522 lol!Q!!
get out of there, looks busted
I don't believe that stamp is manipulating the market by selling tons of coins that they don't have. Their daily volume is into BTC10k (finex is BTC50k) it's just a shadow of itself, low volume so not many people keep $ on it, and it's much easier to transfer BTC in there for sale then get $ in |
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OMG Huobi $589, the west $530, still a big gab but im delighted I'm looking at Bitstamp 521 BTC-e 501.7 Bitfinex 532.09 Huobi 589.87 ...which means we have spreads like 6% between btc-e and finex, 11% between finex and huobi, and 17% between huobi and btc-e. If anything, these spreads show how broken legacy banking is and the difficulties of global mobility of funds between countries and markets, in terms of feasibility and speed. Bitcoin is simply light years ahead of problematic and slow legacy banking and it shows in how legacy banking is creating arbitrage opportunities with vast spreads in the (much-faster-moving) btc market. BTC trading in particular seems to be the "vehicle" of exposing legacy banking for its inadequacies... Indeed the 17% spread is very bothersome. Either China is so hot they're buying everything in sight with no regards to other markets and arbs ran out of funds on western exchanges, or there's an outflow of capital from China and they're cashing out on western exchanges. Or maybe a bit of both |
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Ask sides look anorexic. The dragon ate everything in sight now over $60 spread between asia and stamp/coinbase
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And whoboi breaks $550when stamp touches $500 that's a 10% spread  |
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Trolls are back...Check
Nazi posts...Check
Initiating stage 2?
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Where da friggin rocket pics at ?
Rocket and it's happening pics have officially been banned till we cross $1k I agree with both the assertion that celebration should be postponed until over 1000 and also with your signature about decentralization , that thing which ensures the survival of bitcoin , should not be sacrificed in the pursuit of adoption' fucking let them eat cake It's funny how most people don't realize that about BTC. That advantage is too easy to loose and it's amazing that we got so far, yet too many are willing to sacrifice it for the latest and greatest or for a quick advantage to make a quick buck. We should be VERY conservative in regards to BTC technology not to loose the very thing that makes bitcoin bitcoin, and use the test bed (aka alts) to test new ideas for few years if it works, gradually merge into BTC |
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$32 spread between finex and whoboi arbs can't keep up with the dragon? He's swallowing everything in sight
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Where da friggin rocket pics at ?
Rocket and it's happening pics have officially been banned till we cross $1k |
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And according to wisdom's FX rate Whoboi just broke $500 Half way to the second $1k party? |
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hmmm, maybe that HK hedge fund rumour wasn't just another bunch of total BS?
What rumor? Got a link? |
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Dragon is still hungry |
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