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Boy the sharks on BFX must be having a party
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weeeeeee  |
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China has to keep buying RIGHT NOW otherwise it looks bad for the charts.  |
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Those shorters may have a very hard time if Houbi breaks 2800CNY.
for the record: broken at around 10:00 UTC on 10k volume. There's nothing significant about 2800. Breaking 3200 would be significant. How ugly does it get if it doesn't break today? Maybe we end up just going to flatline for a while until reversal is confirmed.  The Chinese are still pumping 'tho, so it might as well happen... |
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 Or maybe this one, but this would mean we aren't even rallying right now. E-fucking-xactly. So in case we get over 500 today then the old trend line is broken, correct? |
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Hey octaft, so you do implicate that all people are "mentally" equal? I think all people here are equally mental Cheers |
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AFAICTFGTO(*), OKCoin's "recharge codes" allow users to buy CNY from other users.
UserA has CNY in his OKCoin account. UserB ran out of CNY in his OKCoin account, has CNY in hand but cannot deposit it because the bank routes are blocked (assuming that they will be at some point). So userB gives CNY to userA in some way (without involving OKCoin and their bank accounts), and userA transfers the same amount minus fees+profit from his OKCoin account to userB's OKCoin account.
If that is correct, this system may convince clients to keep their money in their OKCoin account even after withdrawals are blocked. Clients like userA could make lots of money from those external "fees". Presumably they will find ways to get CNY in or out of OKCoin without going through the bank accounts.
Perhaps UserA can be OKCoin's CEO, or his cat...
(*) As Far As I Can Tell From Google Translate's Output.
Gox and Stamp used to do that in 2012. They stopped it (or were made to stop it?) because it is easy money laundering. |
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This looks to me like the $710 whale pattern all over again. If this train leaves without me, fine. I got coins in cold storage.
Except there is no whale this time. It's just China-following. Western bitcoiners discovering who actually owns the west.  |
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Everyone stopped their bots, and the order book is shallow as fuck. That tells ya what the real depth is...
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One thing is announcing the ATMs, one thing is having the ATMs installed and ready to run. Which in China could be as fast as 10 days, knowing the amount of people they employ. In the meanwhile the fiat buying now is fiat that was waiting on the sidelines. Will it break 440? Interesting times indeed.
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You don't do a 2.5k buy order on all exchanges (5k on Huobi) at the same time. Something happened.
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Meh. A single whale made one market buy.
Rpietila, was that you?
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Thanks. I think that the crossover from last weeks has to be ignored. I think it was either due to one exchange doing an audit or stolen Goxcoins on the move. The 7-day averaging I chose when I pulled the data from blockchain.info makes the spike look larger than the actual few data points that caused it, where we had almost one million bitcoins moving in a day. |
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To clarify: transaction volume = total amount BTC transfered on-chain (per day?) times USD per BTC at time of transfer. Yes?
Yes. I am using data from blockchain.info because they use "an algorithm which attempts to remove change from the total value". Also, for 'expected price', do you use the all-time average calculated at the end of the series? Or a moving average?
Yes, I use the all time average for the ratio USD TV/price. Empirically I could see that a moving average over 1 month or more for it does not diverge much from a flat line of ~200000 except for the last few months where it gets closer to 100000, making me think that either the model diverges because of more hoarding in the last months or the model is correct and we still are overpriced. There's already one (relatively crude) observation I could add after I see that I understood your model correctly.
I'm all ears |
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Most dumps so far have been single megadumps in an otherwise stagnating market... I believe I can hear the sound of a hundredaire's or a thousandaire's head exploding with every dump.
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I think with NYFDS issuing the final regulatory guidelines for exchanges in New York by the end of Q2, I believe the start of Q3 will be a new all time high.
This gloom and doom will blow away then, or as soon as NYFDS releases the guidelines. Thats when Circle, SecondMarket, Coinsetter, Buttercoin will probably launch.
+1 that I agree with. In our hearts we are all permabulls (and maybe that is the problem). |
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Imma go out there on a really thin limb and say bear trap
I say the bounce is going to be a bull trap. |
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Chinese hitting DDOSing the western exchanges, they dont want them to lead the dump again.  Lol! In that post about Huobi on bitcoinblog.de, the Chinese author wrote something about the Chinese bitcoiners being annoyed with western FUD. So you think I am spreading FUD when I am saying that it is probably some Chinese network DDOSing the exchanges? I have ran a pool for some altcoins and the amount of Chinese botnets is simply incredible. I don't recall saying that. Actually I see it as a possibility. You interpret my words, guess what I am thinking and get angry with me. Are you a woman? <3  I am in no way angry with you, I was just asking if you consider my post as being fud, getting angry over posts on a forum would be the stupidest thing to do imo. "I am in no way angry with you, I was just asking" that's what my girlfriend says when she's pissed off. Sorry, just messing, I am bored and feeling a little stupid. |
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