Funny thing about btc-e is that in last 3 weeks there are more buying than selling. I've checked my implementation of their api and it looks good (as you can see on spike at sept 23 there's still more buy so it's not inverted). Bad thing they are not proviing historical api. Maybe there's just some bull, but they follow the price (but then price should be higher, not always lower) Here's for comparsion: - bitfinex https://i.imgur.com/WblU6k9.png balance - 30k sold - huobi https://i.imgur.com/7NdLCgP.png balance - 41k sold Very nice chart to visualise the BID/ASK volume! I think we may be seeing arbitrage causing the higher bid volume. And also seeing that not only big dumps are happening, but probably lots of market sells, and mainly only limit bids. The overall downward price trend, it appears counter intuitive, but I think it may be caused by the bots on BTC-E, bots are mainly moved by market orders, limit orders they just sit next to.
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As we all know: any trade on any exchange "manipulates" the whole market to some extent.
Given the task of lowering the market price of bitcoin as much as one could using a finite (and fairly modest) bankroll one might:
Find the exchange with highest percentage of bots (bots offer no support, they slide around, not favoring fiat or coin).
Hit is with large market sells followed by distributed moving limit bids to recover costs without fostering too much rise.
Anyone doing this would also be able to preempt and position themselves for the arbitrage opportunities that would follow and recoup some of the costs, and maybe even make a profit if they could take advantage of inertia/elasticity of inter exchange rate ripples they caused.
Using such a scheme one could apply constant pressure to the price, you would know you had reached your limit when your bankroll went down and the price no longer did, which would happen at the "real" support level when real humans started placing market buys.
Anyone preparing to buy ALOT of coin would have the motive to do this (I would expect it to be done).
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They want the price to drop so they can get BTC cheaper.
^^^ THIS ^^^
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Intersting read, and I agree with the whole "bitcoin resting on it's laurels" thing.
RE: crypto-fiat:
Isn't the market capital that you can safely store/transact in a blockchain only proportional to the power (difficulty) of the overall network?
How would a crypto-fiat survive? If any serious capital existed in it then it would make financial (if not ethical) sense to brute force hack the blockchain.
We all know fiat scheme operators like to run their games with minimal overheads, I can't see them investing in or evolving the network hardware too much.
Even if you couldn't extract any capital out of the system (due to traceability issues) it would still be a target for a competing government on the global stage.
I think a premined coin can never hold alot of capital for this reason.
But having said that: I can see SHA256 miners getting lured onto a fractional reserve blockchain for "perks". And agree with your general sentiment.
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No "magic" can be done, it's all hogwash! Why not launch an alt that uses POM (proof of magic) you'll find that you would be the only one to imagine it being mined
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so what is power comsumption for ""800 GHs 2HEX4M enclosed miner""? 464W?
I doubt you'll get 800GH/s and 464W together using minions. 464W will be in an underclocked state in "economy mode". P.S. I would also be interested to hear the lowest W/(GH/s) and the hashrate at that setting. Look at this chart: https://bitcointalk.org/index.php?topic=707386.msg8082173#msg8082173Just multiply it by 2 so the best efficiency one can expect is ~ 0.8 W/GH/s at ~ 400 GH/s
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so what is power comsumption for ""800 GHs 2HEX4M enclosed miner""? 464W?
I doubt you'll get 800GH/s and 464W together using minions. 464W will be in an underclocked state in "economy mode". P.S. I would also be interested to hear the lowest W/(GH/s) and the hashrate at that setting.
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We'll probably acceleration in difficulty during northern hemisphere winter as miners turn on old rigs for discounted heating bills.
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I'm running at 1024mhz and 820mv with no issues.
Are you covering your electricity costs?
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...As for technical difficulties, go for it, I DARE ya, big mouth. Show the world you can cause problems for me.. you'll need your fuckin paedo squad just for a ddos.. since virgin block everything else nowaday's..
Your just another DICK.
Only you will realise, the world will not notice as you are insignificant.
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guy. watch your mouth. I did not steal it, and modify your raw version. it has already been agreed and you will accept the results. or it hurts your feelings of self-importance? then why is your option gaining 20 votes more than a week, and my 50 votes, for 1.5 days? =) this is true is absurd I'm sorry I don't want to mind other people's business but this is ridiculous. It's a complete ripoff and you can see that the original author does not approve your initiative. You only changed the colour to blue. Maybe if you would've ask him "hey have you tried blue?" instead of doing the same logo in blue and trying to take credit for it. I can't believe what people are willing to do for a few BTC, it's blowing my mind everyday. My sentiments also!
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Looks like we'll be testing April's low of $339. If we brake below that, then the next $ amount I'd look out for is the high of ~$270 from April 2013. The fact we weren't able to stay up after last weeks paypal news just reconfirms the bear market.
This exactly. The huge news from paypal meant nothing. There has to be a fundamental change for this trend to reverse itself. The winklevoss etf is the only thing I can see that would do it. I'm not so sure... BTC price can be easily manipulated with good leverage using only a relatively modest bank. If some investor wanted to buy alot of coin then placing substantial market asks and limit bids will lower the price, this is aided by bots behavior in such conditions, bots are selfish and fickle and can be slid around as if on a greasy skillet. Bitcoin market has a high population of bots. Of course this doesn't come for free, but the point is that the whole market capital value can be adjusted by X$ and it will only cost Y$ to do it, where Y is ALOT less than X. If someone is considering buying a massive amount of coin then it would make mathematical sense to do this. So if somebody has a good bankroll (modest in corporate terms) and is also privy to knowledge of bitcoins impending rise in popularity ( inside info ) then this drive down before starting to buy is par for the course, it happens often with other securities. I will add that I am only rambling on
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here on Linux: could not create access file . . . cortex7 will quit... Hello,
Just downloaded the client and set up my Cortex7 account with api key and secret generated at BTC-e, but when I open the workspace an error message pops up telling me it can't access my account data on the exchange. In my BTC-e account for the api keys, I have checked the boxes for 'info' and 'trade' as well. Any ideas?
thanks
Do you have read/write privileges for the file location specified in the popup box? If not then can you arrange your linux account such that you do?
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The rest of the bounty has been sent by the others, you should have the 6k now. Can you confirm?
confirmed, 6000.90 to be exact
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OK, my VvXx address is:
VU6owpWUsMen4CdyYMeiJBt9n1pLvHBc6o
My part for the bounty (2500) has been sent. Tell me once you get it please. Received 2500 OK, many thanks Francecrypto.
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OK, my VvXx address is:
VU6owpWUsMen4CdyYMeiJBt9n1pLvHBc6o
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I do think that we will start to see commercials that incorporate BTC or that they accept BTC...but they will be specific companies, like Overstock, etc.
Yes, I think first we will see "BTC accepted" in an ad. Maybe later some bitcoin payment providers may advertise with a more bitcoin centric ad.
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