 From bitfinex, sentiment blahblahblah  |
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We are waiting for the $32' ers to sell at a loss before we move up. This is also completely consistent with my opinion on my hunch.
shouldn't take long: mtgox=# select count(*) as cnt, sum(volume) as btc, sum(volume*price) as usd from trades where price >= 31.0;
-[ RECORD 1 ]----------------
cnt | 1544
btc | 13714.94400000
usd | 429606.3764527000000000
only 13K BTC were ever traded above $31. EDIT for those interested: mtgox=# select count(*) as cnt, sum(volume) as btc, sum(volume*price) as usd from trades where price >= 29.80;
-[ RECORD 1 ]-----------------
cnt | 5090
btc | 55666.28300000
usd | 1702948.0715991000000000
56K BTC have changed hands for a price above $29.80 (on mtGox). A bit off-topic, could you tell me the name of the shell you are using? Thanks. |
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The $20 wall survived longer if you could remember.
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doesnt adam lose the bet now  No, the 2011 top was $31.9. |
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It did look like the previous walls were pulled on the way up, but this one is staying. That's kind of an ice cool way of selling 10-15K:
If the buyers start eating into your wall at 29.50 move it up to 30. If they get tired of chewing on your wall, make it a little smaler and support it with a buy wall. It's a bear trap used for selling?
Looks more like a bull trap. Is there such a thing as a bull trap? I just thought they got a bolt pistol to the head when they were done? Those aren't living that long, not this one. I posted a picture of our bull above, he's bleeding and waiting for the matador to put him out of the misery. It's a cruel sport. For sake of the show we have to wait for his arrival and besides divine intervention or alien abduction he always comes. Get some roses. Bullish or bearish, why would anyone still hold faith in walls is beyond me. A big player is not going to be so nice that he sends everyone a warning before he dumps, or dumps at a spot that lots of people have anticipated, otherwise anyone could call the top. When the dump comes, it's always going to be sudden, massive, and completely unexpected, so as to maximize the panic factor. And no, every market crash is at least initiated by a/several big players. |
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It's so quiet --- before the storm  All Mega users opening new accounts by MtGox... transferring money...  Is there strong demand for mega accounts? I would if I owned as much as pirated films as my Chinese buddies, there is simply no domestic website offering so much storage space yet, let alone encryption. |
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According to Bitcoin monitor, more dumps maybe coming our way.
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all I'm saying is if someone bought 50K bitcoin at 5 - 10 he'd be stupid not to be selling it off at $16/$25 or whatever price I sold, and should realize that he MUST do it slowly without putting to much selling pressure on the market....
FTFY |
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15314 BTC wall, may just be the same old chap.
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I don't know, I sold my entire stash at 29.50. Feeling pretty good about myself right now, and was enjoying watching the price drop during the day. But now it's creeping back up. What do?
why are you here? what kind of attitude is this?  this is what scares me. if you're not a bull, you're liable to be skinned alive these days. this isn't discussion. the bullish sentiment is at obnoxious peaks and yet the price keeps going up... maybe all the new bitcoin users don't frequent the forum. this whole thing feels much worse than the original bubble. Don't be so sensitive, there are a lot of bears around here, hardly any of them suffered unwarranted verbal abuse, let alone skinning alive. In fact, if you were around here last time, you will know that people were a lot more enthusiastic then, which begs the question: most likely only people who are enthusiastic enough about bitcoin would come to post often in this particular speculation board of this particular forum, why would someone who has no faith whatsoever in bitcoin's future waste his time here in the first place? (i.e., at least he should be a long-term bull). Probably a proper response to him is:" Get a life."? |
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I see. Even if you are using a dollar weighted average, with no limit on interest rates, you can create strange situations. Let's look at an example:
$50,000 lent total.
$49500 lent at 60% per year.
$500 lent at 88,888% per year.
Dollar weighted average: 948.28%
So, even a small 1% loan at a high interest rate can modify the average by more than 10x.
if a large portion of that 50 000 are VIR then yes There is possibility for market manipulation here. https://community.bitfinex.com/showthread.php/101-But-what-if-anyone-manipulate-the-VIR-making-a-loan-1000-USD-at-9999-APY check that and why wont work on the long run A silly situation is he can create two accounts and lend to himself, of course there is large fee to pay then but theoretically the gain could still outrun the loss, if properly designed. Another advice is to allow users to set their threshold rate, whether they're opting for VIR or not. |
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On another note, do you have the address of a page where blockchain transactions and executed Gox transactions are displayed simultaneously in some live charts? I have also seen it long ago.
http://www.bitcoinmonitor.com/Gorgeous, exactly what I was looking for, your donation address please? Wanna buy some silver? Or just $$? My $36 auction is still at $5 although it contains silver and coins that would be worth $5 for one $1 coin (Eisenhower $). Pushing this to at least $36 minus shipping would be much appreciated I would love to, but I kinda suck at keeping little things from missing, one of the reasons I use bitcoins is that I could never find all those receipts, so, I would still prefer a donation address  |
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On another note, do you have the address of a page where blockchain transactions and executed Gox transactions are displayed simultaneously in some live charts? I have also seen it long ago.
http://www.bitcoinmonitor.com/Gorgeous, exactly what I was looking for, your donation address please? |
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...
There are also some bears, like Proudhon, preaching the theory that a few people controlling large amount of bitcoins which they bought at very low prices are going to cash out at anytime, in that case I would say let the dump come then, for the general safety of the system, the bitcoins must be distributed as even as possible, so the sooner the dump, the better.
It is happening. After June 2011, this month has had a record day for coins coming out of cold storage onto the market... https://blockchain.info/charts/bitcoin-days-destroyed-min-yearVery good discovery, thanks. But does it have to do with the coins being stored twice as long that the number is so high, yet the amount of coins is not as large as it was in June 2011? Absolutely that would be the case. All this gives is an indication that at least some old coins are changing hands. I think the best way to know how bitcoins are becoming more widely distributed is to extract the top 1000 "richest" addresses every month, and determine the percentage change each time. I am thinking if we can slightly modify the days destroyed metric, e.g. to add weights to coins sitting dormant since before 2011, or using power function of "unspent days" in calculating the metric, on the assumption that bitcoin purchases/mined at later times are more likely to be of small amounts, as the price after the crash was still much higher than it was before the crash even at its lowest point, which limits the possibility of large purchases. Needless to say it excludes the early adopters cashed out at the top and bought back at the bottom, but in that case the volume would be really massive, yet I have not seen such volumes yet. The 7 days average is much more informative here: https://blockchain.info/charts/bitcoin-days-destroyed-min-year?showDataPoints=false&show_header=true&daysAverageString=7×pan=all&scale=0&address=Else there was some chart that's not being continued where you could see from which time frame coin days came that were destroyed but in a very coarse monthly sum up. Don't remember the url … http://statistics.ecdsa.org/ … I had asked Piuk to make something similar and I guess he was intrigued by the idea. Lets see. Hope he does it. Thanks a million, I was just looking for this address, which I forgot to bookmark. On another note, do you have the address of a page where blockchain transactions and executed Gox transactions are displayed simultaneously in some live charts? I have also seen it long ago. |
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...
There are also some bears, like Proudhon, preaching the theory that a few people controlling large amount of bitcoins which they bought at very low prices are going to cash out at anytime, in that case I would say let the dump come then, for the general safety of the system, the bitcoins must be distributed as even as possible, so the sooner the dump, the better.
It is happening. After June 2011, this month has had a record day for coins coming out of cold storage onto the market... https://blockchain.info/charts/bitcoin-days-destroyed-min-yearVery good discovery, thanks. But does it have to do with the coins being stored twice as long that the number is so high, yet the amount of coins is not as large as it was in June 2011? Absolutely that would be the case. All this gives is an indication that at least some old coins are changing hands. I think the best way to know how bitcoins are becoming more widely distributed is to extract the top 1000 "richest" addresses every month, and determine the percentage change each time. I am thinking if we can slightly modify the days destroyed metric, e.g. to add weights to coins sitting dormant since before 2011, or using power function of "unspent days" in calculating the metric, on the assumption that bitcoin purchases/mined at later times are more likely to be of small amounts, as the price after the crash was still much higher than it was before the crash even at its lowest point, which limits the possibility of large purchases. Needless to say it excludes the early adopters cashed out at the top and bought back at the bottom, but in that case the volume would be really massive, yet I have not seen such volumes yet. |
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I see bitcoins like a ponzi right now, everyone is making money, new people join every day, see the price rise, $$$ to be made. More people are joining than are dropping out. Eventually everyone will be signed up, no one is making any money off bitcoins, but... but... then the entire world uses them for trade. success.
Epic.....and that's how EU and US run the world's biggest ponzi schemes, respectively. third world countries being the last to get in on this scheme is the reason for their poverty. And anyone who wants to make a living by really producing things. |
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...
There are also some bears, like Proudhon, preaching the theory that a few people controlling large amount of bitcoins which they bought at very low prices are going to cash out at anytime, in that case I would say let the dump come then, for the general safety of the system, the bitcoins must be distributed as even as possible, so the sooner the dump, the better.
It is happening. After June 2011, this month has had a record day for coins coming out of cold storage onto the market... https://blockchain.info/charts/bitcoin-days-destroyed-min-yearVery good discovery, thanks. But does it have to do with the coins being stored twice as long that the number is so high, yet the amount of coins is not as large as it was in June 2011? |
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this time its different, this time its a bubble! oh wait nvm its the same.. Last time price went from $24 to $32 in 4 hours. So this time IS different. I love you because you understand. THEN: Fast, from less than $5 to the all time high in a month. Whimsical, silly times.  NOW: Slow (comparatively), from around $10 to the current price in 4 months. Solid, like my dick. Green metropolis w/ consistently higher volume.  There is a TA metric to watch for that, called the "Ease of Movement", which is roughly defined as the price change divided by volume. If you look at this chart http://bitcoincharts.com/charts/mtgoxUSD#igDailyztgSzm1g10zm2g25zxzi1gEMVzv, you will see that what goes up too fast, must comes down similarly fast, but if it doesn't go up too fast, then the dip is unlikely to be too rapid. There are also some bears, like Proudhon, preaching the theory that a few people controlling large amount of bitcoins which they bought at very low prices are going to cash out at anytime, in that case I would say let the dump come then, for the general safety of the system, the bitcoins must be distributed as even as possible, so the sooner the dump, the better. |
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I see bitcoins like a ponzi right now, everyone is making money, new people join every day, see the price rise, $$$ to be made. More people are joining than are dropping out. Eventually everyone will be signed up, no one is making any money off bitcoins, but... but... then the entire world uses them for trade. success.
Epic.....and that's how EU and US run the world's biggest ponzi schemes, respectively. |
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Keep on saying things like" earth revolves around the sun" will not make you look convincing.
I don't know, it sounds about right to me Sorry I fixed it, I meant keep on saying things everybody already knows. |
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