once we get over 230, there will be 0 days in Bitcoin history where the BTC price has closed higher.
Arbitrary.. |
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Google trends image. What exactly is fueling this rally? This tells me it's old money doing the same all over.  maybe there is a service called "baidu trends"? Zero trade fees in china is fueling this pump/fake-rally. Zero trade fees are what's called "free market." So I have no idea why you think that would distort the market. It's pretty easy to fake volume when there are no financial constraints to doing so. Don't you think? A single whale can repeatedly buy and sell his own coins. (That's not to say the market won't roll over him or that this is what is happening) Sure you can manipulate volume. How will that help in manipulating price? You don't think manipulating volume can affect price action? Re price manipulation, that would depend on how much of the coins/fiat on the exchange is controlled by the whale. Is it impossible that one could drive up the inter-exchange rate this way? Or would he just be run over by arbitrage? I don't really know, I'm just brainstorming... Volume manipulation can only affect price within the spread. I suppose it could indirectly affect price by screwing over other daytrader's indicators, but I don't think they could reliably do so in a way that would actually cause a defined trend in one direction. I figured that large manipulation of volume could skew indicators-- possibly could indicate a lot of buying pressure that is not real. Which in turn, could affect price action. Sort of talking out of my ass here, though. No, you're right. Its why CampBX isnt important. If they went to $500 it wouldnt effect the other markets at all. However, if they went to $300, but the volume was 20k... then, others would react. So, if BTCChina volume is "mostly real", then its being followed properly. If its mostly fake due to zero fees, then this rally is on something that is not as it seems. |
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1k off 200 wall.
edit: anyone see that 62k wall at 199.97?
lolwut? Lol, no answer? TROLL! Had my hopes up  |
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wtf is happening? The order book is going crazy, highest bid is at 209, lowest ask at 198  I think bitstamp trade matching system is a bit funky. Im fairly certain this means somerone put in a limit order to $209; and another sold to $198. However they both got met at much close prices... like $200 for the buy and $199 for the sell. |
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1k off 200 wall.
edit: anyone see that 62k wall at 199.97?
lolwut? |
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$210 right now, 5:54 am GMT, 23-October
Why lie? The odds of not hitting $210 are very low considerings its half a thousand coins away.. but, yeah.. its high is $209.95. |
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gox leading
Each exchange has its own rally points and all follow the rest to a degree. I mean, its like bitstamp and $170.. big wall being approached -> rally. So, this is like the last of the coins on gox.. [again...] - the rest following is not a necessity. |
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Bitcoin is not even at the eary adopter phase, we are in the one before that, I forget what it is called... let us say we are at the mosaic stage, pre netscape... we have not even realized 98% of what this tech can and will be used for.
Erm, at the very earliest, its in the early adopter phase for sure. Most definitely not, prophetx is completely right. Oh, right, we're in the delusion phase. Carry on! up, uP, UP! BULL RUN TO DA MOOOON |
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ahh ok I see.
derpinheimer; Where do you see bids at 2.1mill? Im looking at bitstamp.net orderbook.
Are you looking at a different site?
/confused. Sorry Im kinda a newbie at this.
Here:  http://trading.i286.org/bitstampIf you take the /bistamp off of the end its MtGox; those are the only two exchanges that site supports. |
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Bitcoin is not even at the eary adopter phase, we are in the one before that, I forget what it is called... let us say we are at the mosaic stage, pre netscape... we have not even realized 98% of what this tech can and will be used for.
Erm, at the very earliest, its in the early adopter phase for sure. |
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Ugh. Reminds me of the 1960s-70s. Who in their right mind would want to live in buildings like that? Please don't tell me that horrible urban blight was built in the last 25 years. Yuck. Whats wrong with them? New, clean buildings built on higher standards than the older ones? |
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Bids volume is at 2k right now vs ask volume still at 6k. Does this mean the price 'should' go down?
Thoughts?
What does that mean? I see bids as 2.1m [actually down a bit, from 2.5m], and asks at 15k [mostly stable around here] however 400k in bids can come and go at any minute.. so, basically.. the orderbook is unchanged [although extremely unhealthy] |
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An observation:
Last March/April, during the media coverage, my friends and family were interested in hearing about bitcoin, but not a single one took the next step and purchased any.
But now, upon hearing about the recent run-up, three people in my network are making small purchases. They are starting to believe there's really something to it.
So, its a bubble? What would make you think that? When people start buying in to something because the price is going up, to me.. that sounds like a bubble scenario. |
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An observation:
Last March/April, during the media coverage, my friends and family were interested in hearing about bitcoin, but not a single one took the next step and purchased any.
But now, upon hearing about the recent run-up, three people in my network are making small purchases. They are starting to believe there's really something to it.
So, its a bubble? |
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China all-time high is 1944 CNY/BTC. I dislike the concept of "closing high" so I intentionally omit that from this post.
I disagree. I think technically, closing highs are more important than all-time high. This ^. Price sustaining over time (until the end of the day) is important just like closing the weekly price is more important than the weekly high. Closing is completely arbitrary, therefore.. no. |
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Interesting that 210 became the first significant resistance over 200. Would have thought at least 225. |
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About 600 coins to surpass 205.5  Now 700 for $205; not that it really matters  |
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After this rally (currently around 200$), when do you think we will have again an opportunity to buy "cheap" bitcoins?
But they are cheap now. Try mining 1 BTC to see the costs and figure it out for yourself. It costs more than 1 BTC to mine 1 BTC. In order to profit from my last mining investment, I literally had to re-sell my miner JUST after I bought it and mined for a few days. If I had held onto it for even a couple more weeks, I likely would have lost. The fact that the system relies on other people buying your old equipment shows that it, in total, is unprofitable. By this logic, buying or renovating a rental property is a terrible idea. Wrong. |
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oda.krell, keep a close eye on the market indicators. While a small bump up is still possible IMO,
if we are to enter capitulation (I mean start it, not end) things can get ugly quickly.
To me the Chinese market looks like a re-enactment of the April 10th peak and crash.
Give up, you've been crying for 3 weeks now. Either take your losses or shut up. You won't be right much like proudhon after 1000 wrong predictions and then finally a drop. |
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Fail, msft would be up about 20 percent...a year. That's no bubble.
20 percent in 3 days....
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