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Don't take volume seriously outside of us markets. I mean, kraken, etc. Are probably legit too, but so small.
Admittedly the China trio all using fake volume bots is annoying
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once all the shorts are in, we should be able to move again.
shorts still increasing, this could take all day... now >21K coins good stuff. And short swap rate increasing, just reached 0.1 Wow, big spike. Good - let's clear these shorters out and see if there are enough real coins to push the price down anymore.. |
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Huobi order book... Holy shit
Usually this signifies reversal.. But I've never seen it this bad before
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Didn't you get my PM? I want to quit like Tzupy, it's become too much of a hassle for me.
Thanks
The best are leaving...  yeah it's a pitty. I hope it isn't the "activity check" that makes them leave. I still think it's a necessity. I think it's only needed for people who never traded (the original 100 usd hodlers) Everyone else.... Eh. |
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> 270 within the hour.
Great call, bro. Here is mine: $180 by Friday.  lmao  |
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the next crash will be spectacular.
$9m of new longs and 2k shorts close (net) over the past 30 days.. yeah, I'd say this isnt looking good. the next crash will be spectacular.
Cool! I wouldn't mind picking up some more cheap coins! Because for a bitcoin believer, $200 and $260 are so different. You're full of shit. |
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Sigh, it's frustrating that some people in here don't even know what the term "ponzi" means. Let me unfold it for you then: Bitcoin is not a ponzi scheme
Wikipedia defines a ponzi scheme in the following way:
"A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned by the operator. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme."
Now let's see if that fits bitcoin:
-Does bitcoin have central authority? No.
-Does bitcoin pay returns to its investors? No.
-Does bitcoin require an ever increasing flow of money to sustain it? No.
Bitcoin is not a Ponzi scheme. It's a true innovation in computer science and solves a well known problem called the Byzantine Generals problem.
It's a new type of monetary system based on mathematics and rare numbers. That's why it's a game changer. That's why we see 5-10 million investments to bitcoin startups every week. It has nothing to do with a Ponzi scheme. http://www.ted.com/conversations/23415/bitcoin_is_not_a_ponzi_scheme.htmlThat doesn't mean its not very similar  . A pyramid scheme may be a better definition. Seriously, I don't really believe its either, but when you come back with retort like this... |
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so let me get this straight, 700k went long on that spike to 269.5 on finex, and at about the same time 450k went short. I guess one could well have been in response to another. It looks like the long was a margin buy, did anyone see it?
There was a 5k wall placed at 250, minutes later it broke up into staggered walls, seconds later it looked like all 5k plowed into the asks. you are not telling it right. someone borrowed another 1.3 mil, flashed it with a massive buy wall on 250, a lot of lemmings and whale kamikaze bought a lot of short positions. that's it. and I prefer wine to beer. Yeah a lot of it getting eaten was shorts, but not all. $1.4m of longs opened, cleared out by less than 3k of shorts. So, that's about BTC5,500 vs BTC3,000. |
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Sell @ 291.53USD
dnaelor, I see in the scoreboard that i'm still full btc I commented a lot that I was busy and couldn't update. Although you can still trade, even if it isn't update. You can post trades and I will calculate chronologically. On a sidenote: i'll update in the next few hours. I finally have some time  Feel free to ignore my last two trades. I'd be happy to make it easier on you  |
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Going down below 260. Just some crazy buyer.
That's my take on this...
It would be more convincing if it wasn't based on swaps. But could someone be hogging all the swaps in order to keep weak hands from worsening their positions? Someone trying to keep the ship afloat? Yes, definitely. Did anyone catch how many days this $2m long was active for? I missed that part. |
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According to BFXData, that entire wall was just a massive long position..
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Well, that whole wall is gone now. What happens from here? That took a lot of coins off the market if he is a serious buyer..
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What the hell just happened to the bid book on finex?
now thats a wall.  And here you can see the bidsum predicting now.. |
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1: bid sum is an excellent predictor of BTC prices. History shows that the two are very well correlated. If it's price that contributes to a rise in bid sum or the other way around is irrelevant.
What you wrote contradicts itself : you said it is a predictor and then you say you don't know which one leads the other. Correlation is not prediction. It predicts NOW, not the future. Now it is your turn to contradict yourself : predicts & NOW I didn't think I'd really have to expand on that. If the bidsum is still hitting new lows, then the price will, too. If we suddenly saw a spike in bidsum, then you'd expect a price rise. Not really contradictory, it just can't predict a month from now, because bidsum can fly up and down. No... |
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1: bid sum is an excellent predictor of BTC prices. History shows that the two are very well correlated. If it's price that contributes to a rise in bid sum or the other way around is irrelevant.
What you wrote contradicts itself : you said it is a predictor and then you say you don't know which one leads the other. Correlation is not prediction. It predicts NOW, not the future. |
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For those of us that have been through a couple Bitcoin bubbles, we know how crazy fast the price can rise when it finally decides to do so. I believe it is more painful to miss out on that than just riding out these crashes, or equally so.
But price is not some magical thing that does whatever it wants. Past bubble happened because people wired millions and millions on exchanges and you were clearly able to see it, among other things. If price is about to go in a bubble you will be able to tell. This time around it looks like nobody gives a flying fuck tho. At least for now.   $14-15M in bids currently on bistamp, bitfinex, btc-e, okcoin, huobi, btcchina, okcoin and coinbase ("$75M from NSYE!!!11!") combined, and still relentlessly going down. 3600 coins mined a day (almost $1M a day at current prices) and still 2 years of that shit. Marketcap at $3.5-4 billion. Any way to get a cumulative chart like that? BFX, Bitstamp, Huobi (BTC-E/OKcoin if you can get the full orderbook) |
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saxon84 I transferred my wifes saving at $297 what a disaster :/ saxon84 no. holding. hopefully it will retest $300.... well i'm sure we're going to breakout above $300 soon. He shouldn´t have listened to that damn bullscammers. I hope Blitz and theymos will ban them one by one. This is getting a serious problem. Hes only down 1/8th.. not so bad? I mean, yeah, that's awful for his wife. But I'm sure many people are sitting on losses far exceeding 1/8th from this drop.. |
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