Bloody optimists. lol.. It would be excellent if Cyprus told the rest of the EU to pound sand, re-issued their currency with a gold backing, and turned itself into a data- and tax-haven. I'm not holding my breath, though. ..and made Bitcoin legal tender and encouraged exchanges!
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Sounds like Cyprus is going hot again ... parliament refusing to back the Troika's demands (?) again. They might be leaving the Euro if this happens.
The decision about Cyprus' gold is the fork in the road. They either roll over, sell their gold, take 2 decades of austerity and Greek-like pain, and remain an ECB-puppet. Or, they can exit the euro, re-issue their pound using gold to give it some semblance of backing, so that it doesn't immediately hyper-inflate, and tell all the foreign bondholders to take a 100% haircut. Lots of economic and social pain either way. The 2nd route might have the economy in reasonable shape after 2 or 3 years. The Cyprus pound used to be worth nearly 2 euros, at parity they would have lots more tourism and export advantages.
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Spike to 102, not much resistance left at this level. So much for theory. We should already know that Bitcoin has fundamentals on steroids. FWIW, next resistance at 115, then blue skies to 170
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# Bitfloor just got their bank account closed # Bitcoin-24 got both their German and Polish bank accounts frozen # CaVirtEx got their Royal Bank account closed, not sure how to fund them right now # MtGox survives and thrives although the SEPA transfers are crippled by insufficient daily limit of their Polish bank account # BTC-E rejects many claims of accounts being hacked - I wouldn't trust a Russian exchange run by unknown people anyway sorry. # BitStamp survives and thrives so far thanks to lax legislation in Slovenia. # BTCChina - no info at all about these? # TradeHill - back from the dead - good for companies maybe. 10000$ minimum to get in and trade 1000$ at a time # CampBX - this seems to be working although with very low daily limits
Did I forget anyone? Also pls correct anything inexact above.
This, taken all together, is quite serious. A true global currency needs many large exchange services to/from fiat. The manual, ebay, face-to-face and other fallback options are fine for the minor coins, but not good enough for BTC to do anything except limp along. Without Mt Gox they would still be worth $2 each. I hope they keep going as well as they are. We need the London-based exchange Max Kaiser mentioned, and companies like xe.com and oanda.com to take up Bitcoin too.
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On the four-hourly chart the level between 90 and 105 is major resistance. It would be extremely bullish if Bitcoin was to burst through that from the low of 50 in a single move. Volume is very light over the last 8 hours. IMHO a retrace to about 75 is expected first.
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It was only a matter of time before proudhon was right. You should have listened.
Well, if we made it to $266 then maybe I was wrong and the market is growing enough to sustain the growth.
Followed by a mass sell off by all. Proudhon said $266 was sustainable...
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Hope its ok i ask many questions, im still learning
Why somebody put that big wall at 99.5 ? If somebody want sell so many coins. Wouldent it be better to let the new monday money flow in. Hoping for a small monday rally getting the price up. And then sell little by little for higher price ?
Is it some kind of strategy i miss.
If everyone thought the market was going up it would race to the moon straightaway. Markets are always a fine balance between buying and selling pressure. When there is a bit of news, or change in sentiment, or some big orders which tip the balance then it ticks up or down for a while. The owner of the big sell order thinks the downward trend is intact, and expects to re-buy at 80 or even 70. They may be right, or they may lose out on a lot of profit. The person who did the recent 6k buy thinks it is going up, and just may be right!
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And look there is another relatively large ask wall 1673.7778@ 99.5.
Yeah, still plenty of bitcoins looking to be cashed out it seems. 1673 vaporized. BTC headed up!
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Well, almost 10:00 in China now...
8am in Europe. Those SEPA deposits should start clearing any minute now. And these are SEPA deposits sent from before the crash, so there should be a big wave of new money appearing any minute. New uptrend underway! 6k buy crashes back thru $100
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Yeah even in the daily swings, I see tons of trades such as selling 200 coins at $87.... when it was for example, $95 an hour ago. These aren't even tiny trades, either. I wonder why some people leave so much potential profit (if they're cashing out) on the table?
Question. Are bids fulfilled by history / age? If there was a 3K wall at $90, but then I added 100 coins on top of that (presuming no other trades), but someone only bought 3K worth (since it was older than mine), would my bid be left on the book then? I would imagine the longest-standing order at any given price is fulfilled first, then worked backwards from.
Yes. Orderbooks are filled best price then oldest time (first in first out) order. Just out of curiosity (and I'm sure I could find the answer if I looked), what happens if there's a sell at say 89 and a buy at 91? That's when an orderbook is crossed. However, the exchange should net them off and uncross it. So this happens when the market is halted, after trading hours, or during an exchange technical problem. Display issues on trading software can make it look like an old order is present - when it really isn't there.. :-)
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Looks like it's "Dump & DDoS" time again.
Doesn't seem to have worked though, no gox lag and no panic (yet).
Fuck, this btc buisness is big stress i not get any sleep, and need go to work also ;( lol i just sold at 88, but if i have my usual luck it will go back up now So. You sold at 88 when it had spent a day at 100+, only a few hours before all the new fiat enters the market on Tokyo Monday morning. Hmm... I am pretty stupid at this.. i buy back selling 2 times in 30min leaving me with aprox same 100 coins i lose 0.5 coin i will play this out with btc, and hope from tomorrow will go up I have 900-1000% profit and have stress wonder how these people who play for real money feel I would have 900-1000% more stress For what it is worth, I don't think we have seen the retrace of the fall from $266 yet. We have seen the reflex bounces off the bottom, which did not even get to 50% of the peak. Because the run up took weeks then the retrace (which may top out between $170 and $220) could also take a week or two. This is just my theory, not using any DeLorean time-machine...
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Yeah even in the daily swings, I see tons of trades such as selling 200 coins at $87.... when it was for example, $95 an hour ago. These aren't even tiny trades, either. I wonder why some people leave so much potential profit (if they're cashing out) on the table?
Question. Are bids fulfilled by history / age? If there was a 3K wall at $90, but then I added 100 coins on top of that (presuming no other trades), but someone only bought 3K worth (since it was older than mine), would my bid be left on the book then? I would imagine the longest-standing order at any given price is fulfilled first, then worked backwards from.
Yes. Orderbooks are filled best price then oldest time (first in first out) order.
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Looks like it's "Dump & DDoS" time again.
Doesn't seem to have worked though, no gox lag and no panic (yet).
Fuck, this btc buisness is big stress i not get any sleep, and need go to work also ;( lol i just sold at 88, but if i have my usual luck it will go back up now So. You sold at 88 when it had spent a day at 100+, only a few hours before all the new fiat enters the market on Tokyo Monday morning. Hmm...
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New spambot behavior. Sub-second buys and sells at prices only ticks apart. (micro-orders as well). Question for Mt Gox - why aren't the people who own these banned for long periods or completely?
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Arguably OT, but still important to the thrust of the OP and much of the debate where network security = decentralization. Astounding developments like this will drive forward Bitcoin's success.
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If that wall of 7k bid is cracked at 76 then its all gloom, going to near 50 is very probable..
That wall of 7k was an intergalactic force-field!
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Bots provide liquidity.
0.01 is not liquidity. And multiple orders at the same price is abusing the exchange's system. Can anyone call this a sensible orderbook?
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Death by a 1000 cuts... Its a failure that gox or the other dont put a stop to it! They need to filter it out! Mt Gox is still being spammed with micro-orders and sub-second order cancellations and inserts. This is an abuse of the privilege of a direct exchange interface. Other global exhanges terminate access rights to clients abusing their systems. Capacity at Mt Gox may now be 50x greater, but the spambots will eat this up in no time. Why are they tolerated?
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C'mon guys let's help bitcoin and start buying...
too early; bitcoin is still way overpriced; last stability was somewhere around 20 USD Check the charts. Since around 20 it went straight up. In the long run (next couple of months) I predict bitcoin will go there. There was a lot of investments into infrastructure recently with coming of ASICS, so miners will sell a lot and push the price down. On the other hand after recent sell/offs with a lot of people burned and negativity in the news, money inflow will decrease. And I don't think large investors will come to save bitcoin if common people don't care, they would burn themselves and they are not charitable organizations, they are looking for profit. So the 100,000 news articles and worldwide interest since it was $20 has no long-term effect at all? And pointless considering that millions of people know about Bitcoin who had ever heard of it before. So no effect from all that? Really? Just maybe $90 is the stable price with all that new buying interest ...
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