Are you going to reimburse the seller who sold well below what would have been market price (plus some slippage maybe)?

I wrote about this trade engine glitch on their twitter page, and submitted a post on r/bitcoin. I encourage every Bitstamp customer to insist they answer this question: why did their trading engine glitch, and how do they plan to make sure it doesn't happen again?

I see. This makes no sense at all, and really bad news, in my opinion.

If Bitstamp doesn't address this, I will seriously consider moving my business from them.

What just happened on Bitstamp? 64 btc order down to 633, doesn't make sense. Anyone can confirm it's just a btcwisdom glitch, or did the trade actually hit 630 for real?

WTF?! Just checked on tradingview, they show it as well. Bitstamp trading enging fucked up?!

The guy made a number of excellent calls in the past weeks, give him a break :) But yeah... I think he was right about 666 being a focal point, but he got the resistance vs. support part wrong.

agreed. I am extremely cautious using trendlines for anything other than as, hm, "background music", for my trading. And double so if there aren't much points of contact, as you point out. Still, the (shaky) trendline I drew corresponds to the larger question: "short-to-mid term downtrend seems broken, what about the mid term one since December." I could have asked that instead, but people like pretty pictures :D


ADDENDUM: You mention the number 1000 as well, and I've seen it several times in the last days... I don't buy that it's an important milestone right now. It's similar to how people thought the area between 200 and 260 was of major importance during the last recovery. It was, but only until later into the game. And in the end, it was broken rather swiftly (with help from China, of course).


My point is, right now I see 700, then 800 as major psychological milestones to be taken out, and possible points at which the recovery can start stuttering again. Once we're battling for 1000, I don't think we will still be wondering if 400 was the bottom.

Arguments in favor of snapping back could be that we are pretty overbought right now on the daily chart. Also, Bitstamp order book doesn't really pull along (very cautious bid/ask spike yesterday, but already softening up again).

On the other hand, we had a very impressive breakout, on high volume, CMF holds up extremely well (2h and 6h), and we keep attacking 700.

I can sort of see a case where we go down somewhat hard though once the market finds out 700 isn't sustainable right now, but even if that happens, I doubt we'll spend much time below 600.

Yesterday saw the break of the 1 month downtrend that took us from ~800 to 400. Broken with force, that is. What about the other, big one? Are we going to break through 720-730 as well, taking out the next longer downtrend in one go?



I'm skeptical we could reverse that fast, but current momentum sure makes it a possibility, I'd say.

What's your take on it?

makes sense. but then, in addition to normal distribution, max users (set to 12M here) is also a huge assumption, no?... guess I'm just trying to squeeze out what is the truly speculative part of the map, and what are the (simplifying) assumptions I can, more or less, subscribe to.

I didn't say any of what you defend against. Strawman much? I just brainfarted that the ideal trader would have the (justified) pessimism during times of correction like you did, when you went through your 'short ALL the coins' phase, and the (justified) optimism of sgbett during or near the reversal. I then decided to *share* that brilliant idea with the rest of the world, and I enthusiastically invite you to THANK me for it.

Interesting idea, trying to get what exactly you're doing though... You make no further assumptions rather than that coin holdings are following a normal distribution (probably not the case, but like you said: let's roll with it for now), but is there any empirical input? Is the 'number of users' value based on actual statistics, or does it follow from the assumption above? If the former, where does the data come from, if the latter, how?

Alright, I see. If that's the case, that you submitted all the required info and your withdrawal still isn't getting through, and there's not additional details you aren't mentioning, like MissPiggy above who thought it was a clever idea to sign up with a fake name, then a) I'm sorry to hear your funds are in limbo, b) want to mention, for completeness sake, that I belong to the group of people that for whome large withdrawals went out fast so far -- I mention this, because I don't see reasons to conclude they have a cash flow problem yet, like mtgox did, and c) would also like to hear how your situation resolves, as it's never good news to hear that someone's money is stuck. Ideally, someone from Bitstamp would comment on this in here.

Did it ever occur to you that those of us who are kind of good at spotting when a correction isn't over yet (you, TERA, mmitech, maybe me) are also the guys who have a harder time figuring out exactly when the tide has turned and the correction *is* over finally (or at least: for the mid term)?

You know, if there only was a name for that kind of mindset that makes it easier to see the built up risk in a market at a given moment vs. those who have an easier time (too easy, often enough)  only seeing the potential benefits... something like cows vs. ursidae... yeah, that sounds catchy!

The foundation is here to stay, as long as no substantial number of miners, users and investors have an aversion to them big enough to force them to disband. Deal with it.

As to why that is the case... well, let's just say, after reading that psychopathic, textbook Dunning–Kruger drivel by OP, I suddenly feel almost grateful for the contributions by the (mostly bland) people that seem to populate the foundation forum.

Mouthfoam away, OP.

haha, you sure 666 is resistance? starts looking like support to me :3

Well, I admit I didn't take your case entirely serious because so far I can't even tell if (and how) you submitted answers to the additional KYC questions. On the previous page I got the impression you were making a point about how annoyed you are by those questions, considering that you already submitted your passport etc., so I'm not sure if you say you answered them.

So I'll try to be fair: You have a verified account, you wanted to withdraw some money, you got the additional questionnaire, you answered that questionnaire, and you're still not getting any response. Is that correct?

Ignore the other response, by Kumpel... So much bullshit and FUD in here.

Account *verification* once all documents are submitted takes less than a week usually.

And about the additional AML/KYC questions: it seems you get a set of additional questions when you make large withdrawals or deposits. A number of users already said that, once you answer them, transfers go out quick (within a few days at most). If, on the other hand, you signed up on the exchange with a fake name, well... then it might take a bit longer :D

Maybe I'm just a narcicist, but for me it's all about my own reactions, and observing them. You know with which thought I woke up today, 2nd time in a row? "I hope price acts nice today, and I can buy back in at a small profit, or at least profit neutral".

Once I realized that, I knew I'd buy back at a loss. Then I waited another hour, and paid for it.

The next step is simply: If *I* hope for a new bottom, for cheaper prices, while sitting on a big fat pile of cash, then why wouldn't others do as well. We're just one big pack of monkeys waiting for one of us making a move first, then rushing to get in on the action as well once it's clear it's a trend.

It's the same thing over and over again. And, yes, I also fall for it more often than not as well: volume can be a poor indicator, when there's money sitting on the sidelines. So what it takes is a short crash to reveal the underlying buying pressure. We had that "flipping the light on in a dark room" moment, at 400. *That* was the volume I should have focused on, not the pathetic volume of the last days.

If a room full of gunpowder blows up because some guy lights a match, who do you call responsible for the explosion? The match, or the room full of gunpowder? The match was that whale on bitstamp today, at midnight. But what actually blew up was built up buying pressure.

Take that interpretation or leave it, but I find it more plausible than that a few thousand people suddenly decide that *now* is the right time where the already well known Ukraine clusterfuck *really* warrants buying into Bitcoin big time.

Don't stroke your buy&hold ego too much. I can't speak for others, but I took a loss earlier today, but it's just a fraction of the profit I took by selling early enough into this downtrend.

But sure. If you're a stubborn bear, you'll get punished. But stubborn *anything* gets punished in a market, that's a universal truth.

Dat DAILY candle