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Merchants selling, miners selling. Bitcoin is still profitable to mine with better-than-average chips and cheap electricity. But the inefficient miners are dropping out, and will continue to.
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This data is very misleading. The increasing (ATH) number of shorts doesn't exist in a vacuum. We don't know how much of these swaps are a) new traders/increased liquidity vs. old liquidity and b) how many swaps are actively being used to take short positions.
Follow this data at your peril.
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This is getting to be a concern.
I've got some low-placed bids, but the problem with that is that if there is a flash crash, Bitfinex has an algorithm to delay it. And they also might intervene to reverse orders as they have done once. So it is hard to predict how to take advantage of this. I'm guessing that a small crash will be acceptable, but a larger one could be slowed down (and thus partially stopped) or lead to reversed orders. So very low bids are less likelier to succeed that you would otherwise expect.
How does the algorithm work? They restrict order execution when large orders will cause Bitfinex to fall considerably below other markets. They don't allow it to be dumped at once; rather, they let it dump below other exchanges, then let traders buy up the gap, before allowing more of the dumps to execute. In other words, Bitfinex is speculating on its own exchange -- assuming that traders will keep buying as long as Bitfinex price is below other markets. One problem, of course, is that they may be wrong. In the case that the order book can't cover margin calls, this algorithm will exacerbate the losses its lenders will suffer, since it will allow bid liquidity to be removed when forced executions should have already occurred. |
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This is getting to be a concern.
I've got some low-placed bids, but the problem with that is that if there is a flash crash, Bitfinex has an algorithm to delay it. And they also might intervene to reverse orders as they have done once. So it is hard to predict how to take advantage of this. I'm guessing that a small crash will be acceptable, but a larger one could be slowed down (and thus partially stopped) or lead to reversed orders. So very low bids are less likelier to succeed that you would otherwise expect.
Agreed. I am not concentrating on catching margin calls on Bitfinex, but rather on BTCE, who has a history of allowing cascades through the book without reversing orders. Bitfinex's algo can be taken advantage of though, to be sure. In the past, when I saw the zig-zagging price action that the algorithm caused (since orders were being held by Bitfinex), I was able to safely fill bids $30 below market and sell $30-40 higher just minutes later. |
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Really excited to see everyone shorting bitcoin lose their money when they should be accumulating as many as possible and go long.
Remember, people said this same thing all through 2014. "Epic short squeeze coming." That's not really how it happened, though. Sure, shorting $1100, or $800, or $400, was a lot better than shorting $260. But we may push much further down yet.... Not much, $285 left until the floor. The upside, on the other hand, is at least several times larger. Sure, that's one way to think about it. But risk/reward is not the only factor to consider. As this past year has shown us, the probability that we reach that reward is worth considering. |
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How do withdrawals work? If it is on a USD poker network, I assume you deposit bitcoin and are credited in USD. Can you then withdraw your winnings/balance in bitcoin?
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Really excited to see everyone shorting bitcoin lose their money when they should be accumulating as many as possible and go long.
Remember, people said this same thing all through 2014. "Epic short squeeze coming." That's not really how it happened, though. Sure, shorting $1100, or $800, or $400, was a lot better than shorting $260. But we may push much further down yet.... |
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Meanwhile, network hash rate accelerates upward  Someone must have fallen and hit their head. I can't believe that many are still making money mining. I think that well-positioned miners are still making very good money selling at this rate. Casual miners in the west -- not so much. But established miners with good access to new generation chips and cheap electricity (in China, etc), I believe can still be profitable. I remember seeing numbers thrown around, but cannot recall them now, though. |
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How do you think Stamp hack will affect bitcoin price when they open trades again?
Will price drops?
TY!
If this was 2013 or earlier, news like BitStamp hack would have caused immediate dumping on all exchanges, but there's only been a slight depress in the price following release of the news. If anything that suggests to me Stamp's reopening will not have any real effect, but who knows. Maybe we'll have a Gox-like inflation on Bitstamp upon reopening.... but this time, traders on other exchanges may not follow such a rally the way they did on Gox last year. Is there a thread that discusses the Bitstamp hack at length? What are the facts that we know? |
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I just played a few hours of Texas Hold-em on your site for the first time and enjoyed it. Easy to make a deposit and then tried the withdraw and it worked great. I would recommend playing poker there.
How's the traffic/liquidity? I wonder how much overlay there would be on a $1 million (BTC) guaranteed.... |
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is it better to buy back now?
I am waiting with bids clustered around $200 and $130. If I miss, and we look to be beginning a new uptrend, I'll jump on the train then. I just don't see any reason to jump the gun. We're teetering on support, and it's unlikely to hold, methinks. |
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Even once you believe you have a statistical edge, you have to use proper risk/reward strategy with stop losses to maximize gains and minimize losses. I would say a 3:1 or better risk/reward is ideal.
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Haven't been on SWC in a while, about a year or so... looks like I need to download a client now? How are the games/traffic?
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There was one open Senior Member spot, and then a Hero Member dropped out. So, there is one Senior spot available, right? Please let me know, I have added the sig and would like to join up.
Post count : 260
Activity : 260
Position : Senior Member
LuckyFlop Account : n/a
Bitcoin Address : 1LH9cArkRXD3fwCRzjBAUVdfSuUvgcTLVg
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I don't think we really need any news. This is just another cycle of bitcoin. As long as it's adoption kkeeps going I have no question that we won't continue up.
I agree, we don't need any news, and this is another cycle. But it's part of a bearish cycle, and news simply won't reverse that. Maybe masterluc was right... 3 year bear market.... |
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Hey. I just peeked into the future, and I saw bitcoin everywhere. Bullish!
That may be, but in the short term, this hasn't turned bullish. Every bounce has been a fakeout, just a short squeeze. No real reversal. Not that I wouldn't love to see reversal....  |
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Hey EvilPanda, I got the BTC for last month. Please sign me up again! Added you, we have 3 spots left. Please use the new sig  I count one spot left..... I'll check back to make sure you confirm. Please sign me up. Posts: 201 BTC: 1Jtv8fQDB4HPVpcqNpnw7LiQYWAH79e8Fs |
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You can't run out of buyers in Bitcoin. You may eventually run out of sellers though
You can't run out of buyers? I've been watching price action all of 2014 and it seems that each support level we drop to, we run out of buyers each time. Sure, there's plenty of buy support at $1, but how about $400, $500? $700? |
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