10k bfx wall is back
They obviously do not want to sell and I am betting they are using a pretty high amount of margin to execute it. The fact that weak hands are actually selling because of it is sad. I would disagree that they don't want to sell. They have put the wall up several times over a few days; at this point anyone that wants to buy a lot of bitcoin would have seen that wall pop up and can expect it to pop up again a few times a day, and they will be able to buy a lot instantly without any slippage. This guy is just advertising his wall, waiting for someone to buy. Putting that wall up so often would be idiotic if they don't want to sell because if the price is undervalued, someone is going to buy a few thousand instantly and that wall guy will lose a ton of money. I just do not believe any major walls that are placed on BFX compare to BSP. With margin and being able to short on BFX most of the time any walls that are placed on BFX will be pulled once it simply gets near the price. I do not even think BFX has that many coins sitting on their BSP account to sell that many coins. If he was willing to sell that many coins, it would completely wipe out BFX's order book like every time there has been a spike. There is a reason why that wall has been holding for so long on BFX compared to if it was placed on BSP. There really aren't any major players on BFX like BSP wanting to even remotely buy that many coins. BFX has grown significantly and I think its comparable in size to btc-e, not counting litecoin or other alts. BFX doesn't need coins on their BSP account; they have more than enough on their own books. You really think someone is shorting 10k btc on max leverage on bfx when someone could easily buy a large chunk if not all at once, especially now since they have had a lot of time to get their money ready and think about that decision? They could lose a few million very fast if someone does decide to buy into that wall, given that they are shorting. We can speculate about whether or not there are major players on bfx and its hard to tell, but I think there are now just because it is the best way to short bitcoin, which has attracted many traders. No one would risk so much money by shorting 10k btc on the assumption that no one can or will buy into their wall. The reward of possibly buying at most few hundred slightly cheap coins is nothing compared to that risk. And the fact that this person is advertising the wall, putting it for a few hours every day, suggests that they are trying to sell the coins. Agree, nobody risks being called on a short like than in a stagnent market on high leverage. I too beleive its an advertisment for a sale with no slippage for either party. |
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If you meet a stranger somewhere in the wilderness, what is your first thought? Kill him and steal his boots?
My first thought is 'I wonder if I can keep this guy from killing me for my boots' Isn't defence (flight) or attack (fight) the most basic human instinct. So both of these are just natural instincts. I'd put greed and sex far before fighting. Yes, but in the situation of meeting a stranger in the wilderness and deicding whether Im gonna steal their boots or run away to stop them stealing mine then fornicating is probably not my first instinct in this case. |
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If you meet a stranger somewhere in the wilderness, what is your first thought? Kill him and steal his boots?
My first thought is 'I wonder if I can keep this guy from killing me for my boots' Isn't defence (flight) or attack (fight) the most basic human instinct. So both of these are just natural instincts. |
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Its just a general period of quiet with no one really buying but no one really selling either but that can all change very quickly in bitcoinland  |
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@Rannasha You don't mine new coins. You mine blocks. Transactions that are included in a new block are considered to be confirmed. So confirming transactions is done by mining new blocks. I still don't get it  What is precisely the order of operations, when I transfer you some bitcoins? Starting from what the wallet software does at the very beginning. Please help... When you send a transaction you use n number of inputs that were received by you from the transaction that sent you coins. When you send a transaction it is broadcast to the network and miners who are mining to solve blocks can then include it into the next block that they are mining. The whole network sees the transaction broadcast so whoever is you are sending the coins to will see almost immediately that they have received coins and the confirmations come from blocks being built onto the chain. The longer the chain, the more confirmations there are means you can be sure that the coins are safely not a double spend. |
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Have you read the bitcoind wiki ? https://en.bitcoin.it/wiki/Bitcoind Perhaps if you read through it properly and then return with more specific questions you will be more succesful in receiving help. But the command line argument for notified of blocks is -blocknotify=<cmd>. You can also change this setting in bitcoin.conf. |
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There's no need to give this guy so much attention. The guy didnt even know how to set up a wallet so why pay attention to any information he's fed. Clearly he's not a big player and is basically someones pawn and mouthpiece.
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Another boring morning in bitcoinland then. No walls to observe, no trains to post  ltc is a bit more interesting today  I know! never thought id be sitting here with more ltc charts open than btc. Even reading up on some new alts... |
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Another boring morning in bitcoinland then. No walls to observe, no trains to post |
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suppose that's him hoovering up all the coins at 619.17?
i don't get it. he has bought 300+ btc in five minutes but he could have dropped the market another 30 - 40 bucks and gotten the same result. Your presuming its the same person ? |
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Its just so easy for early adopters to manipulate the market on such low volumes.
You can almost guarantee that the wall will return...
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Any reason for this dump or just mindless dumping because everyone else is?
2K BTC is nothing. That's not a "dump". The real problem is that there is nobody buying. Yes and look at the bid sum on Stamp, it has been going down over the last week or so and is now sitting at just 12 mill |
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I think its safe to say were on our way down. Any one remember what happened after the last person sold 10k!
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Is this normal to not show any lower bids?  Bitcoin Wisdom is just generally fucked and never reports the right volumes. |
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A random dump then or are we generally heading down to start the week off?
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Yes it is strange, its a lesson in how to do it though, rather than jsut market sell and let it rip through the book!
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Data reveals:
Largest balance is 44K BTC which has not been accessed since 13/7/12
Next largest is 43K BTC last accessed on 25/2/14
It continues with 10 more 5000+ BTC balances where the accounts have not been accessed 2012.
Wow, that is so sad. Thats an absolute fortune  |
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