How are we supposed to crash with all these buyers, damnit.
Those buyers won't be available to provide support at lower price levels. Let the suckers buy high now, that's good for the bears. Correct - but we haven't really needed the big guns yet, we want more of your coins - you can keep the gox bux  Good luck panic buying back! |
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How are we supposed to crash with all these buyers, damnit.
Well, someone just threw a million bux or so into a bear trap - unless they fancy 'double or quits' they better head back into their caves |
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Just wanted to point out, it's still higher than when RP invited us "to join the bears" this happened on Nov18th when it jumped up to 900 quickly. People joining bears then would have sold between 500-700 and missed out on 1k+ for sure.
Walsoraj prob said something similar too....not that I'd know.
The support down to 800 is really high - and they are not putting walls in above the sells, so a bounce back is not 'insured against' This is just throwing a few hundred coins to Loaded - was it him throwing a 100 coins in at 845 when it looked an easy push down to 820 a few minutes ago, I wonder? Not sure this is smart bears - it's a weak attack - not enough coins to do real damage yet. |
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Something isn't quite right about this downtrend. I'm starting to get some small choo choo feelings.
6 or 7 more hours and it's over. edit: China has about 4 hours of weekend left. Bears trying to get something going.... They are indeed. |
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Maybe bears decided this weekend it would be too expensive to try - but we will only know for sure by Monday morning....
I still have some buys set up and fiat ready - but I will be happy if stays over 850 and they are not filled.
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Didn't Risto say he something about how wouldn't post again until it's at 500? I don't believe he likes staying away - it's too big a part of his life to swagger around - if he really has any clout, with all he's said - he will have to have a go at bashing it down soon. I doubt he's in church today and China is hovering over 5K - bet he's tempted! Bet he's watching here, too |
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Hmm. Good morning from Europe, or should I say, afternoon.  I seen 804 was touched on Bitstamp. My sights are set even lower, though.   And a new poll... Well, well, well. I wrote this quite large puppy (38702 lines of code): https://bitcointalk.org/index.php?topic=149442.0to control Bitcoin miners, and all I have to show for it is exactly 0 BTC in donations, even though I know that there were quite a few people who found it useful. It will be expensive to get it much lower than that. 'I see dead whales' |
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Anyone smell bears? Set up your buy levels chaps - at some point today it might get interesting...
EDIT: Or maybe for Loaded it should be - 'lash yourself to a mast and watch for a blow hole'
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Ok so RP and his boys gonna dump in like 9 hours? That's when Sunday's dump usually happens. My guess is if he's gonna do it, that's when he will. Hope you all are ready for teh cheap coins! I guess he'll sink it down to the low 700s at best (from his perspective).
Watching. I'm craving more whale caviar. yumm$$$ BTCBTCBTCBTCAlright, hope you have a nice meal. He (and his "clients") may also wait until China starts it's Monday. If they start downward he can try and add to the panic. This would be more effective obviously. He wants....$500 coins right? Maybe Risto and friends are up early this Sunday - I trust Loaded will wait until he can see the whites of their eyes before he fires the harpoons... |
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Still wondering who will nail what the grey line on Bitconwisdom is.
My guess: Imagine that the cumulative bid and ask plots are the sides of a valley. (Turn that part of the chart 90 degrees counter-clockwise) Fill the valley gradually with water. At each level of the water, mark the midpoint between the left and right banks. That plot would be read as follows: suppose that we pair up the highest bids with the lowest offers, at a price that halfway both. As you do that, record the current price on one axis, and the total amount traded so far on the other axis, Makes sense? Yep - that makes sense, thanks. I am just trying to factor in what watching it will tell me - movements up and down reflecting shifting bid / ask strengths - It will be useful as a sentiment / expectation of movement indicator (although ultimately the big players' money moves will make it irrelevant, of course). |
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It was a fair few of us - plenty of tickets got opened, but my balance has been re-instated now.
Hope everyone's gets fixed!
Happy trading to all.
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Still wondering who will nail what the grey line on Bitconwisdom is.
The question has been asked a few times since yesterday....
Is it to do with bid depth average movement? It seems to move with bids, rather than asks - I am stumped - anyone got an answer yet?
EDIT - it moves with both - so it must be a balance of some sort between the two.
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The FBI was somehow able to get DPR's private keys for at least part of his stash. The FBI moved these coins to an address they control with a series of 324BTC transfers (324 = FBI on telephone keypad). So they already have the private keys needed to auction the coins off.
Why would they do it that piecewise, rather than all at once? how is this different than auctioning off rare art or expensive cars that were proceeds of crime?
I don't know. Suppose that instead of bitcoins he had the money deposited as Swiss francs in a Swiss bank account, and the FBI got hold of the bank account number and password. Could they just transfer the francs to another account in the same bank and auction them, or convert them to USD? Or suppose that he had placed a large bet on the outcome of World Soccer Cup 2018. Would the FBI auction his betting ticket? As someone has already posted they'll most likely just auction it off. It'd be very interesting to see what price it'll go for. And probably in one big transaction The Bitcoin foundation should lobby for it to be sold in smaller tranches to not allow a huge manipulation of the market. |
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I assumed someone had made some sort of 'arb-bot' across the three, but it makes sense there was some sort of inter-exchange co-operation. maybe it was a dry run, but it is effectively a currency price control 'peg' and will fail if big money wants to bust it. Perhaps the idea is to prevent one exchange being singled out for a move, spreading the load - do the exchanges trust each other enough to agree...?
Whenever there's the will, there's an action... I know about urm... 11,020,102,425 USD or 7,716,496,363 EUR or 32,126,811,250 PLN or 6,730,991,273 GBP OR 12,122,975 BTC for them to agree on a common purpose. You are leaving out greed and what is in game theory known as 'the prisoner's dilemma' - why would the Russian-based Btc-e trust Mark at Gox to not act in his own best interests in spite of any 'agreement' that is in all their best interests IF it holds? Once the market gets volatile - it always will get to the point when 'each to their own' at some point. Self-interest in markets always prevails in the end. All fractional banking-style banks cannot withstand a run, so if everyone acts rationally - and does not join a collective demand for their money back, all will be fine (in theory). But runs on banks only pay the first in the queue, so everyone wants to be first. Exchange co-operation will be ok in smooth waters, but not in calamitous times - ask Mr. Soros? I watch with interest - but it's a Darwinian and (relatively) unregulated market - so I think it's 'no prisoners' if it comes to crisis point. |
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I read somewhere they (I think FBI) said they will probably liquidate it. But they'd have to wait until after the legal process. I don't think they'd sell it directly on the exchanges though. Some insider will take the problem off their hands for far below market value. Because the FBI is not corrupt as the rest of the US govt  Someone on Wall Street will offer to 'help', I am sure - they can hardly sell on an exchange.... It will be interesting to keep an eye on it, once the trial is resolved. May it be a while til it is though..! |
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I read somewhere they (I think FBI) said they will probably liquidate it. But they'd have to wait until after the legal process. I don't think they'd sell it directly on the exchanges though. Imagine the FBI being Goxbuxed! |
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It's been known that a new API from Gox has been installed to the other exchanges as well. This is the first bold move so that the differences between the exchanges is narrowed. Maybe a few bots are in the job for it. It's just a theory but I'm sure you can observe small movements all the time before someone hits the sell or buy button like before. If you have a common API you can predict who's into such an arbitrage move.
Again; just a theory.
Hmmm... Do you remember last weekend the 3 non CNY exchanges were weirdly in sync within about $12 for hours on end on the Sunday - was this anything to do with this - they tracked each other too close for it not to be by design. Maybe it's nothing to do with it - but it was happening... If you pay attention, you might find answers... well done. Yep I remember that weird sync also. I assumed someone had made some sort of 'arb-bot' across the three, but it makes sense there was some sort of inter-exchange co-operation. maybe it was a dry run, but it is effectively a currency price control 'peg' and will fail if big money wants to bust it. Perhaps the idea is to prevent one exchange being singled out for a move, spreading the load - do the exchanges trust each other enough to agree...? |
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Friendly warning - Cryptsy is buggy and trades made are debiting the coin but not showing the trade they were aimed at, or buying anything.
AVOID until fixed. A lot of pissed off people and once the coins go, there is no record of the transaction on the site in open orders or in trades - the money disappears!
I guess they will fix, but who needs to be in the long support ticket queue at Cryptsy?
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It's been known that a new API from Gox has been installed to the other exchanges as well. This is the first bold move so that the differences between the exchanges is narrowed. Maybe a few bots are in the job for it. It's just a theory but I'm sure you can observe small movements all the time before someone hits the sell or buy button like before. If you have a common API you can predict who's into such an arbitrage move.
Again; just a theory.
Hmmm... Do you remember last weekend the 3 non CNY exchanges were weirdly in sync within about $12 for hours on end on the Sunday - was this anything to do with this - they tracked each other too close for it not to be by design. Maybe it's nothing to do with it - but it was happening... |
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