 Bids are disappearing fast... ... on bitstamp. Do remember, there is a thread just for that exchange. On MtGox, the 400BTC buy might slow the downward pressure for awhile. |
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Such lament already and yet the bear market in Bitcoin has only barely begun!
It's been a bear market for a month now. Bitcoin likely can't survive another extended bear market. Those of you who want cheap coins be careful what you wish for. Your perspective seems pretty short and shallow. The chances of bitcoin actually succeeding are very slim. Very few people actually use bitcoin and even fewer haven even heard of it. We need to build some momentum if it's ever going to succeed. Bitcoins have actually become much harder to trade in the past couple of months (no more dwolla on mtgox, and no more usd mtgox bank transfers) and it is still way to hard for the average person to obtain bitcoins. And many of the Bitcoin promises (bitcoin ATM, bitinstant debit card, paypal and western union looking into bitcoin) have yet to become reality. There doesn't seem to be much on the horizon for bitcoin right now other than increased government regulation. i don't think you've invested a lot of time in understanding what's going on with btc .. there's a lot besides regulation. many new companies are coming out this year. lots of money that's been invested into innovation. the common person does not know TCP/IP yet uses it everyday. Yes, but bitcoin has no use for most people. Even myself. I cant see why I would ever want one, outside of trading. At least for now. "A store of wealth" seems like grasping at straws. |
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And Gox has been goxxed  Had my hopes up there for a second - thought we were getting DDOS'd. You know, because.. what those do.. uhh, -- TREND REVERSAL! Yep, I definitely want it to go back up  |
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Wtf... 400 left on 100, and someone puts 300 ask on 100.01? Thats suicide if they really intend to sell those..
Nevermind they wised up and market sold.
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Down we go! 100.10!
4k+ sell!
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Less than 6k to 100 and dropping...
Downward pressure is growing [relatively] quickly. Its all on moderately low volume, but asks on 102 are moving down. A 3k buy only pushes us up $1. |
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Yeah, its still profitable to run them at a $50 exchange rate. GPU miners will probably shut down though - helping slow the rate of difficulty increasing, and helping out the ASICs a bit.
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You wouldnt do it by beating your own asks by 10 cents even when the previous one was
1) The cheapest already
2) Being bought into
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Mr. 125 ask walls seems to be intentionally pushing us down now. Some of his asks at 104.X9 have been pulled, as well as his 105.X9 asks, but he has "re-inforced" his previously partially eaten asks at 102.89 & .99, as well as put some new ones. -- one as low as 102.59.
Wonder if hes going to pull all of the asks and market order buy?
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Interesting strategy by someone...
Currently has 24 x 125 ask "walls" [although this totals 3k!] on every 102.89 + 0.10 thru 105.29
5 popped up in the last few minutes, and a couple [I just realized this now] were eaten not to long ago -- but replaced.
I wonder how many coins this guy has, and the purpose?
Also holy crap @ chartbuddy depth view.. asks look terrifyingly steep.
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For all those watching Moody I have the 25.34449000 @ $100.50 here's to hoping!
Now both of our bids are there [and someone else], we can be bidbuddies (until I panic cancel it)! 185.3077 100.50 |
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Im going to pretend yesterday never happened, because it made absolutely no sense that bids and asks filled in quickly enough to hold off constant 4k-8k market orders in both directions..
CONSPIRACY!
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More simultaneous market order buy/sell retardation? Anyone catch how much was sold versus how much was bought of that 1k bump about a half hour ago?
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A lot of the support on $100 is simply being pulled. I think we might go thru it, but its best the walls are pulled and used to hold us up later on.
Another 1k market sell, 200 sell, and 100 sell... now 600 wall sitting on 101.53
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NP, thats what this thread is for  Why do you think its manipulation barbs, and what is the 105 dump you are referring to? It was weird, because this wall came up about an hour before it got pulled.. and it looked real. But then some small buys pushed us to 103.50 and it got pulled. It doesnt really make a lot of sense to pull it then and market sell, but I cant see that being labeled as manipulation. What kind of market watcher app do you mean? I use bitcoinum and set price alarms behind walls. |
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Regarding earlier today: http://btcbible.com/rumbles-detected-mt-gox/Rumbles Detected on Mt. Gox Published June 24, 2013 | By Dan Roseman UPDATE: Thanks to Redditor Anenome5 for pointing out that the volume far exceeded 30,000 bitcoins, as originally reported. It was closer to 80,000. BIG moves were detected on Mt. Gox less than an hour ago. A major surge of volume (around 30,000 80,000 bitcoins) exchanged hands in rapid succession, causing an almost instant price variation ranging between $100 to $109.4. Below is a 15-minute chart depicting the price action action: I wish Gox had something to say about it, like, "Oh, sorry guys - we accidentally simulated trades to test our engine on the live orderbook... reversing all trades for those effected." Now that would reaaally screw things up Also, 1k wall pulled from 103.76 and market sold.  |
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So, since checking the charts like 10 hrs ago... nothing has really happened? It looks like some sort of large sell happened a bit over an hour ago, but I dont see it in ChartBuddys post?
10.4k to 100, up from a low of 2.7k
13.3k to 110, up from a low of 1.5k
Bearish?
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ASICMiner shut off roughly 15 TH/s worth of mining equipment in the past 3 days. That is more than 10% of the world's hash power. That definitely had a big impact on it. I'm not sure why they did it by the way. It could be network or hardware problems, or maybe they don't want the difficulty to rise too much higher yet.
If this is true (and I have no clue if it is) I wonder if they're trying to work the difficulty in order to help those purchasing their USB Block Erupters. There's been a lot of controversy as to whether they would ever earn an ROI at the prices they were selling at so I could totally see ASICMINER trying to lame-duck the difficulty in order to protect the interests of those who bought their product. If this were the case, I would commend ASICMINER for looking out for their customers. Purely hypothetical, just an interesting thought. Losing out on $36000/day just to help a few people out? They'd have to really care about their customers for that. |
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We're gonna get an update from chart buddy in about 7 minutes, woohoo!
On a random note for those who use Clarkmoody - and use the sound ticker, what is your min volume? I usually pick 10. 100 is too rare and doesnt always happen in a smaller downtrend... but right now im using it and its doing fine.
10 would make it ding all the time, 100 makes dings meaningfull for me Yeah, 100 is definitely meaningful. But for me, 10 works well. A bunch of fast 10+ dings can let you catch action rather than see the aftermath in my experience. Also that news is very scary if true.... |
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We're gonna get an update from chart buddy in about 7 minutes, woohoo!
On a random note for those who use Clarkmoody - and use the sound ticker, what is your min volume? I usually pick 10. 100 is too rare and doesnt always happen in a smaller downtrend... but right now im using it and its doing fine.
Has there ever been a single 1k transaction? I know bitcoinity goes by the exact price, so 1000 1btc trades will show up as "1000 a few seconds ago" even if it was spread across hours.. but has there ever been a single 1k trade? I'd think so, but most seem in the high hundreds and split into small hundred chunks.
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