so uhhh who sold below 1000$?  *raises hand* Me too - cashed 20% of the lot out at 979 (I went out and left some trades on Gox) With all that's been going on - I thought if orders filled, by the time I came back it would be dropping back again. I am a bull - but the pattern has been a yoyo for some time - so it remains to be seen if that was smart or stupid. 24 hours is a long time in Bitcoin, right? Long term is up, but meanwhile..... I have set my buys up, we shall see... |
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The price on Gox was specifically attacked over Sunday by a bear or bears to try and hoover up cheap coins before this week's trading.
It was aimed at thin volume markets and weak hands.
I am guessing the trade did not work - at least not entirely, judging by what loaded said - it seems some stashes were big enough to defeat the main aim of the bearish whale.
The fundamentals are sound (better then ever in terms of sentiment and 'adoption') so the news in China seemed a good moment to hit a weak market. The fact that the news was not really bad, but made China a little nervy was good timing in some respects - but I think the line held and Bitcoin has proved more resilient than expected.
Huge volumes did not smash BTC down to sub 500 as 'may' have been expected - we could all see the big sales and then walls popping up - but the ability to buy low was not really enough as major buying back was not possible without buying back the whales own wall - I don't think the profit was really there.
There has been manipulation to keep all exchanges (except China) to remarkably close prices too - but all of this appears to have failed and a shift to a market price of 800+ plus seems to have won over.
For me this was a giant fail - and it had to work before Monday morning European time to succeed.
I suspect the whale has Gox bux now as focus was on Gox.
Bitcoin won the day - it will not be the last battle, but it was a significant one and may have taught some bears a lesson.
I actually think if rpietila takes the 10BTC bet - he will lose it.
'That which does not kill me, makes me strong'
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We're all gonna die! On another note, I chopped down a tree this morning, well chainsawed it anyway. Was indeed fun. I don't think a lot of those that expect a crash greater than 61.8% understand the sheer amount of money that was and is still coming in. Over 225 Million dollars has changed hands in the last three days alone, just on Mt. Gox along with 2.25 Billion Yuan (~367,000,000 USD) on BTC China.
That is er... quite a lot! |
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All three exchanges still trading real close....
2 bucks between them as I type, it's not coincidence - been like that for hours now - I think it went $12 at most even when it was doing a yoyo earlier...
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Wow, you can tell by the postings that already so many have sold below their buy, the secret is to either hold or know you can close a short before you open it. Just because 100 other people who have no reason to want to profit off of your loss tell you that 100$ BTCs are right around the corner, you get blinded by greed. This party is just getting started, going to be legendary and define the past blips in the radar.
Agreed and back from the party, had some nice drinks and girls company and i thought we were goin to be at the 500s, So Awesome guys for keeping it above 700s XD u rock, i can sleep for a while to get sober and be back later, now pls get it to the 800s and ill be more than happy lol I changed my mind. BTC is doomed. +1 |
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Well I found a filipina friend who lives between singapore and philippinnes so not everyone is like that or needs your money. There are a lot of poor people too that westerners pray on. Filipinas are more loving than western women, western women go for men with money, muscles and looks and rarely personality. Hence why i've not found anyone  guess you shouldn't generalise but my Uncle married one, she was obsessed with $ and left him cos his investments didn't turn out well.. other filipinas at work kept trying to hook people up to get their friends and relatives into australia - one old guy bought in, practically got married before they met.. it's quite blatant but I suppose marriages of convenience work for some. The way I see it though at age 31 in the uk i've never had a british relationship (I had a 2 week date with a latina girl she was confused about whether she liked girls or boys, after then later inviting me to usa with her to do flight training she actually liked girls and i met her american girlfriend over there and stayed there with her for 4 months so i know it was true love for them.) I've had a 4 day date with a latvian girl living in liverpool, we went latvia ice skating. I then met a filipina girl on facebook living in singapore with her cousin. I went singapore and we did fun things like the zoo. We're still friends, shes gone back to manila to work. She's not looking for love with me or anything So that's why i'm happy going to manila again I know there's people that need money. I wouldn't go for the ones that are too obvious. I'll be better out there finding 2 weeks of love than dieing without ever having anyone by living in the uk. Asians like Sweet guys, UK's like hot guys. I'm the sweet guy type lol Sorry - but I have to ask..... Do all sweet guys have links to selling porn in their mail signatures? You're a girl aren't you? Why can't a kind person do topless models as a job? It pays the bills. And even if I actually did get off on it, why would that make me an unkind unsweet person? I'm still friendly to everyone. No, I am not a girl. So what's my link got to do with sweetness? How is it linked to the lack of it? I think this conversation is over. Sorry - but the details of your lifestyle are really not something I want to discuss. It's a Bitcoin forum. |
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Well I found a filipina friend who lives between singapore and philippinnes so not everyone is like that or needs your money. There are a lot of poor people too that westerners pray on. Filipinas are more loving than western women, western women go for men with money, muscles and looks and rarely personality. Hence why i've not found anyone guess you shouldn't generalise but my Uncle married one, she was obsessed with $ and left him cos his investments didn't turn out well.. other filipinas at work kept trying to hook people up to get their friends and relatives into australia - one old guy bought in, practically got married before they met.. it's quite blatant but I suppose marriages of convenience work for some. The way I see it though at age 31 in the uk i've never had a british relationship (I had a 2 week date with a latina girl she was confused about whether she liked girls or boys, after then later inviting me to usa with her to do flight training she actually liked girls and i met her american girlfriend over there and stayed there with her for 4 months so i know it was true love for them.) I've had a 4 day date with a latvian girl living in liverpool, we went latvia ice skating. I then met a filipina girl on facebook living in singapore with her cousin. I went singapore and we did fun things like the zoo. We're still friends, shes gone back to manila to work. She's not looking for love with me or anything So that's why i'm happy going to manila again I know there's people that need money. I wouldn't go for the ones that are too obvious. I'll be better out there finding 2 weeks of love than dieing without ever having anyone by living in the uk. Asians like Sweet guys, UK's like hot guys. I'm the sweet guy type lol Sorry - but I have to ask..... Do all sweet guys have links to selling porn in their mail signatures? You're a girl aren't you? Why can't a kind person do topless models as a job? It pays the bills. And even if I actually did get off on it, why would that make me an unkind unsweet person? I'm still friendly to everyone. No, I am not a girl. |
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Well I found a filipina friend who lives between singapore and philippinnes so not everyone is like that or needs your money. There are a lot of poor people too that westerners pray on. Filipinas are more loving than western women, western women go for men with money, muscles and looks and rarely personality. Hence why i've not found anyone guess you shouldn't generalise but my Uncle married one, she was obsessed with $ and left him cos his investments didn't turn out well.. other filipinas at work kept trying to hook people up to get their friends and relatives into australia - one old guy bought in, practically got married before they met.. it's quite blatant but I suppose marriages of convenience work for some. The way I see it though at age 31 in the uk i've never had a british relationship (I had a 2 week date with a latina girl she was confused about whether she liked girls or boys, after then later inviting me to usa with her to do flight training she actually liked girls and i met her american girlfriend over there and stayed there with her for 4 months so i know it was true love for them.) I've had a 4 day date with a latvian girl living in liverpool, we went latvia ice skating. I then met a filipina girl on facebook living in singapore with her cousin. I went singapore and we did fun things like the zoo. We're still friends, shes gone back to manila to work. She's not looking for love with me or anything So that's why i'm happy going to manila again I know there's people that need money. I wouldn't go for the ones that are too obvious. I'll be better out there finding 2 weeks of love than dieing without ever having anyone by living in the uk. Asians like Sweet guys, UK's like hot guys. I'm the sweet guy type lol Sorry - but I have to ask..... Do all sweet guys have links to selling porn in their mail signatures? |
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To be more positive - if 'that which does not kill us, makes us strong'
Then we have now proved this - so a bull market MUST now return.
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The 'Chinese Scare' was actually good news guys.
It doesn't feel like it did us much good right now, though! A few days ago I was sure we would take Gold and then rise to, oooh, y'know 1300 up to 1500 range. Since then we have dipped below 600 and can't seem to stay over 700. I have spent all my fiat buying at what seems to be amazing prices compared to a even a week ago. Good news would be stability over 800 right now - I would settle for that! Yes it was surely breaking 1250 and having another leg up with with a solid correction behind it, before the news. It is very interesting to see how bubble pop dynamics are precisely played out on the chart when the event was actually news driven. I would never have said we were in the "bubble phase" of the rally yet because there were healthy corrections. I think we were kinda bubbly, but I was also expecting another leg up (which is why I didn't sell for incoming correction/crash-trading). Probably the uncertainty of what the China news meant was enough to drive people to profit-taking. I thought also that we have fuel left and that with this weird "crash" has risen the possibility in my mind that this necessarily isn't a start for bear market, despite the fact that important supports were broken. Lets see next few days. Exciting times. My Position is mostly BTC, but I have USD too. My frustration is purely that the indicators have not warranted the carnage we have seen, I am concerned we are being manipulated by people who don't give a damn about Bitcoin, just easy pickings... There has been no real reason for the drop I can make sense of if Bitcoin has a future. If it didn't we would be WAY lower, but why the timidity with all the news being so positive? |
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Long term - it's a cert. So, I think I will take next week off and see if I can ignore the screen for a bit.* Then I can pop back and it will all have changed and the bears will be back in their caves, licking their wounds and panic-buying to to get their goxbux out. *I doubt I will have this much willpower |
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What's great is that Gox whale's can only manipulate us for so long, you can almost see the arrogance... It seems BTC-E and BTCChina are about to lead the recovery.
The news has been great so far, we just had a 500$+ drop, over the weekend when there's no money coming in, I'm not sure what more you guys are looking for.
If we go down from here, buy more, but I doubt it.
Just remember most people on here have an agenda. Fact is there has been great news for weeks, there is plenty of money on the sidelines who sees a 500$ discount in front of them, and lol fiat is still trapped on gox.
+1 |
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I am all BTC - so full-on bull - and thanks for the reminder that any bears are trapped in fiat. Just bored of the 700 loop when the news has been largely excellent... I have traded the ups and downs - but I have not taken huge pleasure in my gains. I just haven't seen a good choo choo train for a fair while! (he said, sulking)  |
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The 'Chinese Scare' was actually good news guys.
It doesn't feel like it did us much good right now, though! A few days ago I was sure we would take Gold and then rise to, oooh, y'know 1300 up to 1500 range. Since then we have dipped below 600 and can't seem to stay over 700. I have spent all my fiat buying at what seems to be amazing prices compared to a even a week ago. Good news would be stability over 800 right now - I would settle for that! |
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stamp 730
gox 733
btce 734
And it was 'normally' easily 10% between Stamp and Gox, and no-one really thought that unusual, right? Now it has been less than 1.5 % for some time. Must be by design and may explain the hammering down of the Gox price to start the bot engine off... Only a theory, and they coudl all diverge in 10 minutes, but it just looks like they are much more closely linked now. And it's Sunday - a good time withthin trading to start up, meaning you play the spread properly when the pro money kicks off on Monday having tested it out...? Hmm.... EDIT: more like under 1.5% sorry |
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nice answers, ty for that! my opinion on rptiela is the same as rampion, he's talking big and posts nice stuff but he sucks at trading Hey - if you did wrote and 'arb-bot' would you have to accept the first thing that would happen upon launching it be a selling down of the higher exchange - an automatic reduction of the spread?
Just a kooky theory?
I'd say yes but you would need ultra deep pockets, the "normal" spread between btce and gox was always 100 USD so if you'd turn on an arb bot all the other people and bots would still trade with the $100 spread in mind so if you buy on btce to sell on gox someone else might sell on gox before you have the chance to profit.. the only way to counter this is either by DDOS or by buying/selling enough to close the spread but it would only last temporary before reverting back to the "normal" $100.. now the strange thing is it's not reverting at all, the only explanation I have is that someone is catching all the other trades until they run out of money to recreate the spread.. but that's insane isn't it? Yes - except the tight spread is continuing - it may not hold if a huge buy / sell comes in - but this has been too close for too long to be a coincidence - or am I insane? |
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Hey - if you did wrote and 'arb-bot' would you have to accept the first thing that would happen upon launching it be a selling down of the higher exchange - an automatic reduction of the spread?
Just a kooky theory?
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Maybe someone implemented a bot to do this, and it is helping to reduce the spreads?
This would make sense, yep - and it would be worth creating it, we have all see stupid spreads and not been able to practically arb them. |
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There were some (actually achievable - ie not requiring moving fiat around) arbitrage opportunities available during the last few weeks based on the crazy spreads between exchanges. The combination of the following three phenomenon was the most interesting. These have all ended or lessened. - Bitfinex would typically run out of USD on Bitstamp, meaning that BFX users no longer had access to BTSTMP ask book (but could still sell into Bitstamp). This always led to BFX price being higher than BSTMP, and sometimes even led to it being higher than the Gox price - sometimes by as much as 5%!
- Insane Goxbux premiums - there were times when Gox price was more than 20% higher than Bitstamp
- As we have seen, at other times the spread would reduce back to nothing, or even (very ocassionally) invert so BTSMP was above Gox! Part of this was that there was a ton more volatility on Gox that was smoothed or just ignored on Bitstamp.
When we were above 1100, there were moves of >100 bucks on Gox that seemed to reek of manipulation, and I think Bitstampers got sick of responding to them, hence the 'smoothing' of these up-one-minute-down-the-next jumps. All this made an arb strategy possible where: - You keep a float, ideally of both BTC and fiat, on 2 or more exchanges.
- When Gox (or BFX) premium gets very high, sell BTC on GOX and simultaneously buy on BFX/Bitstamp. You now have the same amount of BTC, and more fiat.
- When the spread reduces or inverts, you use the fiat you have on Gox from the past sale to buy BTC, and simultaneously sell BTC on the other exchange
- Transfer BTC between exchanges to maintain floats if they get out of whack.
Maybe someone implemented a bot to do this, and it is helping to reduce the spreads? Also, there were incredible arb opportunities for a while based on the BTCChina premium, but this assumed you can get the CNY out of the country! I agree on the strategy - but I just could not see the trading which would have made this sensible showing up simultaneously on the other exchanges -as you would have expected. Am still clutching at straws, but I refuse to believe anyone playing with a thousand BTC + is an idiot with no agenda |
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Fiatleak shows money going in - not trade, I think...
Fiatleak counts market orders on exchanges (because that's the only publicly available information) and then in an act of utter stupidity interprets that as money going "in" or "out" which is complete nonsense. It is a hint of activity, that is all. When it goes over 10,000 BTC /hr worldwide things tend to get interesting - but basically, I agree it is not really a good trade indicator other than 'money flying around' |
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