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Shorts are the highest they've been for a while on Finex. Longs have come down a bit but still a large amount of borrowed USD.
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I suppose theoretically we should expect btc price to go up when the next halving took place. I mean the reward of solving a block is getting less, thus should indirectly reduces supply of new coins to the open market. I wonder....
1800 BTC a day less is very likely to cause a price increase. That coupled with the expectation of a price increase around the halving will likely make it a self fulfilling prophecy. |
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With all this big bear flags... I'm sorry but I can't be bullish about bitcoin price in the short/mid term. It is probably going to retest lower levels again.
Right now there is more downside potential than upside, unless an ETF hits the market.
I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point. However if your constantly watching charts and are ready to make a move when the market does then you can easily limit risks on both scenarios. |
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Here's the forum sections and what they will be 'worth' for posting in. This is relevant to the decided payout for your user group. As in if your a full member and your getting 0.0009 per post, 3 points will be 0.0009, 2 points will be 0.0006 and 1 point will be 0.0003.
Campaign is still not open yet, just letting everyone know the values of sections beforehand!
Hope that makes sense!
3 points
Gambling
2 points
Bitcoin Discussion
- Legal, Press, Meetups, Important Announcements
Development & Technical Discussion
- Alternative clients
Mining
- Mining support, Pools, Mining software (miners), Hardware, Mining speculation
Technical Support
Project Development
Economics
- Speculation
Marketplace
- Goods, Services, Currency exchange, Lending, Securities, Auctions, Service Announcements, Service Discussion, Securities
1 point
Altcoin Discussion
Announcements (Altcoins)
Mining (Altcoins)
- Pools (Altcoins)
Marketplace (Altcoins)
- Service Announcements (Altcoins), Service Discussion (Altcoins)
Meta
- New forum software, Bitcoin Wiki
Politics & Society
Beginners & Help
Off-topic
Archival
All Local Forums
Cheers stunna, looking forward to participating with this new system looks like it will reduce alot of the spam and prevent you from paying out hundreds of irrelevant posts hidden where no one else but post spammers reside. |
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Cheers for the new missives some steady progress and interesting new features.
I do wonder how many people will use the smart mining feature or how much of the network it would be if people were to use it. In my opinion even if most users ran it we could make up a few % of the network and make it more unprofitable for the botnet dumpers.
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Makes me laugh when people say buy is fake, obviously some people are capable of dumping 10-30k XMR at will.
Sure, but when they are 50k+ away from the market... And obviously moving on off up down the order books... The problem is fake is the wrong word as obviously if someone had the coin they could dump to a wall at 0.0007 but when the price is 0.0012 and there's 50K coins to 0.0007 its not very likely is it. The sole purpose being to make the bid depth look great and try and make poor traders buy before removing it. |
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The floor of XMR may be 0.001, look at poloniex buy walls  Yawn, why does everyone talk about buy walls like they are all genuine buys. The bids were going between 60 and 205 btc a few days ago including someone continually placing and removing a wall at 0.0007 for 75 btc. Does that mean anything in regards to the direction the price is going? Its been rinse and repeat for months. Buy walls go up price stagnates, walls get removed price crashes. I hope its "different this time" but I doubt it. That overstates "walls are not real" idea (often true) a bit. Several of the big XMR buy walls have been eaten not pulled. I agree over the last few months several walls have been eaten. However I disagree with that sentiment in regards to the last few weeks , after warz pulled his 0.0015 wall. Since then the order book has been jumping around massively with bids at prices that are never going to get hit just to make the bid depth look more inviting. People actually use that as a real trading indicator as can be seen by the poster I replied to and also several people in polo box. Im simply stating that its a terrible indicator and its boring to see people speak about it as a real speculative tool. |
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The floor of XMR may be 0.001, look at poloniex buy walls Yawn, why does everyone talk about buy walls like they are all genuine buys. The bids were going between 60 and 205 btc a few days ago including someone continually placing and removing a wall at 0.0007 for 75 btc. Does that mean anything in regards to the direction the price is going? Its been rinse and repeat for months. Buy walls go up price stagnates, walls get removed price crashes. I hope its "different this time" but I doubt it. |
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XMR is looking good, strong buy walls on Polo.
Buy Orders Total: 175.88276639 BTC
Price XMR BTC
0.00110001 30816.84313401 33.89883562
0.00110000 26845.81434381 29.53039578
...
0.00100000 10358.394565 10.35839457
...
0.00080000 21250 17
...
0.00060000 45000 27
Buy walls mean nothing particularly with xmr, the order book often jumps between ~70 and ~200 btc. I certainly wouldnt be making trades based on that. |
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I wonder why they would tweet this. If Pantera does get the bitcoins, this tweet would hurt them. The bitcoin price is likely to take a dive as a panic reaction. Why do I have the feeling that the next tweet is going to be: "Pantera did not get any coins". You can guess the outcome. True but at least Pantera aren't going to dump it on the market. The biggest worry for everyone is an unknown winning a lot of or all of the coins. If a group such as Pantera won even if they say they paid lower than market price the market is unlikely to have too much of an adverse reaction. |
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There's a fairly sizable hidden wall at $376 on Finex.
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I see the traders are acting like the usual morons again.
Bitcoin traders are some of the dumbest people on the internet.
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You should try it. The swap rate is very attractive. I'm only paying $0.25/day to borrow 50 coins. I can afford to wait and see how this plays out.
The swap rate is attractive, not quite as nice as watching that P/L $ figure sink $50 further into the red for every dollar the market climbs  |
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I did miss the runup, but I missed the crash back down also. Obviously I'll get another crack at it and so will everyone else who didn't fall for that bull trap.
Look, I'm still a long term bull, but You gotta admit that the near term momentum is down and this way I'll have more fiat to shore up support. What scares investers away (as opposed to traders) is volatility. We have failed to punish volatility sufficiently. To do that we need to sell when the price goes up as well as buy when it goes down.
Putting a personal spin on your point of view of selling high and defending the bottom, I sold a chunk during that run, not particularly close to the top but I put that fiat to good use defending sub $300, since then all Ive seen is higher lows and a feeling we have seen the bottom. In regards to this momentum I completely agree but expected nothing less in the middle of an auction for 50k coins, everyones just looking at each other to make a move. The fact that there was a big dump on stamp and it didn't send us tumbling down, to me demonstrates at least some confidence. I guess the issue really is that you see this as selling after the price has gone up but for me $275 to $375 over the course of two months doesn't fit into that category. I certainly dont feel the need to trade this super low volume which I view as due to the auction rather than any normal TA reasoning. Time will tell as always I just personally think its not a great spot to be selling or buying really for that matter. |
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Thats the most misleading article Ive ever seen. That's the total transaction volume across the whole of the network which != bitcoins spent. Particularly not spent in direct relation to black friday or cyper monday which the article is trying to suggest. |
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Six hour moving average just crossed. Even though I'm short, I really didn't expect it to go down so far so fast. I need a higher price so I can short some more.
So far so fast? Were $18 over the last five days. I used to enjoy your postings until you got crazy and missed the May run up. Sounds like much of the same talk now as then. Telling people they needed to sell now and help you defend the bottom etc. The fact that you think we need more people to loose money (the price going down) to attract new investors is just crazy. Investor - "That Bitcoin thing I was thinking about investing in just hit $100 down from an ATH of $1200, seems like a great investment to me" /s. Other than the fact your clearly trying to increase your stash I just don't understand where your coming from. The thing that worries me about hodlers (and I was one) is that you aren't going to have much money to help stop the crash because you didn't sell anything at the higher level.
The crash wouldn't even start if people didn't sell, hodlers selling to defend the bottom just increases the pace and depth of the drop (if there is one) scaring even more investors away. |
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Someone is playing with 300btc wall on finex, price has climbed to it twice now and he's moved it a dollar up.
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LOL, okay Citi says the coins are going to go for a steep discount, must sell all my coins, after all they are bitcoin experts  Which thought is correct? (a) They should go for somewhat of a discount because it's an auction, and they are buying in bulk. OR (b) They should go for a bit over the current price because one couldn't simply buy that large amount of coins regularly without causing major slippage. If you go back this thread in June you'll see this discussed over and over again. Im going to quote oda here rather than writing lots of stuff out I hope he doesn't mind but it should give you an idea of what likely happened last time and theres not much to suggest it should be different. Tim Draper is holding (so he says; although his coins moved recently, it seems). Given his experience (~33% paper loss so far), the next auction winner may be a speculator who buys substantially below market to sell right away, possibly on the markets.
People (the bearish side of the forum, I mean) said exactly the same thing last time. That'd it be turned into arb profit right away (which was and is plausible, of course. iirc correctly, there was even a lady from some bank registered that *did* specialize in arb ^_^). Didn't work out that way. We don't know the exact price that the lots took in last time, but probably neither drastically above nor below market. Not drastically below, because one guy got them all, not drastically above, because the premium to get them all in one, counter party risk free lot is there, but probably not so large that it warrants, say, doubling market price. All of the above holds this time again. Arb opportunity still exists, but requires getting the coins well below market. Will that happen? I strongly doubt it. Renewed volume across all exchanges, and several large buys of Secondmarket during the last weeks lead me to think the current price level is maybe not "stable" (nothing is ever stable in the banana republic of Bitcoin), but that it is at least as tempting to buy in at the current level than it was at the level during the previous auction, and probably more so. Not sure how you got from "two participants [going] on record [with] lowball offers" to anything meaningful. If offers were made @$100 or even $20 per, would the statements be any different?
Lowball offer based on market price means market price times some value < 1. The lower that value, the more arb profit. The closer that value to 1, the higher the chance you'll get a chance at arb profit. If you think they submitted a $20 offers, sure, go ahead. I sure would have liked to see the meeting the bank lady had with her superiors afterwards. What wraps it up is that one participant outbid all other participants on all lots. The previous auction converged around market price at the time, that's all I'm saying. I don't care if it was market +5% or market -5%, but my point is, from references to on-exchange market price plus auction mechanics and one winner of all lots, "near market" is a pretty conservative conclusion. Harping on about how it probably went away for a fraction sounds more like wishful thinking to me, tbh. |
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Their argument is that it's now $380 instead of $640?? Right, that's just fucking great logic. If anything that will trigger more players to bid higher then the market price now when they got a chance to get it cheap. Fucking broken logic, did a woman done came up with this? About the other 90k coins, we don't know what time these will go off on auction and the price could EASILY be more then $400 at that time Teh Bitcoin has been pumping all week in preparation for this auction. The bit powers that be don't want them auction coins going too cheap. This is my theory Volume tells the story. Price was drifting higher all week and may continue to do so, but without much enthusiasm. Volume has been tapering off. I'll consider myself lucky to get in a short position near $390 before the buying stops entirely. I'm happy the gov won't get much for their stolen coins. Volume's tapered off as people wait for the auction to pass. Completely expected. LOL, okay Citi says the coins are going to go for a steep discount, must sell all my coins, after all they are bitcoin experts Everyone says f**k the banks they're slime balls only out for profit and their own means and then pays attention to things that they say, tis funny. Market price is discount, where else can you buy 1000's of coins with no slippage, without having to send millions to an exchange in the middle of nowhere... |
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what a deja vu, the same questions and discussions like back in june Indeed, you could literally go back to this thread in June and all speculation regarding what will happen pre and post auction is there. Its like groundhog day |
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