I don't think he will let us down - not today.
His wall marks the three month log support line. If it holds the price might rise significantly again. And then he can start the game again at a higher level.
exactly On a natural (not Log-) scaled chart the 3 month support is around 4.80 USD to date and looks more stable to me. The Log scaled one has also been broken anyways. *too lazy to upload a graph* This one looks familiar?  https://bitcointalk.org/index.php?topic=61105.msg714791#msg714791 |
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WARNING, QUICK PAINT JOB AHEAD!!!   |
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Hmm, looks like the $5.4 wall is still holding.
I wish there was a way, or if someone can keep track of what walls disapear vs get sold into.
Bid 4.15 654.52
Bid 4.2 6600.52
Bid 4.25 457.79
Bid 4.3 1701.47
Bid 4.35 3461.87
Bid 4.4 4596.83
Bid 4.45 917.46
Bid 4.5 11060.92
Bid 4.55 1830.3
Bid 4.6 2791.11
Bid 4.65 6038.71
Bid 4.7 4330.89
Bid 4.75 1960.29
Bid 4.8 7583.75
Bid 4.85 2044.72
Bid 4.9 983.35
Bid 4.95 218.8
Bid 5 6161.26
Bid 5.05 1588.01
Bid 5.1 5683
Bid 5.15 242.86
Bid 5.2 13768.42
Bid 5.25 1561.58
Bid 5.3 2469.79
Bid 5.35 756.78
Bid 5.4 9943.22
Bid 5.45 34.11
Just look at the volume once we pass a wall. If there isn't much, it was taken down. If there's suddenly a 10k volume bar when the price passes it, you can bet that it got sold into  |
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 The long term uptrend (green line) is still intact with room to spare. With the red line at the 7.20-7.22 tops, it is possible to interpret this as a huge ascending triangle. Do you think a breakout might lead to a huge rally? I'm not sure. Let's just hope the uptrend holds |
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Thank you Paraipan. I am running it on a netbook and the progress bar was out of view- I see now that it is 27% complete.
Make sure you are running the 0.5.2 client. Older clients had a bug which slowed down the initial blockchain download by a LOT! |
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so what do you say, is it useful / interesting, should this go on bitcoinX ?
Definitely! Thanks for posting these! |
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Is this the start of something bigger?
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Source please? AFAIK every order is hedged, except for orders for which there is a counter-party on Bitcoinica, canceling each other out? Ok I wasn't clear above. +1 I couldn't have said it better, after Zhoutong openly admitting that he does not EXTERNALLY hedge every order I have cancelled all my business with him. Atm the only thing Bitcoinica is good for is a squeeze indicator. So if user A wants to short 50 BTC, while user B wants to long 50 BTC, you'd rather have: -Bitcoinica buys 50 BTC at Mtgox -Bitcoinica sells 50 BTC at Mtgox -Bitcoinica's net-gain: 0 BTC -User B now has a 50 BTC long position -User A now has a 50 BTC short position than -User B now has a 50 BTC long position (Traded internally with user A) -User A now has a 50 BTC short position (Traded internally with user B) Is that what you want? Don't you see the inefficiencies associated to the first approach? Bitcoinica will pay the spreads on Mtgox, a 0.25% fee over two 50 BTC trades and their net-gain will be 0, nada, zero. If Bitcoinica would use the first method they would either: -Make less money (Bad for them) -Charge higher spreads/fees (Bad for you) -Or a combination of the two above Can you give me one reason why you think the first approach is superior? A trade's a trade. No matter if done internally between two users or on Mtgox. Bitcoinica never trades with their users. They match trades done by different customers (In this case user A and user B) or they will trade on Mtgox on behalf of their customers (As a hedge, if they can't match an order by an opposing order from a different customer). This means that they aren't betting against their customers. |
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Yes, and this is what allows a whale to game the system hard. Because it's known when Bitcoinica is unbalanced. *?
Hey, I don't mind all that much, the whales aren't getting my Bitcoins or my fiat. I just thought it might be a concern for some if the market is so transparent to a whale. Wink +1 I couldn't have said it better, after Zhoutong openly admitting that he does not hedge every order I have cancelled all my business with him. Atm the only thing Bitcoinica is good for is a squeeze indicator. Source please? AFAIK every order is hedged, except for orders for which there is a counter-party on Bitcoinica, canceling each other out? |
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I am currently in a pool that doesn't mine namecoins
Is it possible to make the client mine bitcoins with the pool while simultaniously solo mining name coins (or conncting to a seperate namecoin pool)?
That's not possible. The pool supplies the block that needs to be hashed. In order to do merged mining, the header of the NMC block has to be included in that block for merged mining to be possible. so currently there are blocks in the bitcoin chain that include name coin information/transactions? namecoin and bitcoin use the same blockchain? No, they use separate blockchains. I'm not 100% sure how merged mining is done, but AFAIK the Bitcoin blockchain contains headers of the Namecoin blocks, but not the Namecoin blocks themselves. So the Bitcoin blockchain does not contain any information/transactions from the Namecoin network. |
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Just don't do that. It is speculation and it's a zero sum game whereas investing is not.
True, and because he's asking, he's probably not good enough to beat the market. But if he is good enough to have an edge on the market, he could consider doing it. |
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I am currently in a pool that doesn't mine namecoins
Is it possible to make the client mine bitcoins with the pool while simultaniously solo mining name coins (or conncting to a seperate namecoin pool)?
That's not possible. The pool supplies the block that needs to be hashed. In order to do merged mining, the header of the NMC block has to be included in that block for merged mining to be possible. |
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I started mining on my GPU a few days ago and transferred 0.1BTC to MTgox to play on the market.
tried short selling , and lost about 5% since the BTC went up.
Which got me thinking. I started mining because i believe that the value of BTC will go up with time.
If i were a trader that would mean I should buy BTC for a long term profit, but since i am a miner it basically means I dont need to do a thing - i am already getting BTC, and all i need to do for a profit is not to sell them - a.k.a. do nothing. this is kinda boring...
So, If i believe the value of BTC will go up, is there any sense for a miner to trade on MTgox at all?
Yes. If you think BTC is currently overvalued, you can sell and wait till it drops a bit, only to buy back more BTC. That way, even if in the longterm BTC goes up, you will have more BTC, thus more profit. |
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I thought that Zhou said that your deposits are NOT used to fund leverages. It is separate so that anyone could, at any time, withdraw what they have put in. I may be wrong - I can't seem to find his post that mentions that - but that is how I understood it.
That's not how it works I think. When they had the no reserve situation before they had the * red flag, nobody could withdraw any USD either. They did fix this problem though. They prevent new long positions way before they run out of USD, so that there's still enough USD left for shorties to liquidate and for people to cash out USD. Zhoutong, please correct me if I'm wrong. |
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Whoever the manipulator is has at least $500k USD + 100k btc. Which do you think is more likely: someone depositing $1M into MtGox to play in a highly risky market like this, or someone that got 200k btc back when they were $0.01 each = $2k investment, and are toying with the market willy-nilly? I surmise the latter is more probable.
KnightMB is an obvious suspect, with a claimed 370k btc, and his apparent lack of morality in securing his bitcoins from his former employer leads me to believe he'd also be fine with jerking the market around for his own gain.
Most early adopters are geeks though. They won't have the know-how nor the guts to play the market with these huge sums of money and BTC to manipulate the market in a way which earns them money. I just can't see that happening to be honest. |
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Damn, I'm sorry to hear that. I don't think it's an early adapter, though. Most likely a person with deep pockets who entered the game months ago and is here only for his personal gains by speculating and manipulation. Too bad  I believe it's someone that picked up a shit-ton of coins when the Mt Gox hack happened. ohhh. that's very possible... I hear they withdrew 100k BTC. AFAIK they couldn't withdraw that much, because there was a 1k USD withdraw limit. And they used the BTC weighted average price to determine how many BTC equals 1000$. It was only a couple of thousand max I think. Can't remember it that well, though. It's been a long time. (In Bitcoin time that is :p) |
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Damn, I'm sorry to hear that. I don't think it's an early adapter, though. Most likely a person with deep pockets who entered the game months ago and is here only for his personal gains by speculating and manipulation. Too bad |
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