Total sum of active swaps 26,134,755.35 USD

Don't those maniacs on Bitfinex ever decrease their margin positions, or do they just wait until they get liquidated? It's like a ticking time bomb.

I do not understand why this Silk Road auction is viewed as so important. 30k is barely more than a week (maybe even less, factoring in the increasing hashrates) of miner generated coins.

The only reason I can think of is that it's to be some sort of barometer on how over or undervalued we are, but I don't think it would be a useful one either way. For HNWs who don't want to deal with the exchanges, there is already SecondMarket, and we can see how much is bought there. And really, if they cannot gather any more coins from larger OTC miners/sellers, we probably would have noticed after some time. Regardless of how crooked the exchanges are, given some time and collectively, I do believe they are representative of supply and demand and interact with OTC.

So my guess is there's just nothing else big happening and people are looking for some meaning to the price movements again.


Which trendline, the one from 340 (Bitstamp)?

Hardly a long-term trendline I'd say, more medium term.

This is just untrue. Only recently have I made a bullish case based on my technical analysis here and here for instance.

I'll admit that I have a natural tendency to be more on the bearish/cautious side with Bitcoin especially with regard to my posts here, and this is attributed to three factors:

1) Humans have an aversion to losses that is psychologically greater than the reward from equal wins
2) Bitcoin has brief trending periods in which it trends strongly to the upside followed by long counter trend periods where it declines or does not do much of anything
3) There is plenty of bullish commentary at almost all times, and thus I simply do not feel the need to rehearse all that

I rarely ever defend myself and I won't continue to do so further (just send me a PM if you want to talk), but this sort of knee-jerk reaction is something I see happening not only with myself but also other mentally similar and outspoken traders like oda.krell and TERA constantly, and perhaps this will explain at least my side better.

PS: Have you ever noticed that trader almost sounds like traitor? Think on it.

True enough. It may have lead to a dampening effect on the highs I see, but it hasn't really pushed the lows, which is what I was looking at.

Bitcoin has already made me wealthy and I would like to stay wealthy, thus I try keep my mind agile and free from cultists' poisonous thoughts who only seek to become like me because they came (much) later, and are intellectually dishonest about Bitcoin.

It would be good for your character if you stopped accusing anyone with an opinion to your disliking, and if you were to be more open to arguments. But unfortunately, that seems to be the modus operandi for many here. False accusations with nothing backing them up.

Oh, and just because I'm a moderator doesn't mean I don't get to have opinions dissident from some of you guys.

It does speak of certain irony of course to have shroomsy, someone who is non stop crying over the market, call anyone butthurt.

Given that Bitfinex has decided to insure the entirety of its lenders (going so far as to rather make traders pay by canceling their trades in extreme situations), shouldn't it be the case that interest rates ought to have decreased? It seems to me that that's one big risk factor gone for everybody. Maybe it was indeed? I haven't been watching.

Edit: It just occured to me that this is easy to pin down. On their announcement page, the date is 16th March, and we can look at http://www.bfxdata.com/ to track interest rates over time. I don't see any discernible effect attributable to it since then.

More interesting, actually new stuff: http://www.businessinsider.com/tim-swanson-on-bitcoin-economy-2014-6

Some points I found stupid (particularly the comparison with credit cards), but most of it was quite good.

Finally I have found this article embodied in a gif.

Which is more pathetic:

1) People conducting their individual risk management/business and trading accordingly on the open market
2) People getting mad at 1) when they don't like what they are doing, fantasizing allegations and accusations

?

I wouldn't trust BitcoinWisdom's ticker, I recall seeing glitches there before. It would be easy enough to prove/disprove this with another source. I'll try and see if I can get a ticker chart elsewhere.

BTW, If there's one mishap that Bitfinex are certain to have made, I agree it is revealing your balance. That's just unacceptable, even if you did do them injustice calling them scammers.

Does anyone have an actual historical ticker source for Bitfinex to look at? We can easily find out whether or not there were trades at 602 etc. on the way to 608.

I'm looking at the 1 minute chart from BitcoinWisdom, and the candle ranges from 599.4 to 608.13 with a volume of 577 BTC, and my guess would be it's simply a large market order that went off. Then, this market order could have triggered stops set below your 600, and indeed bots could have withdrawn within this minute to decrease liquidity further. If this happened to me, I wouldn't have been suspicious. Not to say that nothing here is wrong, but I just wouldn't suspect any foul play here.

This is just the nature of the illiquidity of the Bitcoin market. Bitfinex is only special in that it allows stops in the first place. It was the same deal with Bitcoinica back in 2011, your stops would always get bad fills.

He won't find such a quote from either of us, but I guarantee you he will continue to spread his falsehoods. That is why he is the troll.

Please stop quoting the shroom troll.

The real weak hands are those who fantasize about some imminent 10k bubble looking at retarded exp log chart trendlines and then dump when inevitably it becomes blatantly obvious that their inflated expectations were wrong.

Updated and revised the order, thanks for the suggestions. I tried to order it by having the more general use stuff higher up, and then by popularity.

I'm not including exchanges or apps yet, but I may do so in the future; just not entirely sure whether it is a good idea in principle.

I'll also eventually look through the whole thread and probably add some more.

I do not like = It must be less real.

Stop trying to see the world as it is and begin building your own fantasy land.

If you cannot decide on your own what to do or whom to follow, then do nothing. Presumably there is a reason that you bought BTC. If it still exists, hold. If it doesn't or never did, sell.

I'm almost sure you are referring in part to me, tarmi, but I not even bearish as yet. Do you understand that one can have a neutral position, or even an invested position and still be aware of some contrary evidence in preparation for the future? This would then be mounting cognitive dissonance, and if it gets too much, one should change his position.

I think free publicity makes lots of sense, since the media are reporting it. Even if they get no bidders or low bidders, they will have gotten some press.

What I also do not understand is, what exactly is the service they are providing to skim off 5%? Someone who can afford a 3k BTC block likely has 200k USD liquid. Maybe interesting for people outside of the US?

Can anyone explain to me where on earth SecondMarket expects bidders to turn up from, and why on earth people are expecting a premium? In over 1.5 months now, they have managed only to acquire interest for barely 1k BTC for their fund. It has come to a near standstill. See: https://bitcointalk.org/index.php?topic=337486.0

SecondMarket need to do some more shilling to gather interest. Unfortunately, the "Wall Street is coming ANYTIME now! BUY MY FUND GUISE!" is getting old.

Hardly ever (maybe not ever?) seen someone here proudly proclaim they ignored someone because he was being bullish all the time, or for being a bull troll.

Point is, so many times it's not a crap filter, it's an opinion filter. You blend out what you dislike until all that remains is an echo chamber, a perverse distortion of an already biased place.

People are free to do so, but they should realize that in the long run, they will only hurt themselves because exposure to contrary positions are important for one's emotional, intellectual and financial health.

I have hardly anyone on ignore except for a few who write walls of text meaning nothing, where I regret having wasted my time reading it. I prefer reality unadulterated.