The hidden buy orders on bitfinex keep flashing on bitcoinity.org…. There is a ton of buys on that exchange! Well over 20K coins to break 600 shows through every now and then.
is that on the 10 minute depth chart ... ? i am watching it and not seeing it ... It won't show up on the change bars. It will just show the walls almost double for a few seconds, then go away. It could have been someone adjusting their order and forgot to hide them, but that would be a lot of buying power for one person. I haven't seen it since I posted. Ill try to catch it on a screen shot as I watch all exchanges over 10 hours a day. |
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The hidden buy orders on bitfinex keep flashing on bitcoinity.org…. There is a ton of buys on that exchange! Well over 20K coins to break 600 shows through every now and then.
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Shit this is that classic thread that indicates a floor has been hit. i was really hoping for cheaper coins.
+1 |
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Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?
I'm no pro but… I think we are at the top of a bounce from the crash. So a slow decline, maybe 50-75USD over the next 24-48 hours as speculators wait to see the full affect of public perception of this news before making big moves. But by the end of the week bitstamp should be back around 800, gox 680. |
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So let me get this straight...
Go long --> crash down due to domino effect of longs closing --> saved by roll back of trades
Go short --> crash down due to domino effect of longs closing --> lose by roll back of trades (not able to close position at a profit)
Go long --> crash up due to domino effect of shorts closing --> lose by roll back of trades? Will you roll back trades in this instance?
Go short --> crash up due to domino effect of shorts closing --> saved by roll back of trades? Will you roll back trades in this instance?
So we are paying you for a service that if I wanted to profit during a crash, would be impossible?
You say you roll back trades due to lenders losing money, but I've asked multiple times how can lenders loose if positions are forced closed before the possibility of lenders loosing, with no answer.
Who cares if the price goes to zero, some people get cheap coins, lenders don't lose a thing, and the next trade after zero can be any number, possibly only a penny less than before the domino effect began.
I lost money last night because ___________?
If you can give me a legit answer to my last question, which defies everything said in this entire post, then I will give up. If not, give me my profit I should have earned. Pretty simple deal if you ask me.
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Might as well shotr at 709
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I'd just like to point out that if we did not have stopped the trading engine, the cascading effect of liquidations would have been terrible (just look at the charts already).
So we DID make the right choice in halting the trading engine to avoid this situation.
One day the Bitcoin market will become mature enough to support this level of volume, right now it isn't;
THanks for your comprehension
Raphael
So why didn't Bitstamp go down? It was up the entire time that you "halted" trading (without warning). It's not the Bitcoin market that isn't "mature" enough...it is Bitfinex that is immature. Bitstamp is not a margin trading website, they don't have liquidations /margin calls, and don't care if the price goes to 0 because they don't lose anything. On Bitfinex on the other hand, there are leveraged positions, and liquidations triggered can and have a cascading effect on a very volatile market, and if there is not enough volume to support it, we CAN take the price to 0 and lose millions of lenders money Halting the trading engine is maybe annoying, but it's the right thing to do (and I must say it happens on all sort of market). Thank you Raphael How do lenders lose money if the people they are lending to's position automatically closes BEFORE they can no longer repay the lender? |
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It is not their servers. THEY decided to halt trading. THEY made the wrong decision. THEY made people like you and me lose money.
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Bitfinex,
When closing a short, I would not expect you need bitcoins for that because you are buying them back. Why did trading for the short positions not continue? No fiat money available at bitstamp/bfx? From what I read, most people lost because the couldn't close their short..
+1 And how exactly would lenders lose money from the situation you "halted"? |
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So much fail at bitfinex!
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Guys, they do not care how much you lost! They are making millions, why would they care if the service you pay for fails? It's not like you can do anything about it!
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Freaking can not close a short position when the market is tanking WTF....
Welcome to the club. Meanwhile Raphy and G are busy arbing between bitfinex and bitstamp, instead of fixing this shit. |
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Worse than Gox over at BFX. Costing me money they will not make right!
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Sorry guys... nobody is working right now. It won't happen again lol
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If 550 breaks on Stamp, I am not sure how low it will go.
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STAMP 600 WALL DOWN IN 3...2...
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Do you want the FUD version, or the truth?? http://www.reddit.com/r/Bitcoin/comments/1x93tf/some_irc_chatter_about_what_is_going_on_at_mtgox/cf99yacGox uses custom software for it'S wallets. It's just that they made a mess of implementing it. I am not personally concerned— at least not by any of the details here. MtGox's slow speed at resolving these sorts of issues and poor communications are not terribly inspiring. They seem to be horribly short staffed— but competent and trustworthy people in this space may be hard to find: The regulatory morass of that business is sure to make many steer clear. The claims that the delays indicate insolvency strike me as just hysteria: the technical background doesn't support this conclusion, and there may be a bit of opportunism at play from people who want to manipulate the market too. Don't get me wrong: I have not seen their books: Gox may well have financial problems— though with their income its hard for me to see how— but if any problems like that exist they're not being indicated here. Of course, none of this suggests anyone should be happy with the service MtGox has been providing, but our anger should at least be well informed. Perception is the only thing that matters in the bitcoinosphere |
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650 STAMP WALL DOWN... NEXT STOP 600
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