Last time we were around 600s, there were 15 million in loans. This time, it is 25 million. The longs are ballooning up without reason, and I sense another Bitcoinica.
This may be happening now. |
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This flash crash was completely engineered by the FUDsters
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... pile of crap ...
Love that you added that ghash.io link to your signature...master troll stroke.  |
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I wonder if the pause in purchasing is because of the govt sale... IIRC they had previously expressed interest in buying these coins so its quite possible that they got advance notice that a sale was imminent.
Best explanation I heard so far, but a month earlier? Who knows. Then again, they aren't guaranteed to get their fill at the auction, and I'm not sure they would wait this long to fill orders. |
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TL;DR dude sells coins because of some FUD he believed in. Peter Todd is a Bitcoin core developer. FUD = Facts U Dislike. Peter Todd is NOT a Bitcoin core developer. https://bitcoin.org/en/developmentFacts U Dislike Indeed, sorry about that. Just a regular Bitcoin developer, only gmaxwell is core. |
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TL;DR dude sells coins because of some FUD he believed in. Peter Todd is a Bitcoin core developer. FUD = Facts U Dislike. |
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This 'price moves on or is correlated to the news' mindset is some sort of old school wall-street-minded thinking which started up when all these 'wall-street' people and big experienced investors started getting involved with bitcoin - that is the only way they know how to think. They aren't familiar with this decentralized market structure with the predictable underlying technical forces that we are familiar with, lack of regulation/transparency, and gigantic chunks of the supply being held by irrational children.
A big part of deficit in the crypto world isn't only held back by irrational children. A very big part is held back as a rational plan by grey area players, who run the market. Most of the people underestimate those who actually run the exchanges. They rake in a lot of coins with fees, while their operating costs are quite low. But that's not it. They can earn even a bigger amount by playing the market with having access to information that isn't public. They have an detailed overview of their customers balances and they can even map their customers trading habits. If they are anywhere near being smart, then they are also sharing this information with each other and collaborate their trading actions. This consortium is probably the one who is mainly responsible for the artificial deficit created in the crypto world. This is probably illegal in every possible jurisdiction. Is it really? The exchanges aren't regulated by the financial authorities. Though even if it is, it's almost assuredly happening. |
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Last time we were around 600s, there were 15 million in loans. This time, it is 25 million. The longs are ballooning up without reason, and I sense another Bitcoinica.
Can't it be that Bitfinex is simply getting bigger and more popular? Like Bitstamp's orderbook was getting bigger pretty fast in the wake of Gox stumbling and failing? I remember that in the past Bitfinex was always out of USD to borrow, which prevented the loans to reach new ATHs then. Maybe they're growing out of that phase now as people are getting fed up of Stamp and don't trust BTC-e. Of course they are getting bigger and more popular, but at whose expense? As far as I see, Finex is likely supplanting Bitstamp more than BTC-e, and Bitstamp has never offered leverage. That's why I think this divergence is a potential ticking time bomb, it's converting a larger part of the market into flash crash prone margin traders with no real depth to back it up, same as happened with Bitcoinica as it grew. |
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Last time we were around 600s, there were 15 million in loans. This time, it is 25 million. The longs are ballooning up without reason, and I sense another Bitcoinica.
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All this dumping and the amount of longs on Bitfinex have increased! Just as I thought they would.
Are we supposed to take that as a good sign? |
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Tick tock, tick tock. They better hurry before they run out of coins to sell, as fresh fiat is rushing to the exchange as we speak.  Where do you see this? |
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we still dont know the reason for this perma market selling on stamp.
Must be Billy. |
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Bitstamp 631, Bitfinex 648, Huobi 648.
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Arbitrage bots keep a balance on multiple exchanges and rebalance once in a while. It's not a matter of withdrawal fees. It's a matter of too few people operating them with too little capital apparently.
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Where's the arbitrage? It's still middle of the week. It's ridiculous how inefficient this market is.
not worth it yet. Fees cost 2-3$ per btc on each of exchanges, and it's only 3-4$ difference. Arbitrage bots should keep such "minor" 2-3% differences in check easily enough. Where's the arbitrage? It's still middle of the week. It's ridiculous how inefficient this market is.
Probably bitcoins are bought in China and sold at Bitstamp. The same happened in January with MtGox. Some insiders expect PBoC FUD soon. It's been quiet for too long. That doesn't explain why Bitfinex is similarly high as Huobi. |
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Where's the arbitrage? It's still middle of the week. It's ridiculous how inefficient this market is.
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