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1  Bitcoin / Bitcoin Discussion / Re: Coinbase banned Germany & Luxembourg on: July 07, 2016, 10:49:43 PM
Nobody is banning anything in Germany.

With bitcoin.de there's at least one completely regulated exchange in Germany where users can even connect their account to an official German bank, albeit a small one. Additionally, people have already pointed out that Bitstamp is licensed in 28 EU member states through Luxembourg, thereby making it entirely regulated in Germany as well.

This is just a Coinbase move who apparently didn't have a license to operate in Germany in the first place.
2  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 18, 2016, 12:45:57 AM

There is not a lot of visible buy support and it could potentially flash crash on a low volume,  unless there are a lot of hidden orders.  However,  lately these books aren't nearly as reliable as they used to be and only serve as a partial indicator.

Watch out - order books are just about the most unrealiable indicator known to man for guaging demand.

Here's how they work:

[1] - if the market thinks the price is going to rise (doesn't have to be bullish sentiment, just expecting a rise)

Then the bids will thin out and the asks will thicken. This is because real demand goes off-order-book since nobody wants to push the price up more than they have to by placing orders so buyers stay hidden since they are not confident of having their orders filled below the spread gap.

Meanwhile, sellers DO place their orders at a measured distance above the spread gap so that they catch any spikes which lets them instantly cycle back into the market minutes later having accumulated at the back end of the spike.

[2] - if the market thinks the price is going to fall

Then exactly the opposite happens. The bids fill up and the asks thin out because fear has set in and sellers are nervous of placing orders that chase away precious liquidity, so sellers stay off-order-book this time. Meanwhile, large bids get placed a reasonable distance below the spread gap to catch any major dumps. Those large bids are not from people wanting to buy into the market (i.e. they are not genuine demand). They are "quick buck" operators who will immediately sell into the rise that follows the spikey plunge.

If the order book is balance, then the market is neutral in terms of expectation.

You can see this in realtime on Huobi in Bitcoinwisdom. As soon as the slightest small bull rally takes off, massive asks get instantly placed at intervals above the price, even though the price is rising. Then they get pulled just as the price approaches when there's no longer enough of a spread gap to turn the trade around and get back in with an accumulation.

So don't think for a minute that because there's a lot of bids that means there's a lot of demand or because there's a lot if asks there's a lot of bears. It's more likely that the exact opposite applies.


Thank you for this. Enlightening stuff!  Kiss
3  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 28, 2013, 12:02:50 PM
Humans are a strange sort.

Barely buying all the way up to $1000. Then plowing through a 2500 wall in minutes once they are there. WTF?

obv 4 the lulz Wink
4  Economy / Speculation / Re: Taking a loan to buy bitcoin on: November 28, 2013, 08:26:29 AM
... but I couldn't find a fucking place to buy LTC in europe that didn't need for you to present bill proof evidence, and I cant do that because im a poor NEET failure that lives with its parents).
fuck my life

also don't worry too hard about that. I had around 4000 litecoin from back in the day, acquired at around $0.02 each. I traded em for a few BTC some months back. Would be worth over 100k today. Whoops.

haha, nice one. that's the spirit! Grin
5  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 27, 2013, 03:24:11 PM
Watching that wall being smashed real time was like seeing a _huge_ boot kicking the door open.
Priceless.
(screenshots @ 999, 999.90, 1000, 1010, 1020, 1030) Smiley

We need our animated gifs back. This forum is just not the same without them.

Yea, just realised they ain't working in another thread. What's up with that?
6  Economy / Speculation / Re: Accumulating coins on: November 27, 2013, 03:18:54 PM
I quit smoking cigarettes, and buy coins instead.

Excellent attitude! Round of applause just for you.



7  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 27, 2013, 02:57:05 PM
History in the making! Hello mom! Cheesy
8  Economy / Exchanges / Re: Bitstamp VS MTGox on: November 20, 2013, 03:36:50 PM
If I were you, I would definitely wait with a decision.

As pointed out Mt. Gox is quite a fail when it comes to withdrawals, which is basically unacceptable. Not sure if those withdrawal issues only affect fiat or also Bitcoin withdrawals. I think if your plan is to buy and hold and there are no issues when it comes to coin withdrawals at Gox, then you can go for it. If you plan to get fiat out again in the near future, you obviously should look somewhere else.

However, Bitstamp is currently also going down the drain. Massive lags for 24 hours, deposits are not being credited to accounts since last week although they've reached their bank and since these issues emerged there was just one vague statement from them on Monday, complete silence from that point onwards though shit got worse and worse.

So yea, I think both exchanges are having severe issues and wouldn't really recommend either of them, that's the sad truth.

Edit: The minute I wrote this, Stampman decided to give a life sign, stating the deposit issue has been resolved (https://bitcointalk.org/index.php?topic=38711.msg3652288#msg3652288). Can't confirm yet because I'm still waiting for my tranfers from last week. I'll update if that changes.
9  Economy / Exchanges / Re: www.BITSTAMP.net Bitcoin exchange site for USD/BTC on: November 20, 2013, 02:53:11 PM
Still SEPA transfer in limbo, so much for "We expect this issue to be solved and be resolved tomorrow or the next day".

Oh, and thanks a lot for the transparency and open communication!!! FUCKING A!!!!
How long are you waiting?


Exactly one week now.
10  Economy / Exchanges / Re: www.BITSTAMP.net Bitcoin exchange site for USD/BTC on: November 20, 2013, 02:45:41 PM
Still SEPA transfer in limbo, so much for "We expect this issue to be solved and be resolved tomorrow or the next day".

Oh, and thanks a lot for the transparency and open communication!!! FUCKING A!!!!
11  Economy / Service Discussion / Re: www.bitstamp.net - owner has denied your access to the site. on: November 20, 2013, 12:32:59 PM
what about BTC withdrawals from bitstamp, anyone?

Yesterday evening, small amount, took 4 hours to reach my wallet but it's there.

Apart from that, commission rate also suddenly back to 0.5% and 30 day USD volume = 0 for me.

And of course, SEPA transfer from last Wednesday still not in my account.

Overall, pretty epic. NOT!

12  Economy / Exchanges / Re: www.BITSTAMP.net Bitcoin exchange site for USD/BTC on: November 19, 2013, 11:52:43 PM
Just pathetic. What's even more pathetic than the lag in transfers and today's total clusterfuck is the fact that the co-founder is a moderator on these boards but not even able to give at least some sort of brief life sign explaining what the heck is going on (despite being active and constantly logging in here today, last one 8 p.m.).

I can't facepalm my face enough for such an unprofessional conduct of business.

God, I'm longing for the day some real players step up with a reliable, professional exchange and stomp these amateur exchanges to the ground. You'd think with a market cap of 8 billion the time for serious business has come. But nah, let's just run our exchanges like drunken apes. So frustrating.

I'm also not happy with the communication of Bitstamp. A short note on twitter is the least they could do, even if they can't fix the problem immediately.

That said, you're maybe not entirely fair about the "all exchanges are run by drunken apes". A major reason for exchange downtimes appear to be DDoS attacks. The sites don't handle them well, true, but then again, which (non bitcoin) sites do you know that *do* handle DDoS without downtime? The effect is just more spectacular in our case because traders tends to get twitchy when they can't log in and trade.

Of course, there's no real protection against a large DDoS. If this is causing today's downtimes, no hard feelings because of that (though communication is still pathetic).

However, I don't think DDoS had and still has anything to do with the delay regarding wire transfers since the middle of last week.

The site was running smoothly back then, still more and more reports came in complaining about SEPA transfers not being processed into Stamp accounts. That in combination with today's event just doesn't leave a good impression, i.e. me as a customer is definitely losing trust in their operations. I don't think I really have to explain how important customers' trust is when it comes to attracting mainstream interest and catalysing Bitcoin growth.

I'm quite new to Bitcoin, invested the first time at the beginning of this month. Currently, another batch of my money with which I wanted to buy more coins is somewhere in limbo and not where it's supposed to be, i.e. in my Stamp account.

I've already planned to further increase my investment in Bitcoins beyond that limbo money (basically quadruapling it). However, now I'm of course extremely unsure whether I should still use Stamp in order to get coins for that kind of fiat on the one hand. On the other hand, I'm also pretty unsure about the general development of Bitcoin when exchanges just can't get their act together, meaning I'm starting to ask myself whether I should really invest that much money if this is the current state we're in.

I'm just serving as an example. I think lots of people start developing such doubts when stuff like that goes down, and obviously this will have quite a negative impact on the overall development. That's also part of why I'm pissed and referring to the exchange operators as amateurs - not just because I'm concerned about that limbo money and because I've missed out on a lower price per coin (which I would have gotten if transfers would have been processed normally), but also because all these exchange issues severely hurt the overall development imo.

And certainly keeping your mouth shut if your whole exchange goes south for several hours doesn't really help scattering some of these doubts and getting some trust back.

On a sidenote: At least my coin withdrawal was processed roughly an hour ago, still 4 hours after my request.
13  Economy / Exchanges / Re: www.BITSTAMP.net Bitcoin exchange site for USD/BTC on: November 19, 2013, 10:01:45 PM
So everyone is having issue with bitcoin withdrawal?

I do. Requested a coin withdrawal roughly 3 hours ago. Not arrived yet.

Furthermore, also a wire transfer somewhere in Limbo. According to my bank already reached Bitstamp's bank last Wednesday.

Failstamp at its best.

14  Economy / Exchanges / Re: www.BITSTAMP.net Bitcoin exchange site for USD/BTC on: November 19, 2013, 09:12:06 PM
Just pathetic. What's even more pathetic than the lag in transfers and today's total clusterfuck is the fact that the co-founder is a moderator on these boards but not even able to give at least some sort of brief life sign explaining what the heck is going on (despite being active and constantly logging in here today, last one 8 p.m.).

I can't facepalm my face enough for such an unprofessional conduct of business.

God, I'm longing for the day some real players step up with a reliable, professional exchange and stomp these amateur exchanges to the ground. You'd think with a market cap of 8 billion the time for serious business has come. But nah, let's just run our exchanges like drunken apes. So frustrating.
15  Economy / Exchanges / Re: www.BITSTAMP.net Bitcoin exchange site for USD/BTC on: November 19, 2013, 09:57:41 AM
Still waiting over here. Come on, guys ...

16  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 19, 2013, 12:37:32 AM
Even BTC-e has overtaken Stamp btw.

Because these amateurs aren't able to process SEPAs properly. I wanted to triple my stash of coins before the weekend, now we're already at the point where I would only be able to double it with the same amount of fiat. God knows what little fraction I will get in comparison once they finally get their s*** together and find the kindness to process my transfer that's due since almost a week. So fkn annoying I can't even enjoy this ride although I'm already holding a decent amount of coins! Thanks a lot, Stampards!

At least this whole f*** up by those apes made me even more enthusiastic about Bitcoin's future since a transfer of those is usually just a matter of MINUTES - not god damn WEEKS! -___-

17  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 18, 2013, 09:28:59 PM
Guys, stahp! I'm still waiting for my wire to go through to Stamp. That's so freaking annoying. -.- WHY NOW?!?!?!?
18  Economy / Exchanges / Re: www.BITSTAMP.net Bitcoin exchange site for USD/BTC on: November 18, 2013, 05:55:54 PM
Guys, what's the matter with the delay of SEPA transfers lately? I've wired more money in the middle of last week and yet it still hasn't been credited to my Bitstamp account.

Obviously, I'm not the only one. Complaints about dragging transfers can be found all over this forum and other sites and the current order book just looks ridiculous with bids for 800 coins.

What is the problem? Why does it suddenly take way longer to credit these transfers?

I'm missing out on a lot of serious profit here and will definitely think twice about where to send my next batch of money, especially since there's no official communication whatsoever although this is obviously quite a big issue currently. Angry
19  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 14, 2013, 06:19:31 PM

Like April? WHAT? In April the price hit $266 and immediately started tanking, lag went crazy and caused more fear and lag selling. The price dropped to like 70 in 3 hours. We've been at $400-$440 for over 24 hours now. Nothing like April.

You should not expect a similar repeat of last bubble, the trend reverse may be more subtle this time,whales suddenly starts red fireworks out of voodoo TA.

I'm not, I was just pointing out that 400+ has in no way behaved like 266 thus far.

I think any of the big dumps in the past few days on the exchanges would have caused a panic sell like April if there was not enough support for the price.  We are at the base of an S-curve.  Everyone should be studying exponential growth to get an idea of where we are headed and to get an understanding of why it is increasing so fast.  The more people that find out about Bitcoin the faster the price will rise.  It is common with any new technology adoption.  If we think this is crazy, next year will be even crazier I believe.  Sure, there will be a few bumps in the road here and there but we will never see anything below $100 again at this point.  I would even venture to say that now that we have "stabilized" a bit here in the $400 range for a few days that the $200s are gone for the most part.  Maybe there will be a day when it dips down for a few minutes but those coins will be bought so fast that it will be hard to catch them.  Just my thoughts.

Yup, would BJ a hobo to get them that cheap.
20  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 13, 2013, 02:26:59 AM
The signs are everywhere, this is happening people! Wink

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