Its the gox bot (willy?) thats responsible. He eats all the coins at a rate of about 2000/day.
Btw, i wonder if "willy" might be Etoros bot? They seem to get their coins from mtGox somehow. They have a buy execution every 6 hours, but I havent managed to spot any special buying activity at these times (0:00, 6:00, 12:00, 18:00 GMT). There must be quite a few coins going there? Itīs not that hard to see that this bot is obviously buying his own coins, where do you think the 12-18 BTC asks do come from. Do you think someone else is putting always nearly the same amount in Gox orderbook. There are almost no other trades happenin besides this one. And of course some usual 300 and 500 BTC buys are shared between the 0.01 and the Willy trades.  |
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OK - Gox is 140 up on Huobi / Stamp /BTC-e.
The other three are within a dollar or so of each other and largely not budging much.
I don't get it - this looks very odd to me.
Any credible theories out there?
Definitely not wild speculation and manipulation. Put your tinfoil hat off. Gox is rock solid, there is no manipulation in Bitcoin land. Itīs the only trustworthy instrument to trade out there, everything else is fake ( doge not btw). Hodl and get rich.  |
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ccmf
what does this stand for ? Choo choo mother fonzie  |
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That said though, I'm not convinced that we're making a move in any direction until we break out of this range (4660 - 5150 Huobi, 765 - 850 Bitstamp). We could very well oscillate up and down in range until after the 1st. Looking for a strong break of 850 to confirm a move up.
We will be up an out well before the first - this week easily. not easily in the ongoing lateral Movement, but it will go up at least direct after the weekend. You underestimate what happened over the past two days. |
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That said though, I'm not convinced that we're making a move in any direction until we break out of this range (4660 - 5150 Huobi, 765 - 850 Bitstamp). We could very well oscillate up and down in range until after the 1st. Looking for a strong break of 850 to confirm a move up.
We will be up an out well before the first - this week easily. |
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Hello,
Thank you very much for your great site.
Could I ask a question about the Chinese exchanges?
I would imagine you are watching the situation quite closely to see what the next move by the Chinese government will be. I was wondering if you have thought about the point at which you may decide to take the data for the Chinese exchanges offline? Is it simply a question of legality: as long as the exchanges are legal and online you will display them? Or is there a point at which restrictions might become so tough that you would consider taking the exchanges offline as keeping a severely stifled Chinese market coupled with freer markets might not be desirable?
Could I ask, are you in contact with other charting sites like Clark Moody about this subject?
Many thanks for your time.
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Watch out - sheep get slaughtered here!
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Would you say that this is about the porn news?
I never thought I would go TA over news  but this is about the trend since 19 December. The last two weeks have been a consolidation around this trend going horizontal for a while. |
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It can be a trap for the Bulls I'm afraid that really is just wishful thinking. Yep, it would be. Huobi has popped right through its previous high and looks like it will go through roof. I have done fucking horrendously this weekend, my first weekend of trying to short Bitcoin. It might well be outrageously manipulated but I feel quite disgusted at being on the wrong side of the trade the whole weekend. Since I can't seem to get anything right I shall not be jumping sides and joining the upside crew, cos all that will happen if I do is that it will stop shy of $850 when I am in my bed and fkn plummet wiping out half my capital. 2nd worst Bitcoin investment experience ever. Give up the idea of doubling your investment in days. Think about Bitcoin's long-term potential and the long-term potential of an investment: I mean 1 year +, which really isn't very long practically-speaking. Then you can forget about daily price moves. Even if it goes down for a week that doesn't matter. Just keep an eye on the bigger picture - read about the technology, follow the political stuff. As long as Bitcoin remains technologically sound and legal in at least a few countries then there is much more room for adoption and innovation around the system. EDIT: and mentally write off any losses once you decide to go long for the long-term. It's what you pay for learning this particular game!  |
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Nah, downtrend from 6th broken. New trend, up uP UP! BTC traded on gox in last 5 minutes is 1337  It was never a downtrend from the 6th - it was a shift towards sideways movement for a couple of weeks.  Looks like a downtrend to me, also looking at forum posts/threads the consensus was we would revisit 600-700 by now. If you look at it on a bigger scale you see the uptrend from 19 December getting shallow and inclining sideways. It is this trend that is now going to pick up again. I realise that this may not be so useful for intra-day trading! |
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It can be a trap for the Bulls I'm afraid that really is just wishful thinking. |
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Nah, downtrend from 6th broken. New trend, up uP UP! BTC traded on gox in last 5 minutes is 1337 It was never a downtrend from the 6th - it was a shift towards sideways movement for a couple of weeks. |
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Whats with that giant candle at huobi?
the end of the bear trap and the beginning of paradigm shift, target 10K The paradigm shift led by China? Most of the Chinese are asleep aren't they? When they wake up and see this they are going to go ballistic! |
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Are you feeling all right?
Yes I am! And you? Right as rain thanks! |
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- Bitcoin is a revolutionary technology, never before imagined!
- Right now it has the power to upset financial institutions, banks!
- Countries lost the ability to have the financial control of the nation!
- People have control of their own money!
- Facilitates money laundering by companies and bad guys!
- Allows you to transfer quickly, cheaply and anonymously!
This is what most think! However there is almost no truth in it!
Are you feeling all right? |
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The latest bad Huobi news, from confirmed sources.  |
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So, Risto says that 47 people control 3.5M of the 12.1M coins. 3.5M / 12.1M *100% = 29%. These are the "47 powers" that control 29% of the BTC that Williams stated "collaborated to push up the prices to where they are today."
Risto says that 47 + 880 = 927 people control 3.5M + 2.6M = 6.1M. And 6.1M / 12.1M = 50%. And the newspaper article above states that 930 people control 50% of all the coins. Coincidence? Obviously not.
So, we can clearly conclude two things:
1. Risto's deductive reasoning is literally amazing. He was able to essentially guess the exact wealth distribution of bitcoin which has now been verified by multiple independent sources.
2. Prof Williams used advanced methodology from the Science of Economics, and sources including Forbes, to independently come up with precisely the same top-heavy distribution. Using this same methodology, he was also able to show that exactly 47 people colluded to push up the price.
3. We have confirmation that we indeed have confirmed the precise wealth distribution on an individual-by-individual basis in bitcoin. This is obviously the beginning of the end of bitcoin.
You're pushing the boat out a bit there aren't you? So where is your proof of this collaborative effort? I strongly doubt such collaboration but if you have any direct evidence carry on. I've thought about the wealth distribution. If Bitcoin were only a currency then it wouldn't make sense, agreed. But Bitcoin is not only a currency at all. It is also a payment network, which is inseparable from the currency. In some ways a Bitcoin is also a share, as if the Bitcoin network was a company (digital payments platform). It is not unusual for the founders of a company to hold many more shares than those who buy in at IPO for example. This is perfectly normal. This way of assessing the situation is certainly more accurate than simply arguing about wealth distribution as if Bitcoin were fiat currency. |
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For a brief time, Bitcon was a legal way for people in China to get money out of yuan and into dollars or euros. China has rather severe restrictions on moving capital out of yuan. That made Bitcoin very useful in China. This drove a big run-up in Bitcoin prices.
That's over. There's a lot of denial about this on the forums, but the People's Bank of China has made their decision and is enforcing it. There's a lot of talk on the forums about "no one can stop Bitcoin" and such. They're missing the point. Bitcoin was, briefly, a safe, easy, and legal way to move capital out of China. The PBC has taken away "safe, legal, and easy". It's not totally impossible for someone in China to buy Bitcoins and sell them outside China for dollars. But there's now a chance of getting caught. So the advantage of Bitcoin over other illegal and semi-legal approaches (taking cash to Singapore or Hong Kong, for example) has been lost.
Bitcoin really ought to slide down to back where it was pre-China, but may not go down that far.
It's worth remembering that Bitcoin is zero-sum. Profits made by any seller of Bitcoin are losses for someone else. A continuing supply of losers is necessary to keep this thing going. So far, recruitment of marks has been successful, but it's hard to keep that going indefinitely.
Sorry to say, and I don't mean to sound derogatory about your opinion, but bear or bull it really doesn't seem to me like you have a good grasp of the situation. Granted it is not easy to get a complete picture because Bitcoin is unlike any type of asset, currency, payment system or whatever that exists today (in fact it is like a multi-faceted mix of elements from them + ?), but boiling everything down in the way you have done is too cynical and not accurate, even if you believe it is more realistic in comparison with the views of the optimist crowd... ahem  |
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