|
You have it right that automated trades make up at least half of most trades on MtGox, but I believe you are wrong on motivation. They are not doing it to keep MtGox relevant. The trade initiators, be they human or robotic, are mining MtGox. You see, Gox, being the first exchange with several API options is a gold mine of poorly written bots run by early adopters with massive coin stashes. The trick is maximizing the Bitcoin you get out of them before you ramp the price once again. Of course, as a programmatic trader who understands this dynamic, you can overweight your buys to compensate when the risk of bullishness is too high. The tighter we coil here, the more buy pressure we will see if we break up.
|
|
|
|
1. Nobody takes this thread seriously
2. Does complaining about "dog manure" and "rotten dog money" make for higher quality posts, or just more noise?
This thread should be renamed "Bitcointalk Troll House - also sometimes Wall Observing". I wonder how many older potential investors get scared away by our troll generation. I'm a regular reader since about June last year and it's an acquired skill to mentally filter through the last few pages each day. I immediately filter out the charts edited in paint, memes, trains, bottoms (brief pause tho), nested replies from yesterday's drivel, new drivel. What remains is the odd gem of insightful advice which is generally worth effort. (not much effort, maybe a minute per page) In reply to point 1 though.... this is an internet forum and nothing should be taken seriously. As I stated above the circus does have it's uses though  Exactly, this is a "brainstorming" thread. You have to have lots of ideas in order to have a good idea. As the idea was originally conceived ( http://en.wikipedia.org/wiki/Brainstorming), brainstorming has two principles: 1. Defer judgment, 2. Reach for quantity At least for me, Dogecoin discussion has brought up some interesting psychological questions that also apply to Bitcoin to some extent. It is as topic that is at least as insightful as CCMF!, double bottom, and "to the moon!" posts. |
|
|
|
|
If this is an attempt at serious discussion, and not just a bear trying to scare the market, then why a new thread in the Speculation subforum when there are easily 10 existing threads between "Bitcoin Discussion" and "Development and Technical Discussion"? Wouldn't it be more prudent to discuss this on the parts of the forum that developers are more likely to frequent? If you were to read some of those threads, perhaps you would see that the developers agree that the current state of the code does have scalability issues, and you could bring yourself up to date on the efforts to address the various challenges. Code is being written, but these things take time. If progress is too slow for your tastes, roll up your sleeves and help out.
|
|
|
|
Shut the fuck up about the rotten dog money ffs.!
Such rage, many anger. Yes, you guys ruin a perfectly fine thread with you dog manure. 1. Nobody takes this thread seriously 2. Does complaining about "dog manure" and "rotten dog money" make for higher quality posts, or just more noise? |
|
|
|
Shut the fuck up about the rotten dog money ffs.!
Such rage, many anger. |
|
|
|
ChartBuddy seems lonely. Hi ChartBuddy. |
|
|
|
So what is with those 10-20btc buys on gox every few minutes. They are going on for 4 days now... Not that I don't like them  , but lots of btc should be in that wallet till now (if it is one buyer - bot). People have been calling that the Willy bot. He has been buying 15-17 bitcoins every seven to ten minutes since Christmas, turned off a couple times. Many are theorizing that Gox owns it since it was the only thing capable of trading last week when Gox went off line. Yet it kept trading for an hour and a half, slowly pushing the price up while no one else could do anything. You keep saying this, but it is still not true. My bot made it though that just fine. Just because one API is down doesn't mean all four are. You must be looking for conspiracy to find one where there is none. |
|
|
|
Historically speaking, bitcoin can easily take out a few hundred dollars when nobody expects it. just need one unexpected news release.
I really hope it goes your way mate but please have a plan B, and dont risk too much.
No you don't, cos that would mean the value of your own holdings going down. Anytime that Bitcoin has risen a couple of hundred dollars, nobody has been expecting it much because Bitcoin had been trending within a certain range for quite some period of time prior to run up. Now we are at the wrong side of a bubble/crash event, whenever resistance prices are approached the exchanges are met with a big increase in BTC for sale which pushes prices back down, with each resistance level falling short of the last. It is an out and out bearish scenario, although there is still always going to plenty upside phases and any bear who bets short during these phases will get their asses handed to them on a plate, as I discovered. Next stop is another crash and bounce at $765, or we drop through this support and fall right down to low $700s. I shall set my short position to close at $765 level (which may be a sure sign that things will fall much lower next time around). Maybe if you would stop and consider some of the advice you have been given instead of knee-jerk fighting every tip you receive (which serves strengthens your preconceived conclusions) you wouldn't have to lose money in the exact same way half of us have..... Or you can continue to play with shorting BTC short term. It will either work out eventually, or you will lose all you can afford and leave. Either way, the problem is solved, from my point of view. It's just that, personally, I prefer to keep an open mind and reevaluate my opinions frequently rather than being consistently oppositional. |
|
|
|
Only if you (and they) are only interested in fiat profits. Bitcoin has much more to offer than that.
I know. Thanks to Bitcoin, I can by drugs of such high quality that they could never realistically be found trading on the streets without being cut to shit. As for money laundering, I am not really in that market. Porn I can stream for free. For openly moving money around the world, there are far cheaper and more convenient options than using Bitcoin. Exactly, I will gladly "lose" dollars to anyone who is willing to "lose" bitcoins to me.
Then go long Bitcoin, now! I have yet more shorts on Bitfinex in the low/mid $830s that are needing triggered and I need a decent volume of mugs buyers to trigger them. I'm already way long since <$1, but thanks for the suggestion. |
|
|
|
If you believe that, you should bet that it will hit $10k by 2016. If it hits in 2014 you could double your BTC. Bitcoin will be worth $10,000 by 12/31/2016: http://betsofbitco.in/item?id=1532I guess that if bitcoin hits $10.000 he will more than double his money! But if he doubles his BTC, and it hits 10k, he will more than 20x his dollar value. That would be even better - any suggestions as to how? Plenty of good advice on these boards I guess...  Maybe the way that was suggested, which I included in my quote? |
|
|
|
I am in this for what I can get from Bitcoin. That means for me to win, other people need to lose.
Only if you (and they) are only interested in fiat profits. Bitcoin has much more to offer than that. Exactly, I will gladly "lose" dollars to anyone who is willing to "lose" bitcoins to me. |
|
|
|
If you believe that, you should bet that it will hit $10k by 2016. If it hits in 2014 you could double your BTC. Bitcoin will be worth $10,000 by 12/31/2016: http://betsofbitco.in/item?id=1532I guess that if bitcoin hits $10.000 he will more than double his money! But if he doubles his BTC, and it hits 10k, he will more than 20x his dollar value. |
|
|
|
yet you are telling us about the past, but astrology is meant to predict possible future movement which you didn't provide yet.... so you didn't add anything new yet
For me, astrology is primarily a tool for understanding the past, so I disagree with your characterization. |
|
|
|
I thought too much shorting hurt the price in the long run?  Shorting is a neutral activity. When you short, you sell now and have to buy back in later within the amount of time you're able to borrow the underlying commodity. The media loves to jump all over shorters because short selling, like any selling, can push the price down. Those same sellers are forced to buy back in though, potentially causing a bounce or creating a bottom, reversing the initial price movement. Traders like me love the ability to short because it allows you to profit regardless of which direction the market is moving. The only thing that matters then is the percentage that the price is moving whether up or down because that is your potential profit. Market looks strong -> buy Market looks weak -> short. Shorting is only helpful when it is profitable. If the shorters are incorrect, it leads to a short squeeze which adds volatility. True. Some people like volatility though. Isn't that why we're all investing in Bitcoin and not General Motors? I'm in bitcoin because I think it is a revolutionary, freedom enabling, decentralized currency. I accept that volatility will likely exist in the exchange rate, but that's not why I'm here. |
|
|
|
I thought too much shorting hurt the price in the long run? Shorting is a neutral activity. When you short, you sell now and have to buy back in later within the amount of time you're able to borrow the underlying commodity. The media loves to jump all over shorters because short selling, like any selling, can push the price down. Those same sellers are forced to buy back in though, potentially causing a bounce or creating a bottom, reversing the initial price movement. Traders like me love the ability to short because it allows you to profit regardless of which direction the market is moving. The only thing that matters then is the percentage that the price is moving whether up or down because that is your potential profit. Market looks strong -> buy Market looks weak -> short. Shorting is only helpful when it is profitable. If the shorters are incorrect, it leads to a short squeeze which adds volatility. |
|
|
|
On other news: eBay UK to Allow Sale of Virtual Currency from 10th February[/size] Emily Spaven (@emilyspaven) | Published on January 16, 2014 at 21:36 GMT | Companies, Merchants, News ebay eBay is launching a dedicated Virtual Currency category on eBay Classifieds in the UK on 10th February. The Classified Ads category will allow for the sale of all types of digital currency, including bitcoin and litecoin, eBay representatives have confirmed. eBay Classifieds, which lists posts throughout the site, serves as the site’s answer to Craigslist. eBay provides the free platform for local buyers and sellers to connect, but does not participate in the transactions. http://www.coindesk.com/ebay-uk-virtual-currency-february/I think that kills localbitcoins with their 1% fees Unless eBay has seller protection, no one's going to care. This, plus eBay and paypal fees are way more than 1%. |
|
|
|
Too bad all bitcoin mining will be dead this year, Mining will be only for the millionaires.
So , you're saying I'm going to be a millionaire? Cool. |
|
|
|
Ridicule doesn't open minds, although we are all guilty of it here. Me included. That's part of what makes this such an echo chamber, and why we have "bears only" threads. I agree that some bears are putting themselves in danger, but they just need some guidance. If you want to help, learn the techniques and show them the flaws in their analysis.
We're all going to have to step it up as our little community grows up if we want to have any hope of keeping this a currency and payment system for the people and not a wall street pump and dump playground. The barriers to trading are so low we have way too many people who don't know about trading. When the new trader levels get too high, we pop and then go through the dance of scaring out the majority of them. We need less trolling and more education. But that's a lot to ask from humans on the internet.
I agree with you. I would love it if the forum was more sincere and geniune. When I signed up months ago it was a lot more like that. Now its is a lot more about agendas. Like this thread. The OP was not geniune. I've seen it cycle a few times now. Like I mentioned, bubbles pull in new users/traders until we saturate. Then we do the "shake out the newbies" dance, which we are either in the middle or end of. Sentiment (particularly on the forums) seems to me more like the middle than the end, meaning final capitulation is yet to come. After capitulation, we will return to sanity/balance for a brief period. It is always brief because bitcoin is amazing and eventually a new rally will kick off. However, I haven't sold because I also acknowledge that at some point Bitcoin will outgrow our little echo chamber and at that point sentiment here won't mean much. Also, I'm fairly content with my BTC holdings since they exceed my student loan debt and are my largest form of investment/savings. |
|
|
|
Thank you, but I can not seem to save the image as anything other than .xcf and I can't seem to make windows accept that as a background, any other options? File->export or file->Overwrite previous.filename Gimp supports jpg, PNG, gif, BMP, and about 100 other formats, so you should be able to save it however you'd like. Also, http://lmgtfy.com/?q=gimp+save+as+png&l=1The technology and information to empower you is out there if you will only look. |
|
|
|
|
Ridicule doesn't open minds, although we are all guilty of it here. Me included. That's part of what makes this such an echo chamber, and why we have "bears only" threads. I agree that some bears are putting themselves in danger, but they just need some guidance. If you want to help, learn the techniques and show them the flaws in their analysis.
We're all going to have to step it up as our little community grows up if we want to have any hope of keeping this a currency and payment system for the people and not a wall street pump and dump playground. The barriers to trading are so low we have way too many people who don't know about trading. When the new trader levels get too high, we pop and then go through the dance of scaring out the majority of them. We need less trolling and more education. But that's a lot to ask from humans on the internet.
|
|
|
|
|
Show Posts
