The time to sell was at 1100-1200. Buying had really died down, and the tops were flat. You could kind of justify selling at 950 now, I guess, but if you sold at, like, 600, that's kind of silly. Even if you think it will continue to go down, at least wait for the almost inevitable bounce.
So you are saying that we should have sold at the high, and not at the low? Well go figure...  |
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It seems like lending offers can still be created with longer than 30 days duration? At least those still show up on the list.. Not possible to actually claim them with a >30day period though, as expected.
Ente
those are autorenew, new lending offers are capped |
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Bull trap finished, lets wreck this shit.
Forgot to buy? When have you ever seen Mucus make a bullish comment? |
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Stamp on the move (somewhat)
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BREAKING NEWS: Krusty the clown mentions Bitcoin on the Simpsons.
Updating Price Target: $2200 by Christmas
True story? According to about 19 Reddit posts, yes.. true storaayy Ah reddit, my fallback drug when btctalk is down, and I am jonesing for bitcoin news... |
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This is a job for Satoshi, everyone else would be under funded. JP Morgan tried a similar thing during the crash of 1929 and got his ass handed to him.
Why do I get the feeling that Satoshi would not want to meddle in a free market? +1 |
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BREAKING NEWS: Krusty the clown mentions Bitcoin on the Simpsons.
Updating Price Target: $2200 by Christmas
True story? |
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bid and ask depth of an exchange
Thank You! So from the chart it means there are more people waiting to sell above the current price than there are people wanting to buy below the current price? Is the chart Gox or another exchange ? gox |
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Finally, sold once @the right time. Now we can go down please  You only get to say that it was the right time in hindsight... |
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The crash has almost nothing to do with the "quasi"-ban on bitcoins and everything to do with new ID verification requirements by BTCChina. Same old story. An exchange attracts money launderers and price manipulators. Then requires ID verification. The criminals flee to another exchange. My guess is someone will set up the new btcchina in India soon. this explains btc-e's recent surges No, because they would buy bitcoin at BTC China with their funds, and then sell at BTC-e, giving the exact opposite result. |
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Bitfinex grows and it needs to comply with current regulation.
Not doing this will expose everybody to a regulatory risk.
The difference between doing things right and doing things wrong is sometimes minimal, but always very important.
The devil is in the details, as they say.
We don't change things because we like to complicate our customers lives, we do it because we want their assets to be safe.
So the lending time restriction is a regulatory issue? Positions don't need to be closed when the contracts are expiring, the system will automatically seek for the best available offer and take it without closing anything.
I know, but one cannot know on beforehand what the rates will be near the expiring time. If this can't be helped, I will make my peace with it and handle accordingly, just thought that if this was an issue that was open to suggestion, I would make my opinion/desires clear. |
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As far as I'm concerned this is a good thing. Bitcoin isn't yet ready for adoption by the mass public. The number of transactions per second it can handle is tiny. The minimum transaction fee is static and not easily able to float with the changing BTC value. We don't yet have secure hardware wallets which can generate addresses, store addresses, and sign transactions all completely offline. There aren't any well-known reliable producers of ASIC miners which are shipping immediately. There are relatively few well-known exchanges, and even fewer which are convenient to use. 85% of the hashing power is controlled by 11 miners/pools. These 11 miners/pools are all using software which heavily derived from, if not outright duplicative of, a single software implementation. The pool systems rely on the fact that people are using the standard software or at least aren't gaming the system to their personal advantage. Etc. Etc.
Agreed, we could use some time to build out the infrastructure. We are indeed not ready for mass adoption yet. Oh, and OP, did you manage to keep any of your friends/internet buddies from buying bitcoin in 2011? How grateful are they to you right now? But that doesn't matter right, because bitcoin is going to crash to zero soon enough... any minute now.... 3... 2.... 1,5... 1,4.... |
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Therefore we decided to modify the reading of our charts with a more accurate expected return per day, as a yearly showing would be simply an inaccurate extrapolation (this will take place within the next 24 hours).
ok, makes sense to me Every Bitfinex liquidity provider ( inappropriately called lender ) knows by experience that the contracts are closed within a period of days (not even weeks) once the auto-lend function is de-activated.
Most of the time yes, but I have had loans going for a long time too. I don't see why this shouldn't be allowed. Also the maximum time for a contract will be limited to 30 days, but once the auto-renew function is on it can be renewed if both parties agree.
Once again, I really don't see the problem in allowing longer lending times. I have recently started margin trading, and I don't want to be forced to close my position in 1 month. I want the guarantee that I am able to keep my position open for as long as I want under the lending rates that I am willing to give when I initiate my position. I can hardly imagine that I am alone in this. I know this will originate a lot of questions among the less experienced customers, but leaving things as they were would expose us to a completely unnecessary liability.
What liability is this? Is there some sort of legal/regulatory issue with longer lending times? |
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The 'Chinese Scare' was actually good news guys.
It doesn't feel like it did us much good right now, though! A few days ago I was sure we would take Gold and then rise to, oooh, y'know 1300 up to 1500 range. Since then we have dipped below 600 and can't seem to stay over 700. I have spent all my fiat buying at what seems to be amazing prices compared to a even a week ago. Good news would be stability over 800 right now - I would settle for that! Yes it was surely breaking 1250 and having another leg up with with a solid correction behind it, before the news. It is very interesting to see how bubble pop dynamics are precisely played out on the chart when the event was actually news driven. I would never have said we were in the "bubble phase" of the rally yet because there were healthy corrections. I think we were kinda bubbly, but I was also expecting another leg up (which is why I didn't sell for incoming correction/crash-trading). Probably the uncertainty of what the China news meant was enough to drive people to profit-taking. I think the medium-term bull market is over, but it wouldn't be the first time that bitcoin has proven me wrong. I wouldn't mind being wrong at all  . |
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I just got the notification that the maximum lending period is 30 days (when I was putting in a new lending offer).
Sorry, but what kind of nonsense is that?
I want to be able to borrow and lend for longer time periods. If my counterparty agrees to those conditions, what is the problem?
EDIT: I actually have some trades right now that I would like to do, but I am not doing them because 1 month loans are too short for me. I don't know what the borrowing rates will be in 1 month, so I just don't do it.
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 I'm not sure if I can bring myself to buy big at this moment, but you guys go ahead... What is this chart saying according to you? (If I am not mistaken, you've made some pretty good calls so far) |
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Well that sure puts things in perspective |
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Saving is good, hoarding like a lunatic is not. The beauty of Bitcoin is that people like you can't forcefully impose your subjective preferences on anyone other than yourself. True. But if everybody in the world was hoarding like a maniac, there wouldn't be any economy, any jobs, any leisures. Where exactly is the boundary between saving and hoarding? And who decides that? |
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