all these speculation, eth being a cause, conspiranoia, cia, illuminati... so lol. i like a lot btc, but from reading this forum i realize most ppl here are real fanatics on a promised winning lottery ticket. (scary shit) i dont know if this huge ath will happen before halving, or in 5 years 30k, or never, but seems to me the ones reallly making profit are the ones doubling their money from pump to dump. and this is the reason behind this volatility, not complicated theories about 3 guys on ether and secret illuminati agendas. just profit, a huge power indeed! and those with the "btc will save us all" thing... nah i dont buy it, seems to me u are just for the lottery big price thing too (just not realizing) meantime, ill be sure not to get hypnotized with this folks btc church and quickly pump n dump like the smart ones.. at least il try. On the other side, after i do that ill be buying in again, for now.  There's a lot of fanaticism around BTC, but beyond that, the pump was lead by China and so was the dump. If anyone can explain how buying a bunch of coins in $700+ range and dumping them under $600 can get you rich i'm all ears. From what i've seen it didn't cause havoc and there was no chance to rebuy lower, a basic factor for profitable pump and dump |
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I don't see how the shorters can profit much from this. They have to buy back in, to close their positions, and there are not too many coins for sale.
Yeah can't imagine anyone profiting much here. Unless we hear that China banning BTC tomorrow, i'm a bit baffled by this move |
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Ahh good old bitcoin is back
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 FML I was this close to getting out at $780. But noooo, I had to be at work on Friday only to find out after I get home the price had plummeted below $700. This action is like a sick joke, taunting me. Oh well, I waited a few years, what's another few weeks (assuming the halvening affects the price positively)? You're delusional if you believe of a rapid price change on the day of the halvening Just like passing the event horizon of a black hole you will feel nothing yet what will happen afterwards is inevitable. I thought you'd get burned up by all the light that's suspended there that cannot escape? |
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FML I was this close to getting out at $780. But noooo, I had to be at work on Friday only to find out after I get home the price had plummeted below $700. This action is like a sick joke, taunting me. Oh well, I waited a few years, what's another few weeks (assuming the halvening affects the price positively)? You're delusional if you believe of a rapid price change on the day of the halvening |
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Ya'll think 4k will hold?
Don't think so No chance I think it should hold. West is starting to lead. Bid order books looks ok to $600. But can never rule out flash crashes and long squeezes short term |
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Huh and here i was thinking that each transaction has a buy and a sell side. So who's buying the coins during those high selloff volumes? And who's selling them at high buying volume?
Whales can massively short with leverage, dumping coins back down into their own bid walls, making money the whole way down. You do know how markets work, right? Apparently not. But sounds like you've figured it out. You must be a billionaire who figured out how markets work? Ultimately that money has to come from somewhere for those magical whales to profit, by leverage shorting (even though shorts on finex have been stable for a year now) |
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So this all makes perfect sense, eh?
Weeks and weeks of excitement and price rise on all exchanges. People were saying China was leading, providing 90% of the volume, and couldn't get enough.
Then an auction ends.
Then an exchange has network problems and goes offline for a bit.
Meanwhile price plummets.
Exchange comes back online.
But now we're at -130/btc, and all trading has essentially come to a complete halt.
Makes perfect sense, right? But...but.. China demand?? Right?? Fellaz??
I just put bitcoinwisdom on 6h so it shows from the beginning of the run up and I don't see volume going down. Not at 4h, 2h or 1h either. BTW I'm not used to anything making sense. High selloff volume is not the same as high buying volume. If China buying demand was really there and accounted for 90%, they'd just steamroll over this sell off, actually they would look at it as a huge buying op. I'm getting sick of people still touting that 'China' is somehow responsible for all the supposed demand. They aren't, because the whales that ran this up are not Chinese, they simply have open accounts on all worldwide exchanges include the Chinese ones. That's the dirty secret that the whales don't want you to know. Huh and here i was thinking that each transaction has a buy and a sell side. So who's buying the coins during those high selloff volumes? And who's selling them at high buying volume? I wouldn't say they account for 90%, but even 30% in NEW demand would shift this thin market dramatically. It's clear to the casual observer that the previous rallies started on Chinese exchanges (i.e. trading in CNY) true that whale can be anyone just trading on a Chinese exchanges, but due to trades being in CNY we can conclude that not many westerners would trade $ into CNY before purchasing BTC |
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Buy some broken shitcoins? Hmm. Sounds like a great idea! Of course I’m the kind of guy that sticks screwdrivers in his ears for sport. But still, excellent advice from Bitcoin News Magazine. Everybody game?
I'm the kind of guy who once he sees a bunch of people sticking screwdrivers in their ears and then fall in agony, thinks it's a good idea and does it himself. So yeah where can i buy these shitcoins, looks like people are having fun over there i wanna join |
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Silly kids it's just longs taking profit, fallout from the Finex network meltdown. I'm not glad that it's going down. But i'm ecstatic that $5.6MM in longs have closed if we keep above $650 when $3MM more close that would be gentleman. |
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Of course we have redundancy ... it just didn't work. Love it  |
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Huh so the world didn't end and we're still trading in $700s and only BTC2600 till $750
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Monitoring - Trading will resume at 4:00 UTC. Order cancels can be submitted now, but they will not process until 4:00 UTC. Please note: When trading resumes there will likely be wide spreads. We caution users to be cognizant of this fact and warn against using market orders. As trading goes on, the order book will fill in and this will become less of an issue. Please be aware of market conditions when placing your orders.
Jun 21, 03:49 UTC https://bitfinex.statuspage.io/ |
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https://bitfinex.statuspage.io/Update - Updated trading restart time. We restart trading at 00:15 UTC. From now to 00:15 UTC users can cancel active orders. New orders will be accepted after 00:15 UTC
Jun 20, 23:56 UTC It's 1:18 UTC now 
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WTF only BTC880 on Finex till $700  and BTC785 till $850 where did the order book go? Something strange happening there, I think. The depth chart has been all over the place too. And they stopped updating altogether |
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WTF only BTC880 on Finex till $700 and BTC785 till $850 where did the order book go? |
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Did any of you made even made a small thinking exercise, on the matter: What happens when BTCitcoin actually costs too much fiat paper to be bought?!?!!
Wow...I never thought of that. Whenever I purchase anything with bitcoins I must always use a full bitcoin. I know that's exactly how i feel when i want to buy a piece of gum but all i have is a 500€ note. That gum suddenly became was very expensive, damn inflation! |
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back in the day Finex was new and didn't have much volume especially for leverage products that they offered. Stamp was #1 by volume so they made some arrangements with them and pretty much were shadowing stamp. Very interesting - thanks for posting. I didn't know about that background to the growth of the exchanges. It was like 2yrs ago. Now i feel old. https://www.cryptocoinsnews.com/bitcoin-trading-platform-bitfinex-distancing-bitstamp/“I’ll try to answer here. We used to include the Bitstamp order book into our own order book for liquidity purposes. In other words, we were arbitraging between our own platform and Bitstamp. However, as we continue to grow we decided to slowly, and I insist on slowly, withdraw this arbitraging program to let people do the arbitraging themselves..." |
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A pump followed by a bigger pump less than a couple of hours?
What is happening?
Whale warring each other?
Well when you're the only whale in the market, essentially dumping into your own bid walls, it's easy. Nonsense. The one whale theory is total baloney, but you keep on with it for months and months and months... do you really believe such nonsense? Is there actually any evidence or logic for such an extraordinary claim? Remember the saying that extraordinary claims require extraordinary evidence... ? Where is it? The thing is ... that there is a "whale" ... but .. it is not a person!It is an entity / company / group of people / communist party ... that have between 80.000BTC - 150.000BTC coins!And they work 24/7 in 3-4 shifts maybe. Do you imagine just dropping dumps then leaving the poker table? ... Someone must stay behind and level the plain, to keep things afloat! ... till the next time the "whale" comes to pump & dump! This x 1000. It may be a conspiracy theory to many, but I believe it is completely plausible, especially if such a whale group was formed in the early days of Bitcoin. They could have accounts open on every exchange, and work together 24/7. They could write a bunch of coordinated bots on every exchange that work together. Not to mention if they have way more funding to back them than what is currently in the exchange markets, then they will control each and every local market. They would be able to control the rise and timing of bitcoin fairly precisely. And if they are connecting to powerful/wealthy people, then they will have insider trading knowledge/info many months or years ahead of the public, and will be able to time pumps/dumps on major news announcements. And no, of course there's really no way to provide proof of such. Just like there is no definitive proof that the Russian Mob is behind the U.S. Stock market (and every other major world market). So let's all just stick our heads back in the sand keep saying its the Chinese that are pulling all the strings and providing all the volume, 'cause that's what you all want to believe.  Well, apart from all of the conspiracy theories, i think the real reason is much simpler and doesn't involve aliens or Russian mob. Some history, back in the day Finex was new and didn't have much volume especially for leverage products that they offered. Stamp was #1 by volume so they made some arrangements with them and pretty much were shadowing stamp. That provided Finex much needed liquidity. As Finex grew, on big volumes we often saw Finex price decouple from Stamp price (that was when Finex ran out of money on Stamp). At certain point Finex outgrew Stamp, they completely decoupled and Finex took the lead. What we're seeing here (i believe) is well... CHINA CHINA CHINA x100. Their fake volume was great but now there's a genuine bullish run there, and they need coins from somewhere. It would only make sense to make some arrangements with Finex who's in Hong Kong (like Finex did with Stamp in their day) for liquidity. West is bearish so there's little to no bid support, but China is on a bullish train so they don't care and just keep charging ahead. That's why we don't see much bid support on Finex (arbs don't like risk exposure to catch falling knifes), yet we see those BTC1k market buys, west gets panicy from no/thin bid support and starts dumping. So we get heavy ask side, thin bid side, and a lot of volume. TL;DR as long as whoboi is above Finex by around $10 or 1.5% we're riding the Chinese made rocket. |
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If the unknown Satoshi would have such trouble with the law, what about Vitalik Buterin and all the known altcoin creators?
I think right about now Vitalik has a bunch off pissed off investors he should be worrying about rather than the law tis is a mere hiccup.. hes not on his own..we are behind him and the ETH team...not only through the gd but the bad too just like i was/am with nakamoto Cool i'll just watch  |
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