 Well that was interesting. West doesn't want to move up without a fight
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Correction... lets see how much time it takes
With some volume too |
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I thought the polls here had a history of being insanely inaccurate? Still, I guess it's gonna come at some point kinda soon.
they are often not properly posed: <100 is also <500 and <1000. Intervals should be like: 500-600, 600-700, with extremes open like <100 and >1000. Shhhh as long as we're under $1000 i'm always right |
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btc dump incoming btw....  Ok, so now you've provided something solid. Let's see if it pans out. Ah, okay. I thought he'd say something different this time. He managed to fail at a 50/50 outcome BRAVO, or given the lack of time frame you can always try to claim one of the corrections |
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551 on Stamp, keep going my beauty. Hope this doesn't get dumped on.
Better they dump now |
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And so it was. Guess market liked that news, or the west at least  |
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Only 5 weeks to halving. The price will stay at this point below $600, but in August o September it will go up hard pushed by miners.
If you rush, you lose. Stay calm and follow the market, never fight against it and you will earn money.
It amazes me how many still think that miners set the price for BTC. Miners have no control over the price OR supply, they can't produce less, and when some go out of business supply still doesn't get reduced. The difficulty is the element that adjusts to miners profitability (i.e. when some go out of business due to costs, hashrate drops and difficulty adjust not supply!!!) |
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Spread closed, west stopped giving up cheap coins to the dragon. And might actually want some of them back (at a premium)
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Now that we're back in sync, no we go up? Jusdging by a BTC666.66 buy order on whoboi @ 3523.93 dragon might just not be done
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We're finally back to normal $10 range spread between Asia and west, this one was overdue, $60 spread was crazy
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http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise. KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust. As soon as that happened they let the price go up to a new level ... where they think they can manage it. These shennanigans have released some important information into the market, givn some of the game away so-to-speak. Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate. Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960. BTC price doesn't depend on the production cost. Market sets the price at which one is willing to purchase BTC not miners at which they're willing to sell BTC. Market couldn't care less how much in electricity it took to produce 1BTC, simple supply and demand, where supply is fixed |
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what the hell caused the climb out of the 400's? i'm so out of touch it's ridiculous...
Demand was greater than supply. And supply is about to get cut in half |
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This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.
Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here If they really and strictly are letting users trade between each other to set the rate then I'm not following them. If you trade BTC/EUR and BTC/USD then you effectively trade EUR/USD as well. Why would you deliberately introduce EUR/USD if you're not tempted to take advantage of some arbitrage 'opportunity'? With the opportunity, however, comes the risk especially if you don't know what is the EUR/USD exchange rate. I believe they process SWIFT deposits in EUR faster and cheaper than wires in USD, and there seem to be a disconnect between BTC/EUR and BTC/USD pairs. You're right it's effectively USD/BTC BTC/EUR conversion just cuts out one step and exchange fees for arbs to be more effective. btc-e had eur/usd pair for a while now |
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This is not good for Bitstamp. They're desperately trying to make money by expanding their business but they should stick to bitcoin only. Trading EUR/USD during weekend days and holidays is a recipe for disaster. They will have nobody to unload/hedge their positions during that time. EUR/USD pair is quite stable now but this was not always the case, nor it'll be in the future. Sometime gaps between Fridays and Mondays are so big that even a middle size broker can easily be bankrupted in a single day.
Huh i'm not following. They're only letting users trade between each other to set the rate. They're not pegging the rate over the weekend. I don't see the fx risk exposure that needs to be hedged here |
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Wow... Bitcoin haters troll fest. What a bunch of losers panicking because of bitcoin appreciation?
Yeah over half of the comments is from ignored users the quoting quote of ignored users is too damned high.  I'm surprised my ignore list hasn't crashed the BCT server yet First they took away the glowing ignore indicator, then they took away the noob jail, what's next taking the captcha out at at registration |
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Wow... Bitcoin haters troll fest. What a bunch of losers panicking because of bitcoin appreciation?
Yeah over half of the comments is from ignored users |
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Look how time flies, down $10 since that was posted.
 LOL yes only if they were trolls would be even funnier |
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Bearstamp bot has totally rekt their trading engine ... price jumping between 456 and 522 lol!Q!!
get out of there, looks busted
I don't believe that stamp is manipulating the market by selling tons of coins that they don't have. Their daily volume is into BTC10k (finex is BTC50k) it's just a shadow of itself, low volume so not many people keep $ on it, and it's much easier to transfer BTC in there for sale then get $ in |
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OMG Huobi $589, the west $530, still a big gab but im delighted I'm looking at Bitstamp 521 BTC-e 501.7 Bitfinex 532.09 Huobi 589.87 ...which means we have spreads like 6% between btc-e and finex, 11% between finex and huobi, and 17% between huobi and btc-e. If anything, these spreads show how broken legacy banking is and the difficulties of global mobility of funds between countries and markets, in terms of feasibility and speed. Bitcoin is simply light years ahead of problematic and slow legacy banking and it shows in how legacy banking is creating arbitrage opportunities with vast spreads in the (much-faster-moving) btc market. BTC trading in particular seems to be the "vehicle" of exposing legacy banking for its inadequacies... Indeed the 17% spread is very bothersome. Either China is so hot they're buying everything in sight with no regards to other markets and arbs ran out of funds on western exchanges, or there's an outflow of capital from China and they're cashing out on western exchanges. Or maybe a bit of both |
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