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Now that the buyers are here, people are stuck wondering how much volume is real, how much is not.
It would have been a trigger to the other markets to see Chinese volume suddenly surge with a price surge. It would show too plainly Chinese interest.
Now, we really don't how many coins the Chinese are buying, and other traders' uncertainty of how serious they are gives them more time to get them cheaper. A head start.
Race is on.
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I'll leave the rest to your imagination.  kinda textbook... |
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Coinbase wall down.
Whats going on
Sometimes big walls get pulled once people start buying/dumping into them, and sometimes they seem to get pulled for no reason. They are probably often put there just for show. Not just the bid wall I think. Quite a few ask walls came down with it. |
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Coinbase wall down.
Whats going on
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Suddenly Coinbase is bigger than Finex and Bitstamp  I remember some weeks ago they had really low volume No. Since they started charging fees they have lower volume than Bitstamp. Coinbase ask side (and bid if we take out that wall) is still very thin. Don't know why would anyone wire 1mil$ to the exchange with such low liquidity. If I was sending $1m anywhere, I'd want it to be somewhere with at least a degree of regulation and in my home country, not somewhere like Stamp of Finex that might run into problems of some sort. Why don't more people understand this? Between the current players, Coinbase is destined to end up as the leading exchange. |
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Inflating prices by a dollar and then charging 1% on any transaction?
Fuck the 1%. Coinbases last blunder they sold TONS of BTC off the real positive news with their lie. So sell a bunch of expensive $320 BTC and buy them back the next day for $240.... fuck the 1%. I think Bitcoin is due to pop pretty good... it would be a sham to see Coinbase try to suck up some of the limelight with fake news again  . Really excited about Rand being at the Bitcoin event tomorrow. Even a small glimmer of hope with a USA president that likes Bitcoin... he could set the pace as far as accepting it and not wanting to make USA coin. http://www.coindesk.com/rand-paul-new-york-bitcoin-event/I am referring to their order book. This is unprecedented on their exchange. |
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the fuck is up with coinbase?
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447
1HSjsnJbDpRWNDDLairZozKLsvaJaZeJDH
Shareholder
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Only 1700 btc until 700. Insane.
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I've got shares on cryptostocks.com, what do I do? |
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Would there be any advantage in buying shares in this ETF over just buying btc yourself?
Non technical people will not have to worry about their investment getting hacked and stolen. |
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Where did the walls on Huobi go?
Edit : My thing was fucked up
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders. Nailed it.  |
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders. Nailed it. So what happens to price under this scenario? Price slowly trickles upward due to lack of coins, without volume? It will trickle slowly at first, because experienced bitcoin traders will scoff at such a low volume rally. Then panic will grow as they notice that the sell walls are not being replaced. Price will then rocket on the low volume of traders who still use these exchanges. The hole these traders will be trying to fit through will be much smaller than anticipated because large buyers have cut off the stream of coins for sale nearer to the source. |
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I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come. Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners. There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders. |
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Wouldn't it be funny if the Chinese authorities were just pissed at the exchanges for running shitty and making fake volume. Like we were.
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Did China just eat ~2.5k ask wall???
>3k |
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Huobi was amazing just now.  |
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Amazing. Didn't plan to watch the whole thing, but couldn't stop. Thanks for that. |
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I don't want to jinx it here...but if we manage to recover from the drop quickly we could be looking at another "Silk Road" cash scenario.
At the time people thought the Silk Road was the cornerstone of the bitcoin economy as well.
edit : I do realize that we were in a bit stronger uptrend at the time of the SR crash.
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