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News: Help collect the most notable posts made over the last 10 years.
 
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Question: When will we see a new ATH? (Credit to: Biodom)
2019 - 14 (9%)
Early 2020 - 33 (21.3%)
Late 2020 - 46 (29.7%)
Early 2021 - 14 (9%)
Late 2021 - 25 (16.1%)
2022 - 4 (2.6%)
2023 - 0 (0%)
2024 - 4 (2.6%)
After 2024 - 3 (1.9%)
Never - 12 (7.7%)
Total Voters: 155

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21430063 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (129 posts by 23 users deleted.)
notme
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May 22, 2013, 02:37:31 AM
 #10061

Sorry, I can only take so many YEARS of bitching and moaning about the same shit before I get sarcastic.  You've only had to put up with it for 3 months, so you probably have some patience left.  If he had added anything new, I wouldn't complain, but every point he brought up has been beat to death.

Apology not accepted. You should learn to control your nerd rage. It's offensive. The fact the lag continues after 3 years does open up new questions. It's clearly a fixable problem given the money they have. Why they won't bring in outside help to fix it is troubling.

There is a cool feature called ignore. There's also a cool feature called, "keep scrolling". Your mouse probably already has it. If it doesn't, they're pretty cheap. Look for the newfangled "scroll wheel". It's insane. It lets you scroll through the page really quickly. Skipping any shit you don't feel like reading. Crazy huh?

Next time you get REALLY REALLY upset at a post, take a time out. Here's 10 things you can try to make life on the internet a lot easier.

Mayo Clinic - Anger management: 10 tips to tame your temper

Lol... It wasn't an apology to you.  BitcoinAshley is actually a thoughtful member of the community.

You should learn to be nice.  You're offensive.  Being an asshole doesn't help anybody.

Anyway, congratulations, after 3 years on this board, you are the first one to make it on my ignore list.
The Bitcoin Forum is turning 10 years old! Join the community in sharing and exploring the notable posts made over the years.
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May 22, 2013, 02:40:38 AM
 #10062

Who said it was simple? MtGox isn't #1 because of the quality of their site/engine. It's liquidity. It's a chicken/egg argument. There are plenty of market leaders who are poorly run. They remain market leaders for a number of reasons. You have this naive business paradigm that the biggest site is clearly the best, clearly well run, otherwise they wouldn't be number #1! Sadly in the real world, where real people live, that's not always true.

They are still there, while plenty of others were taken down by hacks, regulations, or plain arbitrary decisions from banks.
They are also located outside of USA. Which, in my book, is an advantage.

Does liquidity play in their favor? Sure.
However, I would argue that this is only a small advantage.

Another exchange, with the same characteristics as MtGox (except the liquidity), could probably
take a good chunk of the market by offering smaller fees.
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May 22, 2013, 03:02:43 AM
 #10063

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May 22, 2013, 03:02:51 AM
 #10064

LOL... when did I comment on programming or math in this thread?  I agree that MtGox is crap, but complaining about it doesn't do any good.

Ad hominems don't make you right, and when they are baseless, they hurt your credibility.

Ad hominems? What the fuck. From the guy throwing out the "let's see you do better" logical fallacy. But wait, you agree with me. Do you even know what ad hominem means? I already know I'm right (which you agree with), I'm just calling you out because it's baffling anyone would object to discussion of extremely concerning flaws in the trading engine and why after 3 years they refuse to address it despite the fact they have plenty of money. It had nothing to do with my argument, MtGox is indefensible, that's a given.

Your programming knowledge comes into question when you defend MtGoxs trading engine. "Where's your exchange" implies it's harder then it looks, I doubt you could do better, and they're not as awful as you're saying. Which is why I thought you were 6 years old (and/or retarded). It's hardly baseless, your reply does make me think you're autistic. Sorry.

Do you know what ad hominem means?
Quote
An ad hominem (Latin for "to the man" or "to the person"[1]), short for argumentum ad hominem, is an argument made personally against an opponent instead of against their argument.

Instead of addressing the topic, you called me retarded Roll Eyes.

Also, I never defended the MtGox trade engine.  It is harder than it looks, but mostly from a regulatory standpoint.  I agree their system is crap and could easily be improved upon.  But, instead of finding out the truth you make assumptions about me that lead you to believe I am of low intelligence.  I'm just tired of hearing the same shit repeated over and over.

No, I addressed the topic, THEN called you retarded. That was a totally separate issue.

But the key point is why don't they fix it. I personally think they're insider trading the fuck out of the exchange which is why they keep running their home-brewed POS engine. Because they don't want someone else coming in and knowing what they're doing. In 2011 you could just say they're new, growing paints, etc.. But now? It's highly suspicious they refuse to address the problem. Call fucking IBM/Oracle, break them off 500k, pretty confident they'll fix it up within a month. As sloppy as Oracle can be, they still have some of the best DBAs on the planet available 24.7.

The fact they've made more money this year then all of last year, the trade engine is still a mess, brings up more and more questions about their credibility. It points to something else going on besides "it's a complicated system".
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May 22, 2013, 03:04:54 AM
 #10065

Lol... It wasn't an apology to you.  BitcoinAshley is actually a thoughtful member of the community.

You should learn to be nice.  You're offensive.  Being an asshole doesn't help anybody.

Anyway, congratulations, after 3 years on this board, you are the first one to make it on my ignore list.

She calls more people retarded then I do. And so far I've agreed with everyone she's slapped with that label.

You're the one who started with the snarky/sarcastic remarks. I just ended it. Show some respect, I was here before you.  Wink
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May 22, 2013, 03:12:14 AM
 #10066

Who said it was simple? MtGox isn't #1 because of the quality of their site/engine. It's liquidity. It's a chicken/egg argument. There are plenty of market leaders who are poorly run. They remain market leaders for a number of reasons. You have this naive business paradigm that the biggest site is clearly the best, clearly well run, otherwise they wouldn't be number #1! Sadly in the real world, where real people live, that's not always true.

They are still there, while plenty of others were taken down by hacks, regulations, or plain arbitrary decisions from banks.
They are also located outside of USA. Which, in my book, is an advantage.

Does liquidity play in their favor? Sure.
However, I would argue that this is only a small advantage.

Another exchange, with the same characteristics as MtGox (except the liquidity), could probably
take a good chunk of the market by offering smaller fees.

Liquidity is a huge advantage. Have you been on the other exchanges? People do offer smaller fees.

Why was Internet Explorer the #1 browser for so long? Because they were better? Being bigger, being the market leader is a huge competitive advantage.

My point wasn't that MtGox sucks. It was more about my suspicion on why they haven't fixed the trade engine. It's not money. It's not because no one can fix it. They have 25M plans to be legit but there's no way they've made 25M. Unless of course they've been running a shady exchange, which also explains why they don't bring in outside help to fix the trading engine (or why it lags in the first place, because that creates more places they can inject trades).
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May 22, 2013, 03:17:49 AM
 #10067

I used Cavirtex. Abyssal volume and 3% fees.  Cheesy

Why was Internet Explorer the #1 browser for so long? Because they were better? Being bigger, being the market leader is a huge competitive advantage.

Explorer still plagues our lifes to this day because it always comes with Windows.
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May 22, 2013, 03:18:36 AM
 #10068

You seem to be having a nice conversation with yourself.  Please post louder, I can't hear you:


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May 22, 2013, 03:20:15 AM
 #10069

Gentlemen, you can't fight here, this is the wall movement tracker hardcore.
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May 22, 2013, 03:20:29 AM
 #10070

Gentlemen, you can't fight here, this is the wall movement tracker hardcore.

Tongue
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May 22, 2013, 03:24:25 AM
 #10071

Update on the walls:

Not a darn movement.  Angry
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May 22, 2013, 03:32:57 AM
 #10072

Update on the walls:

Not a darn movement.  Angry

Market is flat even on the weekly chart.

http://bitcoincharts.com/charts/mtgoxUSD#rg180zigWeeklyztgSzm1g10zm2g25

note: higher weekly lows for 4 weeks now...
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May 22, 2013, 03:38:06 AM
 #10073

rpetilia was arrested and is locked up in an insane asylum lol true story

who could have predicted that
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May 22, 2013, 03:43:57 AM
 #10074

rpetilia was arrested and is locked up in an insane asylum lol true story

who could have predicted that
Maybe the lack of a guy suffering from mania with a mountain of bitcoins to trade is partly why the market is so stable.  Ever since he went off to his conference the market has been fairly flat.

I did also wonder if the sudden $10 drop a few days ago that was caused by huge amount of bitcoins being sold at once was his missing coins as opposed to a reaction to the Dwolla story
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May 22, 2013, 03:46:35 AM
 #10075

rpetilia was arrested and is locked up in an insane asylum lol true story

who could have predicted that

Source?
01BTC10
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May 22, 2013, 03:48:16 AM
 #10076

rpetilia was arrested and is locked up in an insane asylum lol true story

who could have predicted that

Source?
rpetilia himself
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May 22, 2013, 03:48:36 AM
 #10077

rpetilia was arrested and is locked up in an insane asylum lol true story

who could have predicted that

Source?
https://bitcointalk.org/index.php?topic=174620.180 (the last thing that was posted there)
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May 22, 2013, 03:50:41 AM
Last edit: May 22, 2013, 04:20:52 AM by Abandon
 #10078

There hasn't been any Bitfinex shorting or leverage with Mt.Gox for a while, which could help explain part of why the market is so stable right now.

When people short, they are selling bitcoin at the current price, in order to buy back at a lower price. Without shorting, people can't sell what they don't have; shorting allows for this, and leverage magnifies it stupendously.

In theory, BTC1 can become BTC1,000 or BTC2,500 or even BTC9,999,999,999 this way. If the price went up a slight bit, one would have an unrealized fortune. However if it went down even the slightest bit, they would go instantly bust. One runs the issue of slippage the more they trade with. The ratio for leverage depends on how volatile and liquid a market is, and how much lenders are willing to risk or charge. Bitfinex only offers a ratio of 2.5:1, while with Forex markets, there can be leverage up to a 1000:1.
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May 22, 2013, 04:02:58 AM
 #10079

MickeyT2008
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May 22, 2013, 04:03:19 AM
 #10080

rpetilia was arrested and is locked up in an insane asylum lol true story

who could have predicted that

Source?
rpetilia himself
I felt a bit sorry for him with the way things turned out for him.  He may be an oddball but nobody deserves to have 100,000BTC stolen, it's no wonder he cracked, that's about $12 million.  I'd flip out if I lost 100BTC.  That's assuming that it really was that much of course.  However, just when the Dwolla story broke someone dumped about 80,000BTC, I can't help wondering if that was his coins rather than the Dwolla story because they all got dropped in one go.  Apart from those coins that got suddenly dropped there was no crash, there just seemed to be a rush to buy the cheap coins, followed by a return to normal over the next few hours.  If it had been the Dwolla story I'd have expected the price to continue to fall for a bit longer than that.

Tin foil hat on standby
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