Meuh6879
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Activity: 1512
Merit: 1011
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April 08, 2015, 11:53:26 PM |
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ok, go back to 225 euros in the next hour.  |
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hyphymikey
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April 08, 2015, 11:55:40 PM |
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I wonder what the ask walls at Bitfinex would look like without all those leverage longs that are put up for sale.
Anybody ever notice how the price drops, then longs increase, then ask depth rises immediately after?
It's pretty smart actually, you create the illusion of sell pressure, and if the price rises on you the only thing that happens is your longs close a few dollars higher than what you opened them for. All that and you never risk your own money. No wonder Bitfinex has so much volume and longs open that never seem to close.
It makes no sense, how do you not risk your own money? What happens if real sell pressure is applied? Your asks are never matched and your longs get closed with huge loss. I don't see how this can work except by pure luck (sometimes). What I mean is that if you only sell your coins to push the price down and the price goes up you buy back in at a loss. BUT, if you sell coins, some to yourself (to open leverage longs), pushing the price down, you can then put those longs for sale to "create" even more sell pressure, driving the price further down where you can get your "manipulated" cheap coins. If the price goes up on you, those longs you opened will make money, covering the small amount you dumped to try to jump start the panic. If real sell pressure is applied that means it worked and you can buy cheaper. The only way this doesn't work is if they don't have huge collateral, and we are talking about whales here, so they cover their own asses. They don't get squeezed like small fish. They can easily push the price back up to close their longs if it doesn't naturally. That's why you see the ask walls on finex vanish as the price moves up. They are just moving their longs for sale to a higher price to get more profit. |
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ChartBuddy
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Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 08, 2015, 11:58:34 PM |
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12345mm
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April 09, 2015, 12:21:55 AM |
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BlatchMajorBitstaff
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Activity: 28
Merit: 0
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April 09, 2015, 12:28:03 AM |
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I'll take eight at doom. Or thereabouts
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tarmi
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Activity: 1218
Merit: 1010
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April 09, 2015, 12:28:26 AM
Last edit: April 09, 2015, 12:47:39 AM by tarmi |
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The only way this doesn't work is if they don't have huge collateral, and we are talking about whales here, so they cover their own asses. They don't get squeezed like small fish. They can easily push the price back up to close their longs if it doesn't naturally. That's why you see the ask walls on finex vanish as the price moves up. They are just moving their longs for sale to a higher price to get more profit.
well, fuck them. let them play their coin games&wars on bfx. price is already lagging a lot there. bitstamp is empty, china is looking forward to dump! so let's see how much profit and money will they get and from who. |
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12345mm
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April 09, 2015, 12:39:23 AM |
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doo doo do do der der derp der derpa derpa derpa der derpadity derp derp derpa der der der der ...  |
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nioc
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Activity: 1624
Merit: 1008
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April 09, 2015, 12:41:35 AM |
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Good morning Bitcoinland. We finally got a little movement, I see.
$10 isn't much of a dip to buy on but I suppose it's better than no dip at all so I'm glad I was up really early today and had a chance to rush down and buy a few more coins while the price was down.
By the time I got home the skid had slowed and the price had actually risen a couple of bucks. Lucky timing I guess.
How long now before we're back up over $250 or do we finally break below $240 after a week of failed attempts?
In lieu of popcorn I'll just have to make do with Mocha-Java. Mmmm.
Haven't had much time of late as I'm on day 11 of 19 consecutive long work days  I had wanted to buy for a couple of days but waited for the inevitable downturn and as I wasn't expecting more than we got I bought right away on my first work break. No coffee for me. I can't stand the stuff although I can tell good coffee from bad mostly by smell and also by sight. I get my caffeine from tea, no sugar no milk. The thing is most of my btc seems to turn into ..........oh wait this is the btc thread  I am trying to keep more btc but it aint easy. Later Mr. Natural  |
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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April 09, 2015, 12:45:21 AM |
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Sitarow
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Activity: 1792
Merit: 1047
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April 09, 2015, 12:49:37 AM |
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Coinsetter has just announced our acquisition of Canadian Virtual Exchange, commonly known as CAVIRTEX, a major Canadian bitcoin exchange operating since 2011. The acquisition marks the first major consolidation in the bitcoin exchange market, and represents one of the largest M&A deals to take place in the burgeoning digital currency space. Read more about our acquisition of CAVIRTEX on our blog. Good news for a change. |
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ChartBuddy
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Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 09, 2015, 12:58:33 AM |
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ChartBuddy
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Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 09, 2015, 01:58:38 AM |
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Xiaoxiao
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Activity: 1274
Merit: 1000
The Golden Rule Rules
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April 09, 2015, 02:13:45 AM |
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 The bearwhale is close to waking up!!!! ^ the monster is growling |
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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April 09, 2015, 02:14:59 AM |
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Cconvert2G36
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April 09, 2015, 02:30:27 AM |
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 Much Style. Very Critical. |
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Tuck Fheman
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April 09, 2015, 02:51:54 AM |
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If I do not get some DOOOOOOOOOOOOOOOOOOOOOOOOOOOOM and soon....
 That's an optimistic price.  Now we get to find out. |
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ChartBuddy
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Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 09, 2015, 02:58:33 AM |
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ChartBuddy
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Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 09, 2015, 03:58:34 AM |
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Fatman3001
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Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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April 09, 2015, 04:22:49 AM |
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Almost 27 millions longs
Almost an infinate money supply!
Not sure if you`re just messin, but the cow starves while the grass grows. I'm not convinced at least by one bit that this cow bear is starving. I suggest you read up on posts by chessnut, RyNinDaCleM & masterluc. They seem to have a good grip and understanding of how things are playing out. No, no. I'm the cow. I need some rockets. |
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