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Chainsaw
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May 06, 2015, 11:39:42 PM |
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I believe the Bitfinex owner occasionally appears on the Whaleclub Teamspeak channel.
(They moved addresses, don't have the link anymore.)
It's possible the folks over there have a clearer picture of what is going on.
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UnholyTrinity
Newbie
 Offline
Activity: 11
Merit: 0
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May 06, 2015, 11:41:20 PM |
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If things should get ugly due to a eventual Bitfinex "fuckup" "shutdown" whatever , we could all agree to just take GBTC prices as standard reference for this thread. Live would be better!
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minerpumpkin
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May 06, 2015, 11:41:31 PM |
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Honestly right now I would actually ROFL if it will be confirmed that there was no real dump and just a trade engine malfunction .
Well the dump was at least partly legit. Huobi was slowly breaking below support and started to sell, Finex as well. Then at some point things cascaded down to ~$227 or so. That was a big dump already. But then something peculiar happened: The price went up to $234 again, only to fall back to $228 again. I bet a lot of positions may have gotten margin-called or at least stopped during those movements. Could be due to the engine malfunctioning. And what's the deal with the decimal places!? |
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ricmi
Newbie
Offline
Activity: 23
Merit: 0
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May 06, 2015, 11:42:32 PM |
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400 k of new longs opened! Seems promising and bullish.
I'm buying.
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shmadz
Legendary
Offline
Activity: 1512
Merit: 1000
@theshmadz
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May 06, 2015, 11:44:41 PM |
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So you are telling me that since bitcoin went from a few millions marketcap to a few billions marketcap, it means hundread of billions of even trillions is next?
Any penny stock pump and dump looks like that. Some bubble up again, some don't.
Saying that "bitcoin history will repeat itself" is BIAS. Bias gets people killed.
Not saying it won't happen, just saying that blindly buying and hoping is not a good strategy. Exactly as when it was at $2 or $10, the best strategy was to form an opinion on the market and buy/sell accordingly.
I'm not Saying that "bitcoin history will repeat itself" .. history doesn't always repeat, but it does seem to rhyme. I'm just saying that there is a chance (a good chance, in my opinion) that it could be several months before we see a significant move upwards, if ever... when we were at 2 dollars I was not sure the price would ever recover, I sold plenty coins at the 5 to 10 dollar range to protect myself against the chance that it might never go up again. I also held on to a "small" amount of coins, "just in case"... If you are going to hedge, you should hedge against both outcomes. That's all I'm trying to say |
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UnholyTrinity
Newbie
Offline
Activity: 11
Merit: 0
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May 06, 2015, 11:49:02 PM |
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400 k of new longs opened! Seems promising and bullish.
I'm buying.
Count me MF in, i´m buyin all i can, just like every other day! Everytime longs increase it is bullish , same thing when shorts increase=bullish. When longs or shorts go down it is also bullish. I learned that in the trading school of inca. What could go wrong? It's difficult for bitcoin to reach $250 for long time, some people ready to dump their bitcoin when bitcoin price at $250 or above And then bitcoin price down to $22x again  It is currently 9 dollars away.
As soon as GBTC trades the price will jump another thirty dollars. |
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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May 06, 2015, 11:55:32 PM |
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Down a few dollars. Still just 1400 coins on finex back to 234 lol  |
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ChartBuddy
Legendary
Offline
Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 06, 2015, 11:57:53 PM |
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uhoh
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May 06, 2015, 11:58:22 PM |
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bored of btc...
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Jammalan the Prophet
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May 07, 2015, 12:00:17 AM |
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Down a few dollars. Still just 1400 coins on finex back to 234 lol Awesome. 1600 coins to 430 on stamp =)))))))))))))))))))))))))))))))))))))))))))))))))))) |
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ricmi
Newbie
Offline
Activity: 23
Merit: 0
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May 07, 2015, 12:00:51 AM |
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400 k of new longs opened! Seems promising and bullish.
I'm buying.
Count me MF in, i´m buyin all i can, just like every other day! Everytime longs increase it is bullish , same thing when shorts increase=bullish. When longs or shorts go down it is also bullish. I learned that in the trading school of inca. What could go wrong? You don't sound so smart, because smart money like Citadel hedge fund is building a secret rocket on GBTC as we speak. Also, what this milky dude said. Now is the right time to buy coins on BFX and leave them for good. Just buy. |
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UnholyTrinity
Newbie
Offline
Activity: 11
Merit: 0
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May 07, 2015, 12:05:01 AM |
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Down a few dollars. Still just 1400 coins on finex back to 234 lol Stupid bears are extremely premature today again. I can´t see any problem with the price as long as we are still above double digits! |
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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May 07, 2015, 12:06:49 AM |
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Down a few dollars. Still just 1400 coins on finex back to 234 lol Awesome. 1600 coins to 430 on stamp =)))))))))))))))))))))))))))))))))))))))))))))))))))) Such is a protracted bear market. But it cannot go on forever  |
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Jammalan the Prophet
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May 07, 2015, 12:10:12 AM |
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Down a few dollars. Still just 1400 coins on finex back to 234 lol Awesome. 1600 coins to 430 on stamp =)))))))))))))))))))))))))))))))))))))))))))))))))))) Such is a protracted bear market. But it cannot go on forever NOTHING can go on forever. Not this bear market , not a bull market , and not bitcoin of course. Sooner or later everything will be reduced to dust and memories |
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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May 07, 2015, 12:15:05 AM |
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Down a few dollars. Still just 1400 coins on finex back to 234 lol Awesome. 1600 coins to 430 on stamp =)))))))))))))))))))))))))))))))))))))))))))))))))))) Such is a protracted bear market. But it cannot go on forever NOTHING can go on forever. Not this bear market , not a bull market , and not bitcoin of course. Sooner or later everything will be reduced to dust and memories Quite. I do rather hope btc rises before then though (so I can buy myself a nice yacht) |
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UnholyTrinity
Newbie
Offline
Activity: 11
Merit: 0
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May 07, 2015, 12:16:34 AM |
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How did GBTC react to the dump? Could they be added to chartbuddy? We need to know the REAL price for BTC. Why can´t i find their REAL price on any other exchange? Could somebody please explain again? I don´t understand!  |
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JorgeStolfi
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May 07, 2015, 12:21:51 AM |
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These kinds of incidents and errors look just like things programs written for Computer Science 101 classes would produce. This isn't some minor rounding error anymore - if true, someone has messed this up big time!
Have you seen the BitGo integer overflow error? (BitGo gave to a lucky user a javascript tool to recover BTC from an old-format wallet. The tool had an integer overflow bug that would send at most 2 32 - 1 satoshi (~40 BTC) to the destination output, leaving everything else as transaction fee. Fortunately the miner was nice and returned the ~80 BTC fee to the user.) |
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YourMother
Legendary
Offline
Activity: 1281
Merit: 1046
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May 07, 2015, 12:24:22 AM |
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How did GBTC react to the dump? Could they be added to chartbuddy? We need to know the REAL price for BTC. Why can´t i find their REAL price on any other exchange? Could somebody please explain again? I don´t understand! A couple of friends and me, we are selling bitcoins back and forth to each other for over 1 thousand a piece every time we meet in the evening. This is the real price of bitcoin. You don't need bitfinex and other shit exchanges like MadrigalCX and GBTGBC exchanges for a price discovery. |
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dreamspark
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May 07, 2015, 12:25:11 AM |
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inb4 Finex rollback
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JorgeStolfi
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May 07, 2015, 12:30:44 AM |
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How did GBTC react to the dump? Could they be added to chartbuddy? We need to know the REAL price for BTC. Why can´t i find their REAL price on any other exchange? Could somebody please explain again? I don´t understand! GBTC data from OTCQX page at end of each day:
Date day's price range day's volume
---------------+----------------------+-------------
2015-05-04 37.98 -- 42.00 765
2015-05-05 55.00 -- 94.86 435
2015-05-06 N/A -- N/A 125
According to a post on the SecondMarket Observer thread, when OTCQX updates the GBTC quote page, it ignores any trades smaller than 100 shares (10 BTC). That is why the daily price range for today is shown as "N/A--N/A" ("not available") even though 125 shares were traded today. Also, OTCQX has the same working hours as NYSE. I don't think one can get better data from other sources; they can only get it from OTCQX. Paying clients of OTCQX apparently have access to the trade log; perhaps someone can find some such client who would leak some hints... EDIT: by the way, OTCQX is not like an ordinary stock or bitcoin exchange. They seem to be more like a central database that collects and merges information from registered brokers; it is the brokers who keep the client's shares and execute the trades. Right? |
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