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dakota neat
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May 07, 2015, 01:08:25 PM |
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price keeps artificially supressed by london bearwhale team and followers. make use of them as your tools.
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Wings1987
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May 07, 2015, 01:09:16 PM |
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What about the theories that the event last night was only foiled by Finex's trade/margin-engine malfunctioning!? Do you buy that rumour or can we safely assume that support simply held and the bears just plain failed to crash the market?
I have not been following that issue on Reddit close enough to comment. Watching the events unfold last night it just looked like selling/shorting into solid support. What specifically are people saying happened? |
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D05GTO
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May 07, 2015, 01:10:52 PM |
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Yeah, looked a lot more like hitting Iceberg buy orders. Those were some big icebergs too. That had to hurt.
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Bagatell
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May 07, 2015, 01:15:30 PM |
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What about the theories that the event last night was only foiled by Finex's trade/margin-engine malfunctioning!? Do you buy that rumour or can we safely assume that support simply held and the bears just plain failed to crash the market?
I have not been following that issue on Reddit close enough to comment. Watching the events unfold last night it just looked like selling/shorting into solid support. What specifically are people saying happened? |
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minerpumpkin
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May 07, 2015, 01:17:16 PM |
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What about the theories that the event last night was only foiled by Finex's trade/margin-engine malfunctioning!? Do you buy that rumour or can we safely assume that support simply held and the bears just plain failed to crash the market?
I have not been following that issue on Reddit close enough to comment. Watching the events unfold last night it just looked like selling/shorting into solid support. What specifically are people saying happened? I can't find the exact discussions or theories on reddit at the moment, but even though I feel guilty linking this site, look at the second paragraph: http://shitco.in/2015/05/07/bitfinex-appears-to-have-crossed-streams-btc-crash-on-hold/. I know, take this with a HUGE grain of salt, but it's always worth to consider all the sides there are to a story. The exact theory for this incident is still missing, though! |
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Bagatell
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May 07, 2015, 01:19:54 PM |
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I can't find the exact discussions or theories on reddit at the moment,
See my link above. From the thread "while integrating Alphapoint our margin check system was disabled for a period of time." |
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Fatman3001
Legendary
 Offline
Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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May 07, 2015, 01:20:29 PM |
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What about the theories that the event last night was only foiled by Finex's trade/margin-engine malfunctioning!? Do you buy that rumour or can we safely assume that support simply held and the bears just plain failed to crash the market?
I have not been following that issue on Reddit close enough to comment. Watching the events unfold last night it just looked like selling/shorting into solid support. What specifically are people saying happened? I can't find the exact discussions or theories on reddit at the moment, but even though I feel guilty linking this site, look at the second paragraph: http://shitco.in/2015/05/07/bitfinex-appears-to-have-crossed-streams-btc-crash-on-hold/. I know, take this with a HUGE grain of salt, but it's always worth to consider all the sides there are to a story. The exact theory for this incident is still missing, though! |
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Chainsaw
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May 07, 2015, 01:27:49 PM |
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https://www.reddit.com/r/BitcoinMarkets/comments/353yu8/bitfinex_having_serious_lag_issues_be_very/zanetackett has posted from Bitfinex: "Hey everyone, The issue has been fixed. We're looking into exactly what happened now and I'll be sure to post a detailed explanation in the future. Please don't hesitate to reach out to me with any problems that this may have caused you and I'll try to get it fixed asap. Sorry for the inconvenience." ....... "We know what the problem was; while integrating Alphapoint our margin check system was disabled for a period of time. Now we need to get the exact details of why this happened."
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inca
Legendary
Offline
Activity: 1176
Merit: 1000
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May 07, 2015, 01:29:47 PM |
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price keeps artificially supressed by london bearwhale team and followers. make use of them as your tools.
I'm just patiently waiting for this 5000 coin sale to go through on GBTC.. Being short now is like being long at 1000 dollars. What bears don't seem to realise is that most bitcoin bulls are happy to buy at these prices and support the mining supply and then some. The BTFD mentality gets stronger the lower the price is forced because bulls know it is likely to rise again. We have been here before (myself twice). Bitcoin is a demonstration of how price manipulation is easy - both up and down - un unregulated markets. It is simply an artificial destabilisation of supply and demand - principally by selling large numbers of coins into the market all at once, overwhelming the real bids with artificial asks. But the only point of doing that (unless it is a nefarious party like a central bank) is for profit - either by gaining coins by relying on sheep traders to momentum sell the price lower for you, or, by shorting and using derivatives at the same time as you sell. Manipulation works until it doesn't. Since the 160 bottom where a huge amount of coins were purchased we have seen 5 attempts to break down through resistance between 200 and 220. Each have been rebuffed. Last night was a clear attempt to push us into or through that range. In my mind the difference now is that I will only increase my buying in response to such artificial selling. |
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Wings1987
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May 07, 2015, 01:30:32 PM |
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I just scanned the reddit threads. Interested to me that most of the complaints are from people with low volume accounts. (5-6 BTC) I guess it makes sense that the big players would not be posting on Reddit.
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Fatman3001
Legendary
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Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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May 07, 2015, 01:35:58 PM
Last edit: May 07, 2015, 01:49:31 PM by Fatman3001 |
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https://www.reddit.com/r/BitcoinMarkets/comments/353yu8/bitfinex_having_serious_lag_issues_be_very/zanetackett has posted from Bitfinex: "Hey everyone, The issue has been fixed. We're looking into exactly what happened now and I'll be sure to post a detailed explanation in the future. Please don't hesitate to reach out to me with any problems that this may have caused you and I'll try to get it fixed asap. Sorry for the inconvenience." ....... "We know what the problem was; while integrating Alphapoint our margin check system was disabled for a period of time. Now we need to get the exact details of why this happened." "Why would people want to buy shares in a fund when they can just send their money to Bitstamp or Bitfinex?" "Siiiiir, I know, I know, pick meeeee!" |
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 07, 2015, 01:42:15 PM |
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https://www.reddit.com/r/BitcoinMarkets/comments/353yu8/bitfinex_having_serious_lag_issues_be_very/zanetackett has posted from Bitfinex: "Hey everyone, The issue has been fixed. We're looking into exactly what happened now and I'll be sure to post a detailed explanation in the future. Please don't hesitate to reach out to me with any problems that this may have caused you and I'll try to get it fixed asap. Sorry for the inconvenience." ....... "We know what the problem was; while integrating Alphapoint our margin check system was disabled for a period of time. Now we need to get the exact details of why this happened." what doesn't kill you only makes you stronger. very good. |
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uhoh
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May 07, 2015, 01:43:19 PM |
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Actually don't remember the last time that the bid side looked so healthy on Finex. Reminds me of mtgoxlive.com!
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Fatman3001
Legendary
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Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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May 07, 2015, 01:47:11 PM |
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https://www.reddit.com/r/BitcoinMarkets/comments/353yu8/bitfinex_having_serious_lag_issues_be_very/zanetackett has posted from Bitfinex: "Hey everyone, The issue has been fixed. We're looking into exactly what happened now and I'll be sure to post a detailed explanation in the future. Please don't hesitate to reach out to me with any problems that this may have caused you and I'll try to get it fixed asap. Sorry for the inconvenience." ....... "We know what the problem was; while integrating Alphapoint our margin check system was disabled for a period of time. Now we need to get the exact details of why this happened." what doesn't kill you only makes you stronger. very good. Yeah, like Stephen Hawking. Fit as a fiddle. |
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Chainsaw
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May 07, 2015, 01:54:33 PM |
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I just scanned the reddit threads. Interested to me that most of the complaints are from people with low volume accounts. (5-6 BTC) I guess it makes sense that the big players would not be posting on Reddit.
They would be more prone to going bankrupt from the error than a larger holder. It appears that the BTC and USD streams crossed. If I hold 5,000 BTC, my position will be affected less if my 0.23 BTC buy for $234.99 changes to a 234.99 BTC buy at $0.23. The large stakeholders would not be bankrupted, but would serve as 'go fully long/short at current prices'. They'd know an issue occurred, and be able to have it cleaned up without it totally stopping their trading in the interim. Small stakeholders may have gone from a 0.4 BTC account, to owing $17,000. Their wheel will squeak more. |
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ChartBuddy
Legendary
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Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 07, 2015, 01:57:59 PM |
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Fatman3001
Legendary
Offline
Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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May 07, 2015, 02:04:35 PM |
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I just scanned the reddit threads. Interested to me that most of the complaints are from people with low volume accounts. (5-6 BTC) I guess it makes sense that the big players would not be posting on Reddit.
They would be more prone to going bankrupt from the error than a larger holder. It appears that the BTC and USD streams crossed. If I hold 5,000 BTC, my position will be affected less if my 0.23 BTC buy for $234.99 changes to a 234.99 BTC buy at $0.23. The large stakeholders would not be bankrupted, but would serve as 'go fully long/short at current prices'. They'd know an issue occurred, and be able to have it cleaned up without it totally stopping their trading in the interim. Small stakeholders may have gone from a 0.4 BTC account, to owing $17,000. Their wheel will squeak more. Crossed streams?!?! That sounds like the first thing you make sure never happens. These exchanges are like sausages. The more you know about them, the less you like them. Ok, I think I'm done ranting. |
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Norway
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May 07, 2015, 02:10:23 PM |
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I just scanned the reddit threads. Interested to me that most of the complaints are from people with low volume accounts. (5-6 BTC) I guess it makes sense that the big players would not be posting on Reddit.
They would be more prone to going bankrupt from the error than a larger holder. It appears that the BTC and USD streams crossed. If I hold 5,000 BTC, my position will be affected less if my 0.23 BTC buy for $234.99 changes to a 234.99 BTC buy at $0.23. The large stakeholders would not be bankrupted, but would serve as 'go fully long/short at current prices'. They'd know an issue occurred, and be able to have it cleaned up without it totally stopping their trading in the interim. Small stakeholders may have gone from a 0.4 BTC account, to owing $17,000. Their wheel will squeak more. Crossed streams?!?! That sounds like the first thing you make sure never happens. These exchanges are like sausages. The more you know about them, the less you like them. Ok, I think I'm done ranting.  |
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ThatDGuy
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May 07, 2015, 02:11:10 PM |
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I'm just patiently waiting for this 5000 coin sale to go through on GBTC..
Being short now is like being long at 1000 dollars. What bears don't seem to realise is that most bitcoin bulls are happy to buy at these prices and support the mining supply and then some. The BTFD mentality gets stronger the lower the price is forced because bulls know it is likely to rise again. We have been here before (myself twice).
Bitcoin is a demonstration of how price manipulation is easy - both up and down - un unregulated markets. It is simply an artificial destabilisation of supply and demand - principally by selling large numbers of coins into the market all at once, overwhelming the real bids with artificial asks. But the only point of doing that (unless it is a nefarious party like a central bank) is for profit - either by gaining coins by relying on sheep traders to momentum sell the price lower for you, or, by shorting and using derivatives at the same time as you sell.
Manipulation works until it doesn't. Since the 160 bottom where a huge amount of coins were purchased we have seen 5 attempts to break down through resistance between 200 and 220. Each have been rebuffed. Last night was a clear attempt to push us into or through that range.
In my mind the difference now is that I will only increase my buying in response to such artificial selling.
Great points here and think they bear (bull?) repeating. |
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