RationalSpeculator
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Activity: 294
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This bull will try to shake you off. Hold tight!
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July 31, 2013, 09:08:28 PM |
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The gox exodus doesn't explain the strong buying happening on bitstamp. Someone wants coins really bad there and I highly doubt this to be arbitrageurs as the risk seems too high for their fiat stuck on gox.
It's called delayed arbitrage. Since gox still has the highest volume the other exchanges are following it. It's a pretty riskless profiting opportunity to just buy after a certain amount of coins have been bought on gox. You don't have to wire money just sell at a little gain and repeat. ok, but if you sell again you in fact didn't buy anything on bitstamp, and still the price follows gox. The one buying from you does support a higher price on stamp. Someone in the end really wants those coins on bitstamp too and is supporting the price to go up, right? |
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ElectricMucus
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Marketing manager - GO MP
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July 31, 2013, 09:16:59 PM |
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The gox exodus doesn't explain the strong buying happening on bitstamp. Someone wants coins really bad there and I highly doubt this to be arbitrageurs as the risk seems too high for their fiat stuck on gox.
It's called delayed arbitrage. Since gox still has the highest volume the other exchanges are following it. It's a pretty riskless profiting opportunity to just buy after a certain amount of coins have been bought on gox. You don't have to wire money just sell at a little gain and repeat. ok, but if you sell again you in fact didn't buy anything on bitstamp, and still the price follows gox. The one buying from you does support a higher price on stamp. Someone in the end really wants those coins on bitstamp too and is supporting the price to go up, right? Well the if you keep the gain in Bitcoins then price will end up higher after it. So in a way it depends on the sediment, but since the price of gox pretty much drives sediment we end up with this. Also the most gain from this strategy (but also the most risky) is to send the profits in Bitcoins to gox. |
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oda.krell
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Merit: 1007
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July 31, 2013, 09:19:18 PM |
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I'm wondering where some of you are getting the idea that the trend is about to reverse. Because of the 5 USD retracement we just saw? Or maybe I'm missing something that the candle watchers can see but I cannot.
The way I see it, it's not entirely clear if, in the short term (24-48h) we'll continue to go up or will stabilize at this level, but I see very little indication that we're going down right now.
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molecular
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Merit: 1019
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July 31, 2013, 09:33:26 PM |
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I'm wondering where some of you are getting the idea that the trend is about to reverse. Because of the 5 USD retracement we just saw? Or maybe I'm missing something that the candle watchers can see but I cannot.
The way I see it, it's not entirely clear if, in the short term (24-48h) we'll continue to go up or will stabilize at this level, but I see very little indication that we're going down right now.
you have a point. EDIT: I misunderstood you, I thought you said we're still in a downtrend and you don't see reversal into uptrend. lol. The way I see it: - If we break $115 the 2.5-month-long downtrend is broken and we're in a 1-month-long uptrend.
- If we break $67 the downtrend continues.
- before any of that happens, we're not clearly trending in any timeframe >= 1 month.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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July 31, 2013, 09:44:35 PM |
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A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY! |
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Frozenlock
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July 31, 2013, 09:50:36 PM |
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A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY! Which one... mastercoins, or bitcoins?  |
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rampantparanoia
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July 31, 2013, 09:51:48 PM |
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A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY! Which one... mastercoins, or bitcoins? I'll wait for VisaCoins. |
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oda.krell
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July 31, 2013, 09:55:18 PM |
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[...] The way I see it: - If we break $115 the 2.5-month-long downtrend is broken and we're in a 1-month-long uptrend.
- If we break $67 the downtrend continues.
- before any of that happens, we're not clearly trending in any timeframe >= 1 month.
Yeah, guess I should have been more explicit. Our time frames are very different  I rarely if ever look at something that long. My point was, in the past 7 days we went from 95 to 110/111, now back to ~106. I don't even want to look ahead 7 days, but for the coming day or two, I don't see the current uptrend fizzling out just yet. |
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Traktion
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July 31, 2013, 10:05:51 PM |
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I'm wondering where some of you are getting the idea that the trend is about to reverse. Because of the 5 USD retracement we just saw? Or maybe I'm missing something that the candle watchers can see but I cannot.
The way I see it, it's not entirely clear if, in the short term (24-48h) we'll continue to go up or will stabilize at this level, but I see very little indication that we're going down right now.
 That's what I'm seeing anyway. |
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scarsbergholden
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July 31, 2013, 10:29:08 PM |
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That's what I'm seeing anyway.
The volume trend line isn't nearly as linear as that. Head and shoulders may confirm but I think we bounce at 103-104. |
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Traktion
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July 31, 2013, 11:13:21 PM |
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That's what I'm seeing anyway.
The volume trend line isn't nearly as linear as that. Head and shoulders may confirm but I think we bounce at 103-104. Sure, it was only supposed to be indicative. The volume has fallen at each buying period. The below shows it more clearly:  Anyway, it will be interesting to see how it pans out. |
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vokain
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July 31, 2013, 11:19:05 PM |
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Goooo slow grind!!
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Chang Hum
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August 01, 2013, 03:59:51 AM |
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[/quote]
The volume has fallen at each buying period.
[/quote]
This could be a reflection of MTgox users cashing USD by purchasing Bitcoins on gox to sell at other exchanges. I think this will carry on for another couple of weeks pushing prices artificially higher, therefore maybe until Gox sort there problems out it's better to look at human behavior than lines on charts.
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ChartBuddy
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Activity: 2156
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 01, 2013, 04:01:01 AM |
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derpinheimer
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August 01, 2013, 04:06:48 AM |
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Asks up about 25% from the low, but still at a pretty weak 90k.
Bids only down about 7% from the high. Still room to go up?
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 01, 2013, 05:01:07 AM |
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KeyserSoze
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August 01, 2013, 05:26:05 AM |
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Virwox also does a neat trick where when you purchase using paypal they use a different name each time.
This is what Full Tilt Poker was doing with credit cards before they were seized by U.S. Gov. |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 01, 2013, 06:01:01 AM |
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molecular
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Activity: 2772
Merit: 1019
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August 01, 2013, 06:25:33 AM |
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A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY! this is either extremely crazy good stuff or a very well-executed scam. |
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gandhibt
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August 01, 2013, 06:55:30 AM |
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A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY! this is either extremely crazy good stuff or a very well-executed scam. There's a thin line between, time will tell for sure. |
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