rebuilder
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Activity: 1615
Merit: 1000
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December 15, 2015, 06:49:09 AM |
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So, to pick the more relevant strain of off-topicness here: Do I understand correctly that the Ripple ledger is unaffected, but the main way people traded XRP for other currencies is now being shut down? And some way to transfer XRP from user to user will still exist even after Ripple Trade closes?
I haven't followed Ripple closely, but frankly, I think it's good news if it fails this way. The failure mode I was worried about was a series of cascading credit defaults if the system really took off. Never saw any reason to think that wouldn't happen, so good riddance as far as I'm concerned.
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TERA
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December 15, 2015, 06:51:40 AM |
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 I'm sorry. How can anyone be comfortable with the walls looking like THIS? Before the last rally from $375 to $475, a huge wall base built up and the bids looked 3x bigger than the asks. Now it just looks like it could go for another Friday. Longs are also even higher than before at $27.1M |
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spooderman
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Activity: 1638
Merit: 1022
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December 15, 2015, 06:53:59 AM |
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i take my comfort in the price alone. the bids/asks are just manipulation if you ask me. who knows what's really going on behind the scenes at these exchanges?
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peonminer
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December 15, 2015, 06:56:02 AM |
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i take my comfort in the price alone. the bids/asks are just manipulation if you ask me. who knows what's really going on behind the scenes at these exchanges?
+1 If you watch a quad chart live with finex, stamp, huobi, and okcoin, you will laugh at all of the sell walls that are constantly eaten by the tiniest bid walls. It's all planned to make you think the market is doing the opposite. |
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TERA
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December 15, 2015, 06:58:41 AM |
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I'm mostly looking at the buy side, not the sell side.
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DaRude
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Activity: 2779
Merit: 1791
In order to dump coins one must have coins
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December 15, 2015, 06:59:10 AM |
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I'm sorry. How can anyone be comfortable with the walls looking like THIS? Before the last rally from $375 to $475, a huge wall base built up and the bids looked 3x bigger than the asks. Now it just looks like it could go for another Friday. Longs are also even higher than before at $27.1M One word China. $27MM longs at ~24%/yr with only BTC6k in shorts! Yet we keep going up... It's not a one exchange player anymore. That's not to say Finex won't flash crash to shed those longs :/ |
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peonminer
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December 15, 2015, 07:00:31 AM |
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I'm mostly looking at the buy side, not the sell side.
The fact that the bids were stacked up so high and close, was what caused the super fast run up, hence a large correction crash. This is more organic. (Beginning stages of a large pump). |
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ChartBuddy
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 15, 2015, 07:00:41 AM |
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spooderman
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Activity: 1638
Merit: 1022
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December 15, 2015, 07:00:51 AM |
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what's so bad about the bid side? staggered walls making u think it's all one person? or just not as high as it should be?
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Cconvert2G36
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December 15, 2015, 07:01:02 AM |
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i take my comfort in the price alone. the bids/asks are just manipulation if you ask me. who knows what's really going on behind the scenes at these exchanges?
Remember that massive bid wall on that failed 317 run? Yeah, that didn't work out so well for bulls in the short term. At least it was mostly real... turned out pretty well for the bidder. If someone really wants to buy, why telegraph that to the potential sellers? Same for the asks, why chase down the price if you want to sell higher? Not saying that the on-book data is useless, but close. |
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marcus_of_augustus
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Activity: 3920
Merit: 2348
Eadem mutata resurgo
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December 15, 2015, 07:01:22 AM |
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TERA : the walls have changed a lot since you've been gone ... they are totally fake now and change in the space of minutes and seconds even.
Some guys had a massive bear whale wall on BearStamp for almost 18 months, it sat just above the ask and moved around all the time but never went away ...
wall observing is just a joke now, so we get this comedy show here ... but damn some of the wordsmithing and gif selection is just choice and funny as hell.
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peonminer
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December 15, 2015, 07:02:40 AM |
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TERA : the walls have changed a lot since you've been gone ... they are totally fake now and change in the space of minutes and secinds even.
Some guys had a massive bear whale on BearStamp for almost 18 months, it sat just above the ask and moved around all the time but never went away ...
wall observing is just a joke now, so we get this comedy show here ... but damn some of the wordsmithing and gif selection is just choice and funny as hell.
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TERA
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December 15, 2015, 07:13:27 AM |
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Actually the location where the bid kept getting huge between $360 and $400.. hasn't been touched. $402 was the bottom even after the 'crash'. So when I thought $380 was a good time to buy with that huge bid, it will still a good call. Afer that, it wasn't till multiple days of the bid getting smaller and smaller until the drop happened.
I don't know. I still believe a really big bid side is sort of an objective sign that there is more money on an exchange. It isn't all about a one man chess game with an accumulating buyer but about the growth of the exchange in general.
Maybe I'm wrong. However, at the very least a large bid gives me sort of a guarantee that I won't be liquidated from one little market order.
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spooderman
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Activity: 1638
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December 15, 2015, 07:32:40 AM |
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thanks. you're one of the few people worth listening to around here. not that i ever buy and sell mind you...  |
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koryu
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December 15, 2015, 07:32:57 AM |
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I'm sorry. How can anyone be comfortable with the walls looking like THIS? Before the last rally from $375 to $475, a huge wall base built up and the bids looked 3x bigger than the asks. Now it just looks like it could go for another Friday. Longs are also even higher than before at $27.1M yes it looks a bit scary and seems like double top possible. but click on btcchina and check its orderbook. they have nearly 2:1 bid ask ratio (10k btc to 2500cny, 5k btc to 3500cny), demand is in china, imo without china this prolly would have droped down already. |
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r0ach
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Activity: 1260
Merit: 1000
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December 15, 2015, 07:37:46 AM |
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People in the west are just proceeding cautiously until new floors are established by China. Once China manages to hold certain levels for a long time, then the west builds walls there.
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TERA
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December 15, 2015, 07:39:18 AM |
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I think saying "the demand is in China' quite possibly one of the most bearish things you can say, after everything that happened in 2013-2014 with PBOC and all the fake volume. I came back here after 2 years expecting Chinese would be completely factored out of the price levels by now and that everything would be based on USD and adoption. I even expected it would be $1000 by now, all based on USD and adoption. Saying that $460 is 'supported by China' is like going way back in time and being a bear.
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peonminer
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December 15, 2015, 07:56:07 AM |
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It is what it is, and what it is, is up.
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ChartBuddy
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December 15, 2015, 08:00:43 AM |
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r0ach
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Activity: 1260
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December 15, 2015, 08:04:46 AM |
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I think saying "the demand is in China' quite possibly one of the most bearish things you can say, after everything that happened in 2013-2014 with PBOC and all the fake volume. I came back here after 2 years expecting Chinese would be completely factored out of the price levels by now and that everything would be based on USD and adoption. I even expected it would be $1000 by now, all based on USD and adoption. Saying that $460 is 'supported by China' is like going way back in time and being a bear.
In the west you have the traditional barons of industry trying to suppress price and accumulate and pump later. In China, they have more immediate utility to use it to move money out of the country, so the spread is higher there, which means the West is forced to trail China and only build support after China has proven that level to be stable. |
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