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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21330119 times)
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seleme
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May 04, 2013, 09:01:48 PM
 #4241

HAHAH someone just bought 345 up so they could sell 345 down, HAHAHA

Gox and their stupid interface, I've done it few times too.
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May 04, 2013, 09:05:22 PM
 #4242

HAHAH someone just bought 345 up so they could sell 345 down, HAHAHA

Gox and their stupid interface, I've done it few times too.

Happened to me last week. Cost me almost $5k.  Cry

Uh, that's a lot... I'll be at least 10-15% better right now if I haven't made tons of such mistakes, wrong calculated fees, currency exchanges etc.. I usually play on safe when trading and I really rarely get burned there but that kind of mistakes had cost me a lot.
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May 04, 2013, 09:06:00 PM
 #4243

I was very optimistic about China news, but then I visited this:

http://bitcoinity.org/markets/btcchina/CNY

I think it's an extremely low volume, it's possible that we are overreacting.

This is not an over reaction. You need to realize that this is a Chinese government sanctioned news outlet. Bitcoin would not be on CCTV if it was not 100% endorsed by the Chinese government.
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May 04, 2013, 09:07:16 PM
 #4244

I was very optimistic about China news, but then I visited this:

http://bitcoinity.org/markets/btcchina/CNY

I think it's an extremely low volume, it's possible that we are overreacting.

This is not an over reaction. You need to realize that this is a Chinese government sanctioned news outlet. Bitcoin would not be on CCTV if it was not 100% endorsed by the Chinese government.

Also btcchina was down for maintenance.
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May 04, 2013, 09:10:10 PM
 #4245

Some people asked for these. So go fetch your red-green glasses



Or red/cyan


Or put on your cinema3d specs (passive 3d monitor not included)

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May 04, 2013, 09:10:33 PM
 #4246

I'm fairly sure that there's far more bids today by people who loved China news story than by Chinese themselves  Grin

Bitcoiners don't need much incentive to stat buying or selling, just give them a news, fake one will do too and gox is banking on fees  Tongue
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May 04, 2013, 09:11:32 PM
 #4247

So... that's exactly like every other market then.
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May 04, 2013, 09:12:25 PM
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I'm fairly sure that there's far more bids today by people who loved China news story than by Chinese themselves  Grin

Bitcoiners don't need much incentive to stat buying or selling, just give them a news, fake one will do too and gox is banking on fees  Tongue

bingo
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May 04, 2013, 09:14:15 PM
 #4249

So... that's exactly like every other market then.

Kinda, yeah, though I think there's more emotions drivel trading at bitcoin market than others, most of other markets are professionals only, most of us here are pure amateurs...

The most interesting part is that huge majority don't even know what was the tune of that Chinese documentary, maybe it wasn't too positive at all, lol
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May 04, 2013, 09:16:38 PM
 #4250

I prefer to think that the strength of the resistance is important, but equally important is the move required to reach it. It is like marching armies to a battle. Sun Tzu writes:

Quote
Thus, if you order your men to roll up their buff-coats, and make forced marches without halting day or night, covering double the usual distance at a stretch, doing a hundred LI in order to wrest an advantage, the leaders of all your three divisions will fall into the hands of the enemy. The stronger men will be in front, the jaded ones will fall behind, and on this plan only one-tenth of your army will reach its destination.

If you march fifty LI in order to outmaneuver the enemy, you will lose the leader of your first division, and only half your force will reach the goal.

If you march thirty LI with the same object, two-thirds of your army will arrive.

You have a certain buying pressure, but if you want to conquer something that is 100 li (about 25%) away, no matter how weak it is, you will certainly fall. After such a move, sellers smell any sign of blood, and the 61% retracement is sure to happen. (This is pretty much my trading strategy: only sell after this move, because you cannot really lose)

If you need to advance 50 li (12.5%) and then demolish the wall, half of the buying pressure is already relieved, and likely the wall will hold. Even if it falls, the chances are great that the region will be revisited sooner or later.

After 30 li (7.5%) you have a mighty power to attack a wall, but even then, the victory is not sure.



good point ...
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May 04, 2013, 09:17:08 PM
 #4251

What beats everything is starting a rally with your wrong order and gaining instead of losing out of pure luck. Smiley
I admire your bot, Richie!
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May 04, 2013, 09:19:26 PM
 #4252

I'm fairly sure that there's far more bids today by people who loved China news story than by Chinese themselves  Grin

Bitcoiners don't need much incentive to stat buying or selling, just give them a news, fake one will do too and gox is banking on fees  Tongue

bingo

There is only one WINNER, but there are second, 3-rd places.
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May 04, 2013, 09:20:29 PM
 #4253

So... that's exactly like every other market then.
Kinda, yeah, though I think there's more emotions drivel trading at bitcoin market than others, most of other markets are professionals only, most of us here are pure amateurs...

I wouldn't say that.

Other markets are usually much, MUCH bigger and thus harder to move one way or the other.

They also have many financial tools not yet available for bitcoiners.

(Shorting is still somewhat limited and I don't think I saw any puts, or other derivatives.)

I have coworkers buying stocks even if they have no ideas how things work. It's just trendy to do so.
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May 04, 2013, 09:25:18 PM
 #4254

Warren Buffett comments on Berkshire Hathaway / Bitcoin:

https://twitter.com/beckyquickcnbc/statuses/330708125671895041

I can't imagine anything better than the debit card system. If I can't imagine it, then not one else can either, so it most certainly cannot ever happen.

Who cares? Buffet doesn't invest in things he cannot understand.

Buffet could have a high class of supernode.
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May 04, 2013, 09:25:28 PM
 #4255

I think the walls permit bitcoin to rise to $119 in a bold move. Afterwards I go to sleep and not post, and the general bullishness erodes, and the bears push the price back to $106. We will not see 100 ever again.

Damn, I was almost there!  Angry If rontus had been working (fortunately he only works about 50 hours of 168 per week, and generally not on Saturdays, and even of his working time, I only give him authority to sell short about 30% of the time, so this is purely of theoretical interest now) he would certainly have smelled the trend change and managed to sell about BTC430 at an average price of $113.2. Then I would have told him to buy back at $103 (he is better in selling but my buyback levels are more spot on).

The 42,500mBTC profit would have enabled our lifestyle for several days...

Well, from your "category list" it seems we are all supernodes... Cool!

Indeed we are. There are only so many bitcoins in the world, and a lowest class supernode is not a U.S. Administration of 100,000 skilled professionals, but an ordinary bloke who bought in any time before March 2013, and has some spare time, and knowledge of English, maths and history. Of course when we go up the ladder, there will be many rpietilas, and in the higher level Goat, MP and Winklewii.

Read the "supernode OP" for more info and comment where appropriate!

Quote
Anyhow, as I said earlier everything look very fishy - I see two options: a) you are delusional and not-very-smart folk who made some money in the wild Bitcoin ride we had lately (not so difficult, we went x10 in just a few months) and now you are riding your very own ego trip, or b) you are preparing a big scam flooding the community with your "i am so wealthy" thing

Why is it so offensive that I live in a classy hotel? The highest burn rate of $200k per month was last week, now I spend at about $50k per month. If I go home and eat noodles, my expenses still run at about $20-30k minimum, since I have staff. Most of the businessmen do, in the real world. Generally their expenses are much higher than mine. I am actually very stingy, compared to most of my friends.

If you think this is excessive for what I manage to accomplish, how about complaining about how your very own tax money is spent in Afghanistan with far less positive effect? I would say the difference is about 4 orders of magnitude, in other words 10,000 times more money totally wasted!

With a rather conservative price prediction for the following 3 months, I estimate a 100% per month increase, which would mean that per every BTC100, you make about $10k first month. A 3rd class supernode can quit eating noodles and start to live. A 2nd class supernode of BTC1,000 can do what I do, and I just await that the real big guys start to benefit the mankind with their stashes.

This is the reason I spend - to show that even a medium BTC-holder can do this! No reason to hate, rather you live up to your own standard, and I live up to mine. If you have at least BTC1,000 as I assume every 2012 or before has (unless he proves otherwise), you can do the same as I do, with ease. Why should I do all the work?? Every city needs at least one supernode, and I am here to help these becoming reality. It is one of the workshops in the summit.

Besides there is no "flooding of community". I post my theoretical observations to my own thread. Then I post my price predictions here, and every time I do, some April 14th troll speaks negatively of me. Then I correct the misunderstanding. In no way I am here to cause disturbance - the instant the OP

Quote
BTW: what about an escrowed bet, so you can put your money where your mouth is? Willing to bet that we will be at $300k/BTC by the end of the year, as you predicted? I'm sure al lot of users in these forums would be willing to join this bet. It's a nice way of hedging - if we win you give us your money, if you win we are all rich anyway, you included, so why not? Cheesy

How about the following:
- You escrow 100 bitcoins for my 1
- You write a 2013 $100,000 call option to your bitcoins, so that I can buy them from you anytime, by just sending you $10 million U.S. Dollars
- If I do not redeem your bitcoins before 31. December 2013, you get my 1 bitcoin as I lose the bet

This way everybody profits. Even if you lose, you get $10 million, and the rest of your bitcoins are worth even more. If I lose, I only lose 1 bitcoin, and I still have a lot (and they were not that valuable anyway..Sad )

Quote
Wouldn't you mind betting repietila?

My middle initial is A.

Risto: man up. You are either spreading BS you don't believe in a ridiculous attempt to talk the price up (you know that's not happening, right?) or you really believe that 1BTC will be above $300k by the end of the year.

If its the latter, I make you an offer you cannot refuse: 2:1 odds at your favor that we won't reach $300k per 1 BTC in this year, and we publish this bet so other members can join up to a maximum total amount you choose. Minimum bet 100BTC
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May 04, 2013, 09:26:39 PM
 #4256

So... that's exactly like every other market then.
Kinda, yeah, though I think there's more emotions drivel trading at bitcoin market than others, most of other markets are professionals only, most of us here are pure amateurs...

I wouldn't say that.

Other markets are usually much, MUCH bigger and thus harder to move one way or the other.

They also have many financial tools not yet available for bitcoiners.

(Shorting is still somewhat limited and I don't think I saw any puts, or other derivatives.)

I have coworkers buying stocks even if they have no ideas how things work. It's just trendy to do so.

Yeah but lot of stocks markets don't let each random Joe to trade on their platforms. You are free to invest but through broker.

Anyone can trade Bitcoins, I don't have a clue about markets and never studied it and I went to trade bitcoins. That's nowhere near standards required for real stuff, my only luck (and luck of most of us here who trade) is that it's extremely volatile market so even if we make mistakes we can fix them doing next trade in another speculative market move.

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May 04, 2013, 09:27:11 PM
 #4257

I admire your bot, Richie!

Now, there's something I wouldn't mind being told more often. Cheesy
seleme
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May 04, 2013, 09:28:39 PM
 #4258

I admire your bot, Richie!

Now, there's something I wouldn't mind being told more often. Cheesy

What bot we are talking about?
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May 04, 2013, 09:33:37 PM
 #4259

I admire your bot, Richie!

Now, there's something I wouldn't mind being told more often. Cheesy

What bot we are talking about?

That 3D wall bot that's posting the wall picture every hour or so.
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May 04, 2013, 09:34:17 PM
 #4260

I admire your bot, Richie!

Now, there's something I wouldn't mind being told more often. Cheesy

Ahh that's why it says automated posting?

I can't read those 3d charts though, they tell me nothing. Can you explain them?
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