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Davyd05
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December 06, 2013, 06:28:23 PM |
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Thoughts on this theory going into the weekend?
Usually we see a decline in price on the weekends, especially near in time to reaching an ATH.
I believe most people attribute this to a lack of new fiat being able to be pumped into the exchanges to purchase BTC with.
But in this case, with a decline preceding the weekend, there is plenty of fiat already on the exchanges. People sold btc and are now holding fiat on the exchanges. Therefore, everything else being equal, isn't it just as likely that we see a rise over the course of this weekend as it is a decline?
On the other hand, there is also unlimited of BTC's that can be added to the exchanges to be sold. or 12,000,000 or so minus -1mil for satoshi and - whatever the feds are holding on to. -whoever is in cold storage clearly not unlimited lol |
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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accord01
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December 06, 2013, 06:29:36 PM |
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Thoughts on this theory going into the weekend?
Usually we see a decline in price on the weekends, especially near in time to reaching an ATH.
I believe most people attribute this to a lack of new fiat being able to be pumped into the exchanges to purchase BTC with.
But in this case, with a decline preceding the weekend, there is plenty of fiat already on the exchanges. People sold btc and are now holding fiat on the exchanges. Therefore, everything else being equal, isn't it just as likely that we see a rise over the course of this weekend as it is a decline?
On the other hand, there is also unlimited of BTC's that can be added to the exchanges to be sold. or 12,000,000 or so minus -1mil for satoshi and - whatever the feds are holding on to. -whoever is in cold storage clearly not unlimited lol well i was kind of looking at it like a revolving door, where btc's sold could get re sold at lower prices... |
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accord01
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December 06, 2013, 06:30:27 PM |
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Oh man, stamp is going to drag mtgox below 900
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gandhibt
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December 06, 2013, 06:30:33 PM |
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Gox's fees are too high. It is unprofitable to trade there.
Yep, so much nicer to pay 0.2 at stamp. stamp is so difficult to trade when panic occurs as the order book is so anemic. Btcchina No Fee, plenty of newbie and fat book , that must be yummy.. I don't use/look order book when I trade fast. |
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Hfertig
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December 06, 2013, 06:32:21 PM |
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Thoughts on this theory going into the weekend?
Usually we see a decline in price on the weekends, especially near in time to reaching an ATH.
I believe most people attribute this to a lack of new fiat being able to be pumped into the exchanges to purchase BTC with.
But in this case, with a decline preceding the weekend, there is plenty of fiat already on the exchanges. People sold btc and are now holding fiat on the exchanges. Therefore, everything else being equal, isn't it just as likely that we see a rise over the course of this weekend as it is a decline?
On the other hand, there is also unlimited of BTC's that can be added to the exchanges to be sold. or 12,000,000 or so minus -1mil for satoshi and - whatever the feds are holding on to. -whoever is in cold storage clearly not unlimited lol You are right, not unlimited. But just guess what is going to happen if just 5% of all coins hit the exchanges.... Not that I am expecting this... |
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micalith
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December 06, 2013, 06:34:41 PM |
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LTC, btcchina, and btc-e have broken through the floor. Bitstamp and Gox, it's up to you . . .
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Feri22
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December 06, 2013, 06:36:35 PM |
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chriswilmer
Legendary
 Offline
Activity: 1008
Merit: 1000
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December 06, 2013, 06:40:07 PM |
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Guys, I bought back in! To the moooooooooon!
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Davyd05
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December 06, 2013, 06:40:26 PM |
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sigh, wussed out closed my position @ 926. But just started a new short @ 911, forgot today is only friday morning.
go for 850 why not. 850's looking eh  if it munches the 1k sell wall at 900 ill sell some too |
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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December 06, 2013, 06:40:56 PM |
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This definitely looks like coordinated action by several central banks. In other news, $900 taking a beating. |
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derpinheimer
Legendary
Offline
Activity: 896
Merit: 1000
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December 06, 2013, 06:41:02 PM |
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Down with 900 :/
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accord01
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December 06, 2013, 06:41:13 PM |
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Gox is about to dip below 900. to the above post, you should have held firm, this is falling more.
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UnDerDoG81
Legendary
Offline
Activity: 2179
Merit: 1201
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December 06, 2013, 06:41:18 PM |
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WTH its the end  |
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Walsoraj
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December 06, 2013, 06:41:37 PM |
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As we bounce up and down, the total bid sum is vanishing quite fast.
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mmitech
Legendary
Offline
Activity: 1148
Merit: 1001
things you own end up owning you
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December 06, 2013, 06:41:45 PM |
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in this case I am gonna say it guys, it wont heart if you take some profits before it is late, we came from $100 to $1240 in 2 months....
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Vigil
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December 06, 2013, 06:45:21 PM |
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BTC950 sold into in like 60 sec.
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Walsoraj
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December 06, 2013, 06:46:48 PM |
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Ahaha, Gox is sinking faster than btce and campbx. wow.
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maz
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December 06, 2013, 06:46:58 PM |
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As we bounce up and down, the total bid sum is vanishing quite fast.
Buy orders at 100 Sir! |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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December 06, 2013, 06:48:30 PM |
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as always i buy when this thread goes full bear.
also, their always a huge amount of lag when i buy.
weirdness.
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