JayJuanGee
Legendary
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Activity: 3850
Merit: 10881
Self-Custody is a right. Say no to"Non-custodial"
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September 25, 2015, 06:45:49 AM |
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seemingly the same amounts being sold & bought repeatedly
Ye I just saw that. Broken bot or volume manipulation ? Funny whether other exchanges will follow, or we end up stuck in the mid-$230s... then over the weekend, isnt there more likely fuel for dumping rather than pumping? Then we will be back to $227-ish?
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JayJuanGee
Legendary
Online
Activity: 3850
Merit: 10881
Self-Custody is a right. Say no to"Non-custodial"
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September 25, 2015, 06:47:30 AM |
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That's actually really disturbing. Are you a bot, BMB? HELLO FELLOW HUMAN. HOW ARE YOU ENJOYING BEING A CARBON-BASED BIPEDAL LIFEFORM? I AM HAPPY That's disturbing.
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LMGTFY
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September 25, 2015, 06:51:40 AM |
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shorts and long rate prices are ridiculously cheap on bitfinex. Both sides are going down. Are people moving to bitstamp and just quiting margin trading?
Partly. There was a drop in volume at Bitfinex, and an increase at Stamp, the last time 'finex's trading engine displayed jitters (e.g. problems closing positions, problems withdrawing). However, the short (BTC) rate isn't actually that cheap - check out the rate over the long term, it tends to decline to 0.0055% (daily) - right now the FRR is 0.015%, and actual rates (the rates people actually lend/borrow at) are a bit below 0.01%. I've never looked at USD lending/borrowing on 'finex, so can't comment on that side on things.
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Fiat_Hodler
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September 25, 2015, 06:53:56 AM |
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seemingly the same amounts being sold & bought repeatedly
Ye I just saw that. Broken bot or volume manipulation ? Funny whether other exchanges will follow, or we end up stuck in the mid-$230s... then over the weekend, isnt there more likely fuel for dumping rather than pumping? Then we will be back to $227-ish? If you look at the volume on a larger scale it actually looks like massive volumes of BTC were purchased on Bitstamp. still theres no telling if its real or fake. If its real then some massive companies are accumulating tens of thousands of coins (the volume on bitstamp would actually be unbelievable in this case and bitfinex would no longer be the largest exchange). If its fake, then who is paying the trading fees and why? or is bitstamp themselves faking the volume like the chinese exchanges always do?
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Fiat_Hodler
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September 25, 2015, 06:54:55 AM |
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shorts and long rate prices are ridiculously cheap on bitfinex. Both sides are going down. Are people moving to bitstamp and just quiting margin trading?
Partly. There was a drop in volume at Bitfinex, and an increase at Stamp, the last time 'finex's trading engine displayed jitters (e.g. problems closing positions, problems withdrawing). However, the short (BTC) rate isn't actually that cheap - check out the rate over the long term, it tends to decline to 0.0055% (daily) - right now the FRR is 0.015%, and actual rates (the rates people actually lend/borrow at) are a bit below 0.01%. I've never looked at USD lending/borrowing on 'finex, so can't comment on that side on things. https://bfxdata.com/swaphistory/totals
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brg444
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September 25, 2015, 07:02:16 AM |
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I am in the same boat as you are and IIRC got into the game at the same time as you did. Don't sweat it for a second and continue accumulating. I know you are sitting on a pretty stash right now and I'd kill for this amount of BTC. If there is one thing I have to thank the block size debate for is that I barely watch charts or the price anymore. I could care less if we drop to 100$ tomorrow. Bitcoin is the only prospect left on this side of the earth for monetary sovereignty and unless you are going to drop dead in the next 5 years you are going to need it as we venture into what's likely to be a very turbulent next decade or two. . I suggest you watch this excellent interview for a fresh perspective on where we are at. https://www.youtube.com/watch?v=uHXfEJD6DUkYes, it feels pretty good to have a decent stash of BTC, even though they are currently in the red.... I watched the youtube video, and I would suggest that Trace is a very smart guy, but he doesn't really come off as being very objective... and like he seems to be pushing an agenda that is so much money driven that sometimes he seems to be losing some necessary compassion for non-monetary considerations and some times the necessity for collaboration and consensus,... even if some of those practices may NOT always be the most efficient way to go. Non-monetary considerations are the reason hundreds of millions of dollars are being wasted as we speak chasing pipe-dreams of mainstream retail adoption. What he advocates is a return to the basics. An introspection into what makes Bitcoin great in the first place and how far we have come into picking the low-hanging fruits that will drive real adoption and growth as an economy. People tend to forget that this is what Bitcoin is: an economy, and an economy is not built on BTC grocery bags, fancy "killer apps" and "science projects", it is built on capital investment. I remember a talk from him back in early 2014 about how Bitcoin is a storage tank, others often use the term a battery, for capital to pour in from other markets worldwide looking to be stored in & benefit from Bitcoin's unique monetary properties. Some people have seemingly lost track of these properties and are attempting to turn Bitcoin into a payment processing business in which it has no chance of competing with the existing industry incumbents. We'd all love for Bitcoin to be ubiquitous as a currency but until a majority of people get paid in BTC and hold a considerable amount of their wealth in it these promises can not be realized. For very understandable economic reasons fiat will continue to remain the dominant transactional currency for years to come. Gresham's law will make sure of that and if we are to sell Bitcoin to potential adopters it should be on its merits as a deflationary store-of-value. Leave all that commercial consumerism to inflationary fiat currencies. "Fiat runs, Bitcoin rests."
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ChartBuddy
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Activity: 2310
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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September 25, 2015, 07:02:33 AM |
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ElectricMucus
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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September 25, 2015, 07:03:12 AM |
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90% of this forum is probably in denial about it. Also let me gloat for a minute for calling Bitpays business model unsustainable way back. itshappening.gif
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itod
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Activity: 1974
Merit: 1077
^ Will code for Bitcoins
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September 25, 2015, 07:39:27 AM |
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Also let me gloat for a minute for calling Bitpays business model unsustainable way back.
What can possible be unsustainable with any payment processor business model?
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brg444
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September 25, 2015, 07:41:03 AM |
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Also let me gloat for a minute for calling Bitpays business model unsustainable way back.
What can possible be unsustainable with any payment processor business model? One that claims 0% fees on transactions? Surely you're kidding...
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brg444
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September 25, 2015, 07:44:11 AM |
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90% of this forum is probably in denial about it. Also let me gloat for a minute for calling Bitpays business model unsustainable way back. itshappening.gif I still can't believe VCs were willing to plow 30M$ into this company..you truly have to wonder wtf these guys are thinking sometimes.
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hdbuck
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Activity: 1260
Merit: 1002
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September 25, 2015, 07:45:03 AM |
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90% of this forum is probably in denial about it. Also let me gloat for a minute for calling Bitpays business model unsustainable way back. itshappening.gif I still can't believe VCs were willing to plow 30M$ into this company..you truly have to wonder wtf these guys are thinking sometimes. well bitcoin was not meant to be a payment processor à la visa/paypal it seems.. *btw, pedo spotted: http://valleywag.gawker.com/the-bitcoin-broker-and-the-13-year-old-girl-in-the-biki-1563202590
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brg444
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September 25, 2015, 07:54:06 AM |
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90% of this forum is probably in denial about it. Also let me gloat for a minute for calling Bitpays business model unsustainable way back. itshappening.gif I still can't believe VCs were willing to plow 30M$ into this company..you truly have to wonder wtf these guys are thinking sometimes. well bitcoin was not meant to be a payment processor à la visa/paypal it seems.. *btw, pedo spotted: http://valleywag.gawker.com/the-bitcoin-broker-and-the-13-year-old-girl-in-the-biki-1563202590ewwwwww what a creep.
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brg444
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September 25, 2015, 07:55:48 AM |
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nice little price movement this morning
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ChartBuddy
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Activity: 2310
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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September 25, 2015, 08:02:29 AM |
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coinpr0n
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September 25, 2015, 08:10:23 AM |
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Well Bitpay has contributed some pretty awesome open source code to the community [probably thanks to that VC money]. But maybe it's a good time to make deep copies of the code in case they disappear tomorrow.
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CEG5952
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September 25, 2015, 08:33:47 AM |
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According to ecoin.eu charts at the moment, the price are good and might continue to rise for awhile. Or am I wrong?
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ChartBuddy
Legendary
Offline
Activity: 2310
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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September 25, 2015, 09:02:59 AM |
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Fatman3001
Legendary
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Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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September 25, 2015, 09:17:33 AM |
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seemingly the same amounts being sold & bought repeatedly
Ye I just saw that. Broken bot or volume manipulation ? Funny whether other exchanges will follow, or we end up stuck in the mid-$230s... then over the weekend, isnt there more likely fuel for dumping rather than pumping? Then we will be back to $227-ish? If you look at the volume on a larger scale it actually looks like massive volumes of BTC were purchased on Bitstamp. still theres no telling if its real or fake. If its real then some massive companies are accumulating tens of thousands of coins (the volume on bitstamp would actually be unbelievable in this case and bitfinex would no longer be the largest exchange). If its fake, then who is paying the trading fees and why? or is bitstamp themselves faking the volume like the chinese exchanges always do? Could Bitstamp be arranging bulk trades and running it through the trading engine? A sort of "on the chart" "off the chart" arrangement? Except the price changes, maybe it's a matching service?
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LFC_Bitcoin
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Activity: 3668
Merit: 10261
#1 VIP Crypto Casino
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September 25, 2015, 09:49:56 AM |
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According to ecoin.eu charts at the moment, the price are good and might continue to rise for awhile. Or am I wrong?
The price has risen 6-8 USD in the last day or two but I don't know if we'll continue to see an upwards price movement sorry. I certainly hope so, even breaking 250 would seem good at the moment.
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