Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[QuestionAuthority]

seem to recall, several years ago, an announcement by some exchange that they were implementing "shadow" book orders, that are invisible to most ordinary clients.  Perhaps they just started showing shadow-book trades on the ordinary ticker, to boost their public volume numbers...

That seems to be what's happening. But why would they want a lot of off book transactions? Don't they make money based on a percentage of the order cost? Why would they not want the price to rise as much as possible?

OKCoin and Huobi do not charge fees for trading, only for deposit and/or withdrawal, and interest on leveraged trading. As I recall, the shadow book was meant to cater for clients who wanted to trade on the exchange, but did not want their large orders to affect the price against them. (I may have misunderstood, and I don't know whether that makes sense.)

It's hard to see responses between all these ChartBuddys.

Thanks, I think they would be better for all if we could actually see the effects of the trades that are happening.

[coinpr0n]

Maybe I'm being naive, but huge volumes wouldn't surprise me if there are no trading fees - trading back and forth becomes worthwhile. The large hidden orders is another subject, but exchanges are known for offering this service.

[ChartBuddy]

Coin
Explanation

[phoenix1]

seem to recall, several years ago, an announcement by some exchange that they were implementing "shadow" book orders, that are invisible to most ordinary clients.  Perhaps they just started showing shadow-book trades on the ordinary ticker, to boost their public volume numbers...

That seems to be what's happening. But why would they want a lot of off book transactions? Don't they make money based on a percentage of the order cost? Why would they not want the price to rise as much as possible?

OKCoin and Huobi do not charge fees for trading, only for deposit and/or withdrawal, and interest on leveraged trading. As I recall, the shadow book was meant to cater for clients who wanted to trade on the exchange, but did not want their large orders to affect the price against them. (I may have misunderstood, and I don't know whether that makes sense.)

It's hard to see responses between all these ChartBuddys.

Thanks, I think they would be better for all if we could actually see the effects of the trades that are happening.

Right, so we are supposed to belive that while BFX volume has continued at an a consistent mostly anaemic pace for the last 2 months, OKC and Huobi have a bunch of 50k BTC orders that they suddenly decided to announce in their volume figures ...OK .... <sips Kool Aid> .... perfectly reasonable explanation.
Oh wait ...no announcement from an exchange that is being accused of faking numbers that they have a valid reason for suddenly higher numbers. OK ... <sips more> that makes perfect sense

 

If it walks like a duck and quacks like a duck ... most likely explanation is 'it's definitely not a duck'  

Exchange volume is anaemic (excluding these wash trades) ... has been for months, and continues to be ...
Masterluc's 'Silent Phase' ...
Unfortunately this does not attract  more 'hot' money, so numbers are being fudged ... Occam's Razor

[brg444]

seem to recall, several years ago, an announcement by some exchange that they were implementing "shadow" book orders, that are invisible to most ordinary clients.  Perhaps they just started showing shadow-book trades on the ordinary ticker, to boost their public volume numbers...

That seems to be what's happening. But why would they want a lot of off book transactions? Don't they make money based on a percentage of the order cost? Why would they not want the price to rise as much as possible?

OKCoin and Huobi do not charge fees for trading, only for deposit and/or withdrawal, and interest on leveraged trading. As I recall, the shadow book was meant to cater for clients who wanted to trade on the exchange, but did not want their large orders to affect the price against them. (I may have misunderstood, and I don't know whether that makes sense.)

It's hard to see responses between all these ChartBuddys.

Thanks, I think they would be better for all if we could actually see the effects of the trades that are happening.

Right, so we are supposed to belive that while BFX volume has continued at an a consistent mostly anaemic pace for the last 2 months, OKC and Huobi have a bunch of 50k BTC orders that they suddenly decided to announce in their volume figures ...OK .... <sips Kool Aid> .... perfectly reasonable explanation.
Oh wait ...no announcement from an exchange that is being accused of faking numbers that they have a valid reason for suddenly higher numbers. OK ... <sips more> that makes perfect sense

 

If it walks like a duck and quacks like a duck ... most likely explanation is 'it's definitely not a duck'   

it's clear enough by now that these exchanges are bucket shop status, especially BitFinex

[phoenix1]

seem to recall, several years ago, an announcement by some exchange that they were implementing "shadow" book orders, that are invisible to most ordinary clients.  Perhaps they just started showing shadow-book trades on the ordinary ticker, to boost their public volume numbers...

That seems to be what's happening. But why would they want a lot of off book transactions? Don't they make money based on a percentage of the order cost? Why would they not want the price to rise as much as possible?

OKCoin and Huobi do not charge fees for trading, only for deposit and/or withdrawal, and interest on leveraged trading. As I recall, the shadow book was meant to cater for clients who wanted to trade on the exchange, but did not want their large orders to affect the price against them. (I may have misunderstood, and I don't know whether that makes sense.)

It's hard to see responses between all these ChartBuddys.

Thanks, I think they would be better for all if we could actually see the effects of the trades that are happening.

Right, so we are supposed to belive that while BFX volume has continued at an a consistent mostly anaemic pace for the last 2 months, OKC and Huobi have a bunch of 50k BTC orders that they suddenly decided to announce in their volume figures ...OK .... <sips Kool Aid> .... perfectly reasonable explanation.
Oh wait ...no announcement from an exchange that is being accused of faking numbers that they have a valid reason for suddenly higher numbers. OK ... <sips more> that makes perfect sense

 

If it walks like a duck and quacks like a duck ... most likely explanation is 'it's definitely not a duck'  

it's clear enough by now that these exchanges are bucket shop status, especially BitFinex

I agree (Huobi, OKC, Stamp and BFX)
The irony is that BFX appears to be the only one publishing realistic, unfudged-looking, volume numbers now! Though who controls the bid walls there and if they are just to 'protect' solvency are another question ...

<dons conspiracy hat> Perhaps new, regulated US exchanges, with low volumes due to excessive KYC, are working to discredit other exchanges by abusing their zero-fee policies and making thier volumes look obviously ridiculous ...
A good-ol US-of-its-All-ours attempted land grab ...

<other conspircay hat> Someone is working very hard to make it look like there is real volume behind this mini rally to fool newbs, and paint the tape for historic purposes. This is the volume that will show on the charts for years to come ...

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[QuestionAuthority]

A few years ago there was a bunch of people bitching about stability. "If we only had price stability the world would be a wonderful place because everyone would adopt Bitcoin and we'll all be rich!"

Well, how's that stability working out for you?

[ChartBuddy]

Coin
Explanation

[Proxiebuier]

A few years ago there was a bunch of people bitching about stability. "If we only had price stability the world would be a wonderful place because everyone would adopt Bitcoin and we'll all be rich!"

Well, how's that stability working out for you?

stability is very important for merchand adoption
but for me I prefer the price tends to go up and down because Im trader

[MNDan]

A few years ago there was a bunch of people bitching about stability. "If we only had price stability the world would be a wonderful place because everyone would adopt Bitcoin and we'll all be rich!"

Well, how's that stability working out for you?

Stability at $2000 is what they meant...

[Fiat_Hodler]

seem to recall, several years ago, an announcement by some exchange that they were implementing "shadow" book orders, that are invisible to most ordinary clients.  Perhaps they just started showing shadow-book trades on the ordinary ticker, to boost their public volume numbers...

That seems to be what's happening. But why would they want a lot of off book transactions? Don't they make money based on a percentage of the order cost? Why would they not want the price to rise as much as possible?

OKCoin and Huobi do not charge fees for trading, only for deposit and/or withdrawal, and interest on leveraged trading. As I recall, the shadow book was meant to cater for clients who wanted to trade on the exchange, but did not want their large orders to affect the price against them. (I may have misunderstood, and I don't know whether that makes sense.)

It's hard to see responses between all these ChartBuddys.

Thanks, I think they would be better for all if we could actually see the effects of the trades that are happening.

Right, so we are supposed to belive that while BFX volume has continued at an a consistent mostly anaemic pace for the last 2 months, OKC and Huobi have a bunch of 50k BTC orders that they suddenly decided to announce in their volume figures ...OK .... <sips Kool Aid> .... perfectly reasonable explanation.
Oh wait ...no announcement from an exchange that is being accused of faking numbers that they have a valid reason for suddenly higher numbers. OK ... <sips more> that makes perfect sense

 

If it walks like a duck and quacks like a duck ... most likely explanation is 'it's definitely not a duck'   

it's clear enough by now that these exchanges are bucket shop status, especially BitFinex

I dont know about the bidwalls on bitfinex (especially since people can use 3x leverage to create fake falls if they desire),
However after much observation I dont think bitfinex is faking their trade volume. They actually seems legit and the order book actually matches the orders that occur.

[mymenace]

seem to recall, several years ago, an announcement by some exchange that they were implementing "shadow" book orders, that are invisible to most ordinary clients.  Perhaps they just started showing shadow-book trades on the ordinary ticker, to boost their public volume numbers...

That seems to be what's happening. But why would they want a lot of off book transactions? Don't they make money based on a percentage of the order cost? Why would they not want the price to rise as much as possible?

OKCoin and Huobi do not charge fees for trading, only for deposit and/or withdrawal, and interest on leveraged trading. As I recall, the shadow book was meant to cater for clients who wanted to trade on the exchange, but did not want their large orders to affect the price against them. (I may have misunderstood, and I don't know whether that makes sense.)

It's hard to see responses between all these ChartBuddys.

Thanks, I think they would be better for all if we could actually see the effects of the trades that are happening.

Right, so we are supposed to belive that while BFX volume has continued at an a consistent mostly anaemic pace for the last 2 months, OKC and Huobi have a bunch of 50k BTC orders that they suddenly decided to announce in their volume figures ...OK .... <sips Kool Aid> .... perfectly reasonable explanation.
Oh wait ...no announcement from an exchange that is being accused of faking numbers that they have a valid reason for suddenly higher numbers. OK ... <sips more> that makes perfect sense

 

If it walks like a duck and quacks like a duck ... most likely explanation is 'it's definitely not a duck'  

it's clear enough by now that these exchanges are bucket shop status, especially BitFinex

I dont know about the bidwalls on bitfinex (especially since people can use 3x leverage to create fake falls if they desire),
However after much observation I dont think bitfinex is faking their trade volume. They actually seems legit and the order book actually matches the orders that occur.

why would this be any different to mainstream exchanges, stocks, shares, tenders, contracts - it is inherently human for someone in a position of power to take advantage of any situation any way they can

[ChartBuddy]

Coin
Explanation