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AmazonStuff
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June 27, 2016, 11:51:05 AM |
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Look up how Banks stocks are falling - next bailouts coming in soon... There will be no more bailouts, the next round is bail-ins ... the trap has been sprung. You're right, this is the end of civilization as we know it. Brexit, Brits basically an heroed, GBP in the dumpster, and yet ...BTC another 2% down  BUY, you FOOLS! You forgot to say that CNY and EUR are also sliding down  |
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AmazonStuff
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June 27, 2016, 12:02:14 PM |
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We will need this gif today, feel free to quote me later!  |
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InternationalBankAlliance
Newbie
 Offline
Activity: 46
Merit: 0
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June 27, 2016, 12:08:19 PM |
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I corrected this user: Bitcoin is the best performing currency this year. I think that's why people are choosing it.
My post got deleted. A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator.
Incorrect. The Coin Which Shall Not Be Named is the best preforming currency this year.
By far.
Doesn't even compare. Which, BTW, is an equally meaningless metric. Because Scratch tickets bought at Abdul's Bodega may be an even better currency this year, because he sold a million-dollar winner. Please don't think that buying scratch tickets from Abdul is a sound financial strategy -- it ain't. If not obvious, this is what leads to trolling: Red team posts a whopper, gets soundly rebuffed by Blue, and, instead of accepting defeat gracefully, Red deletes the 100% factually accurate retort. Blue team feels slighted, and resorts to equally underhanded measures "And so begins the twelfth year of my idiotic war. The pain of it! The stupidity!"--Grendel |
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hv_
Legendary
Offline
Activity: 2590
Merit: 1055
Clean Code and Scale
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June 27, 2016, 12:21:46 PM |
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TReano
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June 27, 2016, 01:06:38 PM |
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there was almost no reaction to the Brexit vote. All the disaster, crises hedge is just hope. Even thought the Market reacted dramatic to the Brexit vote, especially the Forex market had remarkable moves. But Bitcoin didn't really react to this major riskaversion move... I kinda feel disappointed in the end. The Trading Volume on loca bitcoins didn't even show any significant. https://bitcoincharts.com/markets/localbtcGBP.htmlThe Volume even decreased before/after the vote... This crash really looks like 2008 all over again. But it's just the beginning there is much more to come. |
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aztecminer
Legendary
Offline
Activity: 1092
Merit: 1000
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June 27, 2016, 01:07:20 PM |
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nah.. that was all orchestrated by one guy on okcoin . |
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hv_
Legendary
Offline
Activity: 2590
Merit: 1055
Clean Code and Scale
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June 27, 2016, 02:08:17 PM |
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German 2nd biggest bank Commerzbank AG Market Cap dropped below BTC ....
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toknormal
Legendary
Offline
Activity: 3066
Merit: 1188
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June 27, 2016, 02:27:32 PM |
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Wow. Those Italian bank stocks - in need of some massive injection of ECB viagra right now.
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InternationalBankAlliance
Newbie
Offline
Activity: 46
Merit: 0
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June 27, 2016, 02:29:40 PM |
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As usual: panic? Gold up, bitcoin user unaffected  *actually BTC is down, but I won't rub it in, because that would be mean. |
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BlindMayorBitcorn
Legendary
Offline
Activity: 1260
Merit: 1116
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June 27, 2016, 02:45:44 PM |
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Someone at that network is bagholding. |
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toknormal
Legendary
Offline
Activity: 3066
Merit: 1188
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June 27, 2016, 03:02:20 PM |
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European Central Bank
Legendary
Offline
Activity: 1288
Merit: 1087
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June 27, 2016, 03:12:09 PM |
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This market hedge stuff is pure bullshit and you'd have to be a moron to believe it.
It does however plant a seed for the future in a few minds.
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julian071
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June 27, 2016, 03:13:33 PM |
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This market hedge stuff is pure bullshit and you'd have to be a moron to believe it.
It does however plant a seed for the future in a few minds.
ECB you have two years to change your avatar. I demand you start the negotiations about that asap. |
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spooderman
Legendary
Offline
Activity: 1708
Merit: 1047
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June 27, 2016, 03:46:51 PM |
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pound will always be ok, it's not gonna drop more than 30% which is the most pessimistic i can be. bitcoin however could easily. i agree. the hedge shit is pure fantasy.
"hey i'm an average dude with a family that i'm responsible for in a crumbling economy, i think i'll dump all my money in bitcoin" - no one ever.
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HyphyBTC
Newbie
Offline
Activity: 45
Merit: 0
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June 27, 2016, 04:15:41 PM |
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A few thing people here don't seem to understand:
Most buying is done off exchanges and OTC. By a wide margin too.
China is not leading this market.
No fee Chinese exchanges are being used to "control" the market, because bots are linked and people think China is leading the market.
Bitfinex is linked to Chinese exchanges to provide liquidity. Just like when BFX was linked to Stamp. That is why some full orderbooks are not shown. When a large drop occurs on Chinese exchanges the volume stays within the range, while Bitfinex drops with larger volume than normal. This is a combination of bot manipulation and Bitfinex offering liquidity.
The rise to nearly 800 was one entity, the OTC sellers and buyers waited until this entity was done and then plopped up over 25K BTC in ask walls, now it's up to 35K. The 35K BTC is a mix of real coins and borrowed coins for sale. You can see this by looking at the full order book, you notice the amounts for sale at XXX.37 repeatedly at every dollar interval? There are other patterns you will see as well.
The OTC buyers put sell pressure on BFX to keep the price down, so their OTC purchase will save them millions, by only making people who look at exchanges think we aren't mooning yet. Without their "fake" sell pressure we would be at ATH.
OTC firms do not care about this "manipulation" because they get a percentage in BTC and know that they will sell much more BTC OTC when the price is reasonable and not mooning. OTC firms might also be in on the fake sell pressure.
My guess is currently someone wants to buy OTC in the $650 range, or an OTC firm is seeing an influx of customers and is easier to just have stable prices for everyone Brexiting or running from their fiat market.
The Bitfinex "malfunction" was deliberate. Using statements from above you can see that dropping the Chinese exchanges prices are easy, causing all the longs on BFX to be force liquidated. Well guess who bought up all those coins that were liquidated while also putting the price back in their range? BFX has a ton of fees in BTC to sell, and guess how they do it? That's right, mostly OTC. And if a buyer says "no way I'm paying $700+ for those coins when the price has only been at this level for a week", then BFX has only one thing to do, bring the price back down in the OTC range.
Long term holders like myself, 4+ years, know this is going on and don't really care about exchange rates YET, because one day millions of small buyers who will only use exchanges will overpower any manipulation put forth by OTC markets and online exchanges.
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Dotto
Legendary
Offline
Activity: 981
Merit: 1005
No maps for these territories
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June 27, 2016, 04:29:21 PM |
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This price is so depressing that is actually bullish. Accumulating
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Paashaas
Legendary
Offline
Activity: 3814
Merit: 5438
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June 27, 2016, 04:46:58 PM |
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This market hedge stuff is pure bullshit and you'd have to be a moron to believe it.
It does however plant a seed for the future in a few minds.
I wanna know what youre ECB overlords will do with 444b Euro's (created out of thin air) during this ''Brexit event''  http://www.ecb.europa.eu/mopo/implement/omo/html/20160065.en.html |
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European Central Bank
Legendary
Offline
Activity: 1288
Merit: 1087
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June 27, 2016, 04:49:26 PM
Last edit: June 27, 2016, 05:10:15 PM by European Central Bank |
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ECB you have two years to change your avatar. I demand you start the negotiations about that asap.
Addressed. we are committed to being more agile and responsive in this new dawn/shitshow.
I wanna know what youre ECB overlords will do with 444b Euro's (created out of thin air) during this ''Brexit event''
I dunno. i only got the job posting here because i'm the only one who knows how to use a computer. i'll have to wait for the big dogs to give me an update down those sucky tubes that spit messages on pieces of paper out. |
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