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Frozenlock
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May 25, 2013, 12:22:23 AM |
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This rally is just a taste of next week's action IMO.
Inb4 flatline week.  |
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Frozenlock
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May 25, 2013, 12:22:55 AM |
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PS: if you're a bear now would be a good time to sell.
Double top? Or rather: on what do you base this? |
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ChartBuddy
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May 25, 2013, 01:01:35 AM |
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adamstgBit
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Trusted Bitcoiner
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May 25, 2013, 01:03:16 AM |
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PS: if you're a bear now would be a good time to sell.
Double top? Or rather: on what do you base this? I base my analyst purely on intuition and emotion  I feel its make or break time in bitcoin speculation world. next week will be a big deal no matter what happens. there will be no stability, thats for sure. bears have a distinct advantage as no one has a clue what resistance will be like at and above 150 I think resistance will be minimal and we will cost up and over 200 with ease, but breaking the resistance at 130 140 is key to victory! bears either show their teeth here and now or the bear pack will spread out and head for the hills, making them an as benign as a 500 btc wall 5$ over spot. |
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Miz4r
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May 25, 2013, 01:18:20 AM |
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Although I'm a huge bull and all in, I don't think the value of bitcoin should be rising that fast. The infrastructure just isn't ready for it and new hyperbolic growth will only attract the wrong crowd of people who think they can get rich fast and don't really care about bitcoin itself. Slow and steady growth would be best for long term holders and for bitcoin.  |
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Frozenlock
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May 25, 2013, 01:19:51 AM |
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Although I'm a huge bull and all in, I don't think the value of bitcoin should be rising that fast. The infrastructure just isn't ready for it and new hyperbolic growth will only attract the wrong crowd of people who think they can get rich fast and don't really care about bitcoin itself. Slow and steady growth would be best for long term holders and for bitcoin. I agree. We should go back to $20 then.  |
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Miz4r
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May 25, 2013, 01:25:05 AM |
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Although I'm a huge bull and all in, I don't think the value of bitcoin should be rising that fast. The infrastructure just isn't ready for it and new hyperbolic growth will only attract the wrong crowd of people who think they can get rich fast and don't really care about bitcoin itself. Slow and steady growth would be best for long term holders and for bitcoin. I agree. We should go back to $20 then. No I'd rather not see trolls like Jaroslaw get their filthy hands on cheap coins. |
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ChartBuddy
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May 25, 2013, 02:01:40 AM |
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ChartBuddy
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May 25, 2013, 03:01:46 AM |
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bito
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May 25, 2013, 03:48:45 AM |
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Agreed, moonshot bids for $20 coins don't really count. I keep meaning to create an index that divides each bid/ask by the % distance from the current MMR. I think it would be much more insightful. I just can't square the maths to adjust for the fact that bids only differ by 100% but asks can be many 1000% higher. Anyone know how to properly adjust for that?
Simple, just base it on the logarithm of the price. Thanks, but I think I've got it now. It's simpler than that. One re-bases the order book so MMR is 1. lets call it $125. A $100 dollar bid at $10 dollars gets weighted by 0.08. An equally weighted ask of $100 would be priced at $1562 (the price at which current MMR represents only 8%.) So who do I need to beg for historical daily snapshots of the full depth API? I'll pitch in half the 200btm if you share it with me. Bingo. Thanks. I almost missed that reply. I'll get in touch with the dude after some tests on the old data. As an aside; I can't help but feel I'm re-inventing the wheel here though. Brokers have had Level 2 data for years, why don't we have common TA indicators for depth like we do for Volume and Price. Am I missing something? Is this kind of thing common in CFA textbooks? I suspect that brokers have exclusive access to certain information(s) in traditional markets, such as live changes to the order book. So my guess is that there is quite a lot of reinventing of the wheel by competing brokers, because this elitist group are all in competition with each other and there's no incentive to share. NIKKEI wall observer thread edit: I agree with Miz4r. NIKKEI 225 is not bitcoin, niothor. 7% swings are not routine; in fact, they are quite alarming in the current market environment. Bitcoin behaves like a penny stock so it's OK to pass off huge swings by saying "Oh it's still higher than it was a month ago." The NIKKEI is what we call a "real world market" with "big boys" and "real companies" and "real exchanges that don't suck"  Not as simple as just ignoring a 7% dump like we can do with bitcoin. I've often thought about how much brokers in traditional markets are applying their TA to BTC. Probably not too much ATM. I can't say I dislike BitcoinAshley's description of BTC as a penny stock! We're very much in the infancy of BTC. |
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ChartBuddy
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May 25, 2013, 04:01:37 AM |
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ChartBuddy
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May 25, 2013, 05:01:45 AM |
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solex
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100 satoshis -> ISO code
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May 25, 2013, 05:15:01 AM |
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The obvious question now: what are LR users going to transact with instead? |
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420
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May 25, 2013, 05:16:17 AM |
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As soon as there's a slight drop on Gox, Bitstamp absolutely shits itself. But when there's a big rise then Bitstamp just doesnt care.  always easier to get bitcoin on there than fiat |
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fitty
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May 25, 2013, 05:17:31 AM |
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The obvious question now: what are LR users going to transact with instead? And how many people had money sitting on LR. Seems like a fairly big deal. Without Dwolla, I'd imagine LR was a fairly big chunk of Gox deposits. Surprised no one is talking about this, they were down all day Friday. Maybe not that many people used LR. |
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01BTC10
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May 25, 2013, 05:25:01 AM |
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keewee
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May 25, 2013, 05:38:33 AM |
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So much for "liberty"  |
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420
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May 25, 2013, 05:42:15 AM |
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som bitch..........
I hope local bitcoins nodes are building up; this seems to be more the way bitcoins will be traded...
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ChartBuddy
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May 25, 2013, 06:01:38 AM |
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