ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 29, 2013, 04:02:22 PM |
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samson
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May 29, 2013, 04:05:54 PM |
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Personally I think it's going to go down. Maybe it will go up a bit first, who knows.
A rise in price on very low volume with the occasional 'booster' purchase of 1000 BTC completely out of nowhere certainly doesn't look like a bull market to me.
It looks like someone's trying to maintain the price with the occasional buy.
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Frozenlock
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May 29, 2013, 04:06:53 PM |
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when did i said we were "steamrolling upward"? i'm just saying atm we're going slowly up on low volume.
Oh, I must have misunderstood then... we're on low volume for days now and it didn't push us down at all...
136 to 124 = done by one person wich do not representative at all
I'm saying it is representative that a single individual could do this. |
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IG0BR0KE
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May 29, 2013, 04:12:38 PM |
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when did i said we were "steamrolling upward"? i'm just saying atm we're going slowly up on low volume.
Oh, I must have misunderstood then... we're on low volume for days now and it didn't push us down at all...
136 to 124 = done by one person wich do not representative at all
I'm saying it is representative that a single individual could do this. im agreed if it's done on a regulated stocks but bitcoin is a free market and you can't draw aside "manipulation" or name that like you want. and btw did you saw how this drop have been done? this 7k wasn't looking at all to sell but just pushing the price down. (personal jugement ofc) |
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Miz4r
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May 29, 2013, 04:33:56 PM |
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Well at least we have a more even spread between bulls and bears now. I always feel uncomfortable when everyone here seems to be bullish on the short term, it makes me want to sell my coins.  |
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IG0BR0KE
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May 29, 2013, 04:43:26 PM |
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i'm just trying to understand the thinking process of guys telling me we're going down because a random dude pushed the price down with 7k and have been mysteriously rebuy on 126 in 1 minute. but if you come and tell me there're bad news...ect, then im agree to talk on a possible down. |
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MAbtc
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May 29, 2013, 04:46:31 PM |
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Maybe you have some trouble to grasp the concept of very scarce a non-inflatable currency.
Yeah, and perhaps onecoin truly is the most expensive coin ever.  Scarcity principle doesn't apply without the proper demand. There will be proper demand of Bitcoin regardless of it being legal or illegal in the US, I can guarantee you that. See, this what you continue to repeat (and imply), but you have not proven it at all. "Growth potential" as you called it ≠ the guarantee of massive demand in the future. And the "hard math" based on difficulty -- no possibility that bitcoin simply becomes unprofitable to mine? |
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Frozenlock
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May 29, 2013, 04:55:45 PM |
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Well at least we have a more even spread between bulls and bears now. I always feel uncomfortable when everyone here seems to be bullish on the short term, it makes me want to sell my coins. I see bears! Buy buy buy!  |
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Ultraviolet
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May 29, 2013, 04:58:11 PM |
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The problem is there's not any real bullish momentum in the market. The market moves up when someone with 7 figures decides to push it up. It's not moving up as a real result of supply < demand. If you watch the order book for 10 minutes you'll see how much of the already stagnant volume is only coming from market maker bots. The price wouldn't even be above 120 right now if it weren't for the aforementioned phenomena.
However, the price isn't going to go down until the same small pool of players with deep pockets decide to dump.
But it's been this way almost all month, so what can you do.
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Quantum_Negatum
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May 29, 2013, 04:59:43 PM |
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There is no reason for the sudden and dramatic rise in volume. Insider trading? My bet is that some traders have become aware of impending negative news regarding gox and want coins off the exchange. We've been on the edge since the Dwolla incident.
Or, insiders getting their money out of liberty reserve and converting into Bitcoin just in time. |
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Quantum_Negatum
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May 29, 2013, 05:01:08 PM |
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There is no reason for the sudden and dramatic rise in volume. Insider trading? My bet is that some traders have become aware of impending negative news regarding gox and want coins off the exchange. We've been on the edge since the Dwolla incident.
Is this some kind of advanced reverse psychology that you are speaking? There was just a conference with lots of VC's there. So, some traders know of impending negative news and so are somehow driving the price up and risking lots of $$$ in the meantime? You should write children's stories... Come on, you can come up with something more factual that that. How about the Japanese stock market COLLAPSED by 12% yesterday and that is a sign that Quantitative Easing (aka planned hyperinflation) doesn't work. Looks like I may have been right though... |
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ChartBuddy
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Activity: 2226
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 29, 2013, 05:02:22 PM |
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molecular
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Activity: 2772
Merit: 1019
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May 29, 2013, 05:22:02 PM |
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The only people that need to transmit money anonymously, are criminals and tax evaders.
No. Everybody should be able to do that just as everybody should to be able to communicate with others in privacy. |
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molecular
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May 29, 2013, 05:24:12 PM |
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What I know is the US dollar is by far the most popular black market currency. Again, maybe in bizzaro world, it's bitcoin but here on Earth, the US dollar is king. Bitcoin...ummm....what's a Bitcoin? The present will be the past in the future. Get used to it. |
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Its About Sharing
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Activity: 1442
Merit: 1000
Antifragile
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May 29, 2013, 05:32:25 PM |
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Maybe you have some trouble to grasp the concept of very scarce a non-inflatable currency.
Yeah, and perhaps onecoin truly is the most expensive coin ever. Scarcity principle doesn't apply without the proper demand. There will be proper demand of Bitcoin regardless of it being legal or illegal in the US, I can guarantee you that. See, this what you continue to repeat (and imply), but you have not proven it at all. "Growth potential" as you called it ≠ the guarantee of massive demand in the future. And the "hard math" based on difficulty -- no possibility that bitcoin simply becomes unprofitable to mine? But if you argue adoption you are essentially arguing that companies of all sizes, as well as people, don't want to save lots of money. I just don't see that being a possibility here. BTC can and will save lots of money to everyone involved. That is why it will succeed. I wouldn't worry to much about thinking "Will people use it?". They will be enticed to use it in a variety of ways. Look at the Bitcoin store that offers electronics at prices lower than Amazon. What does that make Amazon think? Other retailers? Our worry is governments/banks pretending to be regulators. That is why we must play our hand right and not blindly say "yes" to anything that gives us acceptance. We are in a position of power as the current system looks like it might be failing... |
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Its About Sharing
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Activity: 1442
Merit: 1000
Antifragile
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May 29, 2013, 05:35:20 PM |
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There is no reason for the sudden and dramatic rise in volume. Insider trading? My bet is that some traders have become aware of impending negative news regarding gox and want coins off the exchange. We've been on the edge since the Dwolla incident.
Is this some kind of advanced reverse psychology that you are speaking? There was just a conference with lots of VC's there. So, some traders know of impending negative news and so are somehow driving the price up and risking lots of $$$ in the meantime? You should write children's stories... Come on, you can come up with something more factual that that. How about the Japanese stock market COLLAPSED by 12% yesterday and that is a sign that Quantitative Easing (aka planned hyperinflation) doesn't work. Looks like I may have been right though... Don't confuse being right via guessing, with being right for the correct reasons. eheheh I think things are a bit more complicated than any of us can understand to be honest. Sit back and enjoy the ride, however slow or volatile it may be... |
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Frozenlock
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May 29, 2013, 05:37:04 PM |
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Is there a way to see how many BTCs are short or long on bitfinex?
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Ultraviolet
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May 29, 2013, 05:47:31 PM |
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Is there a way to see how many BTCs are short or long on bitfinex?
No, but you can discern a bit from the interest rates and sum available for loan. During the 110-115 stagnation there were tens of thousands of dollars in fiat sub 40%. Before Monday's dump the only decent interest rate was the variable interest rate (69%). You can also tell from how many people are trying to set limit orders for borrows. Borrowing BTC to short has been really cheap in the last 3 weeks. At one point you could borrow like 400B for 2%. |
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Frozenlock
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May 29, 2013, 05:47:53 PM |
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1337 BTC buy order @ $128. Funny guy is funny |
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Its About Sharing
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Activity: 1442
Merit: 1000
Antifragile
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May 29, 2013, 05:52:50 PM |
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Is there a way to see how many BTCs are short or long on bitfinex?
No, but you can discern a bit from the interest rates and sum available for loan. During the 110-115 stagnation there were tens of thousands of dollars in fiat sub 40%. Before Monday's dump the only decent interest rate was the variable interest rate (69%). You can also tell from how many people are trying to set limit orders for borrows. Borrowing BTC to short has been really cheap in the last 3 weeks. At one point you could borrow like 400B for 2%. How much of an effect can shorting coins on bitfinex have to the price on Gox though? I would say none. (Unless the coins are "physically" borrowed and then sold on Gox.) If you want to drop the price of BTC's on the Net, you better try to do so on the biggest exchange... IAS |
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