byronbb
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Merit: 1000
HODL OR DIE
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October 14, 2013, 09:07:49 PM |
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All very nice, but people can't get fiat out of Gox so... what's the point? This becomes more a myth as time goes on as we have seen $20million in volume last month. So either millionares are just parking USD @ gox for fun or they CAN get money out.
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spooderman
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Activity: 1652
Merit: 1029
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October 14, 2013, 09:16:29 PM |
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All very nice, but people can't get fiat out of Gox so... what's the point? This becomes more a myth as time goes on as we have seen $20million in volume last month. So either millionares are just parking USD @ gox for fun or they CAN get money out. Can someone please settle this? Wasn't there a bounty offered to anyone who could prove that they had managed to get money out of Gox over the last few months? Was this claimed?
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gizmoh
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Activity: 1428
Merit: 1000
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October 14, 2013, 09:17:55 PM |
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All very nice, but people can't get fiat out of Gox so... what's the point? This becomes more a myth as time goes on as we have seen $20million in volume last month. So either millionares are just parking USD @ gox for fun or they CAN get money out. For every buyer of coins,there is a seller. And without withdrawal, it becomes a closed system, whatever money was there before, will remain stuck, just changed hands.
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gmannn
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October 14, 2013, 09:20:44 PM |
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A little more sideways movement and this becomes an mega inverse head and shoulders?
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byronbb
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Activity: 1414
Merit: 1000
HODL OR DIE
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October 14, 2013, 09:31:03 PM |
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A little more sideways movement and this becomes an mega inverse head and shoulders? Inverse H&S means short term down, long term up?? The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
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Sword Smith
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October 14, 2013, 09:34:43 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise.
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derpinheimer
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Activity: 896
Merit: 1000
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October 14, 2013, 09:38:05 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in.
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Sword Smith
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October 14, 2013, 09:40:35 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com
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derpinheimer
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Activity: 896
Merit: 1000
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October 14, 2013, 09:42:34 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC.
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Sword Smith
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October 14, 2013, 09:46:58 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com.
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derpinheimer
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Activity: 896
Merit: 1000
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October 14, 2013, 10:24:03 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low.
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Sword Smith
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October 14, 2013, 10:29:20 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. I found the information I was looking for. The Local Bitcoin weighted average price is not random at all even though it has a large variation. And you cannot buy bitcoins for anything cheaper than 96 euros anywhere in the world and that is only 3 % below the Bitstamp price. If you were correct in that the mtgox and Bitstamp price were unrealistically high, the Local Bitcoin price would be significantly lower: http://bitcoinity.org/markets/localbitcoins/EUR
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markjamrobin
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October 14, 2013, 10:34:07 PM |
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Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low.
Localbitcoins has quite a bit of face-to-face volume, but that isn't escrowed, and is often not reported.
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derpinheimer
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Activity: 896
Merit: 1000
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October 14, 2013, 10:46:21 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. I found the information I was looking for. The Local Bitcoin weighted average price is not random at all even though it has a large variation. And you cannot buy bitcoins for anything cheaper than 96 euros anywhere in the world and that is only 3 % below the Bitstamp price. If you were correct in that the mtgox and Bitstamp price were unrealistically high, the Local Bitcoin price would be significantly lower: http://bitcoinity.org/markets/localbitcoins/EUR7d low: 73 7d hi: 125 USD: 7d low: 88 7d hi: 224 lolk. Why would you expect an OTC site to be anything more than a mirror of the main exchanges? The volume is awful. People dont panic buy or sell there. And if you want to get nitpicky, the prices there have barely increased despite the rally of the past hours.
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Sword Smith
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October 14, 2013, 10:51:10 PM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. I found the information I was looking for. The Local Bitcoin weighted average price is not random at all even though it has a large variation. And you cannot buy bitcoins for anything cheaper than 96 euros anywhere in the world and that is only 3 % below the Bitstamp price. If you were correct in that the mtgox and Bitstamp price were unrealistically high, the Local Bitcoin price would be significantly lower: http://bitcoinity.org/markets/localbitcoins/EUR7d low: 73 7d hi: 125 USD: 7d low: 88 7d hi: 224 lolk. Why would you expect an OTC site to be anything more than a mirror of the main exchanges? The volume is awful. People dont panic buy or sell there. And if you want to get nitpicky, the prices there have barely increased despite the rally of the past hours. Do you understand the concept of variance or averages? In my opinion, the concept of equilibrium and arbitrage disproves your theory about price manipulation. And the volume that it shows is only for euro denominated trades and does not include USD denominated trades etc.
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ChartBuddy
Legendary
Online
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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October 15, 2013, 12:02:18 AM |
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derpinheimer
Legendary
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Activity: 896
Merit: 1000
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October 15, 2013, 12:12:40 AM |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. I found the information I was looking for. The Local Bitcoin weighted average price is not random at all even though it has a large variation. And you cannot buy bitcoins for anything cheaper than 96 euros anywhere in the world and that is only 3 % below the Bitstamp price. If you were correct in that the mtgox and Bitstamp price were unrealistically high, the Local Bitcoin price would be significantly lower: http://bitcoinity.org/markets/localbitcoins/EUR7d low: 73 7d hi: 125 USD: 7d low: 88 7d hi: 224 lolk. Why would you expect an OTC site to be anything more than a mirror of the main exchanges? The volume is awful. People dont panic buy or sell there. And if you want to get nitpicky, the prices there have barely increased despite the rally of the past hours. Do you understand the concept of variance or averages? In my opinion, the concept of equilibrium and arbitrage disproves your theory about price manipulation. And the volume that it shows is only for euro denominated trades and does not include USD denominated trades etc. One of these exchanges is relevant; one is not: One happens to be LBTC, one happens to be MtGox. Take a guess. Not sure where you find the average price there, but still, its volume is awful, It should be expected to have a slight premium over other exchanges.
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hlynur
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October 15, 2013, 12:20:26 AM |
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don't want to interrupt the discussion... but ohlala, btcchina with personal second largest daily volume of all times. this looks promising, chartbuddy could need an asian companion at some point in the future china finally fed up with chewing dollars over and over?
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DougTanner
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October 15, 2013, 12:52:16 AM |
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I go away for the weekend (Canadian Thanksgiving) and this is what happens??
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ChartBuddy
Legendary
Online
Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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October 15, 2013, 01:02:23 AM |
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