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

[Boxman90]

Bitcoinity sometimes has bugs with regard to the market depths of exchanges, so I wouldn't rely on it. If this order book data is consistent with other sources however, it is certainly indicative of made up trades on their part.

Why trust any Chinese exchange, really? OkCoin has been confirmed to fake it, BTCChina's volume dropped like a ROCk once they implemented fees (= HF bots not being able to do their work anymore), and Huobi is offering 0% fees.

Have fun trading at fake prices. I like taking advantage off of this.

[Richy_T]

molecular, before laughing in your hubris, I would dwell on what she really means rather than technically. There's no real need for p2p if there are central companies who will deliver a good/convenient experience at acceptable prices. Think Steam and Netflix. Who's to say banks couldn't get their shit together if they wanted to?

My bank can't even electronically pay bills on the same day. They print out a check and put it in the mail. And let's not forget that US banks are still using the magnetic strip when chip and pin is out there and better (though the banks managed to fuck that up too).

[N12]

You're preaching to the choir. I've always been wary of any Chinese data. To be honest, this should be applied to any Bitcoin exchange. I don't think any of them are audited.

molecular, before laughing in your hubris, I would dwell on what she really means rather than technically. There's no real need for p2p if there are central companies who will deliver a good/convenient experience at acceptable prices. Think Steam and Netflix. Who's to say banks couldn't get their shit together if they wanted to?

My bank can't even electronically pay bills on the same day. They print out a check and put it in the mail. And let's not forget that US banks are still using the magnetic strip when chip and pin is out there and better (though the banks managed to fuck that up too).

You're making my point here. It would be pretty easy for them to step up their game once they get competition. Banks are like record labels in that way.

[Richy_T]

It would be easy for them to step up their game now. By the time they start getting in gear, it will be too late. It's not only their business practices which are entrenched in outmoded ways of thinking, it's their whole zeitgeist. The future of banks is the today for print media.

[wachtwoord]

You're preaching to the choir. I've always been wary of any Chinese data. To be honest, this should be applied to any Bitcoin exchange. I don't think any of them are audited.

molecular, before laughing in your hubris, I would dwell on what she really means rather than technically. There's no real need for p2p if there are central companies who will deliver a good/convenient experience at acceptable prices. Think Steam and Netflix. Who's to say banks couldn't get their shit together if they wanted to?

My bank can't even electronically pay bills on the same day. They print out a check and put it in the mail. And let's not forget that US banks are still using the magnetic strip when chip and pin is out there and better (though the banks managed to fuck that up too).

You're making my point here. It would be pretty easy for them to step up their game once they get competition. Banks are like record labels in that way.

Dinosaurs will die: http://www.youtube.com/watch?v=_Ahc-oEFQ7k

Dinosaurs can't adapt. It's in their faith to die as the world changes around them.

[gandhibt]

Bitcoinity sometimes has bugs with regard to the market depths of exchanges, so I wouldn't rely on it. If this order book data is consistent with other sources however, it is certainly indicative of made up trades on their part.

Why trust any Chinese exchange, really? OkCoin has been confirmed to fake it, BTCChina's volume dropped like a ROCk once they implemented fees (= HF bots not being able to do their work anymore), and Huobi is offering 0% fees.

Have fun trading at fake prices. I like taking advantage off of this.

how are going to take advantage of this? how you know how high this will go? how you know how low it will fall after?

[QuestionAuthority]

Bitcoinity sometimes has bugs with regard to the market depths of exchanges, so I wouldn't rely on it. If this order book data is consistent with other sources however, it is certainly indicative of made up trades on their part.

Why trust any Chinese exchange, really? OkCoin has been confirmed to fake it, BTCChina's volume dropped like a ROCk once they implemented fees (= HF bots not being able to do their work anymore), and Huobi is offering 0% fees.

Have fun trading at fake prices. I like taking advantage off of this.

how are going to take advantage of this? how you know how high this will go? how you know how low it will fall after?

Uh, what?

[N12]

I don't know, guys. Decentralization has its costs, and we don't know for sure yet whether it outweighs the benefit so that it can be scaled out to a really large system. Furthermore, we don't even know the degree of decentralization a "world currency Bitcoin" would have.

Markets always gravitate towards the most efficient, and centralized systems always have reduced costs. Who's to say that a single decentralized system is superior to a plethora of competing centralized systems?

I will always be invested in Bitcoin (and honestly, I've already fulfilled almost all my financial wishes), but I will never succumb to this sort of kool aid and blend out my inner advocatus diaboli. Dogmatic thinking is not only bad for your financial but also for your psychological health.

vvv: Yes, you could say China has simply been thrown back a few months. At least for another month.

[oda.krell]

China is not "out completely". Not as long as their order book still has a life of its own.





Based on its volume, it simply has been downgraded from 'the exchange you must watch' to 'one of 3 exchanges you should keep an eye on'.

[oda.krell]

I don't know, guys. Decentralization has its costs, and we don't know for sure yet whether it outweighs the benefit so that it can be scaled out to a really large system. Furthermore, we don't even know the degree of decentralization a "world currency Bitcoin" would have.

Markets always gravitate towards the most efficient, and centralized systems always have reduced costs. Who's to say that a single decentralized system is superior to a plethora of competing centralized systems?

I will always be invested in Bitcoin (and honestly, I've already fulfilled almost all my financial wishes), but I will never succumb to this sort of kool aid and blend out my inner advocatus diaboli. Dogmatic thinking is not only bad for your financial but also for your psychological health.

Quoted for future reference, when you're putting on your biggest troll hat again.

Wait.

You can just delete my post then.

...

SELL SELL SELL

[nanobrain]

how you know how high this will go? how you know how low it will fall after?

Uh, what?

It's a pretty simple question...short-term high and low.
We're all dying to know your methods...

[adnanabbas]

Do you think its wise to hold off buying right now?

[freethink2013]

Do you think its wise to hold off buying right now?

i think it's cheap but I also think we'll see some panic as china plays out

[QuestionAuthority]

how you know how high this will go? how you know how low it will fall after?

Uh, what?

It's a pretty simple question...short-term high and low.
We're all dying to know your methods...

No one knows, of course.

[oda.krell]

Do you think its wise to hold off buying right now?

Best recommendation right now is placing a limit order at ~100 and another one at ~1500, and waiting for them to be filled. Might take a while, but better to be prepared and spread your bids a bit.

[N12]

Do you think its wise to hold off buying right now?

Best recommendation right now is placing a limit order at ~100 and another one at ~1500, and waiting for them to be filled. Might take a while, but better to be prepared and spread your bids a bit.

Prices in CNY, of course.

[ChartBuddy]

[oda.krell]

Do you think its wise to hold off buying right now?

Best recommendation right now is placing a limit order at ~100 and another one at ~1500, and waiting for them to be filled. Might take a while, but better to be prepared and spread your bids a bit.

Prices in CNY, of course.

No, you don't understand. USD of course, and it has to be limit order (not some fancy stop order), otherwise it doesn't work properly.

[N12]

It was a joke.

Also, if Bitcoin breaks 1242, I don't think selling at 1500 is a good idea.

[adnanabbas]

I have very basic knowledge of trading. what does this chart mean?