Davyd05
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January 12, 2014, 02:30:22 AM |
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uhh.. hmm let me just buy 918,000 or so worth of btc on a Saturday morning.. if I live east coast lol
Yeah, goes well with the morning coffee no lie, then I fell asleep. This push kept me up longer than expected as I had just finished fixing a friends computer then joked we were likely to see 1000 before he left.. and four - five minutes later some one nearly drops 1million into btc. What a glorious weekend yet again. edit : at 980 on gox is probably where we see some1 try and hammer us back in to the lower re tracement areas. Mind you bear-whale vs bull-whale is always an interesting predicament
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dgarcia
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January 12, 2014, 02:40:58 AM |
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uhh.. hmm let me just buy 918,000 or so worth of btc on a Saturday morning.. if I live east coast lol
Yeah, goes well with the morning coffee no lie, then I fell asleep. This push kept me up longer than expected as I had just finished fixing a friends computer then joked we were likely to see 1000 before he left.. and four - five minutes later some one nearly drops 1million into btc. What a glorious weekend yet again. edit : at 980 on gox is probably where we see some1 try and hammer us back in to the lower re tracement areas. Mind you bear-whale vs bull-whale is always an interesting predicament That could be a real problem if it is so easy to manipulate the BTC price. You take BTC-E as hostage by putting a wall, they run away and other exchanges will follow?
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Davyd05
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January 12, 2014, 02:45:56 AM |
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uhh.. hmm let me just buy 918,000 or so worth of btc on a Saturday morning.. if I live east coast lol
Yeah, goes well with the morning coffee no lie, then I fell asleep. This push kept me up longer than expected as I had just finished fixing a friends computer then joked we were likely to see 1000 before he left.. and four - five minutes later some one nearly drops 1million into btc. What a glorious weekend yet again. edit : at 980 on gox is probably where we see some1 try and hammer us back in to the lower re tracement areas. Mind you bear-whale vs bull-whale is always an interesting predicament That could be a real problem if it is so easy to manipulate the BTC price. You take BTC-E as hostage by putting a wall, they run away and other exchanges will follow? Cause its easy to drop 900k, and repeat all things are manipulated...why wouldn't btc be. I think all in all as it develops and adoptions grows it gets harder to manipulate.
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RandyMagnum
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January 12, 2014, 02:58:54 AM |
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The BTC DJ is playing this record on heavy rotation. The tune for the weekend is slap-you-in-the-face obvious at this point.
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Cablez
Legendary
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Activity: 1400
Merit: 1000
I owe my soul to the Bitcoin code...
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January 12, 2014, 03:03:00 AM |
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Choo err, choo Wow, I haven't seen that one since I was a kid. I didn't realize it was still playing.
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ElectricMucus
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Merit: 1057
Marketing manager - GO MP
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January 12, 2014, 03:17:43 AM |
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I'll just add that that article is a large part of why I jumped on Bitcoin as soon as I found out about it and understood its fundamentals. Curious, what does the article say why this is bad? I can't make out any argument, just a prolonged statement that it is. Oh and the analogies suck. (The fear mongering too)
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JorgeStolfi
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January 12, 2014, 03:26:10 AM |
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It seems very hard for the price to stay above 1000.
It seems that tens of thousands of coins were bought by speculators at 1000 USD or more, just before the all-time high, on the assumption that the price would keep rising. Some of those speculators must have grown disenchanted and will dump those coins as soon as the price returns to that level.
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BitcoinAshley
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January 12, 2014, 03:35:08 AM |
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It seems very hard for the price to stay above 1000.
It seems that tens of thousands of coins were bought by speculators at 1000 USD or more, just before the all-time high, on the assumption that the price would keep rising. Some of those speculators must have grown disenchanted and will dump those coins as soon as the price returns to that level. Too bad that's what everyone said as we were approaching $200 for the second time ;-)
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ShroomsKit
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January 12, 2014, 03:42:34 AM |
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It seems very hard for the price to stay above 1000.
It seems that tens of thousands of coins were bought by speculators at 1000 USD or more, just before the all-time high, on the assumption that the price would keep rising. Some of those speculators must have grown disenchanted and will dump those coins as soon as the price returns to that level. Possibly. I also have the feeling some people don't want the price to stay above 1000 for some idd reason and keep dumping to prevent it.
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Davyd05
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January 12, 2014, 03:47:54 AM |
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changing of the guard lol
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JorgeStolfi
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January 12, 2014, 03:47:56 AM |
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Too bad that's what everyone said as we were approaching $200 for the second time ;-)
On that occasion the volume at the Chinese exchanges increased and easily ate up that barrier. Before that, the price stagnated for 10-12 days just below 200 USD. Would it have broken that barrier without the Chinese? Who knows...
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windjc
Legendary
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Activity: 2156
Merit: 1070
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January 12, 2014, 04:15:34 AM |
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Too bad that's what everyone said as we were approaching $200 for the second time ;-)
On that occasion the volume at the Chinese exchanges increased and easily ate up that barrier. Before that, the price stagnated for 10-12 days just below 200 USD. Would it have broken that barrier without the Chinese? Who knows... Dude, its like someone took all the cliche concerns about bitcoin for the last 5 years rolled them up into one ball and fed it to you and now you are just regurgitating them 1 by 1. Have a little respect for the rest of us, that we have A LOT more experience with bitcoin than you do, and you probably aren't going to come up with a concern that hasn't been addressed 10 times before. You statement about $200 is ridiculous. Go check the charts. Bitstamp led the rally from $200. SMH.
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JorgeStolfi
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January 12, 2014, 04:28:55 AM |
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Volume at the main exchanges on the three days up to the all-time high, namely 27, 28 and 29/nov, when the price was between 950 and 1130 (on Bitstamp; 10% more on MtGox), in kBTC:
BTC-China 80+80+50 = 210 OKCoin 62+55+30 = 147 Huobi 45+37+20 = 102 MtGox 38+37+15 = 90 BTC-e 39+27+13 = 79 Bitstamp 37+22+13 = 72 BitFinEx 9 + 9+ 5 = 23
Other exchanges had smaller amounts. In total, about 750,000 bitcoins were traded on those exchanges in those three days, when the price was at or above 960 USD and it seemed that it would keep increasing well beyond 1200 USD.
Presumably some of those coins were traded multiple times in that period, but it seems safe to assume that there must be a few hundred thousand bitcoins out there which were bought at those prices by their current owners.
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hyphymikey
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January 12, 2014, 04:46:18 AM |
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Instead of boobs for beads for Mardi Gras this year in New Orleans, I'm gonna try btc for boobs.
(drunk)
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TERA
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January 12, 2014, 04:51:32 AM |
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Volume at the main exchanges on the three days up to the all-time high, namely 27, 28 and 29/nov, when the price was between 950 and 1130 (on Bitstamp; 10% more on MtGox), in kBTC:
BTC-China 80+80+50 = 210 OKCoin 62+55+30 = 147 Huobi 45+37+20 = 102 MtGox 38+37+15 = 90 BTC-e 39+27+13 = 79 Bitstamp 37+22+13 = 72 BitFinEx 9 + 9+ 5 = 23
Other exchanges had smaller amounts. In total, about 750,000 bitcoins were traded on those exchanges in those three days, when the price was at or above 960 USD and it seemed that it would keep increasing well beyond 1200 USD.
Presumably some of those coins were traded multiple times in that period, but it seems safe to assume that there must be a few hundred thousand bitcoins out there which were bought at those prices by their current owners.
OR... Only about 5%-10% of those numbers represents actual disinct bitcoins newly purchased, and the other 90%-95% represents traders and bots trading the same coins back and forth, especially on chinese exchanges with 0% fees.
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billyjoeallen
Legendary
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Activity: 1106
Merit: 1007
Hide your women
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January 12, 2014, 05:26:36 AM |
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It seems very hard for the price to stay above 1000.
It seems that tens of thousands of coins were bought by speculators at 1000 USD or more, just before the all-time high, on the assumption that the price would keep rising. Some of those speculators must have grown disenchanted and will dump those coins as soon as the price returns to that level. I actually hope that's true, because as soon as the wankers get out of the game, liquidity will dry up and we'll sooner reach a new ATH. I predicted it will take three months to shake out all the weak hands. I'm standing by that prediction. two months to go.
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JorgeStolfi
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January 12, 2014, 05:29:31 AM |
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You statement about $200 is ridiculous. Go check the charts. Bitstamp led the rally from $200. SMH.
Do we mean the same thing? From the 1-day charts at Bitcoinwisdom, bitcoin's October mini-rally first reached ~200 USD briefly on 2013-10-22, then stagnated at or below that level until 2013-11-02, and definitely rose above that level again on 2013-11-03, as the beginning of the big rally. I could not see clearly which exchange started the rally; on the 1-day charts they all seem to have started together. It seems however that the three Chinese exchanges had about 30% of the total volume on 2013-10-22 (the "first time"), and about 50% on 2013-11-03 (the "second time").
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ShroomsKit
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January 12, 2014, 05:56:27 AM |
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It seems very hard for the price to stay above 1000.
It seems that tens of thousands of coins were bought by speculators at 1000 USD or more, just before the all-time high, on the assumption that the price would keep rising. Some of those speculators must have grown disenchanted and will dump those coins as soon as the price returns to that level. I actually hope that's true, because as soon as the wankers get out of the game, liquidity will dry up and we'll sooner reach a new ATH. I predicted it will take three months to shake out all the weak hands. I'm standing by that prediction. two months to go. I've been reading shaking out the weak hands since it was at 100 or so. And i will keep reading about it with every dump this year i'm afraid See what i'm trying to say?
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Richy_T
Legendary
Online
Activity: 2576
Merit: 2268
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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January 12, 2014, 05:58:18 AM |
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I'll just add that that article is a large part of why I jumped on Bitcoin as soon as I found out about it and understood its fundamentals. Curious, what does the article say why this is bad? I can't make out any argument, just a prolonged statement that it is. Oh and the analogies suck. (The fear mongering too) As the website is fond of saying, it's about the meta-context. If you don't see why these things are bad, it probably won't mean much to you. If you can, it explains how the government is creating huge amounts of money and hiding the problem away for someone else to deal with later and actually accelerating the underlying problems (Why are we paying interest on money that nobody is using and where does the money to pay that interest come from anyway? And perhaps more telling, who is it going to?).
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Richy_T
Legendary
Online
Activity: 2576
Merit: 2268
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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January 12, 2014, 06:11:02 AM |
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Curious, what does the article say why this is bad? I can't make out any argument, just a prolonged statement that it is.
As the website is fond of saying, it's about the meta-context. If you don't see why these things are bad, it probably won't mean much to you. If you can, it explains how the government is creating huge amounts of money and hiding the problem away for someone else to deal with later and actually accelerating the underlying problems (Why are we paying interest on money that nobody is using and where does the money to pay that interest come from anyway? And perhaps more telling, who is it going to?). I went back and read the article since it's been a while and you really can't see where it says why it's bad?
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