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T.Stuart
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January 12, 2014, 04:07:54 PM |
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The volume levels... [etc.]
A visual representation of market sentiment about Bitcoin's future in the US and many other countries around the world...  |
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TERA
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January 12, 2014, 04:10:29 PM |
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So many bull arguments; so little volume totals.
 Your analysis is just wrong, here is a rough graph of $volume for the past year at MtGOX only. Remember in April Gox totally dominated, but $ volume in the December rally at Gox alone was higher than the April rally. $ Volume has increased massively over the last year especially if we include the other exchanges. (Apologies for the roughness of the graph x axis=time, Y-axis is $ volume per day) Dont care about dollar volume. dollar volume combined with X dollars per unit can simplified as Y unit volume. It's always going to be a constant unit volume which has significance to move a market by some percentage. |
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mmitech
Legendary
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Activity: 1148
Merit: 1001
things you own end up owning you
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January 12, 2014, 04:13:20 PM |
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Look at BTC-e order book someone pushing the price up ? a wall of 1000 BTC @ $850
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prof7bit
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January 12, 2014, 04:15:04 PM |
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Beautiful!  |
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fluidjax
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January 12, 2014, 04:18:10 PM |
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So many bull arguments; so little volume totals.
Your analysis is just wrong, here is a rough graph of $volume for the past year at MtGOX only. Remember in April Gox totally dominated, but $ volume in the December rally at Gox alone was higher than the April rally. $ Volume has increased massively over the last year especially if we include the other exchanges. (Apologies for the roughness of the graph x axis=time, Y-axis is $ volume per day) Dont care about dollar volume. dollar volume combined with X dollars per unit can simplified as Y unit volume. It's always going to be a constant unit volume which has significance to move a market by some percentage. Obviously you don't care about dollar volume, because it doesn't support your desperate bearish stance. The rest of you comment is nonsense. |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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January 12, 2014, 04:20:15 PM |
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Look at BTC-e order book someone pushing the price up ? a wall of 1000 BTC @ $850
that a really nice wall, NO ONE SELL INTO IT or i will personally bitch slap you.  |
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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January 12, 2014, 04:24:26 PM |
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Look at BTC-e order book someone pushing the price up ? a wall of 1000 BTC @ $850
that a really nice wall, NO ONE SELL INTO IT or i will personally bitch slap you. Overstock will take it out. |
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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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January 12, 2014, 04:24:48 PM |
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Dont care about dollar volume. dollar volume combined with X dollars per unit can simplified as Y unit volume. It's always going to be a constant unit volume which has significance to move a market by some percentage.
That's cool, I'm ONLY interested in Dollar volume. The US Dollar is a better indication of purchasing power than Bitcoin (until the end of the Bitcoin singularity). |
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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January 12, 2014, 04:26:04 PM |
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Look at BTC-e order book someone pushing the price up ? a wall of 1000 BTC @ $850
that a really nice wall, NO ONE SELL INTO IT or i will personally bitch slap you. Overstock will take it out. doubtful that wall is nearly 1million dollars. |
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Richard Branson
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January 12, 2014, 04:26:41 PM |
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Yes indeed, and this is not even the volume in USD.
You can't count bot volume as market volume. Same with huobi. That is no real volume. With low or zero fees there is allways I high volume, even if there are only 2 bots trading with 0.01 btc. |
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TERA
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January 12, 2014, 04:28:55 PM |
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Dont care about dollar volume. dollar volume combined with X dollars per unit can simplified as Y unit volume. It's always going to be a constant unit volume which has significance to move a market by some percentage.
That's cool, I'm ONLY interested in Dollar volume. The US Dollar is a better indication of purchasing power than Bitcoin (until the end of the Bitcoin singularity). So when BTC is trading at $10,000, will you will still believe the same USD volume is significant enough to move the price by the same amount? What about $100,000? Eventually only 1 bitcoin of volume will be needed to support a huge rally. Is that correct? |
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fluidjax
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January 12, 2014, 04:29:53 PM |
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Yes indeed, and this is not even the volume in USD.
You can't count bot volume as market volume. Same with huobi. That is no real volume. With low or zero fees there is allways I high volume, even if there are only 2 bots trading with 0.01 btc. I guess all the figures are meaningless then, prices too... may as well give up now. |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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January 12, 2014, 04:30:11 PM |
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Dont care about dollar volume. dollar volume combined with X dollars per unit can simplified as Y unit volume. It's always going to be a constant unit volume which has significance to move a market by some percentage.
That's cool, I'm ONLY interested in Dollar volume. The US Dollar is a better indication of purchasing power than Bitcoin (until the end of the Bitcoin singularity). So when BTC is trading at $10,000, will you will still believe the same USD volume is significant enough to move the price by the same amount? What about $100,000? Eventually only 1 bitcoin of volume will be needed to support a huge rally. Is that correct? thats fine by me! i stopped selling hole bitcoins long ago |
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proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
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January 12, 2014, 04:32:22 PM |
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Look at BTC-e order book someone pushing the price up ? a wall of 1000 BTC @ $850
that a really nice wall, NO ONE SELL INTO IT or i will personally bitch slap you. Overstock will take it out. doubtful that wall is nearly 1million dollars. The Chinese government will probably start buying stuff on Overstock so that Overstock is forced to crash the price and destroy bitcoin. You heard it hear first. |
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Davyd05
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January 12, 2014, 04:32:55 PM |
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was reading the rp obsever thread, something tells me he knows we counter trade his posts loooool
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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January 12, 2014, 04:35:43 PM |
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Look at BTC-e order book someone pushing the price up ? a wall of 1000 BTC @ $850
that a really nice wall, NO ONE SELL INTO IT or i will personally bitch slap you. Overstock will take it out. doubtful that wall is nearly 1million dollars. The Chinese government will probably start buying stuff on Overstock so that Overstock is forced to crash the price and destroy bitcoin. You heard it hear first. yes i'm sure the Chinese government would rather unload BTC vs there infiniti nearly infinite mountain of USD. |
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prof7bit
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January 12, 2014, 04:39:19 PM |
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Yes indeed, and this is not even the volume in USD.
You can't count bot volume as market volume. There is no difference. It doesn't matter whether a trader's organism is based on carbon or silicon. He/it is still a trader and his/its liquidity is liquidity and his/its trading volume is trading volume. |
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ElectricMucus
Legendary
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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January 12, 2014, 04:40:07 PM |
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that wall will poof so fast after just 100btc of volume sold above it. There are no bids accumulating so the wall owner seems to take them out regularly.
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pietje
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January 12, 2014, 04:43:14 PM |
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One way or another, it will likely be shut down somewhere in the future. And i dont want to be in btc when that happens, tricky part is to know when to sell and not be asleep or something..
For now i just went back to btc.
You are playing safe, which is commendable, but if you are long-term, a big gamble. The news recently has been huge and Bitcoin is spreading throughout the world like wildfire. You are passing on the chance to ride it up because of a possibility to catch a dip caused by something that might not ever happen. Thats why i just went back to btc after this huobi news/dip Im not saying im already acting on something that might happen, but if it does i will. The whole China thing should be in the past. It won't get banned any time soon over there but if it does Bitcoin has easily got room to grow ten times bigger in the US alone this year. But we're not even talking about a ban - it's about more restrictions with money flow - and still people are running for the hills. If you panic with the sheep you are just wasting time and delaying the inevitable... and taking a real risk that you'll sell at the wrong moment and buy back more expensive. True, with trading you always take risks. But as long as you make more good calls then bad ones you make a profit. Key is to sell before the sheeps and buy back before the sheeps. Don't bother to sell/buy when the panic already started. Also agree that China should be in the past, sadly it isnt. Look at today's events, all due to Huobi. |
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wachtwoord
Legendary
Offline
Activity: 2324
Merit: 1125
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January 12, 2014, 04:44:15 PM |
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Dont care about dollar volume. dollar volume combined with X dollars per unit can simplified as Y unit volume. It's always going to be a constant unit volume which has significance to move a market by some percentage.
That's cool, I'm ONLY interested in Dollar volume. The US Dollar is a better indication of purchasing power than Bitcoin (until the end of the Bitcoin singularity). So when BTC is trading at $10,000, will you will still believe the same USD volume is significant enough to move the price by the same amount? What about $100,000? Eventually only 1 bitcoin of volume will be needed to support a huge rally. Is that correct? I'm not talking about a moving price. You're crying the price is unstable because of low Bitcoin denominated volume. You're comparing the Bitcoin denominated volume to when Bitcoin had a lower price. I think you're making the mistake you accuse me of making  |
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