Richard Branson
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January 12, 2014, 04:47:43 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. It's trading volume, but you can't extract any usefull informations about the market. If the volume goes up because of 0% fee, this is no bullish/bearish sign. These bots and 0% exchanges don't help to see any market trends. You can't see if there are more people buying into bitcoin or leaving the market, because the biggest volume is from bots.
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JorgeStolfi
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January 12, 2014, 04:50:15 PM |
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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.
Sorry to repeat, but a transaction can be considered fake only if the same person or organization is selling to himself. If the two sides are distinct and competing traders, the transaction is legitimate volume, whether it is done manually or through robots. Is there evidence that truly fake transactions are occurring on Huobi (more than on MtGox or other exchanges)? Day traders obviously prefer to trade on zero-fee exchanges; that alone seems a good explanantion of why Huobi has such a large volume.
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prof7bit
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January 12, 2014, 04:50:43 PM |
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These bots and 0% exchanges don't help to see any market trends. You can't see if there are more people buying into bitcoin or leaving the market, because the biggest volume is from bots.
Bots are people too. They have money to lose and they want to make profits from trading. Just like human traders too.
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macsga
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Strange, yet attractive.
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January 12, 2014, 05:09:21 PM |
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* macsga is on board... It's the Sunday ChooChoo...
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fotosonics
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January 12, 2014, 05:13:02 PM |
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So we keep bouncing back. "It ain't about how hard you can hit. It's about how hard you can get hit. An' keep comin' back!"
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Erdogan
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January 12, 2014, 05:16:43 PM |
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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) The article says that at the same time credit is expanded in the housing and sovereign bond market, credit is sucked out of the private space. This is done through the banks, they have deposited their money with the fed. A dollar deposited with the fed, is multiple dollars removed from the private sector due to the fractional reserve banking money multiplier. The banks have done this because the fed started to pay interest on the voluntary excess reserves. The sum withdrawn from the private sector matches the expansion in government debt. This is bad, because it adds to the planned economy and reduces the free economy.
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wachtwoord
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January 12, 2014, 05:30:55 PM |
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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. All free market haters in the world: "The problem is not and never was ‘market failure’. It was and continues to be incorrigible government and inevitably corruptible politicians and regulators."
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ElectricMucus
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Marketing manager - GO MP
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January 12, 2014, 05:31:48 PM |
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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) The article says that at the same time credit is expanded in the housing and sovereign bond market, credit is sucked out of the private space. This is done through the banks, they have deposited their money with the fed. A dollar deposited with the fed, is multiple dollars removed from the private sector due to the fractional reserve banking money multiplier. The banks have done this because the fed started to pay interest on the voluntary excess reserves. The sum withdrawn from the private sector matches the expansion in government debt. This is bad, because it adds to the planned economy and reduces the free economy.You are presenting a Circular argument. In case you haven't noticed: Excess reserves aren't supposed to be in the public hand in the first place or part of any economy. And that they aren't suggests that the FED is doing something right.
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adamstgBit
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January 12, 2014, 05:58:27 PM |
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ok whos dumping on the btc-e wall, speak up.
lol
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mellowyellow
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January 12, 2014, 06:00:02 PM |
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ok whos dumping on the btc-e wall, speak up.
lol
I can't believe that 850 wall on btc-e it's already down to 270, it was around 900 to start with?
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adamstgBit
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January 12, 2014, 06:02:05 PM |
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ok whos dumping on the btc-e wall, speak up.
lol
I can't believe that 850 wall on btc-e it's already down to 270, it was around 900 to start with? well its gone now
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adamstgBit
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January 12, 2014, 06:03:47 PM |
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the plunge is coming, everyone must make the pledge! its now or never lemmings.
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QuestionAuthority
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You lead and I'll watch you walk away.
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January 12, 2014, 06:04:02 PM |
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My sell order filled last night. How long did we stay over 1000? 4 hours -2 hours?
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dgarcia
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January 12, 2014, 06:07:28 PM |
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I don't understand this game! Realy, pure madness
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adamstgBit
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January 12, 2014, 06:09:12 PM |
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My sell order filled last night. How long did we stay over 1000? 4 hours -2 hours?
sounds about right hope you kept a few to sell if we go back over 1$ i'm playing it cool and selling TINY little bits at a time.
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wendel
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January 12, 2014, 06:09:23 PM |
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I don't understand this game! Realy, pure madness +1
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adamstgBit
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January 12, 2014, 06:11:54 PM |
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I don't understand this game! Realy, pure madness don't feel bad, in this game, no one has a clue, but everyone is convinced they know better. and so we swing about wildly until its clear that it will never stop going up ( this is usually a good sign that its near the top -_- ) so much fun!
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QuestionAuthority
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You lead and I'll watch you walk away.
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January 12, 2014, 06:12:20 PM |
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My sell order filled last night. How long did we stay over 1000? 4 hours -2 hours?
sounds about right hope you kept a few to sell if we go back over 1$ i'm playing it cool and selling TINY little bits at a time. Yeah, I kept half and will buy into the best substantial drop.
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magicmexican
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January 12, 2014, 06:13:47 PM |
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What does these big buy walls that dont mind getting eaten usually mean?
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adamstgBit
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January 12, 2014, 06:17:26 PM |
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What does these big buy walls that dont mind getting eaten usually mean?
<joke> obama is buying coins because he knows bitcoiners that sell will spend into the economy ASAP because they believe in inflation. they call it stimulus plan B! so far so good. </joke>
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