fonzie
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February 24, 2014, 12:13:13 AM |
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I do not understand the reasoning behind the bots on BSP. After a large sell there is always an equally large buy a few seconds after. What is the reasoning behind it?
It´s probably shorts that get closed/triggered automatically. When there is not enough ask depth they shoot through the roof as they get triggered as market order. Edit: Bitfinex works through Stamps orderbook.
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RicePicker
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RicePicker
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February 24, 2014, 12:15:32 AM |
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I do not understand the reasoning behind the bots on BSP. After a large sell there is always an equally large buy a few seconds after. What is the reasoning behind it?
It´s probably shorts that get closed/triggered automatically. When there is not enough ask depth they shoot through the roof as they get triggered as market order. Edit: Bitfinex works through Stamps orderbook. That makes sense. Bitfinex's order book was completely wiped out down to $600. I guess a lot people had their buys to close their shorts at $600
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adamstgBit
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February 24, 2014, 12:16:42 AM |
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I do not understand the reasoning behind the bots on BSP. After a large sell there is always an equally large buy a few seconds after. What is the reasoning behind it?
![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fthebitcoinreview.com%2Ffunny_gif_about_bitcoin-s500x236-408262.gif&t=665&c=dQY1z_8dQGlzNw)
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solex
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February 24, 2014, 12:17:24 AM |
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I do not understand the reasoning behind the bots on BSP. After a large sell there is always an equally large buy a few seconds after. What is the reasoning behind it?
Different people. A market is a always a fine balance between those greedy that it will go up and those fearful it will fall further. Large trades are normally human-triggered. Bots do all the incessant micro buys and sells.
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MatTheCat
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February 24, 2014, 12:18:11 AM |
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Edit: Bitfinex works through Stamps orderbook.
Why would the price have been bid up to $629? Who is sitting on Bitfinex with a trading algorithm that says if the price crashes to $595, I want 500 BTC, even if the price is bid up to $629 and normalisation of the market puts me underwater within 20 seconds of trade completing? Also, I was sitting on BItfinex having gone short at $628. As soon as I seen Bitstamp hit $629 on a massive bounce, I closed my position with market order on Bitfinex at $600 (back in short at $609).
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tarmi
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February 24, 2014, 12:20:04 AM |
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or someone is just painting the tape.
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JorgeStolfi
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February 24, 2014, 12:20:33 AM |
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I won't comment on the selling of Bitcoin as a way to "escape volatility" of the Euro. You already know my opinion on that, I will just note that the video seems to have been produced for the already converted. It uses the bitcoiner slang "fiat" to refer to ordinary money, for example; that will send frissons down the spine of the faithful, but should be lost on the common folk that the bank aims to (aehm) attract, no? I was almost expecting it to end with "CCMF!" ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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RicePicker
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February 24, 2014, 12:22:34 AM |
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Edit: Bitfinex works through Stamps orderbook.
Why would the price have been bid up to $629? Who is sitting on Bitfinex with a trading algorithm that says if the price crashes to $595, I want 500 BTC, even if the price is bid up to $629 and normalisation of the market puts me underwater within 20 seconds of trade completing? There is always a terrible delay between the prices at Bitstamp and BFX. I am guessing bots are executing market buys thinking they are buying at $595 when they are actually driving the price up to $630.
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roslinpl
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February 24, 2014, 12:23:22 AM |
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mtgox irc channel became unlocked some minutes ago
Why was it locked? In case some of Mt.Gox's bitcoins fell out of it, due to bugs in the IRC protocol. yes yes it is all due to some bugs for mtgox cases
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fonzie
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February 24, 2014, 12:23:32 AM |
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I do not understand the reasoning behind the bots on BSP. After a large sell there is always an equally large buy a few seconds after. What is the reasoning behind it?
It´s probably shorts that get closed/triggered automatically. When there is not enough ask depth they shoot through the roof as they get triggered as market order. Edit: Bitfinex works through Stamps orderbook. That makes sense. Bitfinex's order book was completely wiped out down to $600. I guess a lot people had their buys to close their shorts at $600 It makes more sense to close position with limit orders.... The dumps and buys were both on Bitstamp. Someone on Bitfinex dumped like 700 coins after the dump on Stamp, but it seemed to have been covered on Bitfinex's order book. Just compare the charts -- that volatility was all on Stamp. It´s hard to tell for me right now, as Bitcoinwisdom hasn´t been working here for the last 20 hours. Of course limit orders are the only logical option to close shorts in this range. But i think a trailing stop would work as market order? Maybe someone chose the wrong option, or maybe it wasn´t shorts that have been triggered, it was just an assumption ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) .
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Vycid
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February 24, 2014, 12:23:53 AM |
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I won't comment on the selling of Bitcoin as a way to "escape volatility" of the Euro. You already know my opinion on that, I will just note that the video seems to have been produced for the already converted. It uses the bitcoiner slang "fiat" to refer to ordinary money, for example; that will send frissons down the spine of the faithful, but should be lost on the common folk that the bank aims to (aehm) attract, no? I was almost expecting it to end with "CCMF!" ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I actually agree with you. I was imagining some Cypriot granny watching this ad on her TV with a disinterested glazed-over expression. It's slick, but the important thing Neo needs to develop is customer trust, because they want deposits. This seems too slick to inspire confidence - banks are supposed to be boring. Also: any existing Bitcoin users will see no benefit from using Neo, as far as I can tell, so they NEED to be converting those grannies. Then again, I don't know the public attitude in Cyprus. Maybe people are fed up enough with the banks to deposit at an uninsured and unproven place like this.
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MatTheCat
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February 24, 2014, 12:28:59 AM |
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There is always a terrible delay between the prices at Bitstamp and BFX. I am guessing bots are executing market buys thinking they are buying at $595 when they are actually driving the price up to $630.
As I added to my post. I witnessed Stamp spike to $629, and I immediately closed my Bitfinex short with a market order at $600. If this spike was Bitfinex's doing, then I would not have been able to close my short at $600.
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KeyserSoze
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February 24, 2014, 12:30:37 AM |
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I will just note that the video seems to have been produced for the already converted. It uses the bitcoiner slang "fiat" to refer to ordinary money, for example; that will send frissons down the spine of the faithful, but should be lost on the common folk that the bank aims to (aehm) attract, no?
The already converted likely don't have much desire for a Bitcoin bank. And you don't need to keep air-quoting fiat. Government decreed currencies are fiat money.
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empowering
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February 24, 2014, 12:32:23 AM |
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I won't comment on the selling of Bitcoin as a way to "escape volatility" of the Euro. You already know my opinion on that, I will just note that the video seems to have been produced for the already converted. It uses the bitcoiner slang "fiat" to refer to ordinary money, for example; that will send frissons down the spine of the faithful, but should be lost on the common folk that the bank aims to (aehm) attract, no? I was almost expecting it to end with "CCMF!" ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Yeah I agree it is not the style of marketing that will appeal to all... but you have to think, this is in Cyprus , think about what happened there... not so much to do with Euro volatility, more to do with bad leadership, and the people there feel very strongly about their wealth, and frankly if the system has screwed them they have every right to want to change it no matter what, and I think this advert will resonate very stongly in Cyprus... But if you look at their other teasers, they look different. Also this is one company, one attitude, one style... the marketing will evolve and grow as the ecosystem does... people will seek to fill unfilled niches. This is one of MANY that we will see this year and next Jorge- wait for one that has a NY address, or a City of London address ; ) then I am sure we will see a supposedly much slicker style of tomfoolery marketing bunkem charade bs that is designed for the "common folk" you refer to which I am sure will make every one feel all warm inside.
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empowering
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February 24, 2014, 12:33:46 AM |
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I won't comment on the selling of Bitcoin as a way to "escape volatility" of the Euro. You already know my opinion on that, I will just note that the video seems to have been produced for the already converted. It uses the bitcoiner slang "fiat" to refer to ordinary money, for example; that will send frissons down the spine of the faithful, but should be lost on the common folk that the bank aims to (aehm) attract, no? I was almost expecting it to end with "CCMF!" ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I actually agree with you. I was imagining some Cypriot granny watching this ad on her TV with a disinterested glazed-over expression. It's slick, but the important thing Neo needs to develop is customer trust, because they want deposits. This seems too slick to inspire confidence - banks are supposed to be boring. Also: any existing Bitcoin users will see no benefit from using Neo, as far as I can tell, so they NEED to be converting those grannies. Then again, I don't know the public attitude in Cyprus. Maybe people are fed up enough with the banks to deposit at an uninsured and unproven place like this. Do you think the cypriot granny would like this better ? http://www.youtube.com/watch?v=4kH2kihfdfk It makes sense to target more than one demographic, and maybe even in a particular order too... I am guessing that the people that are not grannies, will be the people that are more liekly to decide to give it ago first .... Also - for the the thing that is also exciting is what Neo Bee are actually offering... that Neo Bee Bitcoin debit card looks neat- I want one ASAP
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Vycid
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February 24, 2014, 12:35:05 AM |
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I won't comment on the selling of Bitcoin as a way to "escape volatility" of the Euro. You already know my opinion on that, I will just note that the video seems to have been produced for the already converted. It uses the bitcoiner slang "fiat" to refer to ordinary money, for example; that will send frissons down the spine of the faithful, but should be lost on the common folk that the bank aims to (aehm) attract, no? I was almost expecting it to end with "CCMF!" ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I actually agree with you. I was imagining some Cypriot granny watching this ad on her TV with a disinterested glazed-over expression. It's slick, but the important thing Neo needs to develop is customer trust, because they want deposits. This seems too slick to inspire confidence - banks are supposed to be boring. Also: any existing Bitcoin users will see no benefit from using Neo, as far as I can tell, so they NEED to be converting those grannies. Then again, I don't know the public attitude in Cyprus. Maybe people are fed up enough with the banks to deposit at an uninsured and unproven place like this. Do you think the cypriot granny would like this better ? http://www.youtube.com/watch?v=4kH2kihfdfk That's a terrible commercial. If I didn't know what Neo was, I'd assume they made rope shears or something.
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empowering
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February 24, 2014, 12:36:09 AM |
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I won't comment on the selling of Bitcoin as a way to "escape volatility" of the Euro. You already know my opinion on that, I will just note that the video seems to have been produced for the already converted. It uses the bitcoiner slang "fiat" to refer to ordinary money, for example; that will send frissons down the spine of the faithful, but should be lost on the common folk that the bank aims to (aehm) attract, no? I was almost expecting it to end with "CCMF!" ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) I actually agree with you. I was imagining some Cypriot granny watching this ad on her TV with a disinterested glazed-over expression. It's slick, but the important thing Neo needs to develop is customer trust, because they want deposits. This seems too slick to inspire confidence - banks are supposed to be boring. Also: any existing Bitcoin users will see no benefit from using Neo, as far as I can tell, so they NEED to be converting those grannies. Then again, I don't know the public attitude in Cyprus. Maybe people are fed up enough with the banks to deposit at an uninsured and unproven place like this. Do you think the cypriot granny would like this better ? http://www.youtube.com/watch?v=4kH2kihfdfk That's a terrible commercial. All commercials are terrible ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) my point was a Cypriot granny , would prefer that , than te one with the dubstep , but they have both been made.. ALSO they are teasers? so not finished and edited products yet?
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Vycid
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February 24, 2014, 12:37:33 AM |
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That's a terrible commercial. All commercials are terrible ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) my point was a Cypriot granny , would prefer that , than te one with the dubstep , but they have both been made.. Sure... but it seems to me that the dubstep commercial had a much higher production value, so they've got their priorities all mixed up. ALSO they are teasers? so not finished and edited products yet?
Maybe, but a guy shrugging with a spool of rope doesn't strike me as a great teaser concept. I think it's important to remember that there are a lot of people on these forums invested in NeoBee stock, so it's to their benefit to talk up how great the advertising campaign is.
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empowering
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February 24, 2014, 12:39:48 AM |
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That's a terrible commercial. All commercials are terrible ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) my point was a Cypriot granny , would prefer that , than te one with the dubstep , but they have both been made.. Sure... but it seems to me that the dubstep commercial had a much higher production value, so they've got their priorities all mixed up. Patience young grasshopper ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fstatic.guim.co.uk%2Fsys-images%2FFilm%2FPix%2Fpictures%2F2008%2F11%2F11%2Fkaratekid460.jpg&t=665&c=JHaZZ6uD_l5mZg)
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MANofthePEOPLE
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February 24, 2014, 12:47:37 AM |
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How far are we going today? Quite a bit of resistance at 595
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