derpinheimer
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Merit: 1000
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February 24, 2014, 04:16:59 AM |
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Good news guys, Mt. Gox is down to 170 again I woke up this morning crying that I hadn't bought at 220 because I hadn't bought at 160 Well lucky me, I didn't buy at 330 Hope you got your goxcoins while the getting was good. It's snapping back pretty hard now. No. I think I've learned my lesson now . Hoping this is a bull trap Down we go.
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MatTheCat
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February 24, 2014, 04:17:19 AM |
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220 bull trap do you think? Normally, Gox storming up would have the other exchanges following it automatically. However, Bitstamp has this 8.5K wall and obviously will not budge, thus is holding the multi-exchange, 'recovery' back. Lets you see how automated most of it all is.
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derpinheimer
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February 24, 2014, 04:18:51 AM |
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220 bull trap do you think? Normally, Gox storming up would have the other exchanges following it automatically. However, Bitstamp has this 8.5K wall and obviously will not budge, thus is holding the multi-exchange, 'recovery' back. Lets you see how automated most of it all is. Gox has its own monster 1.2k bid wall. WOWOWOWOW BTW, if Gox is solvent.. Mark is the biggest, most amazing troll.. ever.
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Arcas
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February 24, 2014, 04:19:49 AM |
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220 bull trap do you think? Normally, Gox storming up would have the other exchanges following it automatically. However, Bitstamp has this 8.5K wall and obviously will not budge, thus is holding the multi-exchange, 'recovery' back. Lets you see how automated most of it all is. Gox has its own monster 1.2k bid wall. WOWOWOWOW It's not quite as impressive if you look at the $ amount.
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derpinheimer
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February 24, 2014, 04:20:41 AM |
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220 bull trap do you think? Normally, Gox storming up would have the other exchanges following it automatically. However, Bitstamp has this 8.5K wall and obviously will not budge, thus is holding the multi-exchange, 'recovery' back. Lets you see how automated most of it all is. Gox has its own monster 1.2k bid wall. WOWOWOWOW It's not quite as impressive if you look at the $ amount. I know, it was a joke hehe. BTW, about 1000 coins from the ask wall have been eaten. (Another ~1000 were sold in to bid depth)
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surfer43
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Activity: 560
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"Trading Platform of The Future!"
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February 24, 2014, 04:20:56 AM |
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Has there been a point in Bitcoin's history where it was as volatile as Goxcoin has been in the last 3 days? This is bizarre.
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MatTheCat
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February 24, 2014, 04:22:23 AM |
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Granted it could be some clueless chinese guy who did a simple order with default USD price, then he saw the price and thought that is way too few yuan mom, so he figured out a limit order after canceling the simple one. so now he will never sell for 5 years maybe. It seems unlikely though becuase he did this price swing several times so it seems more like he/they is trying to manipulate people's behavior. 10K coins isn't enough to dent bitcoin, but he can fuck with stupid people's pysche's with it, at today's volumes. Another interesting feature. Is when MtGox started charging back up (with its 90% fake volume), all the other exchanges followed, but Bitstamp didn't budge which resulted in the 'recovery' charge being halted across all exchanges, since Bitcoin trading is largely automated with dumb bots all hooked up to cross exchange market action. In the meantime, dozens upon dozens of obviously bot triggered buy orders are nibbling the 10K sell order (which is now a 8K sell order) down.
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adamstgBit
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February 24, 2014, 04:23:01 AM |
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Has there been a point in Bitcoin's history where it was as volatile as Goxcoin has been in the last 3 days? This is bizarre.
pretty sure GOX is as crazy as it gets.
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derpinheimer
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February 24, 2014, 04:23:39 AM |
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Has there been a point in Bitcoin's history where it was as volatile as Goxcoin has been in the last 3 days? This is bizarre.
Yes. April 10.
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solex
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Activity: 1078
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100 satoshis -> ISO code
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February 24, 2014, 04:28:22 AM |
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The market wants to go UP. That wall will get eroded faster and faster..
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adamstgBit
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February 24, 2014, 04:29:02 AM |
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if bitfinex uses stamp's liquidity why doesn't the 10K 7K order show up on bitcoinity
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surfer43
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February 24, 2014, 04:29:08 AM |
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fake wall #Mt. Gox
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analytics
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February 24, 2014, 04:32:02 AM |
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Max I wonder how many bots look into the open order book too, besides your good point on cross exchanges. For someone with some coin to risk and some guts, they might be testing thresholds/dumbness on bots looking at the order book?
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iarsenaux
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February 24, 2014, 04:32:12 AM |
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is that wolong playing on bitstamp? shakeout phase?
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surfer43
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February 24, 2014, 04:32:38 AM |
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The wall is there for it to disappear. We will head below 150 when it does.
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podyx
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February 24, 2014, 04:32:45 AM |
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seems quite many people are buying into it bullish
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derpinheimer
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Activity: 896
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February 24, 2014, 04:33:05 AM |
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Even if the wall goes down, thats $6mill of money on the sidelines taken away. Its not a good thing no matter what happens. Unlikely the whale would re enter.
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octaft
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February 24, 2014, 04:33:26 AM |
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Was that all? I was expecting so much more.
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adamstgBit
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February 24, 2014, 04:34:44 AM |
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if bitfinex uses stamp's liquidity why doesn't the 10K 7K order show up on bitcoinity
It showed the max liquidity -- was ~1300. Now it's gone. No more buys (on Stamp) from Bitfinex for now. I see they can only offer as much as the fiat reserves they have there... now they need to wire more cash. say oh idk about 5million
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kkaspar
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banned but not broken
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February 24, 2014, 04:34:54 AM |
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Hmm, interesting at stamp with the 8k sell wall. Usually only altcoins get these outrageous visible sell/buy walls, that will magically get eaten in an hour with a volume that equals the entire previous week. Don't be surprised if soon, it seems like everyone suddenly will start "buying" that wall, and then, after the wall has been "bought", no rise will come, only a slow downfall
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