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fotosonics
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March 31, 2014, 02:10:56 AM |
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CCMF. Party insiders at Weigo-Xiuxiu Nau have confirmed that they are expecting to see a huge upswing in both price and volume this week. Once again thanks to Proudhon for the tip.  What is "huge?" How do you define, "huge?"  |
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chessnut
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Activity: 924
Merit: 1001
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March 31, 2014, 02:14:17 AM |
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Time to close shorts bears??
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Tyson95
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March 31, 2014, 02:17:53 AM |
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I like to be optomistic but only 500 to 450 is a bit scary.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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March 31, 2014, 02:20:47 AM |
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I'm all fine and dandy with your assessment that whales are NOT being obvious on exchanges.. ... however, if you read my post above, I am suggesting that prices are gotten from exchanges.. so exchange prices are manipulated... It may NOT be for the purposes of directly obtaining coins, but it does seem to be for the purpose of manipulating price.
Are any of you suggesting that BTC price comes from anywhere other than from the exchanges?
The spot price comes from the markets in total through various types of arbitrage. People who have visibility into other more opaque markets probably do dabble on the exchanges for fun and profit so the exchanges are an actual reflection of the total market. But they have enough lag such those who have only public exposure (a majority of participants by body count) end up getting skewered over time. When the tide is rising it is not noticed so much. When the tide is going out is when the impacts are felt most significantly. In my post above here: https://bitcointalk.org/index.php?topic=178336.msg5993520#msg5993520I am describing why I think that exchanges set prices and that whale manipulation of prices is taking place on exchanges and that there is an incentive to manipulate prices - even if the big purchases are taking place outside of exchanges. Oh, I've always taken it as a near certainty that the exchanges themselves are completely corrupt in terms of spot price. I also expect that they do favors for their insider friends. Some exchanges may not, but I assume it anyway. Bitcoin exchanges really are the 'free market' in that they are unencumbered by any form of regulation or ethics. Most of them are (demonstrably) just waiting for the best opportunity to have a 'hack' and walk away with people's money. I had a relatively high degree of confidence in Tradehill-I back in the day, but I still bent over backwards to limit my exposure. If you are good at reading the tea leaves, this innate corruption in the Bitcoin ecosystem (Libertarian utopia that it is) might be able to be read and played upon. In a similar way I figure there is probably some truth to the assertions that the gold and silver markets are artificially depressed with paper instruments. That's awesome as long as I'm a buyer (only physical in my case) and I've yet to need to switch sides and need to sell. Seems like we may be kind of in agreement, even though we are using different ways of expressing and different examples to make similar points. So your gold and silver examples also seem to support my points in that we already get the sense that gold and silver prices are manipulated, and gold is about a 7 trillion dollar market - which is about 1000 times larger than bitcoin.. and if they can manipulate gold then it must be quite a bit easier to manipulate bitcoin.. maybe NOT exactly 1000 times easier... but some magnitude easier. IN that regard, my suggestion is that if you can manipulate the prices on the exchanges, then that manipulation has a magnification effect and benefit beyond the exchanges.. and the manipulator can reap the benefits outside of the exchanges from whatever it had cost him to manipulate on the exchanges. Here's my earlier described example:
For example, if an institutional investor can manipulate prices, and it costs that institutional investor, let's say for argument sake 1 million to manipulate BTC prices downward.. but the institutional investor is able to acquire, 20,000 BTC for average of $500 per BTC rather than average of $650, then that institutional investor has just saved $2 million. $3million saved from purchase of coins at lower price at $1million cost to manipulate the market downward = $2 million profits overall. Surely the numbers work out differently with different quantities of BTC purchases. If an institutional investor wants to acquire 200,000 BTC, then multiply that by 10, and you get $30million savings and the institutional investor may be willing to take large losses on exchanges to keep the prices down and to save and to get 200,000 BTC at $500 average rather than $650 average.
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JorgeStolfi
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March 31, 2014, 02:23:37 AM |
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The main Western exchanges that took part in this partial crash were Bitstamp, Bitfinex and BTC-e. Kraken had very small volume, 2.23 kBTC max, on Thursday; and LakeBTC did not budge from the usual 3--4 kBTC.
Typically, those three exchanges were churning ~20 kBTC per day. On Thursday, Friday and Sunday, they traded ~220 kBTC above that baseline in total.
In China, Huobi, OKCoin and BTC-China together had ~50 kBTC of trade last Sunday, and ~170 kBTC daily from Monday to Wednesday. On Thursday, Friday and Sunday they had about 360 + 270 + 130 = 760 kBTC traded above those baselines.
It is hard to interpret these numbers, since many of those coins were probably traded many times, both in China and outside it. However, we may perhaps say that at most 220 kBTC were exported from China to those three exchanges by the arbitrage traders during the crash.
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chessnut
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March 31, 2014, 02:28:59 AM |
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It's only $7,- of price pump. Lets just wait till it surpasses that magical $666 line.  Yes. Tired of all the hasty abuse of train images. People do that each time there's a small jump, ignorant that each time they're making noise it's for a much lower price than the last time they made noise. And no sooner does someone yell "CCMF" than the price begins to dive again, deeper than the previous low. Kids these days. .... the sentiment is not bullish right now! ALWAYS there will be people crying ccmf and MOON and a few of them will be right! |
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fotosonics
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March 31, 2014, 02:30:36 AM |
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CCMF. Party insiders at Weigo-Xiuxiu Nau have confirmed that they are expecting to see a huge upswing in both price and volume this week. Once again thanks to Proudhon for the tip. What is "huge?" How do you define, "huge?" Er...is it similar to awesome? Looking for numerical definition, price range, of this "confirmation." |
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farnsworth7
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March 31, 2014, 02:37:25 AM |
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Er...is it similar to awesome? Looking for numerical definition, price range, of this "confirmation." Hint : Weigo-Xiuxiu Nau = "we go choochoo now". A well-known and reliable source. |
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adamstgBit
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Trusted Bitcoiner
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March 31, 2014, 02:39:45 AM |
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jonoiv
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March 31, 2014, 02:41:57 AM |
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So we should hit the bottom on April fools day? |
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fotosonics
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March 31, 2014, 02:47:10 AM |
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In China, I'd say bearish, given the Communist Party's desire to control/quash anything that might have a chance to perhaps come close to potentially pose even the slightest hint of opposition to their control over the people. In other words, if a student replies that the risk is high and bitcoin should be avoided, this will contribute to a passing grade and acceptance to their university of choice. If anything, it's a gauging tool for a government curious about bitcoin's popularity. |
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chessnut
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March 31, 2014, 02:47:21 AM |
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BULLISH! GREAT! we teach students to prepare them for the future right.... not to mention that the censorship in china is huge. this would not get past if they were threatened by bitcoin. |
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adamstgBit
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Trusted Bitcoiner
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March 31, 2014, 02:48:34 AM |
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So we should hit the bottom on April fools day? what chart you looking at? this screams BUY BUY BUY to me  |
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Davyd05
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March 31, 2014, 02:56:51 AM |
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Wow permabulls turning bear  . I feel much despair and capitulation in this thread. I even feel like "ok, f* it, i will look again in 2 months what the price is again." I'm glad i bought at low double digits though. better cash out now cuz you aint gonna see this price again You are wrong, time will prove that. time has proven that this was true. |
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PoolMinor
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XXXVII Fnord is toast without bread
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March 31, 2014, 03:03:13 AM |
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CCMF. Party insiders at Weigo-Xiuxiu Nau have confirmed that they are expecting to see a huge upswing in both price and volume this week. Once again thanks to Proudhon for the tip. Traders @ Tuda Mune concur. |
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Davyd05
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March 31, 2014, 03:06:43 AM |
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CCMF. Party insiders at Weigo-Xiuxiu Nau have confirmed that they are expecting to see a huge upswing in both price and volume this week. Once again thanks to Proudhon for the tip. Traders @ Tuda Mune concur. I love how BTC-E has been less sheepish than other exchanges.. and they brought in Yuan today eh? either way...bitcoin needs to become a distinct market place where we don't get hit with the horde mentality on bad news, to conclude it's just a matter of time before people come to understand it. |
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chessnut
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March 31, 2014, 03:21:45 AM |
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Huobi leading the way. 350 BTC order chasing the price up!
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billyjoeallen
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Hide your women
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March 31, 2014, 03:24:24 AM |
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What are the chances that any FUD we get tomorrow will be shrugged off as an April Fool's joke?
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Davyd05
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March 31, 2014, 03:29:10 AM |
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What are the chances that any FUD we get tomorrow will be shrugged off as an April Fool's joke?
Tuesday you mean, unless you're experiencing Monday I'm still 34 minutes out. I doubt China would April fools us..but I mean weirder things have happened. I think the market is ready to absorb the news as false...and then digest the possible regulations being added but I just don't see an outright ban on bitcoin...why waste time on posting it...to somehow give your people a chance at dumping first.. that seems way too altruistic |
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