ChartBuddy
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April 07, 2014, 03:00:33 AM |
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chessnut
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April 07, 2014, 03:01:48 AM |
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1k sell wall at bitfinex.... lets see how long that lasts.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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April 07, 2014, 03:03:39 AM |
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someone is playing god and manipulating bitcoin market right now.=)
agreed. I think they have been playing it for a long time though. yeah, but BTC-e charts i soooo artificial, likely coused by one or few persons playing in team:) 100% agree. Not even sure it's people. It feels like it's something bigger like a corporation, hedge fund, or some government with unlimited funds. maybe there are more than 13 million BTC out there, and we're all getting scammed to hell. 3 black crows ! huobi Well, we already know that once BTC is off of the blockchain and the transactions are taking place off of the blockchain, then much manipulation is possible, including increasing the number of BTC that are supposedly in existence within that sphere. Gox seemed to have been example of precisely that b/c Gox seemed to have been knowingly and willingly trading with BTC that they knew they did NOT have. Will be interesting if anyone is convicted for any crimes (such as fraud) concerning that behavior. I hope they throw the book at the desert coffee guy. as for going off the chain. It's very easy, I bet about 10% of other alt coin forum members know how to do it. just the connect=x.x.x.x (ip address) is needed in the config file, and change the seed node in net.cpp change the p2p port. then recompile, connect with 2 PC's and you can mine getting all the blocks on a different block chain, forked from the original at the point of divergence. Not that, that will get you anywhere, but it just shows how easy some stuff is if you mess with the source code. There will be someone out there, thats cleverer than Gavin Anderson or any other member of the BTC team. It worries me! Bitcoin is still beta! and we are still experimenting... the forum member Dreamwatcher developed a tool that may save the situation in the future. It's a distribution tool, meaning that bitcoin if needed can be changed into a whole new crypto, and the existing balances can be maintained from the original chain. He used it effectively on UFC coin when it moved from scrypt hash to Blake256. Open a new wallet on the new coin, with your old wallet.dat file and your coins magically appear. These guys are so cleaver it's scary. These are all very good points, yet they are even above and beyond the point that I was making. I was saying that most of the exchanges or even some services like silkroad or some other service allows you to create an account. Thereafter, those transactions within the service are taking place off of the blockchain, and allows for manipulation of how many BTC are being used to employ the services of the business.. and whether they even have as many BTC as customers have given to them. And, that causes a manipulation of potentially creating more than 21 million BTC b/c these kinds of entities could be engaging in a form of fractional reserve... .and we may NOT be able to know or detect such fractional reserve practices until we want to get our coins from them (or everyone wants their coins). arrr... yer .. Im with ya now Yep trading a database number price not actual BTC. I guess if BTC does survive the next few years, people will move to regulated exchanges. what makes BTC great is also it's weakness. I believe that your initial point ( I believe it was yours) that I was responding to had something to do with the question about whether we were all being manipulated.. and that there were more coins than we thought (12.5 million or whatever our current quantity is). I suggested that exchanges may be doing this, too.. working outside the original intent of bitcoin and the blockchain. I doubt that a long term and meaningful solution needs to be regulation or regulated exchanges.. b/c that would likely lead bitcoin back down the slippery slope of fiat money and the whole printing problem. I am no fricking expert, but I am of the understanding that there are various kinds of decentralized exchange solutions in development, including through mastercoin, and colored coins and Nxt that would potentially address these kinds of exchange issues, so we do NOT have to work off of the blockchain and we do not have to give up our coins to third parties and lack of transparency. Whether these kinds of solutions will be sufficient or solve more problems than they create may be another story.. but it will likely take some time for adoption of these kinds of decentralized solutions. Others here probably can speak much more eloquent to the point than me, that's for sure.
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billyjoeallen
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Hide your women
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April 07, 2014, 03:04:47 AM |
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And the griping that rich people have disproportionate influence over your future is infantile. I'd rather have rich people with disproportionate influence than poor people. They are much worse.
If Ayn Rand had a dick, how far down your throat do you think it would be? 3 inches? 4? The whole goddamn 8? I dunno. How far up your ass do you keep your copy of Das Kapital?
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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April 07, 2014, 03:06:12 AM |
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And the griping that rich people have disproportionate influence over your future is infantile. I'd rather have rich people with disproportionate influence than poor people. They are much worse.
If Ayn Rand had a dick, how far down your throat do you think it would be? 3 inches? 4? The whole goddamn 8? If Ayn Rand had a dick, it would only be 2 inches in total.. .so your hypothetical is giving too much credit.
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delphic
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April 07, 2014, 03:06:50 AM Last edit: April 07, 2014, 09:59:16 PM by delphic |
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Bitcoin will have its day in Congress. Is that Roosevelt on the right, standing up?
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billyjoeallen
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Hide your women
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April 07, 2014, 03:11:24 AM |
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look at those Bitfinex ask walls. Wer'e in for some discount coins! Hope everyone's got their fiat handy.
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KeyserSoze
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April 07, 2014, 03:19:46 AM |
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Especially when those people learn that such scams keep occurring, the lost bitcoins dollars are never recovered, and no one gets punished.
Sounds like Wall Street and modern banking. Lotsa folks continuing to invest there.
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octaft
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April 07, 2014, 03:20:14 AM |
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And the griping that rich people have disproportionate influence over your future is infantile. I'd rather have rich people with disproportionate influence than poor people. They are much worse.
If Ayn Rand had a dick, how far down your throat do you think it would be? 3 inches? 4? The whole goddamn 8? I dunno. How far up your ass do you keep your copy of Das Kapital? Can you breathe through your nose or do you have to take breaks?
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aminorex
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Sine secretum non libertas
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April 07, 2014, 03:20:41 AM |
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What does "manipulation" even mean to you?
DDOS'ing the bitcoin protocol, DDOS'ing the forum, the exchanges, spreading false rumors, stealing coins, using stolen funds to push the market. Using other people's computers against their will to attack the network. By bitching about manipulation, all you are telling me is that you can't hack this game and should go away... The free market's a jungle and you sound like you'd be happier in a zoo.
Crimes and torts are not the free market. I'm telling you that any community that can not or will not defend itself will not survive.
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aminorex
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Sine secretum non libertas
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April 07, 2014, 03:22:22 AM |
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And the griping that rich people have disproportionate influence over your future is infantile. I'd rather have rich people with disproportionate influence than poor people. They are much worse.
If Ayn Rand had a dick, how far down your throat do you think it would be? 3 inches? 4? The whole goddamn 8? I dunno. How far up your ass do you keep your copy of Das Kapital? Can you breathe through your nose or do you have to take breaks? Get a room, you two.
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seleme
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Duelbits.com
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April 07, 2014, 03:22:36 AM |
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It's btc-e bot, it is operating for 10-15 days now at least. On first look pointless bot losing the money but last time it appeared we dropped from 480 to 410 soon.
ouch! for real ? do you remember the time and date it was last seen? March 31st/April 1st. Can't recall it was up after that, certainly not in this kind of 4-5 series. looking at that 480 - 410 drop, the only similarity I can see between now, and then is the 4 hour MACD, they are at very similar stages. and about the same volume. Maybe this is triggering the bot. EDIT: 4 hour MACD Hm, nice find... only thing is that it was about at same time CHina news came. If we could only find out if bot was around on 4hr MACD previous down cross.
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seleme
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Duelbits.com
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April 07, 2014, 03:25:18 AM |
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It's btc-e bot, it is operating for 10-15 days now at least. On first look pointless bot losing the money but last time it appeared we dropped from 480 to 410 soon.
ouch! for real ? do you remember the time and date it was last seen? March 31st/April 1st. Can't recall it was up after that, certainly not in this kind of 4-5 series. looking at that 480 - 410 drop, the only similarity I can see between now, and then is the 4 hour MACD, they are at very similar stages. and about the same volume. Maybe this is triggering the bot. EDIT: 4 hour MACD Looks similar, but RSI is way lower so the move down will be smaller, IMHO. Were are already half way down on 4hr RSI and the price stays above 450. Unless something extraordinary happens, the price should not fall below 430 when RSI gets into oversold and bounce again. MACD can try to cross, revert and continue upwards. RSI was pretty similar back then too. Just above 50 back then and few hours ago when it was operating.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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April 07, 2014, 03:31:21 AM |
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What does "manipulation" even mean to you?
DDOS'ing the bitcoin protocol, DDOS'ing the forum, the exchanges, spreading false rumors, stealing coins, using stolen funds to push the market. Using other people's computers against their will to attack the network. Yeah, but what about the example in which an exchange takes your bitcoin and then gambles with them, and then gets into such a hole b/c BTC prices go in one direction while they are betting in another direction, then even though they intended to pay you back, they do NOT have sufficient funds. That is NOT exactly stealing of the coins.. They were borrowing without permission and then they fucked up.. If we give the benefit of the doubt to GOX, that may have been what they were doing. I call it manipulation b/c they are presenting themselves to the public as having all of the coins when they only have less than 25% of the coins. Manipulation?
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chessnut
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April 07, 2014, 03:36:15 AM |
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this is a possibility. bidders are still bidding up the support, wedges resolve in continuation.... maybe not time to short.... not yet anyway.
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infofront (OP)
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Shitcoin Minimalist
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April 07, 2014, 03:41:33 AM |
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What does "manipulation" even mean to you?
DDOS'ing the bitcoin protocol, DDOS'ing the forum, the exchanges, spreading false rumors, stealing coins, using stolen funds to push the market. Using other people's computers against their will to attack the network. Yeah, but what about the example in which an exchange takes your bitcoin and then gambles with them, and then gets into such a hole b/c BTC prices go in one direction while they are betting in another direction, then even though they intended to pay you back, they do NOT have sufficient funds. That is NOT exactly stealing of the coins.. They were borrowing without permission and then they fucked up.. If we give the benefit of the doubt to GOX, that may have been what they were doing. I call it manipulation b/c they are presenting themselves to the public as having all of the coins when they only have less than 25% of the coins. Manipulation? If you pay someone to hold onto something for safekeeping and they gamble it away and then tell you to go fuck yourself, I'd call that theft.
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Richy_T
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April 07, 2014, 03:43:16 AM |
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Refuelling almost complete, US tax refunds inbound and new season of Game of Thrones started. Hold on tight, chaps.
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chessnut
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April 07, 2014, 03:43:23 AM |
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Oh dear, bitfinex walls are gone in a flash. who could have seen that coming? lol
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aminorex
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Sine secretum non libertas
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April 07, 2014, 03:44:42 AM |
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Refuelling almost complete, US tax refunds inbound and new season of Game of Thrones started. Hold on tight, chaps.
Word of advice: using the word "martingale" in a post is trolling, in these parts.
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ChartBuddy
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April 07, 2014, 04:00:32 AM |
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