spooderman
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April 16, 2014, 06:57:46 PM |
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any wall movement observing going on here?
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 16, 2014, 07:00:19 PM |
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Bitcoin_is_here_to_stay
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April 16, 2014, 07:03:14 PM |
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any wall movement observing going on here?
Lol - looks like it is just you and the chart buddy. Actually, it is pretty telling sentiment indicator ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Hypnoise
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April 16, 2014, 07:05:20 PM |
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dead-cat-not-even-bounce ... so dead ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif)
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Bitcoin_is_here_to_stay
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April 16, 2014, 07:07:02 PM |
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dead-cat-not-even-bounce ... so dead ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) yeah, at the moment it is like lethargic side-away movement. Seems we're done bouncing - at least for a while.
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billyjoeallen
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Hide your women
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April 16, 2014, 07:07:37 PM |
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Doesn't matter right now. Being American is key. Bullshit. CampBX has been around for over three years. It had excellent design and security for the time. It still does. It remained a backwater even with all the crap Gox put us through, Karpele's House of Buggery remained the main exchange. The Market cannot be wrong. The customer is always right or he's not you customer. The Market is the Market. We don't serve the market we want.. We serve the market we have. I'll jump to second market when there is a market there or if I find an edge. Not before. CampBX has a combined daily deposit/withdrawal limit of $1,000. Please tell me you're joking. That proves my point, not yours. I used it three years ago for the same reason you think people will use Second Market now. Nobody followed. The market jumps when the market jumps, not when you or I think it ought to jump. I'll move there when and if others move there, not before. There is a reason to use SecondMarket. They're a fully registered and compliant brokerage firm. I'll personally definitely be using them when I cash out. There may be plenty of very good reasons to use an exchange, but the main reason to use an exchange is that others are using that exchange. Sellers have to go where the buyers are. Buyers have to go where the sellers are. People are herd animals. Herds have leaders, but leadership comes at a cost. Coinbase had to incentivize by giving $5 of BTC to switch. Safety means little if fees are too high, etc.
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seleme
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Duelbits.com
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April 16, 2014, 07:08:44 PM |
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Of course there are moment when some other exchanges take control for short time but this time, beside his usual biased bullshit Jorge is right in general.
We can deny it as much as we want but Bitcoin is currently China's bitch and largely depends on each fart coming from that part of the world. Their government decisions or even only rumors about them are moving the market as a wheel. It might change at some time surely but right now we are under China's mercy completely and that's awful thing, specially for people who are trading as no skills and indicators can beat a single news coming from China. And their exchanges are in most cases the market leaders.
Well, the details matter here, and jorge's polemics didn't include those: just like, on an average (or not so average) day Bitstamp and Huobi influence each other, so do they on the larger scale. If your model has a rigid structure where Bitstamp price is purely a function of Huobi price, then you will fail to see the (inevitable, in the long run) decoupling of the other markets from China when (and if) China drops out of the game entirely. Didn't say that'd be painless, by the way. Jorge obviously added his Bitcoin ignorance as he always does.
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KeyserSoze
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April 16, 2014, 07:19:30 PM |
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You do seem to be raving at this point Jorge. It's kind of sad.
He's obviously frustrated he'll need to return the party supplies he bought in preparation of Bitcoin hitting zero. I wonder if all his bias, assumptions, and poor judgment will appear in the peer-reviewed conclusion of his "academic research."
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nrd525
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April 16, 2014, 07:20:03 PM |
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BTC-E wall bearish BFX wall bullish Bitstamp wall - maybe mildly bearish
Overall these three combined walls look bearish.
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Hypnoise
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April 16, 2014, 07:38:10 PM |
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BTC-E wall bearish BFX wall bullish Bitstamp wall - maybe mildly bearish
Overall these three combined walls look bearish.
slippage ghost walls for stupid bots
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NewLiberty
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Gresham's Lawyer
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April 16, 2014, 07:41:13 PM |
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Not really the exchange as we are familiar with. I expected more than that. This is not the exchange they're talking about, this is just how they get their coins for the BIT, its been up for a while now. Incidentally, they're very fast and professional. Great way of selling a large amount, a wire from a large registered broker looks better than "Bitstamp Slovenie" You are showing the transfer to people with whom you spend the lower amount BIT pay than Bitstamp because some vendor will give you discounts? Or is this because the lower payout rate of BIT means you have to find some way to justify to someone that you sold under the market rate so you explain how good the wire transfer "looks"?
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JorgeStolfi
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April 16, 2014, 07:53:11 PM |
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I simply don't see the problem: it neither touches the core of Bitcoin's functionality, nor does it present an insurmountable problem for traders.
I did not claim that the Chinese market's dominance affected the functionality of bitcoin as a currency of commerce outside China (except perhaps indirectly, by affecting volatility). China's dominance seems to be quite relevant for the usefulness of bitcoin as a store of value in the medium term (1-2 years), and therefore for bitcoin-based enterprises, such as investment funds and bitcoin-funded ventures. It seems to be essential for day traders, since it means that predicting the price changes, both sudden and gradual, requires understanding the Chinese market and monitoring the Chinese news sources. For example, the following prediction of yesterday's rally (made on Mar/29) was quite banal in that context: https://bitcointalk.org/index.php?topic=178336.msg5970832#msg5970832I find it bizarre that Coindesk had the first interviews with the CEOs of major Chinese exchanges only six months after the October rally, and three-four months after the December crash. And the (apparently) best-informed description of the Chinese bitcoin traders that I have seen was not on Coindesk or Bloomberg, but on the Christian Monitor, of all sources.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 16, 2014, 08:00:20 PM |
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KFR
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April 16, 2014, 08:03:18 PM |
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I find it bizarre that ...
I've noticed the frequency with which you use phrases like "I find it bizarre..." and "I don't understand why..." has increased quite a bit recently. Just an observation.
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fonzie
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April 16, 2014, 08:25:23 PM |
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Bye bye, my time in here is done. PBOC and J.P. Morgan finally paid the rest of the agreed salary. See you all after the top of the next bubble. ![Kiss](https://bitcointalk.org/Smileys/default/kiss.gif)
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JorgeStolfi
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April 16, 2014, 08:28:05 PM |
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Jorge has hypnotised you ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) To interpret his input you need to work from his premise, I believe it goes like this. Bitcoin is not an investment but a bet with unknowable odds. Every input thereafter is an attempt at manipulating the odds in a 0 sum game. That is a brilliant summary. Better said than he ever said it. Indeed, the first part of @Adrian-x's summary of my posts is quite correct, if a bit depressing. (Like realizing, at a conference, that the significant contributions of your 9-year Ph.D. work fit in two slides and can be explained in 20 minutes, including "let's thank the speaker, we have plenty of time for questions". ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) ) The second part is silly, though: what effect could my posts here have on the mood of the Chinese fermented tea bitcoin traders? I belive that the odds of this game are unknowable, but it is not certain that it will be zero-sum (or negative-sum) in the strict sense. It depends on whether bitcoin will survive for a sufficiently long period. He's obviously frustrated he'll need to return the party supplies he bought in preparation of Bitcoin hitting zero.
I told the paper plate and plastic cup supplier to be ready to deliver in mid-June, but warned him that I have absolutely no space left in my office, so he may have to hold them a little longer if The End gets delayed for some reason. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Davyd05
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April 16, 2014, 08:28:37 PM |
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So Jorge can now run people through the risk of bitcoin before they purchase, he'll be like a warning disclaimer.
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barbs
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April 16, 2014, 08:31:01 PM |
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Guess no one noticed the good amount of bid support removed behind 505.. ready to market buy?
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