Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[windjc]

Why is BFX buy side of the orderbook blocked (maybe its just me)? They have always had a fully visible orderbook...

Some asshole filled the whole orderbook with 0.001 bids. BFX should ban him.

Are they allowing bots now or did some idiot do this manually?  If so, he must have wanted to hide the orderbook. Why else would he do it?

[mooncake]

The PBOC ban will catalyze the technological innovation in decentralized exchanges.

Buyer will directly transfer fiat to the seller through online banking. With some cryptography the auditor could verify the bank transaction without knowing the online banking password of the payer or payee. This is not only theoretical. The actual development is in progress. Read more at: https://bitcointalk.org/index.php?topic=173220.msg6160307#msg6160307

PBOC can't kill bitcoin. What doesn't kill you makes you stronger.

What is the motivation to become an auditor or escrow agent?

[F-bernanke]

Why is BFX buy side of the orderbook blocked (maybe its just me)? They have always had a fully visible orderbook...

Some asshole filled the whole orderbook with 0.001 bids. BFX should ban him.

Are they allowing bots now or did some idiot do this manually?  If so, he must have wanted to hide the orderbook. Why else would he do it?

They allow bots, but minimal amount is 0.01.

I think someone wrote a script that places the orders via their normal site which allows 0.001 bids.

And yes, i suspect the idea is to hide the orderbook...

[windjc]

Why is BFX buy side of the orderbook blocked (maybe its just me)? They have always had a fully visible orderbook...

Some asshole filled the whole orderbook with 0.001 bids. BFX should ban him.

Are they allowing bots now or did some idiot do this manually?  If so, he must have wanted to hide the orderbook. Why else would he do it?

They allow bots, but minimal amount is 0.01.

I think someone wrote a script that places the orders via their normal site which allows 0.001 bids.

And yes, i suspect the idea is to hide the orderbook...

People are becoming desperate to stop the bear market.

Problem is, if Houbi sells off, the market is going down whether people can see it or not. If anything, it will cause more panic, not less.

[windjc]

Anyone get the obvious feeling that those are fake bid walls on Houbi in front of 2650?

[cech4204a]

Pboc is making a mess, but they can't prevent people from using bitcoin, they can only reduce trading on exchanges, which means less hoarding. On 10th of May, there will be panic when exchanges start closing their doors, but someone i waiting for that to eat and drink cheap, that someone is also very optimistic based on poll.

[greenlion]

The PBOC ban will catalyze the technological innovation in decentralized exchanges.

Buyer will directly transfer fiat to the seller through online banking. With some cryptography the auditor could verify the bank transaction without knowing the online banking password of the payer or payee. This is not only theoretical. The actual development is in progress. Read more at: https://bitcointalk.org/index.php?topic=173220.msg6160307#msg6160307

PBOC can't kill bitcoin. What doesn't kill you makes you stronger.

PBOC really dug their own grave on this one.

They could've taken this whole thing seriously and just lightly regulated domestic exchanges to conform to their capital control policies and everything could've been fine. "Recharging" online exchange accounts could've just required the same procedures as obtaining CNH for example. That would have given them exactly the control they want in this situation and all the RMB exchanges would've played ball.

Instead, they've MASSIVELY incentivized technological innovation to circumvent their controls. This never ends well.

[billyjoeallen]

PBOC can't kill bitcoin. What doesn't kill you makes you stronger.

I agree with this, but in the short term that which doesn't kill you makes you cheaper.

[Davyd05]

I think they're statements are shaping up to be hot air...unless they we're hoping to maximize the length of a bear market then mission accomplished

[ChartBuddy]

Explanation

[jl2012]

PBOC can't kill bitcoin. What doesn't kill you makes you stronger.

I agree with this, but in the short term that which doesn't kill you makes you cheaper.

As you have survived the 2011 great bear market, you are here for long-term, aren't you?

[greenlion]

The long protracted bear markets are super necessary for the long-term success of this thing. We need alot more infrastructure and service platform development and innovations before being ready for any of the trillion-plus market cap use cases lighting up, and Bitcoin's possible future Eternal September.

[windjc]

What sucks the most about what is happening in China, is that once margin trading and HFT are obselete, volatility is going to be WAY down.

I think we may have a BORING market for the next several months.

There might be very little going on.

I do think that this will initially cause us to lose traders both in China and elsewhere making the market go down.

But overall, the profitability of trading may become obsolete too.

[TERA]

What sucks the most about what is happening in China, is that once margin trading and HFT are obselete, volatility is going to be WAY down.

I think we may have a BORING market for the next several months.

There might be very little going on.

I do think that this will initially cause us to lose traders both in China and elsewhere making the market go down.

But overall, the profitability of trading may become obsolete too.

This would be bad for traders but good for bitcoin ultimately, although I don't forsee it lasting very long. Someone somewhere is going to eventually come along and take the role of the crazy high volume market maker.

[windjc]

What sucks the most about what is happening in China, is that once margin trading and HFT are obselete, volatility is going to be WAY down.

I think we may have a BORING market for the next several months.

There might be very little going on.

I do think that this will initially cause us to lose traders both in China and elsewhere making the market go down.

But overall, the profitability of trading may become obsolete too.

This would be bad for traders but good for bitcoin ultimately, although I don't forsee it lasting very long. Someone somewhere is going to eventually come along and take the role of the crazy high volume market maker.

I dont really agree that volatility is bad for bitcoin. Bitcoin is not ever going to be perma-stable unless/until 1 BTC=5 or 6 figures.

But for right now, we could be stable for many months and that sucks.

[rpietila]

But for right now, we could be stable for many months and that sucks.

I agree. In my wildest dreams from long time ago, I thought bitcoin could start rising in June. Then it was July and ATH in August.

I actually still support that scenario. Talking about Bitcoin, a quarter-year is a quarter-century.

[ChartBuddy]

Explanation

[billyjoeallen]

PBOC can't kill bitcoin. What doesn't kill you makes you stronger.

I agree with this, but in the short term that which doesn't kill you makes you cheaper.

As you have survived the 2011 great bear market, you are here for long-term, aren't you?

Correct.

[ShroomsKit]

But for right now, we could be stable for many months and that sucks.

I agree. In my wildest dreams from long time ago, I thought bitcoin could start rising in June. Then it was July and ATH in August.

I actually still support that scenario. Talking about Bitcoin, a quarter-year is a quarter-century.

Basically what you are saying is that you were wrong. That you don't know shit. That you can't predict where the price goes any better than any other person here. That your endless madman analysis is bullshit and that you might as well throw some dice instead. Ok, noted.

[windjc]

But for right now, we could be stable for many months and that sucks.

I agree. In my wildest dreams from long time ago, I thought bitcoin could start rising in June. Then it was July and ATH in August.

I actually still support that scenario. Talking about Bitcoin, a quarter-year is a quarter-century.

Basically what you are saying is that you were wrong. That you don't know shit. That you can't predict where the price goes any better than any other person here. That your endless madman analysis is bullshit and that you might as well throw some dice instead. Ok, noted.

Shroomskit just trolls everyone who speculates on the speculation forum. lol.