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TERA
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May 07, 2014, 11:08:25 AM |
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On to more serious matters, why are there such big buy orders on Huobi?
Because of all the hot newses that the exchange owners wrote. |
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Davyd05
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May 07, 2014, 11:09:17 AM |
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good ole spring time optimism
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Teppino
Full Member
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Activity: 139
Merit: 100
bitcoin hates walls
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May 07, 2014, 11:14:20 AM |
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Or same ol' insiders frontrunning
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JorgeStolfi
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May 07, 2014, 11:17:44 AM |
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What if Huobi now has a system in place that would only let the price fluctuate 50 yuan a day? To protect its traders?
edit: I know it sounds crazy but we are dealing with an exchange in distress here.
[...]
fake sells as soon as price rises too much and fake buys as soon as price drops too much? Or stop processing buy or sell orders as soon as max or min price for that day has been reached?
edit: like I said before it is far fetched, but it would kill volatility
A really fake transaction is possible only within the real spread, so it cannot change the price beyond those bounds. I believe MtGOX did that to suggest that the price was rising when there was no volume, OKCoin does that perhaps to increase volume, and other exchanges do that to mask the absence of real trades. That may be why the charts of Bitstamp etc. look like broad bands rather than thin staircases (like BTC-China used to be in the voucher era). To stop the price from rising beyond a certain limit the exchange would have to do real sales of BTC at that chosen price. That would cost the exchange an unbounded amount of BTC, since every buyer who was willing to pay a higher price would buy into the exchange's wall. Ditto for the other direction. After one of the large crashes (forgot the year), real stock exchanges implemented a safety switch that stops trading automatically if the price changes too much too fast. But that cannot be abused: the exchange's job is to make trading possible, if the clients want the price to be X the exchange must let them do it. |
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freebit13
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May 07, 2014, 11:24:27 AM |
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It's not a real pump without a few train pics...HANG ON TIGHT!... CCMF!  |
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p0peji
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May 07, 2014, 11:24:49 AM |
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Shorts closing on Huobi?  |
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TERA
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May 07, 2014, 11:26:53 AM |
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It is a crazy mentality that builds on Huobi every time there is any kind of news and any kind of momentum builds. It's like "Oh my god. It's happening. China must have unbanned bitcoin, and/or this is the end of the bear market - right here is the reversal. I need to buy right now because this is the last bitcoin on Earth before $1,000".
Then later there is some horrific crash.
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Ultros
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May 07, 2014, 11:28:00 AM |
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You're most probably right TERA but still, it's refreshing. Also, trains.  |
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TERA
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May 07, 2014, 11:30:14 AM |
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You're most probably right TERA but still, it's refreshing. Also, trains. I like this train. It is original. Is that the monopoly man? |
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Mythul
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May 07, 2014, 11:30:25 AM |
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OMG ! AFTER MONTHS OF WAITING FINALLY CCMF PICTUREZZZ !!!!1
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p0peji
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May 07, 2014, 11:31:03 AM |
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You're most probably right TERA but still, it's refreshing. Also, trains. Although this movement goes against my positions, it beats seeing this boring stable trendline. |
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Ultros
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May 07, 2014, 11:31:17 AM |
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I like this train. It is original. Is that the monopoly man?
Yup, thought it could be appropriate.  |
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UnDerDoG81
Legendary
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Activity: 2179
Merit: 1201
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May 07, 2014, 11:32:56 AM |
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My first train here   |
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magicmexican
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May 07, 2014, 11:34:15 AM |
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 Last chance to get bitcoins under 1500$. |
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freebit13
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May 07, 2014, 11:36:27 AM |
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Better be quick, don't miss the train!  |
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TERA
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May 07, 2014, 11:37:21 AM |
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Great. Now some Chinese central banker is going to write another article about how "bitcoin prices soared 200 yuan into the moon due to more misleading rumors and this is unacceptable" and act even quicker to close the exchanges.
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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May 07, 2014, 11:39:54 AM |
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 Guys? Did I miss the train? Fuck. I knew it. Alright, that's it, I'm out for good. No point buying in anymore now that I missed it :/ |
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chessnut
Legendary
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Activity: 924
Merit: 1001
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May 07, 2014, 11:40:19 AM |
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yep healthy signs at significant levels. after the weak effort from the bears in the last weeks this will do a lot of damage to the little bearish momentum that is left.
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UnDerDoG81
Legendary
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Activity: 2179
Merit: 1201
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May 07, 2014, 11:40:24 AM |
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At some point we wont need the Chinese anymore... I hope it will be soon...
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