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

[windjc]

Serious question, for a second:

Does anybody know how much of Bitfinex' volume (on average) is routed to Bitstamp?

Bitstamp's API returns total volume (i.e. their own volume + orders from Bitfinex). Bitfinex' API doesn't distinguish between orders executed "internally" and "externally" either, to my knowledge.

The result is, we can't say for sure how much of the volume on stamp on finex is a duplicate... Can anyone who trades a lot on finex shine some light on this? Maybe you know how much, approximately, is routed to stamp, so we can at least guess how much stamp's volume has to be discounted.

Zero. They decoupled months ago.

Thanks. Also to dreamspark,  F-bernanke.

So the situation changed drastically over the last year, huh? Last time I used finex, they were still routing 50+% to stamp, but that was a year ago or so I admit.

Interesting development. In the past months, I tended to always discount USD volume in my calculations/speculations by, say, 25% because I assumed some of it was reported twice, but maybe that was a mistake.

Coming back to this topic....

Quote from the finex thread:

Wow, spike time! My stop-loss for a short got filled 40 USD (!) above the stop-price I set. Damn. Any suggestions as to how I can make it safer? Is there really nothing that can be done on your side to make the stops work better?  I understand the mechanisms when a big market buy happens, so I guess there's little you can do about it...

Apparently also the Bitstamp USD reserve has been exhausted again. The spike would've been at least 20 lower if this hadn't happened. Which brings us back to the same issues we had in the November rally. Now that you changed the order book integration of Bitstamp we don't have any way of seeing when this happens, the order book just suddenly becomes thinner. Is there any way you could indicate to the users when this is about to happen? Please go back and consider possible solutions.

I understand that you have to minimize the risk of leaving funds on stamp, but when they go to zero, it's usually us traders who have to take the cost for it...

You sure they are 100% decoupled?

I thought they were.  If not, then its news to me. But that was a huge buy that shot it to 630. I think that trader is confused. The numbers add up.

[N12]

Never learns what exactly? I don't trade you idiot.

Can you imagine how unhealthy it is in the longer term when you expose yourself to this kind of stress on a chronic basis? Seriously, think about it. It's one of the major reasons to trade longer timeframes or not at all. You do not trade, yet you expose yourself to things that continuously make you angry (the moments of joy don't make up for it). One either has to learn to not get angry or get away from the charts, at least if you hope to make it past 50.

[lemonte]

Having a little nibble on that first wall on Stamp

Edit: Took a nice big bite as I posted, and on to the next one!!

[ShroomsKit]

200 buy. Nice.

[TERA]

Never learns what exactly? I don't trade you idiot.

Can you imagine how unhealthy it is in the longer term when you expose yourself to this kind of stress on a chronic basis? Seriously, think about it. It's one of the major reasons to trade longer timeframes or not at all. You do not trade, yet you expose yourself to things that continuously make you angry (the moments of joy don't make up for it). One either has to learn to not get angry or get away from the charts, at least if you hope to make it past 50.

He's not only watching short timeframes but taking it to the next level by watching the order book and alayzing movements of individual orders in real time.

[Timmmaahh]

[ShroomsKit_Disgrace]

Never learns what exactly? I don't trade you idiot.

Can you imagine how unhealthy it is in the longer term when you expose yourself to this kind of stress on a chronic basis? Seriously, think about it. It's one of the major reasons to trade longer timeframes or not at all. You do not trade, yet you expose yourself to things that continuously make you angry (the moments of joy don't make up for it). One either has to learn to not get angry or get away from the charts, at least if you hope to make it past 50.

He's not only watching short timeframes but taking it to the next level by watching the order book and alayzing movements of individual orders in real time.

Something totally astonishing taking into account that this guy consumes shrooms! (or at least sells them)  

[Davyd05]

the weekend are when the movement starts.. are they trying to try and make bigger institutional buyers play catch up in the weekdays

I say we hit 650 before retracing again ..but that's a bulls dream

[ShroomsKit]

Getting close 

[Ultros]

I realize how stupid it is but I can't stop looking right now.

[N12]

If we surpass it soon, shroomsy will just find yet another "wall" to get angry over, perplexed at how people can make the decision to sell instead of collectively colluding to let the price rise forever right this instant.

TERA got it right, people feel horribly entitled here.

[Erdogan]

<censored>

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Please people, stop quoting that guy. He consistantly gets "facts" completely wrong. I don't think he's stupid, so he must be doing it on purpose, ie trolling.

Second Market has bought over 100,000 bitcoins. That makes them in fact one of the largest buyers in the world.

Yes. JS is the worst kind of troll: one that speaks with an academic and level-headed authority but wastes no opportunity to stick the knife in. Why does he spend so much time on this forum when he could just get a life and wait until (he hopes!) Bitcoin crashes and burns, and then come back here laughing and gloating? The reason is extreme butt-hurt of the first order by missing out buying in at $1 a coin. Now the strategy is to talk (troll) the price down which has the dual goal of punishing all those who did get in early, while possibly enjoying a new chance to do the same at 2010 prices.

1. Set up a simplistic model

2. Falsify the data

3. Conclude with authority

4. Ignore the informed critique

5. Depend on the masses to not bother to investigate.

This is basically the devastating effect the bought up intellectuals have on the public discourse.


 

[TERA]

Nobody place a sell order. Let's just rally btc to $1,000,000 right now and get it over with.

[macsga]

CCMF!!!!1

[ShroomsKit]

I realize how stupid it is but I can't stop looking right now.

It's exciting. I'm extremely hungry though so i'm done.

[Miz4r]

Don't bother Shroomskit never learns, he always cracks me up.

Never learns what exactly? I don't trade you idiot. Something the idiot troll mod also fails to understand. Can't blame him though, he's not exactly the brightest around here. And you, are you bright?

My comment was not about your trading but about your constant stream of live emotional commentary every single time someone sells some coins as if he's the stupidest person on earth preventing the next big rally to form all on his own. We know you don't understand the behavior of the market at all and have to comment on every little thing in this thread, but don't you ever get tired of it? Just let it go man, markets will never become rational so just learn how to move with it and understand its little quirks or just don't look at 1m charts. But why am I even trying, you will continue to do what you do anyway just because you can.

[wachtwoord]

This is it.

[4mherewego]

Prediction for the next few hours:

The wall at 600 will be partly pulled, then we will see a rush to 620, then slow walk to 635, from there a crash down to 600 before the prices stabilizes around 610 again.

Quote me if I am right.

[gizmoh]

windjc, its the last spike you've been calling for.. nothing weird  

Edit: BTW time to dump DRK, the symbol been removed from Finex page.

[TERA]

I think if $650+ were reached, it would be a major resistance which would last about a month and begin with a drop to $550.