Parazyd
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May 31, 2014, 04:46:58 PM |
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Regarding volume, I tried to register for Bitstamp a few months ago, and it asked me for a scan of my passport and social security card.
That's not just a no, it's a "Fuck No".
That with the rumored difficulty of withdrawing, Bitstamp's KYC procedure has effectively killed off its volume.
Say wha? Where are you from? When I made my account, my ID card and a phone bill was enough. EDIT: And I don't see any difficulties in withdrawal, be it fiat or BTC.
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oda.krell
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May 31, 2014, 04:47:54 PM |
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In the event of no good or bad press, based on the charts we're due for another pop over 630 approximately June 2-3.
I've been saying it for the last few days and I will say it again. $666 by Monday. Once the walls are removed/eaten that's the next stop. It seams to be a favorite hangout spot and then we will either crash back to $610-$605 or continue our rise. If we break $700 we will see a new ATH before any significant down turn. I'm not saying you're wrong about $666 after the weekend, or even breaking $700 fairly soon. But I keep wondering how people can start seriously getting excited about the next ATH when volume still looks like this: [...] At some point between now and a new ATH we will need to see at least the volume of the peak days. Right now, we're at about a third to a fifth of that peak volume. To be clear: that's not my way of saying that this rally is doomed. just that it seems way premature to even mention a new ATH before we're seeing similar volume spikes again as we did before, with upwards of 100k coins per day USD volume (and, yes, I'm okay with summing over stamp, finex and btc-e to have that count towards 100k) Because many of us believe that a lot of volume has gone off-market, but strangely still has a similar effect on the price. Agreed on the increased fraction of off-exchange volume. But disagreed on the notion that it would affect price more or less as if it were on-exchange. On-exchange volume is needed to drive on-exchange price, that's my belief. I'll formulate it in the form of a falsifiable hypothesis: before seeing $1200 on Bitstamp, we will have to see at least one instance of 3d xbt volume above 300k, summing up over the major USD exchanges (currently: stamp, finex, btc-e).
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adamstgBit
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May 31, 2014, 04:49:02 PM |
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What does "100k coins per day USD volume" even mean?
probably means that the float would change hands weekly
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Wolf Rainer
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May 31, 2014, 04:50:33 PM |
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The 622 sell wall it´s getting eat very fast, from 750 to 590 in lest than half hour. In 4 o 5 hours we will pass the 622 wall.
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oda.krell
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May 31, 2014, 04:50:58 PM |
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At some point between now and a new ATH we will need to see at least the volume of the peak days. Right now, we're at about a third to a fifth of that peak volume.
To be clear: that's not my way of saying that this rally is doomed. just that it seems way premature to even mention a new ATH before we're seeing similar volume spikes again as we did before, with upwards of 100k coins per day USD volume (and, yes, I'm okay with summing over stamp, finex and btc-e to have that count towards 100k)
The volume (measured in bitcoins) of the rise to $1200 didn't come close to the volume of the rise to $260 and the volume of the rise to $260 was much less than the volume during previous rallies. Why do we have to change now? What does "100k coins per day USD volume" even mean?Careless phrasing. XBT volume traded against USD. Better now? And about the other point: I didn't say when we're at a new peak point that we'd have to see the same coin volume as during the previous peak. But at some point in between, I'd expect to see similar volume.
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ihaveaquestion
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May 31, 2014, 04:51:57 PM |
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Regarding volume, I tried to register for Bitstamp a few months ago, and it asked me for a scan of my passport and social security card.
That's not only a no, it's a "Fuck No".
That with the rumored difficulty of withdrawing, Bitstamp's KYC procedure has effectively killed off its volume.
That is not rumored, i personally know a guy who tried a withdrawal 2 months ago which has been cancelled for no reason after 1 week. He finally got his money after 2 weeks, but it was just a couple hundreds $. This story plus the questions they ask retroactively whereas they are not legit are enough for me to be sure i will not trade there. But dear daytraders keep waiting for the volume to be back in Bitstamp within this new framework.
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Peter R
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May 31, 2014, 04:52:25 PM |
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At some point between now and a new ATH we will need to see at least the volume of the peak days. Right now, we're at about a third to a fifth of that peak volume.
To be clear: that's not my way of saying that this rally is doomed. just that it seems way premature to even mention a new ATH before we're seeing similar volume spikes again as we did before, with upwards of 100k coins per day USD volume (and, yes, I'm okay with summing over stamp, finex and btc-e to have that count towards 100k)
The volume (measured in bitcoins) of the rise to $1200 didn't come close to the volume of the rise to $260 and the volume of the rise to $260 was much less than the volume during previous rallies. Why do we have to change now? We don't. One could argue that Coase Theorem would suggest that trade volume measured in BTC should decrease as the distribution of bitcoins becomes more efficient (e.g., as time goes on or as adoption continues). What does "100k coins per day USD volume" even mean?
I think he just means the volume of those coins that directly trade against USD (e.g., ignoring the questionable volume on the Chinese exchanges).
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Parazyd
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May 31, 2014, 04:53:19 PM |
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Ask in the dedicated Bitstamp thread or email them.
Are you experiencing trouble when withdrawing USD?
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ShroomsKit
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May 31, 2014, 04:58:38 PM |
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The 622 sell wall it´s getting eat very fast, from 750 to 590 in lest than half hour. In 4 o 5 hours we will pass the 622 wall.
That's not fast.
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BBmodBB
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May 31, 2014, 04:59:52 PM |
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What does "100k coins per day USD volume" even mean?
probably means that the float would change hands weekly imo we may be looking at another 100 million USD buying in here...a major breakthrough is on the horizon!! =) weeee
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ChartBuddy
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May 31, 2014, 05:00:30 PM |
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MICRO
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May 31, 2014, 05:03:34 PM |
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There is no TA in the Bitcoin market. The prices are controlled by whales who pump and dump how and when they like. And also by the news. 2 things the traders can't control or predict. All they can do is run behind it and hope they get lucky.
And that's exactly what you see most traders here do.
TA in Bitcoin is more pure, moreso than Wall Street and stocks. Even with Willie and the Chinese trading bots, there is way more manipulation on Wall Street than in Bitcoin which makes it easier to read. If you use TA correctly, it's the study of human mentality, jubilation, capitulation and breaking points. This is a perfect example: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FT25ZAUj.png&t=665&c=pRm5CgJxLYmLxg) Ahahaha.... Fcn hell . That is soo true and good example . And its happening now. People that sold at lower prices now will buy in.
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Cassius
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May 31, 2014, 05:03:46 PM |
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I wonder what effect the HODL mentality will have on volume. Everyone seems to be expecting this clockwork, 9 month peak-to-peak, order-of-magnitude rally. That suggests a self-fulfilling target at which people are more likely to sell (why sell at $2000, which might otherwise seem perfectly reasonable, if you're pretty sure we'll see $3,000 before long?)
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JayJuanGee
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May 31, 2014, 05:07:13 PM |
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Dont Forget......Very bullish on thread count we will break 7000 in 2 hours ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) What about the day that Bitcoin prices surpass the number of thread pages on the Wall Observer? Now that is worth a party! I had already made a prediction about that; however, I cannot remember what it was. I think my prediction was in the $20k region, and in a couple of years, the thread pages will be 20K and the bitcoin prices will reach parity, let me guestimate, now, April or May 2016.
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shmadz
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May 31, 2014, 05:07:54 PM |
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Dont Forget......Very bullish on thread count we will break 7000 in 2 hours ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) What about the day that Bitcoin prices surpass the number of thread pages on the Wall Observer? Now that is worth a party! would be interesting to watch... We should start drawing a log chart with the BTC exchange rate and the number of posts in this thread and watch the "spread" shrinking week after week ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Done - We are roughly looking at September 2015, unless we align during the March 2015 bubble cycle... ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fi62.tinypic.com%2Fjuk6jd.jpg&t=665&c=fopvuvqjOg2e8A) edit: Sorry about all the white space! (*white space removal free of charge ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) this is beautiful. Thank you. What about the day that Bitcoin prices surpass the number of thread pages on the Wall Observer? Now that is worth a party!
Totally agree! and that day shall become known as an international holiday. Wall Observer Thread Parity Day! (*I'm sure someone can come up with a better name*) But yeah, logarithmic functions are really mind blowing, for example: computers were not even imagined 1000 years ago. the internet was not even imagined 100 years ago. a solution to the problem of the double-spend* issue was not even imagined 10 years ago... I wonder what the next 1 year might bring? *also - quick thought I just had about that whole Byzantine Generals problem, which I have heard people say that bitcoin apparently solved. I'm not so sure about that.
I wonder if the computer science part of the problem was even addressed at all. I think what satoshi did was provide an incentive model as a workaround to the problem. By providing the generals enough incentive, you can effectively prevent them from acting maliciously, but this system still can not provably prevent malicious actors in the Byzantine Generals problem. at least as far as I understand it.
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derpinheimer
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May 31, 2014, 05:09:28 PM |
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And there is the 3th 522 wall, wonder how much this guy is going to sell
bitmaintech selling their btc to fiat ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) That explains the funny looking chart.. So the wall was eaten twice? Might be the guy who kept placing and pulling a ~1700 BTC wall.. if so, this is the last of their coins.
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oda.krell
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May 31, 2014, 05:14:14 PM |
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One could argue that Coase Theorem would suggest that trade volume measured in BTC should decrease as the distribution of bitcoins becomes more efficient (e.g., as time goes on or as adoption continues). Agreed. I'm not one of those who believe that USD volume must increase linearly with coin price. However, somewhere in between a new price level and the old one, we seem to briefly pick up to the old volume levels, during the last stages of a rally.
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JayJuanGee
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May 31, 2014, 05:16:39 PM |
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Dont Forget......Very bullish on thread count we will break 7000 in 2 hours ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) What about the day that Bitcoin prices surpass the number of thread pages on the Wall Observer? Now that is worth a party! would be interesting to watch... We should start drawing a log chart with the BTC exchange rate and the number of posts in this thread and watch the "spread" shrinking week after week ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Done - We are roughly looking at September 2015, unless we align during the March 2015 bubble cycle... ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FRXl4Cfi.gif&t=665&c=GwFrTWaur5VvHw) edit: Sorry about all the white space! I like this much better than my prediction; however, I believe that it is more likely that the page to price parity will come later (like 6 months to 1 year later). But I am NOT so skilled as to make my own graphic depiction.
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MICRO
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May 31, 2014, 05:19:57 PM |
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There is no TA in the Bitcoin market. The prices are controlled by whales who pump and dump how and when they like. And also by the news. 2 things the traders can't control or predict. All they can do is run behind it and hope they get lucky.
And that's exactly what you see most traders here do.
TA in Bitcoin is more pure, moreso than Wall Street and stocks. Even with Willie and the Chinese trading bots, there is way more manipulation on Wall Street than in Bitcoin which makes it easier to read. If you use TA correctly, it's the study of human mentality, jubilation, capitulation and breaking points. This is a perfect example: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FT25ZAUj.png&t=665&c=pRm5CgJxLYmLxg) Ahahaha.... Fcn hell . That is soo true and good example . And its happening now. People that sold at lower prices now will buy in. A large portion of the posts I see on this forum (especially this sub-forum) seem to have the sole purpose of getting people to act according to that image. I think the smartest thing I've done since getting involved with Bitcoin (ignoring hindsight) is to simply avoid acting (or reacting) at all. Someone like MatTheCat would call me all sorts of interesting names for doing exactly that though! U are probably right. In bitcoin we should probably ignore "clues" . I think bitcoin is hardest market to "read" . I did not rly got into all this to much , i just cant see the patterns. I guess im not born for that ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . But im closely watching this thread and trying to learn.
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F-bernanke
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May 31, 2014, 05:22:14 PM |
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I wonder what effect the HODL mentality will have on volume.
Good point.
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