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Author Topic: Selling into the weekend?  (Read 1921 times)
AtomicTrader
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June 16, 2011, 08:02:35 PM
 #1

People selling into the weekend, which is known to experience large sells?
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DamienBlack
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June 16, 2011, 08:48:42 PM
 #2

Fragment sentence into the forum, which is know to cause confusion?

I trade bitcoin options at https://bitoption.org/ ... Join me.
I play poker at https://betco.in/ ... Join me.
Support the bitcoin economy, what do you do?
Tips: 1NfXhiTFEdKQTdLy49s6DYAP1K7MeFWyao
imperi
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June 16, 2011, 08:50:02 PM
 #3

Fragment sentence into the forum, which is know to cause confusion?

Post count 14, expect you what?
DamienBlack
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June 16, 2011, 08:54:56 PM
 #4

My 14th post was:

Quote
So it seems to be that the issue is that the transaction data and the generation address get hashed, and then the nonce is added and it is all hashed again like this:

{generation address}+{transaction data} -> {block hash}

{block hash}+{nonce} -> {final hash}

The pool currently gives you the block hash, you return the nonce of a share and the pool only has to check the final hash. I suppose what we need to do is change the entire system (everything) so that the pool can verify the generation address. Something like this.

{transaction data} -> {transaction hash}

{generation address}+{transaction hash}+{nonce} -> {final hash}

This way a pool member can send its own transaction hash once and the nonce of each share, but the pool still gets to verify the generation address. Is this the upshot of your proposition?


I expect at least as much.

I trade bitcoin options at https://bitoption.org/ ... Join me.
I play poker at https://betco.in/ ... Join me.
Support the bitcoin economy, what do you do?
Tips: 1NfXhiTFEdKQTdLy49s6DYAP1K7MeFWyao
yeponlyone
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June 16, 2011, 09:23:33 PM
 #5

have it new type writing, should newbie poetry called it.
imperi
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June 16, 2011, 09:26:50 PM
 #6

newbie poetry, what, so how much hash rate I need?
says my friend, SELL SELL SELL SELL SELL!!!!!!!!!
Collapsing, bitcoin, all will be lost.

What power also supply do I need?
ocharry
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June 16, 2011, 09:31:59 PM
 #7

This thread should not exist. If my English professor were to read this his mind would burst.
billyjoeallen
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June 16, 2011, 09:32:58 PM
 #8

There's cowboys yonder, driving the retail speculator herd wherever they want'em ta go.  If I had to guess (and it is a guess, mind you) I think price is shooting way up this weekend. Much higher difficulty level, and whoever's been putting a floor on $19 clearly has deep pockets. Time and the market, as always, will tell.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
AtomicTrader
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June 16, 2011, 09:35:01 PM
 #9

Downward pressure selling. Expect we such into weekend. Tongue
n0m4d
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June 16, 2011, 09:56:24 PM
 #10


too unstable, sell
now so stable i panic
OMFG


difficulty change
"other" gets spanked by the pools
now i am so hot

yeponlyone
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June 16, 2011, 10:25:00 PM
 #11

Digital currency!?
It's a digital currency!
Well so is my bank account!
Hahahahahahahahahahahahaha!

--YTKilledRawdog
http://www.youtube.com/watch?v=nCsDD0m0nLE&feature=related 0:52

AtomicTrader
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June 16, 2011, 11:51:38 PM
 #12

Sellers have broken down $18/BTC on MtGox...  right on schedule according to weekend drops.
meighty
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June 16, 2011, 11:54:05 PM
 #13

I'm horrible at writing poetry. If I was better I'd come up with a BitCoin haiku.

http://www.minerware.com - Cost effective Mhash/s per Dollar
Edward50
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June 16, 2011, 11:56:07 PM
 #14

There's cowboys yonder, driving the retail speculator herd wherever they want'em ta go.  If I had to guess (and it is a guess, mind you) I think price is shooting way up this weekend. Much higher difficulty level, and whoever's been putting a floor on $19 clearly has deep pockets. Time and the market, as always, will tell.

The guy who was putting the $19 dollar floor and keeping the price artificially high has run out of money! He probably realises that nobody else will buy over $20.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
TraderTimm
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June 16, 2011, 11:57:19 PM
 #15

Bitcoin Haiku: (5 -7 -5, remember)

fabulous bitcoin,

newbies scream sell, I think not.

balance increases.

-----

noob says bitcoin bad,

hasn't read whitepaper, fool

thread ignored, no doubt.

-----

some guy lost wallet,

media makes big stink, oh!

make it go away.



fortitudinem multis - catenum regit omnia
Stephen Gornick
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June 17, 2011, 12:12:05 AM
 #16

Sellers have broken down $18/BTC on MtGox...  right on schedule according to weekend drops.

There had been a pattern that was pretty reliable:
If on Wednesday night / Thursday morning the high water mark for the prior 7 days was below the high for the week before, then a weekend dip could be counted on where selling and then buying those coins back on Sunday afternoon would yield 10 to 15% gain.

The reason that was happening was likely due to the outflow spigot being wide open (bitcoins can be sold and funds withdrawn 24x7) yet at the same time there is no corresponding inflow in which funds can be added to the exchange.  

Funds added to Dwolla and by bank wires arrive only on business days, so there are no new funds arriving from those sources on the weekend.

With a lower price come Sunday, those in Asia and Europe are the first who are able to wire funds or make SEPA transfers, so once that happens on the following week, the market price would once again rise.  So to reaquire those bitcoins, the repurchase would need to occur by late Sunday.

Whether or not this pattern recurs is unknowable, but with a higher difficulty, miners trying to pay off mining equipment just had their "income" cut by a third from this latest adjustment.  As a result many will likely be hoarding less (if at all) and selling more of what their mining activities bring in.

At some point there will be a futures market with options where these ultra short-term (weekly) cycles will be leveled, but for now the weekend dip appears to make the "sell Wednesday night/Thursday morning and buy back on Sunday" trade continue to be profitable.

Though don't forget -- if there is a big buyer, that amounts sold by miners affects the market price very little.  See the chart from Easter weekend to help understand that situation more clearly.

RomertL
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June 17, 2011, 01:05:45 AM
 #17

This thread should not exist. If my English professor were to read this his mind would burst.

Dude, not all here are native in English... (not me either)

Looking for an easy way to charge bitcoins at: houseofreplicas.net, high quality replica watches. Using WP with the E-shop plug-in at the moment for charging credit-cards.
---------------------------------------------------------------------------
bitcoin address: 1e8SHzCbxTJNo8LkNomeRppTSKX7rDwuB
proudhon
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June 17, 2011, 01:35:32 AM
 #18

Bitcoin Haiku: (5 -7 -5, remember)

fabulous bitcoin,

newbies scream sell, I think not.

balance increases.

-----

noob says bitcoin bad,

hasn't read whitepaper, fool

thread ignored, no doubt.

-----

some guy lost wallet,

media makes big stink, oh!

make it go away.




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