dserrano5 (OP)
Legendary
 Offline
Activity: 1974
Merit: 1029
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October 15, 2013, 07:46:58 AM |
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Could we please limit the number of nested quotes? e.g. The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. I found the information I was looking for. The Local Bitcoin weighted average price is not random at all even though it has a large variation. And you cannot buy bitcoins for anything cheaper than 96 euros anywhere in the world and that is only 3 % below the Bitstamp price. If you were correct in that the mtgox and Bitstamp price were unrealistically high, the Local Bitcoin price would be significantly lower: http://bitcoinity.org/markets/localbitcoins/EUR7d low: 73 7d hi: 125 USD: 7d low: 88 7d hi: 224 lolk. Why would you expect an OTC site to be anything more than a mirror of the main exchanges? The volume is awful. People dont panic buy or sell there. And if you want to get nitpicky, the prices there have barely increased despite the rally of the past hours. Do you understand the concept of variance or averages? In my opinion, the concept of equilibrium and arbitrage disproves your theory about price manipulation. And the volume that it shows is only for euro denominated trades and does not include USD denominated trades etc. |
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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hulk
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October 15, 2013, 02:06:22 PM |
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Whats the problem with lots and lots of quoted?
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greyhawk
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October 15, 2013, 02:08:33 PM |
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Could we please limit the number of nested quotes? e.g. The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. I found the information I was looking for. The Local Bitcoin weighted average price is not random at all even though it has a large variation. And you cannot buy bitcoins for anything cheaper than 96 euros anywhere in the world and that is only 3 % below the Bitstamp price. If you were correct in that the mtgox and Bitstamp price were unrealistically high, the Local Bitcoin price would be significantly lower: http://bitcoinity.org/markets/localbitcoins/EUR7d low: 73 7d hi: 125 USD: 7d low: 88 7d hi: 224 lolk. Why would you expect an OTC site to be anything more than a mirror of the main exchanges? The volume is awful. People dont panic buy or sell there. And if you want to get nitpicky, the prices there have barely increased despite the rally of the past hours. Do you understand the concept of variance or averages? In my opinion, the concept of equilibrium and arbitrage disproves your theory about price manipulation. And the volume that it shows is only for euro denominated trades and does not include USD denominated trades etc. I concur |
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b!z
Legendary
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Activity: 1582
Merit: 1010
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October 15, 2013, 02:09:21 PM |
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Whats the problem with lots and lots of quoted?
it can get confusing. |
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dserrano5 (OP)
Legendary
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Activity: 1974
Merit: 1029
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October 15, 2013, 02:18:55 PM |
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Whats the problem with lots and lots of quoted?
It's tiresome to scroll pages of pages of already read text, only to find that only a single sentence is added, just like the "I concur" above  . Plus it makes pages unnecessarily long. |
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