$10 straight clean arbitrage to be had going from Stamp to BTC-E....

[Stevenrm87]

Maybe you should take a walk.  Sitting all day staring at charts isn't good for you.  There's plenty of money to be made here without stressing out about it.

You asked who I was to proclaim that the market wants to trend down. Hopefully my explanation was sufficient enough that even a complete fool could look at the charts and development of the Ask/Bid wall for themselves and comprehend that what I am stating about the market being obstructed is in fact undeniably correct.

The market wants Bitcoin to trend down. This is what would happen if there wasn't a defensive dam preventing it from doing so. Because it is what should happen, I am betting heavily on it playing out. This however is no guarantee that it will happen, as it is not hard to grasp, that if man is capable of putting flood barriers in place to protect his land until the flood waters drain away or the tide goes back out, he is certainly capable of erecting a different type flood barrier to protect the market value of a financial asset, providing of course that this intentions.

Youre screwed, by the time you realize it you will cover short and go long and THATS when it will go down. When  everyone least expects it. BTW how many people do you know got richer going short vs long on BTC? I saw the same type of people getting wiped out in 2011 when the fed was "going to stop QE2" ha now look at it.

[MatTheCat]

Youre screwed, by the time you realize it you will cover short and go long and THATS when it will go down. When  everyone least expects it. BTW how many people do you know got richer going short vs long on BTC? I saw the same type of people getting wiped out in 2011 when the fed was "going to stop QE2" ha now look at it.

I am far from screwed my friend.

I could already position my short cover to a break even level and still have 1500 BTC of Ask orders in front of me.

[fonzie]

His analysis about the behaviour of the bots are spot on. I´m not sure if a huge drop is about to come in in the next hours/days,
but right now  it´s bots who are keeping the price up on Stamp/Gox for whatever reason it is.

[keithers]

I was looking at using the current price difference to send some money from coinbase to buy a little more LTC.  In the past we have consistently seen bitstamp (and therefore coinbase), be slightly higher than btc-e, so by sending btc in the past you were already losing some money off the top (in addition to the fees from coinbase and the trading fees of btc-e).

[notme]

His analysis about the behaviour of the bots are spot on. I´m not sure if a huge drop is about to come in in the next hours/days,
but right now  it´s bots who are keeping the price up on Stamp/Gox for whatever reason it is.

I agree his observations are valid in that the "last" price is being pegged to the ask side.  What I disagree with is his jump to the conclusion that the market wants to go down.  If the market, which is made up of the capital at risk in the market, wanted to go down it would be down. Since it is not down, we can assume that there is sufficient capital to absorb any sells at this point in time.  He is also right that pressure is building.  But I am far less certain than he of the direction we will break out.  All I know is that when we do start moving, we will move decisively.

[MatTheCat]

His analysis about the behaviour of the bots are spot on. I´m not sure if a huge drop is about to come in in the next hours/days,
but right now  it´s bots who are keeping the price up on Stamp/Gox for whatever reason it is.

Perhaps some big boys need to cash out. Perhaps they are Chinese. Perhaps the FBI are wanting as healthy a bidding war for the DPR coins as possible. Perhaps someone is really wanting to fk market over and is intentionally allowing huge sell-off pressure to build up.



Who knows, but what I do know is that it is the most dodgy and fabricated that these charts have ever behaved since I started paying attention over the past couple of months.

[mestar]

The market wants Bitcoin to trend down. This is what would happen if there wasn't a defensive dam preventing it from doing so.

The market wants to go down, only if there was no other market that is preventing it from going down.  Silly market.

[MatTheCat]

The market wants to go down, only if there was no other market that is preventing it from going down.  Silly market.

Yes. The market where BTC really changes actually hands in large volumes is being obstructed by the market where BTC gets passed from a whales left pocket to his right pocket in mostly micro-sized volumes.

Silly market.

[notme]

The market wants to go down, only if there was no other market that is preventing it from going down.  Silly market.

Yes. The market where BTC really changes actually hands in large volumes is being obstructed by the market where BTC gets passed from a whales left pocket to his right pocket in mostly micro-sized volumes.

Silly market.

Any imaginary cord shouldn't be too hard to break.

[Ibian]

Nothing big will happen before jan 31. Just relax and watch the show unfold till then.

[MatTheCat]

Any imaginary cord shouldn't be too hard to break.

Eh?

Do you trade at all? If you did, and did so within short time frames, you would know that it can be a right fucker trying to get either in or out of market at Ask/Sell walls depending on which direction bots are manipulating. If you get in easy at the Bid wall, then you will generally have difficulty getting out at Ask wall with any meaningful volume. So often have I thought myselkf to be a real clever dick by judging little $30 swings perfectly, only to find that I am forced to cut my 'profits margins' considerably in order to exit the market, and this is with as little as 10-20 BTC.

If there is enough clout behind these chords, then they can be damn hard to break.

[DPoS]

Did everyone miss this part where Coinwhalebase boasts on their whaleness>?

http://www.wired.com/business/2014/01/overstock-bitcoin-live/

Still, Coinbase — which recently received $25 million from big-name Silicon Valley venture capital firm Andreessen Horowitz — is confident it can minimize the risk by using software to carefully monitor price fluctuations. Coinbase runs a system that manages bitcoin transactions not only for businesses like Overstock but for about 750,000 individuals. Much as a bank like Goldman Sachs runs software to track price fluctuations as it juggles billions of dollars, Coinbase uses its hedging software to track all of the bitcoins it manages, deciding when to buy and sell bitcoins and adjust its exchange rate in an effort to minimize risk.

Goldman, where Coinbase’s Ehrsam previously worked, uses its software in an effort to make highly profitable trades, and Coinbase merely uses its system to protect its own position. But the inner-workings of the software are similar. “It’s algorithmic trading,” says Coinbase CEO Brian Armstrong. “It hedges that exchange rate risk in the background, every day.”


..nothing like frontrunning your clients and customers to make sure you pinch every trade..  he is from Goldman afterall!
and yes they trade on Stamp and they used to trade on Gox when they started..  not sure if they still do

Watch coinbase's price during takedowns of the price on either stamp or btc-e...  you will see the spread go as wide as $30 and in fact i have seen it widen before the takedowns on stamp happen which means that was the times they were the ones doing the takedown... and yes I have frontrunned that a few times

[johnny211]

Do you trade at all? If you did, and did so within short time frames, you would know that it can be a right fucker trying to get either in or out of market at Ask/Sell walls depending on which direction bots are manipulating. If you get in easy at the Bid wall, then you will generally have difficulty getting out at Ask wall with any meaningful volume. So often have I thought myselkf to be a real clever dick by judging little $30 swings perfectly, only to find that I am forced to cut my 'profits margins' considerably in order to exit the market, and this is with as little as 10-20 BTC.

Sorry, but isn't this simply the market being "efficient"? It is making it harder for you to exploit the inefficiency you were looking to exploit.

[MatTheCat]

Sorry, but isn't this simply the market being "efficient"? It is making it harder for you to exploit the inefficiency you were looking to exploit.

eh! WTF?

You obviously aint been listening!

[BitchicksHusband]

First, everyone whines that bitcoin is volatile.  And now that it's stable, everyone whines that they can no longer make money off the volatility.

[DPoS]

First, everyone whines that bitcoin is volatile.  And now that it's stable, everyone whines that they can no longer make money off the volatility.

because mining is dying and just about dead too...  we all would of been happy for stable $1200 price since Nov!

but with both mining and trading about dead we probably have to work now to make more money   

[MatTheCat]

First, everyone whines that bitcoin is volatile.  And now that it's stable, everyone whines that they can no longer make money off the volatility.

But its not stable.

Its fake manipulated stable and when enough Bid orders build up, Fkn Whack! Some whale drops a shit ton of coin right on the Bid wall triggering about 800 suckers' bids within 20 seconds, then the price dips and bounces back on low volume, and is artificially upheld to allow for conditions to build up for next mammoth cash out.

We are in a cash-out phase just now and I wouldn't be surprised to see yet more surprising 'strength' at this slightly lower but almost equally narrow trading range as yesterday, only for a Bid wall to be triggered by some bot dumping 800+ coins on the market in a big dirty manipulating rat oner.

I constantly have my eyes on the Ask depth standing in front of my Stop Loss buy order, and it is piling up incessantly as the Ask's accumulate around the spot, yet Bitcoin remains 'stable'.

Bullshit....totall fkn sham the whole lot of it.

[DPoS]

Bullshit....totall fkn sham the whole lot of it.

hah the great rotation.. it'll probably stay in this range until wall street can scam IRA money into this

[MatTheCat]

Question is, what happens to the market after the whales have cashed out enough and the bots stop holding the market up?

[DPoS]

Question is, what happens to the market after the whales have cashed out enough and the bots stop holding the market up?

miner apocalypse