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Author Topic: Great Bidwall  (Read 2188 times)
S3052
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October 18, 2011, 05:24:32 PM
 #21

I agree with you.

At the same time, traders will remain in the game. the more volatile prices are, the more it is interesting for them

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October 18, 2011, 05:53:07 PM
 #22

Speculators do not care much about the value of Bitcoin, they care about the profit. Speculators who bought Bitcoins, when it was much higher, now feel frustrated, they cannot do anything about the decreasing price. And they shouldn't.
Sadly, but many people here in Bitcoin forums (I advocate to active ones, who are watching price everyday) do not bring value to Bitcoin economy, well because of lack of understanding about it, looking to mainly on technical analysis, trends, trying to become rich-quick (of course minority of them managed that, on the expense of others).
More to the point, following some bid-walls or panicking while others panic, or buying than others stopped to panic is not very rational behavior. Bitcoin is about the fundamentals, not about speculations. And if someone wants to sell Bitcoins, he is just doing that straight away by asking current price, or if someone wants to buy Bitcoins, he just buys by bidding the current price. On the other hand bidding-wall or anything similar, could work out only because some irrational speculators believes in it and behaves according to that. Speculators who believe in traditional investments strategies and/or behavioral finance, are not in the right place (Bitcoin), they should go to financial markets, stock exchanges or FOREX. Because of greediness they just harm Bitcoin network.
But in a long period, like S3052 likes to say, I believe price and value of Bitcoin will be judged mostly by fundamentals.
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October 18, 2011, 07:01:27 PM
 #23

maybe it is someone who sold at >20 buying back in

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October 18, 2011, 09:50:07 PM
 #24

A long time ago MtGox realized that they only need ~20% of their USD available on any day as that's the maximum amount ever withdrawn in a 24 hour period.

When above the 20% balance across all bank accounts they put up a massive buy order to raise the price.

Higher prices makes more profit. It's not even illegal Smiley
RyNinDaCleM
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October 18, 2011, 10:27:44 PM
 #25


Higher prices makes more profit. It's not even illegal Smiley

Not necessarily!

If I bought 100BTC @$1.00, or 1BTC @$100 they still only get $.65. However, the 100BTC would net a fee of .65BTC, whereas the 1BTC would only net .0065BTC. It nets the same profit in $$ either way!
They make their percentage fee of every dollar spent regardless of BTC's "value"!

So, the proper way of putting it would be; The higher cash volume traded makes more profit!

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October 19, 2011, 12:52:23 AM
 #26

Bid 'wall' is gone.  I'm not surprised in the least.

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