The Bitcoin Speculators Club Is Here ...

[Pente]

99% HODLer, 1% Speculator.

I feel that we are still in a slow decline that should turn around within a couple months.

[1713893182]

1713893182

[1713893182]

1713893182

[Armis]

Important message to all day traders using Cryptsy exchange, they have announced the following:

"Minimum order quantities have been removed. Only requirement now is that the order total > 0.00000010.  Min fee for any order is 0.00000001"


This obviously will impact day traders, more than non-day traders, essentially it's a cancellation fee, each time you cancel you lose that amount.


So on one hand you are motivated with the Cryptsy points to do more trades, but then demotivated with a cancellation fee.  


I think the action was short sighted in to ways:
1) although the fee is tiny subconsciously it will negatively affect how people trade when they occasionally see that negative number at times, or worse end up with a negative coin balance.
2) the financial and goodwill costs will be higher than the revenue driven in by it, most specifically in the lower number of trades offered, but also in the cost of workers needing to explain negative balances.   

[Armis]

reminder statement from:

OpenEX
The Exchange is Closing on 3 / 27 / 2014 and will not reopened until the LUAPOD platform is complete.
trading is disabled. please cancel all orders immediately.

[chessnut]

I maintain no bias tonight.

Huobi failed to break 3400 last night amid unclear PBOC statement. This is a sign of strength to me, although there is no sign of trend reversal yet.

The only thing to do in these conditions is to set low buys and hope for a flash crash, but until a break upwards of 600 or downwards of 630 or 3400 at least, I think we should only expect quiet consolidation.

[Armis]

  AUR   crash may be opportunity