Bitcoin Forum
December 09, 2016, 09:36:28 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: So, are we shuffling forward?  (Read 1033 times)
Bitman_Began
Jr. Member
*
Offline Offline

Activity: 41



View Profile
November 29, 2011, 12:27:00 AM
 #1

Is it me, or is BTC very slowly, but inexorably, shifting forward in a bit-by-bit manner? I mean, it seems to be doing it in baby-steps, but it's increasing steadily, isn't it? So where is it going to stop? Is this being caused by the latest BTC conference and various advocates, who are presently proselytising?...What do you think it will get to, ultimately, this time? And where do the bucks stop? $3?.. $3.5?... $4?? $5!!
1481319388
Hero Member
*
Offline Offline

Posts: 1481319388

View Profile Personal Message (Offline)

Ignore
1481319388
Reply with quote  #2

1481319388
Report to moderator
1481319388
Hero Member
*
Offline Offline

Posts: 1481319388

View Profile Personal Message (Offline)

Ignore
1481319388
Reply with quote  #2

1481319388
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481319388
Hero Member
*
Offline Offline

Posts: 1481319388

View Profile Personal Message (Offline)

Ignore
1481319388
Reply with quote  #2

1481319388
Report to moderator
teflone
Hero Member
*****
Offline Offline

Activity: 770


You're fat, because you dont have any pics on FB


View Profile
November 29, 2011, 03:07:04 AM
 #2

4.25

For Canadians by Canadians: Canada's Bitcoin Community - https://www.coinforum.ca/
OneOnABun
Newbie
*
Offline Offline

Activity: 28


View Profile
November 29, 2011, 04:01:44 AM
 #3

I hope so!
Bitman_Began
Jr. Member
*
Offline Offline

Activity: 41



View Profile
November 29, 2011, 09:43:24 AM
 #4

4.25
5.25!!  Grin
Bitman_Began
Jr. Member
*
Offline Offline

Activity: 41



View Profile
November 29, 2011, 10:35:50 AM
 #5

Well it's making a bit of progress today, still a long way to go!... it's been to 2.98 and back down to about 2.9, and is now on its way back upwards again....  Grin
BTCurious
Hero Member
*****
Offline Offline

Activity: 714


^SEM img of Si wafer edge, scanned 2012-3-12.


View Profile
November 29, 2011, 10:44:10 AM
 #6

If it actually reaches 4, it will probably reach higher than that as well. Even breaching 3 would boost confidence greatly.

FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
November 30, 2011, 11:24:20 AM
 #7

It'll hit 3 sometime in 2012.

Here it comes.                                                                                                                          3 digits of course.                                      Haha, no.                   But maybe.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Bitman_Began
Jr. Member
*
Offline Offline

Activity: 41



View Profile
November 30, 2011, 02:17:34 PM
 #8

It'll hit 3 sometime in 2012.

Here it comes.                                                                                                                          3 digits of course.                                      Haha, no.                   But maybe.
It'll hit 6 some time in 2012!!
Bitman_Began
Jr. Member
*
Offline Offline

Activity: 41



View Profile
November 30, 2011, 10:32:33 PM
 #9

Already bin' to 3.09, now where to next!... someone just said it'll reach 3 come next year arf-arf.... it's not even Xmas yit ower 'ere...eee, weerz it off to yet then??
Chin-A
Newbie
*
Offline Offline

Activity: 10



View Profile
December 01, 2011, 09:47:37 AM
 #10

Waiting for it to hit $3.5 and I'll start trading again!

Had a whole lot of BTC stuck in my account since i bought some @ $3.2x early november.
Wasn't able to do anything ><
Qoheleth
Legendary
*
Offline Offline

Activity: 882


Spurn wild goose chases. Seek that which endures.


View Profile WWW
December 01, 2011, 04:19:19 PM
 #11



Seriously, though... I have trouble trusting the recent price rally given how we got where we are. The push from 2.50 to 3+ that we saw over the past few days was made possible almost entirely by a couple of huge bidwalls - one at 2.65 a couple days ago, and now one at 2.90. So, as long as that bidwall is up, there's no way to be sure that the price isn't just being propped up where it is.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the culture of naive fools and conmen, the former convinced that BTC is a magic box that will turn them into millionaires, and the latter arriving by the busload to devour them.
Bitman_Began
Jr. Member
*
Offline Offline

Activity: 41



View Profile
December 02, 2011, 01:28:45 AM
 #12

Waiting for it to hit $3.5 and I'll start trading again!

Had a whole lot of BTC stuck in my account since i bought some @ $3.2x early november.
Wasn't able to do anything ><
Well it'll soon be time then!  Grin
Bitman_Began
Jr. Member
*
Offline Offline

Activity: 41



View Profile
December 02, 2011, 01:30:30 AM
 #13

Sorry, did you just mention something called a BIDWALL!!

Please explain...
 Cheesy
Qoheleth
Legendary
*
Offline Offline

Activity: 882


Spurn wild goose chases. Seek that which endures.


View Profile WWW
December 02, 2011, 01:36:28 AM
 #14

Sorry, did you just mention something called a BIDWALL!!

Please explain...
Cheesy

Sure!


This is a chart (as of about a day ago) of people's asking prices for Bitcoins. The "asks" are the prices for which people are willing to sell their Bitcoins, and the "bids" are the prices people are willing to pay for Bitcoins. Now, look at the "bid" part of the graph. See that huge step up at about $2.90? Most of that is coming from a single buyer, who has claimed he is willing to buy a massive number of bitcoins (about 40k if I'm reading it right) at that price. Up until about a day ago, such a bid existed at $2.65, keeping the price of Bitcoins from falling below that. With that floor in place, the price worked its way up to $3 over the course of a few days, at which point the enormous bid at $2.65 vanished and was replaced by one at $2.90. To me, this looks like someone with a lot of money deliberately trying to ratchet up the price of Bitcoins for reasons unknown... which means that as soon as he decides it's no longer worth his time, all of that support at $2.90 will vanish, and who knows what'll happen to the price then.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the culture of naive fools and conmen, the former convinced that BTC is a magic box that will turn them into millionaires, and the latter arriving by the busload to devour them.
Coinfish
Newbie
*
Offline Offline

Activity: 24


View Profile
December 02, 2011, 03:35:18 AM
 #15

I really hope we've found the "floor" @ $2.50-3.00. The freefall was probably keeping a lot of people from jumping on board.
julz
Legendary
*
Offline Offline

Activity: 1092



View Profile
December 02, 2011, 03:44:24 AM
 #16

To me, this looks like someone with a lot of money deliberately trying to ratchet up the price of Bitcoins for reasons unknown... which means that as soon as he decides it's no longer worth his time, all of that support at $2.90 will vanish, and who knows what'll happen to the price then.

Yeah one such 'unknown reason' could be that a genuine buyer and long-term bitcoin bull is putting it there to give the opportunity for any big sellers to sell into it.
The placer of that wall may well be putting in many smaller bids in front of it all the time to pick up coins.

By having a wall just below where they are buying, they give themselves feedback that their buying is not driving the price to excessive levels, because presumably big coin-holders would have dumped into it already if that were the case.

Without the wall - their average buy price may in fact have been higher due to coin sellers merely trickling them out because the sellers don't want to risk crashing the price.
You could argue that the buyer should test the price, or try to get a lower price, by 'vanishing' the wall altogether every now and then - but it's possible that a sudden drop is not in their interests either, as they'd rather their own buying activity set up some momentum for some subsequent gains and they'd rather not contribute to bitcoin instability or another stretch of decline.

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
Chin-A
Newbie
*
Offline Offline

Activity: 10



View Profile
December 02, 2011, 07:03:26 AM
 #17

Sorry, did you just mention something called a BIDWALL!!

Please explain...
Cheesy

Sure!

http://i.imgur.com/cOfFM.png
This is a chart (as of about a day ago) of people's asking prices for Bitcoins. The "asks" are the prices for which people are willing to sell their Bitcoins, and the "bids" are the prices people are willing to pay for Bitcoins. Now, look at the "bid" part of the graph. See that huge step up at about $2.90? Most of that is coming from a single buyer, who has claimed he is willing to buy a massive number of bitcoins (about 40k if I'm reading it right) at that price. Up until about a day ago, such a bid existed at $2.65, keeping the price of Bitcoins from falling below that. With that floor in place, the price worked its way up to $3 over the course of a few days, at which point the enormous bid at $2.65 vanished and was replaced by one at $2.90. To me, this looks like someone with a lot of money deliberately trying to ratchet up the price of Bitcoins for reasons unknown... which means that as soon as he decides it's no longer worth his time, all of that support at $2.90 will vanish, and who knows what'll happen to the price then.

I think you're on the money
BadBear
v2.0
Administrator
Legendary
*
Offline Offline

Activity: 1652



View Profile WWW
December 02, 2011, 07:44:37 AM
 #18

Someone else brought up a good explanation for the bidwall activity.  Someone puts up a big bidwall ~50k.  Others put their bids around it like they usually do, the person with the big bid wall waits for those to build up, then removes his big wall and sells into what is left. 

1Kz25jm6pjNTaz8bFezEYUeBYfEtpjuKRG | PGP: B5797C4F

Tired of annoying signature ads? Ad block for signatures
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!