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Poll
Question: Are you waiting for a 10% drop in price to buy more coins
i'll buy at current price - 28 (66.7%)
yes - 14 (33.3%)
Total Voters: 42

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Author Topic: how else is waiting for a sizeable drop to buy more coins again?  (Read 2218 times)
JohnOliver
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December 18, 2011, 11:48:56 PM
 #21

there are currently 3 times more bids than asks in the orderbook; in these conditions a drop is very unlikely.

Not that unlikely.  There was a giant sell-off not too long ago and the order book looked similar.  In fact, several times over the past 6 months there have been large sell-offs when the money in bids was significantly greater than the asks.

if i do a sell order of say 20,000coins at $1 each... (i wish i had 20,000 coins  Tongue)

wont i sell to all the bids all at once, so they don't have time to take off their bid?

That really depends on the exchange. In mtgox at least transactions are processed sequentially, so bots have enough time to shift phantom bid walls. If you don't believe me just try it yourself. If you sell a large order of coins at market price you won't see the USD balance in your account reach the final value instantaneously. You'll see it jumping up in increments. This all happens in less than 2 seconds, but that's plenty of time for a bot to react.

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adamstgBit
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December 18, 2011, 11:56:51 PM
 #22

there are currently 3 times more bids than asks in the orderbook; in these conditions a drop is very unlikely.

Not that unlikely.  There was a giant sell-off not too long ago and the order book looked similar.  In fact, several times over the past 6 months there have been large sell-offs when the money in bids was significantly greater than the asks.

if i do a sell order of say 20,000coins at $1 each... (i wish i had 20,000 coins  Tongue)

wont i sell to all the bids all at once, so they don't have time to take off their bid?

That really depends on the exchange. In mtgox at least transactions are processed sequentially, so bots have enough time to shift phantom bid walls. If you don't believe me just try it yourself. If you sell a large order of coins at market price you won't see the USD balance in your account reach the final value instantaneously. You'll see it jumping up in increments. This all happens in less than 2 seconds, but that's plenty of time for a bot to react.



well that's gay, because of this the bid / ask walls mean almost nothing.

dose TH work like this too?
dose wall street work like this too?

proudhon
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December 19, 2011, 12:03:16 AM
 #23

I'm not sure about that.  I think on MtGox the order is processed instantly.  It's just the reporting that's delayed.
JohnOliver
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December 19, 2011, 12:21:25 AM
 #24

I'm not sure about that.  I think on MtGox the order is processed instantly.  It's just the reporting that's delayed.
Just give it a try. Place a large order and then immediately click cancel. If you're right then it should be all or nothing.
proudhon
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December 19, 2011, 12:24:02 AM
 #25

I'm not sure about that.  I think on MtGox the order is processed instantly.  It's just the reporting that's delayed.
Just give it a try. Place a large order and then immediately click cancel. If you're right then it should be all or nothing.

Or we could just ask the MtGox guys.
RyNinDaCleM
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December 19, 2011, 12:40:11 AM
 #26

I know I've seen large movements, all happen at once, with no ghostlines. Just the disappearance of $0.20-0.50 on the charts.
It is, however, sequentially executed. But, think about how fast a CPU cycle is.  Wink

Cluster2k
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December 19, 2011, 04:46:30 AM
 #27

why would i buy bitcoin and then buy gold with those bitcoin??

1) to support something i believe in
2) to get something i think could be fun to look at, the gold...
3) to save money by buying my bitcoin on the cheep!

Why add another layer of fees and charges into the mix?  Why not go cash->gold instead of cash->btc->gold?  There are fees at every stage and you're adding more.

Just grab the cash and go to your local gold bullion dealer.  Support a local business.  You can speculate on bitcoin's price without buying gold.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
adamstgBit
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December 19, 2011, 06:16:39 AM
 #28

why would i buy bitcoin and then buy gold with those bitcoin??

1) to support something i believe in
2) to get something i think could be fun to look at, the gold...
3) to save money by buying my bitcoin on the cheep!

Why add another layer of fees and charges into the mix?  Why not go cash->gold instead of cash->btc->gold?  There are fees at every stage and you're adding more.

Just grab the cash and go to your local gold bullion dealer.  Support a local business.  You can speculate on bitcoin's price without buying gold.

 Roll Eyes

it could be that i bought my coins at 2.5  Cheesy
but i didn't buy enough for a 1oz of gold   Undecided

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