Bitcoin Forum
October 23, 2017, 08:31:19 PM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Poll
Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

Pages: « 1 ... 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 [594] 595 596 597 598 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 ... 1558 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1997266 times)
Peter R
Legendary
*
Offline Offline

Activity: 1050



View Profile
September 11, 2014, 05:40:55 AM
 #11861

it's really quite fascinating price action, or inaction, one might say.

to my mind, they're blocking walls.  someone needs to keep the price down.  but yeah, they seem to have an endless supply of coins.  the good news is that the buyers are getting bolder and buying up everything right up to the edge of the large ask walls.  the spread, instead of increasing, is decreasing as buyers get more comfortable knowing that the ask walls aren't going to suddenly market sell and wipe out the bid side.  buyers are slowly eating them away and it's just a matter of time.

I got that same feeling quite strongly for the first time today.  Someone wants to keep the price down.  I think they're coiling the spring waiting for the right moment Wink

Do you ever have a thought that makes you shiver?  I did today.  I was at the gym sitting on a bench and thinking, "I bet I'm the only person here who has a sizeable position in bitcoins," when I noticed that a significant number of people were staring at their phones.  It hit me how I'm sort of the same as everyone else--I just happened to stumble upon bitcoin a bit earlier.  If all these people knew what I knew, a few of them would probably be checking bitcoinity right now.

So I was imagining that bitcoin was making headlines again, but this time there's even more awareness.  Most importantly, there's a way that anybody can instantly buy bitcoins with a credit card from their phone.  And I could just see it: there's going to be a rally, and it's going to last for weeks, at first it will be only a few people, but at the gym or at the pub these people will set their friends up with Circle accounts and instantly buy bitcoins as the price continues to rally.  By the end everybody is going to be staring at their phones and cheering on the price of bitcoin.  Gamblers will keep increasing their exposure as the price climbs, and the rally will last longer and go higher than everyone imagines.

And then we'll all be staring at our phones when it crashes.

Anyways, what gave me the shivers was this feeling of inevitability to the whole thing, and how connected our phones make us, and how that interconnectedness allows things to change very quickly.  What happens when 21 million people press the "buy now" button on their phones at the same time?

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
1508790679
Hero Member
*
Offline Offline

Posts: 1508790679

View Profile Personal Message (Offline)

Ignore
1508790679
Reply with quote  #2

1508790679
Report to moderator
1508790679
Hero Member
*
Offline Offline

Posts: 1508790679

View Profile Personal Message (Offline)

Ignore
1508790679
Reply with quote  #2

1508790679
Report to moderator
1508790679
Hero Member
*
Offline Offline

Posts: 1508790679

View Profile Personal Message (Offline)

Ignore
1508790679
Reply with quote  #2

1508790679
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 2408



View Profile
September 11, 2014, 06:09:08 AM
 #11862

they are automated bots/algorithms ... with well-crafted strategies, constraints, heuristics modelling, etc in place to maximise sell pressure at a minimum "cost" (i.e. loss of coins).

... it doesn't appear the bid side has got the technical/coinage firepower in place as yet.

This is how all/most of the commodity/stock markets are managed these days ... until they fail catastrophically, all hell breaks loose and the tax payers get lined up to bail out the banks who operate the algos, or if it is not too big maybe some hapless "rogue trader" fall guy gets trooped out.

molecular
Donator
Legendary
*
Offline Offline

Activity: 2380



View Profile
September 11, 2014, 06:37:29 AM
 #11863

take it down...

I'm getting really sick of these dudes.

it's really quite fascinating price action, or inaction, one might say.

to my mind, they're blocking walls.  someone needs to keep the price down.  but yeah, they seem to have an endless supply of coins.  the good news is that the buyers are getting bolder and buying up everything right up to the edge of the large ask walls.  the spread, instead of increasing, is decreasing as buyers get more comfortable knowing that the ask walls aren't going to suddenly market sell and wipe out the bid side.  buyers are slowly eating them away and it's just a matter of time.

I've done some experiments in a small altcoin market that has some bots and also some humans.

In cases where I want to buy (and after checking market conditions are right, i.e: there's some willingness to sell), I would market-sell down first (hoping for some fear), then put a huge scary sell wall or multiple ones. They need to be larger than the available buying funds of the individual players, otherwise the danger is high they will be bought up (remember: I just slammed the market below its comfort zone). Players will then place sell orders below my great walls. I wait (maybe they'll even push the price lower, in a little outbidding-each-other war... some bots are like that). Then I buy up the stuff accumulating below my walls repeatedly until this game is exhausted. If it works out well, I have bought many coins and the buying pressure has increased because those other players have sold. Of course then I remove my walls and go the other way.

Just saying: I might not necessarily be "holding the price down", could just be an accumulation strategy.

It would also fit your statement: "market is getting bolder and buying up right to the walls": It might not be other people, it could be the owners of the walls themselves.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
klee
Legendary
*
Offline Offline

Activity: 1470



View Profile
September 11, 2014, 07:01:24 AM
 #11864

Or it could just be borrowed BTC from speculators (the walls) - no?

ErisDiscordia
Legendary
*
Offline Offline

Activity: 997


Imposition of ORder = Escalation of Chaos


View Profile
September 11, 2014, 07:08:41 AM
 #11865

The job of an economist is to cloak theft in the mantle of science to reduce the cost of keeping the masses compliant.

wonderfully and eloquently put. I'm going to use this. As someone who studied (and ran away screaming from) the dismal "science" I can appreciate the truth in what you've said.

It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
rockyrotcoin
Member
**
Offline Offline

Activity: 75


View Profile
September 11, 2014, 07:19:32 AM
 #11866

Yeah, im going to use bitcoin for my wedding ring ----- NOOOT! Because there is no truth about this. Gold will always be gold. Bitcoin will be successful but Gold has been tested thru time. It will stay and be valued as much as btc.
gamblethis
Member
**
Offline Offline

Activity: 78


View Profile
September 11, 2014, 07:20:05 AM
 #11867

I love Gold as much as I love Bitcoin

\\\\\\\\\\\\\\\\\\\\◥◣◢◤////////////////////
The Only Bitcoin Gambling Site Where You Can Get Actual Profit!
The Only Bitcoin Gambling Site Where You Can Get Actual Profit!
The Only Bitcoin Gambling Site Where You Can Get Actual Profit!

////////////////////◢◤◥◣\\\\\\\\\\\\\\\\\\\\
Erdogan
Hero Member
*****
Offline Offline

Activity: 812


View Profile
September 11, 2014, 08:04:45 AM
 #11868

Yeah, im going to use bitcoin for my wedding ring ----- NOOOT! Because there is no truth about this. Gold will always be gold. Bitcoin will be successful but Gold has been tested thru time. It will stay and be valued as much as btc.

A bitcoin wedding ring is no problem, engrave a private key on the inside. Don't load it up with too much coin or you risk your finger. See http://www.businessweek.com/articles/2013-04-10/meet-the-bitcoin-millionaires

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 11, 2014, 01:33:58 PM
 #11869

Gold collapsing. Bitcoin stable.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 11, 2014, 02:30:11 PM
 #11870

ppl would rather look at things that go up, so here goes.  note how we're about to break resistance on the way up:



cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 11, 2014, 02:32:59 PM
 #11871

silver criticality incoming.

first critical breach is $19 for psychological reasons.  then 18.70, finally 18.17.

first breach accomplished

second breach accomplished
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 11, 2014, 02:35:43 PM
 #11872

silver criticality incoming.

first critical breach is $19 for psychological reasons.  then 18.70, finally 18.17.

first breach accomplished

second breach accomplished

here's the visual:

adamstgBit
Legendary
*
Offline Offline

Activity: 1904


Trusted Bitcoiner


View Profile WWW
September 11, 2014, 02:38:05 PM
 #11873

is 18.17 your target for the lowest silver will ever go?

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 11, 2014, 02:39:08 PM
 #11874

Erdogan,

if the stock mkt rolls here you're gonna see real deflation in action.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 11, 2014, 02:39:38 PM
 #11875

is 18.17 your target for the lowest silver will ever go?

you've been around here long enough to know the answer to that.
wachtwoord
Legendary
*
Offline Offline

Activity: 1624


View Profile
September 11, 2014, 02:41:59 PM
 #11876

is 18.17 your target for the lowest silver will ever go?

Haha, he means quite the opposite Wink

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
September 11, 2014, 02:42:32 PM
 #11877

i'd bet there's a high probability we'll look back at this and say the market knew that Apple was bullshitting:

Amph
Legendary
*
Offline Offline

Activity: 1666



View Profile
September 11, 2014, 02:44:07 PM
 #11878

so this is the real bitcoin price for 2014, the 1200 was the peak of the pump
zeetubes
Sr. Member
****
Offline Offline

Activity: 371


View Profile
September 11, 2014, 02:44:21 PM
 #11879

is 18.17 your target for the lowest silver will ever go?

you've been around here long enough to know the answer to that.

It must be getting pretty close to the production cost. Not that it can't go lower than the production cost. With paper you can do just about anything, and it grows on trees.
molecular
Donator
Legendary
*
Offline Offline

Activity: 2380



View Profile
September 11, 2014, 02:45:45 PM
 #11880

silver criticality incoming.

first critical breach is $19 for psychological reasons.  then 18.70, finally 18.17.

first breach accomplished

second breach accomplished

wow. Is that a new 1-year low or 4-year low?

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
Pages: « 1 ... 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 [594] 595 596 597 598 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 615 616 617 618 619 620 621 622 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 ... 1558 »
  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!