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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804347 times)
cypherdoc
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September 11, 2014, 05:40:28 AM
 #11881



who knows but i'm not sure flash dumping would be a viable strategy if you're the trader tasked with accumulating coins below a certain price.  it would be too risky.  but who knows for sure; it could be a real seller after all who just wants us to over read the situation.

Yea, I suppose anything is possible but currently I'm leaning towards the manipulation side.  The way these walls just chase the bids down whenever the dumping starts is interesting to watch.  I sure am ready for the next "spurt" though!

Definitely agree that it's manipulation. We've all been watching these for weeks now and the behavior would highly suggest that.
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Peter R
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September 11, 2014, 05:40:55 AM
 #11882

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?

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marcus_of_augustus
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September 11, 2014, 06:09:08 AM
 #11883

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.

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September 11, 2014, 06:37:29 AM
 #11884

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
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September 11, 2014, 07:01:24 AM
 #11885

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

BTC: 1K9atu5zgz7izCMAynk5adBJ8Qn2YgS6nT
ErisDiscordia
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September 11, 2014, 07:08:41 AM
 #11886

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.
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September 11, 2014, 07:19:32 AM
 #11887

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.
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September 11, 2014, 07:20:05 AM
 #11888

I love Gold as much as I love Bitcoin

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September 11, 2014, 08:04:45 AM
 #11889

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
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September 11, 2014, 01:33:58 PM
 #11890

Gold collapsing. Bitcoin stable.
cypherdoc
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September 11, 2014, 02:30:11 PM
 #11891

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
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September 11, 2014, 02:32:59 PM
 #11892

silver criticality incoming.

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

first breach accomplished

second breach accomplished
cypherdoc
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September 11, 2014, 02:35:43 PM
 #11893

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:

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September 11, 2014, 02:38:05 PM
 #11894

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

cypherdoc
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September 11, 2014, 02:39:08 PM
 #11895

Erdogan,

if the stock mkt rolls here you're gonna see real deflation in action.
cypherdoc
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September 11, 2014, 02:39:38 PM
 #11896

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
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September 11, 2014, 02:41:59 PM
 #11897

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

Haha, he means quite the opposite Wink

cypherdoc
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September 11, 2014, 02:42:32 PM
 #11898

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

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September 11, 2014, 02:44:07 PM
 #11899

so this is the real bitcoin price for 2014, the 1200 was the peak of the pump

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September 11, 2014, 02:44:21 PM
 #11900

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.
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