Vladimir
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July 18, 2012, 01:08:08 PM Last edit: July 18, 2012, 01:26:38 PM by Vladimir |
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Of course, some people just saw a demonstration of what exactly their coins are being used for i.e. for selling them on mtgox. Not withdrawing it from pirate (if anything is there) would be at least unwise given the circumstances.
So you think pirate is already trapped in his own short squeeze and will thus be bankupt soon? Yes, I find that scenario quite plausible. I think it is a ponzi and he was steadily selling some part of "invested" BTC for long time now. This time was just a little show added to impress his flock and generate some "guru" status a-la "currin trading lottery". Selling into the bid to drive price down 2$ from current price certainly did not look like a mythical infallible "1-2% a day daytrader". Cannot know for certain, of course, but time will tell. Also consider claimed quarter to half million USD worth of fake bid walls, one needs money in gox to build those. Where that money came from? Yep, it is likely, from earlier sales of BTC. If those BTC were sold at 5-6$ mark, and there are plans (which is doubtful) to pay it back one needs to actually convert that into BTC. Now how one does that and even pays 3000% annual dividend on top of 50% trading losses. And BTW, pirate, did you know, if you lost 10%, you need to earn 11.11% to get back to where you have started. If you lost 50% you need to double your money to get back to the starting point.
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bitdragon
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July 18, 2012, 01:26:16 PM |
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not sure who was impressed... and guru status... you are going over board there, I hope.
The money for the bid wall could have come from the previous ask wall, but still it seems the last move for the night was a big dump and now we are back where we started pretty much implying a loss in BTC terms. But only time will tell for sure.
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Vladimir
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July 18, 2012, 01:28:02 PM |
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not sure who was impressed... and guru status... you are going over board there, I hope.
Nope, just an indication of how low opinion I have about his flock, really.
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bitdragon
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July 18, 2012, 01:45:33 PM |
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not sure who was impressed... and guru status... you are going over board there, I hope.
Nope, just an indication of how low opinion I have about his flock, really. ah the illusion of duality ! our judgements of others reflect on oneself.
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mccorvic
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July 18, 2012, 01:49:49 PM |
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ah the illusion of duality ! our judgements of others reflect on oneself.
I think you're a really cool guy. EDIT: These rally threads are boring in the middle of the day! Where is all the hype?
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01BTC10
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July 18, 2012, 02:03:00 PM |
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Pirate was stating that selling 10s of thousands of coins would not be possible without his lenders. Maybe some got scared to actually loose their coins if pirate just sells them all? Of course, some people just saw a demonstration of what exactly their coins are being used for i.e. for selling them on mtgox. Not withdrawing it from pirate (if anything is there) would be at least unwise given the circumstances. Sold all my pirate bounds He said that a price jump was bad for him so I'm running away with my profit.
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hazek
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July 18, 2012, 02:07:26 PM |
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Pirate was stating that selling 10s of thousands of coins would not be possible without his lenders. Maybe some got scared to actually loose their coins if pirate just sells them all? Of course, some people just saw a demonstration of what exactly their coins are being used for i.e. for selling them on mtgox. Not withdrawing it from pirate (if anything is there) would be at least unwise given the circumstances. Sold all my pirate bounds He said that a price jump was bad for him so I'm running away with my profit. Very smart!
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My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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Technomage
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Affordable Physical Bitcoins - Denarium.com
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July 18, 2012, 02:22:36 PM |
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Double digits this week? Today? Epic.
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Denarium closing sale discounts now up to 43%! Check out our products from here!
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sadpandatech
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July 18, 2012, 02:25:44 PM |
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ah the illusion of duality ! our judgements of others reflect on oneself.
I think you're a really cool guy. EDIT: These rally threads are boring in the middle of the day! Where is all the hype?
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If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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billington.mark
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July 18, 2012, 02:30:51 PM |
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loving every second of this...
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BTC - 1MarkBCmVn3yp1SB9RZZ7VfqJzkpV8Hmdo BitMessage - BM-GtZkeAbmKGs77FEoigm9TmsQBSfvMB3N
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sadpandatech
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July 18, 2012, 02:55:48 PM |
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If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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BTCurious
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July 18, 2012, 03:01:28 PM |
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12% profit is still 12% profit. The market may be up >12%, but that's irrelevant because you don't have those Bitcoins anymore anyway. It's important to stay rational in cases like this
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beckspace
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July 18, 2012, 03:02:25 PM |
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The market cap is now bigger than before, when bitcoins were U$12,00 a piece (08/11).
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sadpandatech
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July 18, 2012, 03:28:50 PM |
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12% profit is still 12% profit. The market may be up >12%, but that's irrelevant because you don't have those Bitcoins anymore anyway. It's important to stay rational in cases like this there is not enough room to fit all the text needed to accuratly spell it out for you. Sell BTC to clients @ 12% above market. Hold USD to try and find a lower price to buy back in at to increase said 12%. Fail because market is up >12% Double Fail by using said USD in further trying to fake wall the price back down... u r welcome. ;p
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If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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notme
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July 18, 2012, 03:34:10 PM |
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12% profit is still 12% profit. The market may be up >12%, but that's irrelevant because you don't have those Bitcoins anymore anyway. It's important to stay rational in cases like this there is not enough room to fit all the text needed to accuratly spell it out for you. Sell BTC to clients @ 12% above market. Hold USD to try and find a lower price to buy back in at to increase said 12%. Fail because market is up >12% Double Fail by using said USD in further trying to fake wall the price back down... u r welcome. ;p Awesome, now try it without wild assumptions.
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sadpandatech
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July 18, 2012, 03:35:17 PM |
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12% profit is still 12% profit. The market may be up >12%, but that's irrelevant because you don't have those Bitcoins anymore anyway. It's important to stay rational in cases like this there is not enough room to fit all the text needed to accuratly spell it out for you. Sell BTC to clients @ 12% above market. Hold USD to try and find a lower price to buy back in at to increase said 12%. Fail because market is up >12% Double Fail by using said USD in further trying to fake wall the price back down... u r welcome. ;p Awesome, now try it without wild assumptions. *raises an eyebrow at you inquisitively*
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If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
It is being worked on by smart people. -DamienBlack
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finkleshnorts
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July 18, 2012, 06:14:05 PM |
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the pressure is there. remember this key concept: "WALLS ARE FOR MARKET MANIPULATION ONLY" the agenda behind putting up a wall is never to buy or sell coins but to keep the price high/low before a set time to make a switch (ie. this weekend). the reason they want to keep the price low till the weekend is they don't want to have as much competition for cheap coins. All the REAL trades are done in "the trenches." When people actually want to buy or sell coins they will do it "in the trenches" discreetly selling/buying a couple hundred coins at a time.
So essentially what i'm saying may sound counter-intuitive but here's what i think of "walls" : A large ask wall thats up all day friday is a BULLISH sign. Assuming that they make the switch to the Bid side when the banks close. also a large bid wall thats up all day sunday is a BEARISH sign, because they plan on switching to the ask side when banks open.
The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side. this is because the bid side is full of "real" traders. People who actually want to buy coins. any time the price changes up or down the bid side is always buying "in the trenches"
Right now, in my opinion, the people that are selling "in the trenches" are being manipulated by that ask wall.
Wow I actually learned something important here. Thanks! this is why you should ignore walls. in fact, you should almost see them as an indicator of a switch The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side.
What about manipulators creating this "organic" line shape at the bid side (maybe via some script)? then they would have to be selling/buying in the trenches because they would have no wall to manipulate people into undercutting (which protects their wall, so they would have no protection). so their agenda would be to actually sell/buy coins. so this is what manipulators do AFTER a switch, or if they are predicting another manipulator's switch by essentially "calling their bluff". bottom line is: no matter if its a bot or a bunch real traders, Linear diagonal lines are signs that they actually want to buy/sell. Walls are signs that they don't. this explains why that counter-argument doesn't make sense. PLZ STOP GETTING MANIPULATED BY WALLS!! WE CAN FIX THIS OBVIOUS MANIPULATION IF YOU UNDERSTAND HOW IT WORKS So noting the large bid wall (again), there will be a switch fallowed by a price fall?
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smoothie
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LEALANA Bitcoin Grim Reaper
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July 18, 2012, 06:22:25 PM |
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Pirate was stating that selling 10s of thousands of coins would not be possible without his lenders. Maybe some got scared to actually loose their coins if pirate just sells them all? Of course, some people just saw a demonstration of what exactly their coins are being used for i.e. for selling them on mtgox. Not withdrawing it from pirate (if anything is there) would be at least unwise given the circumstances. Sold all my pirate bounds He said that a price jump was bad for him so I'm running away with my profit. Where exactly did he say this?
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finkleshnorts
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July 18, 2012, 06:24:48 PM |
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Pirate was stating that selling 10s of thousands of coins would not be possible without his lenders. Maybe some got scared to actually loose their coins if pirate just sells them all? Of course, some people just saw a demonstration of what exactly their coins are being used for i.e. for selling them on mtgox. Not withdrawing it from pirate (if anything is there) would be at least unwise given the circumstances. Sold all my pirate bounds He said that a price jump was bad for him so I'm running away with my profit. Where exactly did he say this? He did say it. I believe in the main btcst thread, not sure.
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01BTC10
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July 18, 2012, 06:34:26 PM |
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Pirate was stating that selling 10s of thousands of coins would not be possible without his lenders. Maybe some got scared to actually loose their coins if pirate just sells them all? Of course, some people just saw a demonstration of what exactly their coins are being used for i.e. for selling them on mtgox. Not withdrawing it from pirate (if anything is there) would be at least unwise given the circumstances. Sold all my pirate bounds He said that a price jump was bad for him so I'm running away with my profit. Where exactly did he say this? Somewhere in there: https://bitcointalk.org/index.php?topic=82849.0
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