TruthBear (OP)
Member
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Activity: 100
Merit: 10
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January 14, 2015, 07:37:08 AM |
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Who is still holding?
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turvarya
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January 14, 2015, 07:38:09 AM |
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me
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KennyTheMartian
Member
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Activity: 69
Merit: 10
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January 14, 2015, 07:39:38 AM |
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This is bad
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[XMR] Monero
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BADecker
Legendary
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Activity: 3934
Merit: 1380
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January 14, 2015, 07:40:01 AM |
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me
Good thing it is payday. Time to buy. EDIT: Can't decide which is the better deal, the Iraqi Dinar, or Bitcoin.
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takagari
Legendary
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Activity: 1050
Merit: 1000
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January 14, 2015, 07:40:29 AM |
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buying!!
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Eamorr
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January 14, 2015, 07:40:46 AM |
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Not gentleman
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benzona
Newbie
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Activity: 8
Merit: 0
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January 14, 2015, 07:42:06 AM |
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Just caught the bug about two weeks ago - happy that my wire transfer took forever to hit the exchange. I think we are in panic mode, but not going to try and catch a falling knife. Waiting to see some signs of rebound before I jump in!
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Nubitcoinerr
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January 14, 2015, 07:42:41 AM |
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it will be around 100 and steady
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sandykho47
Sr. Member
Offline
Activity: 252
Merit: 251
Knowledge its everything
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January 14, 2015, 07:44:02 AM |
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I'm sell for now, and if bitcoin price reach bottom i'll buy as many as i can
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Kemampuanku Tidak semua orang memiliki dan dapat melakukannya . Tidak memakan kaum sendiri . dan mempunyai kode etik yang tidak masuk akal.
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FarSky7
Member
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Activity: 100
Merit: 10
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January 14, 2015, 07:48:06 AM |
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Holy fuck, I've been watching on BTC-E the whole day.
I was there when Bit Coin shot up months ago, and I am here while it crashes.
Its all kinda surreal.
Where the hell is the bottom?
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turvarya
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January 14, 2015, 08:26:32 AM |
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It is really hard to tell. I heard sometimes, 2015 will be the year, the US-government will try to destroy Bitcoin. Maybe it is that. There was the explanation that, it goes down, in December because people are selling BTC to buy gifts, but that is over now. The explanation that still makes the most sense for me is: There are some speculators, who make a lot of money with a falling price and it is their doing.
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DoM P
Newbie
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Activity: 34
Merit: 0
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January 14, 2015, 08:45:31 AM |
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It is really hard to tell. I heard sometimes, 2015 will be the year, the US-government will try to destroy Bitcoin. Maybe it is that. There was the explanation that, it goes down, in December because people are selling BTC to buy gifts, but that is over now. The explanation that still makes the most sense for me is: There are some speculators, who make a lot of money with a falling price and it is their doing. I don't buy that. There aren't two ways to make the prices fall: Sell a lot at a low price. That means you need to own a lot of bitcoins to start with, and dump them at a low price. Now what's the interest of doing that? Hoping that the price will crash much much lower than the selling price so buy rebuy low. It's a hell of a bet. If the market swallows the orders (and it did swallow $200,000,000 worth of orders yesterday) without starting a crash, the plan fails. To succeed, such a plan needs to not find a resistance in the market. Usually, there are some. So that's extremely risky. And since all of this cannot be forseeable in details, people doing that would need to keep many Bitcoins in reverve in case the pump needs to be restarted again. That means they need to be losing money with the rest of us.
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Nagle
Legendary
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Activity: 1204
Merit: 1002
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January 14, 2015, 08:51:27 AM |
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Never seen that anywhere, anytime. Crashing so quickly!
Does anyone know of something that could explain this apart from pure panic? In a thinly traded market in the middle of the night, stuff like this can happen. That's how we got from $205 to $152 in a few minutes. Now things have settled out around $180. But that's still down $25 from earlier in the day, and the $200 barrier has been broken for the first time.
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turvarya
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January 14, 2015, 08:57:11 AM |
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It is really hard to tell. I heard sometimes, 2015 will be the year, the US-government will try to destroy Bitcoin. Maybe it is that. There was the explanation that, it goes down, in December because people are selling BTC to buy gifts, but that is over now. The explanation that still makes the most sense for me is: There are some speculators, who make a lot of money with a falling price and it is their doing. I don't buy that. There aren't two ways to make the prices fall: Sell a lot at a low price. That means you need to own a lot of bitcoins to start with, and dump them at a low price. Now what's the interest of doing that? Hoping that the price will crash much much lower than the selling price so buy rebuy low. It's a hell of a bet. If the market swallows the orders (and it did swallow $200,000,000 worth of orders yesterday) without starting a crash, the plan fails. To succeed, such a plan needs to not find a resistance in the market. Usually, there are some. So that's extremely risky. And since all of this cannot be forseeable in details, people doing that would need to keep many Bitcoins in reverve in case the pump needs to be restarted again. That means they need to be losing money with the rest of us. What most people like you don't understand: There are people out there manipulating prices of stocks or even currencies long before there was Bitcoin. Just open your eyes and you will find examples for that. It doesn't matter, that Bitcoin is a new technology, since the exchanges work the same way as everywhere else. When I told people some years ago, that there are people manipulating stock prices, they told me, that is not possible. Today I can show them a court decision right here in Austra, that a stock was manipulated. So, don't be naive, just because you don't understand how they manipulate this prices, doesn't mean they can't do it. There are people doing this shit for decades. (and no, I can't tell you how exactly they are doing it, I am not an expert either)
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Deadstock
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January 14, 2015, 08:57:32 AM |
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Never seen that anywhere, anytime. Crashing so quickly!
Does anyone know of something that could explain this apart from pure panic? In a thinly traded market in the middle of the night, stuff like this can happen. That's how we got from $205 to $152 in a few minutes. Now things have settled out around $180. But that's still down $25 from earlier in the day, and the $200 barrier has been broken for the first time. It's not the middle of the night across the globe ya know.
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DoM P
Newbie
Offline
Activity: 34
Merit: 0
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January 14, 2015, 09:13:57 AM |
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Never seen that anywhere, anytime. Crashing so quickly!
Does anyone know of something that could explain this apart from pure panic? In a thinly traded market in the middle of the night, stuff like this can happen. That's how we got from $205 to $152 in a few minutes. Now things have settled out around $180. But that's still down $25 from earlier in the day, and the $200 barrier has been broken for the first time. Thinly traded? Bitcoin had never seen this kind of volumes. Never! What most people like you don't understand: There are people out there manipulating prices of stocks or even currencies long before there was Bitcoin. Just open your eyes and you will find examples for that. It doesn't matter, that Bitcoin is a new technology, since the exchanges work the same way as everywhere else. When I told people some years ago, that there are people manipulating stock prices, they told me, that is not possible. Today I can show them a court decision right here in Austra, that a stock was manipulated. So, don't be naive, just because you don't understand how they manipulate this prices, doesn't mean they can't do it. There are people doing this shit for decades. (and no, I can't tell you how exactly they are doing it, I am not an expert either)
People like me are in the finance business. I am actually comanager of a hedge fund in Bitcoins, been working in the banking and finance business for over 10 years now, and am the CEO of Crypto Finance Analysis Consulting. So, unlike you, I do undersand how these things work, and I can actually explain how prices can be manipulated. It's been done with gold, for example: A few banks agree on a strategy (the equivalent here would be the top 5 to 10 exchanges agreeing on such a plan) During certains periods of the day, when the volume is known to be much lower than at some other times, they put sell orders to push the price downward. They lose money at that point, but since they can predict the volumes from years of experience on that specific market, they know the volume with rise within a couple of hours. Anyway... Since they push the price downward, stop orders are automatically triggered, pushing the price further down. Then, the volume starts rising again, but at a low price. The banks buy the gold and the price slowly recovers. Ready for the next operation. http://www.bloomberg.com/news/2014-02-28/gold-fix-study-shows-signs-of-decade-of-bank-manipulation.htmlWhy doesn't it work for Bitcoin? - The history isn't long enough - The price volatility is too high - The volume volatility itself is too high, so there's no way to predict it - The volume is not big enough for such players, who are playing of much larger ones, several dozens billion dollars per day.
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turvarya
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January 14, 2015, 09:35:22 AM |
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Never seen that anywhere, anytime. Crashing so quickly!
Does anyone know of something that could explain this apart from pure panic? In a thinly traded market in the middle of the night, stuff like this can happen. That's how we got from $205 to $152 in a few minutes. Now things have settled out around $180. But that's still down $25 from earlier in the day, and the $200 barrier has been broken for the first time. Thinly traded? Bitcoin had never seen this kind of volumes. Never! What most people like you don't understand: There are people out there manipulating prices of stocks or even currencies long before there was Bitcoin. Just open your eyes and you will find examples for that. It doesn't matter, that Bitcoin is a new technology, since the exchanges work the same way as everywhere else. When I told people some years ago, that there are people manipulating stock prices, they told me, that is not possible. Today I can show them a court decision right here in Austra, that a stock was manipulated. So, don't be naive, just because you don't understand how they manipulate this prices, doesn't mean they can't do it. There are people doing this shit for decades. (and no, I can't tell you how exactly they are doing it, I am not an expert either)
People like me are in the finance business. I am actually comanager of a hedge fund in Bitcoins, been working in the banking and finance business for over 10 years now, and am the CEO of Crypto Finance Analysis Consulting. So, unlike you, I do undersand how these things work, and I can actually explain how prices can be manipulated. It's been done with gold, for example: A few banks agree on a strategy (the equivalent here would be the top 5 to 10 exchanges agreeing on such a plan) During certains periods of the day, when the volume is known to be much lower than at some other times, they put sell orders to push the price downward. They lose money at that point, but since they can predict the volumes from years of experience on that specific market, they know the volume with rise within a couple of hours. Anyway... Since they push the price downward, stop orders are automatically triggered, pushing the price further down. Then, the volume starts rising again, but at a low price. The banks buy the gold and the price slowly recovers. Ready for the next operation. http://www.bloomberg.com/news/2014-02-28/gold-fix-study-shows-signs-of-decade-of-bank-manipulation.htmlWhy doesn't it work for Bitcoin? - The history isn't long enough - The price volatility is too high - The volume volatility itself is too high, so there's no way to predict it - The volume is not big enough for such players, who are playing of much larger ones, several dozens billion dollars per day. So, you made a website, so you are an expert on finance? I just have to take a look at your (short) posting history to see, that you are not. Your statement is also pretty absurd. So, there is this one strategy and it is not working on Bitcoin, so it is impossible, that the price is manipulated? Are you really serious with that statement?
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DoM P
Newbie
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Activity: 34
Merit: 0
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January 14, 2015, 09:48:55 AM |
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So, you made a website, so you are an expert on finance?
I didn't make a a website. I hired people to do so. In the team, we also have someone with 2 master degrees: finance and trading, someone else with 2 master degrees also: finance and risk management, someone else with a master degree in economics, etc. So yes, that makes us freaking experts. I just have to take a look at your (short) posting history to see, that you are not. You're right. My experience is all in Bitcointalk. You got it all here. Check this out here: https://nxtforum.org/index.php?action=profile;u=554Or here: http://cointelegraph.com/news/112356/exclusive-key-negotiator-in-bter-nxt-hack-speaks-outOr here: http://bitcoinist.net/cryptocoins-hedge-fund-nxtinside-gives-birth-to-a-new-partnership/Or here: http://www.contrepoints.org/author/dom-p... Your statement is also pretty absurd. So, there is this one strategy and it is not working on Bitcoin, so it is impossible, that the price is manipulated? Are you really serious with that statement?
Since you adminitedly don't understand how this works, why exactly are you trolling here? If you're so sure this is a price manipulation case, just explain how this is done. Or just leave it to pros.
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