Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN? - page 117.

allinvain

legendary

Activity: 3080

Merit: 1083

Quote from: molecular on May 21, 2011, 06:30:30 AM

Quote from: molecular on May 21, 2011, 05:36:18 AM

Quote from: allinvain on May 20, 2011, 08:55:50 PM

I am against dark pools. If we are to have a true an open exchange all price data should be immediately available to all market participants. No backroom deals!

+1,

magicaltux?

just talked to magicaltux on irc.

He said implementation of iceberg orders (as discussed here: http://forum.bitcoin.org/index.php?topic=5564.0;all) is in progress.

Awesome. That is a much better solution IMHO. Thanks BitterTea for pointing me in that direction.

Current-C

full member

Activity: 124

Merit: 100

Quote from: FreeMoney on May 21, 2011, 12:26:34 AM

Quote from: Current-C on May 20, 2011, 09:02:01 PM

Quote from: FooDSt4mP on May 20, 2011, 08:51:16 PM

Quote from: toddbethell on May 20, 2011, 08:41:09 PM

I suspect fake sales are driving down BTC. Examine large spikes that hardly move the price that also use ‘Dark pool and normal’. Co-conspirators or one person with fictitious accounts…. Wish I’d thought of it.

Good argument against dark pools... If you have enough capital on both sides, you can control the price for only the cost of fees. The market may not follow your lead, but this market has a lot of inexperienced players.

This is why I made the call awhile back that when the pro's enter the market we'll see a sharp price decline. People that have the money and know-how to move markets are not going to buy at the top. Could be that right now or just profit taking by some early entrants.

How are new entrants going to push the price down? Won't they need to sell coins to do that? Won't they need to buy them first? Won't that push up the price?

By early entrants I meant the people who got into bitcoin early and have likely already amassed a large amount of coins at little cost. $6-7 probably looks pretty attractive if you're sitting on a couple thousand percent gain.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: molecular on May 21, 2011, 05:36:18 AM

Quote from: allinvain on May 20, 2011, 08:55:50 PM

I am against dark pools. If we are to have a true an open exchange all price data should be immediately available to all market participants. No backroom deals!

+1,

magicaltux?

just talked to magicaltux on irc.

He said implementation of iceberg orders (as discussed here: http://forum.bitcoin.org/index.php?topic=5564.0;all) is in progress.

BitterTea

sr. member

Activity: 294

Merit: 252

Quote from: molecular on May 21, 2011, 05:36:18 AM

Quote from: allinvain on May 20, 2011, 08:55:50 PM

I am against dark pools. If we are to have a true an open exchange all price data should be immediately available to all market participants. No backroom deals!

+1,

magicaltux?

There's nothing wrong with dark pools. If you are willing to buy, but do not advertise that fact, you are "withholding price data". If there were no dark pools, large traders would use bots instead, and that price data would still not be available.

I think a better solution is to use "iceberg orders" instead of dark pools. There has been some discussion about this in the past on this forum.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: allinvain on May 20, 2011, 08:55:50 PM

I am against dark pools. If we are to have a true an open exchange all price data should be immediately available to all market participants. No backroom deals!

+1,

magicaltux?

molecular

donator

Activity: 2772

Merit: 1019

Quote from: FreeMoney on May 20, 2011, 08:11:04 PM

Quote from: allinvain on May 20, 2011, 07:29:19 PM

Quote from: nster on May 20, 2011, 05:08:00 PM

I'm hoping a slide down to 5$, hopefully even 4$, but not much more than that.

You intend to snap up some coins at that price range?

So what does everyone think is the strongest reason for this massive selloff?

Maybe these guys who liked bitcoin enough to totally forget about it and then find 40kBTC on their hard drive.

Interesting thought, there's probably something to it.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: Current-C on May 20, 2011, 09:02:01 PM

Quote from: FooDSt4mP on May 20, 2011, 08:51:16 PM

Quote from: toddbethell on May 20, 2011, 08:41:09 PM

I suspect fake sales are driving down BTC. Examine large spikes that hardly move the price that also use ‘Dark pool and normal’. Co-conspirators or one person with fictitious accounts…. Wish I’d thought of it.

Good argument against dark pools... If you have enough capital on both sides, you can control the price for only the cost of fees. The market may not follow your lead, but this market has a lot of inexperienced players.

This is why I made the call awhile back that when the pro's enter the market we'll see a sharp price decline. People that have the money and know-how to move markets are not going to buy at the top. Could be that right now or just profit taking by some early entrants.

How are new entrants going to push the price down? Won't they need to sell coins to do that? Won't they need to buy them first? Won't that push up the price?

FooDSt4mP

full member

Activity: 182

Merit: 100

I'm not sure about "Dark pool and normal", but for "Dark pool only", you could have two accounts and sell a large quantity for a lower price than current bids to your other account. Sure, you pay the fees on both sides, but when people see the order go through they see it as a legit trade and adjust their price expectations accordingly.

tomcollins

full member

Activity: 182

Merit: 101

Quote from: toddbethell on May 20, 2011, 08:41:09 PM

I suspect fake sales are driving down BTC. Examine large spikes that hardly move the price that also use ‘Dark pool and normal’. Co-conspirators or one person with fictitious accounts…. Wish I’d thought of it.

How can you do that? I don't quite understand how this would work.

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Something's brewing .... keep cool Cool

Current-C

full member

Activity: 124

Merit: 100

Quote from: FooDSt4mP on May 20, 2011, 08:51:16 PM

Quote from: toddbethell on May 20, 2011, 08:41:09 PM

I suspect fake sales are driving down BTC. Examine large spikes that hardly move the price that also use ‘Dark pool and normal’. Co-conspirators or one person with fictitious accounts…. Wish I’d thought of it.

Good argument against dark pools... If you have enough capital on both sides, you can control the price for only the cost of fees. The market may not follow your lead, but this market has a lot of inexperienced players.

This is why I made the call awhile back that when the pro's enter the market we'll see a sharp price decline. People that have the money and know-how to move markets are not going to buy at the top. Could be that right now or just profit taking by some early entrants.

toddbethell

jr. member

Activity: 49

Merit: 1

Yes, I am now against the dark pools. When I had a chance to vote I voted for them. But now that I have been 'run over' 3 or 4 times, to the tune of 10,000+ btc I have changed my mind. Magicaltux said I can't change my vote a month after the fact. What kind of democracy is this anyways? Wink

allinvain

legendary

Activity: 3080

Merit: 1083

I am against dark pools. If we are to have a true an open exchange all price data should be immediately available to all market participants. No backroom deals!

FooDSt4mP

full member

Activity: 182

Merit: 100

Quote from: toddbethell on May 20, 2011, 08:41:09 PM

I suspect fake sales are driving down BTC. Examine large spikes that hardly move the price that also use ‘Dark pool and normal’. Co-conspirators or one person with fictitious accounts…. Wish I’d thought of it.

Good argument against dark pools... If you have enough capital on both sides, you can control the price for only the cost of fees. The market may not follow your lead, but this market has a lot of inexperienced players.

toddbethell

jr. member

Activity: 49

Merit: 1

I suspect fake sales are driving down BTC. Examine large spikes that hardly move the price that also use ‘Dark pool and normal’. Co-conspirators or one person with fictitious accounts…. Wish I’d thought of it.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: allinvain on May 20, 2011, 07:29:19 PM

Quote from: nster on May 20, 2011, 05:08:00 PM

I'm hoping a slide down to 5$, hopefully even 4$, but not much more than that.

You intend to snap up some coins at that price range?

So what does everyone think is the strongest reason for this massive selloff?

Maybe these guys who liked bitcoin enough to totally forget about it and then find 40kBTC on their hard drive.

tomcollins

full member

Activity: 182

Merit: 101

Quote from: allinvain on May 20, 2011, 07:29:19 PM

Quote from: nster on May 20, 2011, 05:08:00 PM

I'm hoping a slide down to 5$, hopefully even 4$, but not much more than that.

You intend to snap up some coins at that price range?

So what does everyone think is the strongest reason for this massive selloff?

Increased difficulty means miners need to sell more to cover cost, and my guess is some major buyers are not buying anymore (already got their investment).

allinvain

legendary

Activity: 3080

Merit: 1083

Quote from: nster on May 20, 2011, 05:08:00 PM

I'm hoping a slide down to 5$, hopefully even 4$, but not much more than that.

You intend to snap up some coins at that price range?

So what does everyone think is the strongest reason for this massive selloff?

nster

full member

Activity: 126

Merit: 100

I'm hoping a slide down to 5$, hopefully even 4$, but not much more than that.

S3052

legendary

Activity: 2100

Merit: 1000

All,

I will be away from computers the next 2 days and wanted to leave a short update.

As mentioned, BTC/USD are in a short/medium downtrend from the 8.9$ high. Key downside support levels are

4.7-5.3$ (but this actually is a weaker support that might not hold for very long)
3.5-3.66$ (medium strong support)
1.1$ (very strong)

Only a new high above 8.9$ and better, a break of 10$ will clearly signal the continuation of the (still intact) longterm rally.

have a great weekend and I will share the usual analysis as planned on Monday.

Your S3052

Topic: Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN? - page 117. (Read 540250 times)