Topic: BITCOIN is going DOWN - page 2. (Read 3659 times)
Guys this is clearly because of the https://cryptodouble.com/ and its ponzi scheme.
There is some heavy action on Chinese exchanges, however, I think this might be related to the holiday and end of year. Also, we're getting some media spin that the DPR trial is "Crackdown on bitcoin" which I could imagine, sent through the Chinese version of google translate, (baidu translate??) might come out as "US bans bitcoin" or something equally drastic sounding. Just as their multiple stiffening/confirming of regulations came out several times as "china bans bitcoin" on this side.
I agree the Chinese exchanges don't have the coins they claim. The issue is does that result in the price recovering, as they buy to try and cover the claims on them or a total collapse as everyone loses faith in bitcoin.
I don't think they are fractional reserve, just high frequency.
Example, draw a line across a table, one side of line is exchange, the other side is you, tape a 1 BTC wallet to the rim of a bicycle wheel, $250 on the other side, now spin it at 500 RPM.... congrats, you just created 30,000 BTC an hour volume. If measured by the forex standard of a buy counting as 1 and a sell counting, each buy/sell pair counting as 2, you've got 60,000 BTC volume.
I don't get this about fake transactions, isn't bitcoin designed so that doesn't happen? supposedly the Chinese have been doing this a lot...
Can someone explain please?
Transactions on exchanges are internal, not in bitcoin blockchain. Exchanges have their internal database of trades. No bitcoin get moved, just numbers on accounts. Only when btc is withdrawn, that transaction is on blockchain, and bitcoin moved from exchange. Can someone explain please?
Can't use those log charts any more to make it look like BTC is constantly rising
The chinesse exchangers(OKcoin, BTC-china, Huobi, LakeBTC) will try to manipulate the market for another few days by using a lot of fake transactions(as they always did) and then....under 150 USD
i don't think the fake transactions have any impact on the price of it! They r just trying competing with each other with the trading volume!I agree the Chinese exchanges don't have the coins they claim. The issue is does that result in the price recovering, as they buy to try and cover the claims on them or a total collapse as everyone loses faith in bitcoin.
Based on recent price action it seems like the latter which is too bad.
we´ll see 100$ in a month
I think this is last BARGAIN SALE 
I don't get this about fake transactions, isn't bitcoin designed so that doesn't happen? supposedly the Chinese have been doing this a lot...
Can someone explain please?
Can someone explain please?
The transactions are legit but they are just dummy transactions(sent back and forward) to create the impression there are still many transactions happening. If you sent 0.01btc to your second address 20 times and send them back 20 times, that's 40 arbitrary transactions.
yea, it is going to down imo
even the believer that thinks the bitcoin price will rise also sells their bitcoin, just like they have no trust in this world anymore... just like me lol
as always, imho, and forget about my english
even the believer that thinks the bitcoin price will rise also sells their bitcoin, just like they have no trust in this world anymore... just like me lol
as always, imho, and forget about my english
I don't get this about fake transactions, isn't bitcoin designed so that doesn't happen? supposedly the Chinese have been doing this a lot...
Can someone explain please?
Can someone explain please?
In terms of ecosystem development however, VC like to see mining in datacenters vs in basements. However, I'm not averse to some adjustment in balance of power and the downfall of those who egregiously abused the community to bootstrap themselves a megamine.
My miners will not be switched on and have been switched off for the last few days. This is the downfall, there will be no recovery. Why? The chinese farms which are still holding coins will rapidly dump what ever they have. Thank those pools for killing the btc. People only cared about the liquidity of the btc and that was it. Get it, sell it for USD. Get it and sell it. No one actually used it.
I actually bought a couple items off eBay using my BTC to other BTC users, not just dumpers. But now they have to dump because soon, these will be worth pennies.
Bitcoin had potential to be revolutionary, now its being murdered and just a way for people to try make a quick buck. I won't sell my miners. I'm really enjoying the fact that if the BTC price drops, asics value will drop, no one will buy these china machines anymore and so forth. Hopefully that boots a lot of the giants out of the game and the btc stays at around $10 - $20 usd a piece and its mineable for those dedicated to mine from home.
I actually bought a couple items off eBay using my BTC to other BTC users, not just dumpers. But now they have to dump because soon, these will be worth pennies.
Bitcoin had potential to be revolutionary, now its being murdered and just a way for people to try make a quick buck. I won't sell my miners. I'm really enjoying the fact that if the BTC price drops, asics value will drop, no one will buy these china machines anymore and so forth. Hopefully that boots a lot of the giants out of the game and the btc stays at around $10 - $20 usd a piece and its mineable for those dedicated to mine from home.
@mayax
1. link is talking about blockchain transactions, not exchange transactions.
2., and 3. link, point taken. Thanks.
1. link is talking about blockchain transactions, not exchange transactions.
2., and 3. link, point taken. Thanks.
I think the price is reflecting professional traders working with TA and ignoring big news. I don't think there was enough liquidity to open it up to the trading floors. Microsoft and Paypal were both big names talking about Bitcoin last year. These are massive stories not to say anything for the amount of talent flooding into the industry. We'll see what happens but price will have a massive and misguided publicity for the technology. I've held Bitcoin from £70 to £700 and back to £150 I don't really care about the price because what it represents for me is something bigger that profit.
The chinesse exchangers(OKcoin, BTC-china, Huobi, LakeBTC) will try to manipulate the market for another few days by using a lot of fake transactions(as they always did) and then....under 150 USD
You thing there must be fake transactions for that trading volume? Chinese exchanges operate with 0% trading fee, traders there are using that for high frequency trading on smallest move. That is generating tons of volume.can you please tell me how the chinesse exchangers are earning money without fees? They are not voluntaries for sure
https://www.cryptocoinsnews.com/fake-transaction-chains-double-2014-bitcoin-volume/
http://www.coindesk.com/reality-chinese-trading-volumes/
http://www.ibtimes.co.uk/chinese-bitcoin-exchange-accused-faking-trade-data-1430122
Guys guys!! what is the floor?
40 USD is the floor.
What
where you got that number from , It will never drop that much , never . what could possibly make it drop to that price
According to Bitcoin.org, the price of a bitcoin is determined by supply and demand. In reality, the price is set by the big exchangers (4-5).
But they will forced to cut the price down in the end. Now, the people are selling and the exchangers will have to sell too. This moment it will be so funny. We will see how large amount of BTC is moved from other to each other until one of them will remain with the loss.
)Exchangers sells to who exactly ? since they are manipulating the price ...if they bought when the price was about 300$ for example , what they are going to earn if they sell it for lower price now like ~235$ , It wouldn't make sense if they are losing money instead of earning money to be honest
shouldn't they inscrease the price so they earn more ? or they manipulate it and make it lower so they buy a lot of BTC and sells after
The chinesse exchangers(OKcoin, BTC-china, Huobi, LakeBTC) will try to manipulate the market for another few days by using a lot of fake transactions(as they always did) and then....under 150 USD
You thing there must be fake transactions for that trading volume? Chinese exchanges operate with 0% trading fee, traders there are using that for high frequency trading on smallest move. That is generating tons of volume. Guys guys!! what is the floor?
40 USD is the floor.
What
where you got that number from , It will never drop that much , never . what could possibly make it drop to that price
According to Bitcoin.org, the price of a bitcoin is determined by supply and demand. In reality, the price is set by the big exchangers (4-5).
But they will forced to cut the price down in the end. Now, the people are selling and the exchangers will have to sell too. This moment it will be so funny. We will see how large amount of BTC is moved from other to each other until one of them will remain with the loss.
)Guys guys!! what is the floor?
40 USD is the floor.
What
where you got that number from , It will never drop that much , never . what could possibly make it drop to that price
Right. Just like it couldn't drop to 500 when it was 700. Or it was impossible to drop to 400 when it was 500.
The indicators, trade volume, and trends all point to a huge price crash. Breaking 200 resistance would be both a gigantic blow to the market physically and psychologically. It's already to the point miners are losing money.
Hell, the fact it breeched its previous low of $250 is significant.
Will be interesting to see where this long downtrend eventually goes. I'm hesitant to buy in just a bit, but I think I'm going to wait. Feels like a huge trap right now, and the only ones making money are the daytraders shorting every 5 minutes.
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