No one is dumping into my buy walls, its getting harder to buy blocks of CAP without crossing the market and pumping the price.
Also that 37 BTC buy wall hasn't moved an inch in days. I don't think anyone holds that many CAP to feed that whale.
Don't think anyone is playing much since that wall appeared, what chance is there of buying back anything you sell?
Market was vibrant last weeks.. alas no more.
*and minutes later it rises to 44btc @.00005508
I'll certainly be leaving the market alone now, got my target balance and no reason to grease those wheels with buys at these levels.
Valuing 22% of the money supply at 44.42 BTC
I would put a fair market value of CAP at around 25k-30k satoshi per CAP. Considering the Stake Percentage, Existing Money Supply and Developers/Community. I think people are waiting till the hardfork to buy which would be a bad move, these prices are not going to last long.
Shame the person(s) behind that wall don't subscribe to that and buy in over time instead of forcing everyone to trade above them with no intention of buying themselves.
They already hold plenty.
Manipulation irks me - can you tell ?
There is absolutely nothing wrong with placing a buy/sell order in at any size or time preference. It is one of the key elements of a functional market. People's opinions don't matter.
Personally I think it is a good order (as long as it lasts). It is sending the signal to market participants that there is plenty of demand for the coin and plenty of liquidity. There would have to be massive exodus from CAP to move that order.
Seriously, I thought you knew better than that.
Anyway to me it's so unsubtle that its telling me the complete opposite. Perhaps I'm getting long in the tooth and cynical.
It's killing liquidity (and volatility which I was quite frankly making happy bank on - hence my faux upset
) and leads me to
feel herded along as a trader instead of being in control of my own choices and free to jump on opportunity (as I see them).
At the first touch of a decent sized sell we'lll see it disappear completely and it looks like there is no real appetite at these levels (YET!) The book is thin
I agree on above valuations in time but there is work to do and a few months to wait yet before POS properly kicks in.
But hey I could be wrong. I can't lose either way now but it's going to be less fun as it plays out.