I 'd bet GHs will still be around .1 in a week or two. Dead easy money is to be made in the mean time on simple price movement.
I concur. If someone would of asked me this a few weeks ago, I would of scoffed. But watching this market and taking many things into consideration (many of which you mentioned ie; CEX effect) its a good possibility. Interesting though, to see the depth chart and how it is taking shape. We continue to see a strong almost 90 degree sell wall. As for the buy wall, after today's volatility, the buy side completely thinned out but slowly we notice a gradual slope and the closing/narrowing of the margins.
Watching the order book is hilarious. These wise guys psycho-managing w/ dozens of separate single Gig orders @ .0980001 ,.0980002 , .0980003 ad nausea.
Then there's the jerk @ 100GHs who chases me up/down the list .00000001 btc at a time every 10 seconds - come on man - I'm not gonna blink until you you do first. I got all the time in the world. Yes, I am also a jerk, but 2 wrongs doesn't help move things.
Litterally, "ROFL" after reading this. As I witnessed this today as well. A large number of super small orders doing the same thing. I'm was giving these guys the benefit of the doubt, that perhaps it is trade bots. Ridiculous amount of 0.001GH/s Buy/Sell spam orders placed, assuming these are market testers seeing how other bots will react. Although I may be wrong.
psycho-managing w/ dozens of separate single Gig orders @ .0980001 ,.0980002 , .0980003 ad nausea. <---good comedy right there folks
Even having made a number of butter finger trades - I'm still up 2.25btc($500) after about 5 days (initial investment 9 btc). Haven't made any particularly great or big trades - just hopping back and forth as the market depth shifts. Assuming the exchange is still alive in another week, I am comfortable tripling my initial 9 - at that rate, I will be A LOT closer to profitability with mining alone.
Congrats, more bragging rights then what I can say. Sounds like you have a "CEX Sense" or 6 sense on the market(<--boo, cheap comedy
). If I was pushing larger volume like that I would be in the same profit margins club.
Really wish I had signed up w/ someone's referral link - sorry guys, didn't know I was going to fall in love - found cex in my spam folder ...for my e-mail leaked by MtGox breach in 2010. That has to be one seriously valuable spam list - lots of 'old money' BTC to be had there.
Its funny you mention referrals. Perhaps I should post this separately so that its highlighted to the CEX team.
Obviously not a priority for CEX but it would be great if the dashboard would display where your referrals were coming from. In the beginning I came on heavy with my referal link. Its littered around email sigs, personal email conversations, social networks, etc. I am getting a ton of daily "Hits". No sign ups yet but still would be interesting to see the source of click-throughs.
Speaking further to the aforementioned CEX Effect:
- I cannot overstate the [perceived or actual] advantage of having your mining rewards accumulate while you leave those GHs sitting at your high sell price.
-Also, the ability to instantly divest mining profit to increase your mining power whilst adding to bitcoin network stability without all the messy, whiney, sweaty equipment. After about a year of whizzing fans polluting my soundspace, its kinda nice letting someone else babysit the hardware for a while.
-Why GHs loves .1 and BTC loves $200? Round integer convenience - 10GHs for 1BTC / 1000 CNY / 200USD. Psychological resistance (especially around currency conversion factors) can overcome larger market forces.
**I started #cex-squawk on irc (chat.freenode.net) - if anyone cares to hurl some insults & expletives so we can get a little price action, let me know.
Also, working on pulling my trade history together - would like to see some export options in the future.
This is good. True story here.
And Kudos on starting a channel, it was a good idea. Will have to stop by at some point.
