Japanese run the BTC price! - page 2.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: shulio on May 10, 2018, 06:54:51 PM

You can believe what you want.

Direct quote from the man himself, who presumably like other legal and financial professionals in other countries gets fired and blacklisted for lying, or random sentence - probably bot generated - from piece of shit crypto press? Hmm...

I'm going to settle for the former myself but that's just me.

People who are balls deep in crypto seem to forget that elsewhere deception has actual consequences because there's this new thing out called being accountable.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: jamesashmore1964 on May 08, 2018, 10:45:09 AM

If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!

Where did you get that number from?

Quote from: richardsNY on May 08, 2018, 06:49:39 PM

The only exchanges that matter are GDAX, Bitfinex, Gemini and Bitstamp. All foreign trading volumes do contribute somewhat, but they mainly affect their own market. I remember when South Korean exchanges were trading $5000 above western exchanges, which is beyond insane, but the western markets didn't give one single damn. Later on South Korean premiums vanished and became just a few hundred instead of thousands -- this perfectly indicates that continents have different demand standards and don't necessarily steer the other side up or down with it. That's the benefit of having different exchanges all operating different order books.

And slowly SK turns into China, faking numbers and volume...

Quote

Chosun reports that police believe the exchange has faked its balance sheets and deceived investors. South Korea's Financial Supervisory Commission (FSC) reportedly sent ten investigators to the exchange’s head offices in Seoul at 10 am this morning, and will access the company’s computer system to audit the exchange’s virtual currency holdings

.

If they've faked balances I'm pretty sure they've faked everything.
I'm always puzzled how exchanges come out of nowhere and suddenly they have hundred of millions in trade.
Yet on 1000BTC dump and it's the end of the world... Grin

jamesashmore1964

jr. member

Activity: 336

Merit: 3

I predicted it would be ugly!

shulio

legendary

Activity: 1540

Merit: 1016

Quote from: gentlemand on May 09, 2018, 11:37:39 AM

Quote from: shulio on May 09, 2018, 11:35:19 AM

If I remember correctly, he is selling his BTC on 3 public exchanges. And the fall of the Bitcoin price is always happening just after he moved his BTC from his wallet.

Other than that you can ignore the messages or the poster that you think is rubbish, if you have enough brainpower. Wink

Witness the power of my brain and cower - https://news.bitcoin.com/the-mt-gox-whale-explains-his-crypto-selling-strategy/

“Following consultation with cryptocurrency experts, I sold BTC and BCH, not by an ordinary sale through the BTC/BCH exchange, but in a manner that would avoid affecting the market price, while ensuring the security of the transaction to the extent possible,” Kobayashi details.

Which means OTC.

https://cointelegraph.com/news/effects-of-mt-gox-trustees-400-mln-sale-on-bitcoin-market

"Over the past three months, Nobuaki Kobayashi has sold over $300 mln in Bitcoin on two public exchanges. Some critics believe Kobayashi's sales put so many Bitcoin back into circulation, that the sales contributed to severe drops in the price of Bitcoin."

You can believe what you want.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: shulio on May 09, 2018, 11:35:19 AM

If I remember correctly, he is selling his BTC on 3 public exchanges. And the fall of the Bitcoin price is always happening just after he moved his BTC from his wallet.

Other than that you can ignore the messages or the poster that you think is rubbish, if you have enough brainpower. Wink

Witness the power of my brain and cower - https://news.bitcoin.com/the-mt-gox-whale-explains-his-crypto-selling-strategy/

“Following consultation with cryptocurrency experts, I sold BTC and BCH, not by an ordinary sale through the BTC/BCH exchange, but in a manner that would avoid affecting the market price, while ensuring the security of the transaction to the extent possible,” Kobayashi details.

Which means OTC.

shulio

legendary

Activity: 1540

Merit: 1016

Quote from: gentlemand on May 09, 2018, 07:56:48 AM

Quote from: shulio on May 09, 2018, 07:52:18 AM

Of course the MTGox trustee is not the only cause. But he is the spark of this recent fall. He sells and a lot of people sell with him.

He said his sales were OTC and he didn't specify when they took place. How would anyone manage to pin the 'blame' on him when they don't have the facts?

The lack of brainpower on display when people roll these stillborn facts out is very tiresome to witness.

If I remember correctly, he is selling his BTC on 3 public exchanges. And the fall of the Bitcoin price is always happening just after he moved his BTC from his wallet.

Other than that you can ignore the messages or the poster that you think is rubbish, if you have enough brainpower. Wink

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: shulio on May 09, 2018, 07:52:18 AM

Of course the MTGox trustee is not the only cause. But he is the spark of this recent fall. He sells and a lot of people sell with him.

He said his sales were OTC and he didn't specify when they took place. How would anyone manage to pin the 'blame' on him when they don't have the facts?

The lack of brainpower on display when people roll these stillborn facts out is very tiresome to witness.

shulio

legendary

Activity: 1540

Merit: 1016

Quote from: vintages on May 08, 2018, 01:31:17 PM

Quote from: shulio on May 08, 2018, 11:26:23 AM

The MTGox man is on the stage again. He continue to sell the Bitcoin recovered from MTGox hack. This is why the price falling.

Don't be quick to point accusing fingers. Yes, the MTGox trustee messed up big time then, but I don't think that he might be the reason why the price of bitcoin is dipping recent. Anything could have caused it; the traders who are rushing off to sell since the price moved from 6k for 9k could have been the cause. Moreover, the recent price that dropped isn't that bad.

Of course the MTGox trustee is not the only cause. But he is the spark of this recent fall. He sells and a lot of people sell with him.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: richardsNY on May 08, 2018, 06:49:39 PM

The only exchanges that matter are GDAX, Bitfinex, Gemini and Bitstamp. All foreign trading volumes do contribute somewhat, but they mainly affect their own market. I remember when South Korean exchanges were trading $5000 above western exchanges, which is beyond insane, but the western markets didn't give one single damn. Later on South Korean premiums vanished and became just a few hundred instead of thousands -- this perfectly indicates that continents have different demand standards and don't necessarily steer the other side up or down with it. That's the benefit of having different exchanges all operating different order books.

Totally agree. We have witness South Korea exchanges at a premium high but it didn't significantly affected the price globally. Although Japan has a huge chunk of trading volumes, I think its not enough to offset the Western exchanges to really bring a dent of the price (positive or negative). The price is going on another minor correction, but I do think that it has nothing to do with the Japanese market though.

Quote from: okala on May 09, 2018, 01:00:07 AM

I was thinking before that Chinese run the market and that is why news from that region do affects bitcoin in the most negative or positive ways. Japanese also have some influence but I don't think that they control the market as there are many factors that determine price.

Chinese case is different. They are faking the volumes and manipulating the price until PBoC caught them.

okala

full member

Activity: 980

Merit: 114

I was thinking before that Chinese run the market and that is why news from that region do affects bitcoin in the most negative or positive ways. Japanese also have some influence but I don't think that they control the market as there are many factors that determine price.

airdagon

member

Activity: 546

Merit: 17

Quote from: shulio on May 08, 2018, 11:26:23 AM

The MTGox man is on the stage again. He continue to sell the Bitcoin recovered from MTGox hack. This is why the price falling.

prices fall not completely wrong MTGox, man! we should as users and investors who have a weak mentality self-conscious, that the fall of this price can also be caused by people panicked (mentally weak) because hearing negative news just sell it directly Cheesy

romero121

legendary

Activity: 3234

Merit: 1214

Vave.com - Crypto Casino

Japan holding a large volume of user network has the ability to manipulate the price to some extent, even though the network is a complete decentralized. Moreover in the past this was done by China who holds the majority of the miners as well the user community. On the whole I don't think that Yen is making an influence over bitcoin, because the forex market is far apart from the cryptocurrency.

Koloulinger

sr. member

Activity: 443

Merit: 250

Blockchain Just Entered The Real World

Quote from: jamesashmore1964 on May 08, 2018, 10:45:09 AM

If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!

btc price higher with pair fiat money not japan market
you can read in coinmarketcap, click here https://coinmarketcap.com/currencies/bitcoin/#markets , and then click price, to get rank list about bitcoin price

richardsNY

legendary

Activity: 1232

Merit: 1091

The only exchanges that matter are GDAX, Bitfinex, Gemini and Bitstamp. All foreign trading volumes do contribute somewhat, but they mainly affect their own market. I remember when South Korean exchanges were trading $5000 above western exchanges, which is beyond insane, but the western markets didn't give one single damn. Later on South Korean premiums vanished and became just a few hundred instead of thousands -- this perfectly indicates that continents have different demand standards and don't necessarily steer the other side up or down with it. That's the benefit of having different exchanges all operating different order books.

Tankdestroyer

full member

Activity: 476

Merit: 107

Quote from: jamesashmore1964 on May 08, 2018, 10:45:09 AM

If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!

That's just volume and not total holdings, so we aren't at their mercy. Other countries like Russia, America, etc. have more holders when compared to Japan, and them dumping would just look puny when compared to holders of those countries dumping. Do not worry about volume since it will subside soon when btc becomes more adopted by countries. Volume will eventually be evenly distributed among many countries.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: exstasie on May 08, 2018, 04:55:09 PM

Don't they have zero trading commissions on many Japanese exchanges? I know Bitflyer.jp had no fees at some point. It might still not, I'm not sure.

I know a couple traders that always always watch the Bitflyer chart. I'd agree with them that Bitflyer leads sometimes, but not often enough that I particularly care. Same goes for Bithumb in Korea. At the end of the day, all charts reflect the same sentiment. Arbitrage (or the expectation of arbitrage) takes care of that.

I think they do which means those volume figures are irrelevant. Bitflyer said it was temporary but it may well still be up there.

Korea should be discounted completely as there's absolutely no way foreign money can access it whatsoever. Like I said I've never seen anyone anywhere mention the JPY price. I'm sure the Japanese do.

Everyone else is looking at the usual Western places.

btc_angela

hero member

Activity: 2660

Merit: 551

Quote from: jamesashmore1964 on May 08, 2018, 10:45:09 AM

If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!

Obviously they have the market share as far as trading volume but it doesn't mean that they can totally manipulated the price. They are just one on the so many factors that can affect the price. There's still the US and the South Korean market and small nations who trades. Where did you get that figures of $8800? Show us your TA so that we discuss and not just trying figures around in which you sounded like creating FUD here.

7788bitcoin

legendary

Activity: 2282

Merit: 1023

Quote from: vintages on May 08, 2018, 01:31:17 PM

Don't be quick to point accusing fingers. Yes, the MTGox trustee messed up big time then, but I don't think that he might be the reason why the price of bitcoin is dipping recent. Anything could have caused it; the traders who are rushing off to sell since the price moved from 6k for 9k could have been the cause. Moreover, the recent price that dropped isn't that bad.

I am sure the MtGox sold a huge amount of coins and that reflected the market going down and if they are selling ten thousand plus coins the other sellers would panic and dump their coins fearing a correction and if they are selling the coins again, it will reflect in the price.

Superzpay

hero member

Activity: 672

Merit: 500

Quote from: jamesashmore1964 on May 08, 2018, 10:45:09 AM

If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!

Not only Japan but there are many places in all over the world where you can see some bigger investors of bitcoin. They are intelligent personalities and who know the reality of bitcoin and they think for their future and they invest only to give a good future to their coming life that is why they do not care that how is their government for bitcoin but only invest in it. It is right that Japan government is in the favor of bitcoin but it do not mean that all of the bigger investors are from there.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: gentlemand on May 08, 2018, 02:02:16 PM

Quote from: jamesashmore1964 on May 08, 2018, 10:45:09 AM

If it closes below 8800 it will be ugly!
Yen is over 50 percent of volume!
We are at their mercy!

In all the trading threads I read I've genuinely never seen anyone looking to Japan for the next move. I assume it's not that easy for foreigners to get money in and out compared to other places.

They may have volume, they don't have the hearts and minds of traders elsewhere.

Don't they have zero trading commissions on many Japanese exchanges? I know Bitflyer.jp had no fees at some point. It might still not, I'm not sure.

I know a couple traders that always always watch the Bitflyer chart. I'd agree with them that Bitflyer leads sometimes, but not often enough that I particularly care. Same goes for Bithumb in Korea. At the end of the day, all charts reflect the same sentiment. Arbitrage (or the expectation of arbitrage) takes care of that.

Topic: Japanese run the BTC price! - page 2. (Read 465 times)