Topic: Someone is Jobbing this Market - page 3. (Read 7249 times)
Batten down the hatches, there's a storm brewing for the weekend.
The trading in BTC is characteristically volatile, too much so, but for the past three days there are huge blocks of BTC swirling around the globe and the market is flat, not range bound but outright absolutely flat. Who thinks this is normal? This to me is impossible (considering standard volitility) without large manipulation. We want a more stable market but this is flat lining, "the patient is now dead" price action is also dysfunctional for BTC. Too many questions, too much weirdness, not a natural market.
Someone is always jobbing a market, that's what markets do. Get jobbed. Either by the biggest fish in the sea or by the government or regulatory body.
If you are looking for a "free market" keep looking. Let me know if you find one by the way, I'd love to see a mythological creature.
I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.
See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours
http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.
See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours
http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.
Just a guess, but probably people freaking out about their own personal security measures after the heist. Whether they're sending to wallet services, or to wallet files on thumbdrives, doesn't matter. It's probably nothing more than people sending money to themselves in various ways.
I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.
See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours
http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.
See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours
http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.
Just a guess, but probably people freaking out about their own personal security measures after the heist. Whether they're sending to wallet services, or to wallet files on thumbdrives, doesn't matter. It's probably nothing more than people sending money to themselves in various ways.
Sending from address A to address B makes sense under your umbrella.
Sending from address A to address B and back to address A, paying 50 something BTC on a ~9k transaction as an actual example, doesn't. At all.
At all.
I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.
See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours
http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.
See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours
http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.
Just a guess, but probably people freaking out about their own personal security measures after the heist. Whether they're sending to wallet services, or to wallet files on thumbdrives, doesn't matter. It's probably nothing more than people sending money to themselves in various ways.
I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.
See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours
http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.
See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours
http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.
I though so to, but there is always some kind of drift in a range, In my years (looking at 10's thousands of charts) Ive never seen a flat lining effect like this after such a huge range of trade.
^^ This
Its really sad when uninformed people abuse the word manipulation because they don't understand some basic fundamentals about a market (any market).
Please, teach us what these "basic fundamentals" are as relates to the BTC market...
...please, do.
It's not going up because it still is overpriced after the huge rise. Probably it will go down again soon, don't worry.
I don't feel sorry for all people who saw Bruce Wagners "foot of a hockey stick" chart and believed they will get immensly rich in two weeks.
You are suckers.
I don't feel sorry for all people who saw Bruce Wagners "foot of a hockey stick" chart and believed they will get immensly rich in two weeks.
You are suckers.
Maybe the world is not ready for a free market. They shout manipulation and speculation when prices rise quickly. They shout manipulation and nefariousness when prices fall quickly. And when prices stay flat? Manipulation, it must be!
I'll propose an alternative theory = Bitcoin is brand new, and will be extremely volatile and unpredictable for a long time. Part of true volatility is the 2nd order - even the volatility itself will be volatile! Stop obsessing with charts.
The monetary concept of Bitcoin is solid. So, too, is the technology. Given this, if you believe in Bitcoin go out and build businesses around it. Buy with it, sell with it, and trade with it. Stop worrying if the short-term dollar/btc exchange rate is not precisely where you think it should be. Let free markets be free, and enjoy the freedom, tumultuous (or flat) as it is.
I'll propose an alternative theory = Bitcoin is brand new, and will be extremely volatile and unpredictable for a long time. Part of true volatility is the 2nd order - even the volatility itself will be volatile! Stop obsessing with charts.
The monetary concept of Bitcoin is solid. So, too, is the technology. Given this, if you believe in Bitcoin go out and build businesses around it. Buy with it, sell with it, and trade with it. Stop worrying if the short-term dollar/btc exchange rate is not precisely where you think it should be. Let free markets be free, and enjoy the freedom, tumultuous (or flat) as it is.
This kind of stable market has happened many times before in short time frames . Now if it is this stable still in July I would start to wonder what's up.
The trading in BTC is characteristically volatile, too much so, but for the past three days there are huge blocks of BTC swirling around the globe and the market is flat, not range bound but outright absolutely flat. Who thinks this is normal? This to me is impossible (considering standard volitility) without large manipulation. We want a more stable market but this is flat lining, "the patient is now dead" price action is also dysfunctional for BTC. Too many questions, too much weirdness, not a natural market.
You are the same person who also claimed:
It was artificial when there was a rally, then when the correction came it was also artificial and most recently you claimed to be hacked.
NO
Obvious manipulation is obvious. We need more exchanges. Why don't people use bitcoin-central.net? It is the only exchange for which we have the source, so that we can see that it isn't a pile of shit, like bitcoin7 or whatever it is called.
https://bitcoinconsultancy.com/wiki/index.php/Intersango
Which runs Britcoin.
I suspect it's just someone trying to sell a lot of coins for around $20. The market naturally wants to keep going up as it has been for the past few months, but it can't pass $20 with this entity trying to unload some huge number of coins. Eventually the coins will all be sold and the price will continue to rise.
Its really sad when uninformed people abuse the word manipulation because they don't understand some basic fundamentals about a market (any market).
I'm also convinced there is some kind of manipulation going on. Can't make any sense of it, so i'm quitting while i'm ahead.
The sane thing could be said about the silver market for the past month or so...
Obvious manipulation is obvious. We need more exchanges. Why don't people use bitcoin-central.net? It is the only exchange for which we have the source, so that we can see that it isn't a pile of shit, like bitcoin7 or whatever it is called.
More liquidity!
More liquidity!
Not nearly paranoid enough, don't you know where you are? 
Your post does actually sound very reasonable. I can also see the psychological barrier of $20 being a pretty natural one.
Your post does actually sound very reasonable. I can also see the psychological barrier of $20 being a pretty natural one.
It's simply the low volume. Look at the chart, whenever there was low volume, there was flatlining.
The reality is that there are almost no traders, which would move the market based on incoming new information. Keep in mind that transaction costs are pretty high on MtGox. All the big up moves are caused by new people getting into Bitcoin, and all big down moves are caused by early miners cashing out.
The reality is that there are almost no traders, which would move the market based on incoming new information. Keep in mind that transaction costs are pretty high on MtGox. All the big up moves are caused by new people getting into Bitcoin, and all big down moves are caused by early miners cashing out.
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