Author

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20855. (Read 26608336 times)

legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
So Bitstamp is now also faking volume?

What's your evidence?  Is this pure FUD spreading disinformation?

Haven't you noticed the 49.99 buy and sell for weeks now? Obviously irrational trading which points to it being an inhouse bot run at stamp to pump up volume. Why shouldn't they do it? The chinese exchanges have been doing it for years.

I guess that I do NOT follow that closely.

Can you explain a little more about how the 49.99 works?

Is the 49.99 on the books?   Are you referring to dollar value or bitcoins? 

how often is the 49.99 trading?  Where can you see this play out? 

There can also be bots that are run outside (so a bot does NOT have to be an inside job).  Accordingly, what would be your evidence that this particular bot (or trading pattern) is based on inside manipulation?

I do understand the motive to some extent but getting caught remains a very big blow to credibility, so I doubt that a big exchange like bitstamp that is rising in credibility would want to jeopardize its credibility based in a way in which they could fairly easily get caught.

legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1092
Merit: 1000
bitfinex longs are climbing real good now .. we're not messing around anymore.. nothing can stop us now!

Buying now is risky. Buying now using leverage is insane. Barring small liquidity spikes, we're not going up until the block size thing is resolved months from now if ever. These longs have no money behind them or they wouldn't have to use leverage and pay the vig. What's worse, not nearly enough shorts to halt another flash crash when they cover. It's not looking good.


sounds about right.. i don't know anything though about how shorts stop a flash crash if longs cover. however, more rumors coming from BFX is obviously not good. as long as there are strange things going on at BFX i wont be chasing the price buying into any pumps.
hero member
Activity: 545
Merit: 500
So Bitstamp is now also faking volume?

What's your evidence?  Is this pure FUD spreading disinformation?

Haven't you noticed the 49.99 buy and sell for weeks now? Obviously irrational trading which points to it being an inhouse bot run at stamp to pump up volume. Why shouldn't they do it? The chinese exchanges have been doing it for years.
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC

Thanks, but what a bunch of morons in that thread.
I only read retarded opinions which prove nothing.

Why would satoshi prove himself to be real for a bunch of idiots? I would do exactly the same if I was Satoshi, including not spending my coins... Again this system (bitcoin) is worth below zero it only functions with him.
Just like kids. You can't keep raising them after adulthood. You need to let it go.
Knowing this, there is no other benefit for him to sign a message other than satisfying his ego and become a very famous man again, a man who would be even more unable to distance himself from bitcoin again.


Don't really disagree that much with what you say, just wonder why he would break silence at all with such an unconvincing message. Especially now that we see that it hasn't united the community. Why not join the conversation? At the very least we wouldn't have to deal with the endless "that's not what Satoshi intended"-discussions.

To be honest I would prefer it if there were no legendary "Satoshi Nakamoto" and that we had a face to the name instead. All this hallelujah crap is getting in the way.
legendary
Activity: 1092
Merit: 1000
So Bitstamp is now also faking volume?
They don't need to fake anything.They are the new biggest western exchange thanks to Bitfinex's gross incompetence.
Speaking of Bitfinex, I received an e-mail from them:

Dear user: [Redacted]

After careful review of the trading activity in your account in and around our service disruption on August 25th, 2015, we have identified a discrepancy between your trade history and how those trades were booked to your account.  In most cases the discrepancy is a result of trades being double booked to your account.  In order to bring your account balance inline with your trade history, we need to put two adjusting entries to reflect a change of -xx.xxx BTC at an average price of 224.38.  Unfortunately, this adjustment will result an a negative currency in your trading wallet.  Please move funds between wallets or deposit additional to satisfy this adjustment.  If the negative balance still persist in 24 hours, we will make the adjustment ourselves to eliminate the negative balance.  We sincerely apologize for the inconvenience and will be additionally crediting back your trading fees during the affected period 15:00:00 UTC to 21:00:00 UTC.  Please do not hesitate to contact us with any questions.


After I got all my funds out from them, now they want me to move them back in to fix a negative balance issue in my trade balance?
For a second time??? (I already had negative balance before I left them witch got "resolved" by deducting said negative balance from my btc deposit).Still waiting for their mail to clarify wtf is going on over there.  


someone mentioned that on redit too: https://www.reddit.com/r/BitcoinMarkets/comments/3jg6kr/daily_discussion_thursday_september_03_2015/

i hate to point out the obvious...but... if your code didnt have glitches then you wouldnt need to send emails out to adjust peoples accounts like that. reading about this makes me believe we have an insolvent exchange problem on our hands. just saying .
full member
Activity: 177
Merit: 100


Let them keep their negative balance and move on  Cheesy

What's really scary is that they still hold $23.6 mil in active long positions. Wonder for how long though..
I mean BTC-e has bigger volume than them right now, FFS.

legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
So what's this weeks high going to be $229.50? Or should we shoot for the moon and predict $230.25. lol
Cheesy

well we just saw some strong volume on the hourly, things might get interesting and we might be pushing 235 pretty soon! or 225 again  Sad

For about the last hour I have been watching a baby wall of about 150 BTC get eaten down on BTCe to around 100BTC at $222.50. 

BTCe has had pretty consistent and relatively high volume for the past 12 hours.... what is brewing in Bitcoinlandia?  anyone know?
sr. member
Activity: 434
Merit: 250
So Bitstamp is now also faking volume?
They don't need to fake anything.They are the new biggest western exchange thanks to Bitfinex's gross incompetence.
Speaking of Bitfinex, I received an e-mail from them:

Dear user: [Redacted]

After careful review of the trading activity in your account in and around our service disruption on August 25th, 2015, we have identified a discrepancy between your trade history and how those trades were booked to your account.  In most cases the discrepancy is a result of trades being double booked to your account.  In order to bring your account balance inline with your trade history, we need to put two adjusting entries to reflect a change of -xx.xxx BTC at an average price of 224.38.  Unfortunately, this adjustment will result an a negative currency in your trading wallet.  Please move funds between wallets or deposit additional to satisfy this adjustment.  If the negative balance still persist in 24 hours, we will make the adjustment ourselves to eliminate the negative balance.  We sincerely apologize for the inconvenience and will be additionally crediting back your trading fees during the affected period 15:00:00 UTC to 21:00:00 UTC.  Please do not hesitate to contact us with any questions.


After I got all my funds out from them, now they want me to move them back in to fix a negative balance issue in my trade balance?
For a second time??? (I already had negative balance before I left them witch got "resolved" by deducting said negative balance from my btc deposit).Still waiting for their mail to clarify wtf is going on over there.  

Let them keep their negative balance and move on  Cheesy
legendary
Activity: 1106
Merit: 1007
Hide your women
bitfinex longs are climbing real good now .. we're not messing around anymore.. nothing can stop us now!

Buying now is risky. Buying now using leverage is insane. Barring small liquidity spikes, we're not going up until the block size thing is resolved months from now if ever. These longs have no money behind them or they wouldn't have to use leverage and pay the vig. What's worse, not nearly enough shorts to halt another flash crash when they cover. It's not looking good.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
hero member
Activity: 798
Merit: 1000
So Bitstamp is now also faking volume?

What's your evidence?  Is this pure FUD spreading disinformation?



lets fud the market like its 1999 ..

No idea if FUD or not (probably), but it is intersting to note that Stamp is doing more volume on this sideways move than BFX. I can think of 2 legitimate reasons

1) BFX did not go with BitLicense, Stamp did - perhaps that appeals to some, or is necessary if they are NY based
2) OKCoin not accepting US customers at the moment - perhaps some have moved to Stamp (possibly connected to the above)

Not ready to call foul at all yet, but I have noticed the change and am wondering why ...

EDIT: 3) Recent and ongoing problems with BFX trading engine is another good reason why some may have switched
full member
Activity: 177
Merit: 100
So Bitstamp is now also faking volume?
They don't need to fake anything.They are the new biggest western exchange thanks to Bitfinex's gross incompetence.
Speaking of Bitfinex, I received an e-mail from them:

Dear user: [Redacted]

After careful review of the trading activity in your account in and around our service disruption on August 25th, 2015, we have identified a discrepancy between your trade history and how those trades were booked to your account.  In most cases the discrepancy is a result of trades being double booked to your account.  In order to bring your account balance inline with your trade history, we need to put two adjusting entries to reflect a change of -xx.xxx BTC at an average price of 224.38.  Unfortunately, this adjustment will result an a negative currency in your trading wallet.  Please move funds between wallets or deposit additional to satisfy this adjustment.  If the negative balance still persist in 24 hours, we will make the adjustment ourselves to eliminate the negative balance.  We sincerely apologize for the inconvenience and will be additionally crediting back your trading fees during the affected period 15:00:00 UTC to 21:00:00 UTC.  Please do not hesitate to contact us with any questions.


After I got all my funds out from them, now they want me to move them back in to fix a negative balance issue in my trade balance?
For a second time??? (I already had negative balance before I left them witch got "resolved" by deducting said negative balance from my btc deposit).Still waiting for their mail to clarify wtf is going on over there.  
legendary
Activity: 1498
Merit: 1000
legendary
Activity: 1092
Merit: 1000
So Bitstamp is now also faking volume?

What's your evidence?  Is this pure FUD spreading disinformation?



lets fud the market like its 1999 ..
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
So Bitstamp is now also faking volume?

What's your evidence?  Is this pure FUD spreading disinformation?
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
Again, it is possible that the devs do not see how wrong that argument is?

The max block size that was put into the rules in 2010 was not "1 MB" but "a value small enough to prevent big-block attack but still much larger than traffic so that it would not create spurious scarcity, and every transaction would be confirmed as quickly as possible.

Can you provide source for this or did you just make it up?

For example, there are these comments by Satoshi on 2010-10-03, when the block size limit had already been lowered to 1 MB.  Jeff Garzik had proposed a patch that would raise the max block size to 7.16 MB, so that bitcoin would be able to handle PayPal's average traffic at the time:

Don't use this patch, it'll make you incompatible with the network, to your own detriment.
We can phase in a change later if we get closer to needing it.

It can be phased in, like:

if (blocknumber > 115000)
    maxblocksize = largerlimit

It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete.  When we're near the cutoff block number, I can put an alert to old versions to make sure they know they have to upgrade.

Up to that date, the traffic had been less than 1800 tx/day on average (today it is 120'000 tx/day), which means ~7 kB per block (today it is ~450 kB/block). 

With 1 MB max size limit, the capacity at the time was the same as today, ~200'000 tx/day or ~750 kB/block.  (It is less than 1 MB/block because certain optimizations by the miners force them to mine some number of empty blocks). 

So, by setting the max block size to 1 MB, the devs at the time set the capacity to about 110 times the demand.  Obviously the intent was not to create "capacity scarcity", any time soon...

But today the capacity is only ~65% more than the demand.

There is NO evidence that the centralization of mining that happened so far was due to the natural growth in the block sizes, or that such growth would affect it in the foreseeable future.  That is just one of several dishonest FUD arguments that Adam Back used at one point.  The economies of scale that resulted in concentration of mining are due to the savings in the costs of equipment, space, electricity, cooling, personnel, management, etc.  that exist  for bulk purchasers and for certain geographic locations. 

You are again completely fabricating a straw man...? That's absolutely not what I'm saying and I don't believe I've ever read anything of the sort by Adam.

As for increasing block size having an effect on mining centralization if we do not proceed carefully and by increments there are several technical aspects that can lead to this conclusion.

Sorry, the "That" in my quote is not the previous phrase, that you bolded, but the claim that I was replying to: that increasing the block size would lead to increased mining centralization.  That is one of several baseless claims that Adam made (after "increasing the block size limit will cause the number of full nodes to decrease").

My reply in bold is that mining already got centralized over the last 2-3 years; but the causes of the centralization are well understood, and growth of the traffic was not among them.  Those causes will continue for the foreseeable future, and keeping or raising the block size limit will make no difference for mining centralization.

maybe you can argue its less decentralized then it was 3 years ago, but you can't say mining is centralized. is there 1 central place everyone does there minning? nope. there are several pool and lots of solo mining by totally independent entities.

but you're totally right when you say the current mining landscape wouldn't at all be affected by a block increas.

that argument is complete BS.

hero member
Activity: 910
Merit: 1003
Again, it is possible that the devs do not see how wrong that argument is?

The max block size that was put into the rules in 2010 was not "1 MB" but "a value small enough to prevent big-block attack but still much larger than traffic so that it would not create spurious scarcity, and every transaction would be confirmed as quickly as possible.

Can you provide source for this or did you just make it up?

For example, there are these comments by Satoshi on 2010-10-03, when the block size limit had already been lowered to 1 MB.  Jeff Garzik had proposed a patch that would raise the max block size to 7.16 MB, so that bitcoin would be able to handle PayPal's average traffic at the time:

Don't use this patch, it'll make you incompatible with the network, to your own detriment.
We can phase in a change later if we get closer to needing it.

It can be phased in, like:

if (blocknumber > 115000)
    maxblocksize = largerlimit

It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete.  When we're near the cutoff block number, I can put an alert to old versions to make sure they know they have to upgrade.

Up to that date, the traffic had been less than 1800 tx/day on average (today it is 120'000 tx/day), which means ~7 kB per block (today it is ~450 kB/block). 

With 1 MB max size limit, the capacity at the time was the same as today, ~200'000 tx/day or ~750 kB/block.  (It is less than 1 MB/block because certain optimizations by the miners force them to mine some number of empty blocks). 

So, by setting the max block size to 1 MB, the devs at the time set the capacity to about 110 times the demand.  Obviously the intent was not to create "capacity scarcity", any time soon...

But today the capacity is only ~65% more than the demand.

There is NO evidence that the centralization of mining that happened so far was due to the natural growth in the block sizes, or that such growth would affect it in the foreseeable future.  That is just one of several dishonest FUD arguments that Adam Back used at one point.  The economies of scale that resulted in concentration of mining are due to the savings in the costs of equipment, space, electricity, cooling, personnel, management, etc.  that exist  for bulk purchasers and for certain geographic locations. 

You are again completely fabricating a straw man...? That's absolutely not what I'm saying and I don't believe I've ever read anything of the sort by Adam.

As for increasing block size having an effect on mining centralization if we do not proceed carefully and by increments there are several technical aspects that can lead to this conclusion.

Sorry, the "That" in my quote is not the previous phrase, that you bolded, but the claim that I was replying to: that increasing the block size would lead to increased mining centralization.  That is one of several baseless claims that Adam made (after "increasing the block size limit will cause the number of full nodes to decrease").

My reply in bold is that mining already got centralized over the last 2-3 years; but the causes of the centralization are well understood, and growth of the traffic was not among them.  Those causes will continue for the foreseeable future, and keeping or raising the block size limit will make no difference for mining centralization.
sr. member
Activity: 448
Merit: 256
So Bitstamp is now also faking volume?
Jump to: