Coin
Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22542. (Read 26607582 times)
March 08, 2015, 08:59:23 AM
March 08, 2015, 08:45:08 AM
I'm amazed at how people take triangles on charts seriously.
It's like trying to predict the speed of a vehicle based on watching its speedometer continuously whilst ignoring the actual terrain that it's on.
edit: I feel a bit troll-y for saying that, but....seriously folks.
It's like trying to predict the speed of a vehicle based on watching its speedometer continuously whilst ignoring the actual terrain that it's on.
edit: I feel a bit troll-y for saying that, but....seriously folks.
Maybe if enough people are adhering to their wonderful squiggly lines it becomes something of a self fulfilling prophecy. I myself regard it all as a heap of shit. The lines do not account for things that happen in the real world.
considering one could easily makes a bearish line turns into a bullish one(see a post some posts above) I think the lines aren't even useful for making a self fulfilled prophecy
March 08, 2015, 08:33:00 AM
Are we going to 300 soon?
im just glad we are not moving backward to 233
Sell at 280's -290's buy back at 230's many have done the same is see, it is a traaaaaaap
March 08, 2015, 08:32:18 AM
Maybe if enough people are adhering to their wonderful squiggly lines it becomes something of a self fulfilling prophecy.
It does. 
March 08, 2015, 08:23:44 AM
I'm amazed at how people take triangles on charts seriously.
It's like trying to predict the speed of a vehicle based on watching its speedometer continuously whilst ignoring the actual terrain that it's on.
edit: I feel a bit troll-y for saying that, but....seriously folks.
It's like trying to predict the speed of a vehicle based on watching its speedometer continuously whilst ignoring the actual terrain that it's on.
edit: I feel a bit troll-y for saying that, but....seriously folks.
Maybe if enough people are adhering to their wonderful squiggly lines it becomes something of a self fulfilling prophecy. I myself regard it all as a heap of shit. The lines do not account for things that happen in the real world.
March 08, 2015, 08:10:53 AM
I'm amazed at how people take triangles on charts seriously.
It's like trying to predict the speed of a vehicle based by watching its speedometer continuously whilst ignoring the actual terrain that it's on.
edit: I feel a bit troll-y for saying that, but....seriously folks.
It's like trying to predict the speed of a vehicle based by watching its speedometer continuously whilst ignoring the actual terrain that it's on.
edit: I feel a bit troll-y for saying that, but....seriously folks.
March 08, 2015, 08:06:10 AM
I'm skeptical about comparing zero fee volume to non-zero fee volume.
To be clear: for short to mid term trading purposes, I absolutely don't doubt the relevance of CNY volume.
But for the longer term view of market volume, in my opinion, the "costly" volume of the three big USD exchanges is a good measure of how much money is "flowing into the market". (Sidenote: I really need to include Coinbase from now on)
That said, I know just discarding CNY (or permanently zero-fee USD) volume is not ideal. I have been trying to come up with ways to 'discount' the Chinese volume by some factor to make it comparable, but nothing ever really came out of it that looked satisfying to me.
To be clear: for short to mid term trading purposes, I absolutely don't doubt the relevance of CNY volume.
But for the longer term view of market volume, in my opinion, the "costly" volume of the three big USD exchanges is a good measure of how much money is "flowing into the market". (Sidenote: I really need to include Coinbase from now on)
That said, I know just discarding CNY (or permanently zero-fee USD) volume is not ideal. I have been trying to come up with ways to 'discount' the Chinese volume by some factor to make it comparable, but nothing ever really came out of it that looked satisfying to me.
Is there a relation between exchange volume and the amount of money coming into the system (or being drained from it)? Volume is generally up when the price is changing, up or down; and that may be cause and effect at the same time. But figuring ot the net input money flow seems to be a complicated computation at least...
I would think that, in China, money is steadily leaving the system: Chinese traders seem to be gradually selling and taking their cash out of the exchanges. This feeling is not based on the exchange volumes, but simply becuse of the decay of the China bubble (which seems to be too fast to be due to miner dumping alone). The rest of the world should still be a net buyer, but there is no data, really, and apparently it can barely absorb what the Chinese and the miners are selling.
There is no "money" entering nor leaving the bitcoin system. Bitcoin is money, so is USD, CNY etc. What happens is that value moves from one money system to another. When the revaluation of money system is not the same in all actors' minds, there has to be trades. If all actors at the same time and to the same degree change their valuations, there need not be many trades.
Well, I disagree with that assertion.
Except for the chosen few that already (completely and honestly) think of profits in this market in terms of this market's underlying asset, the most common measure of profits (or losses) is in terms of your national fiat currency of choice.
Practically, this means you might withdraw USD profits from an exchange in case you feel like "cashing out", or, if you have money to spare, and feel the price is right, you "cash in" by wiring money into an exchange. This will either remove USD from or add USD to the market.
My claim that some types of trading volume are indicative of this flow in and out of the exchanges is obviously up for debate, but questioning the above process itself I find rather silly. Price per coin is not only determined, on the demand side, by what USD holders on the exchanges are willing to pay per coin, but also by how USD balances on the exchanges are changing over time.
If you don't want to call this process "money entering or leaving", fine, but I'd say you're semantics lawyering now, not really saying anything descriptively interesting.
March 08, 2015, 07:59:24 AM
wHERE'S MY MOTHERFUCKING sATURDAY NIGHT DISCOUNT??
273/coins while midweek prices reached above 280.
Here is your discount
March 08, 2015, 07:59:16 AM
March 08, 2015, 07:52:51 AM
[...]
Maybe I should have drawn a bullish pennant instead?
[...]
Maybe I should have drawn a bullish pennant instead?
[...]
The beauty of TA...
March 08, 2015, 07:49:25 AM
The OKCoin triangle will break in some hours.
OK, the triangle turned out to be boring.
Maybe I should have drawn a bullish pennant instead?
This being bitcoin a bullish pennant might crash.
March 08, 2015, 07:43:17 AM
Looking to buy another handful of coins. Expect dump immediately after.
March 08, 2015, 07:40:23 AM
Dump is getting late to the party, makes me wonder if it will happen at all, and I'll go to sleep soon anyway.
It is happening.it is not.
Still up 270 last time I checked(around 2 seconds ago)
March 08, 2015, 07:06:31 AM
Come on. Hit me baby one more time, lol. Need to buy MOAR
http://www.dailymotion.com/video/xhw89_britney-hit-me-baby-one-more-time_news
http://www.dailymotion.com/video/xhw89_britney-hit-me-baby-one-more-time_news
March 08, 2015, 06:59:15 AM
March 08, 2015, 05:59:16 AM
March 08, 2015, 05:57:56 AM
Dump is getting late to the party, makes me wonder if it will happen at all, and I'll go to sleep soon anyway.
It is happening. March 08, 2015, 04:59:17 AM
March 08, 2015, 04:21:27 AM
Are we going to 300 soon?
im just glad we are not moving backward to 233
you mean 275
March 08, 2015, 03:59:21 AM
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