Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25482. (Read 26607502 times)
September 29, 2014, 07:01:20 PM
September 29, 2014, 06:57:18 PM
Even CoinDesk is now desperately trying to pump up the price.. 
www.coindesk.com/predicting-bitcoins-next-price-rise/
www.coindesk.com/predicting-bitcoins-next-price-rise/
From that article:
Quote
Other hypotheses have ranged [ ... ] to the even more unlikely explanation by the Wall Street Journal last week that Chinese citizens may be converting RMB to USD via offshore bitcoin trades.
In practice, [ ... ] converting out of RMB in the way that the WSJ reporters speculated would be impossible without Beijing officials noting the yawning gap in underlying yuan outflows on bitcoin exchanges, especially given how closely such activities are monitored on the mainland already.
In practice, [ ... ] converting out of RMB in the way that the WSJ reporters speculated would be impossible without Beijing officials noting the yawning gap in underlying yuan outflows on bitcoin exchanges, especially given how closely such activities are monitored on the mainland already.
Methinks Coindesk is confused here. If a Chinese citizen buys bitcoins from another Chinese citizen at OKCoin with yuan (=RMB,CNY), moves them to Bitstamp, and sells them to a Westerner for dollars, there is no yuan outflow. The yuan stay in China. The net effect, as far as the PBoC is concerned, is that some dollars in some Western bank become property of a Chinese citizen. That is good for China.
What the PBoC does not like is Chinese citizens taking too many yuan out China and exchanging them for dollars. That would allow foreign banks to accumulate yuan, and then presumably do bad things to Chinese economy, somehow.
(In the former scenario there is an outflow of bitcoins, but for the PBoC they are worthless nothings; if foreigners are willing to pay dollars for them, it is the Western governments' problem, not theirs.)
September 29, 2014, 06:56:33 PM
using interac online I get nicked with a 1.50$ deposit fee for 500 daily limit @ CaVirtEx ...would be interesting to see if Circle works via the same interac network and the fee structures for Canadian users.
September 29, 2014, 06:55:26 PM
expecting a price rise because LTC is holding steady... maybe $600 this time.
September 29, 2014, 06:42:50 PM
I think Adam was right about circle, looks like there's regular buys started on bitfinex.
I doubt that there have been very many buys on Circle.
I signed up for a circle account, and to verify my bank account will take 2-3 days.
Of course, I could buy immediately with a credit card, but I am NOT going to buy with a credit card b/c I am NOT going to take the chance of paying outrageous cash advance fees (which are likely through my CC).
Accordingly, IMHBO it will take a few days before the mass adoption of Circle will result in actual purchasing of coins.
I was able to link a debit card to my Circle account. I haven't made a purchase yet but I'm sure others have used this type of card successfully
Maybe you are correct? Maybe debit cards do NOT have fees? I never really thought about trying that... but if others do that, then, sure, that could cause some immediate buying.
September 29, 2014, 06:42:33 PM
...
well idk, looking at volume again now... hmm idk... wtv, if china ran 10% above stamps, stamps would fallow, and if stamps ran 10% lower then chain chain would fallow...
I take it back, they all follow each other...
Does my head in too well idk, looking at volume again now... hmm idk... wtv, if china ran 10% above stamps, stamps would fallow, and if stamps ran 10% lower then chain chain would fallow...
I take it back, they all follow each other...
Looks like they've found bottom though, guess it comes down to being able to move fiat out if that's the case 'cos I don't think that whale has much use for yuan.Usually bitstamp is dwarfed by the volume of the Asian exchanges, I mean it's easily explained by more 0% trading exchange in China. So my original statement of Huobi volume was that no1 made plays on the stamp move it somewhat followed perhaps arbitrage bots .. not really thinking too deeply atm.
I hate being so tinfoil hat mode that that I was about to be happy about seeing more chunks in 10s 20s the odd 50s then people buying 300+ btc chunks. Same people could just be buying in smaller chunks
I would like to believe small frys are taking bites in the cheaper prices.
September 29, 2014, 06:40:38 PM
I think we will see 320-350 before the weekend...circle came in rescue for today, otherwise we would've seen $350 easily.
you got it all wrong
dumps happened because circle came out and price did not immediately shoot to the moon.
well be at 410 by thursday...
September 29, 2014, 06:38:29 PM
I think we will see 320-350 before the weekend...circle came in rescue for today, otherwise we would've seen $350 easily.
September 29, 2014, 06:36:28 PM
I think Adam was right about circle, looks like there's regular buys started on bitfinex.
I doubt that there have been very many buys on Circle.
I signed up for a circle account, and to verify my bank account will take 2-3 days.
Of course, I could buy immediately with a credit card, but I am NOT going to buy with a credit card b/c I am NOT going to take the chance of paying outrageous cash advance fees (which are likely through my CC).
Accordingly, IMHBO it will take a few days before the mass adoption of Circle will result in actual purchasing of coins.
I was able to link a debit card to my Circle account. I haven't made a purchase yet but I'm sure others have used this type of card successfully
September 29, 2014, 06:32:11 PM
I think Adam was right about circle, looks like there's regular buys started on bitfinex.
I doubt that there have been very many buys on Circle.
I signed up for a circle account, and to verify my bank account will take 2-3 days.
Of course, I could buy immediately with a credit card, but I am NOT going to buy with a credit card b/c I am NOT going to take the chance of paying outrageous cash advance fees (which are likely through my CC).
Accordingly, IMHBO it will take a few days before the mass adoption of Circle will result in actual purchasing of coins.
September 29, 2014, 06:32:04 PM
Huobi slept right through the dumpage on stamp lol
Soaked it up mostly, there where big dumps there and okcoin.see no spikes on the volume charts at Huobi
this is what leads me to believe USD is leader, china my have more traders but they follow USD pricing, if not they would be the ones with volume spikes on big moves
well idk, looking at volume again now... hmm idk... wtv, if china ran 10% above stamps, stamps would fallow, and if stamps ran 10% lower then chain chain would fallow...
I take it back, they all follow each other...
September 29, 2014, 06:30:31 PM
I wonder if circle will deny low buy ins like Coinbase.
It would be epic for my price alert to flash less than $350 and I'm able to buy in 10 seconds. The ability to buy during flash crashes on Coinbase was near impossible.
It would be epic for my price alert to flash less than $350 and I'm able to buy in 10 seconds. The ability to buy during flash crashes on Coinbase was near impossible.
September 29, 2014, 06:30:06 PM
Ask yourself one question, why is finex bid side so populated with more than 12k coins down to $300. They want these coins cheaply with margin calls.
well, I can tell you that someone is placing those asks on stamp like a pro, and bitfinex guys have a history of dumping those margin calls through some advance non automatic procedures, like placing them as asks when and where they find it suitable.
maybe they are "evil manuplators"?
Dashboard
------------
Exchange 1 | Exchange 2 | Exchange 3 | Exchange 4
And for each of them buttons: Dump (size 1, 2 or 3), set random asks type 1, set random asks type 2, set random bids 1, set random bids 2, set wall x on y...
And then just few clicks and play the casino and the market goes the way you want.
it is pretty easy to do that if you have enough funds, yes. I am more worried about those practices happening with funds of their customers.
I dont trust them and I dont use them for that reason.
September 29, 2014, 06:26:21 PM
Huobi slept right through the dumpage on stamp lol
Soaked it up mostly, there where big dumps there and okcoin.see no spikes on the volume charts at Huobi
this is what leads me to believe USD is leader, china my have more traders but they follow USD pricing, if not they would be the ones with volume spikes on big moves
September 29, 2014, 06:24:49 PM
Dogecoin up or down?
looks like dogesh*t to me right now...no volume during this dumping
looks like dogesh*t to me right now...no volume during this dumping
September 29, 2014, 06:24:28 PM
It's all circle's fault!!!1
September 29, 2014, 06:24:06 PM
Huobi slept right through the dumpage on stamp lol
Soaked it up mostly, there where big dumps there and okcoin.see no spikes on the volume charts at Huobi
guess it was as you say soaked up in the regular volume.
September 29, 2014, 06:22:48 PM
Ask yourself one question, why is finex bid side so populated with more than 12k coins down to $300. They want these coins cheaply with margin calls.
well, I can tell you that someone is placing those asks on stamp like a pro, and bitfinex guys have a history of dumping those margin calls through some advance non automatic procedures, like placing them as asks when and where they find it suitable.
maybe they are "evil manuplators"?
Dashboard
------------
Exchange 1 | Exchange 2 | Exchange 3 | Exchange 4
And for each of them buttons: Dump (size 1, 2 or 3), set random asks type 1, set random asks type 2, set random bids 1, set random bids 2, set wall x on y...
And then just few clicks and play the casino and the market goes the way you want.
September 29, 2014, 06:21:44 PM
Ask yourself one question, why is finex bid side so populated with more than 12k coins down to $300. They want these coins cheaply with margin calls.
well, I can tell you that someone is placing those asks on stamp like a pro, and bitfinex guys have a history of dumping those margin calls through some advance non automatic procedures, like placing them as asks when and where they find it suitable.
maybe they are "evil manuplators"?
It's all fun and games til someone turns up and buys ten thousand coins.
September 29, 2014, 06:21:34 PM
Huobi slept right through the dumpage on stamp lol
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