Topic: Wall Observer BTC/USD - Bitcoin price movement tracking &amp; discussion - page 27051. (Read 26709629 times)

Quote from: ShroomsKit on June 25, 2014, 06:19:58 AM

I can't believe there are still people here who don't think this is because of the auction.
"Just normal market behaviour".

I believe it is because of the auction. You need to stop thinking people are rational, they are stupid! This is why auction has so much influence on price.

Here's the really stupid thing. The SR auction is about BITCOINS, and bitcoins only. Yet altcoins like Litecoin and other alts are being forced down by the whales too, causing people to panic for their beloved alts as well. Even Dodgecoin is being sold off, which has absolutely nothing to do with the SR auction.

I don't think this decrease has anything to do with the auction. I think it is actually about the Chinese news about a continued Chinese crackdown, which was released about the same time. This would account for the alt decrease as well.

You mean that there was bad news that just happens to coincide with other bad news on the exact same day? That's so strange, but yet so perfectly natural! Fabricated FUD never follows that pattern. /s

ShroomsKit

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Quote from: ShroomsKit on June 25, 2014, 06:19:58 AM

I can't believe there are still people here who don't think this is because of the auction.
"Just normal market behaviour".

I believe it is because of the auction. You need to stop thinking people are rational, they are stupid! This is why auction has so much influence on price.

Here's the really stupid thing. The SR auction is about BITCOINS, and bitcoins only. Yet altcoins like Litecoin and other alts are being forced down by the whales too, causing people to panic for their beloved alts as well. Even Dodgecoin is being sold off, which has absolutely nothing to do with the SR auction.

Yup. Bear whales jump on these situations like flies on shit. Sheep being in total fear is perfect for them. They can manipulate them in any way they want. You can hardly blame them either. It's too easy.

fonzie

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USS Bitcoin. INCOMING!

TERA

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Quote from: ShroomsKit on June 25, 2014, 06:19:58 AM

I can't believe there are still people here who don't think this is because of the auction.
"Just normal market behaviour".

I believe it is because of the auction. You need to stop thinking people are rational, they are stupid! This is why auction has so much influence on price.

Here's the really stupid thing. The SR auction is about BITCOINS, and bitcoins only. Yet altcoins like Litecoin and other alts are being forced down by the whales too, causing people to panic for their beloved alts as well. Even Dodgecoin is being sold off, which has absolutely nothing to do with the SR auction.

I don't think this decrease has anything to do with the auction. I think it is actually about the Chinese news about a continued Chinese crackdown, which was released about the same time. This would account for the alt decrease as well.

N12

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Quote from: ShroomsKit on June 25, 2014, 06:19:58 AM

I can't believe there are still people here who don't think this is because of the auction.
"Just normal market behaviour".

I believe it is because of the auction. You need to stop thinking people are rational, they are stupid! This is why auction has so much influence on price.

Here's the really stupid thing. The SR auction is about BITCOINS, and bitcoins only. Yet altcoins like Litecoin and other alts are being forced down by the whales too, causing people to panic for their beloved alts as well. Even Dodgecoin is being sold off, which has absolutely nothing to do with the SR auction.

Not that stupid if you consider that altcoins draw their source of dollars from Bitcoin almost exclusively. If Bitcoin shrinks, so do they.

Torque

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Quote from: ShroomsKit on June 25, 2014, 06:19:58 AM

I can't believe there are still people here who don't think this is because of the auction.
"Just normal market behaviour".

I believe it is because of the auction. You need to stop thinking people are rational, they are stupid! This is why auction has so much influence on price.

Here's the really stupid thing. The SR auction is about BITCOINS, and bitcoins only. Yet altcoins like Litecoin and other alts are being forced down by the whales too, causing people to panic for their beloved alts as well. Even Dogecoin is being sold off, which has absolutely nothing to do with the SR auction.

This is why I referred to the community as pathetic. My choice of adjective remains, until I observe otherwise. I guess I'll be waiting a decade or more. Tongue

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Quote from: Hunyadi on June 25, 2014, 06:16:39 AM

Quote from: JorgeStolfi on June 25, 2014, 06:11:02 AM

If I were bidding, I would bid well above market, in order to help the cause by fostering optimism. Unless I was bidding with MY money, in which case I would think a bit more carefully about the idea.

This is an excellent point!

But... my point actually was that rich people generally did not become rich by investing in worthy but unprofitable deals...

By the way, looking at the charts of Bitstamp, BTC-e, Bitfinex, Huobi, and OKCoin, side by side, it is absolutely obvious that China is still setting the price alone, and the "West" is merely trying to follow, with delay and hysteresis (because of their fees). OKCoin not only has a lot more volume, but makes 10-30 transactions, including maybe a couple of crashes and rallies, while Bitstamp barely makes one.

And the Chinese don't seem to care much about the SR auction, or about those Western businesses that are "accepting bitcoin" (actually, accepting dollars from the sale of bitcoins by believers who decided to unload some of their holdings).

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Quote from: tarmi on June 25, 2014, 06:50:39 AM

big red dildo incoming.

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Go go go stamp! Grin

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Quote from: Wandererfromthenorth on June 25, 2014, 06:48:08 AM

tarmi

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big red dildo incoming.

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Quote from: N12 on June 25, 2014, 06:46:39 AM

Quote from: TERA on June 25, 2014, 06:42:39 AM

Quote from: Wandererfromthenorth on June 25, 2014, 06:45:14 AM

Total sum of active swaps 26,134,755.35 USD

Don't those maniacs on Bitfinex ever decrease their margin positions, or do they just wait until they get liquidated? It's like a ticking time bomb.

For the past 6 months we've been in a sideways/down trend yet the swaps on bitfinex just keep growing and growing. There are now 500% as many swaps loaned out as there were at the PEAK of the rally at $1200. It's quite fishy actually. I wonder if bitfinex is operating as a fractional reserve now?

Not that I think it unlikely for any of the current exchanges to be a bunch of crooks, but what would be their incentive in pumping up this stat by introducing a fractional reserve? Fake money to pump up the price with?

I'm willing to believe it's real and there are just lots of crazy people who wait for the imminent bubble messiah and bet the farm. After all, the "bubble watch" on r/bitcoinmarkets said so. In any case, it certainly is a whole lot of money if we just consider that it's half of what MtGox (supposedly, anyway) had at its peak.

Also to increase the trading volume and collect more fees.

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Quote from: ShroomsKit on June 25, 2014, 06:39:23 AM

Quote from: Wandererfromthenorth on June 25, 2014, 06:35:54 AM

Quote from: ShroomsKit on June 25, 2014, 06:32:02 AM

I see it's tour de trolls again. We go down a few dollars and they pop up left and right.
What a sad fucking life.

Dude, it's not about a bunch of dollars, it's about BTC breaking that long term trend which never happened before and on low volume on top of that.

Uh ok, if a line is so important to you then i suggest selling your coins.

A line that was able to predict with almost 100 accuracy the most important points of the graph (340 bottom, apparent trend reversal from 450 to 680, and last bounce at 540). That line IS important.

Then this obviously is the end of Bitcoin and you should sell asap.
If you don't sell it means you don't really believe that line is so important.
So what is it gonna be?

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Quote from: TERA on June 25, 2014, 06:42:39 AM

For the past 6 months we've been in a sideways/down trend yet the swaps on bitfinex just keep growing and growing. There are now 500% as many swaps loaned out as there were at the PEAK of the rally at $1200. It's quite fishy actually. I wonder if bitfinex is operating as a fractional reserve now?

Or taking real money loaned out by depositors, and then reloaning themselves to leveraged long traders at double the rate or whatever? Not quite fractional reserve, but will certainly increase the volume of swap rates by a whole lot?

N12

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Quote from: TERA on June 25, 2014, 06:42:39 AM

Quote from: ShroomsKit on June 25, 2014, 06:39:23 AM

Total sum of active swaps 26,134,755.35 USD

Don't those maniacs on Bitfinex ever decrease their margin positions, or do they just wait until they get liquidated? It's like a ticking time bomb.

For the past 6 months we've been in a sideways/down trend yet the swaps on bitfinex just keep growing and growing. There are now 500% as many swaps loaned out as there were at the PEAK of the rally at $1200. It's quite fishy actually. I wonder if bitfinex is operating as a fractional reserve now?

Not that I think it unlikely for any of the current exchanges to be a bunch of crooks, but what would be their incentive in pumping up this stat by introducing a fractional reserve? Fake money to pump up the price with?

I'm willing to believe it's real and there are just lots of crazy people who wait for the imminent bubble messiah and bet the farm. After all, the "bubble watch" on r/bitcoinmarkets said so. In any case, it certainly is a whole lot of money if we just consider that it's half of what MtGox (supposedly, anyway) had at its peak.

Wandererfromthenorth

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Quote from: Wandererfromthenorth on June 25, 2014, 06:35:54 AM

Quote from: ShroomsKit on June 25, 2014, 06:32:02 AM

I see it's tour de trolls again. We go down a few dollars and they pop up left and right.
What a sad fucking life.

Dude, it's not about a bunch of dollars, it's about BTC breaking that long term trend which never happened before and on low volume on top of that.

Uh ok, if a line is so important to you then i suggest selling your coins.

A line that was able to predict with almost 100 accuracy the most important points of the graph (340 bottom, apparent trend reversal from 450 to 680, and last bounce at 540). That line IS important.

TERA

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Quote from: Wandererfromthenorth on June 25, 2014, 06:35:54 AM

Total sum of active swaps 26,134,755.35 USD

Don't those maniacs on Bitfinex ever decrease their margin positions, or do they just wait until they get liquidated? It's like a ticking time bomb.

For the past 6 months we've been in a sideways/down trend yet the swaps on bitfinex just keep growing and growing. There are now 500% as many swaps loaned out as there were at the PEAK of the rally at $1200. It's quite fishy actually. I wonder if bitfinex is operating as a fractional reserve now?

ShroomsKit

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Quote from: ShroomsKit on June 25, 2014, 06:32:02 AM

I see it's tour de trolls again. We go down a few dollars and they pop up left and right.
What a sad fucking life.

Dude, it's not about a bunch of dollars, it's about BTC breaking that long term trend which never happened before and on low volume on top of that.

Uh ok, if a line is so important to you then i suggest selling your coins.

MatTheCat

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