Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29258.

chriswilmer

legendary

Activity: 1008

Merit: 1000

Quote from: EuroTrash on March 02, 2014, 07:00:11 PM

Wow. Someone slammed on that market buy button pretty hard.

I like to imagine a panicked, anxious trader... finally capitulating and deciding to sell all of his remaining bitcoins... so that he can pay off some accumulating debts. However, in his state of clouded judgement and jitters, he hits "market buy" instead of "market sell" and all of his remaining fiat get turned into bitcoins. Since there was no wall to buy into, the price jumps by $10... and some speculators posts on forums about a huge buy order. "Buy order?" "Buying?" "Buy" "BUY" "BUY!!!!" "CCMF WE"RE GOING TO THE MOON" they post. An enormous rally begins.

The previously panicked trader, realizing what happened, decides to capitalize on the moment the only way he knows how.

He logs into Bitcointalk.org and posts, "I totally called the bottom."

Dragonkiller

sr. member

Activity: 378

Merit: 250

Super Smash Bros. Ultimate Available Now!

Quote from: smiley123 on March 02, 2014, 07:09:24 PM

Maybe his Monday Fiat arrived.

not possible

cee-euros

member

Activity: 88

Merit: 10

went away for a few minutes and things went mental,
who started it?

adsdas

sr. member

Activity: 337

Merit: 250

https://streamies.io/

To the moon!

smiley123

member

Activity: 101

Merit: 10

Maybe his Monday Fiat arrived.

Tyson95

full member

Activity: 166

Merit: 100

Quote from: MAbtc on March 02, 2014, 07:06:41 PM

1500 bid wall at $563. Hmmm.

Yeah this will get interesting

EuroTrash

hero member

Activity: 728

Merit: 500

Fucksake why does all exciting stuff happen while I am supposed to be sleeping?

MAbtc

hero member

Activity: 826

Merit: 508

1500 bid wall at $563. Hmmm.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Well somebody is buying.

EuroTrash

hero member

Activity: 728

Merit: 500

Wow. Someone slammed on that market buy button pretty hard.

Loozik

sr. member

Activity: 378

Merit: 250

Born to chew bubble gum and kick ass

Quote from: solex on March 02, 2014, 06:56:17 PM

The 2011 crash proved that the market is far bigger than any one player. The price went from <$1 to $30 very fast and corrected in a steady downtrend. MtGox was then compromised (apparently via accountant's login) and the order book sold down to zero. This caused volatility and gox closed for 8 days while accounts were restored. The market continued the downtrend from where it was before the gox problem.

It was a badly executed flashcrash by the market maker.

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

Quote from: HairyMaclairy on March 02, 2014, 06:24:21 PM

Can someone give me a brief background on the 2011 crash? Was it just a hack of Gox driving the price from $30 to $2 over an extended period?

The 2011 crash proved that the market is far bigger than any one player. The price went from <$1 to $30 very fast and corrected in a steady downtrend. MtGox was then compromised (apparently via accountant's login) and the order book sold down to zero. This caused volatility and gox closed for 8 days while accounts were restored. After gox came back he market continued the downtrend from where it was before the gox problem occurred.

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: ?? on ??

stable price is not a good time for day traders, thats why I started to gamble and invest in all those ponzie schemes. Call me crazy but at the begining I lost a bit but I've made 1 BTC profit already. At the moment http://ponzicoin.co/ is the most stable and profitable ponzie and if I were you I would invest there, small amount just for fun.

Avoid the ponzis, I've made over100% in 24hrs trading fake Gox Bucks over at https://www.bitcoinbuilder.com/

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: KFR on March 02, 2014, 05:54:04 PM

Just not true. Serious academics shouldn't make such statements - baseless assumptions that a couple of minutes of research would completely debunk.
http://antonopoulos.com/2014/02/25/coinbase-review/

Thanks for the link.

Right, and I forgot also that Roger Ver did a similar audit of MtGOX and certified that they were fully solvent. Wink

For over 10 years I have been explaining to people down here that is a fully-digital voting machine prints the total votes in two different formats, and the printouts match, it does not follow that the totals are correct. Most people understadn that, unfortunately not the people who are in charge of our voting system.

So Mr. Antonopoulos was shown two numbers by Coinbase, the total BTC balance of their clients and the total number of BTC in their cold storage wallets. He checked the latter, and since the two numbers matched, he vouched for Coinbase not being Karpelian.

At least he did a more thorough audit than Ver, who was shown bank statements about the value of "A" and vouched that "(A+B)-(X+Y)" was positive.

And neither Ver nor Antonopoulos told us the actual numbers...

Quote from: KFR on March 02, 2014, 05:54:04 PM

http://blog.coinkite.com/post/77699705732/updated-audit-report-transparency-and

That site is unreachable now, may be a problem with my network here. Will check when it comes up. Isn't that the new exchange that vowed to be transparent?

Quote from: KFR on March 02, 2014, 05:54:04 PM

etc.

The "etc" does not include BTC-e, does it? Or Bitstamp, or Bitfinex?

AFAIK, those three are now the largest exchanges outside China, and the rest is small crumbles.

zyk

full member

Activity: 224

Merit: 101

Quote from: JayJuanGee on March 02, 2014, 06:25:14 PM

Quote from: KFR on March 02, 2014, 05:54:04 PM

Quote from: JorgeStolfi on March 02, 2014, 05:43:33 PM

Quote from: JayJuanGee on March 02, 2014, 03:38:12 PM

Second: At this time, there is NO real and/or material evidence that any other exchanges have been engaged in fractional reserve banking or stealing money or security breaches at any level near what seems to have happened with GOX. And, if audits do take place, and some of these problems exist (which is likely), there is NO evidence that the "problems" are at any level near the GOX situation.

Well... none of the other exchanges has volunteered to give even a rough idea of their financial position, especially how many BTC they owe and how many BTC they own.

I count that as "real and material" evidence that they must be in some sort of Karpelian situation themselves. Grin

Just not true. Serious academics shouldn't make such statements - baseless assumptions that a couple of minutes of research would completely debunk.

http://antonopoulos.com/2014/02/25/coinbase-review/
http://blog.coinkite.com/post/77699705732/updated-audit-report-transparency-and
etc.

Personally, I would NOT be surprised if there are many discrepancies in various exchanges; however, at this point we would be engaged in a high level of speculation to assume that any discrepancies in other exchanges (such as Bitstamp or BTC-e) rise anywhere near the GOX level of incompetency and/or fraud.

If you still believe you will see your assets again if you are not the first to GTFO then just watch how Mark is playing his heist....nothing easier then even being protected

from the creditors, depositors (suckers) and hide all traces if you have that much money to bribe yourself in the sunset! to "believe" otherwise is the Stockholm Syndrom

roslinpl

legendary

Activity: 2212

Merit: 1199

Quote from: zyk on March 02, 2014, 06:19:27 PM

Quote from: Loozik on March 02, 2014, 05:58:51 PM

Quote from: Amechan on March 02, 2014, 05:52:32 PM

Quote from: Loozik on March 02, 2014, 05:50:28 PM

Has Karpeles or anybody else from Gox officially told their story of how 850k coins became unaccounted for? hacked / lost wallet / others?

NO

Has anyone already established through which exchange these unaccounted coins were already routed and partially used for market making?

Dream on- they are sold already and the balance went offshore but still used to pay laywers!!

well there is option that you are right and perhaps you are.
But sometimes it is good to believe

JayJuanGee

legendary

Activity: 3962

Merit: 11519

Self-Custody is a right. Say no to"Non-custodial"

Quote from: KFR on March 02, 2014, 05:54:04 PM

Quote from: JorgeStolfi on March 02, 2014, 05:43:33 PM

Quote from: JayJuanGee on March 02, 2014, 03:38:12 PM

Second: At this time, there is NO real and/or material evidence that any other exchanges have been engaged in fractional reserve banking or stealing money or security breaches at any level near what seems to have happened with GOX. And, if audits do take place, and some of these problems exist (which is likely), there is NO evidence that the "problems" are at any level near the GOX situation.

Well... none of the other exchanges has volunteered to give even a rough idea of their financial position, especially how many BTC they owe and how many BTC they own.

I count that as "real and material" evidence that they must be in some sort of Karpelian situation themselves. Grin

Just not true. Serious academics shouldn't make such statements - baseless assumptions that a couple of minutes of research would completely debunk.

http://antonopoulos.com/2014/02/25/coinbase-review/
http://blog.coinkite.com/post/77699705732/updated-audit-report-transparency-and
etc.

Personally, I would NOT be surprised if there are many discrepancies in various exchanges; however, at this point we would be engaged in a high level of speculation to assume that any discrepancies in other exchanges (such as Bitstamp or BTC-e) rise anywhere near the GOX level of incompetency and/or fraud.

HairyMaclairy

legendary

Activity: 1442

Merit: 2282

Degenerate bull hatter & Bitcoin monotheist

Can someone give me a brief background on the 2011 crash? Was it just a hack of Gox driving the price from $30 to $2 over an extended period?

zyk

full member

Activity: 224

Merit: 101

Quote from: Loozik on March 02, 2014, 05:58:51 PM

Quote from: Amechan on March 02, 2014, 05:52:32 PM

Quote from: Loozik on March 02, 2014, 05:50:28 PM

Has Karpeles or anybody else from Gox officially told their story of how 850k coins became unaccounted for? hacked / lost wallet / others?

NO

Has anyone already established through which exchange these unaccounted coins were already routed and partially used for market making?

Dream on- they are sold already and the balance went offshore but still used to pay laywers!!

JayJuanGee

legendary

Activity: 3962

Merit: 11519

Self-Custody is a right. Say no to"Non-custodial"

Quote from: EuroTrash on March 02, 2014, 04:35:06 PM

Quote from: MoreFun on March 02, 2014, 04:32:48 PM

Quote from: EuroTrash on March 02, 2014, 04:29:14 PM

Volume has gone silent and frequency of posts in this forum too; that in itself is a sign of depression times.

Someone put a little ask wall of 200 coins at 160.5 and it was fully bought into.

Wasn't bought, he mostly pulled it. He is playing some game / bot.

I wonder whether he was testing if 560 is some sort of ghost bid wall or if he is trying to get upwards momentum before dumping?

I think they put the wall there.. to attempt to force the prices down to make it appear that there is more people willing to sell than actually exist.... but he does NOT want to sell at that price b/c he would likely lose his ass when the price goes up... he is just trying to force the sale of BTC by others.. NOT by him

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