Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30228.

Bios Optimus

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Quote from: MatTheCat on January 21, 2014, 10:21:29 AM

Quote from: JorgeStolfi on January 21, 2014, 09:23:53 AM

From what I have read here, BTC-China decided to play it safe, and stopped accepting cash deposits. They now use vouchers that one can buy at e-commerce sites -- a system which is very cumbersome at least.

Huobi and OKCoin still accept cash deposits through commercial bank accounts. I have read here that the owners are related to powerful politicians; if true, that may explain why they have chosen to run this risk. I have seen no reports of problems with withdrawals, but presumaby they must be in CNY only.

Now this interests me a lot if true. Kind of gives credence to the whole China pump n dump conspiracy theory, with the end result intended to be a few interested insiders within the Chinese Hierarchy coming into possession of a shit-load of cut price coins.

I recently explained the whole Bitcoin phenomenon and current state of affair to someone who I will describe as a Man of the Street/Wide-boy. His immediate response was that "the Chinese will go mad for Bitcoin cos it is a way of getting their wealth out the country, but the Chinese big boys will want to control it and to do that, they will crash it and buy it up without telling anyone".......

Mat, So am I to think that there is to be a crash +/- 1 Feb followed by a run up by Chinese big boys? Is that your take?

MatTheCat

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Quote from: JorgeStolfi on January 21, 2014, 09:23:53 AM

From what I have read here, BTC-China decided to play it safe, and stopped accepting cash deposits. They now use vouchers that one can buy at e-commerce sites -- a system which is very cumbersome at least.

Huobi and OKCoin still accept cash deposits through commercial bank accounts. I have read here that the owners are related to powerful politicians; if true, that may explain why they have chosen to run this risk. I have seen no reports of problems with withdrawals, but presumaby they must be in CNY only.

Now this interests me a lot if true. Kind of gives credence to the whole China pump n dump conspiracy theory, with the end result intended to be a few interested insiders within the Chinese Hierarchy coming into possession of a shit-load of cut price coins. Could it be that the outsider backed by Western money, Bobby Lee has been given the nudge so that good little party boys get the market to themselves?

I recently explained the whole Bitcoin phenomenon and current state of affair to someone who I will describe as a Man of the Street/Wide-boy. His immediate response was that "the Chinese will go mad for Bitcoin cos it is a way of getting their wealth out the country, but the Chinese big boys will want to control it and to do that, they will crash it and buy it up without telling anyone".......

oda.krell

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Quote from: JorgeStolfi on January 21, 2014, 08:41:00 AM

According to my Seventh Level Trend Analysis™

the price of Bitcoin has now hit a Chandrasekhar-Schwartzschild-Walsoraj inversion discontinuity.

From now on it should start oscillating again, with ever increasing swings --- but with reversed polarity. Price will crash upwards whenever the market gets bullish on bad news, and rally downwards when it gets bearish on good news.

Traders are advised to adjust their basic strategy accordingly: from now on, it's "buy high, sell low".

*snort*

Posts like this make it worth wading through page after page of chartbuddy posts and general {bullish, bearish} meme trolling... thanks :D

JorgeStolfi

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Quote from: aminorex on January 21, 2014, 09:26:41 AM

can you articulate the peculiarity which you perceive?

For one thing, all the tiny trades that bounce up and down between the lowest ask and the highest bid, Sometimes many times per minute, sometimes once every couple of minutes. Without them, the chart would probably look like Huobi's, only much sparser.

My impression of MtGOX is that all the sellers are over-bullish and all the buyers are over-bearish, so they just sit there facing each other, for hours on end, with a $20 gap between them. (I suppose that the technical term for that is "low liquidity", correct?) Occasionally a newbie or arbitrage trader comes in determined to trade a dozen coins. More rarely, the price in China changes so much that everybory who is sitting on MtGOX's book has to pick up their chair and move it over a bit.

ag@th0s

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Given it's so boring at the moment, maybe now would be a good time to take a short course? University of Cumbria becomes the first Public University in the world to accept Bitcoin - http://www.cumbria.ac.uk/AboutUs/News/Articles/201314/January/PR1327.aspx

MatTheCat

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Quote from: aminorex on January 21, 2014, 09:26:41 AM

can you articulate the peculiarity which you perceive?

He perceives the robotic nature of the buying and selling. Automated, manipulated, price engineering.

Gox has been hooky like this for a while, but BTC-e as recently as yesterday was looking much more organic than it is today. A game of spot the 'real'* trades on BTC-E today.

*Trades that represent a change of ownership of Bitcoin other than a game of pass the parcel between some whale or exchange associates account.

lemonte

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Quote from: ?? on ??

C'mon whales! Can you crash Bitcoin to $550 or let it go to the moon already?

This is so boring, no one is making real money in a sideways movement (850-950), this is getting worse that one "Tired of $140" thread as far i remember, should we start a new "Tired of $900" one?

Patience is a virtue! In 2 weeks time thinks should be a bit clearer. I still believe there is money waiting on the sidelines.

ChartBuddy

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Explanation

vokain

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is today the day

aminorex

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Sine secretum non libertas

Quote from: JorgeStolfi on January 21, 2014, 09:23:53 AM

On the other hand, the 1-minute charts at MtGOX and now even BTC-e seem rather peculiar.

can you articulate the peculiarity which you perceive?

JorgeStolfi

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Quote from: LOADING.READY.RUN on January 21, 2014, 07:50:29 AM

I cant figure out why BTCChian went from the biggest exchange in the world to one with very low volume, because of the whole china situation Huobi became the biggest exchange, for what reason ?

From what I have read here, BTC-China decided to play it safe, and stopped accepting cash deposits. They now use vouchers that one can buy at e-commerce sites -- a system which is very cumbersome at least.

Huobi and OKCoin still accept cash deposits through commercial bank accounts. I have read here that the owners are related to powerful politicians; if true, that may explain why they have chosen to run this risk. I have seen no reports of problems with withdrawals, but presumaby they must be in CNY only.

Quote from: mmitech on January 21, 2014, 07:41:00 AM

Some traders/bots are generating the volume by buying/selling to themselves. No fees, no loss from that. I'm sure that this can be utilized for making money, and I'm even more sure that if you can make money from it, someone is doing it already.

Why people keep saying that of the Chinese exchanges, but not of the others? There seems to be no evidence for that claim other than their huge volume -- which is quite expected. Sure, there is a lot of robot trade, and zero fees encourage it; but robot trade is not necessarily fake.

On the other hand, the 1-minute charts at MtGOX and now even BTC-e seem rather peculiar.

Exchanges that are small and/or shrinking have obvious interest in padding their volume numbers with fake trades; and being unregulated have no reason to avoid the practice. Note that an exchange that has transaction fees for ordinary clients may forfeit them for special friends -- such as themselves.

seleme

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Duelbits.com

Bears, just throw the towel and thank me later Cheesy

ChartBuddy

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Explanation

aminorex

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Sine secretum non libertas

Now that actually made me crack a grin.

T minus 24 hours and counting.

JorgeStolfi

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According to my Seventh Level Trend Analysis™

the price of Bitcoin has now hit a Chandrasekhar-Schwartzschild-Walsoraj inversion discontinuity.

From now on it should start oscillating again, with ever increasing swings --- but with reversed polarity. Price will crash upwards whenever the market gets bullish on bad news, and rally downwards when it gets bearish on good news.

Traders are advised to adjust their basic strategy accordingly: from now on, it's "buy high, sell low".

Tzupy

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Quote from: gog1 on January 21, 2014, 08:26:53 AM

the spread between mtgox vs bitstamp is getting larger, more mtgox withdraw problem?

Nothing new on Gox withdrawals, but more players cashing out on Bitstamp.

gog1

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the spread between mtgox vs bitstamp is getting larger, more mtgox withdraw problem?

ChartBuddy

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Explanation

LOADING.READY.RUN

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Quote from: mmitech on January 21, 2014, 07:41:00 AM

I really cant buy that Huobi have such large volume, so beside the 0% fee how people do deposits and withdrawals ? I cant figure out why BTCChian went from the biggest exchange in the world to one with very low volume, because of the whole china situation Huobi became the biggest exchange, for what reason ?

any one of you here have any confirmed information about this ?

Some traders/bots are generating the volume by buying/selling to themselves. No fees, no loss from that. I'm sure that this can be utilized for making money, and I'm even more sure that if you can make money from it, someone is doing it already.

elg

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*blurb*

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