Do you think its wise to hold off buying right now?
i think it's cheap but I also think we'll see some panic as china plays out
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30717. (Read 26712318 times)
December 25, 2013, 07:57:59 PM
i think it's cheap but I also think we'll see some panic as china plays out
December 25, 2013, 07:56:40 PM
Do you think its wise to hold off buying right now?
December 25, 2013, 07:56:15 PM
how you know how high this will go? how you know how low it will fall after?
Uh, what?
We're all dying to know your methods...
December 25, 2013, 07:53:42 PM
I don't know, guys. Decentralization has its costs, and we don't know for sure yet whether it outweighs the benefit so that it can be scaled out to a really large system. Furthermore, we don't even know the degree of decentralization a "world currency Bitcoin" would have.
Markets always gravitate towards the most efficient, and centralized systems always have reduced costs. Who's to say that a single decentralized system is superior to a plethora of competing centralized systems?
I will always be invested in Bitcoin (and honestly, I've already fulfilled almost all my financial wishes), but I will never succumb to this sort of kool aid and blend out my inner advocatus diaboli. Dogmatic thinking is not only bad for your financial but also for your psychological health.
Markets always gravitate towards the most efficient, and centralized systems always have reduced costs. Who's to say that a single decentralized system is superior to a plethora of competing centralized systems?
I will always be invested in Bitcoin (and honestly, I've already fulfilled almost all my financial wishes), but I will never succumb to this sort of kool aid and blend out my inner advocatus diaboli. Dogmatic thinking is not only bad for your financial but also for your psychological health.
Quoted for future reference, when you're putting on your biggest troll hat again.
Wait.
You can just delete my post then.
...
SELL SELL SELL
December 25, 2013, 07:51:09 PM
China is not "out completely". Not as long as their order book still has a life of its own.
Based on its volume, it simply has been downgraded from 'the exchange you must watch' to 'one of 3 exchanges you should keep an eye on'.
Based on its volume, it simply has been downgraded from 'the exchange you must watch' to 'one of 3 exchanges you should keep an eye on'.
December 25, 2013, 07:50:52 PM
I don't know, guys. Decentralization has its costs, and we don't know for sure yet whether it outweighs the benefit so that it can be scaled out to a really large system. Furthermore, we don't even know the degree of decentralization a "world currency Bitcoin" would have.
Markets always gravitate towards the most efficient, and centralized systems always have reduced costs. Who's to say that a single decentralized system is superior to a plethora of competing centralized systems?
I will always be invested in Bitcoin (and honestly, I've already fulfilled almost all my financial wishes), but I will never succumb to this sort of kool aid and blend out my inner advocatus diaboli. Dogmatic thinking is not only bad for your financial but also for your psychological health.
vvv: Yes, you could say China has simply been thrown back a few months. At least for another month.
Markets always gravitate towards the most efficient, and centralized systems always have reduced costs. Who's to say that a single decentralized system is superior to a plethora of competing centralized systems?
I will always be invested in Bitcoin (and honestly, I've already fulfilled almost all my financial wishes), but I will never succumb to this sort of kool aid and blend out my inner advocatus diaboli. Dogmatic thinking is not only bad for your financial but also for your psychological health.
vvv: Yes, you could say China has simply been thrown back a few months. At least for another month.
December 25, 2013, 07:48:22 PM
Bitcoinity sometimes has bugs with regard to the market depths of exchanges, so I wouldn't rely on it. If this order book data is consistent with other sources however, it is certainly indicative of made up trades on their part.
Why trust any Chinese exchange, really? OkCoin has been confirmed to fake it, BTCChina's volume dropped like a ROCk once they implemented fees (= HF bots not being able to do their work anymore), and Huobi is offering 0% fees.
Have fun trading at fake prices. I like taking advantage off of this.
how are going to take advantage of this? how you know how high this will go? how you know how low it will fall after?
Uh, what?
December 25, 2013, 07:45:42 PM
Bitcoinity sometimes has bugs with regard to the market depths of exchanges, so I wouldn't rely on it. If this order book data is consistent with other sources however, it is certainly indicative of made up trades on their part.
Why trust any Chinese exchange, really? OkCoin has been confirmed to fake it, BTCChina's volume dropped like a ROCk once they implemented fees (= HF bots not being able to do their work anymore), and Huobi is offering 0% fees.
Have fun trading at fake prices. I like taking advantage off of this.
how are going to take advantage of this? how you know how high this will go? how you know how low it will fall after?
December 25, 2013, 07:40:26 PM
You're preaching to the choir. I've always been wary of any Chinese data. To be honest, this should be applied to any Bitcoin exchange. I don't think any of them are audited.
My bank can't even electronically pay bills on the same day. They print out a check and put it in the mail. And let's not forget that US banks are still using the magnetic strip when chip and pin is out there and better (though the banks managed to fuck that up too).
You're making my point here. It would be pretty easy for them to step up their game once they get competition. Banks are like record labels in that way.
molecular, before laughing in your hubris, I would dwell on what she really means rather than technically. There's no real need for p2p if there are central companies who will deliver a good/convenient experience at acceptable prices. Think Steam and Netflix. Who's to say banks couldn't get their shit together if they wanted to?
My bank can't even electronically pay bills on the same day. They print out a check and put it in the mail. And let's not forget that US banks are still using the magnetic strip when chip and pin is out there and better (though the banks managed to fuck that up too).
Dinosaurs will die: http://www.youtube.com/watch?v=_Ahc-oEFQ7k
Dinosaurs can't adapt. It's in their faith to die as the world changes around them.
December 25, 2013, 07:33:57 PM
It would be easy for them to step up their game now. By the time they start getting in gear, it will be too late. It's not only their business practices which are entrenched in outmoded ways of thinking, it's their whole zeitgeist. The future of banks is the today for print media.
December 25, 2013, 07:29:39 PM
You're preaching to the choir. I've always been wary of any Chinese data. To be honest, this should be applied to any Bitcoin exchange. I don't think any of them are audited.
My bank can't even electronically pay bills on the same day. They print out a check and put it in the mail. And let's not forget that US banks are still using the magnetic strip when chip and pin is out there and better (though the banks managed to fuck that up too).
You're making my point here. It would be pretty easy for them to step up their game once they get competition. Banks are like record labels in that way.
molecular, before laughing in your hubris, I would dwell on what she really means rather than technically. There's no real need for p2p if there are central companies who will deliver a good/convenient experience at acceptable prices. Think Steam and Netflix. Who's to say banks couldn't get their shit together if they wanted to?
My bank can't even electronically pay bills on the same day. They print out a check and put it in the mail. And let's not forget that US banks are still using the magnetic strip when chip and pin is out there and better (though the banks managed to fuck that up too).
December 25, 2013, 07:26:50 PM
molecular, before laughing in your hubris, I would dwell on what she really means rather than technically. There's no real need for p2p if there are central companies who will deliver a good/convenient experience at acceptable prices. Think Steam and Netflix. Who's to say banks couldn't get their shit together if they wanted to?
My bank can't even electronically pay bills on the same day. They print out a check and put it in the mail. And let's not forget that US banks are still using the magnetic strip when chip and pin is out there and better (though the banks managed to fuck that up too).
December 25, 2013, 07:24:05 PM
Bitcoinity sometimes has bugs with regard to the market depths of exchanges, so I wouldn't rely on it. If this order book data is consistent with other sources however, it is certainly indicative of made up trades on their part.
Why trust any Chinese exchange, really? OkCoin has been confirmed to fake it, BTCChina's volume dropped like a ROCk once they implemented fees (= HF bots not being able to do their work anymore), and Huobi is offering 0% fees.
Have fun trading at fake prices. I like taking advantage off of this.
December 25, 2013, 07:22:10 PM
Bitcoinity sometimes has bugs with regard to the market depths of exchanges, so I wouldn't rely on it. If this order book data is consistent with other sources however, it is certainly indicative of made up trades on their part.
December 25, 2013, 07:21:51 PM
Yay. Now all we need is some volume.
December 25, 2013, 07:18:31 PM
http://bitcoinity.org/markets/huobi/CNY
Maybe someone with time and will can even analyze this and expose suspicious data if there is any.
The scary thing about manipulation by exchanges is that they can only get more sophisticated, and eventually we won't be able to tell.
Maybe someone with time and will can even analyze this and expose suspicious data if there is any.
The scary thing about manipulation by exchanges is that they can only get more sophisticated, and eventually we won't be able to tell.
Look at that market depth. 300 BTC on the buy side orderbook, yet >1K BTC volume every hour? Hahahahah just say "OMG CHINA IS BUYING' and all the morons follow in high volume on the USD/EU exchanges. Doesn't matter I'm going to make money, but DAMN.
December 25, 2013, 07:16:56 PM
http://bitcoinity.org/markets/huobi/CNY
Maybe someone with time and will can even analyze this and expose suspicious data if there is any.
The scary thing about manipulation by exchanges is that they can only get more sophisticated, and eventually we won't be able to tell.
Maybe someone with time and will can even analyze this and expose suspicious data if there is any.
The scary thing about manipulation by exchanges is that they can only get more sophisticated, and eventually we won't be able to tell.
December 25, 2013, 07:15:19 PM
Any livecharts for Huobi?
EDIT// LOLOLOLOLOLOLOL http://bitcoinity.org/markets/huobi/CNY
Look at that market depth. 300 BTC on the buy side orderbook, yet >1K BTC volume every hour? Hahahahah just say "OMG CHINA IS BUYING' and all the morons follow in high volume on the USD/EU exchanges. Doesn't matter I'm going to make money, but DAMN.
EDIT// LOLOLOLOLOLOLOL http://bitcoinity.org/markets/huobi/CNY
Look at that market depth. 300 BTC on the buy side orderbook, yet >1K BTC volume every hour? Hahahahah just say "OMG CHINA IS BUYING' and all the morons follow in high volume on the USD/EU exchanges. Doesn't matter I'm going to make money, but DAMN.
December 25, 2013, 07:07:17 PM
Dogecoin is a perfect synthesis of the stupidity of the crypto ecosystem.
December 25, 2013, 07:02:24 PM
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