Ok guys - what's the REAL story with BTC-E?? I honestly haven't watched it closely until the last few days. But what is really going on there? They show 80-90% of the volume of Gox and Stamp, but that's just bots. Its like 95% bots. And since they charge 2% in transactions fees, there is no way the owners of those bots could be paying those fees and still have any money left. So are the bots just set up to make it appear like there is volume, so as to give the exchange the appearance of legitimacy so that they can make their money with pumping and dumping the alt coins?
I mean, I am probably the farthest from a conspiracy theorists on this entire forum, but I cannot figure out any other reasonable answer to what is going on there.
I would love insight from someone who knows more than me on this matter. I am really curious to understand BTC-E and how they are really operating.
EDIT: and I am not suggesting the owners of the exchange pump and dump. However, if the volume of the BTC exchange is manipulated, then since the alt coin prices are measured against the BTC price, it makes the alt coin prices look more legitimate. Then more money can be attracted to the exchange in the alt coin markets.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31478. (Read 26610656 times)
November 29, 2013, 06:35:53 PM
November 29, 2013, 06:31:04 PM
Good timing 
Dumb luck. I actually gave bitcoin a pass back in 2010.
November 29, 2013, 06:28:16 PM
Not that I know anything... but I'd think $800/$850 support would be very strong (assuming there even was a "major" dip).
Of course, "never say never" in Bitcoin.
Of course, "never say never" in Bitcoin.
It's obv that I agree with you. Heh. When I first bought (way, way, back in Sept lol) I thought I had fallen for the old 'buy at the top' trick at $122.
I'm pretty jelly. I got most of my coins in April and my cost basis is probably not much better than $122 each.
Good timing
November 29, 2013, 06:25:04 PM
Not that I know anything... but I'd think $800/$850 support would be very strong (assuming there even was a "major" dip).
Of course, "never say never" in Bitcoin.
Of course, "never say never" in Bitcoin.
It's obv that I agree with you. Heh. When I first bought (way, way, back in Sept lol) I thought I had fallen for the old 'buy at the top' trick at $122.
November 29, 2013, 06:20:12 PM
pshsh. This is organised. It's only too many tabs when you can't see what they are. 40% of RAM still available
November 29, 2013, 06:18:45 PM
Even an 'unhealthy' correction (say down to 500) could be a good thing. At that level many more people would/could buy in. And, since we know that it has been to 1220 once, it is likely to go there again.
Not that I know anything... but I'd think $800/$850 support would be very strong (assuming there even was a "major" dip).
Of course, "never say never" in Bitcoin.
November 29, 2013, 06:18:28 PM
Confession - I went a little bit into fiat at 1215, so I am hoping for a bit of a correction.
Hey - it's no fees weekend, am I forgiven?
No need to confess. In the heart of every bull they know deeply this is highly overvalued. You just have the balls to admit it.Hey - it's no fees weekend, am I forgiven?
I have bowls!!!
But I don't understand why the price is wrong so that it needs a correction!!!
Would anyone care to give a logical explanation?
You need to stop viewing the term correction as a negative thing, markets rally up, correct down, consolidate, trend sideways, break out. All of which are healthy behavior. If the price continued to rise every day without fail, how would bitcoin every be used for commerce? From now on when someone says 'expect a correction' think 'yisss!' because a healthy correction will lead to a healthier continual growth.
It's not the correction that I think of as negative. It's the predictions.
November 29, 2013, 06:14:47 PM
Even an 'unhealthy' correction (say down to 500) could be a good thing. At that level many more people would/could buy in. And, since we know that it has been to 1220 once, it is likely to go there again.
November 29, 2013, 06:13:02 PM
Damn, you are multitasking like a sonuvabitch. gg
November 29, 2013, 06:12:26 PM
You need to open more tabs mate.
November 29, 2013, 06:12:03 PM
Confession - I went a little bit into fiat at 1215, so I am hoping for a bit of a correction.
Hey - it's no fees weekend, am I forgiven?
No need to confess. In the heart of every bull they know deeply this is highly overvalued. You just have the balls to admit it.Hey - it's no fees weekend, am I forgiven?
I have bowls!!!
But I don't understand why the price is wrong so that it needs a correction!!!
Would anyone care to give a logical explanation?
You need to stop viewing the term correction as a negative thing, markets rally up, correct down, consolidate, trend sideways, break out. All of which are healthy behavior. If the price continued to rise every day without fail, how would bitcoin every be used for commerce? From now on when someone says 'expect a correction' think 'yisss!' because a healthy correction will lead to a healthier continual growth.
/\*exactly! ~ $BTC being hoarded by the elite until we hit//^$10,000+ imho! =)
November 29, 2013, 06:11:28 PM
Due for a correction soon?
I liked it when it was a bit more linear looking..
I liked it when it was a bit more linear looking..
Don't worry, it's linear on the log chart
November 29, 2013, 06:06:38 PM
Confession - I went a little bit into fiat at 1215, so I am hoping for a bit of a correction.
Hey - it's no fees weekend, am I forgiven?
No need to confess. In the heart of every bull they know deeply this is highly overvalued. You just have the balls to admit it.Hey - it's no fees weekend, am I forgiven?
I have bowls!!!
But I don't understand why the price is wrong so that it needs a correction!!!
Would anyone care to give a logical explanation?
You need to stop viewing the term correction as a negative thing, markets rally up, correct down, consolidate, trend sideways, break out. All of which are healthy behavior. If the price continued to rise every day without fail, how would bitcoin every be used for commerce? From now on when someone says 'expect a correction' think 'yisss!' because a healthy correction will lead to a healthier continual growth.
November 29, 2013, 06:03:57 PM
November 29, 2013, 06:02:57 PM
November 29, 2013, 05:55:53 PM
I'm as far from a bear as you can get.
Seems to be working out for you.
November 29, 2013, 05:55:30 PM
I love this diagram:
Wooooooooooooooooooooooooooooooooooooooshhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh hhhhhhhhhh!!!!!
Wooooooooooooooooooooooooooooooooooooooshhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh hhhhhhhhhh!!!!!
November 29, 2013, 05:52:52 PM
But I don't understand why the price is wrong so that it needs a correction!!!
Would anyone care to give a logical explanation?
I suppose the only explanation I can give is that I do a tad bit of day trading. So, I need small peaks and valleys. Sell near the top and rebuy near the bottom repeat as necessary.
Most everyone here will acknowledge that the long-term trend is up. How far is up? None of us know for sure. Corrections seem to help keep the currency trading. Doesn't mean that a correction has to go deep to allow for profit taking. And consolidation at a lower level often means a larger climb.
But this is bitcoin. What do I know?
November 29, 2013, 05:48:09 PM
I'm as far from a bear as you can get.
I have BULL written through me like a stick of rock, but I wanna play for more coins!
I just don't think over 1200 will stick all night, sorry chaps!
Numerous people wanted more coins with playing. Not so much of them really got what they wanted. Watch for bull.
November 29, 2013, 05:46:27 PM
Confession - I went a little bit into fiat at 1215, so I am hoping for a bit of a correction.
Hey - it's no fees weekend, am I forgiven?
Hey - it's no fees weekend, am I forgiven?
Honestly, I think you'll be lucky if we see triple digits again. I suspect a big 'crash' around 1500 but not sure it'll crash a third.
I am not looking for three figures - I just figure this weekend will go up and down like a yo-yo and I have buy-backs set in the upper to mid 1100s.
Just want more coins!
Thanks to people like you market sentiment is 1k+ and you're right.
Have to say, it's amazing how ew people realise it's about getting as many coins as possible rather than trying to make as much $ as possible. I think you have it spot on.
My new revision/prediction: anything below 10k is cheap.
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