Author

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31871. (Read 26717310 times)

hero member
Activity: 728
Merit: 500
Can I also add to the conversation that fact that one of the most popular (and profitable) btc gambling sites went down MOMENTS into the first big crash from 900 levels on gox? I refer to primedice.

Some suspect he absconded with the funds and sold when he could https://bitcointalk.org/index.php?topic=208986.2140 (I know some may think of the commenter as a troll, but there is often truth hidden within the "spam" of some people).  If that and the fact that some very established members have sold the majority of their holdings tells you nothing about what is will happen within the next little while... Well you are on your own.

Look at the guy that made those claims (haigtst) and his previous posts. He does nothing but spam nonsense (in this thread too).

While I can't rule out that he might be correct (if you throw shit at the wall long enough, eventually some of it will stick), I don't take anything he spams seriously and I'd recommend, for your sanity, that you do the same.
legendary
Activity: 882
Merit: 1000

It's still trading at these prices, though. They volume may be "fake", but not the price.


I'm not saying the volume is faked, because I really have no idea, but couldn't a big player use the lack of trading fees to their advantage by setting up big sell walls, buying them out, and creating the illusion of incredible buying pressure at no cost? Or vice versa, I suppose.

Someone gets it!
How about someone put bids under your big wall? Buy all of them?

Put a huge ask wall and then buy, and then what? You haven't moved the price yet. Most day traders following systems watching the price movements. Big selling wall being eaten is a bullish signal, but the appearance of big selling wall in the first place is a bearish signal. So who knows how people interpret it?

If someone really want to manipulate the market, they have to move the price by eating up the real walls. They will do it even without 0 trading fee. A trading fee as 0.3% or so just lower a little bit of their income by manipulating market.

That said, 0 trading fee definitely increases the volume. But that's mainly caused by the large number of small day traders. They can do more small scale and very frequent buy/sells using the API to get some small money.
sr. member
Activity: 260
Merit: 250
400 is not holding ?
back to 200 ?

Not sure where you are looking, but all exchanges (except BTC-e) are currently above $500.   Nowhere near danger of $400 falling right now.
full member
Activity: 192
Merit: 100
Can I also add to the conversation that fact that one of the most popular (and profitable) btc gambling sites went down MOMENTS into the first big crash from 900 levels on gox? I refer to primedice.

Some suspect he absconded with the funds and sold when he could https://bitcointalk.org/index.php?topic=208986.2140 (I know some may think of the commenter as a troll, but there is often truth hidden within the "spam" of some people).  If that and the fact that some very established members have sold the majority of their holdings tells you nothing about what is will happen within the next little while... Well you are on your own.
legendary
Activity: 1246
Merit: 1000
400 is not holding ?
back to 200 ?

Back to 0, time to sell all your coins.
sr. member
Activity: 260
Merit: 250

It's still trading at these prices, though. They volume may be "fake", but not the price.


I'm not saying the volume is faked, because I really have no idea, but couldn't a big player use the lack of trading fees to their advantage by setting up big sell walls, buying them out, and creating the illusion of incredible buying pressure at no cost? Or vice versa, I suppose.

Someone gets it!

So, while the manipulators were hard at work at Gox, why did they not paint red tape in China, creating the illusion of incredible selling pressure?   That would have helped drop the price quite a bit more.   It could be done, but how much is it actually done?   All we can do is speculate, and speculation by very nature is wrong at least as much as it is right.
full member
Activity: 192
Merit: 100

It's still trading at these prices, though. They volume may be "fake", but not the price.


I'm not saying the volume is faked, because I really have no idea, but couldn't a big player use the lack of trading fees to their advantage by setting up big sell walls, buying them out, and creating the illusion of incredible buying pressure at no cost? Or vice versa, I suppose.

Someone gets it!
sr. member
Activity: 260
Merit: 250

How do you jump from the idea that China's prices are artificially inflated due to no the lack trading fees to saying those people whome think that, think there is no demand for BTC in China?

Some have said as much.   They have been saying it trying to "scare" the price down for some time.   They have also said that they think it is mostly westerners who trade there, which is crazy talk.   Not that some don't . . .
legendary
Activity: 1246
Merit: 1000
Not sure why people are pretending Gox doesnt matter? I guess most of you are watching your $ value take a huge drop?

Gox volume is 100% real. China is not.

A 10k sell is nothing to scoff at.

why is China volume not real?

no trade fee

ahhhhh ok

There is real volume in China.   The daily trade volume is higher than there would be if there were fees, no doubt.   It is impossible to know how much effect it has overall.   The "fake volume" crowd is just grasping at straws to try and talk the price down.   I hope they keep doing it, we need people to temper the market with FUD or exuberance would run away even worse.  

tl;dr   It would be really stupid to assume there is no demand for BTC in China . . .

How do you jump from the idea that China's prices are artificially inflated due to no the lack trading fees to saying those people whome think that, think there is no demand for BTC in China?

Price has nothing to do with it, this is about volume. You could say that volume is inflated due to no trading fee and I kinda agree with that, but you can also compare the recent volume with the volume on BTCChina 6 months ago and it's a lot higher now. If the volume is inflated now there is no reason to believe it would be any different 6 months ago, so you can definitely make a good case that the 'real' volume has actually increased a lot.
member
Activity: 76
Merit: 10
...and the BitcoinKid
alert alert .. stamp lag .. stamp lag .. please call the authorities .. alert alert!
legendary
Activity: 3388
Merit: 4775
diamond-handed zealot
Not sure why people are pretending Gox doesnt matter? I guess most of you are watching your $ value take a huge drop?

Gox volume is 100% real. China is not.

A 10k sell is nothing to scoff at.

why is China volume not real?

no trade fee

ahhhhh ok

There is real volume in China.   The daily trade volume is higher than there would be if there were fees, no doubt.   It is impossible to know how much effect it has overall.   The "fake volume" crowd is just grasping at straws to try and talk the price down.   I hope they keep doing it, we need people to temper the market with FUD or exuberance would run away even worse.  

tl;dr   It would be really stupid to assume there is no demand for BTC in China . . .


nobody said there was no demand

if you can sell coins to yourself at no charge and paint the tape however you like what do you think you are going to get?
sr. member
Activity: 476
Merit: 250

It's still trading at these prices, though. They volume may be "fake", but not the price.


I'm not saying the volume is faked, because I really have no idea, but couldn't a big player use the lack of trading fees to their advantage by setting up big sell walls, buying them out, and creating the illusion of incredible buying pressure at no cost? Or vice versa, I suppose.
sr. member
Activity: 532
Merit: 261
­バカ
http://www.reddit.com/r/Bitcoin/comments/1r1gu5/starbucks_to_make_announcement_regarding_bitcoin/

"Leaker" says Starbucks to accept bitcoin by Thanksgiving.

In the middle of setting up a bitcoin bet involving SeansOutpost for escrow. Off the wall claim just got a little interesting...


lol he "leaked" (aka made up) the info hoping to stop this mad sell off??

MAYBE!

wont work.

but it will bounce, for far more compelling reasons then Starbucks accepting bitcoin.



It's pretty similar to that other "inside information" post on Reddit about Amazon preparing something BIG with Bitcoin back then in May (IIRC)
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
WTF you people do while I was sleeping? You let the bears in?


IS THAT A DOUBLE BOTTOM??? Roll Eyes Roll Eyes Roll Eyes Grin Grin Grin Grin
full member
Activity: 192
Merit: 100
Not sure why people are pretending Gox doesnt matter? I guess most of you are watching your $ value take a huge drop?

Gox volume is 100% real. China is not.

A 10k sell is nothing to scoff at.

why is China volume not real?

no trade fee

ahhhhh ok

There is real volume in China.   The daily trade volume is higher than there would be if there were fees, no doubt.   It is impossible to know how much effect it has overall.   The "fake volume" crowd is just grasping at straws to try and talk the price down.   I hope they keep doing it, we need people to temper the market with FUD or exuberance would run away even worse.  

tl;dr   It would be really stupid to assume there is no demand for BTC in China . . .

How do you jump from the idea that China's prices are artificially inflated due to no the lack trading fees to saying those people whome think that, think there is no demand for BTC in China?
legendary
Activity: 1904
Merit: 1038
Trusted Bitcoiner
believe it or not, i'm going to sleep....
I HOPE bitcoin is 0$ when i wake up, i sold some a truck load and i'm looking to buy back  Wink
donator
Activity: 2772
Merit: 1019
Not sure why people are pretending Gox doesnt matter? I guess most of you are watching your $ value take a huge drop?

Gox volume is 100% real. China is not.

A 10k sell is nothing to scoff at.

why is China volume not real?

no trade fee

It's still trading at these prices, though. They volume may be "fake", but not the price.
legendary
Activity: 854
Merit: 1000
Gox needs some credit having improved their trade engine greatly.

True!
sr. member
Activity: 260
Merit: 250
Not sure why people are pretending Gox doesnt matter? I guess most of you are watching your $ value take a huge drop?

Gox volume is 100% real. China is not.

A 10k sell is nothing to scoff at.

why is China volume not real?

no trade fee

ahhhhh ok

There is real volume in China.   The daily trade volume is higher than there would be if there were fees, no doubt.   It is impossible to know how much effect it has overall.   The "fake volume" crowd is just grasping at straws to try and talk the price down.   I hope they keep doing it, we need people to temper the market with FUD or exuberance would run away even worse.  

tl;dr   It would be really stupid to assume there is no demand for BTC in China . . .
newbie
Activity: 40
Merit: 0
That was amazing to watch, that volume! This is one ugly picture Smiley

https://i.imgur.com/QbIGzN0.png

Damn it, thought that was a "new" capture, not 10 mins old! lol

Looks like recovery starts now; unless more whales come out to play.

China still has 3.5m USD of bids until ~$500.
In Communist China, Bitcoiners actually have balls.  Tongue Grin

In Communist China, Bitcoin buys and holds *you*.
Jump to: