Ok, I'll give it a shot:
let's say you wanted to buy a huge number of coins in the near term, but the ask volume means if you buy them all at once, the end price is more than you want to pay. How do you shake some bitcoins loose from the ask tree?
Maybe, you buy ~1/2 of what you mean to buy in one fell swoop, and then put up some large bids and wait.
People sitting higher up on the ask side think "Hm, looks like the activity has peaked and may start to go down. Nice looking bid wall going, guess I'll grab some quick profit." and proceed to sell to the exact same whale that started the whole thing off.
Which raises the question of exactly how many more coins does the whale actually want to buy and at what price. I think if they have a target price north of $135, there are going to be some very unhappy bears soon.
(If my past prediction record is any indication, this means you should sell immediately.)
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32599. (Read 26609874 times)
September 09, 2013, 05:10:48 PM
September 09, 2013, 04:58:21 PM
Gox's new trading engine and all of the upcoming exchanges (ex, Coinsetter) are completely unnecessary given the total volume on all current exchanges.
Prediction: 4-5 months from now, there will be at least a dozen new exchanges, most averaging about 1,000 daily volume. This "fracturing" of volume will ultimately result in lots of smaller and consequently more easily manipulable exchanges. Gox will still maintain the lead with 5,000 daily volume on the very busiest days. But, Gox too will be primed for manipulation given lower volume and depth.
Prediction 2: 1 year from now, after enough reports of manipulation and investors getting ripped off, the SEC steps in and requires exchanges to monitor and put in place restrictions to stop blatant manipulation (or at least make it much more difficult/risky). Bitcoin gradually drops in value to almost nothing as the community realizes the price is and always has been driven by whale-walls.
hmmm the community, define that?Prediction: 4-5 months from now, there will be at least a dozen new exchanges, most averaging about 1,000 daily volume. This "fracturing" of volume will ultimately result in lots of smaller and consequently more easily manipulable exchanges. Gox will still maintain the lead with 5,000 daily volume on the very busiest days. But, Gox too will be primed for manipulation given lower volume and depth.
Prediction 2: 1 year from now, after enough reports of manipulation and investors getting ripped off, the SEC steps in and requires exchanges to monitor and put in place restrictions to stop blatant manipulation (or at least make it much more difficult/risky). Bitcoin gradually drops in value to almost nothing as the community realizes the price is and always has been driven by whale-walls.
because i have been told lots of people buy and sell btc for things that have nothing to do with mtgox, bitstamp, etc... do not under estimate the power of historicity
edit: and avoiding time in the pen...
September 09, 2013, 04:50:27 PM
Not sure what is going on. But something weird is in the air. Rumors of something big at GOX happening and now someone trying to crash Stamp?
Do you have a source for the rumors?
Actually I was just looking for what the rumors actually were.
September 09, 2013, 04:47:27 PM
I admire people who bought above 130 and hold. We might go up. Situations like these remind me why I fucked up a few times. I would look at it today and think 'shit, I won't fall asleep holding BTC today'
September 09, 2013, 04:41:25 PM
all in all we're just mere bricks in the wall.
September 09, 2013, 04:39:29 PM
At least the wall was real
"Let teachers and priests and philosophers brood over questions of reality and illusion. I know this: if life is illusion, then I am no less an illusion, and being thus, the illusion is real to me. I live, I burn with life, I love, I slay, and am content."
-Conan the Barbarian, from the story Queen of the Black Coast
September 09, 2013, 04:35:58 PM
At least the wall was real
September 09, 2013, 04:34:13 PM
Not sure what is going on. But something weird is in the air. Rumors of something big at GOX happening and now someone trying to crash Stamp?
Do you have a source for the rumors?
No, that is why I said rumors.
September 09, 2013, 04:33:59 PM
Not false. Bid depth on Gox was a bit over 1M USD a year ago (until July 2012 at least), and it didn't go up significantly until February this year. On Bitstamp it's around 1.5M USD lately. So at best you could say the depth was about equal.
September 09, 2013, 04:33:28 PM
Gox's new trading engine and all of the upcoming exchanges (ex, Coinsetter) are completely unnecessary given the total volume on all current exchanges.
Prediction: 4-5 months from now, there will be at least a dozen new exchanges, most averaging about 1,000 daily volume. This "fracturing" of volume will ultimately result in lots of smaller and consequently more easily manipulable exchanges. Gox will still maintain the lead with 5,000 daily volume on the very busiest days. But, Gox too will be primed for manipulation given lower volume and depth.
Prediction 2: 1 year from now, after enough reports of manipulation and investors getting ripped off, the SEC steps in and requires exchanges to monitor and put in place restrictions to stop blatant manipulation (or at least make it much more difficult/risky). Bitcoin gradually drops in value to almost nothing as the community realizes the price is and always has been driven by whale-walls.
Prediction: 4-5 months from now, there will be at least a dozen new exchanges, most averaging about 1,000 daily volume. This "fracturing" of volume will ultimately result in lots of smaller and consequently more easily manipulable exchanges. Gox will still maintain the lead with 5,000 daily volume on the very busiest days. But, Gox too will be primed for manipulation given lower volume and depth.
Prediction 2: 1 year from now, after enough reports of manipulation and investors getting ripped off, the SEC steps in and requires exchanges to monitor and put in place restrictions to stop blatant manipulation (or at least make it much more difficult/risky). Bitcoin gradually drops in value to almost nothing as the community realizes the price is and always has been driven by whale-walls.
September 09, 2013, 04:25:41 PM
September 09, 2013, 04:19:43 PM
Aaaand it's gone.
September 09, 2013, 04:02:10 PM
September 09, 2013, 04:01:28 PM
Not sure what is going on. But something weird is in the air. Rumors of something big at GOX happening and now someone trying to crash Stamp?
Do you have a source for the rumors?
September 09, 2013, 03:51:04 PM
September 09, 2013, 03:50:16 PM
September 09, 2013, 03:41:47 PM
This is why I've been saying Stamp isn't a real competitor to Gox. Stamp simply doesn't have the bid depth. You can't sell large quantities without causing lots of slippage.
stamps has been known to be slightly more volatile than gox
A natural consequence of laughable depth.
It's a lot better than it was a couple months ago at least, it will grow as more people give it a chance and stop staring and laughing at the depth thinking it will improve on its own. Gox had worse depth a year ago.
September 09, 2013, 03:39:37 PM
That dump lasted just long enough to move the Coinbase buy price, right exactly when I was about to buy anyway, so I managed to get them at $115.23.
I tried to do the same thing but I refreshed before I bought and the price jumped back to 19.90. You lucky son of a gun...LOL
September 09, 2013, 03:37:39 PM
Damn it just missed my standing bid order on Bitstamp. 
September 09, 2013, 03:36:54 PM
Glad someone else pointed it out too, I thought the 115 was a typo..
I don't think the dump with an ongoing (still) DDOS attack worked though. Price is filling in and people are not panicking it looks like.
Not sure what is going on. But something weird is in the air. Rumors of something big at GOX happening and now someone trying to crash Stamp?
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