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Theory : China began using wash trading to hide large buyers entering the market
Now that the buyers are here, people are stuck wondering how much volume is real, how much is not.
It would have been a trigger to the other markets to see Chinese volume suddenly surge with a price surge. It would show too plainly Chinese interest.
Now, we really don't how many coins the Chinese are buying, and other traders' uncertainty of how serious they are gives them more time to get them cheaper. A head start.
Race is on.
It would have been a trigger to the other markets to see Chinese volume suddenly surge with a price surge. It would show too plainly Chinese interest.
Now, we really don't how many coins the Chinese are buying, and other traders' uncertainty of how serious they are gives them more time to get them cheaper. A head start.
Race is on.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I'll leave the rest to your imagination.
Is kinda textbook...
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Coinbase wall down.
Whats going on
Whats going on
Sometimes big walls get pulled once people start buying/dumping into them, and sometimes they seem to get pulled for no reason. They are probably often put there just for show.
Not just the bid wall I think. Quite a few ask walls came down with it.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Suddenly Coinbase is bigger than Finex and Bitstamp 
I remember some weeks ago they had really low volume
I remember some weeks ago they had really low volume
No. Since they started charging fees they have lower volume than Bitstamp. Coinbase ask side (and bid if we take out that wall) is still very thin. Don't know why would anyone wire 1mil$ to the exchange with such low liquidity.
If I was sending $1m anywhere, I'd want it to be somewhere with at least a degree of regulation and in my home country, not somewhere like Stamp of Finex that might run into problems of some sort.
Why don't more people understand this?
Between the current players, Coinbase is destined to end up as the leading exchange.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Quote from: Shatoshi link=topic=t178336.msg11123336#msg11123336 date=1429341065
Inflating prices by a dollar and then charging 1% on any transaction?
Fuck the 1%.
Coinbases last blunder they sold TONS of BTC off the real positive news with their lie.
So sell a bunch of expensive $320 BTC and buy them back the next day for $240.... fuck the 1%.
I think Bitcoin is due to pop pretty good... it would be a sham to see Coinbase try to suck up some of the limelight with fake news again
.Really excited about Rand being at the Bitcoin event tomorrow. Even a small glimmer of hope with a USA president that likes Bitcoin... he could set the pace as far as accepting it and not wanting to make USA coin.
http://www.coindesk.com/rand-paul-new-york-bitcoin-event/
I am referring to their order book.
This is unprecedented on their exchange.
Would there be any advantage in buying shares in this ETF over just buying btc yourself?
Non technical people will not have to worry about their investment getting hacked and stolen.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come.
Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners.
There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders.
Nailed it.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come.
Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners.
There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders.
Nailed it.
So what happens to price under this scenario? Price slowly trickles upward due to lack of coins, without volume?
It will trickle slowly at first, because experienced bitcoin traders will scoff at such a low volume rally. Then panic will grow as they notice that the sell walls are not being replaced. Price will then rocket on the low volume of traders who still use these exchanges. The hole these traders will be trying to fit through will be much smaller than anticipated because large buyers have cut off the stream of coins for sale nearer to the source.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.
I would not wait for an increase in volume, I don't think it will ever come.
Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners.
There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
while I wish for the price to go lower, I fear that ideas are infectious.
https://www.youtube.com/watch?v=gC4j-V585Ug
I thought this transparency of money argument is compelling. just wanted to share.
https://www.youtube.com/watch?v=gC4j-V585Ug
I thought this transparency of money argument is compelling. just wanted to share.
Amazing. Didn't plan to watch the whole thing, but couldn't stop. Thanks for that.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I don't want to jinx it here...but if we manage to recover from the drop quickly we could be looking at another "Silk Road" cash scenario.
At the time people thought the Silk Road was the cornerstone of the bitcoin economy as well.
edit : I do realize that we were in a bit stronger uptrend at the time of the SR crash.
At the time people thought the Silk Road was the cornerstone of the bitcoin economy as well.
edit : I do realize that we were in a bit stronger uptrend at the time of the SR crash.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Just in case you guys aren't watching Reddit:
Second Market Exchange is now LIVE!
https://www.secondmarket.com/bitcoin-trading
25BTC transaction minimum.
Ahead of schedule.
Second Market Exchange is now LIVE!
https://www.secondmarket.com/bitcoin-trading
25BTC transaction minimum.
Ahead of schedule.
Volume? Volume is key.
Doesn't matter right now. Being American is key.
Bullshit. CampBX has been around for over three years. It had excellent design and security for the time. It still does. It remained a backwater even with all the crap Gox put us through, Karpele's House of Buggery remained the main exchange.
The Market cannot be wrong. The customer is always right or he's not you customer. The Market is the Market. We don't serve the market we want.. We serve the market we have. I'll jump to second market when there is a market there or if I find an edge. Not before.
CampBX has a combined daily deposit/withdrawal limit of $1,000. Please tell me you're joking.
That proves my point, not yours. I used it three years ago for the same reason you think people will use Second Market now. Nobody followed. The market jumps when the market jumps, not when you or I think it ought to jump. I'll move there when and if others move there, not before.
No. Nobody jumped because it was limited to $1,000 deposit/withdrawal a day. That is not an exchange.
That's the last I'm going to say on it. This should be self explanatory.