I think the bot just got switched off. Back to normal soon.

Okcoin is newer than the other exchanges. Yet it has more volume. How did this happen?

By knocking it down too much.

They should keep it fluctuating at a level. Even if they are manipulating the market, they should keep it at one price range. It was good when they kept it at $800 or $600 but now they keep sinking it slowly. People will lose trust in BTC. The Chinese will leave. The Chinese are driving the price up and the stupid western whales drive it down. At least keep it at $500!!

all trading is in 4 decimal places only. so no i cant trade those other digits. when i withdrew the full amount, i didn't get those rightmost digits too. so it means they take that amount for themselves when they deposit.  also they take  0.0001 "network fee" for withdrawals.

still better than bter where coins used to just disappear.

they are giving bitcoin a bad name. price will go down long term because of these disgraceful whales.

Okay I sent them a small amount of BTC for trading. Amount that I can lose for experimentation. They seem to do rounding down to 4 decimals when depositing. So 0.000523 will become 0.0005. I don't know if that rounding is for display only, but I can't find any evidence that I still have it.

How does Huobi make money?

Made by the guys at Huobi http://www.reddit.com/r/BitcoinMarkets/comments/28u7w2/bitvc_a_new_trading_platform_from_huobi/


Seems a bit too good to be true. Must be a catch somewhere.

So I came across bitvc, it asks no fees.

I said they must make money from advertising. Now I haven't used it so I don't know.

However!! How can you make advertising money if the members use bots to trade? Bots do not visit webpages. It almost sounds too good to be true. No fees = bot heaven.

We don't want that to happen just yet. Let the BTC infrastructure improve first then let's see mass adoption after that.

Have you seen this new rise in the price?? It's $1,000,000 from here
































































Sorry that was supposed to be sarcasm. Jesting about some of the extreme gloom and euphoria we see on here.

I am no troll. Unlike what has been suggested. I really want the price to sink and then to go up. Or it should go up and stay there so it gives the community some respectability.

Anyway I can moan all I want but the smart powerful guys probably already know these problems. They know that volatility was ok and maybe even fun some time ago but now with greater merchant adoption it needs to stop.

Maybe someone is already thinking about making a new and more refined exchange. Have any of you used bitbargin.co.uk from Britain? That is a system which would not cause such madness if it was more widespread. But even they require many checks before you can use them. We NEED such systems in place for trading instead of these easy to manipulate jokes. These famous exchanges need to be given less importance. Bitcoin is good but the infrastructure is rubbish because it did little to warn against Gox.

What reasons other than the wrong reasons are there for 99.9% of people?

They don't deserve the gains but the new ones will? An odd way to think!

This is what I mean by the changes we need. The Blockchain is a genius idea and Satoshi is a genius. When prices go down we talk about fundamentals being good. What good are the fundamentals when we use stupid practices to regulate the price? This crash is a major setback for greater adoption and it is all the fault of the exchanges and how they work. Until these problems are removed we will never get mass adoption. The problems cannot be removed unless the exchanges become insignificant or their algorithms change. If BTC was traded on something like an Ebay style system then we wouldn't suffer because some whale wanted to dump the price on a low volume exchange. Mass adoption will never solve this problem. The problem needs to be solved before mass adoption occurs.

BTC needs to break away from these exchanges and I hope some smart developers make a better website to buy Bitcoin.

In the meantime I hope the price plummets until some stupid whales and power people realise how damaging this is. I can accept the price going down when China tries to ban it but I find it ridiculous that bitcoiners themselves will stupidly kill their own property.

Bitcoin's rep has just taken a massive blow. The mainstream media is putting out some really bad reports.

Why? Maybe then the developers and the community heads will wakeup and find ways to improve things. Dell has started to accept it and we are still suffering for immature problems. The fact that these exchanges can have such widespread effects is appalling. Imagine if I sell 200k bars of chocolate at a cut price in a matter of a few minutes to lots of people then all these other chocolate sellers do the same because I did it! How stupid would that be?? Imagine if bars of chocolate were sold on exchanges? It would be ridiculous. We need systems in place to stop this stupidity. This is not how things should be working. It doesn't reflect the desires of the majority of holders at all. How can you make the price dependent on what a few do? Exchange programmers need a clever solution in mind to sort this out.

I hope BTC sinks further so that these guys wake up and change their algorithms.

This is a very important matter. Exchanges should not be able to influence the price of BTC on other exchanges.

What one feels is not what matters here. What does it do to adoption? You and I may buy more coins but an illogical market is not something that we can tolerate because it is a problem in itself. It will lead to more problems in the future. It needs to be fixed.

Those drops had understandable reasons and actually had quick rebounds. But this current drop is psychologically worse because people see that most of the news is good but the price is dropping for no good reason. Those early drops made BTC look strong because of the support. This drop makes the BTC community look weak.

Whenever the price tumbles you will see a few despondent people on this forum talking about how they want to quit BTC. Often the response they get is almost one of encouragement. E.g. "Good more cheap coins for us" or "Let's get rid of the weak hands".

I don't think this is how we should always be responding. It's not good when people feel bad about how things are going. We need adopters, not disillusioned quitters.