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Don't send the 400K BTC whale/extortionist any BTC. Let him try and sell 400K BTC. Good luck with that.
lol that was a random lowlife sending that transaction with blockchain.info wallet, where you can add a tag
Oh, good to hear. Although it seems he scammed some people out of a little BTC. I figured it was fishy.
"You guys are all FUCKED"
http://noblecustom.com/wp-content/uploads/2013/04/michael-douglas_hepta.jpg
http://noblecustom.com/wp-content/uploads/2013/04/michael-douglas_hepta.jpg
Well, if the whale who moved the 120K BTC does dump his coins, then at least I will be able to buy BTC for double digits. Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Do I have this right?..
Bull Trap: price starts to rise quickly causing ppl to panic buy then shortly after the price dips much lower. They get trapped with the higher price btc instead of buying it on the dip
Bull Trap: price starts to rise quickly causing ppl to panic buy then shortly after the price dips much lower. They get trapped with the higher price btc instead of buying it on the dip
Yep.
There is also a bear trap: people sell a lot of btc quickly and then begin buying at the low en masse.
Thanks. Learning as I go.
Just to verify the bear trap: they panic sell thinking it's going to go down and then it rises?
so basically just opposites
Yes. They are are mirror strategies.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Do I have this right?..
Bull Trap: price starts to rise quickly causing ppl to panic buy then shortly after the price dips much lower. They get trapped with the higher price btc instead of buying it on the dip
Bull Trap: price starts to rise quickly causing ppl to panic buy then shortly after the price dips much lower. They get trapped with the higher price btc instead of buying it on the dip
Yep.
There is also a bear trap: people sell a lot of btc quickly and then begin buying at the low en masse.
Agreed.
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
In the short term, I agree that there is selling pressure. I can see why you might be agitated by my comments. You are short term. I'm not.
You are worried about day to day or even hourly moves. I'm more like the next few weeks or months.
BTW, I have never come across a really wealthy day trader. The guys that are rich are insiders, macro guys, the buy and hold guys and hedge fund guys. Don't get me wrong, some day traders do well, but on the whole they survive. They aren't really wealthy. This is just my observation generally and is the reason why I chose not to day trade.
I have come across several wealthy traders in my life (energy traders, FOREX traders, bond traders, etc...). Traders are needed in order to provide liquidity to the market and for price discovery. Not everyone can be a "buy and hold" type person or there would be no liquidity in the market. If bitcoin ever becomes mainstream, there will actually be MORE traders than there are now since investment banks & hedge funds will have teams trading bitcoin on the open market. Not to mention there will be a robust bitcoin derivatives market as well.
This should be obvious to anyone with half a brain.
So i have come across some dude thats rich because of hitting jackpot at casino, that means i should go to casino every day? dream big right?
Apparently, you dont even have half a brain.
You must not even have half a brain because everything is traded. Commodities, energy, stocks, bonds, currencies, etc... Trading is an essential part of any market.
The reason for the massive volatility in bitcoin right now is because it is still a relatively illiquid market. Also, trading platforms have not matured to the level that more sophisticated trading is possible. Trading is not gambling if you can hedge you trades in a derivatives/options market. Right now bitcoin is too new to take advantage of good hedging, but that doesn't mean that it will never be. If adoption rates increase, then the volatility will decrease and trading will be less risky.
However, trading is here to stay.
Wait so you spin day traders to trading in general ? awesome
Who else is going to trade right now??? The banks sure as hell aren't touching bitcoin yet.
Agreed.
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
In the short term, I agree that there is selling pressure. I can see why you might be agitated by my comments. You are short term. I'm not.
You are worried about day to day or even hourly moves. I'm more like the next few weeks or months.
BTW, I have never come across a really wealthy day trader. The guys that are rich are insiders, macro guys, the buy and hold guys and hedge fund guys. Don't get me wrong, some day traders do well, but on the whole they survive. They aren't really wealthy. This is just my observation generally and is the reason why I chose not to day trade.
I have come across several wealthy traders in my life (energy traders, FOREX traders, bond traders, etc...). Traders are needed in order to provide liquidity to the market and for price discovery. Not everyone can be a "buy and hold" type person or there would be no liquidity in the market. If bitcoin ever becomes mainstream, there will actually be MORE traders than there are now since investment banks & hedge funds will have teams trading bitcoin on the open market. Not to mention there will be a robust bitcoin derivatives market as well.
This should be obvious to anyone with half a brain.
Nice. And I'm taking the bait. All those guys trading are living pay check to pay check. The guys that are making the real money setup the system that tells them how to trade.
The wealthy guys are buffet, soros, chanos, Paulson, ackman etc... They pay day traders to execute their strategies.
That much is obvious to my little half brain. Maybe I can learn from you.
Its no longer the case. Big guys use Algotrading.
Everytime i hear of day traders, i think ...."unemployed" champ. Yes since they can have live data feed and trade on computers, kids think they can gamble the market and make money. Then they start reading about trading, going to seminars that teach them "how to get rich - its so easy even your gramma can do it".
Algotrading still needs human involvement. Hell, there is "algotrading" going on right now in the bitcoin market with bots.
Agreed.
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
In the short term, I agree that there is selling pressure. I can see why you might be agitated by my comments. You are short term. I'm not.
You are worried about day to day or even hourly moves. I'm more like the next few weeks or months.
BTW, I have never come across a really wealthy day trader. The guys that are rich are insiders, macro guys, the buy and hold guys and hedge fund guys. Don't get me wrong, some day traders do well, but on the whole they survive. They aren't really wealthy. This is just my observation generally and is the reason why I chose not to day trade.
I have come across several wealthy traders in my life (energy traders, FOREX traders, bond traders, etc...). Traders are needed in order to provide liquidity to the market and for price discovery. Not everyone can be a "buy and hold" type person or there would be no liquidity in the market. If bitcoin ever becomes mainstream, there will actually be MORE traders than there are now since investment banks & hedge funds will have teams trading bitcoin on the open market. Not to mention there will be a robust bitcoin derivatives market as well.
This should be obvious to anyone with half a brain.
So i have come across some dude thats rich because of hitting jackpot at casino, that means i should go to casino every day? dream big right?
Apparently, you dont even have half a brain.
You must not even have half a brain because everything is traded. Commodities, energy, stocks, bonds, currencies, etc... Trading is an essential part of any market.
The reason for the massive volatility in bitcoin right now is because it is still a relatively illiquid market. Also, trading platforms have not matured to the level that more sophisticated trading is possible. Trading is not gambling if you can hedge you trades in a derivatives/options market. Right now bitcoin is too new to take advantage of good hedging, but that doesn't mean that it will never be. If adoption rates increase, then the volatility will decrease and trading will be less risky.
However, trading is here to stay.
Agreed.
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
In the short term, I agree that there is selling pressure. I can see why you might be agitated by my comments. You are short term. I'm not.
You are worried about day to day or even hourly moves. I'm more like the next few weeks or months.
BTW, I have never come across a really wealthy day trader. The guys that are rich are insiders, macro guys, the buy and hold guys and hedge fund guys. Don't get me wrong, some day traders do well, but on the whole they survive. They aren't really wealthy. This is just my observation generally and is the reason why I chose not to day trade.
I have come across several wealthy traders in my life (energy traders, FOREX traders, bond traders, etc...). Traders are needed in order to provide liquidity to the market and for price discovery. Not everyone can be a "buy and hold" type person or there would be no liquidity in the market. If bitcoin ever becomes mainstream, there will actually be MORE traders than there are now since investment banks & hedge funds will have teams trading bitcoin on the open market. Not to mention there will be a robust bitcoin derivatives market as well.
This should be obvious to anyone with half a brain.
Nice. And I'm taking the bait. All those guys trading are living pay check to pay check. The guys that are making the real money setup the system that tells them how to trade.
The wealthy guys are buffet, soros, chanos, Paulson, ackman etc... They pay day traders to execute their strategies.
That much is obvious to my little half brain. Maybe I can learn from you.
Living paycheck to paycheck. LOL!!!!
You are just mad about the volatility. Traders are here to stay. I repeat again in case you don't understand: THERE ARE ONLY GOING TO MORE TRADERS IN THE FUTURE NOT LESS.
Agreed.
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
I'm just one of these little day traders trying to figure out WTF is going on, and what news might come out regarding Chinese exchanges (and accordingly what weight people will give it).
In the short term, I agree that there is selling pressure. I can see why you might be agitated by my comments. You are short term. I'm not.
You are worried about day to day or even hourly moves. I'm more like the next few weeks or months.
BTW, I have never come across a really wealthy day trader. The guys that are rich are insiders, macro guys, the buy and hold guys and hedge fund guys. Don't get me wrong, some day traders do well, but on the whole they survive. They aren't really wealthy. This is just my observation generally and is the reason why I chose not to day trade.
I have come across several wealthy traders in my life (energy traders, FOREX traders, bond traders, etc...). Traders are needed in order to provide liquidity to the market and for price discovery. Not everyone can be a "buy and hold" type person or there would be no liquidity in the market. If bitcoin ever becomes mainstream, there will actually be MORE traders than there are now since investment banks & hedge funds will have teams trading bitcoin on the open market. Not to mention there will be a robust bitcoin derivatives market as well.
This should be obvious to anyone with half a brain.
Too many people with fiat waiting to scoop up cheap coins. Only way it will reach single digits is if there is a serious crackdown on btc. If it reaches single digits there is a good reason for it and it is unlikely to rise up again.
People are playing the holding game now; though after the China got out of the game I have a hard time seeing how the price can go back to $1000.
Anyone claiming bitcoin will reach $10 again is trolling.
However, pretending that bitcoins won't get cheaper in the coming days is also tolling. The Chinese haven't finished dumping their coins. BTC could easily get into the $300-$400 range for a while if the Chinese completely liquidate their BTC holdings.
Hello. Nice to hear from someone in China.
My guess is there are going to be several people in your position that will be buying bitcoins on the cheap and then dumping them on the non-Chinese exchanges and cashing out into a non-Chinese bank account. It is a license to print money that is too good to pass up. Remember, it only takes a few rich Chinese people to buy tons of BTC on BTC China at fire sale prices and then turn around and dump them for profit on the non-Chinese exchanges. The reality has to hit most of the traders in China eventually that they will be stuck with BTC that can't be cashed out if they wait too long to sell.
That is why I think the market still has a ways to go before it bottoms out.
My guess is there are going to be several people in your position that will be buying bitcoins on the cheap and then dumping them on the non-Chinese exchanges and cashing out into a non-Chinese bank account. It is a license to print money that is too good to pass up. Remember, it only takes a few rich Chinese people to buy tons of BTC on BTC China at fire sale prices and then turn around and dump them for profit on the non-Chinese exchanges. The reality has to hit most of the traders in China eventually that they will be stuck with BTC that can't be cashed out if they wait too long to sell.
That is why I think the market still has a ways to go before it bottoms out.
My thoughts exactly.
Of course a very small percentage of Chinese will be able to take advantage of the fallout. Even if a a few of them are large players, however I think they will still represent a small percentage compared to BTC China at its peak.
Thus much lower prices on BTC China in the future relative to other exchanges, and lower prices on other exchanges until those with this opportunity have cashed out.
I think this process is happening now, but won't start ramping up until the PBOC gives some official statement, which I expect soon.
Very interesting. Thanks for the update.
Hello. Nice to hear from someone in China.
My guess is there are going to be several people in your position that will be buying bitcoins on the cheap and then dumping them on the non-Chinese exchanges and cashing out into a non-Chinese bank account. It is a license to print money that is too good to pass up. Remember, it only takes a few rich Chinese people to buy tons of BTC on BTC China at fire sale prices and then turn around and dump them for profit on the non-Chinese exchanges. The reality has to hit most of the traders in China eventually that they will be stuck with BTC that can't be cashed out if they wait too long to sell.
That is why I think the market still has a ways to go before it bottoms out.
My guess is there are going to be several people in your position that will be buying bitcoins on the cheap and then dumping them on the non-Chinese exchanges and cashing out into a non-Chinese bank account. It is a license to print money that is too good to pass up. Remember, it only takes a few rich Chinese people to buy tons of BTC on BTC China at fire sale prices and then turn around and dump them for profit on the non-Chinese exchanges. The reality has to hit most of the traders in China eventually that they will be stuck with BTC that can't be cashed out if they wait too long to sell.
That is why I think the market still has a ways to go before it bottoms out.
I've cashed out but this is not the end.
If one examines the one day chart of btc at http://bitcoinwisdom.com/markets/btce/btcusd one can clearly see that we are in the midst of a steep multi-day down-trend. There are still opportunities for profit for day traders but I will be having a break from that for a while.
If one examines the one day chart of btc at http://bitcoinwisdom.com/markets/btce/btcusd one can clearly see that we are in the midst of a steep multi-day down-trend. There are still opportunities for profit for day traders but I will be having a break from that for a while.
Cashing out makes a lot of sense right now.