Searing
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Clueless!


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October 04, 2014, 12:09:13 AM

any reason why we drop so LOW? Embarrassed

from my imperfect understanding some china exchanges have "no fees' or really low fees to trade..people
can do what is known as 'wash trading"

see link

http://www.investopedia.com/terms/w/washtrading.asp


as you can read above that is not good...but to top if all off people are all taking this on credit

1x a month you have to cover your losses or be happy on your gains....ie no gains btc is tanking

well with all this wash trading and other activity ...(not legal in usa)

this helps drive price down as well as dumping to usd of all the giant farms..no one holding BTC

as much anymore.. BTC's price imho is at the mercy of manipulation in trades and short term

cash out at the big mining operations..and no consumers to balance this 3rd leg of the 3 legged chair


all this has panic'd everyone who got into btc before say $150 usd (note: that is when I will catch up on my panic FYI)
is proably ok

people who bought in a $950 usd as say newbies back then got in at... they are getting out asap

so newbie's flooded into mining and BTC in fall 2014...now they are flooding out in mass as well

hard to keep price high ...if all the support goes away

all great fun and games ..except all this stuff pushes the bottom for the next go around

anyway this could end below my $150 btc buy in last oct 18th so I should not joke