All posts made by bito in Bitcointalk.org's Wall Observer thread
1.
Post 2179472 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
119 wall gone
2.
Post 2180493 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
You're completely wrong though. If you want to make a withdrawal from MtGox you simply do a wire transfer.
There are withdrawal limits for transferring cash out of MtGox though.
https://support.mtgox.com/entries/20919111-AML-Account-Statuses
3.
Post 2180597 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
US$50k+ means a 32 day wait for all your money if you are verified
4.
Post 2180646 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
Not quite - you just have to email them to increase it :
I think you are talking about “Trusted” Status (Level 2).
https://support.mtgox.com/entries/20919111-AML-Account-StatusesSays "All document required for "trusted” accounts must be notarized with apostille and sent by priority mail to the address at the bottom of this page."
5.
Post 2180744 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
No - here's the exact text from the website - be sure to read it all - especially the bit near the end where it says you just have to email them to increase the daily limit by upto 10x and the monthly limit by upto 5x :
Awesome, I'm glad you pointed that out to me, I wont bother with that then!
Although I think it's interesting that the 10 fold increase matches level 2 status.
6.
Post 2180865 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
This same thing comes up every day in the MtGox support channel on IRC - they should really make it clearer as a lot of people get verified and then don't appear to realise they can just increase the limits by sending an email in.
Well sorry for all the noise then.
However you must agree that since everything is not clear about Gox and verification and moving money around, it isn't surprising that SWIFT is not thought of as a option for the uninitiated. I'm comfortable with it now, after doing some smaller test transactions to determine what the interbank charges were, which fortunately are none for me. Becoming verified did take some time too, since their site said I didn't need to send my government issued ID, but it really was required.
7.
Post 2181456 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
I resisted the ignore button till now but this post pushed me over. Wasting my time to go to bitcoincharts looking for even tiny evidence of something...
Resistance is futile. Welcome to the collective.
8.
Post 2181930 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
we hit 120$ HARDCORE
Close but 199.9 I'm afraid. We've just touched it again. There's 1k of coins there.
9.
Post 2182079 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
I don't think I've ever seen over 1 minute of lag when there's a buying spree on before?
10.
Post 2192603 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
Often when trading is slow this thread descends into a petty flame war, it's very boring.
Hmm, I'm new here, but IMHO when trading is fast the price is moving fast and most of what happens is a mother load of redundant posts about the price change. I've been reading for a month before my registration date btw.
I'm not saying that boring flame wars don't happen when trading is slow. What I am saying is that when trading is slow I find the ratio of interesting information to noise in this
speculation thread is much easier consume than when trading is fast.
So I dispute your proposition that slow trading results in a boring thread. Unless I have misunderstood that the point is excitement rather than speculation.
11.
Post 2192827 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
Often when trading is slow this thread descends into a petty flame war, it's very boring.
Hmm, I'm new here, but IMHO when trading is fast the price is moving fast and most of what happens is a mother load of redundant posts about the price change. I've been reading for a month before my registration date btw.
I'm not saying that boring flame wars don't happen when trading is slow. What I am saying is that when trading is slow I find the ratio of interesting information to noise in this
speculation thread is much easier consume than when trading is fast.
So I dispute your proposition that slow trading results in a boring thread. Unless I have misunderstood that the point is excitement rather than speculation.
I'm not saying that the thread itself is boring, just that pointless flame wars can be. I'm here to try to gain some insight into trading better as opposed to an insight into how some people don't like other people, that I couldn't care less about. Different people have different views, which is to be expected but let's keep it (reasonably) polite, hey?
Hey, I am being polite! Maybe I forgot a smilie somewhere???
But I suppose here begins a pointless point - I stand by my original statement, and your response amounts to a straw man argument, because you have misinterpreted my point.
http://en.wikipedia.org/wiki/Straw_manDon't take it personally my friend, no offence meant, I just disagree with what you have said.
12.
Post 2193006 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
You have the right to disagree, all I'm suggesting is that we get on with discussing the topic of this forum rather than bitching at each other, there might not be any arguing going on now but there has been over the last few days. However, I haven't noticed you doing this with anyone so please understand that I wasn't referring to you, nor am I going to point the finger at anyone else either.
The people who actually were arguing don't even seem to be here any more, which means there's no point us discussing it so let's move on...
Anyway, as I said, let's get back on topic here. Having said that things are moving so slowly that there isn't much to say anyway, it just seems to be mostly bots swapping satosis at the moment. Hopefully things will pick up a bit later, but it's the weekend so maybe not. Maybe by Monday the trader bots will have gone insane and made multimillionaires of us all, hey?
Of course I have the right to disagree, we all have that.
What I am trying to say is that I prefer petty flame wars which happen when volumes are low, over the endless repetitive pointless posts (and images) when the price is moving.
Speculation is about talking about something that might happen, not when it
IS HAPPENING.
13.
Post 2193087 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
Can we stop discussing this now please? It's all been said already
Sure! If you're not sure press reply!
14.
Post 2197892 (copy this link) (by bito) (scraped on 2020-04-04_Sat_10.59h):
I don't like the idea of bots posting like this, it is just spam. The charts themselves are 99% unintelligible in my opinion.
Ban it I say, if the owner has something worth sharing, he can share it himself
You can always just hit ignore, the creator of the charts uses a different account when they have something to share.
I agree that the charts look boring right now and can be hard to read but I wont be ignoring them. The following two posts show how the ask wall at 120 was eaten, right after the buy wall at 118 was added.
https://bitcointalk.org/index.php?topic=178336.msg2181918#msg2181918https://bitcointalk.org/index.php?topic=178336.msg2182527#msg2182527
15.
Post 2235472 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.00h):
Well, if you are bullish, a wall like that means you don't get much price slippage when you buy.
16.
Post 2243317 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.00h):
Well, if you are bullish, a wall like that means you don't get much price slippage when you buy.
Many people have given this same slippage explaination over and over again since I joined this forum.
The reason I don't believe it is that I've always found it quite odd that someone would sometimes wait for the price to increase by as much as a dollar or two per Bitcoin until we hit a wall only to then buy it all to avoid slippage
My post was to suggest a possible reason for a big chunk of the 1000 BTC ask wall at 123 being eaten. If the wall was further away from the strike price then I think I'd agree with you. IIRC it was just under 123 with very thin asks in between.
IMHO a bullish buyer saw an opportunity to quickly pick up a lot of coins (660) at a fixed price. Wouldn't you prefer to get all your coins at a fixed price and let others lose on slippage as they push the price up?
Note that "quicky" means not having to sit for hours on Gox buying small amounts of coin at a time, or risk pushing the price up by setting a large bid, and finding all the speculators seeing this as a signal to push the price up.
17.
Post 2244072 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.00h):
Well, if you are bullish, a wall like that means you don't get much price slippage when you buy.
Many people have given this same slippage explaination over and over again since I joined this forum.
The reason I don't believe it is that I've always found it quite odd that someone would sometimes wait for the price to increase by as much as a dollar or two per Bitcoin until we hit a wall only to then buy it all to avoid slippage
My post was to suggest a possible reason for a big chunk of the 1000 BTC ask wall at 123 being eaten. If the wall was further away from the strike price then I think I'd agree with you. IIRC it was just under 123 with very thin asks in between.
IMHO a bullish buyer saw an opportunity to quickly pick up a lot of coins (660) at a fixed price. Wouldn't you prefer to get all your coins at a fixed price and let others lose on slippage as they push the price up?
Note that "quicky" means not having to sit for hours on Gox buying small amounts of coin at a time, or risk pushing the price up by setting a large bid, and finding all the speculators seeing this as a signal to push the price up.
BTW, I don't consider 660
BTC that huge amount of coins. You can make a market order for that quantity and the slippage is minimum. If we speak about +1,500
BTC... Well, that's another story.
I'm new to BTC and a bit naive about trading, so my understanding could be wrong. But I get the feeling that 660 BTC is a bigger amount with the relatively smaller volumes this week.
I am interested in any other theories why someone would buy 660 coins into that wall. My theory was that it's a day trader who saw an easy way to enter a position. Maybe it could be a newbie who doesn't know better?
In any case I wish I'd bought some too at $123!
18.
Post 2251209 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.00h):
Agreed, moonshot bids for $20 coins don't really count. I keep meaning to create an index that divides each bid/ask by the % distance from the current MMR. I think it would be much more insightful. I just can't square the maths to adjust for the fact that bids only differ by 100% but asks can be many 1000% higher. Anyone know how to properly adjust for that?
Simple, just base it on the logarithm of the price.
Thanks, but I think I've got it now. It's simpler than that.
One re-bases the order book so MMR is 1. lets call it $125. A $100 dollar bid at $10 dollars gets weighted by 0.08. An equally weighted ask of $100 would be priced at $1562 (the price at which current MMR represents only 8%.)
So who do I need to beg for historical daily snapshots of the full depth API?
I'll pitch in half the 200btm if you share it with me.
19.
Post 2258296 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.00h):
20.
Post 2263164 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.00h):
Agreed, moonshot bids for $20 coins don't really count. I keep meaning to create an index that divides each bid/ask by the % distance from the current MMR. I think it would be much more insightful. I just can't square the maths to adjust for the fact that bids only differ by 100% but asks can be many 1000% higher. Anyone know how to properly adjust for that?
Simple, just base it on the logarithm of the price.
Thanks, but I think I've got it now. It's simpler than that.
One re-bases the order book so MMR is 1. lets call it $125. A $100 dollar bid at $10 dollars gets weighted by 0.08. An equally weighted ask of $100 would be priced at $1562 (the price at which current MMR represents only 8%.)
So who do I need to beg for historical daily snapshots of the full depth API?
I'll pitch in half the 200btm if you share it with me.
Bingo. Thanks. I almost missed that reply. I'll get in touch with the dude after some tests on the old data.
As an aside; I can't help but feel I'm re-inventing the wheel here though. Brokers have had Level 2 data for years, why don't we have common TA indicators for depth like we do for Volume and Price. Am I missing something? Is this kind of thing common in CFA textbooks?
I suspect that brokers have exclusive access to certain information(s) in traditional markets, such as live changes to the order book. So my guess is that there is quite a lot of reinventing of the wheel by competing brokers, because this elitist group are all in competition with each other and there's no incentive to share.
NIKKEI wall observer thread
edit: I agree with Miz4r. NIKKEI 225 is not bitcoin, niothor. 7% swings are not routine; in fact, they are quite alarming in the current market environment. Bitcoin behaves like a penny stock so it's OK to pass off huge swings by saying "Oh it's still higher than it was a month ago." The NIKKEI is what we call a "real world market" with "big boys" and "real companies" and "real exchanges that don't suck"
Not as simple as just ignoring a 7% dump like we can do with bitcoin.
I've often thought about how much brokers in traditional markets are applying their TA to BTC. Probably not too much ATM. I can't say I dislike BitcoinAshley's description of BTC as a penny stock! We're very much in the infancy of BTC.
21.
Post 2368229 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.02h):
What's happening is all these companies are realizing it's dangerous to do business with bitcoin exchanges or any online payment system. Technocash probably looked at the Dwolla seizure, Liberty Reserve, Perfect Money's recent actions - and was like FUCK THAT. We ain't gettin our hands dirty.
So we are seeing fewer and fewer funding and withdrawal methods. According to the logic of some, price should have tanked already, each time news like that came out and the effect hit.
Wouldn't a series of such stories potentially have a cumulative effect? What if a major bank decided to refuse MtGox transactions too?
Tin foil hat and cheap coin collection tin on standby...
From some comments on the MtGox facebook wall
http://www.smh.com.au/business/austrac-eyes-6b-money-laundering-case-20130529-2nbfl.htmlMaybe MtGox are being proactive and don't want to associate themselves with a business linked to LR?
Technocash were not good value anyway, 4% fee. Wire transfers are a fixed fee and arrive in the same time.
22.
Post 2440328 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.03h):
Isn't that gambling, defined? Some day traders do more than simply watch the price & ignore past performance etc.
...You only saw the massive swing from doubles to 250+ because of a huge influx of new players. If that phenomenon never happens again, you can completely forget about ever seeing $200B again, let alone higher.
+1 Couldn't agree more
So to rephrase it in a more positive light, aren't you also saying that all BTC needs is a huge influx of new players for a massive swing from the low $100B to $200B+ again?
Or massive inflation
I think you mean deflation
23.
Post 2466069 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.04h):
In other news: guys, time to sell. Really.
What? Has it reached $300k/m
BTC already?
Almost - anyhow, I'm just trolling. You guys know i'm a long term perma-bull
Is there anyone who is not?
Those who held 100% fiat and waited for the price to drop to $2 one more time, back in 2011. Ooops
Interesting difference with 2011, trading levels remained at new highs (ish) all the way down ( line = price, points = volume):
http://i.imgur.com/qa5eq4K.gifBut this time, fewer and fewer people are interested post-peak of the bubble, perhaps because most folk know what's coming and don't support the price :
http://i.imgur.com/jM1Ks5y.gif I'd be interested in seeing a plot of those two graphs with the right volume axis being in terms of the percentage of total minted BTC for values on the X axis.
EDIT: And also with the left and right axis normalised on each chart
24.
Post 2466197 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.04h):
In other news: guys, time to sell. Really.
What? Has it reached $300k/m
BTC already?
Almost - anyhow, I'm just trolling. You guys know i'm a long term perma-bull
Is there anyone who is not?
Those who held 100% fiat and waited for the price to drop to $2 one more time, back in 2011. Ooops
Interesting difference with 2011, trading levels remained at new highs (ish) all the way down ( line = price, points = volume):
http://i.imgur.com/qa5eq4K.gifBut this time, fewer and fewer people are interested post-peak of the bubble, perhaps because most folk know what's coming and don't support the price :
http://i.imgur.com/jM1Ks5y.gif I'd be interested in seeing a plot of those two graphs with the right volume axis being in terms of the percentage of total minted BTC for values on the X axis.
come again?
I"ve only been around watching the BTC for the last 3 months, and one thing that stands out when zooming out to the full picture volumes where much higher when BTC was valued lower (and when there were less BTC minted). Now it takes less BTC from whales now to "move" the market. So maybe this is because there are more BTC in the market. Is that a good theory?
EDIT: My theory is probably wrong, but it's an interesting observation, and it would be good to see a chart that takes into account the available BTC participating in volume for such charts
EDIT2: Maybe it's a price weighted volume that I think would be more insightful.
25.
Post 2466739 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.04h):
I"ve only been around watching the BTC for the last 3 months, and one thing that stands out when zooming out to the full picture volumes where much higher when BTC was valued lower (and when there were less BTC minted). Now it takes less BTC from whales now to "move" the market. So maybe this is because there are more BTC in the market. Is that a good theory?
EDIT: My theory is probably wrong, but it's an interesting observation, and it would be good to see a chart that takes into account the available BTC participating in volume for such charts
It's important to remember the value required to create volume in Bitcoin exchanges.
If Bitcoin is valued at $10, then $100 can move 10
BTC, but if Bitcoin is valued at $100, then $100 will only move 1
BTC.
On Bitcoincharts.com, at least, if you view all data, click the checkbox on the right to show "Volume in Currency"That will illustrate the difference.
Yeah, that makes more sense, I did do a second edit suggesting that this might be a factor.
I think the chart would be interesting plotting that value on the right axis, with both charts having their logarithmic axis normalised (as they're not really the same charts atm).
I"ve only been around watching the BTC for the last 3 months, and one thing that stands out when zooming out to the full picture volumes where much higher when BTC was valued lower (and when there were less BTC minted). Now it takes less BTC from whales now to "move" the market. So maybe this is because there are more BTC in the market. Is that a good theory?
EDIT: My theory is probably wrong, but it's an interesting observation, and it would be good to see a chart that takes into account the available BTC participating in volume for such charts
you're confusing me, and that's my job...
In terms of the relationship to the price, using % volume would change the values but wouldn't affect the temporal relationship with the price....maybe.
It's late for me and I should have thought a little more before commenting. Off to bed.
26.
Post 2636219 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.08h):
Disclaimer: I know nothing about EFTs and TLDR the Winklevii document.
I wonder what the tax implications of the Winklevii moving their BTC into this EFT trust are. They would not need to pay any capital gains tax, since they've not realised their profits. But what about the shares they are selling?
27.
Post 2646240 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.08h):
I think people are betting on MTGox being competent tomorrow. What if they announce that they still haven't got their bank up to scratch and it will be another 2 weeks until you can withdraw?
No no, no chance of a bounce at all.
Bull traps always happen and often times quite violently, but deluded bulls will say it's the emergence of a new bull market because China Winklevoss Argentina Turkey Cyprus instead of selling. I won't make any efforts to predict them, and I'm not at all actively trading.
Thanks but once again, I'm looking for a good point to short with the lowest possible risk. Just dumping everything on the market right now might cause me to miss the bottom. Yes,
I believe we are that close to it.because....
by the way, I love how your picture is so perfectly in tune with your forum personality.
Shit... that is a picture of me on Galveston beach. What exactly are you trying to say here chief??
He might be referring to your attitude?
28.
Post 3500266 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.20h):
I can understand everyone being suspicious of walls, but what if these mini 1k walls are the original 10k wall split up. Maybe the owner really wanted to liquidate the coins, but the size and timing of the wall at 273 meant that no-one was game to go near it.
29.
Post 3549050 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
I see over 8 minutes of lag on gox (from i286). Now 9. Can anyone else confirm?
30.
Post 3549116 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
I see over 8 minutes of lag on gox (from i286). Now 9. Can anyone else confirm?
Seeing the same.
Recently I have only noticed very short lag on gox (tens of seconds), which always seemed to clear up very fast.
There must be something wrong, it's still going up.
31.
Post 3549208 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
I see over 8 minutes of lag on gox (from i286). Now 9. Can anyone else confirm?
Seeing the same.
On Bitcoinity there seems to be a lag on the BC/EUR prices, but not on the BC/USD ones.
Can confirm too. Now it has 18 minutes. See at RTBTC.
Well I'm glad no-one is panicking. Other exchanges holding their price.
32.
Post 3549272 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
Can confirm too. Now it has 18 minutes. See at RTBTC.
Well I'm glad no-one is panicking. Other exchanges holding their price.
this is not April. Why should some1 panic...?
That's what I mean, April was stressful! Gox doesn't have the hold on the market anymore, it's good to see issues like this not causing panic.
33.
Post 3549325 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
No, it has 36
34.
Post 3549459 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
So i thought Gox said they were immune to ddos when they got on the Akamai network?
The problem might be to do with their backend, the website is up. It's like the trading engine is off.
35.
Post 3549578 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
My money is on a hardware failure and their failover hasn't worked due to it all being new gear and not properly tested.
I think they have have taken the website offline to stop new orders.
Edit, no it's back up
36.
Post 3549702 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
Good opportunity to catch up on some sleep I think.
37.
Post 3549782 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
LOL, trading.i286 has lag overflow! Currently at 21 minutes, bitconity says 81.
Are they really that new to publishing gox metrics?
38.
Post 3549853 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
ANyone know if withdrawls are still working on gox
I initiated a small test bitcoin withdrawal 20 minutes ago and it submitted but the page is stuck on "withdrawing". I don't think the website can talk to the database.
39.
Post 3556059 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
Looks like 2000ish coins got pulled from 385 on gox. I think it has been moved to 400.
40.
Post 3556465 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.22h):
what about that 2000 coin ask at 385 that has now disappeared? it didn't look like it would get bought up tonight at the slowish rate (in comparison to the last week) we are moving at. but why was it there? what was the seller trying to do, if anything? why did he take it down now? sum ask still around the same level though
It got moved to 400
41.
Post 3623725 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.24h):
There must be something wrong with i286's bid sum (12.7M) & ask sum (5800B). Roughly half whats on the blockchained chart
http://www.blockchained.com/depth_mtgox_15d.png
42.
Post 3634436 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.25h):
Does anyone know if it takes just as long to get goxbux out of gox/AUD?
is it only Us dollars which are the problem? or does that extend to Australian goxbucks too?
I have a friend who initiated his withdrawal about 7 weeks ago, AUD in his account to an Australian bank.
I told him to just buy back in 2 weeks ago but he really needs the cash.
Does anyone have any knowledge of how long swift transfers take from stamp to AU?
And in case anyone is thinking, my friend is not me, I am 100% in BTC.
43.
Post 3721764 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.29h):
Is it just me, or are "posturing" walls that get pulled quickly when they are at risk of being eaten much more rare these days than they used to be?
Ask walls in a bullish market represents a great way to avoid slippage for big buyers
44.
Post 3721869 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.29h):
Lies,
No new money would use Gox. This is old fiat, with cobwebs on it from Gox's cellar.
The bid sum is at a record high, I suppose it could be that this is because money that wasn't on the table now is, but I think it is unlikely.
45.
Post 3831523 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.32h):
What's the deal in Aus anyway? How do they even know the money you recieve is Bitcoin related, or how long you've owned those coins (assuming the over one year - 50% cap gains applies)?
well you know we're all spied on these days, actually the bank could possibly notify the tax office if money comes from an exchange - the strange thing is we don't pay tax on winnings from lotteries or gambling, you'd think high risk investments would fit into that category.
The reason why in AU we don't pay tax on lottery or gambling winnings is because our lottery or gambling costs would be tax deductible if so.
Regarding capital gains tax, I believe that the tax you pay is the same as if it was part of normal income. So you would only pay near 45% if you were already earning over 180k. It is an honesty system, you are free to not declare, but audits are not fun, the presumption of innocence is reversed. You have to prove you are not guilty, not the ATO having to prove you guilty.
46.
Post 3835267 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.32h):
$900k bid wall at 950 on bitstamp
With people using mBTC and BTC, it's probably better to quote the size of the wall in BTC not $. So it would be a 900ish BTC bid wall. I thought you were talking about 900k mBTC for a second there.
47.
Post 3950402 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.37h):
Bitcoin, why u do this to me?
Welcome to the club.
Please take a seat in one of the many dark corners. Please ignore quiet sobs coming from the other members.
I haven't accepted my losses, though, so I am all fiat still, trading a little on the ebb-and-flow inbetween.
I've lost 4.5k and it's now on the level I would be 1-1.5k at loss.
But fuck it, that's why it is fun, there's still lot more good moments than bad
Guys. If I had just hold all the time I would be a multi millionaire, in dollars, today. Just saying.
Sorry to pick on your post, but I've been meaning to say words to this effect for a while.
You would only be a
theoretical multi millionaire (in dollars) if you had just held.
BTC owners will eventually sell, whether it be to cash out (ie, I want to realise some of my profits now, or limit my losses), or they want to panic the market.
It is people who have a healthy balance of BTC and cash in their trading account that actually support the price when new money runs out. It's not all about how many coins you have, but what are they worth. This point may very well be lost on a lot of people.
I don't recommend trading unless you have a well thought out and tested strategy, but it ain't rocket surgery.
PS: Love your work rpietila
48.
Post 3986596 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.38h):
Okay opinions aside on the merit in comparing the bid and ask sum, i286 is reporting a different number ($38.2M bid, B41.6K ask) from blockchained (~$34.5M / ~B34K).
What's the authoritative source?
This was posted earlier, way off, maybe a typo? Or is it in a different currency?
Just on MtGox we have $60m in bids....$60k in asks.
I believe it is easy to manipulate the price upwards with low buy volume but try to drop the price by selling...
49.
Post 3990063 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.38h):
Whoever made the move - put that 870 wall in to put a little lid on it...
A few coins to take the world markets down this much is cheap for a manipulator.
But the market is way bigger than this move.
People will not want to sell at much below here, but they will want to buy.
HOLD.
The 621 coins that were at 870 were pulled after about 15 coins were bought into it. These coins mysteriously appeared when the 621 coins that had been at 915 for quite a while disappeared.
I call a bear trap.
EDIT: On gox
50.
Post 3992395 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.39h):
Whoever made the move - put that 870 wall in to put a little lid on it...
A few coins to take the world markets down this much is cheap for a manipulator.
But the market is way bigger than this move.
People will not want to sell at much below here, but they will want to buy.
HOLD.
The 621 coins that were at 870 were pulled after about 15 coins were bought into it. These coins mysteriously appeared when the 621 coins that had been at 915 for quite a while disappeared.
I call a bear trap.
EDIT: On gox
What do you know, 600ish odd coins at 850 were pulled when the price got within $5
It would be nice if someone took them off their hands
51.
Post 4097739 (copy this link) (by bito) (scraped on 2020-04-04_Sat_11.45h):
According to i286 ticker, ask sum is approaching 60k coins. Is that accurate or is the API screwed up again?
Does that page add up asks on multiple exchanges? I just did it manually with MtGox, Bitstamp and BTC-E and got at least 69k. On MtGox, it's 33k right now.
i286 has been wrong IMO since the 2nd correction from the china news. If it is doing a combined sum from all the exchanges then good, but then again that's not good putting it on a page along side metrics for gox only data.
www.blockchained.com order book 15 days chart is on the money I believe, it agrees with the summary here
http://www.cryptocoincharts.info/v2/pair/btc/usd/mtgox/10-days
