kkaspar
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banned but not broken
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March 04, 2014, 03:17:56 AM |
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So, is there a consensus about what caused todays sudden price increase
The world is in love with Bitcoin and most realize it is a great value? All of a sudden, like that? A new perfume perhaps? Bitcoin pheromones. No, it was a miracle! Miracles like this only happen with divine intervention. Science, reason and common sense have no place with bitcoin. So, don't try to poison the purity of our faith with your so called "pheromones". |
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aminorex
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Sine secretum non libertas
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March 04, 2014, 03:19:27 AM |
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Bitcoin pheromones.
Remarkably apt comment. Like ants laying down trails with pheremones, traders making trades leave signals for their fellow travelers to bid/ask likewise, leading to momentum. AntMiners play on this. The ant is a metaphor, very au currant -- at least a couple of years ago -- for the Chinese proletarian. They can't signal through open channels, but by their deeds they lay down a trail, and by their numbers they secure it. |
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Vigil
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March 04, 2014, 03:19:53 AM |
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Which retarded bear here is Nikolay Kolev? That fucker is on every Bitcoin blog on the internet talking down Bitcoin. It must be a group of people. No singular retard could cover that much ground and have that many horrible conversations by himself.
https://twitter.com/nikolayLook at the long list of titles he gave himself, this guy needs some serious help. I think it is a good point he brings up though... is Bitcoin's ability to transact to the third world significantly better than a service such as Xoom? Maybe not a discussion for this thread though. |
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derpinheimer
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Merit: 1000
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March 04, 2014, 03:27:45 AM |
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That was weird, there was just an over 40 btc buy order at $702.13, which should have cleared off the sell wall, but the sell wall was unaffected, and the order was filled...
Hidden orders are a thing. No they arent. Sure are. Easy to do with Bitfinex. https://asktom.cf/index.php?topic=257358.0Some random place that no one uses, sure thing boss. Go record it happening. I've watched these charts way more than anyone should ever do, and not once did I see an order fail to match the best bid/ask. |
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Tyson95
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March 04, 2014, 03:35:38 AM |
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Bitcoin mentioned in Almost Human again tonight, expect moon X2
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SkRRJyTC
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March 04, 2014, 03:36:17 AM |
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That was weird, there was just an over 40 btc buy order at $702.13, which should have cleared off the sell wall, but the sell wall was unaffected, and the order was filled...
Hidden orders are a thing. No they arent. Sure are. Easy to do with Bitfinex. https://asktom.cf/index.php?topic=257358.0Some random place that no one uses, sure thing boss. Go record it happening. I've watched these charts way more than anyone should ever do, and not once did I see an order fail to match the best bid/ask. No one bought 50k coins on BFX yesterday... http://bitcoinwisdom.com/markets/bitfinex/btcusd |
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derpinheimer
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March 04, 2014, 03:38:51 AM |
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That was weird, there was just an over 40 btc buy order at $702.13, which should have cleared off the sell wall, but the sell wall was unaffected, and the order was filled...
Hidden orders are a thing. No they arent. Sure are. Easy to do with Bitfinex. https://asktom.cf/index.php?topic=257358.0Some random place that no one uses, sure thing boss. Go record it happening. I've watched these charts way more than anyone should ever do, and not once did I see an order fail to match the best bid/ask. No one bought 50k coins on BFX yesterday... http://bitcoinwisdom.com/markets/bitfinex/btcusdThe link he gives would lead me to this: https://www.trucoin.com/And regardless, there is no use for a dark 40 coin ask. So, again, prove it or its BS. A real dark ask would be hundreds at the minimum. |
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Davyd05
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March 04, 2014, 04:10:46 AM |
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So, is there a consensus about what caused todays sudden price increase
The world is in love with Bitcoin and most realize it is a great value? I wouldn't stop there.. maybe the world realized that bitcoin is divine and the code was sent down directly by god. Now there will be a 120 year long age of peace and enlightenment, while the entire world is mining for the same amount of coins, that a small group of people mined in 5 years. Ok, we get it ... you missed out on the early coins and you're jealous. Would you like some cheese to go with those sour grapes? Jorge why not ask why Russia's Stock market dropped 10-11% and their currency is trading at all time lows, and a general upward trend to commodities, oil, gold and bitcoin  |
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mccorvic
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March 04, 2014, 04:16:06 AM |
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Nothing unusual at all, it was simply oversold.
It's really amusing to me that people cannot seem to grasp this simple concept |
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Vigil
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March 04, 2014, 04:16:40 AM |
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Its going down.
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mccorvic
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March 04, 2014, 04:18:33 AM |
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Its going down.
to the paradise city? |
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derpinheimer
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Activity: 896
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March 04, 2014, 04:27:16 AM |
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Its going down.
You made me open the charts only to see that 400 coins were sold and $675 hasnt even fallen |
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JayJuanGee
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Activity: 4326
Merit: 13890
Self-Custody is a right. Say no to "non-custodial"
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March 04, 2014, 04:33:48 AM |
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Bitcoin mentioned in Almost Human again tonight, expect moon X2
define moon....... how much and when, approximately? |
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JayJuanGee
Legendary
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Activity: 4326
Merit: 13890
Self-Custody is a right. Say no to "non-custodial"
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March 04, 2014, 04:41:25 AM |
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So, is there a consensus about what caused todays sudden price increase
The world is in love with Bitcoin and most realize it is a great value? All of a sudden, like that? A new perfume perhaps? No. We simply bounced off the bottom of the exponential growth adoption trend that underlies the price rises to date. Nothing unusual at all, it was simply oversold. Edit: and you should have loaded up after I called the Gox bottom last week at 400. A problem is that NO ONE really knows the bottom.. and it is so scary when the downward momentum is happening b/c it tends to happen so quickly, and NO one really seems to know when or if the price is going back up... except for the whale-bot manipulators... and maybe they are even unsure at that point.. when the price is seemingly in freefall stages. NONETHELESS, I agree that if we are in fiat and waiting to get back in we do the best we can to set our buy price and amount before that moment happens. |
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ShroomsKit
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March 04, 2014, 04:42:16 AM |
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Its going down.
Yes. There is still way too much fear it seems. If there is no buying pressure for a few hours people will start dumping. There really seems to be this thing lately where people sell just in case there might be selling. |
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JorgeStolfi
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March 04, 2014, 04:43:27 AM |
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So, is there a consensus about what caused todays sudden price increase
[ ... ] Russia's Stock market dropped 10-11% and their currency is trading at all time lows, and a general upward trend to commodities, oil, gold and bitcoin At least it is a possibility... Some rich Ukranian or Russian buying bitcoin at any price? But the placement of the orders at Bitstamp seemed to be engineered to drive the price up, wasn't that the general conclusion? |
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Davyd05
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March 04, 2014, 04:48:33 AM |
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So, is there a consensus about what caused todays sudden price increase
[ ... ] Russia's Stock market dropped 10-11% and their currency is trading at all time lows, and a general upward trend to commodities, oil, gold and bitcoin At least it is a possibility... Some rich Ukranian or Russian buying bitcoin at any price? But the placement of the orders at Bitstamp seemed to be engineered to drive the price up, wasn't that the general conclusion? The support walls did help us rise, but only cause no one was interested in dumping 1600 coins. |
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MANofthePEOPLE
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March 04, 2014, 04:52:51 AM |
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I'm a little grumpy I didn't buy more at 500 range now. Wasn't expecting this fast upward movement. Hopefully we will go down one last time so I can buy and if not hopefully new ATH
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aminorex
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Sine secretum non libertas
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March 04, 2014, 05:01:18 AM |
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But the placement of the orders at Bitstamp seemed to be engineered to drive the price up, wasn't that the general conclusion?
Not hardly. The buyer(s) could have been more stealthy, but it's not at all clear that the buyer(s) were colluding, and if they are competing to get the same coins, they are going to have to move the market. If you're racing against other walls, you're pushing the price up, every time. Any collusion you get is usually through market signalling, and it's always loaded with 99.44% distrust of both the signal and the source. There's always going to be someone who pushes their pet theory of what's going on. Usually if it involves someone intentionally shooting their own foot, it's a bogus theory. In practice most folks dislike shooting their feet. They do it plenty often accidentally, but they at least try to avoid it. |
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shmadz
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@theshmadz
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March 04, 2014, 05:02:06 AM |
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WooHooo!!! fun times! I took all bitcoins out of the exchange after I got cleaned out of fiat at 450  waht with all the rumours about gox, and all that just wired a few coins back, think I want to open a position here. thinking of selling about 1/3 as soon as they get there... and then see if we're gonna re-trace. whaddya think? (keep in mind, these are $450 coins... I'm not against taking profits.) |
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