941700+ entries in 0.706s
tiberiusiv: its mathematically impossible for even 5% of
total bitcoiners
to all cashout
ThickAsThieves: i will concede
that generally buying and holding has been
the safest way
to invest in bitcoin and make profit
tiberiusiv: with
the remaining 20% being fought over by
the 99% percenters
tiberiusiv: in
the end i would say 1-2% of bitcoiners will control 80%+ of BTC
tiberiusiv: lending bitcoins for example
to people who sell
them for fiat, you will lose
tiberiusiv: since bitcoin has no bailout mechanism, alot of idiotic users ie
those
that use
their coins wrecklessly drop out
awkorama: at least in bitcoin
the
tail won't be
too long
Bugpowder: tiberiusiv:
that is
true in all
things
ThickAsThieves: the events of
the week can probably amplify or dampen
that effect as well
tiberiusiv: in bitcoin at
the moment, about 20% of
the users control 80% of
the coins
Bugpowder: The
tendency for downward moves during
the weekend is real.
Bugpowder: tiberiusiv: you are confusing an efficient market with
the mtgox market.
tiberiusiv: so it will be a natural
tendancy even in bitcoin for 1%
to have all
the wealth
tiberiusiv: look at
the bitcoin crowd for example, less
then 1% of
thetotal "community" contributes anything
tiberiusiv: theres a reason why its
the same people making
the $ over and over
tiberiusiv: trading is 0 sum, for someone
to make money
there has
to be a loser
tiberiusiv: for example majority of fund managers cannot even beat
the Sp500
tiberiusiv: 1% of
traders are profitable in
the long
term
tiberiusiv: yes and
theres a reason 99% of
them lose
tiberiusiv: people love
to rationalize and explain away why something is at X price
tiberiusiv: any new demand
that is held up by
technicalities is already priced in
ThickAsThieves: my name is
tiberius and everything you say has nothing
to do with anything
tiberiusiv: amazing
the level of ignorance of users.
tiberiusiv: first off bidders would already have been buying BTC, just
to flip
them
to
the new buyers if "wires clearing" bs. was
true
tiberiusiv: bugpowder: wires clearing has nothing
to do with anything.
Bugpowder: sunday night, when
the wires start clearing
gribble: There are currently 8894.1816 bitcoins offered at or under 70.0 USD, worth 602226.070138 USD in
total. | Data vintage: 0.0026 seconds
gribble: BTCUSD
ticker | Best bid: 61.40136, Best ask: 61.50110, Bid-ask spread: 0.09974, Last
trade: 61.50109, 24 hour volume: 167094.40968927, 24 hour low: 52.34560, 24 hour high: 71.79900, 24 hour vwap: 63.67427
kakobrekla: hackers should do code, finance people should do finance and mactards can go play in
the sandbox
smickles: heh, goat is asking me about my offer
to help people short s.mpoe
gribble: BTCUSD
ticker | Best bid: 62.52000, Best ask: 63.64999, Bid-ask spread: 1.12999, Last
trade: 63.64999, 24 hour volume: 165216.67676446, 24 hour low: 52.34560, 24 hour high: 71.99000, 24 hour vwap: 63.76409
Bugpowder: and
the partially funded one shows up as 92.39 BTC instead of 100 BTC
mjr_: not sure if
they show it, but
the end result is
that
there will be changes in
the book
that may not be expected
mjr_: not sure where
the complete book is
mjr_: there site is slow
too
mjr_: does
that include api?
Bugpowder: but
they are still listed on my own page as existing but unfunded.
Bugpowder: So I placed a set of bids at 45-50, and by bids at 30 and 35
that I no longer have funds for disappear from
the order bood
mjr_: do
they put
the orders closest
to
top of
the book or furthest
Bugpowder: The bids you don't have funds for are not listed on
the order book, starting from
the lowest price down.
Bugpowder: You can place more bids
than you have funds for
mjr_: Bugpowder: can you place more orders
than you have BP for?
mjr_: otc is a good price signal i
think
mjr_: because you basically choose what
to include
chmod755: ThickAsThieves, did you
try exchanges?
mjr_: that is
the obvious solution...
chmod755: mjr_, i prefer listening
to music
mjr_: anyways, my point is
that gox is probably a horrible signal
to listen
to
chmod755: ya, but if it changes from like a few
tx per month
chmod755: lol 1000
transactions of 1EUR?
mjr_: usually
those numbers should be
the same or maybe soft bp slightly higher
chmod755: ThickAsThieves, i could do something like
that in Europe
mjr_: Hard buying power is
the limit
to how many orders you can have filled
mjr_: that is
the limit
to how many orders you can place
chmod755: i don't have a bank account in
the US
tho
mjr_: what
that is called, by
the way, is Soft Buying Power
chmod755: ThickAsThieves, just make a minimum on
the bets
jurov: ThickAsThieves, i
think even $5 difference in exchange rate is insignificant in
the long run
gribble: BTCUSD
ticker | Best bid: 61.51000, Best ask: 61.99000, Bid-ask spread: 0.48000, Last
trade: 62.00001, 24 hour volume: 164600.00323438, 24 hour low: 52.34560, 24 hour high: 72.35000, 24 hour vwap: 63.77672
Bugpowder: wow.
The gox bid ask are soooo far off right now
chmod755: Bugpowder, game idea: bernankeDICE - bloat bank databases with small bank
transactions!
mjr_: if i can place an order...i can cancel
that order
jurov: it's just cause
there are more buyers and less sellers
there, so
to speak
mjr_: and
then pull
the plug
mjr_: i can make
the order book look really really
thick
mjr_: yeah, so you are sending manipulative signals into
the market
ThickAsThieves: cant use bitcoincentral when
they wasnt such a premium in USD
Bugpowder: I'm not sure if all will display on
the order chart if you don't have
the funds