Holy ****, I should’ve done this but it’s too late for me to do this..
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The Bitcoin Thread
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Holy ****, I should’ve done this but it’s too late for me to do this..
yep and orders just got filled... so even tho the loss, im sitting with more BTC.. THANKS SAIYANZ
*SynergyX*
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lol just saw the usd price go from 8650 to 8420 in a blink of they eye.....
walls being busted like they don't exist
walls being busted like they don't exist
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These are the good days as far as I'm concerned. This is exactly the time to be hoarding as much BTC as you can in preparation for the next bull run. Blood in the streets and all that.
n00bs are panic selling and handing their wealth to the smart money as usual.
acidrain
Executive Member
It's likely the walls just disappeared at the signs of further downward movement.
Didn't see the wall at the time but if it was a relatively big one then that is the likely occurrence.
I'm seriously considering getting an overdraft or a loan at my bank, and transferring the moola to Luno to buy BTC. Decisions decisions......
SaiyanZ
Executive Member
Volumes on the chart I look at says 2230 BTC was traded in that instant (on Bitfinex).
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well just because you call something a wall doesn't mean it actually is a wall
Archer
Honorary Master
So you claim that 1400BTC was moved in a few seconds? Under 5 minutes if I'm feeling generous? Let's have a look...
For the entire hour from 15h00-16h00, volume on bitfinex was only 3000BTC. Let's see if anything exciting happened in that hour on closer examination... Largest 5 minute volume in that hour was 967, right about the time of your post (15h45-15h50). If we go further into the 1 minute interval within this 5 minute period the largest volume was 302BTC...
You can draw your own conclusions... It certainly is possible for 1400BTC+ to be moved quickly, but I'd hazard that 99% of the time there is a good portion of the wall that simply gets cancelled
MrGray
Honorary Master
You're presumably referring to the narrow world of exchanges and traders. I'm referring to the actual distributed Bitcoin blockchain ledger. It is not something that can be shut down, or "go out of business".
Archer
Honorary Master
It literally happened a week ago. And several times before that...
Hamish McPanji
Honorary Master
In the gambling world , this is called "I have a system" , even when playing games of luck with the casino having odds stacked against you.
And as with gambling, it constantly needs to be fed. So, loss of early spectacular gains , cause the most conservative of people to turn to a certain version of insanity. And plough in more until they have a net loss far exceeding what they put in.
Don't.
Imo you either have available cash to trade with or you don't trade at all. There will be plenty trading opportunities in the future either with Bitcoin or altcoins. Don't get into debt to make money.
Adenoid Hynkel
Executive Member
John Tempus
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I suspect he wants to take out a loan in order to buy on luno at 10% discount, move funds to international exchange and sell and hold USD. The only problem and biggest risk to this is the delay between him getting the loan/overdraft, moving the funds to luno to buy and moving the funds to international exchange and sell for USD. If he times it wrong in any way he could be stuck with no gain and potentially exponentially higher risk.
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