$500 Bitcoin

o hai guyz said:
How is the Coinbase price still rising? If they aren't taking any new buy orders but are still accepting sell orders, shouldn't the exchange rate be dropping?
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no liquidity, wider spread, price rising. the macro point of an exchange is to find the correct price. as theres no demand, no price can be found, you dont want to sell too low so you aim a bit higher.
 


wayn3 said:
no liquidity, wider spread, price rising. the macro point of an exchange is to find the correct price. as theres no demand, no price can be found, you dont want to sell too low so you aim a bit higher.
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On Coinbase you don't choose your limits though, every trade is done at market price. They barred new buys as of this morning which means they have 0 outstanding buys but any number of sells.
 
o hai guyz said:
On Coinbase you don't choose your limits though, every trade is done at market price. They barred new buys as of this morning which means they have 0 outstanding buys but any number of sells.
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so maybe theres no depth because they lack market makers. cute. but my point holds. theres no point in having pending sell orders when nobody can take them out.
 
When people won't STFU about Bitcoin like this, you know it's going to absolutely plummet shortly. Unless you're in this for the long-term, sell now.
 
productionhead said:
BTC is going down. Back to 0. I'll be in then,
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Kiopa_Matt said:
When people won't STFU about Bitcoin like this, you know it's going to absolutely plummet shortly. Unless you're in this for the long-term, sell now.
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gQrUpE2.gif
 
Man this hearing is boring. Haven't heard this many monotone voices since we were asked to read passages from textbooks back in middle school.
 
Kiopa_Matt said:
When people won't STFU about Bitcoin like this, you know it's going to absolutely plummet shortly. Unless you're in this for the long-term, sell now.
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Holy shit, did I ever call that one. Look at Bitcoin fall like a rock. Expect $300 tomorrow.

Glad I cashed out earlier this afternoon. :)

Now if it wasn't for these stupid fucken withdrawal limits, I wouldn't have to wait like 10 months to get my money.
 
(O_o) said:
It dropped because someone sold off 2k+ BTC (1.1million USD). Absolutely nothing to do with the hearing IMO.
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No, it was sold BECAUSE of the hearing but only because it was a speculator removing his risk before a major event (the hearing).

But so far it doesn't seem too bad of a hearing for BTC.
 
Kiopa_Matt said:
Holy shit, did I ever call that one. Look at Bitcoin fall like a rock. Expect $300 tomorrow.

Glad I cashed out earlier this afternoon. :)

Now if it wasn't for these stupid fucken withdrawal limits, I wouldn't have to wait like 10 months to get my money.
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It's going back up already. Overall the hearing is definitely going in favor of bitcoin. If you were planning to sell and then buy back in at a significantly lower price it doesn't look like that's going to happen

@ (O_o) what software is that?
 
I'm doing my very best to bring Bitcoin down, selling my stash off coin by coin.

But it keeps going up despite my best efforts.

It's just house money now <shrug> where is my free rum and coke?
 
Hah, just hit $700, and when it did bitcoinity had an animation of Mr. Burns from the simpsons and his assitant guy throwing money at eachother... then it disappeared again.
 
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