@JayJuanGee

I appreciate your input (I really do) but if you can say something in 10 words instead of 1000, do it.

(06-21-2017 12:39 AM)JayJuanGee Wrote:  

(06-21-2017 12:03 AM)Armogan Wrote:  ^^No you seem to not have an understanding of what was going on. Why is it you must critique and write 10x paragraph responses to every post that isn't BTC maximal crazy. FUDster to the core.

I saw it happen live. You don't know what you are talking about. Spreading illegible misinformation again.

Moving on.

O.k. I am waiting for you to enlightenment us on these various topics.

I think that you were referring to my above post discussion of how to more accurately describe ETH market movements, no?

I understand that attempting to describe the market movement while it is happening can be a little bit different from attempting to describe such market movement after the lapse of a bit of time, so in that regard, my description of today's ETH market movement would have been different from DarkWing Buck's description because my post was written 10 hours later.

Are we getting into actually being wrong about direction or having different opinions about how to describe market movements?

For example, we may have different opinions about what is driving the market, too, and we could be weighing some factors differently, too.

Post the various charts you were looking at maybe and how you were able to draw your conclusions? Obviously not every crypto marketplace is the same.

(06-21-2017 07:08 AM)Gmac Wrote:  

(06-21-2017 12:39 AM)JayJuanGee Wrote:  

(06-21-2017 12:03 AM)Armogan Wrote:  ^^No you seem to not have an understanding of what was going on. Why is it you must critique and write 10x paragraph responses to every post that isn't BTC maximal crazy. FUDster to the core.

I saw it happen live. You don't know what you are talking about. Spreading illegible misinformation again.

Moving on.

O.k. I am waiting for you to enlightenment us on these various topics.

I think that you were referring to my above post discussion of how to more accurately describe ETH market movements, no?

I understand that attempting to describe the market movement while it is happening can be a little bit different from attempting to describe such market movement after the lapse of a bit of time, so in that regard, my description of today's ETH market movement would have been different from DarkWing Buck's description because my post was written 10 hours later.

Are we getting into actually being wrong about direction or having different opinions about how to describe market movements?

For example, we may have different opinions about what is driving the market, too, and we could be weighing some factors differently, too.

Post the various charts you were looking at maybe and how you were able to draw your conclusions? Obviously not every crypto marketplace is the same.

I'm not going to post charts because what I saw at that time, was from my bitcoin ticker app on my Iphone and I do not have the exact charts any more because they are evolving charts that get updated with the passage of time. What i see on my phone now is different from what I saw then.. sure I can zoom out to a week in order to see the same thing, but the point does not matter too much, does it?

I have GDAX, BTCe, Kraken, and Poloniex on that app, and at the time of my response, the ETH price had dipped about 10% from about $355 to $320, and the recovery was to about $350 - less than the starting point. Sure some of those listed exchanges dipped more and some dipped less, so the range of the dip was between about 8% and 12%. But the recovery was about the same, recovering to a point that was lower than the previous starting point.

My point was not about any particular exchange, but questioning the suggestion that there was any "skyrocketting" going on in ETH at that time and with that dip, which I think I have already explained why I thought "skyrocketting" would not have been very descriptive about what was going on at that time, especially when the price recovered to a lower point than it was previously.

Of course you aren't going to post a chart because you don't know what you are talking about. You don't read charts correctly, and you know that the chart doesn't substantiate what you are saying. Claiming that the charts are different now doesn't make any sense either. The chart is the same now as when it happened. It's a snapshot of a point in time.

All you are doing is taking one word out of context, "skyrocketing", and doing your FUD tactics to spin the news and distort things.

Here's a chart below for you. As Darkwing Buck mentioned, it appears one of the ICOs hedged and cashed out large amounts of ETH.

You can see the 3 large candles, with the very low candlestick. In the span of 1 hour 120,000 ETH was sold, not exactly "testing support". The low candlestick indicates that this person/group either did a market order or a limit order much lower than the spot price. Essentially, they didn't care about slippage at all they just want to sell. People can make their own conclusions, however.

The reason this affects all exchanges is because there are massive trading bots. These bots go directly into the API of exchanges and are programmed to monitor price fluctuations at other exchanges. Some traders think this gives them an edge - react on one exchange based on activity on others.

Wasn't sure what to do yesterday morning watching everything flat. I'd cashed out USDT at 2600 BTC. Even the iota ico was flat.

Wish I bought into BTC at 2600 before morning run. Now it's too high.

Bought into ETH at 318. Hoping for a pump.

How are you guys determining your buy ins for day trades? I usually go by the two day high lows and trends. Unless there is major news.

(06-21-2017 02:26 PM)Armogan Wrote:  People can make their own conclusions, however.

Thanks for your interpretation and explanation, and you are correct that people can make their own conclusions.

(06-21-2017 02:43 PM)JayJuanGee Wrote:  

(06-21-2017 02:26 PM)Armogan Wrote:  People can make their own conclusions, however.

Thanks for your interpretation and explanation, and you are correct that people can make their own conclusions.

To conclude; people can make their own conclusions.

Also, can be called a fat finger dump.

I cannot determine exactly how many coins were dumped on GDAX in the USD/ETH pairing - just a short time ago, but it looks like several thousands of ETH were sold out the whole order book down to $.01.

Probably whoever had ETH buy orders in that dollar pairing on there will profit quite well, because appears to have been a fat finger dump that was only on that one USD/ETH pairing.

Something like this happened to me once on Gemini in which I had sell orders for BTC, and then someone bought BTC up from about $450 to about $2k, and then a couple of days later, Gemini reversed the affected transactions, which really pissed me off... and I stopped using Gemini for several months (even though now I am using them again)

From my understanding most crypto exchanges do not reverse those kinds of fat fingers transactions.

I'm watching how they do relative to btc. Not paying much attention to the value of alts in fiat terms, as then also need to factor in the btc fluctuations

(06-21-2017 02:41 PM)Travel Museums Wrote:  How are you guys determining your buy ins for day trades? I usually go by the two day high lows and trends. Unless there is major news.

Delete

(06-21-2017 01:00 PM)JayJuanGee Wrote:  I'm not going to post charts because what I saw at that time, was from my bitcoin ticker app on my Iphone and I do not have the exact charts any more because they are evolving charts that get updated with the passage of time. What i see on my phone now is different from what I saw then.. sure I can zoom out to a week in order to see the same thing, but the point does not matter too much, does it?

JJG, you know we do like your stuff but you must know when you are in over your head. Take a look at my pic below. Like Armogan I was watching this in real time. why is it I can come up with a chart and you can't?
https://ibb.co/d9wWOQ

anyone know about Antshares? the better Etherium of China

(06-21-2017 07:09 PM)Digimata Wrote:  

(06-21-2017 01:00 PM)JayJuanGee Wrote:  I'm not going to post charts because what I saw at that time, was from my bitcoin ticker app on my Iphone and I do not have the exact charts any more because they are evolving charts that get updated with the passage of time. What i see on my phone now is different from what I saw then.. sure I can zoom out to a week in order to see the same thing, but the point does not matter too much, does it?

JJG, you know we do like your stuff but you must know when you are in over your head. Take a look at my pic below. Like Armogan I was watching this in real time. why is it I can come up with a chart and you can't?
https://ibb.co/d9wWOQ

Thanks for providing that chart and welcome to RVF, Digimata.

Yeah looks like someone fat fingered that massive sell off today. I heard someone say it was 30 million dollars worth of ether that was sold, like JJG said, all the way down to the price point of 1 penny. Fucking insane.

Either that or someone intentionally did that which would make no sense to deliberately crash the price because they just sold off millions worth of ether for way below market price. Who knows though it could also be intentional manipulation.

That tanked the price for a bit and pretty much screwed over everyone with stop loss orders and sell orders out. A lot of ETH traders got fucked over hard today.

And this is why boys and girls...you do not let programs execute programmed trades for you. You do it yourself, fully aware of the situation.

This really seems fishy. I find it hard to believe someone with so much ether misclicked and caused this margin call to avalanche on accident and I also find it hard to believe someone legitimately wanting to liquidate would do so in such a stupid way, filling buy orders at mere pennies and losing hundreds of thousands of dollars.

This just doesn't make sense. Wonder if we'll ever get to the bottom of this. Apparently Coinbase has launched an investigation. The irony of course being that if they were implicit that they'll be "investigating" themselves...

(06-21-2017 07:13 PM)Kale_anonymous Wrote:  anyone know about Antshares? the better Etherium of China

Poor white paper. No info on dev team. Stay away from it.

(06-21-2017 07:56 PM)Cattle Rustler Wrote:  And this is why boys and girls...you do not let programs execute programmed trades for you. You do it yourself, fully aware of the situation.

80-90% of the trading activity comes from bots. No one making a killing with coins is staring at a squiggly line for 12 hours every day.

(06-21-2017 09:08 PM)LouEvilSlugger Wrote:  80-90% of the trading activity comes from bots. No one making a killing with coins is staring at a squiggly for 12 hours every day.

I just check quickly for trends when doing something on my phone, doesn't take much time. If it's going down, pay close attention and buy some up.

1 - It's not rocket science
2 - It's money you're willing to lose
3 - ETH has no way to go...but up, at least for the next couple of months. Can't go wrong with that.

(06-21-2017 08:26 PM)Darkwing Buck Wrote:  This really seems fishy. I find it hard to believe someone with so much ether misclicked and caused this margin call to avalanche on accident and I also find it hard to believe someone legitimately wanting to liquidate would do so in such a stupid way, filling buy orders at mere pennies and losing hundreds of thousands of dollars.

The more people I meet in crypto, the more I'm finding the market to be a venn diagram of tech geeks on one side, traders/finance guys on another, and only a tiny sliver of people who truly understand both. You'd be surprised how many in this space are computer nerds who know 100% of the technology yet barely comprehend the relationship between supply and demand.

It's completely possible this was all some techie who put a few grand into Ethereum during the initial crowdsale and ended up being a millionaire with no real knowledge of how to go about selling off his holdings.

Then again, maybe someone just sneezed while clicking their order through. Or it was a BTC (ETC?) whale looking to shake up the ETH market, sow FUD, that sort of thing. You never know with crypto.

How do you profit off that kind of mistake without leaving money on the table in open buy orders at ridiculously low prices??

I'm guessing get a margin account? Then use the leverage to only have a few bucks on the buy orders?

Who the hell would keep open buys on ETH at $13?? As far as I understand there are no options trades on ETH or other crypto... It would be nice if there were. Whatever exchange offers that is going to become the NYSE of crypto!

Here is another idea. If you are a long on bitcoin/eth keep that money on GDAX. it's one of the few exchanges that allows BTC/ETH and ETH/BTC trades. You can set the ridiculous open buys in those trades. So if either has a flash crash you borrow from the other to take advantage. Borrow from Peter to pay paul. Borrow from paul to pay Peter. So long as there isn't a simultaneous crash you're fine. Sneaky sneaky.

What the fuck, maybe I will get lucky.

(06-21-2017 10:18 PM)Travel Museums Wrote:  Who the hell would keep open buys on ETH at $13?? As far as I understand there are no options trades on ETH or other crypto... It would be nice if there were. Whatever exchange offers that is going to become the NYSE of crypto!

15 second google search bro. https://www.deribit.com/

(06-21-2017 10:18 PM)Travel Museums Wrote:  Here is another idea. If you are a long on bitcoin/eth keep that money on GDAX. it's one of the few exchanges that allows BTC/ETH and ETH/BTC trades. You can set the ridiculous open buys in those trades. So if either has a flash crash you borrow from the other to take advantage. Borrow from Peter to pay paul. Borrow from paul to pay Peter. So long as there isn't a simultaneous crash you're fine. Sneaky sneaky.

Your confused. The spike lower isn't in ETH/BTC it was in ETH/USD specifically on Coinbase. Your resting orders on ETH/BTC will do absolutely nothing if ETH/USD goes to a penny.

My vote is for A.) fat-fingered moron or B.) middle-class tech guy who got into ETH for pennies and is now a paper millionare, and he wants his money NOW before it becomes worthless. Everyone in the tech industry grows up hearing stories of people in the 90s tech boom who were, for the span of a few weeks, multi-millionaires based on the value of their stocks, only to see those stock options crash to worthlessness before they could be vested.

If I was sitting on 3 million of ETH right now, I'd probably just take the 3 million.

That was an epic flash crash. Another reminder to not leave your coins on exchange and set stop losses 'out of safety.' I saw some more horror stories today about people getting margin called or having their stop losses triggered at $80 or something and having their ETH sold for way under market value. The ETH/BTC pair has also been taking a beating. I should have closed when I was briefly in the green, but I'm still learning on the fly and almost got margin called after I woke up to that big fat red candle in the chart above. Had to add some more collateral to my account.

I'm holding my long open until the end of the month. Its funny how nothing has changed fundamentally with ETH yet the sentiment changes so quickly. We know that ICO demands are crazy right now and the network can't handle it atm, yet there's all this FUD now about ETH scaling when they have a clear roadmap and plan to resolve it? Meanwhile it looks like all the BTC maximalists are out in full force now because what, the scaling crisis is resolved because 80% of miners are now signalling for a compromise that neither side seems to want (Segwit2x)? Time for all the alt money to flow back to bitcoin now right?

Summary of why we've likely been bearish the last week:
-no big news. we've seriously been spoiled lately and there's probably a lot of moonkids who bought in late and have been panic selling or trading for other alts. Seems like a lot of random coins got pumped this week while ETH was down (LTC, Antshares, Firstblood, iconomi come to mind).

-Status ICO fucked up the network big time. I haven't properly done my research with this ICO, but I'm not really sure what all the hype was about. Seems like a basic chat app that people are hoping will get the normies to be open to ETH? It probably didn't help either that coinbase had a big warning sign about ETH transaction times up on the main dashboard (seriously, where's the one about bitcoin that should be up 24/7 then?)

-bitcoin miners signalling that they are nearing consensus on Segwit2x (80% miners signalling this now). Nevermind that this doesn't actually solve anything AFAIK, it will just prevent a disastrous hard fork on August 1 while only delaying the inevitable. Bitcoin unlimited guys still want their big blocks and what's gonna happen when the 2 MB hardfork has to be activated 6 months from now? Read more here: https:[email protected]/segwit2x-w...47e6326266

Just remember guys, whenever you think this is the time that the 'bubble' is truly popping, that crypto is gonna die entirely, that the random trolls who proclaim this is the top at 40, 80, 150, 200 and you need to get out and hold your precious fiat that is pree much guaranteed to be worth less next year...

I've discovered another use for arbitrage. Even if you only make 5 or 10 bucks per coin, you can accumulate a serious mountain of frequent flyer points if you do the buying on Coinbase.