Bitcoins are officially donkdown

[monsterj]

I have a new favorite poster.

On a much much smaller scale you see this all the time in any other market. Traders push the price down and try to trigger sell stops or worse. Rinse out the weak hands. They know what you see on the charts and the fear that might trigger. You punt and they scoop. Or they are short and they try to trigger fear. Or both.

It's poker and it's all part of the game.

Ethereum is a thin small market so it doesn't take much. I saw talk that the number was $30 million - who knows? That's not small change but in light of the numbers occurring in these ICO's it's conceivable in my mind.

You have new players with a shiny new Coinbase GDAX platform (all lit up with margin) and very limited tools offered. I looked quickly and we are talking some very primitive order types.

It is also inconceivable to me that anyone with $30 million would innocently place a huge market order. Market order equals "hey just get me whatever price is out there, I'll be happy with that". Not one nitwit trader does that. People place limit orders and hope for a match - they might keep adjusting their price but no one places market orders.

Anyone in the Ethereum market prolly has an IQ greater than your average bear. The whole crypto thing is an extreme exercise in abstract thinking to beginning with. Trading really isn't hard to figure out. They knew exactly what they were doing.

Did Coinbase recognize that someone was disrupting the market on their field and try to slow things down for their own reasons? Prolly.

Was Coinbase the $30 million dollar bad guy? That shit happened in China a year or two ago. They definitely were trading their own account against their customers. They didn't even charge their customers commission. Lambs to the slaughter. The Chinese government forced the exchanges to charge commission to slow people down. Amazing.

Is some Federal guy gonna try to make his bones diving into Coinbase? Of course, Coinbase is in someone's sights now. The IRS already was dumpster diving.

In my typical rambling fashion ... but it all triggers fantastic what ifs. It's a fantastic game.

When the market is whipping after a number, you better do a market order or you will be fuckkkkkkked. I've seen people buy 5K lot of 30 delta eurodollar options and miss their hedge by 15 ticks because they couldn't get the fill in fast enough because they tried to do a limit order. Cost them a half million and their entire bonus for the year.

[ftpjesus]

Been seeing more and more folks trying to hype up ETH to the avg joe blow online.. That to me is a very troubling statistic.. The meat of their sales pitch is the mass rise in ETH over the past two months and how its going to surpass BTC.. The big line for awhile was comparing ETH to Silver as Bitcoin was to Gold but now the hucksters are trying to taut ETH as Platinum and while it may someday exceed BTC (especially given we don't know what the SEGWIT situation will ultimately cause and I still think theres a strong likelihood of a hardfork/fuck coming for BTC similar to what happened with ETC/ETH) its disgusting these shills trying to sucker in folks who haven't done one bit of research and it seems to be marketed literally towards the folks who shouldn't be speculative investing like Babyboomers looking to make a killing because they never saved up for retirement like they should have..

[Stueyivey]

Once these ICO's funded by ETH start dumping to fund their operations it's gonna get ugly. Unless one of these ETH funded companies ends up a google/amazon/etc a train wreck is coming. And even those companies lost tons of money in the beginning.

90%+ of these ICO companies are gonna fail, and they will be dumping all the ETH that funded them all the way to bankruptcy. In their terms they even state that US customers can't fund them, but they take the money/ETH from them. Total train wreck coming.

[sonatine]

honestly eth keeps bouncing off automated buy orders at like $295 but every time, it bounces a little less.

[DonaldTrumpsHairPiece]

So my Asian friends bailed me out last night on LTC, square again but debating if ETC is just another big pump or a tide is shifting from ETH to ETC in light of the situations with ETH.

Funny thing is just because one coin doesn't have the issue doesn't mean it wouldn't if it was used or as popular...house of cards or the future. Its literally ring around the rosie.

[BCR]

This feels like one of those coinbase about ready to have technical issues days. Blood in the water

[sonatine]

https://techcrunch.com/2017/06/24/co...591&yptr=yahoo

lolwhat

[Sanlmar]

https://techcrunch.com/2017/06/24/co...591&yptr=yahoo

lolwhat

Cheaper than lawyers and all that bothersome PR stuff.

Don't give the Feds any cause.

Better than folding up shop might be the better analysis

But yeah, what?

[DonaldTrumpsHairPiece]

There couldn't be a bigger flag it was inside job.

[Sanlmar]

Hey, what's up with Bitcoin?

I punch up Bitcoin news... I see CNBC has a fresh piece about Bitcoin from the technology editor

How to buy Bitcoin in seconds from your smartphone
http://www.cnbc.com/2017/06/24/how-t...-ethereum.html

Those hard hitting CNBC journalists shilling for Coinbase. How much did this cost?

I saw a Forbes article the other day:
The Bitcoin Bubble Will Turn Into Mania Before It Bursts
https://www.forbes.com/sites/panosmo.../#4ed7e9db7945

This has haunted me for a day or two. I didn't want to echo it here because it will only be seen as a further reason for optimism and that's not what we are here for. However, CNBC's Financial Info-tainment for the unwashed masses just hits the basic premise of the Forbes article with a sledgehammer. Now I can't let it pass.

But there’s one thing still missing to turn the bubble into mania: a broad participation beyond the “pioneers” and the “early adopters,” to “early majority--” along the Rogers curve

CNBC is an agent to mobilizing the masses. CNBC offers a step by step "how to" for Sonatine'e elderly mom. After playing 7 card stud she returns home and invests 'tines inherentence cause Jim Cramer also made so much sense in his article about Tesla. He seems like a nice young white man.

I just can't do this anymore. Dodgers are winning. OSA's popularity is soaring. Foodporn king WillieMc eats at Arby's. Now it appears Bitcoin hasn't even started

I'm not strong enough for this shit.

[chinamaniac]

This has haunted me for a day or two. I didn't want to echo it here because it will only be seen as a further reason for optimism and that's not what we are here for. However, CNBC's Financial Info-tainment for the unwashed masses just hits the basic premise of the Forbes article with a sledgehammer. Now I can't let it pass.

But there’s one thing still missing to turn the bubble into mania: a broad participation beyond the “pioneers” and the “early adopters,” to “early majority--” along the Rogers curve

CNBC is an agent to mobilizing the masses. CNBC offers a step by step "how to" for Sonatine'e elderly mom. After playing 7 card stud she returns home and invests 'tines inherentence cause Jim Cramer also made so much sense in his article about Tesla. He seems like a nice young white man.

I just can't do this anymore. Dodgers are winning. OSA's popularity is soaring. Foodporn king WillieMc eats at Arby's. Now it appears Bitcoin hasn't even started

I'm not strong enough for this shit.

I don't think it has. Don't be surprised to see 5-10k at some point within a year or 2. I'm not even sure the surface is scratched yet.

[Sanlmar]

I don't think it has. Don't be surprised to see 5-10k at some point within a year or 2. I'm not even sure the surface is scratched yet.

Yeah, you're another reason my prostate is acting up, China.

Tebow got promoted from low A to high A the other day. I was wrong about Tebow too

I just can't anymore.

[GambleBotsChafedPenis]

I don't think it has. Don't be surprised to see 5-10k at some point within a year or 2. I'm not even sure the surface is scratched yet.

Yeah, you're another reason my prostate is acting up, China.

Tebow got promoted from low A to high A the other day. On no was wrong about Tebow too

I just can't anymore.

Just have a glass of good bourbon and you'll be OK...

[DonaldTrumpsHairPiece]

Now I am forced to hold.

[Sanlmar]

Now I am forced to hold.

What choice of pain reliever do you recommend for Bitcoin longs?

I got s close of $2550 @ 12:15am.

$2473 now

[sonatine]

I was absolutely positive the Asian speculators would swing eth back up into the low 300's this morning.

The fact that the opposite has occurred tells me there has been a real quantum shift in that market, and not to the benefit of those holding onto eth.

[GambleBotsChafedPenis]

I was absolutely positive the Asian speculators would swing eth back up into the low 300's this morning.

The fact that the opposite has occurred tells me there has been a real quantum shift in that market, and not to the benefit of those holding onto eth.

I'm watching these fuckers...ive been ready to buy some of that shit in the 220-250 range over the last couple of weeks and every time it's seen around 250 it's shot right back up...263 right now...stalking...

[simpdog]

Looks like every single crypto currency had a haircut except Cloakcoin which went up 45%.

I read into it a bit, looks interesting. They support some off the blockchain coin mixing to provide real anonymity.

[sonatine]

I was absolutely positive the Asian speculators would swing eth back up into the low 300's this morning.

The fact that the opposite has occurred tells me there has been a real quantum shift in that market, and not to the benefit of those holding onto eth.

I'm watching these fuckers...ive been ready to buy some of that shit in the 220-250 range over the last couple of weeks and every time it's seen around 250 it's shot right back up...263 right now...stalking...

the thing to consider, you know, imo, is that sooner or later all those automated buys at 250 are going to get executed, at which point you're fresh out of buoyancy until it creeps down to like the next psychological break point. great for shorting, not sure what else we have to work with there.

[GambleBotsChafedPenis]

I'm watching these fuckers...ive been ready to buy some of that shit in the 220-250 range over the last couple of weeks and every time it's seen around 250 it's shot right back up...263 right now...stalking...

the thing to consider, you know, imo, is that sooner or later all those automated buys at 250 are going to get executed, at which point you're fresh out of buoyancy until it creeps down to like the next psychological break point. great for shorting, not sure what else we have to work with there.

100% hear ya...there's this fucking nagging voice in the back of my head saying, 'easy money's been made, stupid'...and then you get the rally to the 350s...

gonna be patient and watch my government backed currency go crazy...its not helping that I want to get my gambooooooooool on with this shit...