The Litepresence Report on Cryptocurrency

[Suzu]

https://bitcoinwisdom.com/markets/btce/btceur
https://bitcoinwisdom.com/markets/btce/ltceur

Thanks for the links. I can't understand the charts, though.

 

[staerker]

Thanks for the links. I can't understand the charts, though.

Top chart: x-axis is time, y-axis is price.

Bottom chart: x-axis is time, y-axis is volume.

So the spikes you see are sudden and extreme spikes in market price, along with significantly greater trade volume (with respect to surrounding times.)

Usually means that a single buyer with a ton of money bought through all the pending offers.

The fact that the price stabilized relatively quickly usually means that the individual either didn't know what he was doing, or, something malfunctioned (account hack, bot going nuts.)

 

[ronmartin13]

What's the deal? is this a short term spike or is this the movement we've all been waiting for?
Can somebody point me in the direction of a place where they are discussing the coin... not the troll box! Please.

 

[muh_roads]

What's the deal? is this a short term spike or is this the movement we've all been waiting for?
Can somebody point me in the direction of a place where they are discussing the coin... not the troll box! Please.

I think it is just consolidation/despair/weak hand shakeout before the storm. So much good news out there constantly coming out.

Trolls exist everywhere you go in cryptoland. Avoiding "trollbox" attitudes is tough.

 

[muh_roads]

Did any of you guys catch the BTC/EUR, LTC/EUR action on BTC-e last night? Something crazy happened, big euro account got hacked, bot went nuts, something, anyway BTC was bought up to 3200 Euros and spikes happened for about 2 hours. LTC was being bought up to 8 Euro. Check the chart for yesterday, its quite nutty.

I feel sorry for that guy. Somebody said he lost 3000 btc or something when his bot went haywire.

Good lesson to learn I guess. Even whales can fuck themselves over.

This is why bots make me nervous. You always have a hard time sleeping. Always gotta keep one eye open on it. I do share pres' vision of an automated trading future. I think it will happen. Some people just have to experience a lot of pain before we get there.

 

[muh_roads]

That's interesting. I do think 2015 will be a good year for bitcoin, but it may have to drop into the 200s first. If not, then double bottom. I would short from below 443. It's already looking quite bearish atm.

You shorting?

There is more good news coming so I expect more selling...lol
Shit is so backwards right now.

Whales are being assholes right now. And they aren't talking. Serious attempt for cheaper accumulation going on.

 

[Shane Harris]

Sub 420

 

[staerker]

http://www.cryptocoinsnews.com/peer...unces-release-date-for-secret-project-nubits/

Money leaving from btc to ppc. ?

 

[PaulConventionWV]

You shorting?

There is more good news coming so I expect more selling...lol
Shit is so backwards right now.

Whales are being assholes right now. And they aren't talking. Serious attempt for cheaper accumulation going on.

Yeah, I'm shorting at least until the peak of the 2013 bubble @ 260ish. I'll cover my shorts at 270 or 280. I expect 2015 to be a much better year.

 

[Suzu]

Yeah, I'm shorting at least until the peak of the 2013 bubble @ 260ish. I'll cover my shorts at 270 or 280. I expect 2015 to be a much better year.

What do you mean by "cover my shorts"? (sorry to be such a dolt about this business, but I just don't know the ropes yet)

 

[PaulConventionWV]

What do you mean by "cover my shorts"? (sorry to be such a dolt about this business, but I just don't know the ropes yet)

"Shorting" the market is a way of making money when the price goes down. It involves borrowing BTC so that you can sell them and then buy them back at a lower price and make a little profit. To cover one's shorts is to buy back the borrowed BTC and return them to their original owner whilst getting your original investment back plus the money you saved from buying back lower.

 

[Shane Harris]

sub 390

 

[muh_roads]

When looking at the zoomed out 1d chart, it looks like we are near the end of a 2nd red dragon. So still one more red dragon to go. But this 2nd one wasn't as steep of a drop as the first.

I have spread orders all the way down to 300 in case someone does a fast noob dump...might be good to keep setting your spread all the way down to 250.

This will eventually bounce hard to find a new mean. I'm finding too much good news about BTC daily. Feels like accumulation by the VC crowd.

 

[Dianne]

When looking at the zoomed out 1d chart, it looks like we are near the end of a 2nd red dragon. So still one more red dragon to go. But this 2nd one wasn't as steep of a drop as the first.

I have spread orders all the way down to 300 in case someone does a fast noob dump...might be good to keep setting your spread all the way down to 250.

This will eventually bounce hard to find a new mean. I'm finding too much good news about BTC daily. Feels like accumulation by the VC crowd.

Unfortunately I'm stuck with LTC purchased at $6.75. I'm going to have to wait it out and hope LTC eventually bounces. I had to stop watching the charts.

 

[muh_roads]

Unfortunately I'm stuck with LTC purchased at $6.75. I'm going to have to wait it out and hope LTC eventually bounces. I had to stop watching the charts.

Buying near the latest low of $2 before the bounce would've lowered your $6.75 average to exit. Shitcoins are making LTC look bad. Many are feeling like LTC doesn't really offer anything different, and they would be right. I took a huge loss on Dogecoin but if I didn't sell when I did, it would've just got worse. I feel your pain on indecisive bagholding,

Even shitcoins with amazing anonymous technology are treated like pump & dumps anymore. BTC is still the digital gold to traders.

 

[Suzu]

"Shorting" the market is a way of making money when the price goes down. It involves borrowing BTC so that you can sell them and then buy them back at a lower price and make a little profit. To cover one's shorts is to buy back the borrowed BTC and return them to their original owner whilst getting your original investment back plus the money you saved from buying back lower.

That makes sense. Except why would anyone lend you the original BTC to use to make profit, when they could make the profit themselves by doing what you plan on doing?

 

[PaulConventionWV]

That makes sense. Except why would anyone lend you the original BTC to use to make profit, when they could make the profit themselves by doing what you plan on doing?

Because they charge a little interest for lending it to you and there's no risk involved for them because the borrower takes on all the risk by trading.

 

[Dianne]

Buying near the latest low of $2 before the bounce would've lowered your $6.75 average to exit. Shitcoins are making LTC look bad. Many are feeling like LTC doesn't really offer anything different, and they would be right. I took a huge loss on Dogecoin but if I didn't sell when I did, it would've just got worse. I feel your pain on indecisive bagholding,

Even shitcoins with amazing anonymous technology are treated like pump & dumps anymore. BTC is still the digital gold to traders.

That makes sense. I certainly missed the boat and trying to move them on eBay now.

 

[amonasro]

That makes sense. I certainly missed the boat and trying to move them on eBay now.

I'd be careful with eBay--I've not personally bought/sold crypto there but I hear about lots of chargebacks.

If you have a Coinbase account, a better option would be to convert them to BTC at an exchange, then cash out through Coinbase.

 

[Dianne]

I'd be careful with eBay--I've not personally bought/sold crypto there but I hear about lots of chargebacks.

If you have a Coinbase account, a better option would be to convert them to BTC at an exchange, then cash out through Coinbase.

I just hate to cash out at such a loss. Do you think LTC will rebound back to at least the $7.00 range?