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lainchan archive - /cyb/ - 28880



File: 1462319094268.png (3.43 MB, 300x226, De_Waag_Bitcoin.jpg)

No.28880

There's a lot of media pumping for bitcoin that came out of nowhere recently. Someone obviously bought some ads. this also happens to coincide with a bullish market trend that's primed to take prices into 600s territory.

I think the chinese are trying to do a second bubble.

  No.28886

>There's a lot of media pumping for bitcoin that came out of nowhere recently.
Some strayan said he was bitcoin creator. Even EuroNews mentioned it.

  No.28887

>>28886
you know I didn't think of it before but I bet the australian thing is just a huge pump n dump

  No.28896

>>28886
It's a complete scam, the guy has literally no proof he's Satoshi when it would be easy as fuck to prove you are if you were.

  No.28899

>>28886
>Some strayan said he was bitcoin creator. Even EuroNews mentioned it.
this also appeared in what i consider paid articles à la south park in Heise.de which is huge in german nerd scene.
however, the news is at least a year old, maybe several, and it was kinda debunked almost immediately.
so yes, there is coordinated effort being undertaken to promote bitcoin. that's stupid, bubbles suck, fuck the daytraders, 'strayans get back to your incest basement sex slaves.

  No.29012

File: 1462580576293.png (34.78 KB, 200x57, butt chart.png)

Golden cross at 12H. If it breaks resistance at 3033 the short closing is going to make some nice dildos.

I ignored this guy and am still surprised a random who claimed to be an internet pseudonym got the media attention he did. It does feel like a dumb publicity stunt to induce butt-thoughts into the collective public consciousness.

  No.29013

File: 1462592663753.png (123.8 KB, 189x200, f5caef885fe635187a5a838aec06d36b.jpg)

>>28899
>fuck the daytraders
Part of the reason hundreds of worthless memetokens can retain any value whatsoever are daytraders and the infrastructure they operate within. Being able to short a coin (and profit from a declining market) forces an inevitable buyback - since interest accumulates on used margin people tend to close their positions over short intervals. Even the most extreme declines can be cushioned from orgiastic selloffs by daytraders trying to outcompete eachother. They're the only reason any cryptocurrency is worth more than $10 right now.

What you fail to appreciate is a monstrous chinese exchange industry that is the sole determinant of prices right now. Gambling is illegal in china and crypto-trading has filled that vacuum. The wild price fluctuations are the exchanges clearing out derivative traders. There's a lot of collusion among miners and exchanges too, and china's legislative behavior indicates someone owns a couple top officials. The exchanges and miners have all the coins and are the entities most capable of influencing the market, both through force and technical abuses through the unregulated exchange platforms they operate. They have perfect information about who's betting against what, who's sending in a lot of capital, etc and can preempt other big players in the market.

My theory is china is planning a massive exit scam in the next few years, aiming to push up prices to 1-2k and sell off as much of their reserves as possible. As a daytrader, I can only hope for a government sponsored national bitcoin ponzi that dwarfs the gox algo bubble of 2013.

Stories like these make me hopeful~

https://en.wikipedia.org/wiki/Albanian_civil_war_of_1997
https://en.wikipedia.org/wiki/MMM_%28Ponzi_scheme_company%29
https://en.wikipedia.org/wiki/South_Sea_Company
https://en.wikipedia.org/wiki/Tulip_mania

  No.29022

>>29013
>someone owns a couple top officials
or maybe a couple top officials own bitcoins..

  No.29025

>>29022
Given that it is easy to totally own btc market, it is a possibility.

  No.29037

BTC is the craziest currency, gamble on stocks or gamble on drugs

  No.29044

>>29025
>Given that it is easy to totally own btc market
please elaborate, i too would like to own the btc market

  No.29899

File: 1464319585189.png (34.72 KB, 200x71, bear fuck.png)

That 4H dildo.

  No.29930

File: 1464411325446-0.png (498.59 KB, 164x200, ef5d8418bb1e092d85cb7d4d6f1c320b.png)

File: 1464411325446-1.png (498.59 KB, 164x200, ef5d8418bb1e092d85cb7d4d6f1c320b.png)

There will be a ~5% correction at 3400-3800 CNY. If that support holds for at least a day I'd consider this movement a good candidate for bubble territory. My first thought was a temp high from short-dildoing but the trend seems to be holding. Some claim it's driven by capital control evasion, others yuan debasement but in reality it's gambling and exchange manipulation.

Precipitating factors for bitcoin bubbles always involve 20% valuations over three days or less and culminate in a 2.6-3.1 multiplier from that recovery. If it bubbles it'll go to $1800, maybe less considering the USD's valuation since 2013. China is full of greater fools with a thirst for gambling and a fetish for bagholding. Its recent (and continuing) asset bubbles make me believe people would actually exchange 2k for a dunning kruger token.

Also just made 20k on eth shorts :3 The community's tears are worth so much more than that, though. Watching them try to rationalize the 33% drop caused by mere lack of interest from daytraders is richer than simply the collapsing ponzi.

  No.29963

File: 1464497957664.png (41.41 KB, 200x70, bottom's in (hopefully).png)

Candy cane interface~

Looks like we're right on schedule. If 3625 holds for at least two days we're headed to $700. Next major correction* (there's a considerable possibility of the bubble ending here) at $700-$900. If that's survived we're likely going to overtake the gox bubble. Prepare for an inundation of bitcoin PR in your plebrag of choice over the next month.

Gonna be blogging this here btw.

  No.29964

>>29037
It's less crazy than the average state-issued toilet paper, statistically speaking.

  No.30000

File: 1464566681022.png (33.83 KB, 200x50, day of red dildos.png)

Support at 3625 was broken, this being accompanied by a 30M death cross. The next few days will be decided by whales.

Scenario 1: 1-2 day period of stagnation with prices floating around 3700 CNY. If a support is established at ~3500 there will be a push for 3988, the result of which being dictated by whale sentiment. Pump may resume here, or signal the end of a mini-bubble driven by a two million dollar future liquidation at ~3300.

Scenario 2: Whales play for a 1H cross and drive the price down in a gradual market decline. 3000 CNY becomes the new 2600.

Position stats:

Entry: 3000 CNY
Position size: 66%
Last Trade: 33% at 3930 CNY

I will be holding the rest of the position until 3100. This movement is simply too good for the chinese to not try to end the ponzi in a ridiculous bubble.

  No.30001

>>29964
Yes, but there's a reason the dollar is the world reserve currency ;)

  No.30003

File: 1464575442894.png (622.94 KB, 196x200, dbccbe6d0daa0d9b2d61f6f70d1859a5.png)

>>30001
Yeah, so the US can pull a world-scale mugabe wealth grab in a grand orgy of currency debasement and clandestine asset suctioning that will make japan look like the platonic form of an anarchist's benevolent state.

  No.30080

File: 1464679587945.png (35.58 KB, 200x71, imminent dildos.png)

Market is as flat as a certain cold, slender vampire loli chest! Hardcore daytrader terminology labels this a "no-man''s land" because of the lessening volatility to trade on and a particular sensitivity to whales blowing up the market. Nobody wants to be on the wrong end of a dildo, so you get a diminishing sinusoid.

Not much to say, as the 3625 support break spooked the gambling FOMO ricemonkeys and tacked on a few more days of indecisiveness. Something interesting will happen as the market converges on the 1H trendline.

Position stats:

Position size: 72%
Last Trade: 3% at 3650 CNY

Buying the dips as the market flirts with support. My price alarm has a recently emerging tendency to get drowned out in k-pop.

  No.30107

File: 1464732793699.png (98.62 KB, 200x170, dildos for all.png)

Support smashed, crosses at multiple timescales. Scenario 2 will play out until a new support holds for at least two days and candles overtake themselves enough times to lure in the hordes all over again. Position size reduced because if it comes back, it's going to be in an easily preempted super dildo.

The eth market has an endearing tendency of repeatedly giving me its money as delusional whales continue to inflate a droopy memecoin. I've become convinced that ethereum is an elaborate wealth transfer scheme between effete, retarded tech trendies and myself as anemic nerds continue to gayly spritz me with handfuls of their trust funds. They will find that lisped mouthfuls of tech buzzwords are worth about as much the bag of etherbutts each dutifully socks away. Mighty dildos sprouted into the rectums of nerds who got greedy and played for indefinite shorts, who now find themselves fueling the euphoria as thick stalks bounce within them and assimilate their animal heat.

Position size: 30%
Last trade: 33% at 3620 CNY

Some of my capital will be transferred to fund another disgusting eth short when its flirting with .028. The best thing about concomitant inverse bubble markets is telling everyone online you did.

  No.30126

>>30107
How long have you been doing this?

  No.30138

File: 1464800403659.png (32.1 KB, 200x118, bc.jpg)

http://www.smh.com.au/business/bitcoin-founder-could-definitely-be-australian-20151209-gljc73.html
"AN Aussie bloke created bitcoin" ~ it's an odd assumption that us the user would believe that something as radical as "internet money" could have been created by this straight laced businessman.

I created it myself as a currency in the fictional "world" that my characters habitate - though I often refer to it as 'Future' it is really the infintesimal bits of our great tapestry moving with the ebb of life.

  No.30164

File: 1464828147720.png (50.24 KB, 200x99, exploitable dildos.png)

A fun way to pass the time as you wait for unregulated chinese exchanges to artificially consolidate their markets into bull flags to tease out those algos is "liquidity arbitrage" on lesser platforms. When your dad decides its time to buy and sends his life savings to the most reputable exchange listed on reddit, he's probably going to hit the first purchase button he sees. This option is a "market" order, directly contrasted with a limit order. Exchanges usually have their own liquidity algos which maintain passive buy and sell orders with a 3% spread around the ambient bitcoin market rate. Kraken is a special exception - its algos are designed to limit these reserves during trending periods and cancels them outright for all market orders. The result is a market order that gets filled ~20% below or above the market rate. This is designed foremost to profit off boobs, but also protect the site from collapsing bubbles.

As you can see from the chart, some generous entrepreneur recently sold me their buttcoins at a 20% discount, instantly gifting me a couple of g's. No less than six shrewd investors have made similarly large market orders over the last week, and I expect this number to grow as the media hype train draws more human shaped heuristic globules in.

Position size: 66%
Last trade: 33% at $480 (thanks mate, I owe you one)

>>30126
Seriously, under a year. I've passively traded/researched fx and securities since I was 16.

  No.30178

>>30164
Which book/resource would you recommend a complete noob to markets?

  No.30180

File: 1464850200621.png (892.99 KB, 178x200, 66aca51c8d03e54ce74ad1a147f728c1.png)

>>30178
None. Go into a market (crytocurrency is a good place to start, there are anon exchanges with % based fees) with a small amount of money and iterate strategies while looking for patterns. I would never recommend anything more complex than resources that explain the most basic indicators and chart symbols. If it costs money, it's not worth your time. There are no systems, and if a trader is trying to sell you one it's just because they can't make money trading.

The reason why technical analysis can yield high probability (very important word) trades isn't math, isn't economics, isn't statistics, isn't magic, but a metagame. There are salient formations that everyone recognizes and consciously bets against - as soon as a community believes a specific chart pattern means death, everyone's going to make decisions according to that belief. Many whales will make huge bets with these assumptions, and if you're small these are the people you need to be able to predict.

  No.30181

>>30180
Thank you Bob.

  No.30190

File: 1464874813411.png (30.35 KB, 200x151, serveimage.jpg)

>>30126
>>30164
I started writing BATTRONICA in 2007 - you can expect 10% growth over 10 years that seems pretty straightforward...

  No.30261

File: 1465016854601.png (112.31 KB, 200x118, USDildos.png)

Speaking of dildos. Have any of you kids experienced the joys of residual inflationary policies that did nothing but transfer the newly minuted $$$ right to the oligarchy? Looks like the smoke and mirrors are about to fall apart on stage just as Obomba makes his dignified exit. You're all in this together I guess, but you can expect your benevolent plutocrats to have cashed (asseted) out a while ago.

"Bull flag". "Consolidation period". "Unbroken trendline". Don't buy bitcoin until you know it's making the push for $700, because their is nothing stopping the price from tanking two hundred dollars in minutes because an exchange decides they're going to clear out some sucker's euphoric bet. Bubbles cost money to artificially manufacture, ya know?

Bitcoin also instantly decoupled from the yuan, because PBOC's oligarch pandering has nothing to do with crypto gambling.

  No.30264

File: 1465023299566.png (53.14 KB, 200x85, chub.png)

jegus fuck

It's only a chode, but there's a good chance this is our $700 dildo.

Last trade: 15% at 3758
Position size: 81%

I've decided to start masturbating. I want to ejaculate all over my screen at the exact moment it pierces 3988.

  No.30269

Is there any Bitcoin trading 101 resources out on the Wired worth a read? Like how to invest for a first try, when and where to buy or sell, what kind of data to monitor, etc? Duckduckgo and Startpage only return me junks and clickbait.

  No.30437

File: 1465263955714.png (328.05 KB, 200x99, shills.jpg)

>>30269
jesus christ are you retarded or what?
1. buy bitcoin
2. wait or buy weed
3. congratulations, you are now rich or stoned

finding patterns and predicting the market is alchemy/gambling. go to satoshidice or sealswithclubs instead. unless you have a botnet to make news and shape opinion amongst daytrader sheeple?

  No.30445

>>30437
Are the USD shills responsible for every drop in that chart?

  No.30466

>>30445
idk, here's the text which really should be attached to the image:
Orange: PBOC announces new regulations on BTC - people were unsure of what this news meant at the time, the price went down then about up to where it was, people were calling this "good news" : http://www.scmp.com/business/banking-finance/article/1374052/surge-use-bitcoin-leads-ban-china-trading
Red: PBOC rules cause BTCChina to halt RMB deposits: http://www.bloomberg.com/news/2013-12-18/btc-china-says-it-can-t-accept-new-deposits-for-bitcoin-trading.html Purple: Huobi accepting RMB deposits
Lime Green:Li Ka-shing- Asia's richest man invests in BitPay :http://www.scmp.com/business/banking-finance/article/1390224/bitcoin-service-firms-best-investment-not-virtual-currency
Pink:TAOBAO halts purchases with BTC/sales of btc miners : http://www.coindesk.com/chinas-ebay-bans-bitcoins-and-mining-gear/ Green:Overstock.com now accepting Bitcoin: http://www.bloomberg.com/video/overstock-com-now-accepting-bitcoin-M4_Os2maQoSY8ECIZ_gZQA.html
Brown: Huobi stops accepting deposits into the CEOs personal bank account- which was the loophole which made them get to #1 trade volume- now they are only accepting deposits into a business bank account - which is almost certainly illegal (take note that the PBOC rules do not come into effect until january 31st, some institutions have retroactively applied these rules (3rd party payment proccessors) -- people are also spinning this as good news, I don't believe it is, and this situation feels awfully similar to when PBOC announced their rules, it dipped quite a bit, came back up then crashed hard : http://www.cryptocoinsnews.com/2014/01/12/warning-huobi-has-closed-personal-bank-accounts-system/

note that the text itself seems like a shill attempt because really there wasn't anything bad going on with bitcoin in china. but I'm sure they'll ban it next month, right? kinda like iran has been only 6 months away from finishing nukes since the 70s.

  No.30470

File: 1465295956306.png (116.01 KB, 200x200, 22e7541d659d60980efa0ddf265924d3.jpg)

>>30466
Bitcoin's markets are almost wholly insulated from news and industry events. It's not like forex at all. Excluding the PBOC crypto regulations and gox insolvency, every other listed item had negligible influence over what was a mathematically archetypal collapsing bubble chart formaiton. If fundamental analysis was relevant, bitcoin would be hovering at ~$1.

Chinese markets were peripheral to gox in 2013. That bubble was driven by algos and the artificially inflated prices that came from gox only allowing btc withdrawals in the earliest stages of its insolvency.

  No.30757

File: 1465688697092.png (12.61 KB, 129x200, ~.png)

cummed !

Position Size: fuck it all in
Last trade: 33% at 3990

Got blue balled hard.

  No.30774

File: 1465707472150.png (159.12 KB, 200x200, --remilia-scarlet-touhou-drawn-by-noya-makoto--52b6c8a6364632e29561538c354bd8eb.png)

Next correction will occur between 5200-6000 CNY. As specified in >>29930 , this movement will either collapse in a mini-bubble analogous to last november or survive, consolidate, and contest gox. I expect a modest peak of <$1800 in the latter case, but the chinese are pretty fucking stupid.

>>30269
>Bitcoin trading 101 resources
I wouldn't want to read them. Crypto markets are pure exchange manipulation touched with the presense of an easily exploited body of "technical analysis" algos made by smug teenagers.

>>30437
>buy bitcoin
>wait
This, is gambling. Daytrading is usually just a form of risk mitigation. My previous posts are really misleading because I never swing trade, I just landed an immediate 20% buffer from the obscene dildo in >>29899 that elongated directly into my face on screen. You never get those without bubbles.

>unless you have a botnet to make news and shape opinion

If you're too dumb for technical reads, use your botnet to monitor all the big traders. Collect information and collapse leveraged positions in exploitable cascading margin liquidations. Or just DDoS anyone who's about to bet against you. I swear I got serveiled a couple times in a few smaller markets.

You don't need to influence behaviour if you already know what the market will do. Outside of being a collosal faggot, why do you think I av as T H E S C A R L E T D E V I L ?

  No.30811

>>30774
Which exchange do you use? i've mostly been idiotically trading in shitwallets and looking to get serious.

  No.30817

File: 1465780718287.png (502.53 KB, 146x200, 1417233489670.jpg)

Reducing the range in >>30774 by 200 CNY to 5000-5800. There were some mildly pessimistic growth ratios in the lastest 8H dildo cycle!

HOW 2 KNOW BUST OR CONSOLIDATION ???
- 15-25% correction from peak, support holds 3 days -> consolidation
- >30% decline with no supports -> bubbles over, bub

>>30804

>tfw I make your annual salary in a few days largely spent reading lolidom doujins and listening to denpa

  No.30818

>>30811
OKCoin, bitfinex and kraken are the only usable ones. Use OKC or BF if you want anonymity, kraken if you don't want to be on the next major exchange that exit-scams.

  No.30820

>>30817

Ya didn't answer my question Ojou-sama.

(My annual salary is valued at 0$ USD)
(Net worth: 0 (zero) Shekels)

  No.30825

>>30818
Appreciate it mange. Cheers.

  No.30840

This whole thread and nobody mentions the halving?
Seriously?

  No.30843

File: 1465836478548.png (822.98 KB, 162x200, memes.png)

>>30840
Entirely negligible impact on price. This is the official rationalization given by the media, because "chinese gamblers" isn't an appealing line. Other crypto markets (litecoin) had that event and there was no price movement whatsoever.

Korean media - yuan devaluation
Japanese media - yuan devaluation
Chinese media - Bitcoin at 2-year high !
CNBC - Buy now LMAO!

  No.30857

jesus, this short is not looking good

  No.30858

>>30857
Where was your entry? If it was going to die, it would have done so already.

  No.30859

>>30858
oh, i'm good wrt entry, but the momentum has totally died for this round. guess 4800 was the schelling short for china

the peak happened while i was sleeping so i'm saltine'd

  No.30860

>>30843
nice. always peeved at the awfulness of bitcoin news.

you think knc closing has further exaggerated yuan's hold on btc?

  No.30863

File: 1465863030115.png (1.17 MB, 200x200, f687607cdc10a3a151e34b18fa9645c2.png)

>>30860
>knc closing
No. Cloud mining has long been derobed as yet another crypto "space" meme company template that exists to transfer wealth from mentally disabled VCs to buzzword laden sociopaths. It would have been more economically significant if it stayed operational as the model defies all financial logic.

The only thing with a "hold" on bitcoin are the chinese crypto oligarchs who own both the exchanges and mining pools. The price goes up because the total coins in circulation completely dwarfs those that are actively traded. It costs less to "permanently" fix bitcoin at a higher price point and gradually sell off your hoard than the gains these entities get to their net worths. It's even easier to do when you can fuel bubbles with the futures market you also have a site-side monopoly on.

>schelling short

>saltine'd
Nobody knows what you're talking about, grandpa. Why don't you regail us with tales of riding the nikkei down to nothing with bulky 80s tech in a grungy, neon bathed apartment?

  No.30893

>>30863
i'm making up words lol
how much do you move in a day? wondering what base is needed for a livable wage equivalent

  No.30894

>>30863
Saltined -> salty

>Nobody knows what you're talking about, grandpa. Why don't you regail us with tales of riding the nikkei down to nothing with bulky 80s tech in a grungy, neon bathed apartment?


+1, pretty please Gramps? Sounds cyb

  No.30896

File: 1465907390145.png (48.47 KB, 200x200, 4ab87ecf347e0c3d0f4aade3f39281de.jpg)

>>30893
Not enough. I wouldn't trust an exchange with more than 50k.

I'm just a dirty summer neet who likes feeling superior to wageplebs while making no substantive effort to advance a career within my academic field.

  No.31053

anyone have experience with bitsquare? scam?

  No.31058

>>31053
They're all scams. It's about using whatever has the naturally smallest window to take your money.

Why would you use a brand new exchange over an "established" one?

  No.31070

>>31058
bitsquare, being decentralized, has no window to do so. at least that was my understanding, could be wrong.

that green dildo tho P:

  No.31073

File: 1466043039069.png (213.07 KB, 142x200, 1463454981724.jpeg)

>>31070
Any service using that word to describe or label itself within the next year is going to take your money.

This is going to be a chode. Get ready to get out fast in the next 700 CNY.

  No.31074

>>31073
What, like out for good? Party's over? How on earth can you tell?

  No.31079

File: 1466047555534.png (96.47 KB, 200x174, 3 dildos.png)

>>31074
Stagnant gains and a recuring macro growth pattern of three mini-cycles. The last 8H dildos brought a lower % increase compared to the growth cycle from 3000 CNY. That gets people pessimistic. I'm iffy about sitting in anything right now tbh.

Consult >>30817 for your post-collapse TA needs. I'm still bullish, but I'm not sitting through a 15% retrace.

  No.31092

>>31079
As always, your based wisdom is priceless. I'm noticing 1) obviously the CNY is way more active than any USD exchange, and 2) USD movements seem to be exaggerated reflections of CNY action.
Wondering your thoughts on these observations and if they're at all useful for trading in the micro.

  No.31101

File: 1466050942489.png (148.4 KB, 200x147, c71ff330f12ce3b21a7370b9e1038e94.jpg)

>>31092
Everything is peripheral to china and as a result passively follows its markets. Huobi/OKC is the only data that matters.

The weird movements are a result of garbage liquidity. % difference in prices between yuan and USD denominated exchanges also varies wildly, with the USD value usually playing catchup over rapid valuations. Liquidity always gets obliterated during collapses.

  No.31274

File: 1466143476538.png (51.36 KB, 200x87, fast dildo.png)

~5% 1min dildo.

Cryptomarkets are too easy. gg chinaboys

  No.31277

>>31274
Can you explain what you're talking about or link to anything explaining it?

  No.31278

>>31277
>link to anything explaining it
I'm the only one talking about it, so I wont be able to do that.

Are you trying to ask for a comprehensive exposition of dildos and dildo related TA metrics?

  No.31279

>>31278
Yup, that is exactly what I'm asking. Give me the dildo rundown.

  No.31280

>>31279
https://en.wikipedia.org/wiki/Candlestick_chart

It's a very basic chart symbol that represents market data. The bigger and more unpredictable they are, the more daytrading nerds getting fucked.

  No.31281

>>31280
How does this relate to dildos and chodes?

  No.31283

File: 1466146432625.png (109.17 KB, 125x200, e7aed4083bde9863b6bd8a1301031244.jpg)

>>31281
I call them dildos for the provided reasoning. They're usually indicative of derivative traders getting forcibly liquidated and losing their family farm in rural china.

A chode is a dildo that fell short of length expectations, engendering disappointment or relief.

  No.31289

so, why do dumps/pumps of equal size effect the market in unequal proportion?

  No.31290

>>31289
Differences in liquidity. If it's an obv short term pump, nobody's going to put in bids around whatever silly value an individual market got pushed to.

  No.31291

>>31290
Liquidity being the total difference in price between all markets?

High liq = high mkt diff = little effect; low liq = mkts agree = pump/dump is really happening = large effect?

  No.31292

>>31291
Liquidity meaning how many people want to buy or sell within a range of prices.

Pumps in crypto are usually semi long term in really thin markets. A majority token holder can invest when a market (cough ethereum) is stagnant to convince bagholding nerds that it's bubbling or increasing in value for some reason. Those bagholders come in and gradually keep buying at the higher and higher prices - when there's more interest, there's greater liquidity with more stable prices if you can convince people the e-token has some value.

  No.31294

>>31292
ah! so a dump is a large lopsided increase in negative liquidity. other orders might be as large but will effect markets less if the it's overall is more liquid at that time.

  No.31319

File: 1466180129575.png (49.31 KB, 200x88, sfyl dildo.png)

Oh, and it looks like we have a convinient (and hilarious )illustration of an illiquid meme market occuring for us right now. It only took a selloff of 5% of the coins to tank the price 40%.

  No.31321

>>31319
well, the dao was an utter shit show, so that meme is p much finished lel

  No.31366

How many trades per day is a sane amount?
The price does that sine-wave shit so clearly there's micro potential but I ain't got time to second guess my purchases every 15 minutes

  No.31367

Follow up question: does the weekend usually bring decreased volume?

  No.31368

File: 1466226615733.png (37.32 KB, 200x150, Karpeles_Samurai_Sword_Wide.jpg)

>>31366
Depends on the strategy you're applying, market behaviour, position size, exchange liquidity, exchange fees, etc. Ethereum has better volatility than btc and I usually shave off a couple 1-3% trades in a day. I've been exclusively swing trading btc and am thus ignoring it until there are better signals that it's entering the next growth cycle. If you're talking tiny amounts with a bot or something, you could be exploiting every obv sinusoid.

>does the weekend usually bring decreased volume

On USD exchanges, sometimes. Wire transfers don't get processed over weekends, have no idea what the situation in china is.

  No.31369

File: 1466227467548.png (1.02 MB, 150x200, f70c10683bee6468601b111049c0b7a1.png)

Also one of the worst mistakes I made as a novice trader was to try to trade everything. Only go ultra-micro if you're using an algo with tiny profit margins. You're going to get hammered with trading fees otherwise.

I've pretty much retired myself to panic formations, breakout predictions and trend sinusoid riding. Watching the charts can get really tedious.

  No.31403

File: 1466281198262.png (71.7 KB, 200x106, bfx dildos.png)

That fakeout.

Buttfinex is full of greedy retards. Fortunately these are also the people you're profiting off of.

  No.31405

>>31403
So are you shorting somehow?

  No.31407

File: 1466285161012.png (671.19 KB, 142x200, 10aa9cecc33b9f7a16c6a23c29cba950.jpg)

>>31405
I had the opportunity to but didn't bother. I'm still expecting a retrace to the low 4000s and that would of been the best entry for a nice swing short.

Eh, eth has been more fun imo. Profiting off a pants-shitting market is one thing, but the comedy gold from a community that's an elaborate network of subreddit sockpuppet propagandists and the bagholders who passively suckle the ever-present monolithic meme teat is so much more than I could ever make from shorts. Laissez faire techno-libertariansim, until I lose my money in a metamemetoken scam.

Layered ponzi schemes and the final refutation of modern economics. That is the gift cryptocurrency bears.

  No.31458

>>31440


I just want an ERP waifu to escape from my dreary life.

  No.31460

File: 1466315007167.png (2.1 MB, 152x200, d403f730446dac3397d277b60b59c2f4.png)

>>31458
If you're a girlish cuteboy who knows how to program hft algos or trading bots, we need to hook up. It's embarrassing to admit, but I do all my trading manually.

Trading strats for programming knowlege. I keep reading about hopeless nerds who can design a fine algo, but will get fucked upon entering a real market cause they're big scrubs.

  No.31502

>>31460
Would you retreat on the girlish cuteboy front if I made up for it with bots?

  No.31505

File: 1466364506133.png (329.01 KB, 128x128, 7f8f5532881cffb15d4eeddfb906677d.jpg)

>>31502
No. Unless you write gendered code dotted with cute notes in a really girly color scheme.

I have a couple of ideas for long term bots you could leave with a small amount and gradually amass funds in choppy markets. I don't think some of my major bread and butter formations can be captured (or trusted) to an algorythm, however. I like to exploit panicking markets and BSFs that can easily keep going the other way.

I know -nothing- about interfacing with sites or botting in general. I'm code-literate, so will likely pick up on the structure of what you're doing quickly regardless of language. Write up a generic bot with buy/sell capabilities that activate under certain market conditions. There are some nuances that'll have to come in later with data retention, candle stick structure and the ability to read historic data, but we can start with something simple. Any general overview of botting would be appreaciated.

  No.31508

>>31505
Pick an exchange you want to support and read their API documentation. It's about as simple as it gets.

  No.31516

>>31508
I only know fucking assembly and freshman level python. What programming language should I get a basic grasp of for gaytrade crypto bots?

  No.31543

File: 1466404567094.png (59.67 KB, 200x158, r 48.png)

Amassing screencaped reddit posts has become my new passtime.

  No.31566

>>31543
Ooooooooof

>>31505
Hey I wrote a bot for mtgox way back in the day (in like the $8/coin era) but never made any money because I don't know shit about trading. Post an email and I'll get in touch.

  No.31609

File: 1466467288895.png (380.59 KB, 147x200, 898e71e67d783d6b159052563ee836ce.png)

>>31566
>>31502
Emails in the field. If you guys are gud enough, we could sell a botting software platform to the greater crytobutt community. Offers open to anyone else interested in playing imageboard capitalism.

I'm sure we can find software guys and interface design cuteboys to work for us for git points/references/pleb credits/anything that isn't money. I def have the capital for an ad campaign.

  No.31618

File: 1466486201721.png (274.05 KB, 193x200, delayed dildos.png)

AHAHAHAHAHAHAHAHA

Exchanges do this all the time btw, so don't hold iffy consolidations. The only thing funnier are the reactions from all the new "investors" on reddit who were no doubt lured in by the continuing media pumping. Exchanges DDOSing themselves to get priority asks is always a solid short indicator.

  No.31621

File: 1466488223147.png (57.08 KB, 200x125, r 51.png)

Daily reminder that this is your "competition" in an average market. "I'm going to make 1000% on my investment, because of this TA formation and hashrate math thing I just made up". The people who design algos in trillion dollar securities markets aren't much better than this, tbh.

  No.31629

i think i bought btc back in march for like 430 or something like that

I just sold it at 700 the other week

lmaoing at btc cultists

i paid my bills for my servers and managed to make money which was pretty cool

  No.31657

>>31621
You are now aware what stock trading was like in the 1920s.

  No.31689

I just use my bitcoin to pay my friend for gas. I bought at $440 so the market has a way to go before I'm better off giving them USD. Plus it's just fun to do everyday transactions like that in crypto, even if it is sub-fiat monopoly money.

Come to think of it, I don't think my friends even know how to sell their coin.

  No.31697

File: 1466640320641.png (60.85 KB, 200x86, prediction dildo.png)

Let's see if I can pick a bottom. I usually wait for stability and multiple re-tests, but fuck it.

Last trade: 66% at 3850
Position size: 66%

I'll be exiting this position immediately if it breaks support. I'm betting on a consolidation, rather than bust.

  No.31699

File: 1466641788640.png (35.54 KB, 200x48, r 59.png)

I like to imagine every cent I squeeze out of these retarded markets as coming from special individuals like these. Capitalism may systematically devalue the human form, but it's pretty hilarious.

  No.31701

File: 1466646214983.png (373.17 KB, 146x200, b7507d7564ceb148a0704c061f1ffb45.jpg)

>>31697
*Update* - I got fucked for a .5% loss. I think I'm going to play again at about 30% the ATH. That was the support ratio in november.

  No.31703

>>31701

post feet

  No.31706

File: 1466650490955.png (149.54 KB, 200x74, knife glide.png)

>>31703
WHOA

Can the 3530 triple bottom hold this big remi?

  No.31721

If this next support @570ish doesn't hold I think it's gonna hit 500 USD.

  No.31722

File: 1466670651849.png (69.95 KB, 200x96, dumb dildos.png)

>>31721
BTCUSD was like 10% overpriced on american exchanges at the 3530 CNY floor. It's since devalued to about parity; 555 will be smashed in a CNY retest, which will happen. American data is always completely meaningless.

I held off on the 3530 buy specifically because of that ridiculous price disparity. Didn't stop the mongos and informationally retarded algos on bfx, though.

  No.31733

>>31722
Does it not track with money markets?

  No.31736

>>31722
Couldn't you buy on Huobi and sell on Bitfinex when that happens? Or is the price based on sell orders rather than buy orders? I'm fucking awful at currency trading.

  No.31737

>>31736
Yeah it's called arbitrage. You'd have to pay fees though and wait for the transfer between your wallets.

  No.31740

File: 1466708657977.png (36.41 KB, 200x102, r 61.png)

>>31733
"It" is a bunch of fomo monkeys and poorly programmed TA bots that only use data from whatever minor exchange they were plopped onto. I'm under the impression a lot of people don't even understand that USD exchanges only account for <5% of what's traded and are entirely peripheral to the chinese gambling dens.

This is reflected in the media's dubious price correlations. I genuinely can't tell if it's a purposefully crafted narrative advanced by some western crypto advocacy group or plain incompetence.

  No.31742

>>31740
I've been trading on USD exchanges mostly because chinese exchanges are slow as fuck where I'm from. How am I gonna get dem low latency trade with ping to China? At least I use data from all big markets.

  No.31746

Does anyone have an answer to >>31516 ? Bull markets are the best time for bots.

  No.31747

>>31746
Python is pretty good for it, most if not all APIs work through Python and there's plenty of stats packages and such. The hard part is not learning the programming language but actually making a good bot, which takes a lot of insight.

  No.31749

File: 1466719051821.png (670.33 KB, 128x128, HK7CW5F.png)

>>31747
>The hard part is not learning the programming language
It'll take a week, which is more time than I'd like to waste before entering a bot into the market. The next retest is the optimal entry time for the algos I want to introduce.

>making a good bot, which takes a lot of insight

This is the easy part for me. I have a lot of micro strategies I'd like to put to a bot, but lack the programming knowlege to do it. I know the math for the indicators and algo behavior I'd like to implement, I just don't know shit about programming.

cutegirl@cock.li if anyone wants to exchange bot programming knowlege for micro and macro trading strategies. You'll get set up with a simple algorythm that will get you 5% per day if bitcoin re-bulls. We can discuss non-algorythmic TA and anything related to trading. I need your fucking bots.

The guy who responded didn't know any of the languages used in bitfinex's api and was unable to adapt his generic code to any of the other exchanges. I want to learn the language myself eventually, but now is the best time to get those bots fucking going.

  No.31754

>>31749

If you pay for room, board, and a maid outfit, I will LAERP as Sakuya (Blowjobs included).

  No.31776

File: 1466738261350.png (28.69 KB, 192x200, ⵁⴽⴻⴷⵍⵊⵎ.jpg)

>>31754

But how do I know you're not ALREADY a LAERP bot enslaved by a mysterious beneficiary?!

It's awfully strange that all you need to survive is a room and a motherboard! #RLM

  No.31778

File: 1466739993111.png (138.3 KB, 200x119, european dildos.png)

Fiat bagholders aren't immune to imploding memes either. I feel like brexit was somehow orchestrated by the US as a means of diverting attention away from its equivalently shitty economy and scooping up the wealth from two of the largest fx currencies succumbing to casino speculation.

https://www.youtube.com/watch?v=hdss-U0H7fA

  No.31780

File: 1466740935426.png (841.06 KB, 200x129, ct-confidential-cme-trading-pits-0208-biz-20150206.jpg)

>>31754
>>31776
Which security trading boy would you birl?

4 and 7 are best birls

  No.31782

File: 1466743054479.png (53.96 KB, 150x200, 562.jpg)

>>31776

``room & board''

I.E. a place to sleep, and something to stuff my face with

And some maid cosplay for obvious reasons.

Cum on, this isn't HFT science here...

  No.31829

S-sent you an email, trader-san.

  No.31969

>>31369
Wait what do you mean by "Trade everything".

  No.31970


  No.31985

File: 1467108336209.png (516.18 KB, 200x150, 49225f217e4c9674d99c4eba0cb5bb71.jpg)

>>31969
90% of market information is meaningless data. If you're indiscriminant in what positions you enter, you're either going to be rapidly eroded by trading fees or sustain massive losses when things don't go your way for too long. I've seen endless twitter personas fall to fun-trading and losing margin positions because their e-egos make them incapable of admitting losses in fundamentally probabalistic events. Money lost in trading is the fee for all the pity-attention I've come to believe they're driven by.

You'll enhance your roi greatly if you cut out mediocre trades entirely. If I'm not swinging my positions will be decided in minutes.

BTW, found a really gud programmer and we are crafting the most adorably cute cryptobutt bot this grossly mishapen market will ever be caressed by. When I'm done with crypto I'm going to single handedly smash the world plutocracy, implode the state bond bubble and dismantle wallstreet. I'm coming for you goldman, you little fuckboy,

  No.31988

>>31985
Pls Share Source code on bot so that poorfags alike can prosper aswell ;-;
Been living in a library sending pictures of naked girls to chines IRC boys for buttcoin. Send help.

  No.31990

File: 1467114821580.png (97.39 KB, 142x200, beb648136f9e68e79f82c651a13ed86d.jpg)

>>31988
>sending pictures of naked girls to chines IRC boys for buttcoin
Afraid we're in direct market competition then. Those same china boys are sending me their bitchcoins for "nothing".

It's going to be in experiment status for a while. We always need people literate in other language to write mirror code compatible with alternative exchanges.

  No.31992

i know im not gonna make any money but just for learnings sake, if i start with just like 40$ of bitcoin can i still see the numbers go up when i do good. even if its by pennies?

  No.32007

>>31992
Invest in Ether right now, you can actually get solid amounts and the market is about to be flooded so holding a few ether might benefit you much more than buttcoin

  No.32009

>>32007
Ether is about to die.

>Invest

Cute.

  No.32014

File: 1467158678425.png (341.86 KB, 150x200, 83c05ddfe782a5627015328aa7389366.jpg)

>>31992
>if i start with just like 40$
You can trade 100x leveraged crypto futures on bitmex. If you buy right before the next growth phase, you'll return a few k.

Even with the standard 20x on okcoin, it'll be a while before you're competant enough to ever see returns. Your money is best spent learning to play the markets.

  No.32015

>>32007
i feel like after the fork the trust in ether will go down and so will the price.

>>32014
could you exp;ain what you mean by "play the market"?

  No.32018

>>32014
no I know I wont see returns for a long ass time, that's why I was asking about about the 40$ thing. I just meant if I do good, will I be able to see it or will I not get anything hardly because of trading fees or something. I need to be able to see when I made a good trade so that I can learn.

  No.32019

>>32018
also fyi im sure you can tell but I have no idea how the exchanges work atm. for the past few days ive just been reading up on how to read the charts and candlestick patterns.

  No.32021

>>32018
Fees are % based. You'll see returns when you git gud.

  No.32161

File: 1467345718649.png (554.8 KB, 158x200, 5f83d98bc54881480f4807cbec37dc35.jpg)

~4800 is a M A G I C number!

  No.32176

>>31992
>if i start with just like 40$ of bitcoin can i still see the numbers go up when i do good. even if its by pennies?
yes
>>32007
>Invest in Ether right now
LOL
>>32015
>could you exp;ain what you mean by "play the market"?
press buy and sell at the right time

  No.32181

>>32015
>"play the market"?
yeah, like when you play Lotto you nee a special system or you won't win. like, you need a formula that incorporates your birthday, the current planet constellations, etc.
what you definitely must NOT do is buy bitcoin, put it into cold storage and not touch it until you need it because then the exchanges can't leech off your stupidity.

  No.32188

Just hodl and wait for halving!!111

  No.32189

File: 1467373944589.png (63.38 KB, 200x170, 89e5473652c8a5c5e8d98de0ae18ae81.jpg)

>>32161
Not if that fork happens though. Rare that a news event would ever touch the price.

Hearn knew TA and just wanted to seem influential, btw.

  No.32190

File: 1467374733283.png (112.94 KB, 200x105, insider dildos.png)

Someone made a sizable bet on it too. BFX led china in that minor drop, seems like an offisite cboy with some big information!

  No.32193

>>31609
what exactly are you after?

  No.32259

File: 1467448747186.png (37.47 KB, 200x134, BN-IA939_0423cm_G_20150423063236.jpg)

>>32193
Someone who's a little shy with a petit, kissable body!

  No.32317

File: 1467536586983.png (58.54 KB, 200x85, t-torend reversal.png)

UWAHH 1% off. I really should stick to excessively broad ranges to aggrandize my smug touhou thread persona.

Short term floor at 4400, though I'll be limiting myself to breakouts. The macro bounce is much better than november's bubble, so we'll likely get a 5188 retest over a much shorter timeframe.

  No.32416

File: 1467765634730.png (44.05 KB, 200x150, 22f.jpg)


  No.32417

>>31701
whats ATH? can you explain terminology\strategies for this for us capitalist plebs?

  No.32603

>>29013
>As a daytrader
What sort of return on capital can you get?
How much IQ is required?

  No.32611

File: 1468090590131.png (51.58 KB, 200x86, (no) dildos.png)

There's a tendency among crypto communities to not only systematically misunderstand basic economic concepts, but guise propaganda in its rhetoric. This combines with the habit of turning every non-event and irrelevency into an excuse to loudly draw attention to itself in an entertaining and revelatory way.

The halving had no impact on price. This was forseen by anyone who understood what it entailed beyond a literal interpretation of its title. It would have no immediate affect because:
-the total active supply is unchanged. changing the amount of butts that get occasionally sprinkled on the ecosystem is negligible in the short term.
-the price is determined by a small fraction of coins that are actively traded. the price is uncorrelated to how many butts an exchange owning crypto oligarch is actually sitting on
-gambling rural chinese peasants don't understand or care about the economic implication of software-level events. many of them are doubtfully aware that bitcoin is a software protocol external to the gambling dens their work-camp friends keep bragging about

In spite of reality being locked behind only basic reasoning, the memes took hold. Sockpuppet, paid journalist and reified subject alike find themselves impelled to mouth a euphoric chorus. Its form cannot be distinguished, being punctuated only by tone deaf shouts of "HAVE AN ING" which emerge in a distinctive downs afflcited tone. The real gold comes when the community faces cognitive dissonance and has to invent another retarded propaganda labyrinth to prevent handjob asynchronicity.

>>32603
>How much IQ is required
You have to -be- below 90. It's about striking that nuanced balance between medical disability, and being able to distinguish the buy and sell buttons after your wrangler logs you in to the exchange.

  No.32635

File: 1468107782970.png (76.24 KB, 200x176, fa54926a515915ed513bfc1938ffd5b2.jpg)

>>32603
>What sort of return on capital can you get
My yearly ROI averages in the triple digits. I've had 100%+ months in derivatives markets, really depends on your leverage.

This only works if you're trading with under 100k. There isn't enough market liquidity to pick off the easy formations or apply the same strategies with anything more.

  No.32639

File: 1468108314977.png (285.95 KB, 200x200, adopt.png)

>>32635

Onii-sama, have you any recommended reading on the subject?

(Other than your posts, which are delightful)

  No.32644

File: 1468112802018.png (79.64 KB, 142x200, 1d31d85e9fb870041253da6387738874.jpg)

>>32639
Between now and starting I haven't read anything. Sometimes it's to your favor to go in without theoretical expectations or someone else's game.

investopedia is good for basics and has videos. My weeb squad is moving into securities, and as we develop the bot I'll be interested in researching machine learning and more sophisticated aspects of micro algorithm design. I'll drop docs if I find anything interesting.

We currently need (1) meek comp. sci student who likes it a little rough. Requirements:

-machine learning
-gay
-anime bukkake
-thanks!

  No.32645

>>32644

post feet

  No.32655

File: 1468120049293.png (291.34 KB, 200x200, like?.png)

>>32644
>I'll drop docs if I find anything interesting.

Thanks, onii-sama. Not comp-sci, unfortunately, so I don't know where to start in terms of helping you out.

Will do some investopedia reading though. Best to start with the end in mind, I think.

  No.32685

>>32635
How much risk is involved, and can I still make good money if I avoid putting large chunks of the invested capital into individual trades?

  No.32720

File: 1468185556935.png (24.56 KB, 106x200, rekt30.jpg)

>>32685
>How much risk is involved
It scales with how retarded and incompetent your trading strategies are. I personally will never take more than a 1% loss + trading fees at a time, because I believe the point of daytrading is selecting chart formations that statistically favor you in the short term. Other traders trade with massive leverage (which means higher fees), so they tolerate a larger stop loss buffer. The only way you can lose everything is by being liquidated in a margin trade - which a surprisingly large amount of people accept as a part of their "strategy". I rarely use margin and operate with tiny stop losses and return targets.

>can I still make good money if I avoid putting large chunks of the invested capital into individual trades

Depends what you mean by this. Less money you trade with, less you get from good trades. If you don't want to trust exchanges with a ton of money, you can use leverage to reduce the amount of capital you expose to systemic risk.

  No.32794

Am I right in thinking that this boils down to looking for repeating visual patterns on the chart, then trading accordingly?

  No.32801

>>32794
it's a little closer to "watching the chart and developing mental models of the traders behind it" and then trading on those models

  No.32894

>>32644
Not compsci but I fit the other parts, maybe I can be the group cum slut

  No.33535

File: 1469000908031.png (1.47 MB, 200x120, 20160717_111358.jpg)

>>28899
I believe you have Australia and Austria confused

  No.33993

File: 1469386870178.png (36.51 KB, 200x115, dao 34.png)

Oh boy.

I was going to place a short at an anticipated test of .02322 but got beaten by this. That would have been the safest perma-short on a memecoin ever.

This is all orchestrated by the guy who found the DAO exploit, btw. Likely funded by the short he took out before announcing the hack. I'm impressed, this is how you play meme markets. The propaganda bots and cognitive dissonants are going wild in the meme nest.

  No.34489

>>32685
Cryptocoin is high risk. The abundance of altcoin really hurts adoption. Many altcoins dissapear, rendering your investment worthless. There are also quite a few altcoin scams, where the altcoin is intended to fail. Bitcoin is the cryptocurrency with widest adoption, so if you need to put your money in cryptocurrency for the sake of making private transactions in the near future, you're safer with bitcoin. As far as speculating, the odds are against you.

  No.34499

Afaik Ethereum is not meant to be solely currency, but rather be used for contracts and such since it can store way cooler stuff in the blockchain than mere transactions.

https://www.ethereum.org/
>Ethereum is a decentralized platform that runs smart contracts:

I like the concept. Apparently they had a fuck-up, but who cares, it's the fucking wild west of crypto currencies currently and they have great potential to brighten the future a little bit.

  No.34501

>>33535
Since the last Eurovision that's a common issue.

  No.34508


  No.34513

>>34499
It's a memecoin with a few more buzzwords.

>I like the concept

That's the problem. The only concept is you feeding the nerds sitting in premine.

  No.34522

>>34513
you don't get what i'm saying. my premise is that behind the buzzwords there is also actual innovation happening, which could potentially lead to actual empowerment of the people in the future.

I'm not advocating to buy crypto currencies unless you want to literally gamble with your money.

Also, ethereum has actual new stuff in it, it's not just buzzwords.

  No.34523

File: 1470081417535.png (200.63 KB, 200x183, 1470021117409.png)

>>34522
It's just buzzwords. It's bitcoin with a few technically unremarkable features cobbled in to impress and endear.

You can see why smart contracts are an unwieldly system with the DAO. It's far easier to just separate the currency from the economic role it takes.

Cryptocurrency has been one large PR drive to legitimize itself in the eyes of global plutocrats. They're literally throwing their wealth into negative yielding bonds because they have more than can be reliably preserved. You are gambling on the gulibility of the elite, and it frankly isn't that bad of a bet.

  No.34533

>>34522
bitcoin can do smart contracts as well, except in a way that actually preserves the safety of the fundamental currency layer https://news.bitcoin.com/bitcoin-smart-contracts-safeguards/ . Satoshi could have made bitcoin turing complete but it was a security risk so it was purposely built how it is.

  No.34543

>>34533
How is Turing completeness a security risk?

The real problem is that people used a language modeled after python, a language with pretty much no concern for safety or correct code, to build extremely critical infrastructure for handling money. That problem has already been solved. There is an Idris to EVM compiler along with a paper detailing how it works: http://publications.lib.chalmers.se/records/fulltext/234939/234939.pdf

  No.34545

>>34543
>How is Turing completeness a security risk?

it allows for infinite loops. Not really a risk in a managed language though.