It can be gone in seconds I keep warning about that Many ethereum traders lost large sums of money. Reminds me of the scene in blow when George tried to withdraw his money from the bank and they told him sorry its gone Well at least he did have a paper statement bank book that told him he had millions This just shows how 'thin' the 'order book' is at these excahnges, mainly due to most keeping their cryptos off the exchanges by advisement.
What happened over the past 3 months looks fairly simple to explain. Hedge funds and other 'whales' that understand stop loss orders, margin calls and liquidation, etc wanted in on the game. They could not 'short' the market as with regular securities so they had to buy in, thus driving the price up over the past months. Once a large position was obtained, they simply dumped more volume than was available to be absorbed by the GDAX exchange.
The whales have deep pockets to coordinate such an attack. I will not be as easy next time, as any guppy that has any brains will be putting buy orders in at lower than normal prices increasing the size of the order book.
Now if the whales have a way of seeing into the depth of the order book, it is simply a matter of math to determine how much is needed to dump to crush the order book again. The only thing that might be ethereum crashed from $319 to 10 cents in seconds on one is that users were locked out of the GDAX exchange during this sell off. Welcome to the wild, wild west It did what it was supposed to do You mean the ETH-a-sphere performed just like any other market?
I'm sure the detractors will be disappointed to hear that! Not if they're not listening, they won't! Hey there Dave, Yes, in short the ETH-a-sphere performed just like any other market I personally do not trade the cryptos, but I usually have WAY out of the money buy orders on a number of securities, as a guppy hoping to catch a ride from a whale.
In short there are Whales, Sheep, and Guppies, Whales move the market Sheep get sheered Guppies catch a ride on the back of whale occasionally. What I have not investigated is if the depth of the entire order book can be seen at the crypto exchanges. It's a series of 1s and 0s in cyberspace just like your supposed fiat in the bank. Why would you expect anything else?
I am a proponent of PM's, but I have exposure to the crypto space Horses were used as transportation for 's of years also, that was until the advent of the internal combustion engine and an endless supply of petro.
Which brings us back to money vs. Most today don't understand the difference, and throw around the terms interchangeably. There's even this on Kitco's Feature page: AS IF gold were a currency today. Gold is money, at least in the United States, but it is not a currency. Bitcoin is not governmentally sanctioned, but then the private Federal Reserve Note is nowhere established in U. They are both currencies and you can buy things with them, but they are not money.
Neither has any intrinsic substance. They are only supported by the willingness of the market to use them. This is why the "gone in seconds" detractors are so silly: The only real difference is that the cryptos are generally more strictly documented and regulated. How about using the definition that we wrote for ourselves, in Article I, Section 10? That only works for American law. I was referring to global humanity. Of course, the founding fathers had wisdom to ascribe a definition to intrinsic value, too bad our govt, from around the turn of the century monkeyed with the definition, purposefully obscuring the true value.
I remember the red notes Then the fed got "creative" and removed all reference on the note as to it's representative value. Thereby ushering in perpetual debasement. We have one area of the world that we CAN control, the States. Let's make it work here before we forget what we were going to do in the first place. Montana is starting the process that Texas has ratified. Before long, states will be doing business in real wealth, and all the paper money will flow to states like California, Illinois, and New York.
Then when the FRN implodes ethereum crashed from $319 to 10 cents in seconds on one inflation, us smart states will all of a sudden be very very very rich. Yep, gummint intervention is the answer! LOL Not sure if I understand your comment. Are you saying that states deciding to allow commerce between itself and others in PM financial transactions intervention, or going back to original constitutional freedom to do PM financial transactions?
Not sure if I understand your comment. The States, and the People have the freedom inherently. Whenever you hear the term "constitutional freedoms" or "constitutional rights" you are listening to the corporate drones whose rights come from the 14th Amendment franchise. We, the People's rights do not come from the Constitution, or the U.
Unless, of course, you ethereum crashed from $319 to 10 cents in seconds on one contracted to be "subject to the jurisdiction". Montanans, of all people, should know the difference! I'm not sure if you're opining for or or against this. Regarding post 18, I feel compelled to comment when a natural right of a U.
PM was a universal and accepted currency well into the 20th century in the U. I have no comment on the rights or privileges of any other citizens, or subjects.
Coinbase is reimbursing losses caused by flashcrash. That's really amazing, and they are also letting the orders that got filled at ridiculously low prices to stand as well. Interesting to know who the secret owner of that casino is, must have DEEP pockets. I don't even want to do the math WRT the making whole of stop loss losers and margin call losers, I do not even know what to think there.
Unless you are Tom on mountain men, you are getting continually F'ed by the "whale". Yes, no doubt, I think the system is more like a squid with their tentacles in every orifice imaginable, and not so much of an attack as just ethereum crashed from $319 to 10 cents in seconds on one contentious sucking sound.
Sounds like everyone involved is happy with the deal. Anyone want to explain that "Gone in seconds" thing to me now? Yes, Coinbase is bailing out those who lost, and most likely at little expense. Given their "less than savvy" choices involving margin and stop losses, they probably aren't the type of "sophisticated" investor who'd be far more costly to bail out. This creates the impression that Coinbase is there for you, which should help both to retain existing customers and gain new ones. It's a win-win for all, except for the notion of free markets and investor responsibility.
That is because the graph only goes back three months Unless the OP is trying to be funny, the graphs I see just don't support the premise. Like you said, a few might have been lucky to pick up some coins for a drastically discounted price, but I do not see a wholesale collapse of the price of ether.
I will go along with you there. Now take one more step, and realize ethereum crashed from $319 to 10 cents in seconds on one the yardstick used for the FRN "price" you speak of is just as elastic as the ETH you are measuring.
At least with silver quarters, or even sandwich slug quarters you have something at the end of the day. This may sound like I'm dissing the cryptos, but I'm not. What I am saying is that all of these are made of ethereum crashed from $319 to 10 cents in seconds on one same stuff -- nothing!
To say that some computer glitch is going to wipe out one hasn't happened yetis no more logical than to say that some government is not going to Mickey Mouse their brand of fiat currency has been done hundreds of times throughout history. So, what can we do?
Trade in the currency that is most useful, and most likely to hold its value. That is why their "price" has been going up, not down. As soon as their trading value has been established, their usefulness will outweigh the utility of the corrupt government issued currencies we've been traditionally basing our "price" judgements on. Your analogy is not far off This was a very interesting development to watch however. That's just speculation of course. But ETH is now starting to ethereum crashed from $319 to 10 cents in seconds on one like a classic bubble pattern.
Even traders with simple stop loss orders on GDAX got whacked as there were no buy orders to fill their stops at prices anywhere near their stops. On the other hand I would be nice if Seriously, the 2 times in the last few weeks I was going to buy ETH, coinbase has been inaccessible.
I find this very discouraging. I think the ponzi scheme in the crypto space may be this Bithumb said that the thieves stole a database of user information off the personal computer of an employee, rather than off the company's internal network. The attackers allegedly nabbed the names, email addresses, and mobile phone numbers no passwords, apparentlyof more than 31, customers, according to a Monday report from Yonhap, a South Korean news wire.
And please don't worry, your report will be anonymous. BTC Trader: Bitcoin Arbitrage Made Easy в Bitcoin Magazine. Download Lagu raspberry pi Bitcoin automated trading bot on Raspberry Pi.
We'll look into it.