Who is buying?

Moonman

I see 60k volume on the bottom exchange, does anyone know anything about this?

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Wellenreiter

Is that a valid entry? 19800 as exchange name looks strange to me, and $60000 US?!? is very much

ChekaZ

https://www.19800.com/market/cny_ftc/

AcidD

Guys…it says it right there…“Volume excluded - No Trading Fees / Other”

They did the same for the other Chinese exchanges and Bitcoin until China recently approached the biggest exchanges and told them they cant have trading without fees anymore.

Theoretically that 60K usd can be 1 person selling 160ish FTC back and fourth to themselves 60K times… No fees = 60K volume

Wellenreiter

@aciddude ok, that’s a possible explanation.

AmDD

@aciddude thats my thought as well. It creates a very false volume measure.

AcidD

For anyone who really cares about fake-ish volume…
http://coinmarketcap.com/currencies/bitcoin/#markets

Scroll down to the bottom or just do a search for “19800”

you’ll see that exchange and a lot of unknowns that have popped up with zero fee trading, this is mostly because the Big three exchanges in china halted zero fee trading:

http://www.coindesk.com/chinas-big-three-bitcoin-exchanges-end-no-fee-policy/
http://www.coindesk.com/chinas-central-bank-continue-bitcoin-exchange-inspections/

This one explains it
http://www.coindesk.com/bitcoin-volume-move-traders-embrace-no-fee-exchanges/

http://www.coindesk.com/change-china-means-bitcoin/

Enjoy!!!

surfguy72

I’m buying :)

bsotnikow

@surfguy72 No doubt man, me too at these prices nearing all time lows. And while Bitcoin is making the $1000 crypto coin a reality…

surfguy72

This is a good time for us small guys to get some FTC :) Things will correct from this bottom. There’s too much value in FTC.

surfguy72

at least thee’s some upvotes, yall are quiet :)

AmDD

@surfguy72 Even though prices are great right now, Ive decided I need to take some profits to pay off the farm I built this fall. So far Ive not paid anything towards it and rather was just buying coins.

Lordas

Same here - buying card->mining->buying extra card->mining… :)

Moonman

Plus there seems to be a silent accumulation phase right now, the richest ftc wallets are increasing in size. Now, if we could have a market cap >5-7mil… :)

surfguy72

@Moonman Looking at RSI and MFI on the 1d, looks like we should see some price movement in the next 10 to 15 days. I’m almost back to my holdings when I was mining with GPU on scrypt for FTC oh so many years back.

buying more! you guys think it can raise old btce times ?

surfguy72

@Indalo awww i do remember the FTC/BTC on btce days :) Anyone able to bid on the receivership coins? I haven’t been able to get a reply from them to do so

Moonman

@Indalo

Well its pretty simple in the case of small economic systems:
Price = marketcap / supply

For example 2 scenarios:

0,032/ftc = 5mil / 155mil
0,064/ftc = 10mil / 155mil

So, if a few million usd or eur will be injected to ftc… And not only for a pump with a ~20h peak, it would be possible.

Lordas

@surfguy72 said in Who is buying?:

@Indalo awww i do remember the FTC/BTC on btce days :) Anyone able to bid on the receivership coins? I haven’t been able to get a reply from them to do so

Me too… Actually I moved away from FTC at that time. To X11 coins - they were very popular at that time.

AmDD

Decided to pickup some more in this dip.