We're way up in the bollinger band. Bid depths everywhere are horrible. China's new resistance after breaking 900 is... 915. I'm calling a retracement.
China depth isnt bad, relatively [although its like 2k for -5%, still] Gox is terrible on 150 |
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do we have enough vol for this to be undeniably bullish now?
everywhere but on gox gox does not count for anything anyway. Can we change the title of this thread to Wall Observer - XBT-FIAT wall movement tracker - Hardcore or something like that? Don't rename we're at 1700+ pages and need a restart. Maybe wait till 2000 but right now works for me. Adam? Gox is still leading, so it seems like the name is fine for now. No it's not. Yes it is: http://bitcoincharts.com/charts/volumepie/What timeframe is that based on? You can't just say the market with the highest volume is leading. The market that is LEADING is leading. In this rally its been China, followed by Bitstamp followed by Mtgox. If you are watching all the markets simultaneously, you would see that. Looking at a pie chart with no timetable is not an accurate model. CHINA leading? Omg, LMAO. Come on man.. you've got to be joking. Volume =/= leader Highest price =/= leader Leader = Sets market direction. Who is doing that? GOX. Barely, Bitstamp has quite a bit of power now. But its still led, for the most part, by Gox. No, the leader is the market that sets the direction that the others follow. Whichever market is generally setting the graph is the leader. This rally has been lead by China. Volume is not always the leader. And price? Price?? Are you kidding us?? Gox price is inflated, so price is no factor here at all. China hasnt led shit, lol. It is the reason for some bullish sentiment, but its absolutely not a leader. Gox inflated price is part of the trigger to the buyers on Bitstamp and BTCCNY |
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do we have enough vol for this to be undeniably bullish now?
everywhere but on gox gox does not count for anything anyway. Can we change the title of this thread to Wall Observer - XBT-FIAT wall movement tracker - Hardcore or something like that? Don't rename we're at 1700+ pages and need a restart. Maybe wait till 2000 but right now works for me. Adam? Gox is still leading, so it seems like the name is fine for now. No it's not. Yes it is: http://bitcoincharts.com/charts/volumepie/What timeframe is that based on? You can't just say the market with the highest volume is leading. The market that is LEADING is leading. In this rally its been China, followed by Bitstamp followed by Mtgox. If you are watching all the markets simultaneously, you would see that. Looking at a pie chart with no timetable is not an accurate model. CHINA leading? Omg, LMAO. Come on man.. you've got to be joking. Volume =/= leader Highest price =/= leader Leader = Sets market direction. Who is doing that? GOX. Barely, Bitstamp has quite a bit of power now. But its still led, for the most part, by Gox. |
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Um.
Allow me to point out the obvious.
If the US actually does default, the economy (which is right now precariously balanced on liquidity injections and ridiculous levels of federal spending) will likely collapse. That means gas shortages, food shortages, riots, etc.
Sure, the dollar will tank. But it doesn't matter how much BTC skyrockets or how much it is "worth" against another currency if there aren't any goods around to buy with it. You could price BTC with rice or gas but if there is no rice or gas such a measure is meaningless.
If there is no gas in the gas station what does it matter how much BTC is "worth"? If there is no food in the store what does it matter how much an ozt of gold is "worth" via some other measure, if there is no food to buy with it? It's merely an intellectual curiosity if there are no goods.
Who is going to accept currency for a good when they can't turn around and buy other goods with that currency?
The use for currencies - fiat or otherwise - in a post-default economic shutdown scenario is wayyy overstated by many of these alt media bitcoin/gold pundits.
Seems like nonsense to me. Doesnt matter if its China, Japan, or USA. If a huge economic powerhouse goes down, so does the rest. Theyre all relying on the same BS. There will certainly be a period of time where we recover, but this is not to say the world is "over" once America finally buckles. Believe it or not, there will still be a future after the tribulation; just as all other empires have kicked the bucket, we always figure out how to get along without them. As much as America would like you to believe that they're the center of the economic universe and their existence is necessary for the world to survive (reminds me of something God might say), it's not nearly as bad as it's being made out to be. My advice: don't be in America or one of its dependencies once SHTF and the effects will be minimal, assuming America doesn't attempt to nuke the planet to death to stay on top. |
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People still use Gox?
No, none at all  That's good, because that would be a silly mistake to make. Tell that to the 30mil in fiat and 100k coins on Gox. |
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do we have enough vol for this to be undeniably bullish now?
everywhere but on gox gox does not count for anything anyway. Can we change the title of this thread to Wall Observer - XBT-FIAT wall movement tracker - Hardcore or something like that? Don't rename we're at 1700+ pages and need a restart. Maybe wait till 2000 but right now works for me. Adam? Gox is still leading, so it seems like the name is fine for now. |
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People still use Gox?
No, none at all |
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Steep climb up on almost no volume without ask side replenishing. lordy, the next crash gonna be epic.
It seems to be stabilizing right around 30k, so the ask side doesnt seem to be quite paper-thin. I hope it stops refilling totally and the price just explodes. Then the bulls get burnt  |
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Damn some huge buys going on here... had an ask order at 146 that went through but now can't get back in.
Hopefully you waited. I don't get why he puts the wall at 144 when there are no asks at 145 or 146 lol edit: just saw this exact question was asked on the last page  Ask the people who have been offloading on Bitstamp the past 2 weeks. Probably 10-20k has been sold there in the past two weeks. (Random 300-1k walls appearing at low prices, getting eaten) |
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157 breached, same with 895 on btcchina. 140 on stamp is about to fall.
It already fell once. How big was the second ask wall? |
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We will have 5 of them in Finland next month. The first will be in a premier location in the heart of the capital city. These are interesting devices but I can't help feeling at least a few of them will be stolen for the money inside them as they're not very big and probably don't weigh enough to prevent people picking them up and running off with them. that seems irrational. They could just fill it with weights if that was a serious issue. However a BTC atm seems totally pointless to me. If 165 falls, the rally just stop or full on bubble commences. Pickexit points now fellow btc traders |
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 Unable to break 900. Resistance building. |
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i'm buying feathercoins  That reminds me, what happened to that exchange with PPCoin and Worldcoin and a bunch of other random ones? |
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I forgot that everyone lives in Japan again, DOH! |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. I found the information I was looking for. The Local Bitcoin weighted average price is not random at all even though it has a large variation. And you cannot buy bitcoins for anything cheaper than 96 euros anywhere in the world and that is only 3 % below the Bitstamp price. If you were correct in that the mtgox and Bitstamp price were unrealistically high, the Local Bitcoin price would be significantly lower: http://bitcoinity.org/markets/localbitcoins/EUR7d low: 73 7d hi: 125 USD: 7d low: 88 7d hi: 224 lolk. Why would you expect an OTC site to be anything more than a mirror of the main exchanges? The volume is awful. People dont panic buy or sell there. And if you want to get nitpicky, the prices there have barely increased despite the rally of the past hours. Do you understand the concept of variance or averages? In my opinion, the concept of equilibrium and arbitrage disproves your theory about price manipulation. And the volume that it shows is only for euro denominated trades and does not include USD denominated trades etc. One of these exchanges is relevant; one is not:  One happens to be LBTC, one happens to be MtGox. Take a guess. Not sure where you find the average price there, but still, its volume is awful, It should be expected to have a slight premium over other exchanges. |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. I found the information I was looking for. The Local Bitcoin weighted average price is not random at all even though it has a large variation. And you cannot buy bitcoins for anything cheaper than 96 euros anywhere in the world and that is only 3 % below the Bitstamp price. If you were correct in that the mtgox and Bitstamp price were unrealistically high, the Local Bitcoin price would be significantly lower: http://bitcoinity.org/markets/localbitcoins/EUR7d low: 73 7d hi: 125 USD: 7d low: 88 7d hi: 224 lolk. Why would you expect an OTC site to be anything more than a mirror of the main exchanges? The volume is awful. People dont panic buy or sell there. And if you want to get nitpicky, the prices there have barely increased despite the rally of the past hours. |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. Previously you could see the buying and selling prices of localbitcoins.com on bitcoinity.org - can't find it now, though. That graph should answer your hypothesis, though, since the market would reflect it, if mtgox' price was unrealistically high. I do, actually, often sell bitcoins below the mtgox price. So my conclusion is that mtgox' price might be a bit high and that Bitstamp sets the price here in Europe but if mtgox was way off the rest of the market, this would show up on localbitcoins.com. Localbitcoin prices are completely random and vary +/-50% from current market prices. Volume is very low. |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. If you want to withdraw go to localbitcoins.com and sell your bitcoins there via bank transfers or cash sells. If you live in Europe, you can also do it here: siriusmoney.com...Did you even read what you wrote? That involves BUYING. Since gox is leader, that is going to be bullish. Plus, good luck selling >100 coins at a reasonable loss on LBC. |
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The SR sell-off was pretty insane imo. The market showed its hand there and the bull is on the loose.
Indeed. The rebound is a very strong signal both fundamentally and technically imo. Fundamentally because it shows that the value of bitcoins is not dependent on one single merchant or website. Technically because it mimics the behavior of the price in the march/april price rise. I disagree. Its a mix of Gox and Bitstamp trying to be market leaders, but Gox just has a bit more pull. The fact that you cant withdraw -> price decreases can only be short term -> bitstamp follows, interprets as healthy market. Think about it. How can Gox price possibly go down? The only way is to sell to buy back for less. The fact it went thru $110 is pretty incredible. Why has the price gone up, now? Because idle money entered the market [low placed bids] while those who sold are now taking losses and buying back in. |
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