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oakpacific (OP)
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March 22, 2013, 03:22:40 AM |
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Please vote.
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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alcibiades
Newbie
 Offline
Activity: 39
Merit: 0
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March 22, 2013, 03:58:08 AM |
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looks like there's one right now. There's a $1 million wall to get past 75, the equivalent of 100k BTC at $10.
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fancy_pants
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March 22, 2013, 04:09:48 AM |
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Yeah there's a wall and somebody just closed a huge long position on mpex. I just sold almost all btc I had that werent tied up in equities. I sat tight through pirateat40 and a few since then. Still long term bullish - just trying my luck at timing this time around...
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NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
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March 22, 2013, 04:11:57 AM |
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I think this one is our 'benevolent' manipulator. These walls have periodically gone up, seemingly for little more than to give the price some breathing room, preventing a completely explosive and thus potentially destructive climb and immediate crash scenario. This person probably uses these moments to load up on more coins also. This way they protect their investment while hoping for much more stable, higher prices. Usually these walls are pulled after the breather is complete.
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oakpacific (OP)
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March 22, 2013, 04:14:16 AM |
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I think this one is our 'benevolent' manipulator. These walls have periodically gone up, seemingly for little more than to give the price some breathing room, preventing a completely explosive and thus potentially destructive climb and immediate crash scenario. This person probably uses these moments to load up on more coins also. This way they protect their investment while hoping for much more stable, higher prices. Usually these walls are pulled after the breather is complete.
I would agree with you before we breached 2011 high, but now the price has gone from deflagration mode to detonation mode I don't know what to look for...  |
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sounds
Full Member
Offline
Activity: 140
Merit: 100
1221iZanNi5igK7oAA7AWmYjpsyjsRbLLZ
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March 22, 2013, 04:56:59 AM |
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Well, I would guess our "benevolent manipulator" is having a hard time putting out the fire all by his lonesome self. This is the real thing: explosive growth. (To be honest, I called the top at $65 and look what that got me.  ) |
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NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
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March 22, 2013, 05:12:06 AM |
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Well, I would guess our "benevolent manipulator" is having a hard time putting out the fire all by his lonesome self. This is the real thing: explosive growth. (To be honest, I called the top at $65 and look what that got me. ) Well... right now the price isn't going anywhere but down unless someone buys that 20k. They very well might, but it takes someone with that buying power to conquer these kinds of walls. |
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rpietila
Donator
Legendary
Offline
Activity: 1722
Merit: 1036
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March 22, 2013, 05:47:18 AM |
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I subscribe to the benevolent manipulator theory. There are some entities with lots of coins, and also some willingness to cash out to buy some real world goodies. The walls are just the right way to unload, because they bring some dampener to the rally (which is good), and enable some new entrant to take big positions (which is good). If all we did was similar to Bitstamp yesterday (no coins to be bought for anything but +5$ over Mt.Gox), the market would not accommodate any bigger investors and we would be in a precarious position if all the expensive coins were bought be the small investors only.
Healthy market = lots of investors, a few big and many small, and everybody having different entry points, expectations and plans.
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