150$ today

[Gordonium]

Rally starts now!

[deadweasel]

Rally starts now!

$500k order just ate chunk of wall.  yummy.   

[Kazu]

lag of over a minute again 

That might slow shit down.

[Gordonium]

[BitSlut69]

Yeah, I think today's difficulty increase coupled with a recent decline in the network hash rate means BTC will be at $150 USD or more this evening.

[Brushan]

Yeah, I think today's difficulty increase coupled with a recent decline in the network hash rate means BTC will be at $150 USD or more this evening.

Why? Not saying you're not right, just curious about how difficulty increases and dropped hashrates affect prices.

[PachucoBro]

Yeah, I think today's difficulty increase coupled with a recent decline in the network hash rate means BTC will be at $150 USD or more this evening.

Hadn't look at that chart since I saw it spike up to 80GH/s the other day, which I figured was from all the ASIC miners coming online. Did they turn them off today? That is a big drop from yesterday.

[mgio]

Come on $150... the stress today has been driving me crazy!

Hopefully a ton of people do have sell orders waiting up at 150 or right before.

[kiko]

Yeah, I think today's difficulty increase coupled with a recent decline in the network hash rate means BTC will be at $150 USD or more this evening.

Why? Not saying you're not right, just curious about how difficulty increases and dropped hashrates affect prices.

Bitcoin is mined at a steady rate over the long term, but in the short term supply can be increased by ramping the hashrate, this lasts until the miners get spanked by the difficulty reset once every few weeks.  This assumes a large proportion of miners are selling what they produce, something I doubt right now.

[BitcoinTate]

Wow, that $150 wall has come down fast.

[PachucoBro]

Yeah, I think today's difficulty increase coupled with a recent decline in the network hash rate means BTC will be at $150 USD or more this evening.

Why? Not saying you're not right, just curious about how difficulty increases and dropped hashrates affect prices.

Bitcoin is mined at a steady rate over the long term, but in the short term supply can be increased by ramping the hashrate, this lasts until the miners get spanked by the difficulty reset once every few weeks.  This assumes a large proportion of miners are selling what they produce, something I doubt right now.

Actually I would say alot of miners are selling what they mine to get back the USD they spent on their rigs and electricity.

Back to the hashrate... Now that I think about it. If the ASIC miners lower the hashrate at the time for the dificulty reset... can't the difficulty stay where it's at or possibly go lower??? Maybe it is a strategy to keep the difficulty where it is at without it rising.

EDIT: in December 2012 and February 2013 the Difficulty actually lowered due to the network hashrate being low.

[zarl]

Wow, that $150 wall has come down fast.

Im trying to learn all this.. as fast as possible
I not like to ask stupid questions, but anyway..
What does 150$ wall mean ?

[mccorvic]

Wow, that $150 wall has come down fast.

Im trying to learn all this.. as fast as possible
I not like to ask stupid questions, but anyway..
What does 150$ wall mean ?

If people put up a lot of bitcoins to be sold at a specific price, in this case $150, then it creates a vertical line on charts. 

[BitcoinTate]

Wow, that $150 wall has come down fast.

Im trying to learn all this.. as fast as possible
I not like to ask stupid questions, but anyway..
What does 150$ wall mean ?

And typically they occur at round even numbers such as $150, next one will be $200. It's a psychological thing... easier to add up your profit that way

[zarl]

If people put up a lot of bitcoins to be sold at a specific price, in this case $150, then it creates a vertical line on charts. 
[/quote]

How it come down fast then, people been removing these offers ?

[Chalkbot]

Wow, that $150 wall has come down fast.

Im trying to learn all this.. as fast as possible
I not like to ask stupid questions, but anyway..
What does 150$ wall mean ?

You'll see images like this in the "Wall Observer" thread:

[PachucoBro]

Thanks for this image and the WALL explanation because it actually got me to understand the rest of the chart. I went to that site and saw that big, ugly, blurry, sideway looking chart ans was like WTF?!

[BitcoinTate]

If people put up a lot of bitcoins to be sold at a specific price, in this case $150, then it creates a vertical line on charts. 

How it come down fast then, people been removing these offers ?
[/quote]
People buying themselves some shinny new coin

[zarl]

Ok .. thanks for educating me
I like this Bitcoin thing Alot .. because i have some coins i buy last year for 12$ each
What a fucking rush

[ElectricMucus]

lulz


scnr