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Question: Oct. 5 Closing Price:
$0 - 5 (3.5%)
<$8,000 - 38 (27%)
$8,000-$8,500 - 16 (11.3%)
$8,500-$9,000 - 10 (7.1%)
$9,000-$9,500 - 13 (9.2%)
$9,500-$10,000 - 12 (8.5%)
$10,000-$10,500 - 10 (7.1%)
$10,500-$11,000 - 5 (3.5%)
$11,000-$11,500 - 2 (1.4%)
$11,500-$12,000 - 4 (2.8%)
>$12,000 - 17 (12.1%)
>$20,000 - 9 (6.4%)
Total Voters: 141

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21403064 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (108 posts by 21 users deleted.)
samson
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May 23, 2013, 01:06:52 PM
 #10341

Is everyone assuming that these other low volume unproven exchanges will function perfectly when under very heavy load, DDOS attacks, order book spam, withdrawal transaction spam, etc, etc ?

If so then I'm afraid people are going to be sorely disappointed when the same old problems that MtGox experienced happen all over again with each new exchange that becomes popular.

As far as I'm concerned the only platform that's been real world load tested so far is MtGox.
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Rampion
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May 23, 2013, 01:07:36 PM
 #10342


-Bitstamp Orderbook is looking better every hour


Unfortunately I do not see that. Bid sum at Bitstamp was $955k a few days ago. Now its $1.05M. That's a tiny improvement. And it is still a joke compared with the $20M sitting on Gox's order book.
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May 23, 2013, 01:18:34 PM
 #10343

bitstamp: everything short of the 120.0BTC wall just got bought up (wall is 350BTC).

Yes, there are still huge ask walls on bitstamp, but they got reduced by something like 2000BTC in the last 24hours. So there is definitely a lot of fiat pouring in. It just isn't sitting in the order book (which would be extremely stupid anyway, looking as how it can be used to buy cheap coins instead  Roll Eyes ).

And I am watching bitstamp on bitcoinity: those walls aren't being retracted - they really are being bought!

And "tiny" is the wrong adjective at least for bitstamp: It is handling around 25% of all BTC trading volume by now.
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May 23, 2013, 01:20:15 PM
 #10344

bitstamp: everything short of the 120.0BTC wall just got bought up (wall is 350BTC).

Yes, there are still huge ask walls on bitstamp, but they got reduced by something like 2000BTC in the last 24hours. So there is definitely a lot of fiat pouring in. It just isn't sitting in the order book (which would be extremely stupid anyway, looking as how it can be used to buy cheap coins instead  Roll Eyes ).

And "tiny" is the wrong adjective at least for bitstamp: It is handling around 25% of all BTC trading volume by now.


I'm not speaking about relative volume, I'm speaking about the bid sum. On gox you still have x20 the amount of fiat compared to Bitstamp, which is expected - it's much slower to move fiat than coins.
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May 23, 2013, 01:21:23 PM
 #10345

I'm not speaking about relative volume, I'm speaking about the bid sum. On gox you still have x20 the amount of fiat compared to Bitstamp, which is expected - it's much slower to move fiat than coins.

Right. Which is what I am saying.  Wink
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May 23, 2013, 01:25:04 PM
 #10346


-Bitstamp Orderbook is looking better every hour


Unfortunately I do not see that. Bid sum at Bitstamp was $955k a few days ago. Now its $1.05M. That's a tiny improvement. And it is still a joke compared with the $20M sitting on Gox's order book.

Total bid sum may not have increased as much, but lots of fiat was used to eat into the huge ask wall. Also bid sum from $100+ has increased by about 50% the past couple of days.
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May 23, 2013, 01:29:07 PM
 #10347


-Bitstamp Orderbook is looking better every hour


Unfortunately I do not see that. Bid sum at Bitstamp was $955k a few days ago. Now its $1.05M. That's a tiny improvement. And it is still a joke compared with the $20M sitting on Gox's order book.

Yes, you are right.
I was thinking of the bids that were put up recently, opposing the huge asks we have there, effectively weakening the selling pressure a bit.

Unfortunately I dont have any recent data and I might be proven wrong.

Still

I think a subtle rise to 130 is imminent. Expect it to happen in the next 2 hours.
I am also curious about how the spread between the exchanges will play a role in the next movements.
I think its too early to state that Bitstamp might take over, Gox still has credibility and only time will show if people are eager to test another exchange for its limits.

Disclaimer: I have no fiat on the exchanges, I made a 20 BTC purchase @ 87€ a couple of days ago for spending within the next weeks, so of course a steady rise would be appreciated Smiley
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May 23, 2013, 01:32:48 PM
 #10348


-Bitstamp Orderbook is looking better every hour


Unfortunately I do not see that. Bid sum at Bitstamp was $955k a few days ago. Now its $1.05M. That's a tiny improvement. And it is still a joke compared with the $20M sitting on Gox's order book.

Total bid sum may not have increased as much, but lots of fiat was used to eat into the huge ask wall. Also bid sum from $100+ has increased by about 50% the past couple of days.
Agreed, moonshot bids for $20 coins don't really count. I keep meaning to create an index that divides each bid/ask by the % distance from the current MMR. I think it would be much more insightful. I just can't square the maths to adjust for the fact that bids only differ by 100% but asks can be many 1000% higher. Anyone know how to properly adjust for that?
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May 23, 2013, 01:43:24 PM
 #10349

With such a low volume, we should go well above $130 to welcome a new uptrend. Let's see how strong is the bull's hope.
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May 23, 2013, 01:48:54 PM
Last edit: May 23, 2013, 01:59:49 PM by icekiss
 #10350

120.0BTC ask wall on bitstamp bought up.

With such a low volume, we should go well above $130 to welcome a new uptrend. Let's see how strong is the bull's hope.
I think since we broke through the mt.gox wall at 124.5 (tonight around 4:00 UTC) we can call this an upward trend instead of just jitter.  Smiley

EDIT: 126.0BTC wall on mt.gox getting eaten fast (400BTC eaten so far)!
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May 23, 2013, 01:58:49 PM
 #10351

Yep, $126 wall being chewed ATM.

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May 23, 2013, 01:59:25 PM
 #10352

Wall at $126?

.....and it's gone Cheesy
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May 23, 2013, 02:01:15 PM
 #10353

The last few days the price moved up when volume increased, went down when it decreased.

That's a good sign for the bulls. Buyers may get impatient.
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May 23, 2013, 02:02:53 PM
 #10354

blackreplica
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May 23, 2013, 02:07:54 PM
 #10355

We're getting major lag spikes. Haven't seen these in a while



On a more serious note...can anyone here speculate as to what has driven demand these past few hours? The only significant news in that window was the Nikkei crash.

Are people really seeing bitcoin as a safe haven? Or is something else at play?
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May 23, 2013, 02:11:18 PM
 #10356



look at the changes in asks and bids: lots of asks pulled, and lots of new bids inserted.

though I've also got a question: what is up with green downward bars on the bid side?  Undecided
moocowpong1
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May 23, 2013, 02:13:55 PM
 #10357


Agreed, moonshot bids for $20 coins don't really count. I keep meaning to create an index that divides each bid/ask by the % distance from the current MMR. I think it would be much more insightful. I just can't square the maths to adjust for the fact that bids only differ by 100% but asks can be many 1000% higher. Anyone know how to properly adjust for that?

Simple, just base it on the logarithm of the price.
kiko
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May 23, 2013, 02:14:28 PM
 #10358

ATTENTION SHOPPERS. ATTENTION SHOPPERS.
We are having a 5% discount sale on Bitcoins all this week.
Head on over to the BitStamp aisle where we have half a million dollars for the first customers in line.
Thank you and have a nice day.
xorglub
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May 23, 2013, 02:17:34 PM
 #10359

I wouldn't consider bitcoin as a "safe" heaven, but the alternatives have turned sour in the last few days/months...

Gold and silver are down
stocks just took a beating (2008 in the making ?)
fiat is being constantly inflated
commodities are up but for investing

so probably a lot of investors are getting out of the stock market at the moment and while they won't go all in we may see some now money testing the waters over the next few weeks.
samson
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May 23, 2013, 02:18:14 PM
 #10360

ATTENTION SHOPPERS. ATTENTION SHOPPERS.
We are having a 5% discount sale on Bitcoins all this week.
Head on over to the BitStamp aisle where we have half a million dollars for the first customers in line.
Thank you and have a nice day.

A lot of those coins are not going to get sold on Bitstamp, they will end up back on MtGox.
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