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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 21400825 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. (107 posts by 21 users deleted.)
Coinseeker
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May 23, 2013, 02:18:51 PM
 #10361

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.

ATTENTION SHOPPERS.  ATTENTION SHOPPERS.

We regret to inform you that the sale has been cancelled.
This employee has just been fired for spreading false rumors.
Please return to Mt.Gox so the rest of us can continue to take
advantage of the BitStamp discounts.

Thank you and have a nice day.   Grin
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Rampion
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May 23, 2013, 02:20:03 PM
 #10362

It looks like the ask wall at $127 is not going to be removed. Anyhow, it is a miniwall (aprox. BTC700). Let's see if the bulls are able to make it fall.

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May 23, 2013, 02:42:25 PM
 #10363

While the relly at mt.gox is taking a small breather, at bitstamp BTC continue to be bought up.
Ask wall at 120.5$ just got broken through. And isn't it crazy that the ticker for the last 2 1/2 hours on bitstamp looks like a moving average? There aren't any downticks at all.  Shocked

Edit: pic as proof:

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May 23, 2013, 02:48:12 PM
 #10364

While the relly at mt.gox is taking a small breather, at bitstamp BTC continue to be bought up.
Ask wall at 120.5$ just got broken through. And isn't it crazy that the ticker for the last 2 1/2 hours on bitstamp looks like a moving average? There aren't any downticks at all.  Shocked


That's hardly surprising considering how low the bid amounts and quantities have been.
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May 23, 2013, 03:05:43 PM
 #10365



That's much better than before.

If you had the numbers for each dollar rotated 90 degrees it would be even better. Then you could display the $ amounts for every $ and not every 5.
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May 23, 2013, 03:15:24 PM
 #10366

As this is our own FUD-spreading thread, let me quote you the email that the Blockchain.info operator got from Twilio, regarding a possible action against Bitcoin in China:

Quote
Hi Ben,

We got further information from our carrier confirming that business such as bitcoin is not a proper financial tool in China and the Authority may treat bitcoin as an illegal business. Unfortunately the China Telecom Authority has requested that all bit-coin traffic to China be blocked.

As the provider of the phone number, Twilio is responsible for assuring the carriers that no more traffic related to bitcoin will be sent to China. Therefore, I have removed your international SMS permission to China. Please do not turn this on or try sending SMS messages to mobile numbers in China. Doing so will very likely lead to immediate account suspension.

Again I'm sorry for the convenience. Please let me know if you have any additional questions.
Thanks,
Twilio Customer Support

Source: https://bitcointalk.org/index.php?topic=40264.msg2243603#msg2243603
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May 23, 2013, 03:19:08 PM
 #10367

As this is our own FUD-spreading thread, let me quote you the email that the Blockchain.info operator got from Twilio, regarding a possible action against Bitcoin in China:

Quote
Hi Ben,

We got further information from our carrier confirming that business such as bitcoin is not a proper financial tool in China and the Authority may treat bitcoin as an illegal business. Unfortunately the China Telecom Authority has requested that all bit-coin traffic to China be blocked.

As the provider of the phone number, Twilio is responsible for assuring the carriers that no more traffic related to bitcoin will be sent to China. Therefore, I have removed your international SMS permission to China. Please do not turn this on or try sending SMS messages to mobile numbers in China. Doing so will very likely lead to immediate account suspension.

Again I'm sorry for the convenience. Please let me know if you have any additional questions.
Thanks,
Twilio Customer Support

Source: https://bitcointalk.org/index.php?topic=40264.msg2243603#msg2243603

Any Chinese who want to buy will find a way, especially if it's banned.
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May 23, 2013, 03:21:20 PM
 #10368

Trading appears to have stopped, this seems suspicious

Edit:  One or two trades happening now, maybe everyone was just on a tea break
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May 23, 2013, 03:22:59 PM
 #10369

That's the thing about China, you can get wiped out by the CCP at any time, and once it begins you can't do anything about it. People who are throwing huge sums of BTC into Asic Miner shares don't seem to realize that. The risk of ruin from being totally wiped out in an AM investment is multiple times higher than being totally wiped out in a straight BTC investment is. But people are thrilled to get 0.02B in dividends, so they get what they deserve.
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May 23, 2013, 03:24:54 PM
 #10370

OK summary time:

-Asks are dropping
-Bitstamp Orderbook is looking better every hour
-We are still at 125, though on low volume, nothing pulled it back this time
-Low Volume german exchange bitcoin.de: availaible Coins steadily decreasing
-Recent Good news not priced in yet ( i think)
-No Apocalypse regarding the dwolla issue Wink
-Another spike in Chinas interest this week (yeah i wouldn't call it a hype either, but you get the idea)

Bullish to me, see you at the top.




Thanks for the info.

How are you tracking Bitcoin.de's available coins? I see it available on their marketplace section of the website, but is there also a record of it? (You have one maybe???)
I just looked and there are 4369 coins available. I think the other day it was at 7k but can't be sure.
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May 23, 2013, 03:25:44 PM
 #10371

Something weird here:



Look at that chart. Both the bid and ask amounts are declining. But then you notice that a "tick" down for bids is drawn in such a way that it is much more than a "tick" down for the asks. Yet, the price is going up. The only logical conclusion that can be drawn from this is that people are slowly realizing that being in the Gox orderbook (which is public knowledge and reported as market depth) is an inherent disadvantage, and thus while the bid and ask sums are declining the trades are still being executed through market orders or very-close-to-market-orders.
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May 23, 2013, 03:27:35 PM
 #10372

Something weird here:

Look at that chart. Both the bid and ask amounts are declining. But then you notice that a "tick" down for bids is drawn in such a way that it is much more than a "tick" down for the asks. Yet, the price is going up. The only logical conclusion that can be drawn from this is that people are slowly realizing that being in the Gox orderbook (which is public knowledge and reported as market depth) is an inherent disadvantage, and thus while the bid and ask sums are declining the trades are still being executed through market orders or very-close-to-market-orders.

IMO that only means that both fiat and coins are saying "bye bye" to MtGox, slowly but steadily.
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May 23, 2013, 03:33:35 PM
 #10373

Something weird here:

Look at that chart. Both the bid and ask amounts are declining. But then you notice that a "tick" down for bids is drawn in such a way that it is much more than a "tick" down for the asks. Yet, the price is going up. The only logical conclusion that can be drawn from this is that people are slowly realizing that being in the Gox orderbook (which is public knowledge and reported as market depth) is an inherent disadvantage, and thus while the bid and ask sums are declining the trades are still being executed through market orders or very-close-to-market-orders.

IMO that only means that both fiat and coins are saying "bye bye" to MtGox, slowly but steadily.

That only partially explains this. The issue is that dollar volume is still roughly in the same range it always was.
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May 23, 2013, 03:34:14 PM
 #10374

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?

The bolded is like saying "Hey, why is everybody running away, he only fired 10 shots and is almost out?"  Grin

Do you realize what a 7% drop in Japans stock market is like, right after all the Quantitative Criticism they have received lately? Further, the European markets were down 2%, not sure about now.
The Plunge Protection Team (aka Federal Reserve) is at work on the American markets I'm sure.

Global confidence is low, and a few more drops like the above can set off a catastrophe. Just think of what losing 7% of value must be like to some people...

IAS
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May 23, 2013, 03:37:09 PM
 #10375

The issue is that they are printing a ton of money and the value in the money dropped 7%. Now, notice that it has gone up a sizable amount previously this year, but still.

When you take into account that there is not-yet-fully-realized inflation in the money supply, that loss ends up looking a lot bigger.
Zangelbert Bingledack
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May 23, 2013, 03:40:59 PM
 #10376

Inflation would be priced in, since the Nikkei is denominated in yen. It would just make the index go higher. Also, a 7% drop in the entire index is huge. That means many stocks fell much further.
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May 23, 2013, 03:44:22 PM
 #10377

And isn't it crazy that the ticker for the last 2 1/2 hours on bitstamp looks like a moving average? There aren't any downticks at all.  Shocked

Reload the page... Bitcoinity fails bad at updating the graph live.
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May 23, 2013, 03:51:20 PM
 #10378

Relax about China; the Chinese have been figuring out how to get around the CCP's censorship for years. Sure, it means an adoption boom is unlikely but we'll still see some support from China. Maybe those interested will just move to OTC.

China attempting to block bitcoin traffic = good news for bitcoin(they legitimize it by banning it)

Nikkei crashing 7% = good news for bitcoin (if you have been following Japan recently you'll know why)

Most of the "bad news" is really good news. Heck, the Gox lawsuit and Dwolla seizure was good news, and people moving away from Gox is good news. Finally folks are starting to realize that we live in bizarro-world where everything is the opposite of what it seems.....
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May 23, 2013, 03:57:50 PM
 #10379


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.

This sounds really really interesting. Who is going to give us easy online access first?  Wink
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May 23, 2013, 04:04:43 PM
 #10380

Inflation would be priced in, since the Nikkei is denominated in yen. It would just make the index go higher. Also, a 7% drop in the entire index is huge. That means many stocks fell much further.

Exactly. If there is, say, 4% inflation, then the 7% drop is actually a 11% drop in actual value. (Clearly there wasn't 4% inflation today, I was just using it to illustrate a point).

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