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Question: 1/17 Closing Price:
<$33,000 - 3 (5%)
$33,000-$34,000 - 1 (1.7%)
$34,000-$35,000 - 1 (1.7%)
$35,000-$36,000 - 0 (0%)
$36,000-$37,000 - 1 (1.7%)
$37,000-$38,000 - 4 (6.7%)
$38,000-$39,000 - 4 (6.7%)
$39,000-$40,000 - 4 (6.7%)
$40,000-$41,000 - 7 (11.7%)
$41,000-$42,000 - 6 (10%)
$42,000-$43,000 - 4 (6.7%)
>$43,000 - 25 (41.7%)
Total Voters: 60

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25057805 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. (156 posts by 12 users deleted.)
RandomPedestrianN9
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May 18, 2014, 08:13:22 PM

In the past, price has always went UP after any stable period.

I'm not sure how much longer the price will pretend to be stable, it may be weeks or months.

If the price drops from here and doesn't come back up, it would be a first in bitcoin history.

In 2013, the price may have went up after stagnation but that was because it was getting a lot of media attention and average Joes were buying in, this year, after many average Joes were robbed by exchange owners (not only MtGox) - 2 exchanges in my country stole the coins and money, this year my boy, its going to drop after stagnation.....is has been doing so since the beginning of 2014.

It has been going down for months but the price stability is probably a positive sign in this environnement

The demise of the USD and the probable fall of the Euro, Pound and Yen as well will make Bitcoin look very appealing

Either that or people are waiting for the crash to buy in lower and in the meantime only bots are now trading.
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JayJuanGee
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May 18, 2014, 08:15:31 PM

Anybody who opposes  *something i like or believe in* is a troll, a terrorist, a pedophile, a rapist and an idiot.

You are a troll b/c you are spreading FUD... You do NOT even attempt to back up what you are saying with either logic or facts.  Accordingly, you submit your stupid-ass statements, and expect someone else on the thread to do all the work of analysis and/or clarification.
RandomPedestrianN9
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May 18, 2014, 08:18:39 PM

Anybody who opposes  *something i like or believe in* is a troll, a terrorist, a pedophile, a rapist and an idiot.

You are a troll b/c you are spreading FUD... You do NOT even attempt to back up what you are saying with either logic or facts.  Accordingly, you submit your stupid-ass statements, and expect someone else on the thread to do all the work of analysis and/or clarification.

Free ignore hugs, there there.
JayJuanGee
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May 18, 2014, 08:28:14 PM

So I am puzzled by this calm, I can't understand what those Chinese sellers are waiting for.  

The nature of Bitcoin - once you sell it, you can't sell it again.

After 6 months of selling, no more coins in the sellers' hands.

Volume down.

Next: UP. No other way is even possible.

When: Don't know exactly, but 650 by the end of June is a possibility. Top could be in August-September.

Maybe.. but usually No Demand is a sign of a top. I'd like to see a monthly high volume up thrust.

I tend to agree with Rpietila, here.  The markets seem to be running out of people willing to sell BTC at the current price.  A very large majority of those who wanted to sell have already sold at prices - higher than the current price point.

To suggest that there is a lack of demand based on an overall lack of volume seems to be a misreading of the current state of affairs.

If you knew the current state of affairs for the
chart of bitcoin you would be the richest and smartest man on earth. I think you lack understanding on price. Anyways like I said technically no demand is bearish.. we need that tl to break with high volume as an upthrust.



You are suggesting that without volume BTC prices are going to continue to go down, and I do NOT believe that it is a given that BTC prices are going to continue to go down from here... even absent additional volume.   

Maybe you are more enlightened than me; however, I doubt that you are so much more enlightened as to proclaim that I "lack understanding of price."
JayJuanGee
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May 18, 2014, 08:43:48 PM

Anybody who opposes  *something i like or believe in* is a troll, a terrorist, a pedophile, a rapist and an idiot.

You are a troll b/c you are spreading FUD... You do NOT even attempt to back up what you are saying with either logic or facts.  Accordingly, you submit your stupid-ass statements, and expect someone else on the thread to do all the work of analysis and/or clarification.

Free ignore hugs, there there.

I am glad that I did NOT have to work too hard in order to achieve such recognition, from a troll who is NOT even interesting NOR good at it.   Cheesy
ChartBuddy
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May 18, 2014, 09:00:42 PM


Explanation
RandomPedestrianN9
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May 18, 2014, 09:08:09 PM

TO DA MOON! CHOO CHOO!
calmindifference
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May 18, 2014, 09:48:55 PM

The demise of the USD and the probable fall of the Euro, Pound and Yen as well will make Bitcoin look very appealing

You could be waiting a long time for that to materialise
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May 18, 2014, 10:00:43 PM


Explanation
JorgeStolfi
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May 18, 2014, 10:48:27 PM

You can't.  You have throw away that number and  compute a valid number.  It costs about $2k to buy 1 ghps, which burns .2 joule/gh at $0.1/kwh, and which gives you a 1.3x10^-8 chance at every 25 btc block reward (one every 9 minutes).  That difficulty increases 20% at each adjustment, every 12.8 days.  Now calculate.

OK, could you please confirm that this basic data is correct:

Protocol-defined data:

  Network block mining rate: BMR = 0.00185 blocks/s (1 every 9 minutes)
 
  Reward per block: RPB = 25 BTC  (currently, expected to be cut down by 50% in 2017 and every 4 years thereafter).
 
Network-dependent data:

  Total network hash rate: NHR = 65'000'000 GH/s

    [Source: blockchain.info estimate.]

Location-dependent data:

  Electric energy cost: CPE = 0.028 USD/MJ  (in rural US, 0.1 USD/(kW h))
 
    [Source: @aminorex]

Technology-dependent data:
 
  Cost of equipment: CEQ = 2000 USD/(GH/s) (modern equipment)
 
   [Source: @aminorex]

  Energy consumption: EPH = 0.2 J/GH
 
   [Source: @aminorex]
   
  Cooling and other costs: 30%--50%
 
   [Source: paper]

Bitconomy-dependent data:

  Average transaction rate: ATR = 0.73 trans/s (63'000 trans/day)
 
    [Source: blockchain.info]

  Average bitcoins output rate: ABR = 7.12 BTC/s  (615'000 BTC/day)
 
    [Source: blockchain.info]
 
  Average transaction fees rate: AFR = 0.00015 BT/s (13 BTC/day)
 
    [Source: blockchain.info]
 
[I wonder especially about the "Total network hash rate: NHR = 65'000'000 GH/s", is that really per second, per day, or what?]
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May 18, 2014, 10:53:46 PM

Volumes continue to be pretty low today on Stamp. The high and low prices are becoming a tighter and tighter range. Last time it was like this, volatility struck back with a vengeance. Mainly downward, so hopefully we will start seeing price improvements soon!
RandomPedestrianN9
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May 18, 2014, 10:57:17 PM

Volumes continue to be pretty low today on Stamp. The high and low prices are becoming a tighter and tighter range. Last time it was like this, volatility struck back with a vengeance. Mainly downward, so hopefully we will start seeing price improvements soon!
Someone posted some log charts today with 2-3 days remaining before it touches upper resistance line i think. Miners wont let it crash without fight :/
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May 18, 2014, 11:00:44 PM


Explanation
JorgeStolfi
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May 18, 2014, 11:03:48 PM

Nice trades on Huobi, the whole trade window is basically 0.01 BTC sell followed by 0.01BTC buy, one after another, short time spans. Feels like everyone took a snack break in China.
Indeed right now there is a very steady background traffic of ~1.8 BTC/min, started not long ago.  Check the 1m chart.

I recall seeing a similar steady background activity at MtGOX in December 2013, for days at a time.  And OKCoin may have had it, but much larger, since I started looking. 

Is that some bizarre tradng strategy, Huobi getting desperate about the low volume, or what?
RandomPedestrianN9
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May 18, 2014, 11:11:08 PM

Nice trades on Huobi, the whole trade window is basically 0.01 BTC sell followed by 0.01BTC buy, one after another, short time spans. Feels like everyone took a snack break in China.
Indeed right now there is a very steady background traffic of ~1.8 BTC/min, started not long ago.  Check the 1m chart.

I recall seeing a similar steady background activity at MtGOX in December 2013, for days at a time.  And OKCoin may have had it, but much larger, since I started looking. 

Is that some bizarre tradng strategy, Huobi getting desperate about the low volume, or what?


I think this artificial trading has been there since the beginning and only got more obvious now because of low volume. A stock i invested in a year ago had similar micro changes in price when everyone was waiting for news to come out. Its supposed to encourage traders activity, gotta admit it looks funny in situations like this.
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May 18, 2014, 11:13:53 PM

Man all I've been able to do is add to my ignore list as of late...I think I may have been the first to ignore that ped kid as I've been enjoying the odd quote that includes her/him that confirms my suspicions.

Let's see what Monday brings, China has been so quiet as of late on regulation...even Canada had a negative outlook from the banks recently.
RandomPedestrianN9
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May 18, 2014, 11:16:50 PM

Man all I've been able to do is add to my ignore list as of late...I think I may have been the first to ignore that ped kid as I've been enjoying the odd quote that includes her/him that confirms my suspicions.

Let's see what Monday brings, China has been so quiet as of late on regulation...even Canada had a negative outlook from the banks recently.

Welcome to Ignore. You guys need to try harder. Try ignoring 99.999% of the world supporting FUD (the truth).
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May 18, 2014, 11:18:18 PM

Man all I've been able to do is add to my ignore list as of late...I think I may have been the first to ignore that ped kid as I've been enjoying the odd quote that includes her/him that confirms my suspicions.

Let's see what Monday brings, China has been so quiet as of late on regulation...even Canada had a negative outlook from the banks recently.

I really preferred the old system, where new accounts were required to post first in the newbie section. Too bad it looks like theymos won't bring that back though.
RandomPedestrianN9
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May 18, 2014, 11:19:00 PM

Man all I've been able to do is add to my ignore list as of late...I think I may have been the first to ignore that ped kid as I've been enjoying the odd quote that includes her/him that confirms my suspicions.

Let's see what Monday brings, China has been so quiet as of late on regulation...even Canada had a negative outlook from the banks recently.

I really preferred the old system, where new accounts were required to post first in the newbie section. Too bad it looks like theymos won't bring that back though.

Yes, very valuable post, thank you. Welcome to Ignore.
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May 18, 2014, 11:22:14 PM

Man all I've been able to do is add to my ignore list as of late...I think I may have been the first to ignore that ped kid as I've been enjoying the odd quote that includes her/him that confirms my suspicions.

Let's see what Monday brings, China has been so quiet as of late on regulation...even Canada had a negative outlook from the banks recently.

I really preferred the old system, where new accounts were required to post first in the newbie section. Too bad it looks like theymos won't bring that back though.

It made tons of sense to me and helped me find the forum I wanted to be on when I first joined.

But hey the ignore works for both sides so we got that atleast.
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