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Question: 1/24 Closing Price:
<$32,000 - 0 (0%)
$32,000-$33,000 - 1 (11.1%)
$33,000-$34,000 - 0 (0%)
$34,000-$35,000 - 2 (22.2%)
$35,000-$36,000 - 1 (11.1%)
$36,000-$37,000 - 1 (11.1%)
$37,000-$38,000 - 1 (11.1%)
$38,000-$39,000 - 0 (0%)
$39,000-$40,000 - 0 (0%)
$40,000-$41,000 - 1 (11.1%)
$41,000-$42,000 - 0 (0%)
>$42,000 - 2 (22.2%)
Total Voters: 9

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25067329 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. (157 posts by 13 users deleted.)
JorgeStolfi
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May 18, 2014, 11:29:42 PM

Indeed right now there is a very steady background traffic of ~1.8 BTC/min, started not long ago.  Check the 1m chart.
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.
I have looked a lot at Huobi's data for the last 3 months, especially at late night hours, and never saw such pattern.  Volume was usually very low and irregular between 02:00 and 06:00 local time, which is 18:00 and  22:00 UTC.  This steady background started suddenly today at 18:11 UTC. 

This backgound, if it continues the whole day, will add ~2700 BTC to Huobi's daily volume (which was 9279 BTC yesterday (Sat May/17), and looks like it will be amost the same today.
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May 18, 2014, 11:33:32 PM

Is the "This user is currently ignored" sentence some new meme, cause I see more and more people using it nowadays...

Does anyone have an IgnoreList chart to provide ? or more seriously a bitcointalk number of users chart ?

On-topic : we already broke linear resistance trendline, and are really close to the log. one.
I guess the 2 next weeks will be interesting. Time to send more fiat onto exchanges (whether breaking up or down).
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May 18, 2014, 11:51:10 PM

 the ignored seem to take over kinda sorta ... Tongue
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May 19, 2014, 12:00:46 AM


Explanation
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May 19, 2014, 12:01:46 AM

i dont like that chart when the green wall is like that.
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May 19, 2014, 12:12:59 AM

I promised myself that when I get an entire page of ignores I'll go find another place to hang out. The day is coming sooner than I anticipated.
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May 19, 2014, 12:16:11 AM

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.

<snip>
  
[I wonder especially about the "Total network hash rate: NHR = 65'000'000 GH/s", is that really per second, per day, or what?]

there is no way to really calculate the total hash rate, we can only estimate based on the current difficulty and the speed at which blocks are created.

luck plays a role, and the hashrate estimate seems to be fluctuating between 65-85 peta hashes per second currently, so the blockchain data seems roughly close enough. (source = http://bitcoin.sipa.be/  )

And yes, that is actually 65 Trillion Quadrillion hashes per second. pretty impressive for an open-source beta project, don't you think?


-also, just noticed this part
Quote
Technology-dependent data:
 
  Cost of equipment: CEQ = 2000 USD/(GH/s) (modern equipment)
 
   [Source: @aminorex]

I think that's a typo or something, should be closer to 2000 USD/(TH/s) I believe.
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May 19, 2014, 12:29:36 AM

Getting rid of those stashes...
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May 19, 2014, 12:36:26 AM

Huobi's 1m chart is crazy.  There is a relatively large actual spread, and an ongoing fight between the "0.01 BTC" ping-pong robot, whose purpose apparently is to keep the price near the top of the spread, and other users who are trying to sell.
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May 19, 2014, 12:37:51 AM

-also, just noticed this part
Quote
Technology-dependent data:
 
  Cost of equipment: CEQ = 2000 USD/(GH/s) (modern equipment)
 
   [Source: @aminorex]

I think that's a typo or something, should be closer to 2000 USD/(TH/s) I believe.
Thanks! That makes more sense... 
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May 19, 2014, 12:54:15 AM

there is no way to really calculate the total hash rate, we can only estimate based on the current difficulty and the speed at which blocks are created.

luck plays a role, and the hashrate estimate seems to be fluctuating between 65-85 peta hashes per second currently, so the blockchain data seems roughly close enough. (source = http://bitcoin.sipa.be/  )

And yes, that is actually 65 quadrillion hashes per second. pretty impressive for an open-source beta project, don't you think?
Thanks! Yes, pretty impressive.

All my computing life I have been taught and taught students how to compute things in the most efficient way.  It turns my stomach seeing that much computing power (and electrical power) wasted.  Tongue

Do you people really believe that big miners will be more honest and less greedy than big bankers?
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May 19, 2014, 01:00:47 AM


Explanation
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May 19, 2014, 01:10:45 AM

there is no way to really calculate the total hash rate, we can only estimate based on the current difficulty and the speed at which blocks are created.

luck plays a role, and the hashrate estimate seems to be fluctuating between 65-85 peta hashes per second currently, so the blockchain data seems roughly close enough. (source = http://bitcoin.sipa.be/  )

And yes, that is actually 65 quadrillion hashes per second. pretty impressive for an open-source beta project, don't you think?
Thanks! Yes, pretty impressive.

All my computing life I have been taught and taught students how to compute things in the most efficient way.  It turns my stomach seeing that much computing power (and electrical power) wasted.  Tongue

Do you people really believe that big miners will be more honest and less greedy than big bankers?


Again your crystal ball might need cleaning.

Even with Bitcoin becoming ubiquitous it would take a great deal of time to replace the massively unbalanced status quo with a whole new massively unbalanced scenario - and that turn of events is by no means certain.  

During that time, finance would be fairer.  

That hashing power is facilitating and securing that fairness.  So it's not wasted.
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May 19, 2014, 01:11:17 AM

I just covered the last of my shorts. I have no idea if this market is going up or down.

I do believe that real bad news from China and the floor will melt under this market quickly. And by bad news, I mean an out right ban of exchanges or Houbi declaring insolvency.

However, if those things don't happen, I could see a mini bull run to the 600s. So I'm going to sit back and see which direction we go. No reason to gamble here.
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May 19, 2014, 01:26:41 AM

there is no way to really calculate the total hash rate, we can only estimate based on the current difficulty and the speed at which blocks are created.

luck plays a role, and the hashrate estimate seems to be fluctuating between 65-85 peta hashes per second currently, so the blockchain data seems roughly close enough. (source = http://bitcoin.sipa.be/  )

And yes, that is actually 65 quadrillion hashes per second. pretty impressive for an open-source beta project, don't you think?
Thanks! Yes, pretty impressive.

All my computing life I have been taught and taught students how to compute things in the most efficient way.  It turns my stomach seeing that much computing power (and electrical power) wasted.  Tongue

Do you people really believe that big miners will be more honest and less greedy than big bankers?


When it come to wasted computing resources I would take a very long hard look at DRM and the licensing policies of companies like Microsoft and Apple before taking a look at Bitcoin. Ever wonder why eWaste is the fastest growing environmental problem? Hint compare the price of Microsoft Windows or Microsoft Office with and without the purchase of a new computer. As for Apple one has to buy a new computer in order to run their OS X software.
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May 19, 2014, 02:00:44 AM


Explanation
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May 19, 2014, 02:06:59 AM

The biggest FUD of all time for wall observers. The price of bitcoin will remain flat.  Shocked
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May 19, 2014, 02:35:30 AM

I really preferred the old system, where new accounts were required to post first in the newbie section.

Amen. The sheer stupidity and obnoxiousness of pathetic trolls like RandomPed should be enough to keep them from ever graduating from the noob section.  

On the other hand, there's some entertainment to be had from feeling superior to these morons, and from trying to guess what their previous names were. This is why I rarely use the ignore function.

Who was RandomPed in his last incarnation? Fonzie? MatTheTwat? Igorr? It's fun to speculate.

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May 19, 2014, 03:00:46 AM


Explanation
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May 19, 2014, 03:33:20 AM

Early Monday volume start in China.
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