Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[faalhaas]

Is this the bear trap before the next rally?
Dat volume :$
Whales loading hard.

[JimboToronto]

I don't know how and where they buy bitcoins, but i would like to know.

Where do you live?

Most large cities in most developed countries at least have Bitcoin ATMs and many have thriving Bitcoin communities where you can buy bitcoins directly from enthusiasts at Bitcoin centers or meet-ups.

localbitcoins and exchanges allow to buy BTC as well!

The trouble with Localbitcoins is that the prices are often too high.

The trouble with exchanges is that for many they are off-shore and require several banking days and expensive international transfers. Also they involve trust. Any exchange could be a MtGox waiting to happen.

[JimboToronto]

I was talking of coinbase. I don't know where they buy bitcoins when they don't have enough. I know how to do it for myself.

Oops. Sorry.

I missed the word "they".

I'm still on my first cup of coffee.  

[Cassius]

So if I'm interpreting this correctly, CB's purchasing of coins is limited by the speed of ACH transfers of new USD to the exchanges.  So what happens 3 business days from now, when their flood of new $ from today's Expedia news finally hits the exchanges?

Nice thought, but I don't buy it. Surely some interest would have filtered through to Stamp rather than backing up on Coinbase?

[fonzie]

200k Gox coins gettin moved (probably to Stamp)

https://bitcointalk.org/index.php?topic=519274.msg7246321#msg7246321

[kryptopojken]

200k Gox coins gettin moved (probably to Stamp)

https://bitcointalk.org/index.php?topic=519274.msg7246321#msg7246321

Yes they will probably be sold in a market order in the coming 10-15 minutes 

[madmat]

200k Gox coins gettin moved (probably to Stamp)

https://bitcointalk.org/index.php?topic=519274.msg7246321#msg7246321

Your "probably to Stamp" is based on nothing.

[Bitcoin_is_here_to_stay]

So if I'm interpreting this correctly, CB's purchasing of coins is limited by the speed of ACH transfers of new USD to the exchanges.  So what happens 3 business days from now, when their flood of new $ from today's Expedia news finally hits the exchanges?

Nice thought, but I don't buy it. Surely some interest would have filtered through to Stamp rather than backing up on Coinbase?

Yeah, I also do not see why it is a big news and why it should cause a rally? It is nice btc is accepted more widely, but buying with it still does not make much sense, rather than to make a statement. On Expedia, even money sundering does not make sense, as tickets are non-anonymous

Gox coins moving to Stamp, though, make much more sense as an explanation on a series of dumps on Stamp.

[Cassius]

So if I'm interpreting this correctly, CB's purchasing of coins is limited by the speed of ACH transfers of new USD to the exchanges.  So what happens 3 business days from now, when their flood of new $ from today's Expedia news finally hits the exchanges?

Nice thought, but I don't buy it. Surely some interest would have filtered through to Stamp rather than backing up on Coinbase?

Yeah, I also do not see why it is a big news and why it should cause a rally? It is nice btc is accepted more widely, but buying with it still does not make much sense, rather than to make a statement. On Expedia, even money sundering does not make sense, as tickets are non-anonymous

Gox coins moving to Stamp, though, make much more sense as an explanation on a series of dumps on Stamp.

200k on Stamp would have an effect like 9 billion Ripples being dumped.
No one would be that dumb.

[fonzie]

Possible BFX spread explanation:

A higher price if it is not liquidity related (low liquidity, large spread, low bid, high ask....) or fee related (higher fees, higher bid, higher ask) which we can safely rule out at the moment is often a sign of it being less attractive for people to withdraw fiat and instead withdraw btc leading to higher btc prices (think MtGox for a very long time), also the other way around (easier to deposit fiat ->higher btc price). This would fit as BFX offers no SEPA and now has % fees to withdrawals. It's also possible that as you said there is higher buy pressure because people have more buying power through margin trading although it could be argued that the ability to short on BFX should keep that in check.

With these possibilites it's probably a mix which leads to 1 to 2 % higher prices. BFX clients should definitely keep an eye on the spread though.

Also: the last time Bitfinex pulled out of an exchange it was G O X, a few months before they shutdown !
Stamp next?

[fonzie]

I really hope that they dump those 200k Goxcoins one after another on Stamp, so that all of Marks victims can soonish get partially refunded, it would be in the best interest of the Bitcoin community, altough we would have to accept that the price would go sub 300$.

Does anyone know who bought them when they were auctioned? Someone said they sold them for a price of around 1-200$?

[ChartBuddy]

Explanation

[fonzie]

Question for the whale Bitfinex long holders:

How do you feel now that Bitfinex have officially pulled out of Bitstamp and liquidity is going down more and more? How and when do you plan to close your positions?

I think Finex should at least have announced it publicly  a few weeks before they do such a major move. Have they thought that people would send millions of USD because they added Darkcoin  

[Torque]

Question for the whale Bitfinex long holders:

How do you feel now that Bitfinex have officially pulled out of Bitstamp and liquidity is going down more and more? How and when do you plan to close your positions?

I think Finex should at least have announced it publicly  a few weeks before they do such a major move. Have they thought that people would send millions of USD because they added Darkcoin  

fonzie, you do realize that when sub forum members see you and the other trolls show up and start posting like madmen, that it is actually a bullish signal?  

[MoreFun]

Arbitrage bot or user was just on his work. 50 BTC buy on stamp and sell on finex.

[ChartBuddy]

Explanation

[mmitech]

[Bitcoin_is_here_to_stay]

So if I'm interpreting this correctly, CB's purchasing of coins is limited by the speed of ACH transfers of new USD to the exchanges.  So what happens 3 business days from now, when their flood of new $ from today's Expedia news finally hits the exchanges?

Nice thought, but I don't buy it. Surely some interest would have filtered through to Stamp rather than backing up on Coinbase?

Yeah, I also do not see why it is a big news and why it should cause a rally? It is nice btc is accepted more widely, but buying with it still does not make much sense, rather than to make a statement. On Expedia, even money sundering does not make sense, as tickets are non-anonymous

Gox coins moving to Stamp, though, make much more sense as an explanation on a series of dumps on Stamp.

200k on Stamp would have an effect like 9 billion Ripples being dumped.
No one would be that dumb.

Well, Jed Caleb repeatedly confirmed that he is *that* dumb, he has actually started selling xrps. He is also creator and co-owner of Gox (12% shares). And co-defendant with Karpeles in the trial.

[Carra23]

Possible BFX spread explanation:

A higher price if it is not liquidity related (low liquidity, large spread, low bid, high ask....) or fee related (higher fees, higher bid, higher ask) which we can safely rule out at the moment is often a sign of it being less attractive for people to withdraw fiat and instead withdraw btc leading to higher btc prices (think MtGox for a very long time), also the other way around (easier to deposit fiat ->higher btc price). This would fit as BFX offers no SEPA and now has % fees to withdrawals. It's also possible that as you said there is higher buy pressure because people have more buying power through margin trading although it could be argued that the ability to short on BFX should keep that in check.

With these possibilites it's probably a mix which leads to 1 to 2 % higher prices. BFX clients should definitely keep an eye on the spread though.

Also: the last time Bitfinex pulled out of an exchange it was G O X, a few months before they shutdown !
Stamp next?

Stamp is doing well, do not se why it will go down.

Gox was doomed was apparent for months.

[Cassius]

So if I'm interpreting this correctly, CB's purchasing of coins is limited by the speed of ACH transfers of new USD to the exchanges.  So what happens 3 business days from now, when their flood of new $ from today's Expedia news finally hits the exchanges?

Nice thought, but I don't buy it. Surely some interest would have filtered through to Stamp rather than backing up on Coinbase?

Yeah, I also do not see why it is a big news and why it should cause a rally? It is nice btc is accepted more widely, but buying with it still does not make much sense, rather than to make a statement. On Expedia, even money sundering does not make sense, as tickets are non-anonymous

Gox coins moving to Stamp, though, make much more sense as an explanation on a series of dumps on Stamp.

200k on Stamp would have an effect like 9 billion Ripples being dumped.
No one would be that dumb.

Well, Jed Caleb repeatedly confirmed that he is *that* dumb, he has actually started selling xrps. He is also creator and co-owner of Gox (12% shares). And co-defendant with Karpeles in the trial.

Heh. Guess he must be pretty angry with the board to follow through on it.