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

[oda.krell]

Why Bitcoin’s Scoring in Argentina
Now this is the kind of news I like to read. [ ... ]

What I see is a marketing push by SecondMarket and Pantera to convince Argentinians that bitcoin is a hedge against inflation (!) and therefore they should invest in SMBIT and PBP.   Which are not doing well in the US, meh?

It is Neo & Bee for Argentina, only with marketing and muscle upped an order of magnitude.  And not managed by a small-time crook.

You conflate the 'investment opportunity to shady types' aspect with the 'additionals options through technology' one. Ignore, if you will, all of that article except for the localbitcoins aspect.

There’s no way for sure to measure the uptake of bitcoins in any country, but the evidence suggests Argentina is outpacing most. The number of traders listed on Local Bitcoins Buenos Aires is often three times that of Manhattan, for example, and the Fundacion Bitcoin Argentina is known to run the largest bitcoin meetup in the world.

You will then still (I suspect) argue that it's only a marketing ploy. I doubt that, though. If Argentinians are as cynical about promises as I got the impression they are*, no Pantera marketing push was the cause for this uptake in usage. It's more likely that the investment opportunity arose from the usage increase.


* source: Argentinian friend. Extremely skeptical of Bitcoin, though

[tarmi]

regular 500 coin dump every 8 hour.

[iram3130]

regular 500 coin dump every 8 hour.

May be some whale selling slowly so market will not down quickly.

[TERA]

Explanation

here comes the boom

calm before the storm

hang onto your hats traders


drop in nearly all alts

sharp rise in btc

traders moving from alts to btc in anticipation of a huge rise


care to speculate

Usually the effect of the alts dropping is reactive rather than proactive.

[Miz4r]

This thread is becoming unbearable

if people like shroomskit stopped bashing on every analyze or a prediction or a question and simply not take everything personally this thread would be cleaner, but well this is what happens when the price is not moving.

as I said before, Bitcoin needs bubbles for its survival, if that doesn't happen soon, the community will simply kill it.

What do you mean by: "the community will simply kill it"?

He probably means that the community is so addicted to bubbles that they need another one soon or they start suffering from bubble withdrawal symptoms and die as a result. You can just look at mmitech and already see the early symptoms.

[tarmi]

regular 500 coin dump every 8 hour.

May be some whale selling slowly so market will not down quickly.

yes. someone waiting for the bids to fill above 560.

570 acting as a resistance.

[ShroomsKit]

Ok, i have 2 simple questions.
It's clear that this small auction completely controls the market. The market is filled with fear. It's reasonable to assume we even already went down 30 dollars because of this (which is insane btw).
Apparently people expect a rally or a dump depending on the outcome.

1: What will cause the rally and what will cause the dump?
2: Why is this considered so extremely important at the moment?

I really must be missing something. Hopefully someone can fill me in.

[iram3130]

Ok, i have a question.
It's clear that this small auction completely controls the market. The market is filled with fear.
Apparently people expect a rally or a dump depending on the outcome.
I have 2 simple questions:

1: What will cause the rally and what will cause the dump.
2: Why is this considered so extremely important at the moment.

I really must be missing something. Hopefully someone can fill me in

Do you think 30k is small auction. I really don't think, anyone will manipulate market with that number of Bitcoins.

[ChartBuddy]

Explanation

[empowering]

Ok, i have a question.
It's clear that this small auction completely controls the market. The market is filled with fear.
Apparently people expect a rally or a dump depending on the outcome.
I have 2 simple questions:

1: What will cause the rally and what will cause the dump.
2: Why is this considered so extremely important at the moment.

I really must be missing something. Hopefully someone can fill me in

I think that this forum acts as a magnifier...  (of peoples opinions)  there are far larger forces at play here than this auction... but the market likes any excuse, also the market does not need an excuse and the market is not always smart... lots of posturing and positioning and speculation from speculators... the market will shake this off like a case of the fleas and a few weeks down the line it will be all forgotten and there will be another thing to focus the magnifying glass on.. there will be dips and peaks, highs and lows... the market will move because that is what markets do.
 All the while there are several larger forces at play... tick tock tick tock

[ShroomsKit]

Ok, i have a question.
It's clear that this small auction completely controls the market. The market is filled with fear.
Apparently people expect a rally or a dump depending on the outcome.
I have 2 simple questions:

1: What will cause the rally and what will cause the dump.
2: Why is this considered so extremely important at the moment.

I really must be missing something. Hopefully someone can fill me in

I think that this forum acts as a magnifier...  (of peoples opinions)  there are far larger forces at play here then this auction... but the market likes any excuse, also the market does not need an excuse and the market is not always smart... lots of posturing and positioning and speculation from speculators... the market will shake this off like a case of the fleas and a few weeks down the line it will be all forgotten and there will be another thing to focus the magnifying glass on.. there will be dips and peaks, highs and lows... the market will move because that is what markets do.
 All the while there are several larger forces at play... tick tock tick tock

I completely agree with this. So that's why i ask these questions. Because it doesn't make sense.

[empowering]

Ok, i have a question.
It's clear that this small auction completely controls the market. The market is filled with fear.
Apparently people expect a rally or a dump depending on the outcome.
I have 2 simple questions:

1: What will cause the rally and what will cause the dump.
2: Why is this considered so extremely important at the moment.

I really must be missing something. Hopefully someone can fill me in

I think that this forum acts as a magnifier...  (of peoples opinions)  there are far larger forces at play here then this auction... but the market likes any excuse, also the market does not need an excuse and the market is not always smart... lots of posturing and positioning and speculation from speculators... the market will shake this off like a case of the fleas and a few weeks down the line it will be all forgotten and there will be another thing to focus the magnifying glass on.. there will be dips and peaks, highs and lows... the market will move because that is what markets do.
 All the while there are several larger forces at play... tick tock tick tock

I completely agree with this. So that's why i ask these questions. Because it doesn't make sense.

Markets are often/partly motivated by fear and greed, and by the ever interlinked and pesky micro economics of each individual participant within the market. Speculative markets at times are, or appear irrational because they are based on emotion at their core and emotions are irrational. Some people understand this and use that knowledge.

Timing and risk mitigation is everything for speculators... meanwhile ......

Fear and greed, bulls and bears, pigs and whales ...............and ecosystems.

Meat and bone – the market churns on.

[Miz4r]

1: What will cause the rally and what will cause the dump?

A rally might happen because the parties who were outbid on the auction may look elsewhere to get their coins and add to the buying pressure, also the media attention could bring in more people. And there may be forces at work the past weeks to keep the price down to get a better price on the auction, and those forces will disappear after the auction which could also spark a rally as selling pressure suddenly vanishes.

A dump might happen if those coins were bought way below market making people nervous about a dump and wondering whether currently Bitcoin is overvalued. This could easily snowball into a sell-off.

But there are many other factors at work at the same time as well, the auction isn't the only thing that determines whether we will see a rally or a dump.

2: Why is this considered so extremely important at the moment?

Bitcoin is a thinly traded market and thus a few million dollars can easily move the price around in whatever direction. The auction attracts parties who have many millions of dollars lying around so it's not hard to believe that some of these parties will keep a tight grip on the market until the auction is over. Even the possibility of this will just keep the market obsessed about it until this is over. At least that is my opinion.

[Hunyadi]

Why Bitcoin’s Scoring in Argentina

Now this is the kind of news I like to read.

Not some hyped up merchant thingy that might or might not affect price in 2 years from now. Not some vague promise by the CEO of payebayamazon to, maybe, at some point, if it ever becomes convenient, think about integrating Bitcoin.

This is what I think should drive Bitcoin adoption in the early phase: providing the means to route around a damaged system. Hope it'll be more than just a passing fad for them.

Yes, this is excellent news!

[ShroomsKit]

1: What will cause the rally and what will cause the dump?

A rally might happen because the parties who were outbid on the auction may look elsewhere to get their coins and add to the buying pressure, also the media attention could bring in more people. And there may be forces at work the past weeks to keep the price down to get a better price on the auction, and those forces will disappear after the auction which could also spark a rally as selling pressure suddenly vanishes.

A dump might happen if those coins were bought way below market making people nervous about a dump and wondering whether currently Bitcoin is overvalued. This could easily snowball into a sell-off.

But there are many other factors at work at the same time as well, the auction isn't the only thing that determines whether we will see a rally or a dump.

2: Why is this considered so extremely important at the moment?

Bitcoin is a thinly traded market and thus a few million dollars can easily move the price around in whatever direction. The auction attracts parties who have many millions of dollars lying around so it's not hard to believe that some of these parties will keep a tight grip on the market until the auction is over. Even the possibility of this will just keep the market obsessed about it until this is over. At least that is my opinion.

Ok thanks. I understand what you are saying and it might be possible. It's just a lot of guessing and if's and maybe's.

[ShroomsKit]

Why Bitcoin’s Scoring in Argentina

Now this is the kind of news I like to read.

Not some hyped up merchant thingy that might or might not affect price in 2 years from now. Not some vague promise by the CEO of payebayamazon to, maybe, at some point, if it ever becomes convenient, think about integrating Bitcoin.

This is what I think should drive Bitcoin adoption in the early phase: providing the means to route around a damaged system. Hope it'll be more than just a passing fad for them.

Yes, this is excellent news!

Indeed. I'm sure someone will turn it in a reason to dump.

[empowering]

THE ANSWER TO ALL OF YOUR QUESTIONS = (including the bitcoin price in 2015)



 

[luke997]

here comes the boom
calm before the storm
hang onto your hats traders

drop in nearly all alts
sharp rise in btc
traders moving from alts to btc in anticipation of a huge rise
care to speculate

So wrong... if folks get out of alts, either nothing happens or BTC drops due to selling pressure. 2 options.
1) Get out of alt and keep BTC - no impact on BTC/USD
2) Get out of alt and sell BTC - increased sell pressure on BTC - likely drop BTC/USD

[Miz4r]

1: What will cause the rally and what will cause the dump?

A rally might happen because the parties who were outbid on the auction may look elsewhere to get their coins and add to the buying pressure, also the media attention could bring in more people. And there may be forces at work the past weeks to keep the price down to get a better price on the auction, and those forces will disappear after the auction which could also spark a rally as selling pressure suddenly vanishes.

A dump might happen if those coins were bought way below market making people nervous about a dump and wondering whether currently Bitcoin is overvalued. This could easily snowball into a sell-off.

But there are many other factors at work at the same time as well, the auction isn't the only thing that determines whether we will see a rally or a dump.

2: Why is this considered so extremely important at the moment?

Bitcoin is a thinly traded market and thus a few million dollars can easily move the price around in whatever direction. The auction attracts parties who have many millions of dollars lying around so it's not hard to believe that some of these parties will keep a tight grip on the market until the auction is over. Even the possibility of this will just keep the market obsessed about it until this is over. At least that is my opinion.

Ok thanks. I understand what you are saying and it might be possible. It's just a lot of guessing and if's and maybe's.

Yeah welcome to the speculation subforum. If you want hard facts you should consider visiting a different forum.

[ChartBuddy]

Explanation