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

[ensurance982]

No way we're going to get through that 422 BTC wall on Stamp. Well, so much for this rallye then...

[JorgeStolfi]

Huobi now 6 $ higher than stamp, if you can trust the yuan/dollar conversion used on bitcoinwisdom.

Bitcoinwisdom says they get the conversion rate from some public source every day.  But arbitragers have their own rate, which presumably depends on withdrawal fees etc.

You'd think 1.3% difference would be enough to entice arbitragers

I don't know.  But if it costs that much more to take money out of Huobi/OKCoin than to take money out of Bitstamp...

Also Bitstamp charges trading fees, say X%, so I would expect it to lag behind the Chinese exchanges.  If these start going up, Bitstamp should follow only after the price in China is X% higher the upper end of Bitstamp's spread (now 581).  When they go down, Bitstamp should stay put until the price in China is X% lower than the lower end of Bitstamp's spread (now 579).  Or something of the sort.  Makes sense?

[Sandia]

We need a higher market cap, and a smoother distribution of coins.  This silly crap with 1 or 2 people controlling the market has to end.  Everyone has already forgotten the guy who walked the market down from 685, 5 dollars at a time, with his sell walls.  Everyone has forgotten that one short knocked us out of the 620 range, eventually to where we are now.

Currently, one entity is holding the price at Huobi and buying up thousands of coins.  Good or bad for the short term price, one person should not be able to control the entire market.  A higher market cap ensures that most large holders sell the majority of their coins, hopefully to smaller buyers.

[Miz4r]

I need to buy me a car and a new PC

price better fucking go up soon

Same here

Instead of betting on ponzi scheme development of Bitcoin you should start some business accepting Bitcoin.

Exactly, posts like that make me want to sell my coins actually and say fuck you to those who think they are entitled to profit from their coins and then buy all kinds of luxury stuff they don't really need with it.

Why do you buy and hold coins may I ask? (not defending the OP who I do not think was serious anyway...but just asking)

Because I believe Bitcoin is the most democratic form of money there is and can give people more control over their financial lives. Our current fiat system is oppressive and eventually self-destructive so by buying and holding coins I support an in my eyes better system and at the same time I feel good keeping a portion of my wealth outside of the current system. If I would buy and hold coins just to make personal fiat profits and then buy expensive stuff with those profits then that would make me just as much a part of the current crazy financial system that's addicted to growth and drives people to consume more and more until they burst. I live a modest and simple life and I don't need much, my health and relationships with people I love are what matter most.

[JorgeStolfi]

Is there a site that computes a single cumulative order book plot by merging the order books of all exchanges (obviously only those that post such data)?  Is there such a tool for other things that are traded in multiple markets (e.g. commodities)?

Obviously some adjustments are necessary to convert prices between different exchanges.  Ideally the conversion should be the one used/implemented by arbitragers.

[ChartBuddy]

Explanation

[Tzupy]

On Bitstamp the bid sum / ask sum ratio stays around 400$, compared with 700$ a month ago.
Just some minor FUD can trigger capitulation. The bulls need a miracle to avoid it.

[N12]

On Bitstamp the bid sum / ask sum ratio stays around 400$, compared with 700$ a month ago.
Just some minor FUD can trigger capitulation. The bulls need a miracle to avoid it.

I noticed as well. Really admirable how the price is still holding in the high 500s in the face of this ask pressure. By the way, the 2% divergence between Western and Chinese exchanges is being resolved by the Western ones following. Seems that China still has more influence than I thought? Is Jorge right after all?

[lemonte]

http://www.cnbc.com/id/101898588

 

[ensurance982]

Currently, one entity is holding the price at Huobi and buying up thousands of coins.  Good or bad for the short term price, one person should not be able to control the entire market.  A higher market cap ensures that most large holders sell the majority of their coins, hopefully to smaller buyers.

If someone is actually doing that, I guess they may not do it just out of kindness. Maybe they are afraid because they have some weir longs on leverage going on and are afraid of the market to burn them down in one big cascade...

[empowering]

http://www.cnbc.com/id/101898588

 

Step by step.

[Schickeria]

On Bitstamp the bid sum / ask sum ratio stays around 400$, compared with 700$ a month ago.
Just some minor FUD can trigger capitulation. The bulls need a miracle to avoid it.

I noticed as well. Really admirable how the price is still holding in the high 500s in the face of this ask pressure. By the way, the 2% divergence between Western and Chinese exchanges is being resolved by the Western ones following. Seems that China still has more influence than I thought? Is Jorge right after all?

I agree, crash into 400's or even lower is probable scenario. On the other side I can't bring myself to short as another probable scenario is, that there are very creative entities, interested in let the market looking weak.

Meanwhile I'm clueless, absolutely without any idea. Time will show...

[dropt]

Currently, one entity is holding the price at Huobi and buying up thousands of coins.  Good or bad for the short term price, one person should not be able to control the entire market.  A higher market cap ensures that most large holders sell the majority of their coins, hopefully to smaller buyers.

If someone is actually doing that, I guess they may not do it just out of kindness. Maybe they are afraid because they have some weir longs on leverage going on and are afraid of the market to burn them down in one big cascade...

Or it's capital flight and the acquisition on huobi is fueling the bulk sell offs on stamp.

[empowering]

I need to buy me a car and a new PC

price better fucking go up soon

Same here

Instead of betting on ponzi scheme development of Bitcoin you should start some business accepting Bitcoin.

Exactly, posts like that make me want to sell my coins actually and say fuck you to those who think they are entitled to profit from their coins and then buy all kinds of luxury stuff they don't really need with it.

Why do you buy and hold coins may I ask? (not defending the OP who I do not think was serious anyway...but just asking)

Because I believe Bitcoin is the most democratic form of money there is and can give people more control over their financial lives. Our current fiat system is oppressive and eventually self-destructive so by buying and holding coins I support an in my eyes better system and at the same time I feel good keeping a portion of my wealth outside of the current system. If I would buy and hold coins just to make personal fiat profits and then buy expensive stuff with those profits then that would make me just as much a part of the current crazy financial system that's addicted to growth and drives people to consume more and more until they burst. I live a modest and simple life and I don't need much, my health and relationships with people I love are what matter most.

Fair play to you.

[kireinaha]

huge buy order on stamp! Is this GABO buying?

[Schickeria]

huge buy order on stamp! Is this GABO buying?

I think it's related to this news:

http://www.c[Suspicious link removed]m/id/101898588

 

Another flash in the pan?

[lemonte]

http://www.cnbc.com/id/101898588

 

Step by step.

Big Step! 

Just need the user adoption to go up at the same rate as merchant adoption is!

[ChartBuddy]

Explanation

[empowering]

http://www.cnbc.com/id/101898588

 

Step by step.

Big Step! 

Just need the user adoption to go up at the same rate as merchant adoption is!

Swings and roundabouts

[JorgeStolfi]

http://www.cnbc.com/id/101898588
 

Wow! So I will be able to use bitcoin to pay my credit card bill?