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

[David Rabahy]

I'm a long bull (believe it could be an outstanding store of value even if it isn't the one and only currency for transactions) but still well-diversified.  If it goes to zero then so be it (unlikely).  Helping it grow by word of mouth, etc., is my tactic.  I'd love to get a breakthrough on the custodian front but no joy there yet.

[Voodah]

As a long bull I am feeling very bearish. These Mt Gox issues are bad in my mind. People are happy Gox is losing market share but for me it's more like the lynchpin of the bitcoin ecosystem is failing due to political forces. If the bitcoin processors are dependent on gox then we are close to the point where retailers give up.

Yes. This is the sad truth behind it all. I can feel the political pressure building up.

[CurbsideProphet]

ShroomsKit... Tell us the truth... Did you sell yet?

And Nagle... Did you buy, Nagle?

Is Nagle back?

[gandhibt]

I sold all my trading coins (100 BTC) @ average 101.97 USD/BTC. I think I'll buy back @ 80-85 USD/BTC.

[Abandon]

As a long bull I am feeling very bearish. These Mt Gox issues are bad in my mind. People are happy Gox is losing market share but for me it's more like the lynchpin of the bitcoin ecosystem is failing due to political forces. If the bitcoin processors are dependent on gox then we are close to the point where retailers give up.

Yes. This is the sad truth behind it all. I can feel the political pressure building up.

Many of the bitcoin processors are not dependent on Mt. Gox. They're usually dependent on processors like Coinbase, Bitpay, etc. . None of which depend on Mt. Gox to set the price.

Everything will turn out okay. There's a lot of brain dead FUD that the majority of people are falling for, that's why we're having this brain dead market that should be rising with force, but instead the market is struggling to fight against this insanity. The market doesn't want to go down, it's already oversold, but it might, because of the people who believe it will.

[nmersulypnem]

I sold all my trading coins (100 BTC) @ average 101.97 USD/BTC. I think I'll buy back @ 80-85 USD/BTC.

Oh, I didn't realize we get to pick the price we buy back at...  Excellent.  I'll be buying back in at $2.

[solex]

As a long bull I am feeling very bearish. These Mt Gox issues are bad in my mind. People are happy Gox is losing market share but for me it's more like the lynchpin of the bitcoin ecosystem is failing due to political forces. If the bitcoin processors are dependent on gox then we are close to the point where retailers give up.

Yes. A healthy MtGox is good for Bitcoin. Bitpay and others need a proper fx market with depth to maintain their business. The other exchanges are too illiquid. I think that people who want mtgox to fail are mostly those hoping to buy BTC at 2012 values because they missed the ramp up this year.

[Its About Sharing]

Looks like things just turned. I say 4 days of red candles ahead.

price drops a few $, prophets immediately predict long term drops
price rises a few $, prophets immediately predict long term raises

bitcoin never changes

You were saying?

[Frozenlock]

(...) that's why we're having this brain dead market that should be rising, but instead it is fighting against this insanity. The market doesn't want to go down, but it might, because of the people who believe it will.

 

[nmersulypnem]

As a long bull I am feeling very bearish. These Mt Gox issues are bad in my mind. People are happy Gox is losing market share but for me it's more like the lynchpin of the bitcoin ecosystem is failing due to political forces. If the bitcoin processors are dependent on gox then we are close to the point where retailers give up.

Yes. A healthy MtGox is good for Bitcoin. Bitpay and others need a proper fx market with depth to maintain their business. The other exchanges are too illiquid. I think that people who want mtgox to fail are mostly those hoping to buy BTC at 2012 values because they missed the ramp up this year.

They are not liquid because most people are still using MtGox.   If MtGox were to die, the other exchanges would immediately have tons of liquidity.

[notme]

(...) that's why we're having this brain dead market that should be rising, but instead it is fighting against this insanity. The market doesn't want to go down, but it might, because of the people who believe it will.

 

LOL.... somehow the market has a different opinion than the market.

[Frozenlock]

LOL.... somehow the market has a different opinion than the market.

Gentlemen, I think we witnessing the first double personality market! 

[solex]

As a long bull I am feeling very bearish. These Mt Gox issues are bad in my mind. People are happy Gox is losing market share but for me it's more like the lynchpin of the bitcoin ecosystem is failing due to political forces. If the bitcoin processors are dependent on gox then we are close to the point where retailers give up.

Yes. A healthy MtGox is good for Bitcoin. Bitpay and others need a proper fx market with depth to maintain their business. The other exchanges are too illiquid. I think that people who want mtgox to fail are mostly those hoping to buy BTC at 2012 values because they missed the ramp up this year.

They are not liquid because most people are still using MtGox.   If MtGox were to die, the other exchanges would immediately have tons of liquidity.

And then they would have the performance problems which mtgox has had. Everyone would be screaming at them for having rubbish systems.

[molecular]

I sold all my trading coins (100 BTC) @ average 101.97 USD/BTC. I think I'll buy back @ 80-85 USD/BTC.

Oh, I didn't realize we get to pick the price we buy back at...  Excellent.  I'll be buying back in at $2.

you get to pick price or time, but not both.

[cmp]

Here a toy for wall-movement trackers http://trading.i286.org/

[Abandon]

As a long bull I am feeling very bearish. These Mt Gox issues are bad in my mind. People are happy Gox is losing market share but for me it's more like the lynchpin of the bitcoin ecosystem is failing due to political forces. If the bitcoin processors are dependent on gox then we are close to the point where retailers give up.

Yes. A healthy MtGox is good for Bitcoin. Bitpay and others need a proper fx market with depth to maintain their business. The other exchanges are too illiquid. I think that people who want mtgox to fail are mostly those hoping to buy BTC at 2012 values because they missed the ramp up this year.

I think that most of the people who want Mt. Gox to die, know that things have to be purged in order to improve. Right now we pretty much only have a one headed Hydra, but if Mt. Gox were to go down in flames, or lose its market share, it would only diversify the commerce, instead of depending on a single weakest link. As we are, we depend largely on a single headed Hyrdra, that isn't always constant, but if we had others to diversify in, we'd have much less collective risk.

I think that the people who want Mt. Gox out of the big picture are the same people who want a decentralized currency.

[ChartBuddy]

[Abandon]

(...) that's why we're having this brain dead market that should be rising, but instead it is fighting against this insanity. The market doesn't want to go down, but it might, because of the people who believe it will.

 

LOL.... somehow the market has a different opinion than the market.

What I mean is, the market is oversold. There's only a limited amount that can be sold, unless there is extreme pessimistic pressure. Eventually enough of it will go into long term hoarding/investing that the market will have no choice but to rise. Usually this is kind of market is marked by slow gradual falls that is very lethargic.

[Frozenlock]

What I mean is, the market is oversold. There's only a limited amount that can be sold without rising. Eventually enough of it will go into long term hoarding/investing that the market will have no choice but to rise.

Uh?
What about "There's only a limited amount that can bought without falling"?

There is no shortage of coins.
When the price is going up, the supply seems to go dry...
But when the price is going down, a seemingly endless stream of coins can hit the exchanges.

[spooderman]

ShroomsKit... Tell us the truth... Did you sell yet?

And Nagle... Did you buy, Nagle?

I don't sell. Ever.

What's your entry (average price)? Have you taken out your original investment yet?

If it drops more, can you afford to buy more?

Just curious.

I bought before the bubble and i bought a couple of times when it crashed. So very low. It has to drop a lot before i start losing money.

With your constant complaining about the price going down a dollar and what seems to be little understanding of how the market works, its hard to believe that.

"Wahhh, someone took a profit, now I'm losing munny They're a big dumb doo-doo head too!"

Sorry, but you're really annoying when you pull that crap almost daily.

Yeah, i'm really just lying. Better put me on ignore.

I am in the same position, but it still hurts me when it drops.