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

[empowering]

This is Gentle-ben? 

[podyx]

It seems like before the auction we'll see dumping phase, after that rally is coming. Difficulty decreased and miners are selling those Bitcoins so fast, also traders are waiting for the auction day. There is nothing to pump as I see...

Yup, I am going fucking long again tomorrow if we don't see any dumps today (I really don't think we'll see any more dumps though unfortunately..)

WHY DID I CLOSE MY LONG AT $372, I wasn't supposed to close it but I followed cheesnut's advice
fucking dammit man, I keep getting into these shitty spots where I can't do anything..

[Omikifuse]

Bear flag??

Where and why?

OKCoin 3m charts

Probably some arbitrage with huobi.

Now they are at the same level.

[podyx]

Cmon, let's see some dumps

I know you want to get rid of these filthy coins!

[Bagatell]

Have you tried the 1m view podyx?

[dakota neat]

Do you guys really don't know why the price is dropping right before the auction?

[Bagatell]

Do you guys really don't know why the price is dropping right before the auction?

No.

[ChartBuddy]

Explanation

[Omikifuse]

Do you guys really don't know why the price is dropping right before the auction?

Because there are enough people to sell at lower prices than before.

And it is less $10, don't understand why all the drama over it

[Tzupy]

Auctioned bitcoins may sell at a steep discount:
http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/

[podyx]

Auctioned bitcoins may sell at a steep discount:
http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/

Their argument is that it's now $380 instead of $640??

Right, that's just fucking great logic.
If anything that will trigger more players to bid higher then the market price now when they got a chance to get it cheap.
Fucking broken logic, did a woman done came up with this?

About the other 90k coins, we don't know what time these will go off on auction and the price could EASILY be more then $400 at that time

[BlindMayorBitcorn]

Auctioned bitcoins may sell at a steep discount:
http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/

Their argument is that it's now $380 instead of $640??

Right, that's just fucking great logic.
If anything that will trigger more players to bid higher then the market price now when they got a chance to get it cheap.
Fucking broken logic, did a woman done came up with this?

About the other 90k coins, we don't know what time these will go off on auction and the price could EASILY be more then $400 at that time

Teh Bitcoin has been pumping all week in preparation for this auction. The bit powers that be don't want them auction coins going too cheap. This is my theory

[billyjoeallen]

Auctioned bitcoins may sell at a steep discount:
http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/

Their argument is that it's now $380 instead of $640??

Right, that's just fucking great logic.
If anything that will trigger more players to bid higher then the market price now when they got a chance to get it cheap.
Fucking broken logic, did a woman done came up with this?

About the other 90k coins, we don't know what time these will go off on auction and the price could EASILY be more then $400 at that time

Teh Bitcoin has been pumping all week in preparation for this auction. The bit powers that be don't want them auction coins going too cheap. This is my theory

Volume tells the story. Price was drifting higher all week and may continue to do so, but without much enthusiasm. Volume has been tapering off. I'll consider myself lucky to get in a short position near $390 before the buying stops entirely. I'm happy the gov won't get much for their stolen coins.

[BlindMayorBitcorn]

Auctioned bitcoins may sell at a steep discount:
http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/

Their argument is that it's now $380 instead of $640??

Right, that's just fucking great logic.
If anything that will trigger more players to bid higher then the market price now when they got a chance to get it cheap.
Fucking broken logic, did a woman done came up with this?

About the other 90k coins, we don't know what time these will go off on auction and the price could EASILY be more then $400 at that time

Teh Bitcoin has been pumping all week in preparation for this auction. The bit powers that be don't want them auction coins going too cheap. This is my theory

Volume tells the story. Price was drifting higher all week and may continue to do so, but without much enthusiasm. Volume has been tapering off. I'll consider myself lucky to get in a short position near $390 before the buying stops entirely. I'm happy the gov won't get much for their stolen coins.

...and there's the silver lining I guess

[podyx]

Volume tells the story. Price was drifting higher all week and may continue to do so, but without much enthusiasm. Volume has been tapering off. I'll consider myself lucky to get in a short position near $390 before the buying stops entirely. I'm happy the gov won't get much for their stolen coins.

You opened a short at $390?

What the fuck has happend? Why have you gone insane? Was it the fact that you missed that $475 sell or whatever it was?
I swear to god everybody who's losing significant potential winnings are fucking losing it, becoming poison... I pray to god I'll not be one of those.

[ChartBuddy]

Explanation

[jaberwock]

Auctioned bitcoins may sell at a steep discount:
http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/

Means there is a chance of the coins going to be dumped on exchanges at sight?

Or just manipulation to scare people and lower the price?

[NotLambchop]

... I'm happy the gov won't get much for their stolen coins.

Not this time, but the model is scalable & sustainable.

1. You spend coin on CloneRoad.
2. Gubermint "steals" coin.
3. Sells it back 2 U.
4. PROFIT.
5. GOTO 1.

*Good morning, gentlemen.

[lyth0s]

Auctioned bitcoins may sell at a steep discount:
http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/

Means there is a chance of the coins going to be dumped on exchanges at sight?

Or just manipulation to scare people and lower the price?

I have a funny feeling Citi and the other "prospective bidders" are selling the story of bidding on the coins at a great discount in order to get the other bidder to low-ball the bid so they can get their coins at or just under market price.

No bidder would willingly show their hand, seems like a classic poker bluff to me.

[BlindMayorBitcorn]

Auctioned bitcoins may sell at a steep discount:
http://www.coindesk.com/citi-ross-ulbricht-bitcoins-likely-sell-discount-usms-auction/

Means there is a chance of the coins going to be dumped on exchanges at sight?

Or just manipulation to scare people and lower the price?

I have a funny feeling Citi and the other "prospective bidders" are selling the story of bidding on the coins at a great discount in order to get the other bidder to low-ball the bid so they can get their coins at or just under market price.

No bidder would willingly show their hand, seems like a classic poker bluff to me.

Citi is not an auction participant AFAIK