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

[UnDerDoG81]

Wow 275 and we have a looooong way to go to be back to black. I am still heavily in the red.

[1714672350]

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[resya]

I'm nearly looking at the historical facts. $280 was the highest it reached for the past 24 hours.. the week chart shows very high volume +7k bars around $240. And thinner volume when the price goes up.

[chriswen]

dafuq, two rumors? auction bids at 30% above market, and china legalizes bitcoin?

u mad?

china never really illegalized BTC and as far I know the auction prices are not public

that's why they're rumours.

[KryptoFoo]

dafuq, two rumors? auction bids at 30% above market, and china legalizes bitcoin?

u mad?

china never really illegalized BTC and as far I know the auction prices are not public

not mad. Made good money on that. Was expecting "sell the rumor buy the news" on the closing of the auction then got this sudden "buy the rumor" luck bone thrown at us. Just luck.

Edit: and I dont think the gains will last one folks come to their senses on these unsubstantiated rumors, that is of course unless they are substantiated in which case I will see my short stop loss triggered much higher!

[Ezmoneyezlife]

dafuq, two rumors? auction bids at 30% above market, and china legalizes bitcoin?

Yep, BTC market rulers wanna less shorts before they start a final rape, nothing new.

1) Post a rumor (like OKCoins 20 bln$ hedge fund on november 12th)
2) quick buy 3-5k of BTC to provoke fools
3) look at the fools canceling shorts
4) wait until fools go full retard long on rumors and incoming next auction news
5) create a quick coordinated dump like previous one and retest "bottom" to force a final shake off (on next auction + some rumors, news)
6) make a real reversal once stock markets starting to collapse (1-2 months)

They made same thing on the last auctions spreading rumors. Welcome to non-organic manipulated by its own Bilderberg BTC club "market".

[picolo]

LOL why is the price rising?

More news?

Big amounts of fiat coming to the market and buying on any dip. I think we will hit 300$ within 24H.

[Afrikoin]

http://www.rre.com/blog/90-why-we-started-abra

To design Abra we turned to the traditional Hawala model.  (...)  Traditional Hawala’s are generally illegal in the United States as no one is allowed to hold or remit funds on behalf of someone else without being a licensed money transmitter both with FinCen (the Financial Crimes Enforcement Network) and with the US State regulators where the consumers’ reside.  In the case of Abra, however, consumers and Tellers are always holding their own money just as with the standard open source Bitcoin software.  Abra Tellers simply buy and sell digital currency directly to and from other consumers in their neighborhood in small amounts.

I am not a lawyer, but that explanation of why Abra is not a money transmitter is seems totally bogus.  When you use Western Union, you give your cash to one teller here, and another teller over there gives his cash to the other customer.  No cash is actually moving between the two locations, and there may not even be transfers between bank accounts.  Yet WU is definitely a money transmitter...

I agree in U.S. Law such a service is absolutely a money xmitter business, but what if the tellers are in the receiving country only? Anyone can legally buy bitcoin in the U.S. and send it to anyone they want (except drug dealers, terrorists, etc). Migrant worker remittances usually only flow one way: from the rich country to families in a poorer country.  It would be foolish for those poorer countries' governments to discourage a more efficient remittance option. It just sucks money out of their economy to do so.

In some of these receiving countries you mention, like the Phillipines and East Africa, a robust (and growing) agent network is already in place for mobile banking. Over 150,000 human  agents for example in Kenya. Think of it as rails for a teller network. These agents (in some countries) are free to act as agents for multiple digital currency services - in fact, regulators pushed for non-exclusivity of agents. << This takes out the risk of regulators clamping down on regular folk for acting as tellers.


This is a brilliant hack.

[inca]

dafuq, two rumors? auction bids at 30% above market, and china legalizes bitcoin?

Yep, BTC market rulers wanna less shorts before they start a final rape, nothing new.

1) Post a rumor (like OKCoins 20 bln$ hedge fund on november 12th)
2) quick buy 3-5k of BTC to provoke fools
3) look at the fools canceling shorts
4) wait until fools go full retard long on rumors and incoming next auction news
5) create a quick coordinated dump like previous one and retest "bottom" to force a final shake off (on next auction + some rumors news)
6) make a real reversal once stock markets starting to collapse (1-2 months)

They made same thing on the last auctions spreading rumors. Welcome to non-organic manipulated by its own Bilderberg BTC club "market".

Why do you keep posting this?

Anyway, nice bullish action following the recent intermediate top. Let's see if we can push 300 this time round.

Edit: still just shy of 20k shorts..excellent - the fuel is already there to propel us well into the 3xx's..

[KryptoFoo]

looking for 276 level on finex to cover my short.

[Cconvert2G36]

dafuq, two rumors? auction bids at 30% above market, and china legalizes bitcoin?

Yep, BTC market rulers wanna less shorts before they start a final rape, nothing new.

1) Post a rumor (like OKCoins 20 bln$ hedge fund on november 12th)
2) quick buy 3-5k of BTC to provoke fools
3) look at the fools canceling shorts
4) wait until fools go full retard long on rumors and incoming next auction news
5) create a quick coordinated dump like previous one and retest "bottom" to force a final shake off (on next auction + some rumors news)
6) make a real reversal once stock markets starting to collapse (1-2 months)

They made same thing on the last auctions spreading rumors. Welcome to non-organic manipulated by its own Bilderberg BTC club "market".

Why do you keep posting this?

Anyway, nice bullish action following the recent intermediate top. Let's see if we can push 300 this time round.

Edit: still just shy of 20k shorts..excellent - the fuel is already there to propel us well into the 3xx's..

When you make ezmoney and have an ezlife, why wouldn't you write bearish conspiracy scenarios and wring your hands after a 4% move against you?

[bri912678]

I thought Draper might have something to do with this pump, then I read on bloomberg that he didn't even participate.

Draper said he didn’t participate in the bidding.

http://www.bloomberg.com/news/articles/2015-03-05/secondmarket-among-bidders-in-third-silk-road-bitcoin-auction

It's strange he didn't bid considering he was a bidder in the last two auctions.

the reuters article said he participated in the auction but it was posted 4 hours before.

They amended it to say he didn't participate.

(This story corrects 5th paragraph to show that Draper did not participate in the auction)

Billionaire venture capitalist Tim Draper, winner of the past two auctions, has not submitted a bid. But he noted that the bitcoins on the auction block are "probably ... the best deal anyone will get," said Draper on Thursday in an email to Reuters.

http://www.reuters.com/article/2015/03/05/us-bitcoin-auction-idUSKBN0M11WJ20150305

[kurious]

Rumours are irrelevant (especially the China one) and 30% is only a rumour too - completely unsubstantiated. 

However, pre-auction dumping looks over and the market looked reasonably stable around a 270 resistance, not sub-250 as feared by some.

Another factor is the likelihood that bidders really did pay over market price and this is probably known by enough people, including those who bid too low.

[tarmi]

so Tim didnt dollar average his coins?

it is worse than I thought.

[Afrikoin]

This is China rumor,read my post 5min ago

Read article you referenced a while back and BTC China are blowing hot gas! Article was not specific. Lawyer said no such thing - explicitly

[Ezmoneyezlife]

dafuq, two rumors? auction bids at 30% above market, and china legalizes bitcoin?

Yep, BTC market rulers wanna less shorts before they start a final rape, nothing new.

1) Post a rumor (like OKCoins 20 bln$ hedge fund on november 12th)
2) quick buy 3-5k of BTC to provoke fools
3) look at the fools canceling shorts
4) wait until fools go full retard long on rumors and incoming next auction news
5) create a quick coordinated dump like previous one and retest "bottom" to force a final shake off (on next auction + some rumors news)
6) make a real reversal once stock markets starting to collapse (1-2 months)

They made same thing on the last auctions spreading rumors. Welcome to non-organic manipulated by its own Bilderberg BTC club "market".

Why do you keep posting this?

Anyway, nice bullish action following the recent intermediate top. Let's see if we can push 300 this time round.

Edit: still just shy of 20k shorts..excellent - the fuel is already there to propel us well into the 3xx's..

Because BTC' market now is a scam machine ruled by its own bilderberg "whale" club, all they do is fucking regular people who has been attracted by a great idea of free money for people, but those fuckers dont give a fuck about regular people, their agenda is crystal clear (wallstreet like strategy) - to fuck the market, scare regular btc owners till death and then to take all of those BTC. Once they are done with that scam scheme - they will allow a reversal with new ATH (matter of months). I just warn regular people who have a right to buy btc not by 10x price from those "whales" price. BTC is supposed to serve people, not fucking bankster-like manipulative structures ffs.

http://www.coindesk.com/bitcoin-elite-meet-secret-island-bilderberg-style-retreat/

[zemario]

This thread is still alive! Oh the memories. This is epic. Is this the biggest ever thread on the history of this kind of bulletin board forum websites? Speculate on that.

Love the poll, replied 'IDK'.

[gentlemand]

This thread is still alive! Oh the memories. This is epic. Is this the biggest ever thread on the history of this kind of bulletin board forum websites? Speculate on that.

Love the poll, replied 'IDK'.

There are a few bigger ones out there. I think there's one which is over 100,000 pages. I'll save reading that for when I'm in hell. I wonder how many people on here have perused every page of this thread? A fair few I'll bet.

[solitude]

What's the deal with 95% of signatures being bullshit advertisement spam/scam sites?

Is the .000000001 BTC you receive to whore out your signature space really worth it?

Also, nobody cares you have a bitcoin address, nobody is going to send you any worthwhile amount if you leave it in your signature.

[KryptoFoo]

is this the guy people were quoting on the high auction bids? looks like he's trying to cover his ass making a joke of it now...

https://twitter.com/CryptoKees/status/573577349008064512
https://twitter.com/CryptoKees/status/573608215180623873

yes price can still rise from here, lots of shorts in the market, but I am not buying it.

price needs to come down a bit more I will cover and look to go long again tomorrow.

[macsga]

so Tim didnt dollar average his coins?

it is worse than I thought.

Cheer up buddy... another leg up!
Anyways; I think it's time for me to call it a day. It's gonna be a nice night's sleep. Cya guys and LambChops in the morning - over $300.