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

[Chef Ramsay]

400 k of new longs opened! Seems promising and bullish.  

I'm buying.

Count me MF in, i´m buyin all i can, just like every other day! Everytime longs increase it is bullish , same thing when shorts increase=bullish. When longs or shorts go down it is also bullish.
I learned that in the trading school of inca. What could go wrong?

Yep, UT is another crockpuppet of the bearcrapper we all know as trollcrotch who has veered off the path of righteousness once again. I sincerely hope you go to confession and get help among the sacraments in a proper setting.

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[Chef Ramsay]

How did GBTC react to the dump? Could they be added to chartbuddy? We need to know the REAL price for BTC. Why can´t i find their REAL price on any other exchange? Could somebody please explain again? I don´t understand!  

GBTC data from OTCQX page at end of each day:

Date             day's price range      day's volume
---------------+----------------------+-------------
2015-05-04        37.98 --   42.00               765
2015-05-05        55.00 --   94.86               435
2015-05-06         N/A  --    N/A                125

According to a post on the SecondMarket Observer thread, when OTCQX updates the GBTC quote page, it ignores any trades smaller than 100 shares (10 BTC).  That is why the daily price range for today is shown as "N/A--N/A" ("not available") even though 125 shares were traded today.  Also, OTCQX has the same working hours as NYSE.

I don't think one can get better data from other sources; they can only get it from OTCQX.  Paying clients of OTCQX apparently have access to the trade log; perhaps someone can find some such client who would leak some hints...

EDIT: by the way, OTCQX is not like an ordinary stock or bitcoin exchange.  They seem to be more like a central database that collects and merges information from registered brokers; it is the brokers who keep the client's shares and execute the trades.  Right?

The bloomberg feed seems to display the complete dataset. I don't have access to this, but saw a screenshot in this thread a few days back which showed the various, small Asks I had set which were not visible elsewhere.

I sold 60 shares today at $65. Depending on which view you look at, that is either displayed or not.

That said, in 3 days we have _not_ exploded upwards. It would take a single 1000 share seller to put the 50000 share Maxim order at $35 to the top of the list.

I played it safe, took the 50% gain with most of my remaining stake, and called it a day.

Continuing to watch with interest.

I can tell you're walking on sunshine by dealing some of your shares for top shelf prices and I commend you for that. Things are just getting started on GBTC and so much more is likely to happen going forward to run the price up. Barry made his promise and I'd say we're in the building phase of that happening.

[ChartBuddy]

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[Chef Ramsay]

I hope the rest of you steer clear of the fud slinging frauds here and hope you're able to get a good position outside of the crappola here.

[ChartBuddy]

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[luckygenough56]

dev ran away

just shorted to buy back at 140

[BitThink]

Miners and full nodes owners decide whether to go 20M or not. Devs (mostly only bug fixing) has no more power than normal users.

[Searing]

Miners and full nodes owners decide whether to go 20M or not. Devs (mostly only bug fixing) has no more power than normal users.

so basically when/if the 20m block is the norm...the fix is simply software ie stuff like bfgminer etc and thus you move on thru this hard fork?

so that is how consensus is reached...ie the software is mod'ed as such and if enough people follow the bread crumbs to this new fork at 20m blocks?

(if i have this completely wrong i will move on and research it further on my own ...thus keeping my ignorance to myself)

thanks

[hdbuck]

Miners and full nodes owners decide whether to go 20M or not. Devs (mostly only bug fixing) has no more power than normal users.

so basically when/if the 20m block is the norm...the fix is simply software ie stuff like bfgminer etc and thus you move on thru this hard fork?

so that is how consensus is reached...ie the software is mod'ed as such and if enough people follow the bread crumbs to this new fork at 20m blocks?

(if i have this completely wrong i will move on and research it further on my own ...thus keeping my ignorance to myself)

thanks

people will follow the money.

gavin fork is highly debatable and i believe its implementation will be far more difficult than he pretends.


@stolfi: this is nice for once https://www.reddit.com/r/Bitcoin/comments/354qbm/bitcoin_devs_do_not_have_consensus_on_blocksize/

[ChartBuddy]

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[_biO_]

Miners and full nodes owners decide whether to go 20M or not. Devs (mostly only bug fixing) has no more power than normal users.

Of course they have "more power" in the sense that they have a bigger influence on public opinion.

[rebuilder]

In a fork, the chain with the most miner support (hashpower) is the most secure. Users can decide not to follow miners but risk getting stuck on an insecure blockchain, which miners backing the other chain could sabotage given their hashpower advantage.

In the event of a fork where users and miners disagree on which chain to support, which chain is Bitcoin?

[hdbuck]

In a fork, the chain with the most miner support (hashpower) is the most secure. Users can decide not to follow miners but risk getting stuck on an insecure blockchain, which miners backing the other chain could sabotage given their hashpower advantage.

In the event of a fork where users and miners disagree on which chain to support, which chain is Bitcoin?

i'd be tempted to say Bitcoin would be the Blockchain with most miners support.

otoh, Bitcoin would also be the one more close to its beginning, as in a hardfork is not Bitcoin but rather, well, just a fork.

[ChartBuddy]

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[Fatman3001]

Prob a repost, but a good read

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

[hdbuck]

Prob a repost, but a good read

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

no mention of Mr Popescu?! bogusss.

[Elwar]

Prob a repost, but a good read

http://www.nytimes.com/2015/05/03/magazine/how-bitcoin-is-disrupting-argentinas-economy.html?_r=0

There are some interesting tidbits in that article. One interesting part I noticed was this:

"But Casares noticed that every time he helped another one of his wealthy friends start buying Bitcoins, prices rose, suggesting to him that they were responsible for much of the increase. Over the course of March, the price of a single Bitcoin nearly tripled, to around $100"

All of the charts and trend analysis cannot predict some guy encouraging his wealthy friends to buy a lot of bitcoins. It also cannot account for someone who has a lot of bitcoins that needs to sell them all to pay for a house or yacht.
We seem to still be in the place where the price jumps by a lot all at once, which is likely these types of scenarios. But over time with more money on the exchanges hundreds of thousands of dollars will not be moving the price as much as it does right now.

[atlosas]

Huge volume on bitfinex at the last "dump" but not much price action. I would say it is kinda bullish.

[Fatman3001]

Huge volume on bitfinex at the last "dump" but not much price action. I would say it is kinda bullish.

I think we need an answer to what happened first, at finex yesterday.

[ChartBuddy]

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