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

[thezerg]

Well, I'm 100% in BTC - all 1.38 of them XD

Annoyingly, I bought in at 143, just before the big dump a few days back - after deliberating if I should.... as always.

I think the whales are connected to my brain, to do the opposite of what I need.

Seriously man, go make graphics, wait tables, mow lawns or something and use it to buy coins.  You'll do a lot better than trading 1.38 BTC...

not necessarily, check out a few compound interest calculators, altho you might have to rethink your trading strategy

Let's say you can make $10 an hour which is certainly on the low side for someone tech savvy.  Let's say you put in 2 hrs a night and 8 on the weekend instead of hanging out here and eyeballing bitcoinity.  So that's $100 or .71 BTC a week.  Do you really think you can make a 51% return in BTC (.71/1.38) per week trading?

Sure the equation may change once you have 10 or even 100 BTC... but trading it is very risky whereas earning and buying is not (in terms of amount of BTC amassed).  

If you haven't reached your BTC investment goal, then if there is ANY time in your entire life where it makes sense to work weekends or skip expensive friday night bar hopping then that time is now.

[Crypt_Current]

This is slightly off-topic, but chodpapa and some others were discussing what might be NSA's endgame to the recent Snowden stuff, and this article jumped out at me:

http://www.eweek.com/security/google-encrypts-to-evade-nsa-surveillance-should-you.html?kc=EWKNLCLD09122013STR2&dni=78208782&rni=23600651

[mccorvic]

ooh ... whale showing a fin again 

When did this obsession with the Whale God start? It's like, any time anything happens it's "because whale!" Some of you sound like you'd sacrifice children on an alter of fiat money if someone told you it would make the Whale Gods happy.

We don't need no stinkin' whales.

Well we got em whether you like it or not ...

I'm not denying that there are people who can buy/sell chunks of BTC. I'm not denying that there are people who own 100 bagazillion BTC. Of course there are.

It's the attitude this thread has of this strange cult-like worship and  pretending that the fate of bitcoin relies on the whimsies of such people that bothers me.  

[phoenix1]

ooh ... whale showing a fin again 

When did this obsession with the Whale God start? It's like, any time anything happens it's "because whale!" Some of you sound like you'd sacrifice children on an alter of fiat money if someone told you it would make the Whale Gods happy.

We don't need no stinkin' whales.

Well we got em whether you like it or not ...

I'm not denying that there are people who can buy/sell chunks of BTC. I'm not denying that there are people who own 100 bagazillion BTC. Of course there are.

It's the attitude this thread has of this strange cult-like worship and  pretending that the fate of bitcoin relies on the whimsies of such people that bothers me.  

I don't think anyone believes the fate of BTC depends on them, but short to medium term price movements sure seem to at the moment, hence the pre-occupation. Oh and Gox ... the elephant in the room. We could start a zoo here.
TBH I don't see the 'cult like worship' you talk of. I do pointless see over-analysing of unknowable motives though.

[JimboToronto]

It's the attitude this thread has of this strange cult-like worship and  pretending that the fate of bitcoin relies on the whimsies of such people that bothers me.  

Some people feel the same way about philosophical Bitcoin cultists and technical analysis devotees.  

[JimboToronto]

ooh ... whale showing a fin again 

Hm, bid sum  shows no increase. Moved wall?

This is why I love chartbuddy!¡

+1

[mccorvic]

ooh ... whale showing a fin again 

When did this obsession with the Whale God start? It's like, any time anything happens it's "because whale!" Some of you sound like you'd sacrifice children on an alter of fiat money if someone told you it would make the Whale Gods happy.

We don't need no stinkin' whales.

Well we got em whether you like it or not ...

I'm not denying that there are people who can buy/sell chunks of BTC. I'm not denying that there are people who own 100 bagazillion BTC. Of course there are.

It's the attitude this thread has of this strange cult-like worship and  pretending that the fate of bitcoin relies on the whimsies of such people that bothers me.  

I don't think anyone believes the fate of BTC depends on them, but short to medium term price movements sure seem to at the moment, hence the pre-occupation. Oh and Gox ... the elephant in the room. We could start a zoo here.
TBH I don't see the 'cult like worship' you talk of. I do pointless see over-analysing of unknowable motives though.

It's from being here long enough.  Before May or so of this year a lot of speculation was about getting people into bitcoin, people buying and using bitcoin. I took a break from the forums for the most part for a while after that and come back and every other post is THERE IS WHALE I SAWS HIM HE WILL BRING US GOOD FORTUNE.

It's the attitude this thread has of this strange cult-like worship and  pretending that the fate of bitcoin relies on the whimsies of such people that bothers me.  

Some people feel the same way about philosophical Bitcoin cultists and technical analysis devotees.  

I feel the way about those people too TA is one of the dumbest things I've ever heard of (and I've been to a church sermon too).

[Crypt_Current]

This is slightly off-topic, but chodpapa and some others were discussing what might be NSA's endgame to the recent Snowden stuff, and this article jumped out at me:

http://www.eweek.com/security/google-encrypts-to-evade-nsa-surveillance-should-you.html?kc=EWKNLCLD09122013STR2&dni=78208782&rni=23600651

93's

93, 93/93!  ;-D

[ChartBuddy]

[lucas.sev]

ooh ... whale showing a fin again 

When did this obsession with the Whale God start? It's like, any time anything happens it's "because whale!" Some of you sound like you'd sacrifice children on an alter of fiat money if someone told you it would make the Whale Gods happy.

We don't need no stinkin' whales.

It's because during this rally thats how it works


whale buys -> price oscilates around 2-3 USD from end of whale buy until whale sells or whale buys.

[derpinheimer]

ooh ... whale showing a fin again 

When did this obsession with the Whale God start? It's like, any time anything happens it's "because whale!" Some of you sound like you'd sacrifice children on an alter of fiat money if someone told you it would make the Whale Gods happy.

We don't need no stinkin' whales.

It's because during this rally thats how it works


whale buys -> price oscilates around 2-3 USD from end of whale buy until whale sells or whale buys.

Exactly. Whales decide the price. If it were  down to the average Joe, take a guess where we'd be.

Hint: a lot lot lower

[mccorvic]

ooh ... whale showing a fin again 

When did this obsession with the Whale God start? It's like, any time anything happens it's "because whale!" Some of you sound like you'd sacrifice children on an alter of fiat money if someone told you it would make the Whale Gods happy.

We don't need no stinkin' whales.

It's because during this rally thats how it works


whale buys -> price oscilates around 2-3 USD from end of whale buy until whale sells or whale buys.

Exactly. Whales decide the price. If it were  down to the average Joe, take a guess where we'd be.

Hint: a lot lot lower

I disagree. The price would be much higher if it wasn't for attempts at manipulation by large holders.

[derpinheimer]

 When is the last time we saw a real ask wall? Lol. Big holders can want more. But they can't hold the price down without manipulation (which there currently is none of).

There isn't one whale. If coins were seen as undervalued by a whale, they will buy. Else, wait for better price. And if they dint take the opportunity? Another whale will.

Manipulating the price up is  magnitudes easier than the  opposite.

[Rampion]

ooh ... whale showing a fin again 

When did this obsession with the Whale God start? It's like, any time anything happens it's "because whale!" Some of you sound like you'd sacrifice children on an alter of fiat money if someone told you it would make the Whale Gods happy.

We don't need no stinkin' whales.

Well we got em whether you like it or not ...

I'm not denying that there are people who can buy/sell chunks of BTC. I'm not denying that there are people who own 100 bagazillion BTC. Of course there are.

It's the attitude this thread has of this strange cult-like worship and  pretending that the fate of bitcoin relies on the whimsies of such people that bothers me.  

Is a fact that the lower the volume is (and its been getting lower for months now), the more the market is driven by fewer, relatively bigger trades.

[phoenix1]

Is a fact that the lower the volume is (and its been getting lower for months now), the more the market is driven by fewer, relatively bigger trades.

Not just that, but now we are at the stage when almost nothing goes on in between them.
Big trade, 1 hour of volatility
Wait several hours or days
Rinse, repeat

It is not the sign of a healthy market IMO, but it's what we've got, so I ain't complaining , just saying
When the market is so obviously dominated by the whims of big players, the risk to smaller ones increases to the extent that I am sure many are just not trading

[ChartBuddy]

[mccorvic]

It is not the sign of a healthy market IMO, but it's what we've got, so I ain't complaining , just saying
When the market is so obviously dominated by the whims of big players, the risk to smaller ones increases to the extent that I am sure many are just not trading

We're transitioning into the post-Gox era.  There is some worry and confusion on where one can safely trade and store bitcoin which is reflected in the lower volume.  The risk to smaller traders isn't necessarily a quick price change to their detriment, but rather the risk of not being able to access their coins/fiat at any given moment  Also, the the increase in ways to buy and spend coin that aren't Gox and other trading services is increasing as well which is reflected in the lower volume.

My basis for the above statement is that the reputation and positive press, which always seemed to be one of the best indicator of prices before, still feel pretty positive to me.  There are also some major developments for BTC coming down the pipeline.  These facts don't seem to be represented in the volume on the current main exchanges, thus my hypothesis.

WEEEE!

[MoreFun]

It is not the sign of a healthy market IMO, but it's what we've got, so I ain't complaining , just saying
When the market is so obviously dominated by the whims of big players, the risk to smaller ones increases to the extent that I am sure many are just not trading

We're transitioning into the post-Gox era.  There is some worry and confusion on where one can safely trade and store bitcoin which is reflected in the lower volume.  The risk to smaller traders isn't necessarily a quick price change to their detriment, but rather the risk of not being able to access their coins/fiat at any given moment  Also, the the increase in ways to buy and spend coin that aren't Gox and other trading services is increasing as well which is reflected in the lower volume.

My basis for the above statement is that the reputation and positive press, which always seemed to be one of the best indicator of prices before, still feel pretty positive to me.  There are also some major developments for BTC coming down the pipeline.  These facts don't seem to be represented in the volume on the current main exchanges, thus my hypothesis.

WEEEE!

We are listening that sentence for a long time and I still can not see anything getting traction.

[mccorvic]

It is not the sign of a healthy market IMO, but it's what we've got, so I ain't complaining , just saying
When the market is so obviously dominated by the whims of big players, the risk to smaller ones increases to the extent that I am sure many are just not trading

We're transitioning into the post-Gox era.  There is some worry and confusion on where one can safely trade and store bitcoin which is reflected in the lower volume.  The risk to smaller traders isn't necessarily a quick price change to their detriment, but rather the risk of not being able to access their coins/fiat at any given moment  Also, the the increase in ways to buy and spend coin that aren't Gox and other trading services is increasing as well which is reflected in the lower volume.

My basis for the above statement is that the reputation and positive press, which always seemed to be one of the best indicator of prices before, still feel pretty positive to me.  There are also some major developments for BTC coming down the pipeline.  These facts don't seem to be represented in the volume on the current main exchanges, thus my hypothesis.

WEEEE!

We are listening that sentence for a long time and I still can not see anything getting traction.

Guess it depends on your definition of traction.  Again, when I look at the reputation, positive press, developments in BTC, I see lots of traction.  There's been a LOT of deadends, I know. Trust me, I do know.  And we do have a long ways to go.

From day to day things don't seem like they change.  When I think about to 2012 or 2011 I can say we have come a long way.

[ElectricMucus]

It is not the sign of a healthy market IMO, but it's what we've got, so I ain't complaining , just saying
When the market is so obviously dominated by the whims of big players, the risk to smaller ones increases to the extent that I am sure many are just not trading

We're transitioning into the post-Gox era.  There is some worry and confusion on where one can safely trade and store bitcoin which is reflected in the lower volume.  The risk to smaller traders isn't necessarily a quick price change to their detriment, but rather the risk of not being able to access their coins/fiat at any given moment  Also, the the increase in ways to buy and spend coin that aren't Gox and other trading services is increasing as well which is reflected in the lower volume.

My basis for the above statement is that the reputation and positive press, which always seemed to be one of the best indicator of prices before, still feel pretty positive to me.  There are also some major developments for BTC coming down the pipeline.  These facts don't seem to be represented in the volume on the current main exchanges, thus my hypothesis.

WEEEE!

We are listening that sentence for a long time and I still can not see anything getting traction.

Guess it depends on your definition of traction.  Again, when I look at the reputation, positive press, developments in BTC, I see lots of traction.  There's been a LOT of deadends, I know. Trust me, i do know.  And we do have a long ways to go.

You true believers even see positive press when THEY are really out to get to you.