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

[xxjs]

Who is that Bernanke guy?

Treasury notes down, silver up.

And bitcoin?

Bernanke is in panic do nothing mode.

[derpinheimer]

We appear to be breaking up out of the triangle that has been forming over the last week. We shall see if it actually happens.

without whale activity either... could get very interesting if a whale or 2 fears missing the boat.

I wonder if the volume this past week reflects actual economic activity, rather then trading/speculation.  The market is neither too high or two low to encourage trading... and Gox problems discourage arb.  No big whale positions being taken.  What's left except actual economic activity?

People calling it the top and others deciding its time to go up?

[molecular]

If the price will fall and close on a 4 hours chart under the lower line of the triangle we can expect for the drop to continue to 130.00, where it will find the trend line, or even lower to 120.00 where it will find the 7th September low (the full target for the downside sits around 110.45$/Bitcoin).

On the other hand a breach above the upper line of the pattern could mean that speculators are willing to buy this digital currency, so the price might break above the 148.64 resistance and rally to 162.20, where it will find the trend line.

Sometimes simple analysis is best .

I'm still tending to call triangle to break upwards (although one could argue it already broke to the downside). Triangle is slightly ascending and previous trend was "up".

[Walsoraj]

Dat 1btc bot...

[ElectricMucus]

Not
so
much
...

[adamstgBit]

its gonna be worth thousands!

[ElectricMucus]

[hlynur]

http://www.coindesk.com/online-game-developer-bigpoint-now-accepts-bitcoins-virtual-goods/
Online game developer Bigpoint’s 330m users can now buy virtual goods with bitcoins

nice...some more companies of that caliber jumping on the train in the future and Valve will realize that they get a young and spend-happy target audience handed on the silver platter when adopting bitcoin.

[TERA]

Gox proclaimed dead. Funeral to be arranged shortly:

[solex]

Gox proclaimed dead. Funeral to be arranged shortly:

Invitations going out soon...

[mechs]

Gox proclaimed dead. Funeral to be arranged shortly:

Invitations going out soon...

I think Gox will survive this - but they have definitely lost their front-runner status which is not necessarily a bad thing.

[derpinheimer]

Gox proclaimed dead. Funeral to be arranged shortly:

Invitations going out soon...

I think Gox will survive this - but they have definitely lost their front-runner status which is not necessarily a bad thing.

Its undeniably awful for them!

They should be ashamed. Such an easy position to hold but incredible levels of incompetence destroyed them.

[Walsoraj]

Gox will not lose front runner status until they resume withdrawals. And that will cause mega crash to single digits and eventually annihilation of bitcoin. So, there will be no front-runner.

 

[solex]

I think Gox will survive this - but they have definitely lost their front-runner status which is not necessarily a bad thing.

Its undeniably awful for them!

They should be ashamed. Such an easy position to hold but incredible levels of incompetence destroyed them.

Late last year when I first learned about MtGox I quickly assumed that they would be the next Google or Facebook, a mega-company to ride the Bitcoin revolution. They are sure crashing and burning instead. Very sad, but largely due to their own incompetence (failed merger, regulatory failures).

[ElectricMucus]

Not
so
much
...

EM, what do you honestly expect to happen with bitcoin in the next 3-5 years?

Mtgox and/or Bitpay might be gone, SR still kickin but lots of competition from alts and technical problems.
I expect the Bitcoin community to be composed of Internet Libertarians for the entirety of the Project. It will be all about "spreading the word" still.

[prophetx]

Not
so
much
...

EM, what do you honestly expect to happen with bitcoin in the next 3-5 years?

Mtgox and/or Bitpay might be gone, SR still kickin but lots of competition from alts and technical problems.
I expect the Bitcoin community to be composed of Internet Libertarians for the entirety of the Project. It will be all about "spreading the word" still.

sr is here to stay unless dpr gets nabbed, but another would pop up in 48 hours

mtgox is already a zombie exchange

bitpay will either remain or get bought out by bigger players

[spooderman]

Not
so
much
...

EM, what do you honestly expect to happen with bitcoin in the next 3-5 years?

Mtgox and/or Bitpay might be gone, SR still kickin but lots of competition from alts and technical problems.
I expect the Bitcoin community to be composed of Internet Libertarians for the entirety of the Project. It will be all about "spreading the word" still.

sr is here to stay unless dpr gets nabbed, but another would pop up in 48 hours

mtgox is already a zombie exchange

bitpay will either remain or get bought out by bigger players

Just as my yubikey arrives

[CMMPro]

I think Gox will survive this - but they have definitely lost their front-runner status which is not necessarily a bad thing.

Its undeniably awful for them!

They should be ashamed. Such an easy position to hold but incredible levels of incompetence destroyed them.

Late last year when I first learned about MtGox I quickly assumed that they would be the next Google or Facebook, a mega-company to ride the Bitcoin revolution. They are sure crashing and burning instead. Very sad, but largely due to their own incompetence (failed merger, regulatory failures).

It's interesting that a lot of these sort of tech front runners fall on their face as the market develops.
I think they get complacent and stop innovating...next thing you know the next in line challenges the throne and takes over.

Myspace -> facebook
yahoo -> google
Commodore -> Apple
Atari -> Nintendo/Sony/Microsoft

Ok many of these are debatable....that's not my point.

We shouldn't be happy that Mt Gox is "dead"....having more than one exchange is a good thing.
We need options.

What we need is for a half dozen exchanges to pop up, driven firstly by customer demand and I think that a shared p2p online order book protocol is the way to go.


 



 

[ElectricMucus]

Not
so
much
...

EM, what do you honestly expect to happen with bitcoin in the next 3-5 years?

Mtgox and/or Bitpay might be gone, SR still kickin but lots of competition from alts and technical problems.
I expect the Bitcoin community to be composed of Internet Libertarians for the entirety of the Project. It will be all about "spreading the word" still.

sr is here to stay unless dpr gets nabbed, but another would pop up in 48 hours

mtgox is already a zombie exchange

bitpay will either remain or get bought out by bigger players

SR has one problem right now: It's not really possible to order anonymously when all exchanges require verification, tricks like mixing and choosing the transaction output address don't really help. (Courts can get a warrant for transaction data off the exchanges)
The only real solution is zerocoin which, quite frankly would be better off being implemented in an altcoin.
I don't expect SR to go under because of this, the money flow just has to come from OTC and similar mechanisms.

Yeah, gox is pretty much undead. This could go on for a long time still...

I don't think that bitpay will stand up to scrutiny. They have been messing around on the exchanges (according to their own admission) with their clients and VC money. When the shit hits the fan on Gox there will be a lot of long faces there once they realize how much of their money was in gox accounts.

[mechs]

Not
so
much
...

EM, what do you honestly expect to happen with bitcoin in the next 3-5 years?

Mtgox and/or Bitpay might be gone, SR still kickin but lots of competition from alts and technical problems.
I expect the Bitcoin community to be composed of Internet Libertarians for the entirety of the Project. It will be all about "spreading the word" still.

sr is here to stay unless dpr gets nabbed, but another would pop up in 48 hours

mtgox is already a zombie exchange

bitpay will either remain or get bought out by bigger players

SR has one problem right now: It's not really possible to order anonymously when all exchanges require verification, tricks like mixing and choosing the transaction output address don't really help. (Courts can get a warrant for transaction data off the exchanges)
The only real solution is zerocoin which, quite frankly would be better off being implemented in an altcoin.
I don't expect SR to go under because of this, the money flow just has to come from OTC and similar mechanisms.

Yeah, gox is pretty much undead. This could go on for a long time still...

I don't think that bitpay will stand up to scrutiny. They have been messing around on the exchanges (according to their own admission) with their clients and VC money. When the shit hits the fan on Gox there will be a lot of long faces there once they realize how much of their money was in gox accounts.

people need to bite the bullet, trade their mt gox usd for BTC even if it a 15% premium. And just cash out elsewhere.