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

[molecular]

probably this thread could merge into an overall orderbook and wall tracker

bitstamp has more volume now and there is one 3000 btc bid wall left. if this falls.. good night bitcoin for a deeper fall

looks more like 2000 to me.

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[N12]

probably this thread could merge into an overall orderbook and wall tracker

bitstamp has more volume now and there is one 3000 btc bid wall left. if this falls.. good night bitcoin for a deeper fall

looks more like 2000 to me.

Good night, Bitcoin.

Good morning, Blightcoin.

[oda.krell]

How are your Litecoins going btw?

Actually, MtGox has more volume again now on the 24h. Same game as always, MtGox takes the lead when overall volumes surge.

Hardly. 2 months ago, mtgox taking the lead during surges meant twice or more the volume of the next biggest exchange. These days it means about 50% more.

It's too early to declare the mtgox era entirely over. But it's getting closer.

[S3052]

probably this thread could merge into an overall orderbook and wall tracker

bitstamp has more volume now and there is one 3000 btc bid wall left. if this falls.. good night bitcoin for a deeper fall

looks more like 2000 to me.

Good night, Bitcoin.

Good morning, Blightcoin.

1000 btc was probably already whale food (plankton) .. eaten away...

[N12]

You're right, there is definitely a slow shift going on away from MtGox. Dwindling volume and therefore income is the only language they will ever understand. However, I've seen MtGox die countless deaths before since June 2011. I remember Tradehill being hailed as the MtGox killer. My guess is they will either die or they will come out as #1 again.

The tell will actually be depth. As long as there is plenty of dry powder on Gox it can move the market.

Indeed, much of the Bitcoiners' capital is simply trapped on this platform and moving it from it is extremely slow. Shifting this capital from one account to another by buying Bitcoins and withdrawing them doesn't alleviate it.

[oda.krell]

I must be the only person on earth right now who contemplates beginning to trade on/sending fiat to mtgox

[SheHadMANHands]

I suspect we'll not pass $150, pending very big news, until Mt Gox resolves withdrawals or they fall.  Too much anxiety in the market.

[N12]

I must be the only person on earth right now who contemplates beginning to trade on/sending fiat to mtgox

Why'd you do that? The only reason I see is if you need to have instant liquidity for a couple k minimum in order to minimize slippage. Another perhaps if you trust MtGox more and want to store the funds for a longer time there. With up to 10% higher prices on MtGox, I'd have a hard time justifying it as a new market entrant.

MtGox certainly deserves to starve right now given their laughable transparency.

[oda.krell]

I must be the only person on earth right now who contemplates beginning to trade on/sending fiat to mtgox

Why'd you do that? The only reason I see is if you need to have instant liquidity for a couple k minimum in order to minimize slippage. Another perhaps if you trust MtGox more and want to store the funds for a longer time there. With up to 10% higher prices on MtGox, I'd have a hard time justifying it as a new market entrant.

MtGox certainly deserves to starve right now given their laughable transparency.

I'm not looking to long-term hold, so the premium isn't really an issue. It's the godawful slippage on bitstamp for anything bigger than tiny amounts.

The only thing that prevents me from signing up is, well, that it'd be idiotic to do so, I guess.

[SheHadMANHands]

I must be the only person on earth right now who contemplates beginning to trade on/sending fiat to mtgox

Why'd you do that? The only reason I see is if you need to have instant liquidity for a couple k minimum in order to minimize slippage. Another perhaps if you trust MtGox more and want to store the funds for a longer time there. With up to 10% higher prices on MtGox, I'd have a hard time justifying it as a new market entrant.

MtGox certainly deserves to starve right now given their laughable transparency.

Unfortunately, the amount of gravity a body has need not have any relation to how brightly it shines.

That's beautiful...

[ElectricMucus]

I must be the only person on earth right now who contemplates beginning to trade on/sending fiat to mtgox

Why'd you do that? The only reason I see is if you need to have instant liquidity for a couple k minimum in order to minimize slippage. Another perhaps if you trust MtGox more and want to store the funds for a longer time there. With up to 10% higher prices on MtGox, I'd have a hard time justifying it as a new market entrant.

MtGox certainly deserves to starve right now given their laughable transparency.

Unfortunately, the amount of gravity a body has need not have any relation to how brightly it shines.

I see what you did there.

[N12]

If you are fine to withdraw via other measures (SEPA, JPY domestic, BTC), MtGox should be alright given you don't mind the premium. Only risk I would see is whether or not they are even liquid in light of the 10 million USD lacking.

[prophetx]

I must be the only person on earth right now who contemplates beginning to trade on/sending fiat to mtgox

Why'd you do that? The only reason I see is if you need to have instant liquidity for a couple k minimum in order to minimize slippage. Another perhaps if you trust MtGox more and want to store the funds for a longer time there. With up to 10% higher prices on MtGox, I'd have a hard time justifying it as a new market entrant.

MtGox certainly deserves to starve right now given their laughable transparency.

Unfortunately, the amount of gravity a body has need not have any relation to how brightly it shines.

I see what you did there.

as the old saying goes...

feed the eagle, starve the turkey

[dserrano5]

If you are fine to withdraw via other measures (SEPA, JPY domestic, BTC), MtGox should be alright given you don't mind the premium. Only risk I would see is whether or not they are even liquid in light of the 10 million USD lacking.

There are still reports of 3+ week delay times for SEPA transfers initiated in late august, so that's a risky game to play.

[vps15]

so who thinks we are heading for a correction or another bear trap now?

[Adrian-x]

so who thinks we are heading for a correction or another bear trap now?

I think chodpaba is manipulating the market to fit his analysis 
 
So lets go with bear trap for now.

[grovestr]

so who thinks we are heading for a correction or another bear trap now?

1. whale sales, then
2. nothing happen, then
3. whale sales, then
4. OMG we goin down, then
5. SELL SELL SELL, then
6. whale buys, then
7. exit mtgox, then
8. sell on bitstamp, then
9. SELL SELL SELL

or just we going straight into single digits

[phoenix1]

If you are fine to withdraw via other measures (SEPA, JPY domestic, BTC), MtGox should be alright given you don't mind the premium. Only risk I would see is whether or not they are even liquid in light of the 10 million USD lacking.

Completely separate from customer funds, if Gox collected .5% in BTC fees and .5% in USD fees, and held them as such they would have

257143 BTC and $7,627,194

The question of the actual balances is how much trading they have done, and when?

What would we find in Schrödinger's Gox?

A dead cat that was not there

[rampantparanoia]

What would we find in Schrödinger's Gox?

A dead cat that was not there

...then how do you know it was dead?!

[adamas]

so who thinks we are heading for a correction or another bear trap now?

... just a tiny bear trap