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

[justusranvier]

Guess the bears have ran out of ammo again.  I don't know why they keep trying.

Levered traders who need to pay back their loans?

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[barbs]

Life as a bitcoin whale manipulator with tons of fiat and bitcoins

- place a new giant bidwall lower than previous supporting wall, where you want the price to go
- take a big whale dump on bids and get more fiat while minnows poop lower priced coins into your low wall
- Put a new bid wall at a higher price and watch the minnows panic buy, now you got more fiat, more coins

I get it. Yet I've fallen for it so many times.

[BRADLEYPLOOF]

Life as a bitcoin whale manipulator with tons of fiat and bitcoins

- place a new giant bidwall lower than previous supporting wall, where you want the price to go
- take a big whale dump on bids and get more fiat while minnows poop lower priced coins into your low wall
- Put a new bid wall at a higher price and watch the minnows panic buy, now you got more fiat, more coins

I get it. Yet I've fallen for it so many times.

So is that why they call it a whale?  Like Humpback whales do the same thing with air bubbles...blowing a ring around krill and driving them up to the surface to eat them...

[David M]

My old man (72 years old) just sold 100 BTC at $110.

I convinced him to buy 1000 at $8.  He has now recovered his investment plus ~40%.

I got a case of Veuve Clicquot out of it.

My old man is at it again.  Sold 100BTC at AUD$205

This time I'm getting half of a 5KW Solar Panel setup.

Total Sold: 200BTC for $31,000.  Just short of 300% realized profit on investment.
Remaining Balance: 799.5 BTC

He said he is getting old and plans to sell 100BTC at each "hundred" mark. e.g $300, $400 etc...
He's expecting to have less than 500BTC by June 2014.

The old man has been awed by this latest rally and almost considered waiting for higher prices.

"I feel it will go higher but the plan is in place. Discipline son. Discipline."

He has moved another 100BTC onto an exchange....

[Loaded]

Life as a bitcoin whale manipulator with tons of fiat and bitcoins

- place a new giant bidwall lower than previous supporting wall, where you want the price to go
- take a big whale dump on bids and get more fiat while minnows poop lower priced coins into your low wall
- Put a new bid wall at a higher price and watch the minnows panic buy, now you got more fiat, more coins

I get it. Yet I've fallen for it so many times.

Not as easy as it sounds. Other whales eat you.

[plasticAiredale]

Life as a bitcoin whale manipulator with tons of fiat and bitcoins

- place a new giant bidwall lower than previous supporting wall, where you want the price to go
- take a big whale dump on bids and get more fiat while minnows poop lower priced coins into your low wall
- Put a new bid wall at a higher price and watch the minnows panic buy, now you got more fiat, more coins

I get it. Yet I've fallen for it so many times.

So is that why they call it a whale?  Like Humpback whales do the same thing with air bubbles...blowing a ring around krill and driving them up to the surface to eat them...

Don't think its that nuanced. More like because whales are big, and manipulators are big in the wallet.

[Digigami]

That's just how it goes in a tank full of fish.. Any fish small enough to fit in another's mouth will inevitably wind up as food.

[barbs]

Life as a bitcoin whale manipulator with tons of fiat and bitcoins

- place a new giant bidwall lower than previous supporting wall, where you want the price to go
- take a big whale dump on bids and get more fiat while minnows poop lower priced coins into your low wall
- Put a new bid wall at a higher price and watch the minnows panic buy, now you got more fiat, more coins

I get it. Yet I've fallen for it so many times.

Not as easy as it sounds. Other whales eat you.

forgive me for not shedding a tear for making the minnows panic

[neilol]

Would someone define ATH?

[BRADLEYPLOOF]

Would someone define ATH?

All Time High

[jojo69]

"I feel it will go higher but the plan is in place. Discipline son. Discipline."

respect

[chasetopher]

The technical support meltdown in #mtgox right now is quite a spectacle to behold.

Is this in regards to people not being able to get fiat out? Or is it fiat AND BTC?

yes it is both. gox is fucking lol.



cant get fiat OR BTC


hahahaha

It apparently is related to mining pools dumping there nice new coins directly onto the exchange. So apparently with minted coin, they need 100 confirmations before they can be spent? So he mixes your transfer out with the new mints, and presto...you are stuck waiting 3 days for your coins...

Ah! That's a pretty good technical explanation really. I just tried a BTC withdraw out of curiosity. Lets see how long it takes.

EDIT: Just got the BTC as I clicked posted. Took no more then a minute. Withdrew 10 BTC as a tester (didn't want it to not work and leave a whole chunk in limbo!)

So anyway, seems like FUD to me unless the amount makes any difference (which I doubt).

It's definitely not FUD. I've been waiting for my double-digit BTC withdrawl for almost a day, and a lot of people in the mtgox IRC last night have been waiting a lot longer.

The support said there was a technical issue being resolved, possibly the issue that was just explained about using newly minted coins. Perhaps that bug has been resolved, so new withdrawls work, but they're still processing the backlog of transactions that need to be manually sent?

[gizmoh]

300 is a nice round number for sellers, i think it will yo-yo around that for a while

[BitchicksHusband]

China doesn't seem to know what panic means, all this bear crap is making Bitcoin as tough as nails and multiple big markets are much stronger. This could go a long way.

That's cause pandas aren't really bears.

[jojo69]

China doesn't seem to know what panic means, all this bear crap is making Bitcoin as tough as nails and multiple big markets are much stronger. This could go a long way.

That's cause pandas aren't really bears.

I actually laughed out loud

[spooderman]

China doesn't seem to know what panic means, all this bear crap is making Bitcoin as tough as nails and multiple big markets are much stronger. This could go a long way.

That's cause pandas aren't really bears.

I actually laughed out loud

I believe there's a faster way of expressing that.

[supersonic3974]

China doesn't seem to know what panic means, all this bear crap is making Bitcoin as tough as nails and multiple big markets are much stronger. This could go a long way.

That's cause pandas aren't really bears.

I actually laughed out loud

I believe there's a faster way of expressing that.

IALOL?

[octaft]

market buy to 310 on gox?

what was that vol?

680ish, plus about 140 in smaller bursts a minute or two later.

[ChartBuddy]

[adamstgBit]

good show!

how high will it go?