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

[Xer0]

In the meanwhile..

Btcchina at almost $400, compared to Stamp at $365.  And still apparently no one has figured out the arbitrage.

you need a chinese bank account to withdraw your fiat, but you need to visit china to get a bank account

thats the problem 

[1714529924]

1714529924

[Miz4r]

What the hell just happened to bitstamp ??

Someone wanted to make it look like a double top and put a huge sell wall at 360 to try push back the bulls. It doesn't seem very successful though, they're eating right through it now.

[ChartBuddy]

[freethink2013]

What the hell just happened to bitstamp ??

It dropped $10 when it was supposed to be going to the MOTHERFUCKIN MOON.

I'm not sure I want to play here anymore

It's going to be all jitters for the rest of the week. 350 is what stamp is psychologically comfortable with. It'll follow gox on thurs/friday to new highs then the uncertainty will return at the week end. Highs:- Bitstamp: 41x gox:45x

before 'crashing to 350.

[SheHadMANHands]

In the meanwhile..

Btcchina at almost $400, compared to Stamp at $365.  And still apparently no one has figured out the arbitrage.

you need a chinese bank account to withdraw your fiat, but you need to visit china to get a bank account

thats the problem  

I'm not implying most people could do it.  But surely someone could do it, and would be doing it, you'd think.

[Walsoraj]

I've been away from my computer for a couple hours. What is going on? Is it safe to get some sleep tonight?

[jojo69]

Just wanted to drop a quick and big thank you! I just love it around here (lurking...), Bitcoin improves my life just for the euphoria. I'm in that mood since months. Can't believe that I really do live in these exciting times.


Btw: Stamp at 368$

well welcome in!

don't be a stranger

[CoinArtist]

I've been away from my computer for a couple hours. What is going on? Is it safe to get some sleep tonight?

Yea, no worries. It's going to the moon, with or without you.

[SheHadMANHands]

I've been away from my computer for a couple hours. What is going on? Is it safe to get some sleep tonight?

I've slept with a gun under my pillow ever since I first found Bitcoin.

[wobber]

I've been away from my computer for a couple hours. What is going on? Is it safe to get some sleep tonight?

Yea, no worries. It's going to the moon, with or without you.

I'm skeptic about this new trip to the moon. It seems to me that the rocket doesn't want to take off.

[hlynur]

In the meanwhile..

Btcchina at almost $400, compared to Stamp at $365.  And still apparently no one has figured out the arbitrage.

you need a chinese bank account to withdraw your fiat, but you need to visit china to get a bank account

thats the problem  

I'm not implying most people could do it.  But surely someone could do it, and would be doing it, you'd think.

lol

*checking chinese subforum*

    
"Looking for a Chinese partner to arbitrage with" (https://bitcointalk.org/index.php?topic=329534.0)

Remember how BTC-E has always had low prices? There's a reason for that: hard to get money in.

And you know how now BTCCHINA has really high prices? There's a reason for that, too: hard to get money out.

If it was easy to do, people would already be doing it and we wouldn't see as large a gap as we do. China is a Communist country, and they have a strong hold on their currency. Just doing some quick Googling, Chinese residents can only send $50,000 per year overseas.

So, let's say you put up $45,000 to buy 150 coins. Send them to China, sell for $340 each, split the $6,000 profit with your Chinese partner, and have them wire back $48,000 (while also possibly paying taxes and bank fees, etc).

Oh, and don't forget to add in your trip to China  

So you might make $3,000 for the year. You could exceed the limit by having your Chinese contact's friends and relatives send you transfers in their names, but it seems like that would require even more trust.  And if the price of bitcoins goes way up and the price difference stays the same, you'll hit your limit earlier and make less profit.

It's a nice idea in theory, but I don't think it will pan out as well as it looks. Please let us know if you do try it, though!  

[seleme]

Big 400 $ resistance. but big bid sizes too. All kind of things can happen now really. If there's one big ask and get removed it's going up wildly. But then again, there's lot of money below to dump on now.

Shit..

[SheHadMANHands]

In the meanwhile..

Btcchina at almost $400, compared to Stamp at $365.  And still apparently no one has figured out the arbitrage.

you need a chinese bank account to withdraw your fiat, but you need to visit china to get a bank account

thats the problem  

I'm not implying most people could do it.  But surely someone could do it, and would be doing it, you'd think.

lol

*checking chinese subforum*
https://bitcointalk.org/index.php?topic=329534.0

Remember how BTC-E has always had low prices? There's a reason for that: hard to get money in.

And you know how now BTCCHINA has really high prices? There's a reason for that, too: hard to get money out.

If it was easy to do, people would already be doing it and we wouldn't see as large a gap as we do. China is a Communist country, and they have a strong hold on their currency. Just doing some quick Googling, Chinese residents can only send $50,000 per year overseas.

So, let's say you put up $45,000 to buy 150 coins. Send them to China, sell for $340 each, split the $6,000 profit with your Chinese partner, and have them wire back $48,000 (while also possibly paying taxes and bank fees, etc).

Oh, and don't forget to add in your trip to China  

So you might make $3,000 for the year. You could exceed the limit by having your Chinese contact's friends and relatives send you transfers in their names, but it seems like that would require even more trust.  And if the price of bitcoins goes way up and the price difference stays the same, you'll hit your limit earlier and make less profit.

It's a nice idea in theory, but I don't think it will pan out as well as it looks. Please let us know if you do try it, though!  

Sure, but still at some point it must become profitable for someone..  If btcchina was at $1m/bitcoin and Btc-e was at $100/bitcoin, someone wouldn't take advantage?

Cmon homeboy

[Vycid]

*checking chinese subforum*
https://bitcointalk.org/index.php?topic=329534.0

Remember how BTC-E has always had low prices? There's a reason for that: hard to get money in.

And you know how now BTCCHINA has really high prices? There's a reason for that, too: hard to get money out.

If it was easy to do, people would already be doing it and we wouldn't see as large a gap as we do. China is a Communist country, and they have a strong hold on their currency. Just doing some quick Googling, Chinese residents can only send $50,000 per year overseas.

So, let's say you put up $45,000 to buy 150 coins. Send them to China, sell for $340 each, split the $6,000 profit with your Chinese partner, and have them wire back $48,000 (while also possibly paying taxes and bank fees, etc).

Oh, and don't forget to add in your trip to China  

So you might make $3,000 for the year. You could exceed the limit by having your Chinese contact's friends and relatives send you transfers in their names, but it seems like that would require even more trust.  And if the price of bitcoins goes way up and the price difference stays the same, you'll hit your limit earlier and make less profit.

It's a nice idea in theory, but I don't think it will pan out as well as it looks. Please let us know if you do try it, though!  

But I don't understand why CHINESE people don't do this. You don't need an American partner or a trip to America to open a USD-denominated bank account.

Pretty much every Chinese Bitcoiner should be cashing in on their 50k right now...

[seleme]

420 BTC buy on MtGox, haven't seen one like that for a while. Definitely another assault on 400 is coming.

[wobber]

420 BTC buy on MtGox, haven't seen one like that for a while. Definitely another assault on 400 is coming.

On the other hand there are too many asks.

[SheHadMANHands]

420 BTC buy on MtGox, haven't seen one like that for a while. Definitely another assault on 400 is coming.

On the other hand there are too many asks.

Bunch of retarded bears ruinin' the day.

[CoinArtist]

The signs are everywhere, this is happening people!

http://fpd.gsfc.nasa.gov/400logo.jpg

[seleme]

One could really play the market last few days just on trading hours. It's almost a rule that price goes up when China wakes up and dips when they're ready to hit the bed. Same pattern for days.

[SheHadMANHands]

I can't even go to the zoo anymore.  I see the bears and just lose it..

Such blood sucking parasites.