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

[elux]

First China, now this: http://blog.coinbase.com/post/49782323057/coinbase-now-processing-15m-per-month-in-bitcoin-buys

Bullish?

No. Very bearish. We crash now.

[/sargasm]

[1695938989]

1695938989

[1695938989]

1695938989

[Rampion]

This is the first time I've ever been a real bear before. I just sold all my remaining Bitcoins. Still predicting a drop for tommorow.


Being a bear is actually quite crappy, being bullish is much more fun.

being a bear rocks. You just get cheaper coins on every dip. Just don't sell any coins, buy them.

Errrr... Maybe I got wrong the bear definition and in fact I'm a bull?  

[rpietila]

Man, wake up. Wallzilla intention was to SELL, not to BUY. You don't place a $2M bid just $5 below spot in the real world, if your real intention is to buy. And you don't keep pushing it up, because a 10% of $2M is A LOT of money, for you, me and all the rich guys around. With that kind of wall you are only pushing the price up, everybody knows that - and no, the theory of the clueless guy who just received his lottery winnings on Gox (on a Sunday ) is just utter BS.

That's how the market works: you want to sell a big chunk and your loaded with fiat, you place a huge wall trying to push the price up and to create depth around your wall. You want to buy low and you have a lot of coins, you put a huge ASK wall to push the price down.

If you really want to buy $2M coins, you just place smaller bids all over a certain price range. Putting 10% of the total amount of fiat sitting on Gox in a single spot means only one thing: your real intention is to sell.

+1

In theory, yes. But is there a seller willing to sell at these low levels, who already has sold to cash out $2M (which is 20k coins)? In my calculation, there are only about 40 people in the category.

It is possible that he is a buyer after all, no matter how unreasonable it is.

(When I was a newb about 6 weeks ago, I showed $130k wall in Bitstamp just for the lulz, and ended up buying at an average 6% higher than the point of showing the wall, I also drove the price from 2% discount to Mt.Gox to 2% premium. Now I am smarter and know how to play. Still I might do things just for the lulz, like the mindless crash of 14. Feb makers who wanted a red Valentine candle).

[fitty]

This is the first time I've ever been a real bear before. I just sold all my remaining Bitcoins. Still predicting a drop for tommorow.


Being a bear is actually quite crappy, being bullish is much more fun.

China hype, Fiat Super Tuesday, why sell now?

We all know if we start the smallest of rallies you'll have 500 guys screaming "load the rocket fuel, to the moon! bull nation holla! get out of the way bears!".

Shit that happens without any news. People are so eager to jump on a rally it won't take much, whether the China news matters, whether Gox even processes the wires tomorrow, who really knows. But if someone with 200-300k starts buying Bitcoins you'll have the forum screaming rally fever. I don't see a big down swing, if you're paying attention and you want to sell, you see what happens and let them have their rally then coin dump. So even sellers are probably going to wait and see what happens.

Someone should just make a new forum name called "Xien Ping Chow" and say how you saw the report and you're now planning to accept Bitcoins at your restaurant in Beijing. People will go ape shit and we'll probably hit $200.  

[rpietila]

Ooh, bowl is tilted to the downside. Poll: should I send 2k to Gox to crash it (1k sell + 1k wall)?

Can I buy sub-100 back or no??  

[bangersdad]

Ooh, bowl is tilted to the downside. Poll: should I send 2k to Gox to crash it (1k sell + 1k wall)?

Can I buy sub-100 back or no??  

Vote for Yes....please 

[KillaMarci]

Does anybody know if the May 5th. value is accurate? It's showing up as 0.

[EuroTrash]

First China, now this: http://blog.coinbase.com/post/49782323057/coinbase-now-processing-15m-per-month-in-bitcoin-buys

Bullish?

Growth has been heavily constrained also, as you’ve noticed if you’ve seen the “sorry we’ve reached the maximum number of buys for today” message.  Most days we’ve been reaching our maximum amount of buys within an hour or two.  Some fixes for that are in the works.

Suffice to say, awareness about bitcoin is growing quickly!

Depends.

If most days they have been "reaching the maximum amount of buys within an hour or two", and if "some fixes for that are in the works", why did they have the need to blog about how good they are doing - who they are trying to appeal to? Wouldn't that generate even more load that their systems aren't able to handle right now?

[ineededausername]

Does anybody know if the May 5th. value is accurate? It's showing up as 0.

As far as I can tell, the latest one is always 0.

[MickeyT2008]

Ooh, bowl is tilted to the downside. Poll: should I send 2k to Gox to crash it (1k sell + 1k wall)?

Can I buy sub-100 back or no??  

That would be doing me a favour, so long as it happens BEFORE I buy back in with my half a penny of course!!

[KillaMarci]

Does anybody know if the May 5th. value is accurate? It's showing up as 0.

As far as I can tell, the latest one is always 0.

Ah okay. That makes sense then. Was wondering why the searches suddenly dropped down to 0 on Google Trends...

But on that chart you can pretty clearly see that China didn't have that big of an impact. Otherwise you would see it in the searches I presume? Although I'm not sure wether Google in blocked/censored in China.

[ManBearPig]

Does anybody know if the May 5th. value is accurate? It's showing up as 0.

All of Google's charts show today's incomplete data

[Ivanhoe]

Does anybody know if the May 5th. value is accurate? It's showing up as 0.

As far as I can tell, the latest one is always 0.

Ah okay. That makes sense then. Was wondering why the searches suddenly dropped down to 0 on Google Trends...

But on that chart you can pretty clearly see that China didn't have that big of an impact. Otherwise you would see it in the searches I presume? Although I'm not sure wether Google in blocked/censored in China.

Baidu is more popular as a search engine in China.

[EuroTrash]

Ooh, bowl is tilted to the downside. Poll: should I send 2k to Gox to crash it (1k sell + 1k wall)?

Can I buy sub-100 back or no??  

I'm here with popcorns.

Since the volume is ridiculous and everyone's sitting on the fence, it might be the only chance you can have to manipulate the market with so little money - if compared to Mr. 2M wall.

But I think that the result is uncertain. Correct me here as I'm not good at charts - but I think that few hours ago 30k+ dumps in one hour only moved the price 10$ down.

[SAQ]

Ooh, bowl is tilted to the downside. Poll: should I send 2k to Gox to crash it (1k sell + 1k wall)?

Can I buy sub-100 back or no??  

You wouldn't be able to crash anything. There's 2.5k to 117 and the price would quickly shoot up back to 120-121. You'd just be loosing money like last time haha

We're on an uptrend. If the bull is charging towards you with his horns you better move out of the way.

Now if you buy 2k btc, you'll probably make some decent money.

[ronaldlee0917]

Does anybody know if the May 5th. value is accurate? It's showing up as 0.

As far as I can tell, the latest one is always 0.

Ah okay. That makes sense then. Was wondering why the searches suddenly dropped down to 0 on Google Trends...

But on that chart you can pretty clearly see that China didn't have that big of an impact. Otherwise you would see it in the searches I presume? Although I'm not sure wether Google in blocked/censored in China.

It is a common mistake to assume Chinese people use Google as the default search engine, it might be true in the rest of the world, but not in China, they have their search engine called Baidu which accounts for over 80% of total search queries in the country. I have said it many times already on this forum, people keep bringing this up. Even when they use Google, they don't put English words inside the query, try 比特币 and see the result.

[elux]

NYC Yacht Charter up on Bitpremier: http://www.bitpremier.com/items/view/23

[hlynur]

Does anybody know if the May 5th. value is accurate? It's showing up as 0.

All of Google's charts show today's incomplete data

googlesearch statistics are perhaps representative in western civilsation.
But e.g. in china Baidu is the biggest search engine. would be interesting to get some statistics from there.

[hlynur]

Does anybody know if the May 5th. value is accurate? It's showing up as 0.

As far as I can tell, the latest one is always 0.

Ah okay. That makes sense then. Was wondering why the searches suddenly dropped down to 0 on Google Trends...

But on that chart you can pretty clearly see that China didn't have that big of an impact. Otherwise you would see it in the searches I presume? Although I'm not sure wether Google in blocked/censored in China.

It is a common mistake to assume Chinese people use Google as the default search engine, it might be true in the rest of the world, but not in China, they have their search engine called Baidu which accounts for over 80% of total search queries in the country. I have said it many times already on this forum, people keep bringing this up. Even when they use Google, they don't put English words inside the query, try 比特币 and see the result.

somebody was faster than me. sorry for doublepost

[ChartBuddy]