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

[maz]

Someone buys 700+ coins @ Gox. Follow up: 0.0.

I declare this market dead 

Are you still bearish?

[1714326656]

1714326656

[1714326656]

1714326656

[1714326656]

1714326656

[Wekkel]

Someone buys 700+ coins @ Gox. Follow up: 0.0.

I declare this market dead 

Are you still bearish?

I will move the way the market moves. Not much right now, I would say.

[oda.krell]

Nobody posted about the fact that BTC reached parity with gold again for a little while.

What's the deal with this "gold parity" fallacy? I can understand why the media is picking it up, it sure sounds catchy, but it's completely meaningless except for that rather shallow psychological reasons (I'm not dismissing psychological reasoning altogether, just pointing out that this one is really rather dumb and easy to see through). If we ever reach parity with tradeable gold market cap, now that would be news. But I'm pretty sure it's a long way til we get there, if ever.

[dwdoc]

Nobody posted about the fact that BTC reached parity with gold again for a little while.

Gox price has come very close but has never quite reached the spot price of gold in USD.

[scarsbergholden]

when it comes to bitcoins, i prefer to keep my unit in bitcoins. if my bitcoins are worth $1MM each, i don't care if satoshis are 1c each.

what i do know is that if bitcoin continues to see exponential growth in coming years, repeatedly changing the unit doesn't help the confusion at all.

[Richy_T]

Nobody posted about the fact that BTC reached parity with gold again for a little while.

At what time? Gold has been moving up today also.

[Richy_T]

Nobody posted about the fact that BTC reached parity with gold again for a little while.

What's the deal with this "gold parity" fallacy? I can understand why the media is picking it up, it sure sounds catchy, but it's completely meaningless except for that rather shallow psychological reasons (I'm not dismissing psychological reasoning altogether, just pointing out that this one is really rather dumb and easy to see through). If we ever reach parity with tradeable gold market cap, now that would be news. But I'm pretty sure it's a long way til we get there, if ever.

It's just a milestone.

[scarsbergholden]

Nobody posted about the fact that BTC reached parity with gold again for a little while.

What's the deal with this "gold parity" fallacy? I can understand why the media is picking it up, it sure sounds catchy, but it's completely meaningless except for that rather shallow psychological reasons (I'm not dismissing psychological reasoning altogether, just pointing out that this one is really rather dumb and easy to see through). If we ever reach parity with tradeable gold market cap, now that would be news. But I'm pretty sure it's a long way til we get there, if ever.

it's completely stupid. 1 oz = 1 bitcoin? what is that supposed to say? i'm a bull too, but these shenanigans are just stupid.

[mmitech]

No walls are holding price down atm. Buyers are just waiting and sellers holding. Indicators spiking up without significant price increases to show. Last time we dipped, we had this lull above ATH, now its below.

I am all cash now.

Someone buys 700+ coins @ Gox. Follow up: 0.0.

I declare this market dead  

Are you still bearish?

I will move the way the market moves. Not much right now, I would say.

you went all cash, you are afraid if the train will leave you behind this is why you have that feeling or hope that the price will crash and you still catch up, to be honest I wasn't sure as well so I cashed out %15 of my Bitcoins before the crash and now I am worry free, If there will be some correction after a new ATH I don't really mind it

[scarsbergholden]

Nobody posted about the fact that BTC reached parity with gold again for a little while.

What's the deal with this "gold parity" fallacy? I can understand why the media is picking it up, it sure sounds catchy, but it's completely meaningless except for that rather shallow psychological reasons (I'm not dismissing psychological reasoning altogether, just pointing out that this one is really rather dumb and easy to see through). If we ever reach parity with tradeable gold market cap, now that would be news. But I'm pretty sure it's a long way til we get there, if ever.

It's just a milestone.

it's not. based on the mBTC crowd's reasoning, we won't be using 1 oz as the standard measure in the future.

[ShroomsKit]

Someone buys 700+ coins @ Gox. Follow up: 0.0.

I declare this market dead 

This worries me as well. It just doesn't want to go up even with these kinda buys.
Every time it goes up a few dollar people right away start selling. This has been going on for 2 days now or so.

[Richy_T]

it's not. based on the mBTC crowd's reasoning, we won't be using 1 oz as the standard measure in the future.

Sure it is. A milestone is just an arbitrary marker. In this case a moving one.

[oda.krell]

Nobody posted about the fact that BTC reached parity with gold again for a little while.

What's the deal with this "gold parity" fallacy? I can understand why the media is picking it up, it sure sounds catchy, but it's completely meaningless except for that rather shallow psychological reasons (I'm not dismissing psychological reasoning altogether, just pointing out that this one is really rather dumb and easy to see through). If we ever reach parity with tradeable gold market cap, now that would be news. But I'm pretty sure it's a long way til we get there, if ever.

It's just a milestone.

it's not. based on the mBTC crowd's reasoning, we won't be using 1 oz as the standard measure in the future.

Well, in defense of the idea: There's no arguing with market participant's psychology, is there. If enough people somehow feel it is a milestone, then it is a milestone.

In fact, there's also no particularly deep reason behind the powers of 10 price steps (10, 100, 1000), and yet they act as major support/resistance points.

[keewee]

Another wall joins the first...

[nagnagnag2]

a new bid wall of 1046@1200 on mtgox 

[ShroomsKit]

a new bid wall of 1046@1200 on mtgox 

Yeah nice. Maybe we're finally going somewhere.

[rezurect]

With such volatility how can BTC be used for buying/selling. Since prices are driven by speculation whats the range btc is going to settle for if it ever will. Crash >Rally>Crash >Rally.
The 13btc Asic Miner cards?

Arent currencies are supposed to trade in range to be of some use to public. Till that day comes. Bitcointalk and China rules!!

[hd060053]

they want to push the price up now with this walls.

[scarsbergholden]

it's not. based on the mBTC crowd's reasoning, we won't be using 1 oz as the standard measure in the future.

Sure it is. A milestone is just an arbitrary marker. In this case a moving one.

shrug, yeah i guess i always saw all these milestones as meaningless anyway, so, sure.

[Aido]

A milestone is just an arbitrary marker. In this case a moving one.

Here's another milestone, Gold ATH $1,923......I think, depends what sources you read.