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

[KFR]

... You know you've got them when their correcting your spelling.

That's "You know you've got them when they're correcting your spelling."

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[seanneko]

Lol @ The bug at MTGox hasn't "saved" the crash. WTF. Having an insecure big exchange will lead to a lower overall price. So we'd be higher now without Gox' fuck up.

+1

It looks a scarily immature system for anyone to feel secure in investing in, if the 'major' and best known exchange is not remotely reliable

And yet people had (still have?) it in their head that we'll hit $10k next year.

Yeah, I can really see multi billionaires putting their money into Bitcoin when the largest exchange implodes for no significant reason.

[Coinseeker]

Lol @ The bug at MTGox hasn't "saved" the crash. WTF. Having an insecure big exchange will lead to a lower overall price. So we'd be higher now without Gox' fuck up.

+1

It looks a scarily immature system for anyone to feel secure in investing in, if the 'major' and best known exchange is not remotely reliable

And yet people had (still have?) it in their head that we'll hit $10k next year.

Yeah, I can really see multi billionaires putting their money into Bitcoin when the largest exchange implodes for no significant reason.

It was likely deliberate.  To give the market a breather and hopefully prevent further selloff.

[kurious]

Lol @ The bug at MTGox hasn't "saved" the crash. WTF. Having an insecure big exchange will lead to a lower overall price. So we'd be higher now without Gox' fuck up.

+1

It looks a scarily immature system for anyone to feel secure in investing in, if the 'major' and best known exchange is not remotely reliable

Imagine what the price will if/when the exchanges become reliable!  

They will have to - but at least we have a spread now - I am respecting Stamp more for being more stable.

I think in this relatively Darwinian situation, Gox will lose it place unless it gets way better.   An exchange which you can't withdraw from is a total joke, let's face it.  If it is also unstable - it must change for the better, or die.

A year back there was only really Gox - step up, New Contenders - the prize is yours...

[tHash]

If you based your trade's on anyone's posts other than your own research then you're an idiot. I'm not so naive enough as to think anything I say can sway anyone's decisions on a forum thread, that's simpleton material.

Most newbs are simpletons, not experienced traders.   They do indeed listen to what is said on this forum, no matter how stupid that is.

Did you just give him more incentives to spread more BS?

LOL

I would imagine most already can piece together that people can be swayed like a bunch of sheep.   Also, we need perpetual bears to temper the exuberance of the over the top bulls.   An unchecked bull market is much more of a disaster waiting to happen.  

[donut]

If Bitcoin can sustain these prices without China, I'd be very surprised.  I have a feeling it's going to be a long and nasty weekend.

Bitcoin is not "without China".

Bitcoin is without Chinese banks.

Understand?

Bitcoin is without Chinese banks and Chinese merchants.

Understand?

No, bitcoin still has chinese merchants. Just not banks.

[freethink2013]

so 850 is the new floor imo.

We saw total panic tonight and yet once we approached 850 buyers started perking up.

LOL approached 850?

Don't you mean after we got spat out of a gox failsafe loop for an hour which blocked any trading below $829? It's worth noting ever other exchange sat frozen for half an hour waiting for gox to take the lead again before making any moves back up.

poeple were trading........

It completely killed the momentum of the dip, who knows where gox would have stopped, it was certainly headed for 700.

but the deeper it falls the harder its bounces back.

stop thinking of what could have been.

How many times does Bitstamp need to bounce from 0.800 before people realize it's the new floor?   Every bounce (3 so far) adds to the strength of the support, and it is already in the Titanium level, comparable to molecular's left nut.

Buying at 0.800 is better EV than buying at 1.000. From 1 it can go either way, but from 0.800 it always goes up, and the 10% probability not included in "always" is only that it will dip to 0.6 for a few hours. Nothing to be scared of.

What's funny is bears WANT bitcoin and that desire is what keeps the price up above what they are willing to pay.

[ablewasiereisawelba]

If Bitcoin can sustain these prices without China, I'd be very surprised.  I have a feeling it's going to be a long and nasty weekend.

Bitcoin is not "without China".

Bitcoin is without Chinese banks.

Understand?

Bitcoin is without Chinese banks and Chinese merchants.

Understand?

Ah yes, those Chinese merchants were really driving the Bitcoin economy.

Sarcasm, understand?

[freethink2013]

It's still a great way for remittance back to china

[Voodah]

Lol @ The bug at MTGox hasn't "saved" the crash. WTF. Having an insecure big exchange will lead to a lower overall price. So we'd be higher now without Gox' fuck up.

+1

It looks a scarily immature system for anyone to feel secure in investing in, if the 'major' and best known exchange is not remotely reliable

And yet people had (still have?) it in their head that we'll hit $10k next year.

Yeah, I can really see multi billionaires putting their money into Bitcoin when the largest exchange implodes for no significant reason.

Hahaha, do you really think "multi billionaires" buy in Gox just like regular folks ??

[Coinseeker]

If Bitcoin can sustain these prices without China, I'd be very surprised.  I have a feeling it's going to be a long and nasty weekend.

Bitcoin is not "without China".

Bitcoin is without Chinese banks.

Understand?

Bitcoin is without Chinese banks and Chinese merchants.

Understand?

Ah yes, those Chinese merchants were really driving the Bitcoin economy.

Sarcasm, understand?

Nothing is driving this but speculation.  I've known that since day one.  But the future expectation of what China could bring to the table, just got obliterated.  No banks, no merchants...simply reduced to trading it online.  I'm sure this is all very bullish news though.    

[adamstgBit]

2000$ in 2 weeks tops.

[keewee]

[relm9]

2000$ in 2 weeks tops.

I agree. The people that are selling today and over the weekend are going to be pissed when it starts trending towards $2k next week. This is a blip on the radar.

[beaconpcguru]

Gox leaking market share every day. The last days of an era.

bitstamp     31.010%   45152.250   0.850 USD
mtgox*   30.000%   43688.600   0.871 USD
btce           29.750%   43320.360   0.880 USD

Seems that data is lagging too. Mtgox is less than halve of BTC-e bitcoin volume plus over 1 million litecoins as well
http://www.cryptocoincharts.info/v2/markets/info/

That includes all BTC pairs .. so not very accurate

[kurious]

If you based your trade's on anyone's posts other than your own research then you're an idiot. I'm not so naive enough as to think anything I say can sway anyone's decisions on a forum thread, that's simpleton material.

Most newbs are simpletons, not experienced traders.   They do indeed listen to what is said on this forum, no matter how stupid that is.

Did you just give him more incentives to spread more BS?

LOL

I would imagine most already can piece together that people can be swayed like a bunch of sheep.   Also, we need perpetual bears to temper the exuberance of the over the top bulls.   An unchecked bull market is much more of a disaster waiting to happen.  

Probably a wise comment - Adam's vote had 80% agreeing $30,000 USD.

I am here to see BTC grow, it is an investment and I think most who are here are pretty much the same as me.  But hey, we do have a way to go yet.

I do think we need tempering a bit sometimes though.

However, I don't like the level of vitriolic insults - not my style.  Read them all and judge, sure.  Argue, even.

Personal insults just prove someone has no validation of their life that makes sense outside this forum, in my humble opinion.

[tHash]

There is every probability that countries with capital controls will adopt a negative stance towards bitcoin(China).   In those countries bitcoin will be highly sought after for exactly that reason, to escape capital controls.   In countries that adopt a more liberal stance, we are just seeing the beginning of the spread of bitcoin as a useful currency.   The fact that China didn't act to shut down the exchanges is big in my opinion.

Also, all during the run up, the bears were saying that volume in China was fake, and therefore China was not a factor.   Suddenly now, China will be the end of bitcoin?  

[ablewasiereisawelba]

If Bitcoin can sustain these prices without China, I'd be very surprised.  I have a feeling it's going to be a long and nasty weekend.

Bitcoin is not "without China".

Bitcoin is without Chinese banks.

Understand?

Bitcoin is without Chinese banks and Chinese merchants.

Understand?

Ah yes, those Chinese merchants were really driving the Bitcoin economy.

Sarcasm, understand?

Nothing is driving this but speculation.  I've known that since day one.  But the future expectation of what China could bring to the table, just got obliterated.  No banks, no merchants...simply reduced to trading it online.  I'm sure this is all very bullish news though.    

I didn't say it was bullish. You said you'd be surprised if this price can be sustained without China, and I pointed out that we are not without China.

Understand?

[rpietila]

Hahaha, do you really think "multi billionaires" buy in Gox just like regular folks ??

This is to the Multi Billionaires that sometimes read the forum:

Haha. Multi Billionaires know that they can come to me to buy. Terms of trade similar as with PM trade. But please do not make it sound like there is something criminal going on in your end. I have lost many good deals because I also have rational evaluation of my customers. It is quite normal to buy bitcoins from my Estonian dealership, so please be instructed that the minimum is at least BTC20 and premium over the cheapest exchange 10% or more. Price can be locked in immediately upon receipt of the deposit.

[adamstgBit]

http://www.youtube.com/watch?v=fBLpx6gQtUU

this is no joke.
we are making a difference.
step back and look at the big picture you silly bears.