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

[Vycid]

what was that? Sharp knife on all three major exchanges at the same time?

¯\(°_o)/¯

[neutrinox]

That is another stumbling block for economists.  Infation encourages people to spend or invest their currency as soon as possible, thus keeping the economy in motion.  Deflation has the opposite effect, it encourages people to hoard the currency.  If bitcoins increase in value, they will be hoarded, and therfore will be less used in trade, and therefore their usefulness will be limited, and therefore their value will collapse. How will this paradox get resolved?

Okay, you say nobody want's to buy due to deflation because price will be cheaper tomorrow. I say with the same logic nobody should want to sell due to inflation because price will be higher tomorrow. Yet people are selling things all the time. People are also buying massive amounts of phones and computers, even though they will be better tomorrow. In real life, very few people can afford to hoard and wait. We have needs as humans that can't be put on hold forever.

[traderCJ]

what was that? Sharp knife on all three major exchanges at the same time?

China definitely led this one.

[Erdogan]

That is another stumbling block for economists.  Infation encourages people to spend or invest their currency as soon as possible, thus keeping the economy in motion.  Deflation has the opposite effect, it encourages people to hoard the currency.  If bitcoins increase in value, they will be hoarded, and therfore will be less used in trade, and therefore their usefulness will be limited, and therefore their value will collapse. How will this paradox get resolved?

Okay, you say nobody want's to buy due to deflation because price will be cheaper tomorrow. I say with the same logic nobody should want to sell due to inflation because price will be higher tomorrow. Yet people are selling things all the time. People are also buying massive amounts of phones and computers, even though they will be better tomorrow. In real life, very few people can afford to hoard and wait. We have needs as humans that can't be put on hold forever.

Best anti deflation scare argument ever.

[spooderman]

I felt so bearish earlier. Now this is happening it just feels like another bear trap.

[RicePicker]

The same pattern seems to happen every week for the past few weeks recently. Tuesday night/morning there is always a significant push in price, then later Wednesday night/morning there is a drop causing panic sells. After that a bunch of buys occur causing the price to spike up again. Thursday-Friday there is a slow decline in price. Someone is making some serious $$.

[MickeyT2008]

The same pattern seems to happen every week for the past few weeks recently. Tuesday night/morning there is always a significant push in price, then later Wednesday night/morning there is a drop causing panic sells. After that a bunch of buys occur causing the price to spike up again. Thursday-Friday there is a slow decline in price. Someone is making some serious $$.

There's a lot of people who are so new to this and nervous after the correction that they'll dump their coins just because a car backfires at the end of their street, if someone has enough BTC/fiat to push the market around their fear must be easy to cash in on.

I've fallen for that one a few times myself, these days I'd rather wait to see if there's an established downward trend rather than reacting to the first whale sell off.

[micalith]

http://www.youtube.com/watch?v=ZR6wok7g7do#t=0m9.5s

[Erdogan]

[...]

That is another stumbling block for economists.  Infation encourages people to spend or invest their currency as soon as possible, thus keeping the economy in motion.  Deflation has the opposite effect, it encourages people to hoard the currency.  If bitcoins increase in value, they will be hoarded, and therfore will be less used in trade, and therefore their usefulness will be limited, and therefore their value will collapse. How will this paradox get resolved?

Now I have to find every anti-deflationist economist out there, e-mail them and ask them to get into a discussion with me, resolve it, come back here and answer you. Would it not be easier to post your own thoughts here directly?

[Bitcoines]

http://www.youtube.com/watch?v=ZR6wok7g7do#t=0m9.5s

lol nice one

[EuroTrash]

Turns out it is due to a Max Keiser's tweet. He is likely the whale playing us all.

[Dragonkiller]

Turns out it is due to a Max Keiser tweet. He is likely the whale playing us all.

All he does is pump and dump for his own gain.

[Bitcoines]

seems that gold followed us this time lol

[seleme]

How to move USD funds from trading to exchange balance on Bitfinex?

[Vycid]

Hm, was that it?

Edit: Stamp/Gox diverging...

Edit2: Ah, there we go.

[UnDerDoG81]

WTF does everybody buy now, let the price go down a bit more  

Somebody is trying to drop the price more and somebody is trying to upper the price on stamp ^^

[Vycid]

WTF does everybody buy now, let the price go down a bit more  

They want to get cheap coins as much as you do.

[UnDerDoG81]

900$ is not cheap, 600$ was ok   

[aazssx]

'cheap' coins

[MicroFi]

WTF does everybody buy now, let the price go down a bit more  

Somebody is trying to drop the price more and somebody is trying to upper the price on stamp ^^

I'm glad I didn't put my buy order too low.
Made a measly 0.7% on this movement. Big winner: MtGox