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

[OldGeek]

This moderate recovery may allow an entry point.  Fingers crossed.

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[tutkarz]

Guess you don't understand why bitcoin have to have high price (and stable) so it's economy can function, do you?

It is apparent that our views are different.  My belief on the economy of bitcoin relates to the value of the underlying protocol, not the miners reward that we are trading here.  

I won't change your mind, you won't change mine, so let's agree to hold this type of argument somewhere else besides in the speculation thread.  OK?

First of all this topic has a lot common things with speculation because people are speculating not even knowing how they are hurting themselves in the process.
Second, I was not referring to miners but merchants.

Compare two scenarios:
1. Stable growth of bitcoin price, when people are buying and holding bitcoins and who needs to sell, he is doing only this. People are spending they coins when they can.
2. People are trying hard to move the price in all directions to grab as many bitcoins or money from others not doing anything constructive.

To prove I'm right look at this: bitcoin price $1 and media barely mentions about something geeks created, $100 media is more interested, $1000 beginning of mentioning about Wall Street investing, $10000 Wall Street here. Do you see what I mean? Higher price is better for everyone and you don't need to even gamble to be rewarded for helping community.

[1FfmbHfnpaZjKFvyi1okTjJJu]

The new China DLC has made it really interesting.

[mb300sd]

Probably like 20k lines here... gotten about 0.01 in donations so far...

https://github.com/mb300sd

[TERA]

I'll give the bulls a break and post something bullish:

[mb300sd]

Bullishit
Used to describe irrational exuberance and blatant corruption or stupidity when stating that one is "bullish" on a particular investment vehicle.
My friend said that he was bullish on bank stocks and that the banks aren't insolvent and have plenty of cash; I told him he was full of Bullishit.

* mb300sd hammered

[fr33d0miz3r]

I'll give the bulls a break and post something bullish:

yes of course

[windjc]

I'll give the bulls a break and post something bullish:

Good lord those look similar. I doubt the real validity of the comparison here, but cool find.

You finally gave the bulls a break. I figured youd be feeling a little better after this trickle down.

[mb300sd]

Probably like 20k lines here... gotten about 0.01 in donations so far...

https://github.com/mb300sd

Wow, thank you to whoever just donated... most i've been paid for code in years

[windjc]

I'll give the bulls a break and post something bullish:

yes of course

What really sucks about that red trendline there, is that if you blow the chart up and follow that trendline down, it goes to -142. Which means you then owe $142 for every bitcoin you own.

[fr33d0miz3r]

What really sucks about that red trendline there, is that if you blow the chart up and follow that trendline down, it goes to -142. Which means you then owe $142 for every bitcoin you own.

Of course the trendline could be irrelevant, but crossing SMA and EMA telling us all.

[kurious]

Still wondering who will nail what the grey line on Bitconwisdom is.  

The question has been asked a few times since yesterday....

Is it to do with bid depth average movement? It seems to move with bids, rather than asks - I am stumped - anyone got an answer yet?

EDIT - it moves with both - so it must be a balance of some sort between the two.

[ChartBuddy]

[derjanb]

Probably like 20k lines here... gotten about 0.01 in donations so far...

https://github.com/mb300sd

47K lines of code for 1.22 BTC  

https://chrome.google.com/webstore/detail/tampermonkey/dhdgffkkebhmkfjojejmpbldmpobfkfo
https://blockchain.info/address/1DonatemDfMvQsLweYxPyA29rdgsXsxEc7

[mb300sd]

* crickets *

[spooderman]

Ok so RP and his boys gonna dump in like 9 hours? That's when Sunday's dump usually happens. My guess is if he's gonna do it, that's when he will. Hope you all are ready for teh cheap coins! I guess he'll sink it down to the low 700s at best (from his perspective).

[Loaded]

Ok so RP and his boys gonna dump in like 9 hours? That's when Sunday's dump usually happens. My guess is if he's gonna do it, that's when he will. Hope you all are ready for teh cheap coins! I guess he'll sink it down to the low 700s at best (from his perspective).

Watching. I'm craving more whale caviar. yumm$$$BTCBTCBTCBTC

[JorgeStolfi]

Still wondering who will nail what the grey line on Bitconwisdom is.  

My guess:

Imagine that the cumulative bid and ask plots are the sides of a valley. (Turn that part of the chart 90 degrees counter-clockwise)  Fill the valley gradually with water. At each level of the water, mark the midpoint between the left and right banks.

That plot would be read as follows: suppose that we pair up the highest bids with the lowest offers, at a price that halfway both.  As you do that, record the current price on one axis, and the total amount traded so far on the other axis,

Makes sense?

[Vycid]

Still wondering who will nail what the grey line on Bitconwisdom is.  

My guess:

Imagine that the cumulative bid and ask plots are the sides of a valley. (Turn that part of the chart 90 degrees counter-clockwise)  Fill the valley gradually with water. At each level of the water, mark the midpoint between the left and right banks.

That plot would be read as follows: suppose that we pair up the highest bids with the lowest offers, at a price that halfway both.  As you do that, record the current price on one axis, and the total amount traded so far on the other axis,

Makes sense?

This "flooding valley midpoint" explanation reminds me strongly of the thermal expansion mechanism 

[spooderman]

Ok so RP and his boys gonna dump in like 9 hours? That's when Sunday's dump usually happens. My guess is if he's gonna do it, that's when he will. Hope you all are ready for teh cheap coins! I guess he'll sink it down to the low 700s at best (from his perspective).

Watching. I'm craving more whale caviar. yumm$$$BTCBTCBTCBTC

Alright, hope you have a nice meal. He (and his "clients") may also wait until China starts it's Monday. If they start downward he can try and add to the panic. This would be more effective obviously. He wants....$500 coins right?