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

[oda.krell]

You lost me.

Time to get some sleep.

night everybody.

[gandhibt]

h4 rsi just went overbought, SELL SELL SELL

[N12]

It's a 3 dimensional chart of the MtGox order book. From "behind" to the "front", time progresses. Left to right, bids and asks at a progression of prices. The height is the size of the orders. And it's cumulative, so all orders are added up.

The easiest way to understand this stuff is probably to go to bitcoin.clarkmoody.com and observe it in real time.

[oda.krell]

never trust one indicator alone. particularly not rsi in times where it's not clear if it's consolidation or correction

oh wait, you were joking

[kkaspar]

Do you guys understand that even if the market volumes are all bogus and made up to simulate buys to give an illusion of rising value, and then the exchanges would get cought doing this, then no actual laws would be broken and noone would actually be held responsible?
The way that the market has acted for the past week is funny at best. No actual reasons of price change directions and no logical trends. Just a big chaos of market manipulation. It feels like the BTC market has been hijacked by people who have no actual belief in the future of BTC, so they don't care about the BTC market reputation. And to be honest, BTC does deserve it, because the dev and the community is just ignoring the way that the market is ruined more and more everyday. Bitcoin.org still guides people to MtGox as the first recommended exhange, when there are credible evidence that MtGox owners are actually manipulating the market to support their own investment directions.

Trust in bitcoin software security isn't everything. There also has to be trust in the market that actually gives value to bitcoin. And I think that the unregulated nature of the bitcoin market will be end of bitcoin. Most people are too busy being oblivious and watching if the price is rising or falling again without any reason, so they could buy low and sell high. The bitcoin community has changed from idealistic technophiles into greedy and simple-minded folks who can't see beyond the rises and falls that bitcoinwisdom presents them.

[meanig]

If anyone wants to kill the Dogecoin spam dead here is your chance

http://www.reddit.com/r/dogecoin/comments/1tp40b/dogecoin_is_broken_merry_christmas/

The creator really screwed up the fee rules. You can add 1GB of transactions to the blockchain with only 1 Dogecoin  

[N12]

Do you guys understand that even if the market volumes are all bogus and made up to simulate buys to give an illusion of rising value, and then the exchanges would get cought doing this, then no actual laws would be broken and noone would actually be held responsible?

That's the horrifying thing. There is every incentive to do this, and it will only get more and more sophisticated.

[Sitarow]

Edit: Low volume price rise makes you go hmmm.
MtGox


Bitstamp


BTCChina


OKCoin


24Hour Volume

[gandhibt]

never trust one indicator alone. particularly not rsi in times where it's not clear if it's consolidation or correction

oh wait, you were joking

i also trust the 1000 coin wall at stamp (resistant at $700) i was not joking, i sold a little

EDIT. h4 rsi was last time overbought at ath

[mb300sd]

Time for another new years rally...

[ElectricMucus]

Do you guys understand that even if the market volumes are all bogus and made up to simulate buys to give an illusion of rising value, and then the exchanges would get cought doing this, then no actual laws would be broken and noone would actually be held responsible?

That's the horrifying thing. There is every incentive to do this, and it will only get more and more sophisticated.

At least we know that when it's time to all end how it will happen.

[adnanabbas]

Do you think its wise to hold off buying right now?

Best recommendation right now is placing a limit order at ~100 and another one at ~1500, and waiting for them to be filled. Might take a while, but better to be prepared and spread your bids a bit.

Sorry to sound like a dumbass, its going to be the first time i will be buying something worth mentioning (5-10BTC)
What do you mean by "limit order at ~100 and another one at ~1500"?

[gandhibt]

Do you think its wise to hold off buying right now?

Best recommendation right now is placing a limit order at ~100 and another one at ~1500, and waiting for them to be filled. Might take a while, but better to be prepared and spread your bids a bit.

Sorry to sound like a dumbass, its going to be the first time i will be buying something worth mentioning (5-10BTC)
What do you mean by "limit order at ~100 and another one at ~1500"?

you could buy 1/4 now, but good rule is to not buy in rally, but good rule is also that never go full fiat so that's why it would be good to buy something even in rally

[nanobrain]

Do you think its wise to hold off buying right now?

Best recommendation right now is placing a limit order at ~100 and another one at ~1500, and waiting for them to be filled. Might take a while, but better to be prepared and spread your bids a bit.

Sorry to sound like a dumbass, its going to be the first time i will be buying something worth mentioning (5-10BTC)
What do you mean by "limit order at ~100 and another one at ~1500"?

Place a bet at around $100 and another at $1500...buy on the first, sell on the second.

I wouldn't worry about it if you are starting out.
Just buy and hodl

[nanobrain]

Do you think its wise to hold off buying right now?

Best recommendation right now is placing a limit order at ~100 and another one at ~1500, and waiting for them to be filled. Might take a while, but better to be prepared and spread your bids a bit.

Sorry to sound like a dumbass, its going to be the first time i will be buying something worth mentioning (5-10BTC)
What do you mean by "limit order at ~100 and another one at ~1500"?

you could buy 1/4 now, but good rule is to not buy in rally, but good rule is also that never go full fiat so that's why it would be good to buy something even in rally

Sooo many 'rules'

And you forgot...never trust any advice you get here....er....except ...er..

[Spaceman_Spiff]

I can only imagine the confusion of a bitcoin noob when he or she visits the forums, and is not only faced with the technical jargon about bitcoin, but all the meme-speak (and "obvious" trolling)  too   .

[nanobrain]

I can only imagine the confusion of a bitcoin noob when he or she visits the forums, and is not only faced with the technical jargon about bitcoin, but all the meme-speak (and "obvious" trolling)  too    .

I lurked for six months before joining...I've found it pays to 'research' before joining forums and leaping in only to be savaged by the board nutter.

[QuestionAuthority]

I can only imagine the confusion of a bitcoin noob when he or she visits the forums, and is not only faced with the technical jargon about bitcoin, but all the meme-speak (and "obvious" trolling)  too   .

Nobody trolls on this forum. All answers are perfectly sincere.  https://bitcointalk.org/index.php?topic=370234.msg4144536#msg4144536

[micalith]

erm... choo choo

[adnanabbas]

I can only imagine the confusion of a bitcoin noob when he or she visits the forums, and is not only faced with the technical jargon about bitcoin, but all the meme-speak (and "obvious" trolling)  too   .