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

[kurious]

I may regret this in the morning, as it will cause some people to want to trade against me, but I feel that I need to put it out there. Bitcoin TA is heavily manipulated at the moment, by at least 2 parties. Be careful out there.

Could you please explain it in more detail? Is it the ask spikes I'm seeing @ 750 and 768 Bitstamp? Or something completely different?

Hint: China.

You mean that perfect pennant on the 1H or some other thing regarding your trip?

Are you still there btw?

Yeah, I'm a little confused by what Loaded is saying. The TA on the charts looks bullish, with a bullish pennant forming. It sounds like Loaded is saying the market is being manipulated upwards and so traders may want to hedge to the downside, which would go against his market buys. But really, I have no clue what he is saying.

Maybe he means volume and price at the Chinese exchanges (Huobi and OKcoin) witch makes the market look much more bullish than it really is.

Price manipulation is to keep it down, or up.

Keeping it up is so you can sell coins at artificially high prices

Keeping it down allows you to buy at artificially low prices.

Keeping the Chinese exchange prices high enables Chinese coins to be sold off easier in a general market that thinks China is still in the game. Actually, no money is going into Chinese exchanges and the reality is the smart Chinese money is pulling out.

This could be a clever, controlled sell-off of off-market (or market bought) coins originating in China, when if things were not being 'controlled' China exchange prices would be on the floor.

Keep China looking good and slowly ease those coins out and sell them steadily off at Stamp and BTC-e (but not at Gox)

Everything looks good, market believes China is now behind us, price slips a little, but hey, it's the holidays.  

And Big money is rinsed out of Chinese exhanges with no panic.

We see the lights on on BTCChina, but actually - no-one's home.  

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[TERA]

Don't try to figure out what Loaded meant. Just stay away from trading today. On a side note, I don't think he is into accumulating coins from us here, as we are small fish (most of us at least). When he starts trading, BELIEVE ME, we will know about it...

Do you mean like those 10K whale buys on gox that we haven't seen in... forever?

[macsga]

Don't try to figure out what Loaded meant. Just stay away from trading today. On a side note, I don't think he is into accumulating coins from us here, as we are small fish (most of us at least). When he starts trading, BELIEVE ME, we will know about it...

Do you mean like those 10K whale buys on gox that we haven't seen in... forever?

...or sales... In any case I'm HODLING!

[ChartBuddy]

[Ashitank]

FinCEN released guidance for miners http://cointext.com/fincen-issues-bitcoin-friendly-ruling-for-miners/

To the extent that a user mines Bitcoin and uses the Bitcoin solely for the user’s own purposes and not for the benefit of another, the user is not an MSB under FinCEN’s regulations, because these activities involve neither “acceptance” nor “transmission” of the convertible virtual currency and are not the transmission of funds within the meaning of the Rule. This is the case whether the user mining and using the Bitcoin is an individual or a corporation, and whether the user is purchasing goods or services for the user’s own use, paying debts previously incurred in the ordinary course of business, or (in the case of a corporate user) making distributions to shareholders. Activities that, in and of themselves, do not constitute accepting and transmitting currency, funds or the value of funds, are activities that do not fit within the definition of “money transmission services” and therefore are not subject to FinCEN’s registration, reporting, and recordkeeping regulations for MSBs…

FinCEN therefore concludes that, under the facts you have provided, Atlantic would be a user of Bitcoin, and not an MSB, to the extent that it uses Bitcoin it has mined: (a) to pay for the purchase of goods or services, pay debts it has previously incurred (including debts to its owner(s)), or make distributions to owners; or (b) to purchase real currency or another convertible virtual currency, so long as the real currency or other convertible virtual currency is used solely in order to make payments (as set forth above) or for Atlantic’s own investment purposes. Milly Bitcoin’s Mining Rig

well this was better than the Slovenian guidance, in Slovenia Mining is treated as undeclared work in which miners will have to pay a fine for it and then Taxes..... well congrats for US miners.

So what does this mean for mining contracts like mining shares & Bonds ?

[TERA]

If it plays out like in May then this weak trend has one more leg up and then the next pennant fails leading into final capitulation.

[Parazyd]

I've finally transferred (almost) all my BTC to paper wallets. Left 10 BTC on Bitstamp for a possible necessity.

[gandhibt]

I've finally transferred (almost) all my BTC to paper wallets. Left 10 BTC on Bitstamp for a possible necessity.

congrats! =)

[NewLiberty]

I may regret this in the morning, as it will cause some people to want to trade against me, but I feel that I need to put it out there. Bitcoin TA is heavily manipulated at the moment, by at least 2 parties. Be careful out there.

Could you please explain it in more detail? Is it the ask spikes I'm seeing @ 750 and 768 Bitstamp? Or something completely different?

Hint: China.

You mean that perfect pennant on the 1H or some other thing regarding your trip?

Are you still there btw?

Yeah, I'm a little confused by what Loaded is saying. The TA on the charts looks bullish, with a bullish pennant forming. It sounds like Loaded is saying the market is being manipulated upwards and so traders may want to hedge to the downside, which would go against his market buys. But really, I have no clue what he is saying.

I dont think one needs to read to far into what he said. The bitcoin market IS heavily manipulated and he who worships at the altar of Bitcoin TA worships a god on strings.

Panic << TA << fundamentals

[ChartBuddy]

[gandhibt]

small buying going on here now

[oda.krell]

God, guys (and the occasional girl)... I just threw up a bit in my mouth.

Can you maybe reign in the fawning over loaded (or, alternatively rpietla or whoever happens to be the whale-de-jour)?

He shows up, he makes an off handed remark, you read it, you grin, you forget about it. That's how it should go.

You do not start analyzing his words as if they were part of the scripture, hoping to get some divine insight into the market... here's the cold, harsh truth:

If there would be any substance behind rumors posted here, they wouldn't be posted here. Conversely, if they are posted here, they lack substance, and are either posted for shits and giggles or in an attempt to influence the market.

But you guys (and the occasional girl) sure make it easy for him* or other whales with your gullibility...


tl;dr Don't be a dumb ass: don't trust rumors (with no evidence to back them up) on an Internet forum. Actually, outside of a forum, don't trust them either.

* or any other large trader who posts here once in a while... I don't want to single out loaded, because he seems friendly enough

[rpietila]

What Loaded meant is that he has loads of customers who bought at $10-$100 and are eager to take part in Bitcoin's profits, but do not care about suffering its downtrends. He need to unload perhaps 10,000s of coins and is doing a good job manipulating the market to look like a good opportunity for the small traders to buy in. To sell the coins at this thin market a crash is required - there is just not enough volume in the updays.

In general, there is very little buying interest above $400. The smart money knows when there is more air in the bubble and has no problem waiting for not only realistic valuation but preferably despair.

[mmitech]

FinCEN released guidance for miners http://cointext.com/fincen-issues-bitcoin-friendly-ruling-for-miners/

To the extent that a user mines Bitcoin and uses the Bitcoin solely for the user’s own purposes and not for the benefit of another, the user is not an MSB under FinCEN’s regulations, because these activities involve neither “acceptance” nor “transmission” of the convertible virtual currency and are not the transmission of funds within the meaning of the Rule. This is the case whether the user mining and using the Bitcoin is an individual or a corporation, and whether the user is purchasing goods or services for the user’s own use, paying debts previously incurred in the ordinary course of business, or (in the case of a corporate user) making distributions to shareholders. Activities that, in and of themselves, do not constitute accepting and transmitting currency, funds or the value of funds, are activities that do not fit within the definition of “money transmission services” and therefore are not subject to FinCEN’s registration, reporting, and recordkeeping regulations for MSBs…

FinCEN therefore concludes that, under the facts you have provided, Atlantic would be a user of Bitcoin, and not an MSB, to the extent that it uses Bitcoin it has mined: (a) to pay for the purchase of goods or services, pay debts it has previously incurred (including debts to its owner(s)), or make distributions to owners; or (b) to purchase real currency or another convertible virtual currency, so long as the real currency or other convertible virtual currency is used solely in order to make payments (as set forth above) or for Atlantic’s own investment purposes. Milly Bitcoin’s Mining Rig

well this was better than the Slovenian guidance, in Slovenia Mining is treated as undeclared work in which miners will have to pay a fine for it and then Taxes..... well congrats for US miners.

This has nothing to do with taxes. This is to determine whether FinCEN has any regulation. FinCen doesn't have anything to do with taxation.

Anyway, funny how they refer to their monopoly money as 'real' money

it is not only about taxes, a miner doesn't need a licence for a money transmitter in the US, but mining in Slovenia will be treated as undeclared work which is illegal and on top taxes you will pay a fine for it, so in order for a Slovenian miner to continue mining under legal conditions he has to open a business, which means there is no room for small miners.... Mining will be more centralized this way

it is funny though, the definition of undeclared work is "offering a service or doing a work for individuals or companies for a reward/payment"  but in the mining case you are not doing it for anyone the  Bitcoin protocol compensate you with bitcoins so there is no individuals or companies behind it which the Slovenian regulators doesn't get I guess...

[oda.krell]

What Loaded meant is that he has loads of customers who bought at $10-$100 and are eager to take part in Bitcoin's profits, but do not care about suffering its downtrends. He need to unload perhaps 10,000s of coins and is doing a good job manipulating the market to look like a good opportunity for the small traders to buy in. To sell the coins at this thin market a crash is required - there is just not enough volume in the updays.

In general, there is very little buying interest above $400. The smart money knows when there is more air in the bubble and has no problem waiting for not only realistic valuation but preferably despair.

Quoted for future reference, to point out you where wrong one more time with your countless inaccurate predictions.

Full blown correction down to below 400 (i.e. sub 400 for daily average, not just a 1 hour dip to 380 or so) seems unlikely right now, given the market's reaction whenever we fell to that point.

But don't take my word for it... let's wait til late Januar/early February, and look back.

[Parazyd]

OMFG!!! I LOVE BITSTAMP!!!

Just logged in on one of my accounts and found out that I had an order to buy at somewhere around $490.
It passed through and I got 10 BTC!!!

[rpietila]

Instead of quoting and making insults, why don't you just count your BTC and learn from them who have more??  

[gandhibt]

God, guys (and the occasional girl)... I just threw up a bit in my mouth.

Can you maybe reign in the fawning over loaded (or, alternatively rpietla or whoever happens to be the whale-de-jour)?

He shows up, he makes an off handed remark, you read it, you grin, you forget about it. That's how it should go.

You do not start analyzing his words as if they were part of the scripture, hoping to get some divine insight into the market... here's the cold, harsh truth:

If there would be any substance behind rumors posted here, they wouldn't be posted here. Conversely, if they are posted here, they lack substance, and are either posted for shits and giggles or in an attempt to influence the market.

But you guys (and the occasional girl) sure make it easy for him* or other whales with your gullibility...


tl;dr Don't be a dumb ass: don't trust rumors (with no evidence to back them up) on an Internet forum. Actually, outside of a forum, don't trust them either.

* or any other large trader who posts here once in a while... I don't want to single out loaded, because he seems friendly enough

its okay to use "guy" from a girl, no other remarks

[niothor]

What Loaded meant is that he has loads of customers who bought at $10-$100 and are eager to take part in Bitcoin's profits, but do not care about suffering its downtrends. He need to unload perhaps 10,000s of coins and is doing a good job manipulating the market to look like a good opportunity for the small traders to buy in. To sell the coins at this thin market a crash is required - there is just not enough volume in the updays.

In general, there is very little buying interest above $400. The smart money knows when there is more air in the bubble and has no problem waiting for not only realistic valuation but preferably despair.

The more you post the more it looks like your "prediction" of the last crash was just a blind squirrel finding a nut tbh

When you make a prediction a day , and on Monday you say up , on Tuesday down, on Wednesday that "something will happen sometimes" , one will be right , right?

Remember the Roubini guy? He made one good prediction and since then he's always betting on the wrong horse.
http://www.economicpredictions.org/nouriel-roubini-predictions/

[mmitech]

What Loaded meant is that he has loads of customers who bought at $10-$100 and are eager to take part in Bitcoin's profits, but do not care about suffering its downtrends. He need to unload perhaps 10,000s of coins and is doing a good job manipulating the market to look like a good opportunity for the small traders to buy in. To sell the coins at this thin market a crash is required - there is just not enough volume in the updays.

In general, there is very little buying interest above $400. The smart money knows when there is more air in the bubble and has no problem waiting for not only realistic valuation but preferably despair.

 if you want a crash make it happen, dump all your coins (the ones you "still" have), you know that you are embarrassing your self, everyone is laughing at your worthless "facts" oh I mean predictions..... want to see 400 again ? make it happen ...

only noobs fall for his  "rich people like me" "market movers like me"  "Pro traders like me" "my clients".....