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

[macsga]

May I suggest some perfect reasons why none of us here shouldn't give a black rat's ass for huobi or other exchanges.

1. They're not subjective to ANY legal regulations whatsoever.
2. If they want they can link each other with the API that MtGox gave them a couple of weeks ago (see backlog here for details).
3. MOST of the big (that is over than 10K coins) trades are being done OFF catalog and for certain reasons...
4. They tend to serve a purpose and that's the stability of BTC value (and getting money in the mid time).
5. If you were in their shoes what would you do to preserve 4 keeping in mind privileges 1,2 and 3?
6. There are equal chances that ALL the above I wrote is total BS and freemarket rules are in charge... who knows?

My point is that people want to know what BTC value is regarding to fiat money. That's just it. They want to know what's its store of value is. We don't need exchanges, we don't even need fiat for this. Only the fabric of the BTC network grow bigger and businesses like overstock come aboard. Then Huobi, MtGox, Kraken and so forth, will have nothing to do with BTC price equity.

Just my 0.00000002BTC

[1714952089]

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[1714952089]

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[1714952089]

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[QuestionAuthority]

No trading fees. So those trading can trade 100x more often withy their bots than they can on the other exchanges.

I see.  But if the bitcoins actually change hands, then the trades (robot or not) are not fake, and and the price they define is the real price.  Non-zero fees obviously drive speculators away from other exchanges.

If Huobi's daily BTC volume is now really 4x that of Bitstamp, MtGox and BTC-e (as Bitcoinwisdom seems to show) , then they should tend to control the market, with the others following through arbitrage.

Huobi is only big because Chinese have been squirting out kids like shrimp at a buffet for generations. There's no one other than Chinese trading there.

[adamstgBit]

the plunge is coming, everyone must make the pledge!

[QuestionAuthority]

the plunge is coming, everyone must make the pledge!

Right over the cliff if I have to.

[macsga]

the plunge is coming, everyone must make the pledge!

HODL BROTHA'!!! HODL!!!!!!1
PS:
Polar Bear Plunge:

[proudhon]

the plunge is coming, everyone must make the pledge!

Just remember, if you're in the US, everytime you execute orders on a market you restart the clock on long term capital gains eligibility.  That's ok, though, because short term capital gains is only like twice as much.

[adamstgBit]

the plunge is coming, everyone must make the pledge!

Just remember, if you're in the US, everytime you execute orders on a market you restart the clock on long term capital gains eligibility.  That's ok, though, because short term capital gains is only like twice as much.

i'm not in the US

[DaRude]

the plunge is coming, everyone must make the pledge!

Just remember, if you're in the US, everytime you execute orders on a market you restart the clock on long term capital gains eligibility.  That's ok, though, because short term capital gains is only like twice as much.

i'm not in the US

Just need one US lemming to foil the canadian plan 

[QuestionAuthority]

I think this one has been hodling a little too long.

[JorgeStolfi]

We don't need exchanges, we don't even need fiat for this. Only the fabric of the BTC network grow bigger and businesses like overstock come aboard. Then Huobi, MtGox, Kraken and so forth, will have nothing to do with BTC price equity.

I agree with your criticism of exchanges.

However, even if cryptocurrencies succeed, traditional currencies ("fiat") will be around for many decades. Governments will pay salaries, pensions, contracts, treasury bonds with fiat, and will collect taxes in fiat. In some countries (as in China now) merchants must quote prices exclusively in fiat.

While fiat exists, exchanges will be needed so that people who are not financial tycoons can convert fiat money into crypto money and vice-versa.

At first, the BTC/USD rate will be set by speculation on the exchanges, and that rate will determine BTC's purchasing power for goods and services.

If and when commerce shifts substantially to drect cryptocoin payments, things may reverse: the market of real goods and services will eventually define the purchasing power of cryptocoins, and that will determine the fiat/crypto rate at the exchanges.

 

[adamstgBit]

THIS IS OUR HISTORY

Fight the good fight, join the revolution today!

 

[macsga]

We don't need exchanges, we don't even need fiat for this. Only the fabric of the BTC network grow bigger and businesses like overstock come aboard. Then Huobi, MtGox, Kraken and so forth, will have nothing to do with BTC price equity.

I agree with your criticism of exchanges.

However, even if cryptocurrencies succeed, traditional currencies ("fiat") will be around for many decades. Governments will pay salaries, pensions, contracts, treasury bonds with fiat, and will collect taxes in fiat. In some countries (as in China now) merchants must quote prices exclusively in fiat.

While fiat exists, exchanges will be needed so that people who are not financial tycoons can convert fiat money into crypto money and vice-versa.

At first, the BTC/USD rate will be set by speculation on the exchanges, and that rate will determine BTC's purchasing power for goods and services.

If and when commerce shifts substantially to drect cryptocoin payments, things may reverse: the market of real goods and services will eventually define the purchasing power of cryptocoins, and that will determine the fiat/crypto rate at the exchanges.

+1
Exactly! I find this to be a pretty accurate prediction. We must wait and see -with all that $ inflation around- what will happen to the "store of value" of fiat. We will eventually come to a point that NO ONE will want to give his btc for fiat (I came to this point since sometime 2012). Chances are you will be able to buy almost everything via BTC, so what's gonna be the point? The other cryptocurrencies will follow the same route.

WTF did I just say? Will I be able to buy a Lambo with my 100k Dogecoins?
Much wow, such goat!

[QuestionAuthority]

THIS IS OUR HISTORY

Fight the good fight, join the revolution today!

 

That's the history for you whiteys.

[medialab101]

Bitcoin keeps waking me up in the middle of the night. What's it doing? What's going on? I'll just check the price on my phone. Oh, and now that I'm up I may as well check the wall and a few graphs... Oh, now I want to stay up and see if there is a price spike at 5:00 AM like has been happening lately... Who needs sleep...

[molecular]

Bitcoin keeps waking me up in the middle of the night. What's it doing? What's going on? I'll just check the price on my phone. Oh, and now that I'm up I may as well check the wall and a few graphs... Oh, now I want to stay up and see if there is a price spike at 5:00 AM like has been happening lately... Who needs sleep...

you should really turn off that volatility alert or what you have there. Sleep is important. Maybe put some stop-loss or use some bot so you don't need to be awoken by some bag of rice falling over in China?

[adamstgBit]

Bitcoin keeps waking me up in the middle of the night. What's it doing? What's going on? I'll just check the price on my phone. Oh, and now that I'm up I may as well check the wall and a few graphs... Oh, now I want to stay up and see if there is a price spike at 5:00 AM like has been happening lately... Who needs sleep...

sleep is extremely important

you really need to watch yourself and not worry about price at 3:00am.

trust me, Many poeple have crossed the thin line into insanity due to obsession over bitcoin price movements ( i am one of them )

[ChartBuddy]

Explanation

[macsga]

Bitcoin keeps waking me up in the middle of the night. What's it doing? What's going on? I'll just check the price on my phone. Oh, and now that I'm up I may as well check the wall and a few graphs... Oh, now I want to stay up and see if there is a price spike at 5:00 AM like has been happening lately... Who needs sleep...

sleep is extremely important

you really need to watch yourself and not worry about price at 3:00am.

trust me, Many poeple have crossed the thin line into insanity due to obsession over bitcoin price movements ( i am one of them )

Not if you

HODL!!!!!1
You're sleeping like a baby!!!

[medialab101]

Bitcoin keeps waking me up in the middle of the night. What's it doing? What's going on? I'll just check the price on my phone. Oh, and now that I'm up I may as well check the wall and a few graphs... Oh, now I want to stay up and see if there is a price spike at 5:00 AM like has been happening lately... Who needs sleep...

sleep is extremely important

you really need to watch yourself and not worry about price at 3:00am.

trust me, Many poeple have crossed the thin line into insanity due to obsession over bitcoin price movements ( i am one of them )

Thanks, going to crash for a few more hours. Plenty of time to obsess over BC later in the day.

[JorgeStolfi]

Who needs sleep...

Huobi traders, humans or robots, seem to have gone to bed: hourly volume is down by 90% or more.  As happens almost every day at this time (small morning hours in local time).