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

[seleme]

Blitz is so desperate to rebuy 

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[N12]

Since all action is following Huobi

If that is true, it would be indicative that their volume is real and they have just replaced BTCChina. Have you been watching it?

[N12]

Yes, because BTCChina has had a leading function, too. If Huobi is a reliable leading indicator for other exchanges, then it is probably real, but I haven't watched Huobi much in the past so I can't say.

[seleme]

FBI would not be selling if they did not have buyers in ready "Loaded".  

If this is the case it's a great sign as someone with $20 mil wants coins

FBI selling their coins is bearish only for trolls 

[virtualfaqs]

What is up with the sell off?  It is not like the FBI is auctioning off the coins tomorrow.  

Plus there is some really good news out there today too with a major sports team taking BTC.

Sometimes I just don't get it.  Actually, I NEVER get it.

Yes, but they announced it. So now the price will reflect post-sale.

Also new merchant is meh. They don't accept BTC as a currency. They only accept BTC as business. Yea it's good for BTC in general, but not good for the price.

Hmm.  I remember after the silk-road shut down announcement in Oct. there was a panic sell but then we proceeded to go on a run to the last ATH after that in November.  So maybe this little panic sell off is a good sign?

Well, I'm hoping for a huge panic sell off. :/ But looking at the new merchants accepting BTC, it looks like a mess dealing with refunds. Coinbase & Bitpay take no responsibility for BTC volatility and it's up to the merchant to figure it out themselves. I sense a lot of complaints in the future.

[arklan]

For the first time in my Btc history, I bought some instead of mining.... Merely 0.2 via virwox... Bought last night... For $200, After all fees.

Screw you all for crashing just after! :-D

[adamstgBit]

FBI would not be selling if they did not have buyers in ready "Loaded".  

If this is the case it's a great sign as someone with $20 mil wants coins

i think they should split it up a bit on 20 paper wallets and auction them off.

[deadfi$h]

Since all action is following Huobi, and Huobi is sitting on the 38.2% fib support, I think a small bounce would be in order before a retest and breakout, if downside breakout is coming.

How small of a bounce are you thinking? 4925ish?

[N12]

But looking at the new merchants accepting BTC, it looks like a mess dealing with refunds. Coinbase & Bitpay take no responsibility for BTC volatility and it's up to the merchant to figure it out themselves. I sense a lot of complaints in the future.

Could you elaborate or point me towards resources? I always thought they guarantee the merchants the USD value of their products, and that they take on the currency risk is the entire point of using them. Is that not true?

edit: Never mind, I see it's about refunds. Well, why would a customer expect the Bitcoin nominal value back? The product is denominated in dirty fiat money, not Bitcoins.

[Adrian-x]

This thread is the P2P equivalent of the FED modeling the expansion and contraction of the money supply in real time.

It’s still my go-to for a warm fuzzy, LOL.  The fate of those coins is at least 2 months away, until I am wrong. 

[ChartBuddy]

Explanation

[dgarcia]

Yes, because BTCChina has had a leading function, too. If Huobi is a reliable leading indicator for other exchanges, then it is probably real, but I haven't watched Huobi much in the past so I can't say.

Gox/Stamp/BTC-E are following Huobi almost always. Sometimes another Exchange is triggering, but Huobi seems to be the boss all over.

[MAbtc]

Since all action is following Huobi, and Huobi is sitting on the 38.2% fib support, I think a small bounce would be in order before a retest and breakout, if downside breakout is coming.

How small of a bounce are you thinking? 4925ish?

5100 is the next fib resistance and ~ intersects with the post-ATH consolidation's moving support. So I wouldn't want to see that broken to the upside. 5000 was the top of the last push, maybe there.

[Nightowlace]

What is up with the sell off?  It is not like the FBI is auctioning off the coins tomorrow.  

Plus there is some really good news out there today too with a major sports team taking BTC.

Sometimes I just don't get it.  Actually, I NEVER get it.

Yes, but they announced it. So now the price will reflect post-sale.

Also new merchant is meh. They don't accept BTC as a currency. They only accept BTC as business. Yea it's good for BTC in general, but not good for the price.

Hmm.  I remember after the silk-road shut down announcement in Oct. there was a panic sell but then we proceeded to go on a run to the last ATH after that in November.  So maybe this little panic sell off is a good sign?

Well, I'm hoping for a huge panic sell off. :/ But looking at the new merchants accepting BTC, it looks like a mess dealing with refunds. Coinbase & Bitpay take no responsibility for BTC volatility and it's up to the merchant to figure it out themselves. I sense a lot of complaints in the future.

It's not complicated. It will be handled like this;
Do you agree to pay Overstock.com $100
You click yes you are agreeing to pay them $100 and your payment method is bitcoin
Your $100 will be refunded via bitcoin, whether that equals 1B or 0.1B
Bitcoin is not the currency but rather the method of transferring funds

[virtualfaqs]

What is up with the sell off?  It is not like the FBI is auctioning off the coins tomorrow.  

Plus there is some really good news out there today too with a major sports team taking BTC.

Sometimes I just don't get it.  Actually, I NEVER get it.

Yes, but they announced it. So now the price will reflect post-sale.

Also new merchant is meh. They don't accept BTC as a currency. They only accept BTC as business. Yea it's good for BTC in general, but not good for the price.

Hmm.  I remember after the silk-road shut down announcement in Oct. there was a panic sell but then we proceeded to go on a run to the last ATH after that in November.  So maybe this little panic sell off is a good sign?

Well, I'm hoping for a huge panic sell off. :/ But looking at the new merchants accepting BTC, it looks like a mess dealing with refunds. Coinbase & Bitpay take no responsibility for BTC volatility and it's up to the merchant to figure it out themselves. I sense a lot of complaints in the future.

It's not complicated. It will be handled like this;
Do you agree to pay Overstock.com $100
You click yes you are agreeing to pay them $100 and your payment method is bitcoin
Your $100 will be refunded via bitcoin, whether that equals 1B or 0.1B
Bitcoin is not the currency but rather the method of transferring funds

What if that's 10B and you only paid 1B? Do you see the problem now?

[deadfi$h]

Since all action is following Huobi, and Huobi is sitting on the 38.2% fib support, I think a small bounce would be in order before a retest and breakout, if downside breakout is coming.

How small of a bounce are you thinking? 4925ish?

5100 is the next fib resistance and ~ intersects with the post-ATH consolidation's moving support. So I wouldn't want to see that broken to the upside. 5000 was the top of the last push, maybe there.

You may be right. Staying below the previous support in the 4950s would be a much more bearish scenario though.

That would be my preference since I have a small short position open  

[shmadz]

The only thing that worries me is the possibility of a straight shot to the moon.

It is the most frightening thing that exists. It keeps 90% of my coins off the exchange.

I'm showing moderate growth in my exchange account, but not enough to merit the risk of being light on bitcoin when this thing erupts...

[shmadz]

Here is an obscenely bullish desktop wallpaper (for usage as pr0n substitute), concentrating at this multiple times a day for 2 minutes each time will release endorphins and convert every bear into a bull after long enough exposure. I have made it 1024*768 for old laptops, I can make higher resolutions too. 

this is cool, but can you make a negative of that? I prefer a dark background. Thanks.

[Walsoraj]

Megawhale plan:

1) Crash price by selling tens of thousands of coins on exchanges

2) Lowball offer to FBI

3) Profit

 

[N12]

What is up with the sell off?  It is not like the FBI is auctioning off the coins tomorrow.  

Plus there is some really good news out there today too with a major sports team taking BTC.

Sometimes I just don't get it.  Actually, I NEVER get it.

Yes, but they announced it. So now the price will reflect post-sale.

Also new merchant is meh. They don't accept BTC as a currency. They only accept BTC as business. Yea it's good for BTC in general, but not good for the price.

Hmm.  I remember after the silk-road shut down announcement in Oct. there was a panic sell but then we proceeded to go on a run to the last ATH after that in November.  So maybe this little panic sell off is a good sign?

Well, I'm hoping for a huge panic sell off. :/ But looking at the new merchants accepting BTC, it looks like a mess dealing with refunds. Coinbase & Bitpay take no responsibility for BTC volatility and it's up to the merchant to figure it out themselves. I sense a lot of complaints in the future.

It's not complicated. It will be handled like this;
Do you agree to pay Overstock.com $100
You click yes you are agreeing to pay them $100 and your payment method is bitcoin
Your $100 will be refunded via bitcoin, whether that equals 1B or 0.1B
Bitcoin is not the currency but rather the method of transferring funds

What if that's 10B and you only paid 1B? Do you see the problem now?

I don't see a problem. They were paid in USD, so they can purchase the appropriate amount of Bitcoin without any problem. Where do you see a problem?