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Question: How would you classify yourself right now? (credit: VB1001)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21451629 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (135 posts by 29 users deleted.)
JorgeStolfi
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February 10, 2014, 08:29:27 AM
 #85301

Preparing for an epic dip. No word from Mt Gox and they promised update today JST.

I suspect that the news from MtGOX will be bad for those trapped there, but in any case there should be no immediate impact on price at other exchanges.  Most traders must have been aware of their problems for weeks, and are not affected by them.

Even a complete collapse of MtGOX should affect the price only in the longer term, after it is featured on mainstream media and scares some potential investors away from Bitcoin.
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OldGeek
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February 10, 2014, 08:37:27 AM
 #85302

Even a complete collapse of MtGOX should affect the price only in the longer term, ...

Perhaps.  However one shouldn't count out the potential for manipulators to drive the price down short term.  I doubt it would last for long, and the weaker hands will no doubt bail out quickest, so it may be a blessing in disguise.
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February 10, 2014, 08:38:41 AM
 #85303

Even a complete collapse of MtGOX should affect the price only in the longer term, ...

Perhaps.  However one shouldn't count out the potential for manipulators to drive the price down short term.  I doubt it would last for long, and the weaker hands will no doubt bail out quickest, so it may be a blessing in disguise.

fully agree. anticipating a quick but noticeable dip = cheap coins.
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February 10, 2014, 08:43:44 AM
 #85304

The steady "exceptional" background traffic at MtGOX, that started around 12:00 Feb/7 UTC, seems to be a stream of transactions for 60-70 BTC, about one every 5 minutes or so That is about 700 BTC/hour, 16 kBTC/day.  They seem to occur at the low end of the spread.
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February 10, 2014, 08:48:14 AM
 #85305

fully agree. anticipating a quick but noticeable dip = cheap coins.

Yes.  The problem being the timing of the purchase.  Do you wait until you 'think' the bottom is in?  Or do you speculate that it has fallen enough for your tastes?  It seems that noticeable dips are most noticeable in hindsight.
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February 10, 2014, 08:51:21 AM
 #85306

The steady "exceptional" background traffic at MtGOX, that started around 12:00 Feb/7 UTC, seems to be a stream of transactions for 60-70 BTC, about one every 5 minutes or so That is about 700 BTC/hour, 16 kBTC/day.  They seem to occur at the low end of the spread.

Would you care speculate on the purpose of these transactions?

BTW, I do appreciate your posts.
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February 10, 2014, 08:53:22 AM
 #85307

PS. Is that stream of 60 BTC sells that is pushing MtGOX's price down?  (I cannot check it because the bitcoinwisdom chart for MtGOX is updatings very slowly and shows only a few transactions in the log.)
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February 10, 2014, 08:56:13 AM
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Would you care speculate on the purpose of these transactions?

Thanks... I dont' know, maybe someone is trying to dump some 20-30 kBTC at any price?
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February 10, 2014, 08:59:31 AM
 #85309

there it goes!
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February 10, 2014, 09:01:30 AM
 #85310

Yup.  475 coins gone in a flash.
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February 10, 2014, 09:02:26 AM
 #85311


Explanation
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February 10, 2014, 09:06:52 AM
 #85312

PS. Is that stream of 60 BTC sells that is pushing MtGOX's price down?  (I cannot check it because the bitcoinwisdom chart for MtGOX is updatings very slowly and shows only a few transactions in the log.)

Go here, Jorge:  http://bitcoincharts.com/charts/mtgoxUSD#rg2ztgSzm1g10zm2g25zv

Just below the chart is a link that says 'load raw data'.  If you select the time period you are interested in, it will give you a detailed listing that is suitable for loading into excel.
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February 10, 2014, 09:14:24 AM
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Thanks! (But it gives only the minute-by minute summary, which merges several transactions into each entry.  A transaction by transaction log would be easier to read...)

I hope someone is saving the transaction logs of all exchanges.  It should be a gold mine for bitcoin historians and statistical market research or all kinds...
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February 10, 2014, 09:14:56 AM
 #85314

People are pre-panic selling because there might be panic selling.
Everytime when you think it can't get more silly...
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February 10, 2014, 09:15:35 AM
 #85315

Gox is giving intermittent 502 bad gateway errors.
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February 10, 2014, 09:16:41 AM
 #85316

BTC-e is high when everyone is low, and low when everyone is high... So conservative Huh
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February 10, 2014, 09:18:46 AM
 #85317

The day almost past in Asia, so we almost see the death of Mt.Gox?
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February 10, 2014, 09:19:48 AM
 #85318

People are pre-panic selling because there might be panic selling.
Everytime when you think it can't get more silly...

Now they get to really panic.  MtSux is not responding.   Cheesy
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February 10, 2014, 09:22:01 AM
 #85319

Time left:

until midnight after February 10th JST
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February 10, 2014, 09:25:02 AM
 #85320

^^ time to panic sell yet? I am counting on it  Smiley
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