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Question: Next Bubble Top (resulting in a new ATH):
Will never reach a new ATH - 10 (8.1%)
$20,000-$49,999 - 26 (21%)
$50,000-$99,999 - 30 (24.2%)
$100,000-$149,999 - 23 (18.5%)
$150,000-$199,999 - 9 (7.3%)
$200,000-$249,999 - 7 (5.6%)
$250,000-$299,999 - 3 (2.4%)
$300,000-$350,000 - 1 (0.8%)
>$350,000 - 15 (12.1%)
Total Voters: 124

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21506519 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. (142 posts by 32 users deleted.)
Its About Sharing
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May 16, 2013, 10:42:22 PM
 #8841

I know this is all over the place, but try to digest this regarding the BTC price: http://libertyblitzkrieg.com/2013/05/16/peter-thiel-gets-the-bitcoin-bug/#more-5747

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BitPay claimed 1,900 new merchants signed up in April and it continues to sign up over 100 new customers every day. It is currently processing around $5m of Bitcoin transactions per month.

The scary part to consider is that first big company that takes on BTC. And then, after that, many other larger company will probably feel forced to go along, especially if there is a flow of new funds to supporters of these companies.
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May 16, 2013, 10:46:34 PM
 #8842

Both true. You also can't take 11M BTC as basis for this calculation, because I think the amount of traded BTC is far less. Eitherway, my point is: 300k isn't reachable without a really significant change in the global currency system and not something which is easily reachable, because some VCs invest huge amounts.

bitcoin hit over 1 million a coin last year.
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May 16, 2013, 10:49:04 PM
 #8843

price difference between Gox and other exchanges is still higher than usual.

No doubt there are excellent news today and further rises are to be expected due to the conference in the next 3 days.
But also I think the Gox price rise is driven by people clearing their fiat on Gox by buying BTCs and withdrawing them the f# out.

Thoughts?
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May 16, 2013, 10:51:12 PM
 #8844

price difference between Gox and other exchanges is still higher than usual.

No doubt there are excellent news today and further rises are to be expected due to the conference in the next 3 days.
But also I think the Gox price rise is driven by people clearing their fiat on Gox by buying BTCs and withdrawing them the f# out.

Thoughts?

That also means they are dumping on other exchanges to get their fiat back. So it's probably a little of both 
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May 16, 2013, 11:02:29 PM
 #8845

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May 16, 2013, 11:05:52 PM
 #8846



you see that!

buy now or forever hold worthless mtgox fiat coupons
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May 16, 2013, 11:09:02 PM
 #8847

It's pure Gox-comedy that this was ever possible in the first place  Cheesy ...
 "Until now you could just pretend you had money or coins and place orders ..."

Bitstamp (rightly) won't let you do this. I'd be surprised if there are many exchanges on which this was ever possible. OK ... you can list something on Ebay that you don't have, but that's a bit different ...

Amazingly my E-Trade account doesn't offer that feature either. ;-)
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May 16, 2013, 11:11:53 PM
 #8848

Well, fair is fair.  CNN.com did not throw Bitcoin under the bus.  Seems even aside from the attention grabbing headline, the piece is rather positive. 

http://money.cnn.com/2013/05/16/technology/bitcoin-mt-gox/index.html?iid=HP_LN
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May 16, 2013, 11:15:10 PM
Last edit: May 16, 2013, 11:25:43 PM by phoenix1
 #8849

price difference between Gox and other exchanges is still higher than usual.

No doubt there are excellent news today and further rises are to be expected due to the conference in the next 3 days.
But also I think the Gox price rise is driven by people clearing their fiat on Gox by buying BTCs and withdrawing them the f# out.

Thoughts?

Agree with the reasons for price differential. Remains to be seen how quickly the other exchanges can expand to cope with the increased volumes if business is truly moving away from Gox
Short term, IMO up more likely than down on Gox for the reasons you state. The 'real' price is probably the mid point between Gox and the rest and perhaps this is the best guage of sentiment.
As of now stable ... the differential is not so large as to imply any sort of panic.

EDIT : Some risk that this is artificially inflating the price in the short term
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May 16, 2013, 11:18:28 PM
 #8850

you see that!

buy now or forever hold worthless mtgox fiat coupons

All I can think of is how FullTilt, as they were having their accounts seized, kept on stating "don't worry your money is safe". No comments from mtgox on how much was seized is worrisome to say the least. I hope that they have the funds and or the backing to make all cash deposits whole. Do we know if mtgox has the funds in segregated accounts in a jurisdiction of which the US government cant touch?
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May 16, 2013, 11:20:23 PM
 #8851

$117.99
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May 16, 2013, 11:24:15 PM
 #8852

1.36M sitting on 120, i believe it was over 2M some hours ago.
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May 16, 2013, 11:29:17 PM
 #8853

Bitcoin: 1 DHS: 0

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May 16, 2013, 11:34:45 PM
 #8854

There's a correction coming.  Doubt we'll break through 120.
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May 16, 2013, 11:44:35 PM
 #8855

you see that!

buy now or forever hold worthless mtgox fiat coupons

All I can think of is how FullTilt, as they were having their accounts seized, kept on stating "don't worry your money is safe". No comments from mtgox on how much was seized is worrisome to say the least. I hope that they have the funds and or the backing to make all cash deposits whole. Do we know if mtgox has the funds in segregated accounts in a jurisdiction of which the US government cant touch?
LOL, ya, bitcoin
put that in your pipe and smoke it!
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May 16, 2013, 11:45:23 PM
 #8856

2408 @ 118, bye bye wall.
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May 16, 2013, 11:46:42 PM
 #8857


All I can think of is how FullTilt, as they were having their accounts seized, kept on stating "don't worry your money is safe". No comments from mtgox on how much was seized is worrisome to say the least. I hope that they have the funds and or the backing to make all cash deposits whole. Do we know if mtgox has the funds in segregated accounts in a jurisdiction of which the US government cant touch?

When the DOJ seized FTP and Stars it happened suddenly, all at once. That's why the event is called "Black Friday". There wasn't any telegraph in advance. Once the DOJ unsealed their case and obtained their warrants for seizure they simply collected everything of FTP's and left the building.

The fact that DHS only went after Gox's Dwolla account is very good in regards to there not being a total catastrophe.
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May 16, 2013, 11:47:01 PM
 #8858

resistance becomes support, 1K+ bid wall @ 118   Grin
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May 16, 2013, 11:48:02 PM
 #8859

Real question is when we test 125, which failed 3 times when the market was more bullish 1.5-2 weeks ago, will we break through?
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May 16, 2013, 11:49:43 PM
 #8860

resistance becomes support, 1K+ bid wall @ 118   Grin

Gotta love Bulls. The kind of guys you wanna hang out and drink with. Bears however...
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