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

[findftp]

http://www.fincen.gov/news_room/nr/pdf/20150127.pdf

FinCEN Fines Oppenheimer & Co. Inc. $20 Million for Continued Anti-Money Laundering Shortfalls

Suspicious Penny Stock trading and Pump-and-Dump Schemes Not Flagged
and Foreign Correspondent Customer Allowed to Conduct Prohibited Activity
....

From 2008 through May 2014, Oppenheimer conducted business without establishing and
implementing adequate policies, procedures, and internal controls reasonably designed to detect
and report suspicious activity. FinCEN identified 16 customers who engaged in patterns of
suspicious trading through branch offices in five states. All the suspicious activity involved
penny stocks, which typically are low-priced, thinly traded, and highly speculative securities that
can be vulnerable to manipulation by stock promoters and “pump-and-dump” schemes.
Oppenheimer failed to report patterns of activity in which customers deposited large blocks of
unregistered or illiquid penny stocks, moved large volumes of penny stocks among accounts with
no apparent purpose, or immediately liquidated those securities and wired the proceeds out of the
account.
...

Do you think bitcoin exchanges are properly monitoring and reporting such activities?

^ This will be the end of bitcoin altcoins.

fixed it for you

[findftp]

LOCALBITCOINS HACKED.
DO NOT DOWNLOAD ANYTHING THE SUPPORT SENDS YOU.
https://localbitcoins.com/forums/#!/
Personally never used that shite site, but if you do, don't get fucked.

Those digital tokens must be very worthless.
I see way to many people not taking care of them precious

[macsga]

Why aren't the Greeks and Russians buying?

Can't say anything for Greeks, but Russians are buying USD, because RUB is being inflated much faster than USD, so the majority of the people don't notice any USD inflation.

Greeks don't have any money to buy. Some of us have some BTCs though 

[JorgeStolfi]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).  

[cmacwiz]

chart buddy is rapidly evolving

[psjw4450]

California is saying that the Coinbase exchange isn't regulated or licensed in their state even though they claim to be.  

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

[bobboooiie]

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

fucking coinbase. they dont even have a 1/3 of states

[findftp]

I still don't know what caused the mini-bubble that started on 2014-05-20

Maybe I know what did. Key resistance point on a long term trend line in a chart other than BTC/USD (or any other FIAT).
Would like to share, but the image is on another computer at the moment.
I'm pretty sure it was caused by pure technical analysis because the line has some other very interesting cross points as well.

[inca]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).  

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars. If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

[DaRude]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).  

Chinese exchanges are consistently lower than western. That tells me that China is cashing out and is arbed to west. When you see Hooboy's price higher than stamp thats when China would be leading the uptrend

[TankHankerous]

Before bitcoin can sustain any real value the general population need to not necessarily understand how bitcoin works but more importantly how to secure them.  A user friendly interface for using bitcoin would definitely help mass adoption also.  

[pinky]

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

fucking coinbase. they dont even have a 1/3 of states

Dammit, I guess we can now continue with downtrend.  

[kodtycoon]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).  

Chinese exchanges are consistently lower than western. That tells me that China is cashing out and is arbed to west. When you see Hooboy's price higher than stamp thats when China would be leading the uptrend

oh look a single sell on bitstamp... a good few sells on bitfinex.. yet chinese exchanges plow higher..

q buying spree on bitstamp and finex in 3 2 ...

[greenlion]

Why aren't the Greeks and Russians buying?

Can't say anything for Greeks, but Russians are buying USD, because RUB is being inflated much faster than USD, so the majority of the people don't notice any USD inflation.

I'm skeptical of any capital flight pump theories (including Cypress 2013), because lacking robust Bitcoin remittance flows entering the country, if for example a Russian had a way already to put USD or euro on an exchange in the first place, the Russian has already solved his capital controls problem prior to even purchasing Bitcoin. Also in the case of stringent capital controls in these scenarios, I have a hard time seeing what mechanism will arbitrage that local price action into a rising price on the exchanges. Cypress is understandable as a eurozone nation, but ostensibly the buys would've happened after the haircuts already transpired, and what would the supposed Russian oligarchs purchase Bitcoin in Cypress instead of freely converting USD accounts within the eurozone (ostensibly there may be frictions here of which I'm not aware).

[NotLambchop]

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

fucking coinbase. they dont even have a 1/3 of states

Dammit, I guess we can now continue with downtrend.  

The first exchange to pwn Bitcoiners before it's even open

[JorgeStolfi]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars.

Is that a confirmed fact, or a deduction based on the order book?  If the latter, it does not mean anything: arbitragers pull in orders from all the other exchanges (including those that are not carried by any chart site).  A large buy would also bring in some of the coins that are sitting in off-exchange wallets, or in the traders' accounts but not in the order book.

If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

The empirical observation above accounts for the money that is actually available, ie. that Western traders will pour into the market in response to positive rumors.  Of course it depends on how positive are the rumors.

As for conjectures: with enough money, the price could rise to the moon of Pluto (and, with enough BTC, it could drop to single digits).

[bassclef]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).  

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars. If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

Whales would never do this as it would benefit us and not them. What they do is scare the price around, stop hunt, pull in the unskilled traders' money and use the increased volatility/liquidity to take positions. The fake pump to $272 earlier with those upthrust/distribution candles on unusually high volume is a good example. (Thar she blows!) That tells me we are going down before going up.

[podyx]

http://www.coindesk.com/california-regulator-coinbase-exchange-regulated-licensed/

fucking coinbase. they dont even have a 1/3 of states

What does this mean? That it was just a joke or what?

[elkrisi]

The astronaut here cannot possibly be hurt as his suit can well protect him from electric shocks.
Important to understand the risks...

[damiano]

The recent "flash-bubble" created by the Coinbase announcement shows that the "West" can lift the price by at least +50 dollars (~250 to ~300) with suitable rumors.

I am assuming that the Chinese did not pay attention to the rumor, as they have not paid attention to other similar news in the past.  I am also assuming that the gentler upward trend that started around 2015-01-15 comes from China,  not from the "West"

I still don't know what caused the mini-bubble that started on 2014-05-20.  If it was created in the West, too, then it would imply that the "West" can pump the price by +200 $/BTC (modulo the possibility that the increment may depend on the starting price level).  

You are aware that a single 3.5 million dollar market order on bitfinex takes the price up to 470 dollars. If big money wants the price to rise, it rises, or falls or whatever they want, and for tiny amounts of cash in wall street terms. There is a limit to what can be shorted (available btc for lending) on Western exchanges, but a single motivated individual (say Tim Draper) could at any moment drive up the price and keep it there.

Imagine if the price was pumped to 400 by a big buy and then a 50 million dollar bid support wall appeared on coinbase.

Whales would never do this as it would benefit us and not them. What they do is scare the price around, stop hunt, pull in the unskilled traders' money and use the increased volatility to take positions. The fake pump to $272 earlier with those upthrust/distribution candles on unusually high volume is a good example. (Thar she blows!) That tells me we are going down before going up.

How low do you think we're headed?