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

[1FfmbHfnpaZjKFvyi1okTjJJu]

http://www.coindesk.com/bot-named-willy-did-mt-goxs-automated-trading-pump-bitcoin-price/

Hm... ok I don't see how that even incriminates them. I'd suspect people are running trading bots all over the place.

Trusting exchanges

Once again, dark clouds have gathered, not around the bitcoin network itself but around the centralized gateways guarding the on- and off-ramps between it and the legacy financial system.

Such businesses have operated mostly off the block chain and are inherently trust-based, functioning effectively as unofficial and uninsured banks. With developers and executives from the technology world rather than the financial, they have been accused of everything from incompetence to malice before their funds simply vanish – often along with the businesses' owners.

A trustless crypto-based payment system still relies heavily on trusted supports. More often than not, these 'trusted supports' are unregulated, hence they attract unscrupulous traders and speculators.

Those in the pro-regulation camp point to the inherent weakness of unregulated exchanges as one of the biggest problems facing bitcoin, but regulation remains a controversial topic in the bitcoin community and there is no clear consensus on what should or could be done to stamp out abuse.

[cyclotronmajesty]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

[oxiyusuf]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

invest using Bitcoin requires thinking and good strategy,
if only to try and expect good luck, of course, you will lose a lot of bitcoin

[1FfmbHfnpaZjKFvyi1okTjJJu]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

you buy in wrong time, what your goal ? long term or short term ?

yesterday i buy bitcoin in 244$ and if price up to 250 i will sell it, after it if price down under 245 i will buy back

iam a trader short term not long my priority is $ not bitcoin

[Morecoin Freeman]

Crashing.

[1FfmbHfnpaZjKFvyi1okTjJJu]

Crashing.

time to corection price crasing and up again 

[cyclotronmajesty]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

you buy in wrong time, what your goal ? long term or short term ?

yesterday i buy bitcoin in 244$ and if price up to 250 i will sell it, after it if price down under 245 i will buy back

iam a trader short term not long my priority is $ not bitcoin

Yea I bought yesterday at 244.7 after figuring I should quit since buying it at 256. Now it's at 242.~ 

it's not me expecting good luck it's me just expecting something OTHER than bad luck. Too much to expect!

[ChartBuddy]

Coin
Explanation

[Habeler876]

You think Mt. Gox is solely responsible for the ~ 1200$ price tag? That's interesting. Has anyone explained how? If so then Bitcoin's collapse is also due to Mt. Gox as well as bears and the bear market.

Willey bot.

What is Willey bot? Something Mt. Gox used to inflate the price?

People claim that the Willy Bot (an account backed by no real assets) was used to continually push the price up on MT Gox, and therefore, that it caused the bubble. I think that's crazy talk. The demand was clearly there, and the market was much bigger than Gox -- even at that time.

[ChartBuddy]

Coin
Explanation

[cyclotronmajesty]

http://www.infowars.com/total-emergency-alert-elite-now-evacuating/

This may explain the recent sky rocket in price, and may suggest a further price increase in due time.
Economic instability is good for Bitcoin.

[Chef Ramsay]

just follow LTC. this thing is gonna moon.

will become incredible, imaging this coin falling from 3x.xx dollar to 1.xx, so it can also from 1.xx up to 3x.xx. gonna be crazy.

Nice thought and while I was thinking this was imminent, I took profits today. However, it still could go moon before I could go back in. I can only be awake for so long. Earning profits is the big game but going long to the moon is for the experts.

[Chef Ramsay]

just follow LTC. this thing is gonna moon.

it is just a pump because of the incoming halving. wait some weeks and see it struggling to be above $1.

LTC won't cause BTC to go up

Yeah, it's possible that the glory has run has run its course at this point. I'm always looking highly on litecoin but much profit has occurred at this point. Do we try for more?

[Chef Ramsay]

http://www.infowars.com/total-emergency-alert-elite-now-evacuating/

This may explain the recent sky rocket in price, and may suggest a further price increase in due time.
Economic instability is good for Bitcoin.

Dude, the rally in btc and ltc is over and the profits in both could have happened at this point. Not sure what will happen next but it's anyone's guess. There may be an upside, idk. Place your bets.

[ChartBuddy]

Coin
Explanation

[JorgeStolfi]

What is Willey bot? Something Mt. Gox used to inflate the price?

People claim that the Willy Bot (an account backed by no real assets) was used to continually push the price up on MT Gox, and therefore, that it caused the bubble. I think that's crazy talk. The demand was clearly there, and the market was much bigger than Gox -- even at that time.

I haven't looked very closely at the latest reports, but my conclusions so far are

(1) one cannot understand what happened in MtGOX by analyzing only the data that is available from the database leak -- which, according to the Japanese Police, appears to have been doctored. One would need also, at a minimum, actual withdrawal and deposit records.  The Japanese Police surely has those for fiat; it is not clear whether they have data for BTC too.

(2) my guess as to Willy is that it was doing (probably fraudulent) arbitrage: buying bitcoins from MtGOX clients to in order to sell them in China.  The money that Willy used was probably inexistent -- essentially, unbacked credit provided by MtGOX.  Perhaps the bitcoins had been sold in China or elsewhere earlier, and Willy's purpose only to cover up the embezzlement/theft by turning the missing bitcoins into missing fiat.  Perhaps Willy's owner expected to get the money later somehow.  Who knows. 

(3) But, in any case, Willy does not seem to have been responsible for the Nov/2013 bubble.  Comparison of prices across exchanges shows that the prices in China were higher than in the West (even higher than MtGOX) during the rally, and lower during the Dec/2013 crash; which suggests that the Chinese exchanges were pulling, and the Western ones were lagging behind.

[AceWallen]

What is Willey bot? Something Mt. Gox used to inflate the price?

People claim that the Willy Bot (an account backed by no real assets) was used to continually push the price up on MT Gox, and therefore, that it caused the bubble. I think that's crazy talk. The demand was clearly there, and the market was much bigger than Gox -- even at that time.

I haven't looked very closely at the latest reports, but my conclusions so far are

(1) one cannot understand what happened in MtGOX by analyzing only the data that is available from the database leak -- which, according to the Japanese Police, appears to have been doctored. One would need also, at a minimum, actual withdrawal and deposit records.  The Japanese Police surely has those for fiat; it is not clear whether they have data for BTC too.

(2) my guess as to Willy is that it was doing (probably fraudulent) arbitrage: buying bitcoins from MtGOX clients to in order to sell them in China.  The money that Willy used was probably inexistent -- essentially, unbacked credit provided by MtGOX.  Perhaps the bitcoins had been sold in China or elsewhere earlier, and Willy's purpose only to cover up the embezzlement/theft by turning the missing bitcoins into missing fiat.  Perhaps Willy's owner expected to get the money later somehow.  Who knows. 

(3) But, in any case, Willy does not seem to have been responsible for the Nov/2013 bubble.  Comparison of prices across exchanges shows that the prices in China were higher than in the West (even higher than MtGOX) during the rally, and lower during the Dec/2013 crash; which suggests that the Chinese exchanges were pulling, and the Western ones were lagging behind.

excellent summation, and fully agreed. anyone who was around at that time should know that China was calling the shots during the November 2013 bubble.

[ChartBuddy]

Coin
Explanation

[Fatman3001]

Bullish!

                                 YES




   







                           



                                                               Success!

[Bitcoiner2015]

 

It doesn't look crazy bullish, I don't really get all the gifs though!  Yes/no.
Wake me up when we get to $300.