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

[ChartBuddy]

Coin
Explanation

[Elwar]

The main driver for bitcoin prices seem to be Greek buyers.  Joshua Scigala, co-founder of Vaultoro.com, told Reuters this week that his company has seen a 124 per cent pick up in web hits from Greek IP addresses.
http://business.financialpost.com/investing/bitcoin-is-the-real-winner-in-greece-crisis

Vaultoro sells gold for bitcoin.  Perhaps those hits were just Greek googling for "gold".

The recent price rise may not be due to Greeks buying bitcoin, but rather to non-Greeek traders buying bitcoins because they expect the Greek to buy.

Someone noted that it started as soon as negotiations collapsed and Tsipras announced the referendum.  Wasn't that too soon?  It would take time for the Greeks to open accounts at Bitstamp or Coinbase, send their money there, etc..

It was the same with Cyprus. The price jumped when Cyprus froze peoples' bank accounts but it was not people in Cyprus buying bitcoins (it was noted that there was little to no activity with Bitcoin in the country at the time) but it put a spotlight on the fact that a country could possibly freeze bank accounts and that with Bitcoin you can't do that. Greece collapsing just highlights the vulnerabilities of fiat currency which will certainly give Bitcoin a boost.

There could certainly be speculation that Greece would adopt Bitcoin which will push the price upwards but it is not a realistic expectation.

[nakaone]

according to bbc the ecb really stops giving fiat to the greece

mayhem

[macsga]

according to bbc the ecb really stops giving fiat to the greece

mayhem

Monday morning in Japan in 12hrs... tick tock - tick tock...

[ChartBuddy]

Coin
Explanation

[Fatman3001]

according to bbc the ecb really stops giving fiat to the greece

mayhem

Monday morning in Japan in 12hrs... tick tock - tick tock...

How are you doing in all of this Macsga? Are people uneasy where you live?

[inca]

according to bbc the ecb really stops giving fiat to the greece

mayhem

Monday morning in Japan in 12hrs... tick tock - tick tock...

How are you doing in all of this Macsga? Are people uneasy where you live?

Macsga I hope all is well. I return to Greece in July.

[ChartBuddy]

Coin
Explanation

[macsga]

according to bbc the ecb really stops giving fiat to the greece

mayhem

Monday morning in Japan in 12hrs... tick tock - tick tock...

How are you doing in all of this Macsga? Are people uneasy where you live?

Macsga I hope all is well. I return to Greece in July.

Everything is fine. Greece has been wonderful and will be wonderful with or without Euro. Gimme a call when you're here!

[Fatman3001]

according to bbc the ecb really stops giving fiat to the greece

mayhem

Monday morning in Japan in 12hrs... tick tock - tick tock...

How are you doing in all of this Macsga? Are people uneasy where you live?

Macsga I hope all is well. I return to Greece in July.

Everything is fine. Greece has been wonderful and will be wonderful with or without Euro. Gimme a call when you're here!

Good to hear!

[rememberme]

Are we gonna dip? 

[LFC_Bitcoin]

Are we gonna dip? 

Hopefully not! I'd like to see a push up to around 260. 250 seems to be a sticking point in recent weeks/months, we seem to get there & not be able to stay above. I'm not sure what to expect in the short term. I'm unsure if Greece is playing a part in the recent mini pump but I kind of want them to default so we can get a decent price rise. At the very least staying above 250 would be nice.

[poncho32]

Are we gonna dip? 

The stress test tomorrow might make us dip. They didn't have enough servers to run it properly last Monday and abandoned it after spending a few Bitcoins on transaction fees. They say they will be using more servers tomorrow which will let them do the full stress test.

[rememberme]

i think we bounce off 235 

[ChartBuddy]

Coin
Explanation

[cyclotronmajesty]

I think we're gonna stall here again and repeat history... Nobody wants to loose money again. What comes next could be a 260 but that'd take a new event... this one is almost over.

Yet it doesn't look like a whole lot of resistance in the 250s yet except A ~1000 coin wall at 250.5

[coinpr0n]

Are we gonna dip?  

The stress test tomorrow might make us dip. They didn't have enough servers to run it properly last Monday and abandoned it after spending a few Bitcoins on transaction fees. They say they will be using more servers tomorrow which will let them do the full stress test.

Again, huh? I guess that's a sign a to send any transactions before the test. Last time the transaction mempool got pretty big and it took transactions quite some time to confirm.

[rememberme]

Here we go...

[Miz4r]

Are we gonna dip? 

The stress test tomorrow might make us dip. They didn't have enough servers to run it properly last Monday and abandoned it after spending a few Bitcoins on transaction fees. They say they will be using more servers tomorrow which will let them do the full stress test.

Again, huh? I guess that's a sign a to send any transactions before the test. Last time the transaction mempool got pretty big and it took transactions quite some time to confirm.

Or just use a small fee, 0.0001 BTC should be enough for your transaction to go through pretty quickly.

[cyclotronmajesty]

I'm surprised there was not a flurry of buys, this was a pretty steady increase. Recall this happened last time at 230s and then afterwards there was a flurry of buys up to 254 or so, from about 238.

I'm kinda still waiting for the big fireworks.