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

[ChartBuddy]

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Explanation

[rebuilder]

No fiat hit bitstamp today

Based on orderbook? Or did I miss something?

[rebuilder]

webshites

Spending too much time here, Mr. Stolfi? The more unfortunate habits of the local fauna seem to be rubbing off on you...

[stereotype]

webshites

Spending too much time here, Mr. Stolfi? The more unfortunate habits of the local fauna seem to be rubbing off on you...

Tis the scourge of these threads. Those 'jaded' moments, gets to everyone who has spent too much time here, i think.
The trick is to know when one is speaking to oneself. 

[ChartBuddy]

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Explanation

[Fatman3001]

I love short sellers. Every short has to either cover and provide support or to get squeezed and spike into my sell orders.  We're seeing higher highs and higher lows on the daily chart, even if the moving averages look a little scary.  This fork controversy will get resolved eventually one way or another. Block size will be increased even with chain bloat because more and more of those "dust" transactions will be time stamps or colored coins representing title to something.  Processors are getting faster. Bandwidth is getting wider. Hard drives are getting bigger. It won't be an issue.

Meanwhile the fiat printers are printing, on-ramps for institutional investors are being built and the halving just gets closer.

You're gonna hold out that long?

These are day traders... make a few bucks and short attention spans. I'd be doing that too but I see too much potential. I'd rather hold calm for a 200$ trade instead of bust a sweat for a 20$ trade. And miss out on the way up. But there is quite a bit of opportunity... for some reason people are still seeming indecisive...

Either that or the Bitcoins are just being spent in retail.

It's the 3600 coin/day inflation that's putting the downward pressure on price. What's amazing is that there has been an average ~$1 million/day being pumped in to hold the price ever since the $166 bottom last winter.  Miners are selling all or almost all they mine. You gotta love the Chinese. On a macro level, they sell stuff at cost and then lend us the money to buy it. No way that can end well. I'm not just talking about bitcoin. All their exports. If you think about it, Chinese miners are using subsidized electricity so it's actually the Red Chinese government that are providing us all these cheap coins.  It's the only thing China actually sells that prolly won't be worthless in five years.

Do we have any proof of that? I'm really quite tired of seeing this assumption thrown around as fact...

Miners are a diverse group. Some sell straight away, some hodl. Some dump on exchanges, some have other arrangements with investors who wants to buy without slippage. In any event, the fact that the market can't digest <3600 coins a day without sliding down is not encouraging.

[ChartBuddy]

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Explanation

[cyclotronmajesty]

DAmn... just damn!




Even stranger is how it was only happening on one exchange: BTC-e the freak exchange of the internet.

Then when bitcoin dropped below 260... the stairway to heaven fell down.  

I dunno if that isn't manipulation I dunno what is.

[ChartBuddy]

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[ChartBuddy]

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[dreamspark]

DAmn... just damn!




Even stranger is how it was only happening on one exchange: BTC-e the freak exchange of the internet.

Then when bitcoin dropped below 260... the stairway to heaven fell down.  

I dunno if that isn't manipulation I dunno what is.

This is just what happens in low liquidity environments.

Big stop raids can also produce these kinds of spike when the liquidity isnt there.

This is why you dont often see such big percentage spike on other exchanges

[Erdogan]

Just a little story: You know running a node does not give you any block reward or fee, but as the market depends on psychical differences beween two choices, and the cost is low, some people run nodes anyway, and the reason is the psychical profit.

I had the opportunity to talk about bitcoin today, and I mentioned the number of nodes, the purpose of nodes, and that I run one of them.

- So you are one in 6000 of people running nodes?
- Yes.
- In the world?
- Yes.

Low profile bragging.

[ChartBuddy]

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[ChartBuddy]

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[JorgeStolfi]

I don't blame Coindesk for being silent on this one. They are advancing the cause of crypto currency

Riight... like Pravda was advancing the cause of communism... 

webšites

Spending too much time here, Mr. Stolfi? The more unfortunate habits of the local fauna seem to be rubbing off on you...

Hm, yes, I guess so... 

[Natalia_AnatolioPAMM]

No fiat hit bitstamp today Prepare for a week of shorters raping bulls. Liquidity has dropped by 50% on Bitstamp since the peak at $318 (3.3mill vs 1.58mill currently)

I guess the week may become a month 

[kenji]

what is the different between the BitcoinXT fork and a altcoin?  

should i worry about my btc in my papaerwallets?

[Elwar]

what is the different between the BitcoinXT frok and a altcoin?  

should i worry about my btc?

There is a huge difference.

BitcoinXT fork is 75% of the Bitcoin community agreeing to allow for phased in block size increases.

Altcoins are copies of Bitcoin changed significantly and started from scratch so that n00bs can think that they are early adopters and they're going to get rich some day.


And the blocksize code is just a code enhancement to the existing Bitcoin protocol. If forking actually caused an alt coin then Bitcoin is already an alt of the pre-2013 fork version of Bitcoin.

Bitcoin code is upgraded all the time.

[ChartBuddy]

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Explanation

[ChartBuddy]

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Explanation