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

[ChartBuddy]

Coin
Explanation

[ElectricMucus]

There be strife at Bitpay towers - https://www.reddit.com/r/Bitcoin/comments/3m7rj1/did_bitpay_lay_off_most_remaining_employees_today/

Not a huge surprise.

90% of this forum is probably in denial about it.

Also let me gloat for a minute for calling Bitpays business model unsustainable way back.
itshappening.gif

[itod]

Also let me gloat for a minute for calling Bitpays business model unsustainable way back.

What can possible be unsustainable with any payment processor business model?

[brg444]

Also let me gloat for a minute for calling Bitpays business model unsustainable way back.

What can possible be unsustainable with any payment processor business model?

One that claims 0% fees on transactions?

Surely you're kidding...

[brg444]

There be strife at Bitpay towers - https://www.reddit.com/r/Bitcoin/comments/3m7rj1/did_bitpay_lay_off_most_remaining_employees_today/

Not a huge surprise.

90% of this forum is probably in denial about it.

Also let me gloat for a minute for calling Bitpays business model unsustainable way back.
itshappening.gif

I still can't believe VCs were willing to plow 30M$ into this company..you truly have to wonder wtf these guys are thinking sometimes.

[hdbuck]

There be strife at Bitpay towers - https://www.reddit.com/r/Bitcoin/comments/3m7rj1/did_bitpay_lay_off_most_remaining_employees_today/

Not a huge surprise.

90% of this forum is probably in denial about it.

Also let me gloat for a minute for calling Bitpays business model unsustainable way back.
itshappening.gif

I still can't believe VCs were willing to plow 30M$ into this company..you truly have to wonder wtf these guys are thinking sometimes.

well bitcoin was not meant to be a payment processor à la visa/paypal it seems..


*btw, pedo spotted: http://valleywag.gawker.com/the-bitcoin-broker-and-the-13-year-old-girl-in-the-biki-1563202590

[brg444]

There be strife at Bitpay towers - https://www.reddit.com/r/Bitcoin/comments/3m7rj1/did_bitpay_lay_off_most_remaining_employees_today/

Not a huge surprise.

90% of this forum is probably in denial about it.

Also let me gloat for a minute for calling Bitpays business model unsustainable way back.
itshappening.gif

I still can't believe VCs were willing to plow 30M$ into this company..you truly have to wonder wtf these guys are thinking sometimes.

well bitcoin was not meant to be a payment processor à la visa/paypal it seems..


*btw, pedo spotted: http://valleywag.gawker.com/the-bitcoin-broker-and-the-13-year-old-girl-in-the-biki-1563202590

ewwwwww what a creep. 

[brg444]

nice little price movement this morning

[ChartBuddy]

Coin
Explanation

[coinpr0n]

Well Bitpay has contributed some pretty awesome open source code to the community [probably thanks to that VC money]. But maybe it's a good time to make deep copies of the code in case they disappear tomorrow.

[CEG5952]

According to ecoin.eu charts at the moment, the price are good and might continue to rise for awhile. Or am I wrong?

[ChartBuddy]

Coin
Explanation

[Fatman3001]

seemingly the same amounts being sold & bought repeatedly

Ye I just saw that. Broken bot or volume manipulation ?

Funny whether other exchanges will follow, or we end up stuck in the mid-$230s... then over the weekend, isnt there more likely fuel for dumping rather than pumping?  Then we will be back to $227-ish?

If you look at the volume on a larger scale it actually looks like massive volumes of BTC were purchased on Bitstamp. still theres no telling if its real or fake.

If its real then some massive companies are accumulating tens of thousands of coins (the volume on bitstamp would actually be unbelievable in this case and bitfinex would no longer be the largest exchange).
If its fake, then who is paying the trading fees and why? or is bitstamp themselves faking the volume like the chinese exchanges always do?

Could Bitstamp be arranging bulk trades and running it through the trading engine? A sort of "on the chart" "off the chart" arrangement?

Except the price changes, maybe it's a matching service?

[LFC_Bitcoin]

According to ecoin.eu charts at the moment, the price are good and might continue to rise for awhile. Or am I wrong?

The price has risen 6-8 USD in the last day or two but I don't know if we'll continue to see an upwards price movement sorry. I certainly hope so, even breaking 250 would seem good at the moment.

[Andre#]

seemingly the same amounts being sold & bought repeatedly

Ye I just saw that. Broken bot or volume manipulation ?

Funny whether other exchanges will follow, or we end up stuck in the mid-$230s... then over the weekend, isnt there more likely fuel for dumping rather than pumping?  Then we will be back to $227-ish?

If you look at the volume on a larger scale it actually looks like massive volumes of BTC were purchased on Bitstamp. still theres no telling if its real or fake.

If its real then some massive companies are accumulating tens of thousands of coins (the volume on bitstamp would actually be unbelievable in this case and bitfinex would no longer be the largest exchange).
If its fake, then who is paying the trading fees and why? or is bitstamp themselves faking the volume like the chinese exchanges always do?

Bitfinex isn't the largest exchange for a while anymore:
http://bitcoincharts.com/markets/

In the past 30 days Bitstamp had almost twice the volume of Bitfinex.

[ChartBuddy]

Coin
Explanation

[findftp]

I've said it before, and I say it again:
I'd rather have 10 bitcoin bought at 1000 USD, than 1 bitcoin bought at 1 cent. Buy and hold, CCMF!

This remains an interesting mathematical proposition concerning how high BTC is going to go..... and your frame at this point seems to be expecting BTC north of $10k... which well could be the case, in a few years... but a lot of us lose some of that faith with such a prolonged bear market including such a long flat period, too.... and even several apparent false restarts and turn arounds...

Bootstrapping a global currency/comodity takes some time.
You can't expect it to be spread around the world in one week.

I fully agree, better 10 in the red than 1 in the green.

[noobtrader]

According to ecoin.eu charts at the moment, the price are good and might continue to rise for awhile. Or am I wrong?

The price has risen 6-8 USD in the last day or two but I don't know if we'll continue to see an upwards price movement sorry. I certainly hope so, even breaking 250 would seem good at the moment.

lets see how world perception has changed...

last year :
http://invezz.com/news/forex/8310-bitcoin-usd-provokes-scepticism-at-davos-world-economic-forum

this year :
http://www.coindesk.com/world-economic-forum-governments-blockchain/

[jertsy]

seemingly the same amounts being sold & bought repeatedly

Ye I just saw that. Broken bot or volume manipulation ?

Funny whether other exchanges will follow, or we end up stuck in the mid-$230s... then over the weekend, isnt there more likely fuel for dumping rather than pumping?  Then we will be back to $227-ish?

If you look at the volume on a larger scale it actually looks like massive volumes of BTC were purchased on Bitstamp. still theres no telling if its real or fake.

If its real then some massive companies are accumulating tens of thousands of coins (the volume on bitstamp would actually be unbelievable in this case and bitfinex would no longer be the largest exchange).
If its fake, then who is paying the trading fees and why? or is bitstamp themselves faking the volume like the chinese exchanges always do?

I noticed there are lots of little trades backwards and forwards for small amounts like 0.05 BTC on Bitstamp. They can be bought and sold back again in the space of minutes. It often looks like the work of bots to me, and I often wonder if Bitstamp themselves control the bots. 0.05 BTC is only worth $12, and I doubt their are hundreds of traders all furiously trading such small amounts. I suspect most exchanges use bots to inflate their daily volume.

[ChartBuddy]

Coin
Explanation