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

[Dilla]

I like honey badger. Honey badger don't give a fuck

[ssmc2]

[nioc]

Bitstamp bid support is growing like a boss. Love it.

Exactly what we need to ramp up to higher prices.

Sorry for the newb question... but where can I see instant transactions taking place on multiple exchange sites at once? 

You can also take a look at this:

https://hypron.net/bitcoinwisdom/

Thanks for this
$291.14 will now be memorialized.

[ChartBuddy]

Coin

Explanation

[BlindMayorBitcorn]

Bitstamp bid support is growing like a boss. Love it.

Exactly what we need to ramp up to higher prices.

Sorry for the newb question... but where can I see instant transactions taking place on multiple exchange sites at once? 

You can also take a look at this:

https://hypron.net/bitcoinwisdom/

Thanks for this
$291.14 will now be memorialized.

$292.51 here

[ImI]

ch...........ch......................

[wutizurkwest]

The Chinese are awake and they are in the mood to party!  I suspect we'll pause at $300, but 2000 yuan = $315 US is where we'll see serious resistance.

[noobtrader]

The Chinese are awake and they are in the mood to party!  I suspect we'll pause at $300, but 2000 yuan = $315 US is where we'll see serious resistance.

im thinking 311 as the next resistance, but 315 is close enough...

[Dilla]

3 hunnit in China on houbi

[Fatman3001]

Bitstamp bid support is growing like a boss. Love it.

Exactly what we need to ramp up to higher prices.

Sorry for the newb question... but where can I see instant transactions taking place on multiple exchange sites at once? 

You can also take a look at this:

https://hypron.net/bitcoinwisdom/

Thanks for this
$291.14 will now be memorialized.

$292.51 here

2x2 here

[BlindMayorBitcorn]

Bitstamp bid support is growing like a boss. Love it.

Exactly what we need to ramp up to higher prices.

Sorry for the newb question... but where can I see instant transactions taking place on multiple exchange sites at once? 

You can also take a look at this:

https://hypron.net/bitcoinwisdom/

Thanks for this
$291.14 will now be memorialized.

$292.51 here

2x2 here

...and the ants go marching.

[JayJuanGee]

I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?

[wutizurkwest]

I thought that we were going to have a mini-rally on stamp to take the price to $295-$298-ish, but such mini-rally seems to have petered out in the $290 price spot.... or is that a false start?

We're bound to see some profit-taking, but I think it will pick up again.  Does anyone else see the curves in the 1h, 2h, 4h, and 6h charts?  Below 1h it looks like a line but it's still there.  There's the occasional deviation above and below but take those away and the data almost fits a simple growth model.  With a little imagination the curve even extends back before the dip in August, if you look at the 12h.  I don't know what to make of it.  Opinions?

[ChartBuddy]

Coin

Explanation

[Cconvert2G36]

So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:

https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/

No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.

[Harpua]

So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:

https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/

No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.

So essentially this price rise lately has been due to abunch of very wealthy Chinese ponzi schemers?  Also, is the base price of bitcoin usually related to bitstamps prices over anything else? Just curious.

[gentlemand]

So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:

https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/

No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.

Incredible that there are mountains of easily accessible info out there readily identifying what it is, yet people still pour into this type of thing. Stupidity and greed with never falter even in the face of bald facts.

[Harpua]

Bitstamp bid support is growing like a boss. Love it.

Exactly what we need to ramp up to higher prices.

Sorry for the newb question... but where can I see instant transactions taking place on multiple exchange sites at once? 

You can also take a look at this:

https://hypron.net/bitcoinwisdom/

Oh and by the way, I've taken a look at this site and this is exactly what I had in mind thank you... but it comes with another question...  There seems to be quite a lot of sell orders on coinbase and doesn't really seem to move the market at all really. I also noticed that they don't have the amount of bitcoins they sell off, is that because all of the transaction there aren't "instant"?

[Cconvert2G36]

So I was initially skeptical about the amount of demand coming from the MMM Global ponzi. Now okcoin is addressing it directly:

https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/

No idea what % of this chinese led rise is attributable to it, but it is certainly cause for concern.

So essentially this price rise lately has been due to abunch of very wealthy Chinese ponzi schemers?  Also, is the base price of bitcoin usually related to bitstamps prices over anything else? Just curious.

As I understand it, the buying pressure would be from the ponzi users victims funding their accounts with MMM Global using bitcoin as a payment method. They are awarded extra money for spreading the ponzi through social media and referrals. They get big payouts as advertised as long as the ponzi is growing, when it stops growing, their payments halt, or become less reliable. The end game is the whole thing collapses and everybody is left holding the bag... except Mr Mavrodi.

It's certainly not a new phenomena. When I was first getting into bitcoin, there was a guy on these forums going by the name pirateat40. He ran a ponzi he called Bitcoin Savings and Trust. By giving out impossible interest rates at the beginning, he wound up in control of something like 200k+ bitcoins. Inevitably it collapsed and he ended up being identified, charged, and convicted.

The two are quite different in that pirateat40 was an amateur and this Mavrodi is basically the most professional scammer there is.

Many people around here trust the prices on bitstamp because it is quite old and doesn't offer leverage. But as you can see now, China is very important to the way things play out. We're over $300 in yuan equivalent and bitstamp/bitfinex are still hovering at $292.

[ImI]

as i understand it one new victim buys btc and sends them to MMM which takes some of the BTC and sells them to pay the older victims

so afterall it should lead to revenue but not necessarily buy pressure