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

[fissionerosion]

I think it's due to the Chinese bypassing capital controls rather then the vat-exemption. Regulation issues don't seem to affect the price much these days and the volume were from chinese exchanges after all. If it's indeed the Chinese we might be in for a ride even if just a small percentage choose this method to avoid being robbed by their government

[Asrael999]

I really don't want to entertain the MMM discussion but I find it funny how we're supposed to believe these people from South Africa are all active & buying on Chinese exchanges during chinese day time    

The MMM ponzi has pages in other languages and (thanks to bitcoin) can make victims everywhere, not just in one country.  OKCoin's CEO just confirmed that they are seeing buying pessure connected to MMM and several copycat ponzis in China.

MMM doesn't need Bitcoin to steal money - Mavrodi has been playing this game for 25 years. He' currently active in China, India and South Africa at a minimum, but the website claims Thailand, Hong Kong, Philipines, Indonesia and East Africa as well.
He's using bitcoin to transfer the money around the system - When the system cashes out we will see significant selling pressure.

[JimboToronto]

A very good morning Bitcoinland.

Nice to see $300 broken and holding. No big freakout, just continued steady growth.

Next step - $320-330 and a new high for 2015.

Some people still clinging to the idea of a bear market?

While I think the bear market's long gone, I don't think it's CCMF time yet either.

Still waiting patiently for the train.

[Tzupy]

I really don't want to entertain the MMM discussion but I find it funny how we're supposed to believe these people from South Africa are all active & buying on Chinese exchanges during chinese day time    

The MMM ponzi has pages in other languages and (thanks to bitcoin) can make victims everywhere, not just in one country.  OKCoin's CEO just confirmed that they are seeing buying pessure connected to MMM and several copycat ponzis in China.

The question is how long will the Chinese authorities take to deal with these ponzis, and how hard will this impact bitcoin.
The most radical move would be to shut down all mainland Chinese exchanges and make bitcoin (wallet) possession a crime, then we could see single digits.

[yolalanda]

I really don't want to entertain the MMM discussion but I find it funny how we're supposed to believe these people from South Africa are all active & buying on Chinese exchanges during chinese day time    

The MMM ponzi has pages in other languages and (thanks to bitcoin) can make victims everywhere, not just in one country.  OKCoin's CEO just confirmed that they are seeing buying pessure connected to MMM and several copycat ponzis in China.

I'm gonna repeat the question: why then is the buying pressure not 24/7 and only on China day time?

Protip: Localbitcoin/miner deals. Poor people hate slippage/KYC/AML, willing to pay 20+% to avoid same.

[Fatman3001]

A very good morning Bitcoinland.

Nice to see $300 broken and holding. No big freakout, just continued steady growth.

Next step - $320-330 and a new high for 2015.

Some people still clinging to the idea of a bear market?

While I think the bear market's long gone, I don't think it's CCMF time yet either.

Still waiting patiently for the train.

Cut back on the expensive coffee and get yourself some moar coinz!!! The CC is leaving the station MF!!!

[ThatDGuy]

Fun times in Bitcoin again - Still BIT COIN
*sung to the tune of Cleveland Tourism Video 2*

[yolalanda]

...
The question is how long will the Chinese authorities take to deal with these ponzis ...

Will probably follow Russia by letting bitcoiners cool their heels in jail for 4 years

[Elwar]

Get ready for the gut checks.

[8up]

...
The question is how long will the Chinese authorities take to deal with these ponzis ...

Will probably follow Russia by letting bitcoiners cool their heels in jail for 4 years

bitcoiners in cold storage seem even safer than bitcoins in cold storage. both together seem like an investment plan.

[Denker]

Exciting last few hours. But I hope the increase makes a small pit stop soon.Otherwise I'm afraid we will drop back.

[kromtar]

trollbears shorters looking for some fud

[molecular]

310-320 = resistance

I would be ok with that. Important is not to drop significantly.

i like that we are not in panicbuying-mode yet. slow and steady looks good so far.

if there is no panic buying, then why am I getting 0.09% DAILY interest on my fiat at BFX?

Let's see.. Last 24 Change: +3.08%

That's more than 0.09% interest. Better keep your holdings in BTC. 

Early adopters like me keep the vast majority of our coins in cold storage. It's only my trading stash that's in fiat. 

That's how I used to do it (what seems like) ages ago: keep USD on exchange and lend it out.

Nowadays, to reduce exchange risk, I keep less on the exchange and just go short on leverage.

The psychology sucks (you're looking at a position that's constantly in the red instead of repeated green interest payments), but it's the same thing (minus some interest I pay on BTC swaps and some opportunity cost on USD interest that more than makes up the exchange risk imo).

[Fatov]

Exciting last few hours. But I hope the increase makes a small pit stop soon.Otherwise I'm afraid we will drop back.

Good point, i think the same, btc should stop, too green isnt good

[noobtrader]

I really don't want to entertain the MMM discussion but I find it funny how we're supposed to believe these people from South Africa are all active & buying on Chinese exchanges during chinese day time    

The MMM ponzi has pages in other languages and (thanks to bitcoin) can make victims everywhere, not just in one country.  OKCoin's CEO just confirmed that they are seeing buying pessure connected to MMM and several copycat ponzis in China.

The question is how long will the Chinese authorities take to deal with these ponzis, and how hard will this impact bitcoin.
The most radical move would be to shut down all mainland Chinese exchanges and make bitcoin (wallet) possession a crime, then we could see single digits.

i wonder why you want to see bitcoin die so much ? few upside is good so you can make more money shorting it, how much profit could you grab by shorting if the price is single digit  ?

[yolalanda]

...
The question is how long will the Chinese authorities take to deal with these ponzis ...

Will probably follow Russia by letting bitcoiners cool their heels in jail for 4 years

bitcoiners in cold storage seem even safer than bitcoins in cold storage. both together seem like an investment plan.

Cold or hot storage irrelevant with gentle persuasion.
Bitcoiners pay for their stay in honest Russian rubles. See USMS auction

[JayJuanGee]

Let's break 318 now. 

Yep.... .. That's going to be an interesting number.

I personally believe that $318 will come with some ease... yet, I do recognize it as a kind of psychological barrier... and will allow some claims that we have reached all-time highs for 2015.  That will NOT bring us completely out of the woods because we do have some ways to go, but at least it will be a good sign in terms of 2015.

Then getting above $500 for 2015 does seem reasonably within reach - even though it could take bit longer to get to $500........ 

[ChartBuddy]

Coin

Explanation

[Patel]

Market took a dump, it's ready to start eating again

[noobtrader]

Market took a dump, it's ready to start eating again

i never thought we will rise this fast, 306... weew  i think we will see 312 soon