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

[Fatman3001]

I came on here today to see 10 different people posting 10 different charts with 10 different sets of weird indicators/lines all with an arrow shooting way up into the sky. I'll take that as indication that it's NOT Time to bet the farm just yet.

Things have changed since you were here. TA is out, lineage is in.

[Cconvert2G36]

@Peonminer. sfyl

Yep. Waiting on 157 ETH withdrawal. TXID and not showing on the blockchain. @JShock says around t-minus 8 hours til it's fixed. Fingers crossed.

Hope you get your $150 back from craptsy... why are you still using them? There's been big waving red flags for months now. 

[redhack]

Price is low price will rise. I'm happy to see other people also think like me. Mark my words, we'll see 500 dollars before Christmas.

[Globb0]

Isn't that growth in hash rate just both beautiful and impressive. I can't believe the hash rate was so low in Q4 of 2013 compared to today, while it seemed incredibly high at the time. The current hash rate is really below imagination, so much computing power!

https://blockchain.info/charts/hash-rate?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

So it was 1000 PetaFLOPS back then. And that IS impressive:

http://www.forbes.com/sites/reuvencohen/2013/11/28/global-bitcoin-computing-power-now-256-times-faster-than-top-500-supercomputers-combined/

But now it's 7961281.54 PetaFLOPS.

http://www.bitcoinwatch.com/

That is cool, if only we could have used the power for good

[Hyperjacked]

I came on here today to see 10 different people posting 10 different charts with 10 different sets of weird indicators/lines all with an arrow shooting way up into the sky. I'll take that as indication that it's NOT Time to bet the farm just yet.

Things have changed since you were here. TA is out, lineage is in.

No TA is in...

Can you explain your TA?

[peonminer]

@Peonminer. sfyl

Yep. Waiting on 157 ETH withdrawal. TXID and not showing on the blockchain. @JShock says around t-minus 8 hours til it's fixed. Fingers crossed. I even said, "Mein Fuhrer, please hear my cry!". Oddly enough, I got an answer after that.

Hope you get your $150 back from craptsy... why are you still using them? There's been big waving red flags for months now.  

[sniveling]

@Peonminer. sfyl

Yep. Waiting on 157 ETH withdrawal. TXID and not showing on the blockchain. @JShock says around t-minus 8 hours til it's fixed. Fingers crossed.

Hope you get your $150 back from craptsy... why are you still using them? There's been big waving red flags for months now. 

I had to wait weeks for a withdrawal while the price crashed lower and lower. Hopefully the same won't happen to the ETH withdrawal, but I'd refuse to give them my business anymore. There's something rotten going on when your withdrawals are withheld for a long time. We saw it before with Gox.

[Fatman3001]

I came on here today to see 10 different people posting 10 different charts with 10 different sets of weird indicators/lines all with an arrow shooting way up into the sky. I'll take that as indication that it's NOT Time to bet the farm just yet.

Things have changed since you were here. TA is out, lineage is in.

No TA is in...

Can you explain your TA?

Nah..[t]he problem with flapping my gums is ppl take my TA and steal it like the mt gox Mark k days... that's why I keep it close to the vest...

[ChartBuddy]

Coin



Explanation

[Hyperjacked]

I came on here today to see 10 different people posting 10 different charts with 10 different sets of weird indicators/lines all with an arrow shooting way up into the sky. I'll take that as indication that it's NOT Time to bet the farm just yet.

Things have changed since you were here. TA is out, lineage is in.

No TA is in...

Can you explain your TA?

Nah..[t]he problem with flapping my gums is ppl take my TA and steal it like the mt gox Mark k days... that's why I keep it close to the vest...

So...what? Lol!

[Fatman3001]

All this BS trash talk with a bunch of homeless retail investors is making me want to FAT finger this thing!!!

Do it.
Fat finger this thing to the fucking moon!

Yeah, Jack! I'm leveraged short. Hurt me, please hurt me.

[marcus_of_augustus]

... the next chunk of chinese change is getting ready to chug through the pipeline.

If you guyz haven't figured it out yet, they are buying btc in china and selling btc in the west ... and working the underlying general rise in their favour to soak up the entry/exit costs and arbitragers going the other way making out with too much. This is bitcoin fulfilling a need, some guyz want to get money out of the big red communist empire and btc works well for them. Learn to ride the waves pumped out by these movements, each one leaves us higher than the last, that's the tide coming in, not the waves.

[peonminer]

Breakout at 4:20PM CST?

[Hyperjacked]

I'm gonna put another log on the fire...and mix up a drink

[Cconvert2G36]

When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence?

https://blockchain.info/charts/n-transactions

Any future rally will be meaningfully constrained by this "safety feature". 

[practicaldreamer]

There is efficient arbitrage between the Chinese and non-Chinese exchanges. If Chinese miners sold their coins only in Chinese exchanges, that would tend to depress the price there.  Then the arbitragers would immediately move those excess coins to non-Chinese exchanges, until the prices got equalized.

You may be right - I wouldn't claim to know enough about the subject to be able to put forward a coherent argument one way or the other.


However :-      
             a) the arbitrage is not that efficient between East and West- it was only a couple of weeks ago that there was $50 difference between Huobi and Bitstamp, Chinese BTC being at the premium,  and

                b) it has been said that the diametrically opposite position (re. China/BTC) is the one being held by the Chinese than the one you have posited - that is, they are prepared to take a loss in Yuan just so as to be able to convert to USD and so shift "value" out of China.

 I dunno.

    

[Hyperjacked]

All this BS trash talk with a bunch of homeless retail investors is making me want to FAT finger this thing!!!

Do it.
Fat finger this thing to the fucking moon!

Yeah, Jack! I'm leveraged short. Hurt me, please hurt me.

The ironic thing is that you never bring any analysis to the thread...it's just grubbing and A$$ kissing

What do "You" think of the TA? Please...say something already!

People are bashing me...but everyone read my analysis and they are probably sick of it!

Please say something smart...I'm begging like a homeless investor

[marcus_of_augustus]

When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence?

https://blockchain.info/charts/n-transactions

Any future rally will be meaningfully constrained by this "safety feature".  

... soon time to start high-grading for valuable TX anyway. It's an industrial level tech., can't always remain a sandpit for toy projects. Which makes you misguided about rallies being "constrained" ... but hey, who am I to stop people losing money?

[Fatman3001]

Isn't that growth in hash rate just both beautiful and impressive. I can't believe the hash rate was so low in Q4 of 2013 compared to today, while it seemed incredibly high at the time. The current hash rate is really below imagination, so much computing power!

https://blockchain.info/charts/hash-rate?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

So it was 1000 PetaFLOPS back then. And that IS impressive:

http://www.forbes.com/sites/reuvencohen/2013/11/28/global-bitcoin-computing-power-now-256-times-faster-than-top-500-supercomputers-combined/

But now it's 7961281.54 PetaFLOPS.

http://www.bitcoinwatch.com/

That is cool, if only we could have used the power for good

Strictly speaking it's not PetaFLOPS, because sha256 asics can't do FLOPS calculations; it's a rough conversion. Bitcoin miners are useless for anything else than sha256 calculations. If you want someone to make an equivalent distributed super computer to do useful stuff all you have to do is find a way to pay them $1,548,000 a day.

[billyjoeallen]

I came on here today to see 10 different people posting 10 different charts with 10 different sets of weird indicators/lines all with an arrow shooting way up into the sky. I'll take that as indication that it's NOT Time to bet the farm just yet.

What do the order books tell you? That seems to be a more reliable indicator.