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

[gentlemand]

This is mental. No way this holds. I'm buying a rug on Overstock.

I'm sure it'll be a lovely rug but watch that multi hundred dollar postage and tax bill on top. They really should set up an EU warehouse to make us happy.

[AZwarel]

I don't understand why there isn't a global policy of involuntary euthanasia for nazis. Seems like a no-brainer.

No-brainer only if performed via encephalectomy.

I do not get this "CNY devauled" story. It lost less than 2% in the last 4 weeks vs. the USD, and less than 0,5% since 17th of May. I do not see any devaluation here, http://www.bloomberg.com/quote/USDCNY:CUR,
which would mean either some big player(s)/mania, schoolgirls buying up, or i missed something else from China. Also, that would not explain why EUR/USD buyers will follow a ~19%+ buy in. I mean, the sell side is really out of coins, ~1,500 btc to 600$ on Bitstamp (from 513$)...

[BlindMayorBitcorn]

This is mental. No way this holds. I'm buying a rug on Overstock.

I'm sure it'll be a lovely rug but watch that multi hundred dollar postage and tax bill on top. They really should set up an EU warehouse to make us happy.

I expect it to really tie the room together.

[gentlemand]

Why not commission a greasy third world slave master to produce one and pay them in BTC? It'll come soaked in the tears of the children that made it which'll really make it something to remember.

[Dotto]

Cheer up, gentlefolk.  The price isn't falling that fast. Why would it, after such healthy organic growth?

Falling? The price is increasing. You must have your chart upside down.

Sure, falling

But ... chin up! Easy come, easy go, amirite?

You almost trolled us. Ignored4eva

[BlindMayorBitcorn]

Why not commission a greasy third world slave master to produce one and pay them in BTC? It'll come soaked in the tears of the children that made it which'll really make it something to remember.

Me and the Fatman are planning to invest in some blood diamonds. If you're down?

[Ethey]

it could be good going up for 600 dollars maybe we will also get a swing directyl to 1000

[2015Bubble]

it could be good going up for 600 dollars maybe we will also get a swing directyl to 1000  2000:P

Wait till media halving hype kicking in.
In my understanding btc real vallue will me 800 eur after the halving. But bulls will pump the shit out of it because the hype so I really expecting 1000+ at least and a bear market till the next halving.

[gentlemand]

Me and the Fatman are planning to invest in some blood diamonds. If you're down?

I prefer to purchase 'pieces' with tangible human suffering clearly visible within the item itself. Hit me up if you find some grotesque objets.

[Paashaas]

OMG Huobi $589, the west $530, still a big gab but im delighted 

[AZwarel]

These are the magic days in trading you always look back fondly on (if you don't get hosed).

Yeehaw bitcoin!

[insert funny meme here]

Captain hindsight:  so it looks like what happened was DAO , with their dumb multi-tier ICO eth to dao ratio caused everyone to dump DAO when it first went up, causing huge downward pressure on ETH, so everyone wanted to get out of ETH and into BTC.

Thanks DAO!

How does getting out of DAO work? I heard today was the first day people could get out, but is everyone free to get out at the same time, or do some have to wait longer than others before they can dump DAO?

DAO nutshell:  it's almost more of an idea than a new coin.  It is a concept of an semi-autonomous corporation that is powered by ETH.  People buying into DAO control policy through voting (votes=number of DAO you have).  It had a whopping 130 million US of funding and locked up a whopping 13% of all ETH.

DAO as it relates to trading:  they did a dumb thing imho with initial coin offering. The ICO period was 30 days. For the first two weeks, 1 ETH got you 100 DAO.  The next two weeks, it went up to 1.5ETH to a 100 DAO.  This caused the totally foreseeable situation  of all those people who bought in the first week dumping immediatly when it went on sale today to secure the 50% profit against the late comers. Also, as you can exchange DAO for ETH, the two prices are now locked, and should always be around the same 1:100 ration (1 DA0 is 1/100th price of 1 ETH). This is causing huge downwards pressure on ETH and ETH holders see this so are pushing money into BTC to protect their wealth. This is feeding upon itself as this Bitcoin price boom continues.

Figured this all out over an hour or two of research last night. But I figure its sound. BTC is looking VERY bullish right now with this move away from ETH and the halving next month really I don't think we'll drop below <500 until the halving now, much more likely we'll see 600 this [long] weekend.

Great sum up of this whole DAO mess. Not even talking about the technical impossibilities (like, human factor, speculation on ETH price more than actual projects, information asymmetry regarding proposals, incentives of YES/NO votes, attack vectors, etc...), and the big question: "so, we gonna build cars, or flip burgers from this money or what? And who?"....

Still, this rise can not be from ETH "selling", way to big for that (and it isn't crushnig, ~10-15% in two days max).

[AZwarel]

Me and the Fatman are planning to invest in some blood diamonds. If you're down?

I prefer to purchase 'pieces' with tangible human suffering clearly visible within the item itself. Hit me up if you find some grotesque objets.

Ring up the Tooth Fairy :-D

[AlexGR]

OMG Huobi $589, the west $530, still a big gab but im delighted 

I'm looking at

Bitstamp 521
BTC-e 501.7
Bitfinex 532.09
Huobi 589.87

...which means we have spreads like 6% between btc-e and finex, 11% between finex and huobi, and 17% between huobi and btc-e.

If anything, these spreads show how broken legacy banking is and the difficulties of global mobility of funds between countries and markets, in terms of feasibility and speed.

Bitcoin is simply light years ahead of problematic and slow legacy banking and it shows in how legacy banking is creating arbitrage opportunities with vast spreads in the (much-faster-moving) btc market.

BTC trading in particular seems to be the "vehicle" of exposing legacy banking for its inadequacies...

[AZwarel]

it could be good going up for 600 dollars maybe we will also get a swing directyl to 1000  2000:P

Wait till media halving hype kicking in.
In my understanding btc real vallue will me 800 eur after the halving. But bulls will pump the shit out of it because the hype so I really expecting 1000+ at least and a bear market till the next halving.

I usually do not go into price predictions, but Many underestimate the media hype, FOMO. I have been watching this show, and was like "wow, it still did not correct. It got higher. 8 (sleep) hours later: wow, 500+".

This is not the usual thing, something is going on, and it frustrates me to great length, that i can't find a definitive reason!!

Also, the volume is huge(!), so many weaklings sold (lol), and i can see exchanges are out of coins to sell :-) So, >40 days halving, 1000$ not looking so unreal.

[Alley]

Is it not easy to arbiratige between china and Western exchanges?

[notme]

Is it not easy to arbiratige between china and Western exchanges?

Not in this direction.  Sure, you can sell high in china, but you can't get your money out of china as USD. If only someone had some business expenses they could pay in Yuan...

[yefi]

<-- what's this! 

There's a thread somewhere in the meta section that reveals these little hidden gems.

[hd060053]

Is it not easy to arbiratige between china and Western exchanges?

seems not lol, never seen such a good arbitrage chance before

anyone has an account on huobi / okcoin and can tell us how fast the arbitrage would be possible ?

[BlindMayorBitcorn]

<-- what's this! 

There's a thread somewhere in the meta section that reveals these little hidden gems.

Here's an old one: https://bitcointalk.org/index.php?topic=228503.msg2406390#msg2406390

From a good friend of ours..

[Gyrsur]

<-- what's this!  

There's a thread somewhere in the meta section that reveals these little hidden gems.

Here's an old one: https://bitcointalk.org/index.php?topic=228503.msg2406390#msg2406390

From a good friend of ours..

thank you!

but seems new maybe. is it political correct?