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

[zimmah]

Looks like it's getting tired

I find it kind of funny in a strange sort of way, how it seems that one exchange (Bitstamp) had been kind of holding us back and delaying further progress with our rocketing journey.

I don't know what to believe, exactly?

For example, if it wasn't Stamp holding us back from our upwards journey, would it have been another exchange that would have been serving such a purpose?

Is the holding back just a necessary evil that has to play out in one location or another, or is there something else going on in respects to Bitstamp?

Chinese people selling their bitcoins bought on huobi on bitstamp to get dollars?

[USB-S]

a resource based economy would be the greatest thing humanity has ever seen

That ... that makes you weak! ... Resource? What resource? Gold / Silver can be mine from the Moon / Mars / Mercury / All over the Solar system! And people have their days numbered till someone crazy invents an artificial womb!

We can't even manage ourselves on this tiny planet. Can't really talk about planetary colonies elsewhere. Trump going to take us to mars or build a wall.

[zimmah]

Since btc is cheap compared to what it will be very soon, I just purchased 50 more.

I wish I had the kind of money to just casually afford 50 Bitcoin.

Oh well. At least I have a few Bitcoin, so I guess I can't complain too much.

[savetherainforest]

a resource based economy would be the greatest thing humanity has ever seen

That ... that makes you weak! ... Resource? What resource? Gold / Silver can be mine from the Moon / Mars / Mercury / All over the Solar system! And people have their days numbered till someone crazy invents an artificial womb!

We can't even manage ourselves on this tiny planet. Can't really talk about planetary colonies elsewhere. Trump going to take us to mars or build a wall.

Actually I made a mistake ... cuz this is why:  so basically if they can control bitcoin and if they want to print more money they just have to pump bitcoin and increase its value so the thing that is pegged to bitcoin to be devalued and destroyed in to oblivion. So basically if you want to make a commodity worthless you just make the price of 1 bitcoin from $1 million to $2 million .. you just inflate it in 1 day and you solved your liquidity problem!

[AmazonStuff]

Finally, Bitstamp shows some signs of life...

[LFC_Bitcoin]

Shit son, we're going up again. This is gentlemen.

[marcus_of_augustus]

Finally, Bitstamp shows some signs of life...

https://www.bitstamp.net/article/bitstamp-launches-eurusd-trading/

Trading will begin tomorrow, May 31st, 11:00 UTC.

About EUR/USD trading
• Live trading 24/7
• Flat 0.2% fee
• Cash exchange

Finally ... stamp has just done something most excellent for bitcoin.

[AmazonStuff]

Finally, Bitstamp shows some signs of life...

https://www.bitstamp.net/article/bitstamp-launches-eurusd-trading/

Trading will begin tomorrow, May 31st, 11:00 UTC.

About EUR/USD trading
• Live trading 24/7
• Flat 0.2% fee
• Cash exchange

Finally ... stamp has just done something most excellent for bitcoin.

That's in a 2 and a half hours, right?

[600watt]

Shit son, we're going up again. This is gentlemen.

i think this is just due to the spread between btc/$ and btc/€ prices on stamp. this gap was not normal. tomorrow when bitstamp starts to allow their customers to trade $/€ this gap would have been closed anyway. maybe the action now is related to it.

too bad that the spread between CNY price level and the rest of the world cannot be killed that easy.

 

[marcus_of_augustus]

Shit son, we're going up again. This is gentlemen.

i think this is just due to the spread between btc/$ and btc/€ prices on stamp. this gap was not normal. tomorrow when bitstamp starts to allow their customers to trade $/€ this gap would have been closed anyway. maybe the action now is related to it.

too bad that the spread between CNY price level and the rest of the world cannot be killed that easy.

tomorrow is today in europe ... what it means is all the EUR demand can be reflected in USD/btc price and easily arbitraged onto bitfinex (using on-chain real time settlement feature) where the usd/btc futures are causing all the trouble ... the bears can 'manage' futures pricing with games and lead the market around but they cant satisfy real demand when the shtf

[600watt]

Shit son, we're going up again. This is gentlemen.

i think this is just due to the spread between btc/$ and btc/€ prices on stamp. this gap was not normal. tomorrow when bitstamp starts to allow their customers to trade $/€ this gap would have been closed anyway. maybe the action now is related to it.

too bad that the spread between CNY price level and the rest of the world cannot be killed that easy.

tomorrow is today in europe ... what it means is all the EUR demand can be reflected in USD/btc price and easily arbitraged onto bitfinex (using on-chain real time settlement feature) where the usd/btc futures are causing all the trouble ... the bears can 'manage' futures pricing with games and lead the market around but they cant satisfy real demand when the shtf

you are right, the $/€ trading on stamp starts 11.00 utc. which is in 2 hrs and 17 minutes. i thought it would start june 1st, but it starts may 31st

[BldSwtTrs]

Shit son, we're going up again. This is gentlemen.

i think this is just due to the spread between btc/$ and btc/€ prices on stamp. this gap was not normal. tomorrow when bitstamp starts to allow their customers to trade $/€ this gap would have been closed anyway. maybe the action now is related to it.

too bad that the spread between CNY price level and the rest of the world cannot be killed that easy.

tomorrow is today in europe ... what it means is all the EUR demand can be reflected in USD/btc price and easily arbitraged onto bitfinex (using on-chain real time settlement feature) where the usd/btc futures are causing all the trouble ... the bears can 'manage' futures pricing with games and lead the market around but they cant satisfy real demand when the shtf

But I thought Bitcoin was not meant to do transactions?

[marcus_of_augustus]

http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/

... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise.  KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust.  As soon as that happened they let the price go up to a new level ... where they think they can manage it.

These shennanigans have released some important information into the market, givn some of the game away so-to-speak.  Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate.  Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960.

[JimboToronto]

the bears can 'manage' futures pricing with games and lead the market around but they cant satisfy real demand when the shtf

Amen, and when the supply is reduced by the halving, that becomes even more so.
________

It feels to me like we might be starting another move up but it's getting close to my bed time. I hate missing the fun action but I like to get to bed before dawn and the days are getting longer.

[marcus_of_augustus]

Shit son, we're going up again. This is gentlemen.

i think this is just due to the spread between btc/$ and btc/€ prices on stamp. this gap was not normal. tomorrow when bitstamp starts to allow their customers to trade $/€ this gap would have been closed anyway. maybe the action now is related to it.

too bad that the spread between CNY price level and the rest of the world cannot be killed that easy.

tomorrow is today in europe ... what it means is all the EUR demand can be reflected in USD/btc price and easily arbitraged onto bitfinex (using on-chain real time settlement feature) where the usd/btc futures are causing all the trouble ... the bears can 'manage' futures pricing with games and lead the market around but they cant satisfy real demand when the shtf

But I thought Bitcoin was not meant to do transactions?

one of it's ideal use cases is for settling large amounts across exchanges in real time, arbitraging cross-border financing ... your comment gives away one of two things about your nature, you are a duplicitous opportunist or an ignoramus, your choice?

[BldSwtTrs]

http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/

... so this is the real reason behind the rise, or rather the reason why bitcoin was being held down and now allowed to rise.  KNC miner was going broke and the chinese miners got wind of it so conspired (probably in cahoots with some notorious shorts) to hold price below cost of production until KNC was bust.  As soon as that happened they let the price go up to a new level ... where they think they can manage it.

These shennanigans have released some important information into the market, givn some of the game away so-to-speak.  Cost of production is somewhere around $480 at current difficulty so after halving that will be around ~$960, by a simplistic 1st order estimate.  Bitcoin price has never spent large amounts of time significantly below cost of production so it is a good bet that 3-6 months after halving bitcoin price is going to be ~$960.

There is no reason a price cannot stay below cost a significant amount of time. What matters really is not cost, but variable cost.

A producer keeps producing while price > variable cost, even if price < cost. While price > variable cost, he can amortized fixed cost.

[BldSwtTrs]

Shit son, we're going up again. This is gentlemen.

i think this is just due to the spread between btc/$ and btc/€ prices on stamp. this gap was not normal. tomorrow when bitstamp starts to allow their customers to trade $/€ this gap would have been closed anyway. maybe the action now is related to it.

too bad that the spread between CNY price level and the rest of the world cannot be killed that easy.

tomorrow is today in europe ... what it means is all the EUR demand can be reflected in USD/btc price and easily arbitraged onto bitfinex (using on-chain real time settlement feature) where the usd/btc futures are causing all the trouble ... the bears can 'manage' futures pricing with games and lead the market around but they cant satisfy real demand when the shtf

But I thought Bitcoin was not meant to do transactions?

one of it's ideal use cases is for settling large amounts across exchanges in real time, arbitraging cross-border financing ... your comment gives away one of two things about your nature, you are a duplicitous opportunist or an ignoramus, your choice?

I am both

[0rganic]

a resource based economy would be the greatest thing humanity has ever seen

That ... that makes you weak! ... Resource? What resource? Gold / Silver can be mine from the Moon / Mars / Mercury / All over the Solar system! And people have their days numbered till someone crazy invents an artificial womb!

We can't even manage ourselves on this tiny planet. Can't really talk about planetary colonies elsewhere. Trump going to take us to mars or build a wall.

Actually I made a mistake ... cuz this is why:  so basically if they can control bitcoin and if they want to print more money they just have to pump bitcoin and increase its value so the thing that is pegged to bitcoin to be devalued and destroyed in to oblivion. So basically if you want to make a commodity worthless you just make the price of 1 bitcoin from $1 million to $2 million .. you just inflate it in 1 day and you solved your liquidity problem!

The force is strong in this one!. )

[AmazonStuff]

Bitstamp came from nowhere, with the price $10-15 below other exchanges and now Bitstamp is leading a race, it has a highest price and it seem that it's on the way to break $550

[600watt]

Bitstamp came from nowhere, with the price $10-15 below other exchanges and now Bitstamp is leading a race, it has a highest price and it seem that it's on the way to break $550

not exactly from nowhere...


https://bitcointalk.org/index.php?topic=178336.msg15025185#msg15025185