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

[JimboToronto]

Good morning Bitcoinland.

Not much change again... $577 on BitcoinAverage.

Thank heavens for caffeine.

[harrymmmm]

Someone care to speculate what price would reach BTC if a random guy (or agency) decides to buy 1 million?

It's important to, at least, specify how quickly this is to be done.
If it's immediate, I think he'd exhaust exchanges' liquidity and then be forced to OTC at premium prices.
If it's a slower purchase, he'd lose a lot in slippage, and bitcoin would go to the moon

Not sure which method is cheapest for the random guy.

[kobilica]

What about dark pools?

[BathSaltsDealer]

Back to 560s?

To market, to market, to buy a fat pig,
Home again, home again, jiggety-jig.  

[becoin]

What about dark pools?

Dark pools is scam. There is no reason to buy BTC and don't want price to go up after your purchase, unless you're a BTC enemy.

[JayJuanGee]

We don't need no random guy. If the 15% of the average smartphone users would start buying and using BTC our beloved coin would go out of the Solar System.

Some stats:
Copay for Android has something like 10.000 downloads
Blockchain.info has something like 100.000 downloads
Coinbase around 500.000 downloads
I expect similar data for IPhone users (can't say, I don't have an Iphone)

Push these numbers to at least 150 M and then you need no random guy to push the price high.

(While searching for those numbers I stumbled upon the >100.000.000 Pokemon Go downloads  )

Well, one thing about bitcoin, though, is that regular folks don't really start to buy until they begin to consider that random guy might be out there buying 1 million coins, and then they jump on board and magnify the effects of random guy. 

Whether we need random guy or not, random guy would more certainly be a lot easier to achieve than getting a bunch of random folks to start buying BTC - absent any other changes. In other words, random guy can act right now, the masses need some kind of stimulus to cause them to act in unity in the same direction as hypothetical random guy.

[Holliday]

What about dark pools?

Dark pools is scam. There is no reason to buy BTC and don't want price to go up after your purchase, unless you're a BTC enemy.

Unless you want to purchase more next week and hope to get the most for your money.

[becoin]

What about dark pools?

Dark pools is scam. There is no reason to buy BTC and don't want price to go up after your purchase, unless you're a BTC enemy.

Unless you want to purchase more next week and hope to get the most for your money.

Flawed logic, for you'll not buy now but wait next week and get the most for your money.

[marcus_of_augustus]

BathSaltsDealer is not NotLambChop and can be confirmed as a govt. agent ... thanks for outing yourself scumbag.

[XCASH]

There's only 2000 Bitcoins for sale all the way up to $1000 on Bitfinex, but almost 9000 Bitcoins up for sale up to $1000 on Bitstamp. It wouldn't take much of a pump to go past the ATH on Bitfinex, and the arbitrage bots might be too frightened to trade on it in case their money is taken in a socialised loss scenario.

[BlindMayorBitcorn]

BathSaltsDealer is not NotLambChop and can be confirmed as a govt. agent ... thanks for outing yourself scumbag.

Well I can't catch up. But I can get behind anything. 

[marcus_of_augustus]

BathSaltsDealer is not NotLambChop and can be confirmed as a govt. agent ... thanks for outing yourself scumbag.

Well I can't catch up. But I can get behind anything. 

Well we all know you are a spook (you've as much admitted it) but you are of the kinder, gentler variety at least ... Casper

[BathSaltsDealer]

Glenn Gould was a communist.

¯\_(ツ)_/¯

I bet you it was this...

Back to 560s?

To market, to market, to buy a fat pig,
Home again, home again, jiggety-jig.  

I'm what we in the intelligence circles call a "Hungarian Code Mule," was passing some "happy" code for my spyfriend. Edward "Special Snowflake" Snowden, because NASA is watching him.

I don't really know what those launch codes mean :\

P.S. Did i say "intelligence circles"? Lol, major typo, disregard. I meant shoe! Shoe salesman circles.

[savetherainforest]

There's only 2000 Bitcoins for sale all the way up to $1000 on Bitfinex, but almost 9000 Bitcoins up for sale up to $1000 on Bitstamp. It wouldn't take much of a pump to go past the ATH on Bitfinex, and the arbitrage bots might be too frightened to trade on it in case their money is taken in a socialised loss scenario.

What are you? ... Nostradamus? ...

I don't really take in consideration the nonsense you see on exchanges... because its not how reality works! The "off the book" transactions are an evil weapon of secret mass destruction. So... that being said... I'm more excited about Deutsche Bank screaming like a little spoiled child "QE!!!"  ... And it fills me with more joy than I can handle.     

[BlindMayorBitcorn]

Don't misunderstand. He soaked his hands in sin for religious reasons. It wasn't political.
Why does everybody always assume it was political?

[yefi]

I felt a great disturbance in the market, as if millions of shitcoins suddenly cried out in terror and were suddenly silenced

lol, the Bitcoin is strong in this one.

[Mrpumperitis]

has anyone here actually been paid anythin by this wormy guy is he for real??
rumoured bfx hacker

https://twitter.com/_cryptoworm_?ref_src=twsrc%5Etfw
http://fuckethereum.com/

he claims to have paid out
Mr.Worm @_cryptoworm_

As of my site says I have already #gaveaway more than 3000 BTC http://goo.gl/Hi9tWh  for less than 2 wiks and this will continue my frnds!

also claims he knows of next exchange ?

[BlindMayorBitcorn]

^I'm more of a snakes and ladders man, myself.
Incidentally, I heard there was some actual news about rekcahxfb. He seems (lol?) to have sent a thousand coins to a girl (lol). Those coins were from 2013, so probably an old scammer masquerading as a new one.

And so it goes.

[BlackSpidy]

BathSaltsDealer is not NotLambChop and can be confirmed as a govt. agent ... thanks for outing yourself scumbag.

People have been trolling here since the price was $230. The people saying bitcoin is useless or claiming that there's doom lurking around every corner for bitcoin are just people that have whatever broken life that leads to dedicated trolling.
I bought my first bitcoin ^fraction at $280 in 2015 and I though it was expensive. Now I know better than to distrust  bitcoin's inherent deflationary nature (and how well it retains value compared to the USD due to that attribute). So, with this simple rule of thumb, I avoid being a bagholder. "No buying bitcoin for 16 months after bitcoin increases value above 80 times in the span of one calendar year. No buying for 3 months after the price doubles in the span of two months".
Plus, there's the undeniable fact that if started January 1st 2013, setting a time (monthly or yearly) to buy a set amount of bitcoin (an amount you're comfortable losing), it would have resulted in profit. Running the numbers, I get an 900%, 16%, 46% and 10% increase on initial investment if a yearly purchase strategy was deployed (every Jan 1st staring 2013, 2014, 2016 & 2016 respectively). That is, using the current price of $560 to value those bitcoin.

Trolls are as obsessed with the ATH as the bulls, and they say that since we're under it, bitcoin must be a failure. But I just checked, and the price was over $900 a total of 13 days (not in a row). So I'm sitting here thinking that if the price remains above $900 for 13 days in a row, we can consider the market completely recovered from MtGox and any other temporary setback its seen.

BUT, I am considering buying bitcoin this weekend, so be ready to have bitcoin go to $530 a few minutes after I buy.

[JayJuanGee]

BathSaltsDealer is not NotLambChop and can be confirmed as a govt. agent ... thanks for outing yourself scumbag.

People have been trolling here since the price was $230. The people saying bitcoin is useless or claiming that there's doom lurking around every corner for bitcoin are just people that have whatever broken life that leads to dedicated trolling.
I bought my first bitcoin ^fraction at $280 in 2015 and I though it was expensive. Now I know better than to distrust  bitcoin's inherent deflationary nature (and how well it retains value compared to the USD due to that attribute). So, with this simple rule of thumb, I avoid being a bagholder. "No buying bitcoin for 16 months after bitcoin increases value above 80 times in the span of one calendar year. No buying for 3 months after the price doubles in the span of two months".
Plus, there's the undeniable fact that if started January 1st 2013, setting a time (monthly or yearly) to buy a set amount of bitcoin (an amount you're comfortable losing), it would have resulted in profit. Running the numbers, I get an 900%, 16%, 46% and 10% increase on initial investment if a yearly purchase strategy was deployed (every Jan 1st staring 2013, 2014, 2016 & 2016 respectively). That is, using the current price of $560 to value those bitcoin.

Trolls are as obsessed with the ATH as the bulls, and they say that since we're under it, bitcoin must be a failure. But I just checked, and the price was over $900 a total of 13 days (not in a row). So I'm sitting here thinking that if the price remains above $900 for 13 days in a row, we can consider the market completely recovered from MtGox and any other temporary setback its seen.

BUT, I am considering buying bitcoin this weekend, so be ready to have bitcoin go to $530 a few minutes after I buy.

They have been trolling here longer than 2 years, that's for sure.    But the bear trolls were coincidentally correct for much of 2014 in their prediction that BTC prices were going down, and to the extent that they were shorting in such direction.  Then, yeah, more than half of 2015 became a bit mixed because it became much more difficult to push prices below $220, except for short bursts.  $220 kind of became the new floor for that period..   but we cannot really judge floors exactly until after the fact, and events such as Bitfinex are quite traumatic for bitcoin prices - and there could even be worse exchange failures than that, as we have seen and could again see, possibly.

Yes, interesting for you to point out that little fact about BTC prices being above $900 for only 13 days in total... hahahahaha.. that is interesting, and surely, it seems that we are going to return to prices above $900 at some point, but a question remains whether that point is coming in the next 12 to 24 months or will it take longer to get above such prices? 

Gosh, I don't know, but I do believe that the chances are pretty decent that we are continuing to experiences upwards price pressures, and there may be some folks that are still worried about what is going on with Bitfinex, exactly.


Check out this article:

http://www.coindesk.com/bitfinex-bitcoin-recovers-volume-perception-battle-rages/