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

[DrG]

I keep getting optimistic that it will get near $135 again but every time it nears that ($132 on the last major run) somebody dumps 1-4k of coins (probably bought in at $56 and cashing out).

[DrG]

And here it comes, the sell off

but it's low volume so far

[Kazu]

And here it comes, the sell off

but it's low volume so far

What is this sell off you speak of? There is huge sells and no price change. More like, playing-chicken-with-wall time.

[just1nmc]

And here it comes, the sell off

but it's low volume so far

What is this sell off you speak of? There is huge sells and no price change. More like, playing-chicken-with-wall time.

Lol, I think we need to all remind ourselves that this is the weekend still. The fact that the price rose at all is impressive, it doesn't need to go to $130+

[DrG]

Well it did go from $129.x to $127.01in 2 min.  I figured it would go back to $120 but again low volume of only 200 didn't move it far.

[Kazu]

Well it did go from $129.x to $127.01in 2 min.  I figured it would go back to $120 but again low volume of only 200 didn't move it far.

Probably stay within $125 and $130 for the forseeable future (which is, for bitcoin, like 5 hours lol).

[Kazu]

Apparently the forseeable future was half an hour. It "crashed" down to 121.11. Looks like its bottoming out. Put a small buy order at $120.51. Not sure if it will be executed, its so small I hardly care.

[loanexpress]

Apparently the forseeable future was half an hour. It "crashed" down to 121.11. Looks like its bottoming out. Put a small buy order at $120.51. Not sure if it will be executed, its so small I hardly care.

Huge increase in volume and big drop like said in the last 10 mins. But already climbed back to 125 as I type this.

[just1nmc]

~BTC6k sell off. I can't tell if there's just a lot of impatient people with tons of coins or if they're still trying to start a panic sell..

[Kazu]

Apparently the forseeable future was half an hour. It "crashed" down to 121.11. Looks like its bottoming out. Put a small buy order at $120.51. Not sure if it will be executed, its so small I hardly care.

Huge increase in volume and big drop like said in the last 10 mins. But already climbed back to 125 as I type this.

Not sure. I suspect its one of these people that is like "well, this is  pretty good price to sell, probably will dip lower anyways, if I put in a momumental sell order split into 1038204820 different trades it will look like a sell off maybe I can get the price to tank while I'm at it."

[loanexpress]

https://i.imgur.com/WeXKOpm.png

Looks like the Grand Canyon down there.

[Kazu]

Looks like the Grand Canyon down there.

Lol. It does though, doesn't it.

[adamstgBit]

 

So Far so good.

[just1nmc]

A few big sellers drove the price down the past couple hours with market orders. Some panic selling as it approached $120.

[Ares]

Big dump. But a 1k buy order got put for about 1 second right at the top then immediately pulled

[xorglub]

120 wall broken... will it bounce ?

[rpietila]

Must read, clarifies your thoughts on the price (3 min only).

The "double auction" method described, is the way I also would solve the fiat/BTC problem. Coupled with a Dealer Network, where only the members have access to the auction, and the general public either buys from them OTC or uses the real-time exchanges, which are relegated to a marginal "casino" role, where the bulls and bears both win, only sheep get slaughtered.

Long term transfer of coin-denominated wealth would go the route of  "large private holds -> Dealer Network (most of these by design have large holds themselves and may therefore easily unload their own holdings) -> paper wallets of the new adopters".

[wonkytonky]

120 wall broken... will it bounce ?

someone did a big short ... it has to come back some time

[oakpacific]

Must read, clarifies your thoughts on the price (3 min only).

The "double auction" method described, is the way I also would solve the fiat/BTC problem. Coupled with a Dealer Network, where only the members have access to the auction, and the general public either buys from them OTC or uses the real-time exchanges, which are relegated to a marginal "casino" role, where the bulls and bears both win, only sheep get slaughtered.

Long term transfer of coin-denominated wealth would go the route of  "large private holds -> Dealer Network (most of these by design have large holds themselves and may therefore easily unload their own holdings) -> paper wallets of the new adopters".

You do realize that you are in a community where any service operator who can't achieve more than 99.999% uptime will get crucified on the cross of shame and be spitted on? Geeks don't give a damn about your fancy order-matching idea, and how a real world exchange should operate, if you dare to entertain with the idea of an exchange not having to process orders real-time every second 24*7, you will get strapped of your badge of nerdiness and ostracized forever.

[rpietila]

You do realize that you are in a community where any service operator who can't achieve more than 99.999% uptime will get crucified on the cross of shame and be spitted on? Geeks don't give a damn about your fancy order-matching idea, and how a real world exchange should operate, if you dare to entertain with the idea of an exchange not having to process orders real-time every second 24*7, you will get strapped of your badge of nerdiness and ostracized forever.

The world does not need authoritative bitcoin prices any more than every 8 hours. This is more than 1000 times per year, ff'ss! (I may be wrong, since 640k indeed was not enough to contain the blockchain!)

There will be no real time exchange in my system at all. For that, you will need to visit the casinos, where I will continue to play with my BTC1,000 playstash whenever I feel like, as do all my friends, enriching themselves in expense of the sheep. Not that I needed to be enriched any more, or even that the shearing of the sheep was fun, but all this is required to keep the buzz on Bitcoin going. Expect more scandals! 

I have already taken measures, how to survive the coming ostracision. I only need to take 76% of the network with me. If you want to join my Bitcoin shadow devteam, drop a PM!