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

[coinits]

The Asians will wake up this morning now

Average Poloniex conversation:  

"Just wait till antarctica wakes up"

"Do you mean the people on the surface or the ones inside the hollow earth?"

"Both I think"

bitcoin will be great someday * tsunami pullback bruh

Stop spam

Banner hamer

rinse

repeat

Polo sux.

[Richy_T]

EDIT: dont hate me too much, i used to be  a bambi belieber too.
now someone post one of those matrix neo images pls

Like so?

[Torque]

As bitcoin's price goes higher over time, the volatility will decrease.  They said.

The % volatility will decrease, they said.  Riiiight.

[BlindMayorBitcorn]

[Genesis Crypto]

What's the bottom should I hold off on buying?

[Torque]

We could see one more leg down to 2300. Or not.

I think this might have been a good call? Hmmm...

[orpington]

I'm still confident we can hit another ATH today.

[STT]

look at this, it's beautiful !
http://imagizer.imageshack.us/a/img924/7513/i8GnRE.jpg

http://imagizer.imageshack.us/a/img923/4681/4SU4Nf.png

So you think iT wont go lower then that?

Thats a great chart, I never look at price in Euros but Im wrong on that as its possibly the most tradable Fiat currency in the world.   I think to take any positive view first look at it to get above 2044 Euro as thats only a first rung of 23.6% retrace of the fall.  If it can stay above that I'll trust it a bit better.  
Explain what the green patch relates to, an indicator ?  OBV for what its worth shows BTC bullish, likely to rise.   I may be reading it wrong of course, but thats my guess and experience but I never look at any indicators alone.  I happen to find OBV more simple to observe then most indicators

Looking at that EURO chart, its similar to the others in that it appears to keep a slower uptrend for this month and this reset is really only a smaller section of prices most recently put on the chart.   I think its positive for us to go back and check prices like this, if we can continue to progress with the overall uptrend everyone should be happy to see this kind of doubt expressed in markets occasionally really


Negative dude times crypto into wider markets - https://www.youtube.com/watch?v=V8Ny4P3jQqs

[Hyperjacked]

Well ... Same old same old 

Buy da dips n burn da manips ! 

[Holliday]

$600 price spread (so far) in a single day, or 22% drop.  Nice pump and dump guys.

lol, look who's back? the second we get a little dump you dare to speak out again.  

I'm not fond of rising prices on constantly decreasing USD volume on both Bitstamp and Finex.  That's the textbook definition of a roach motel:

Finex:



Bitstamp:



"Smart money" is definitely not buying in such a situation.  All the large players who actually want bitcoin already own bitcoin, hence why there is no volume.  Now it's just a giant CNBC Jim Cramer mad money scheme of trying to find some random guy in the public to dump on at more than you paid.

That looks like bitcoinity.org to me. The volume bars default to bitcoin (mBTC in fact) on bitcoinity.org and it appears that you haven't changed it. Here is the same BitStamp chart after changing volume to USD.

[criptix]

As bitcoin's price goes higher over time, the volatility will decrease.  They said.

The % volatility will decrease, they said.  Riiiight.

Bitcoin hovered around 10-20 billion until the pump started.
We are still pretty much in infancy state.

The liquidity is still weak in comparison to strong fiat currency ($, €, £, ¥).
But even they had quite the volatility over the last 2 years.

[r0ach]

That looks like bitcoinity.org to me. The volume bars default to bitcoin (mBTC in fact) on bitcoinity.org and it appears that you haven't changed it. Here is the same BitStamp chart after changing volume to USD.

You're right.  Not sure why the default volume listed would be denominated in bitcoin when bitcoin is a derivative of the US dollar so the only thing useful for traders is the USD volume.  Anyways, on USD volume Bitfinex is down from halving while bitstamp is up.  When I say it's a derivative of the US dollar, if the amount of dollars in circulation goes down (deflationary event), then the price of bitcoin goes down...while in inflation it goes up.  You could claim the Chinese printing money endlessly would also cause it to go up, but in the end it mostly comes back to whatever is the unit of account for international trade.  

I guess if you wanted to nit pick, you could say bitcoin is a derivative of the aggregate of all fiats...

[megadeth]

That looks like bitcoinity.org to me. The volume bars default to bitcoin (mBTC in fact) on bitcoinity.org and it appears that you haven't changed it. Here is the same BitStamp chart after changing volume to USD.

You're right.  Not sure why the default volume listed would be denominated in bitcoin when bitcoin is a derivative of the US dollar so the only thing useful for traders is the USD volume.  Anyways, on USD volume Bitfinex is down from halving while bitstamp is up.

Finex is a roach motel.

[notme]

That looks like bitcoinity.org to me. The volume bars default to bitcoin (mBTC in fact) on bitcoinity.org and it appears that you haven't changed it. Here is the same BitStamp chart after changing volume to USD.

You're right.  Not sure why the default volume listed would be denominated in bitcoin when bitcoin is a derivative of the US dollar so the only thing useful for traders is the USD volume.  Anyways, on USD volume Bitfinex is down from halving while bitstamp is up.

Finex is a r0ach motel.

FTFY

[r0ach]

The funny part is all exchanges are in a down wedge, while the guy on GDAX who has been trying to manipulate the price upwards forever is trying to rig the market to paint the tape in a sideways channel.  Lol GDAX manipulator:

Everywhere else



GDAX



I've ALWAYS hated that GDAX guy because it means there is zero purpose in using GDAX if you're trying to buy cheap on dumps.  He just paints the tape to try and rig the market with his shallow 0.001btc bid wall support spam with no actual liquidity.  Not that I would actually be looking to buy right now in the first place at the top of a parabolic rise.

[BlindMayorBitcorn]

Just got home. I found myself near a BTC ATM while I was out and the daily candle had dipped into the red again so I broke down and bought a tiny bit of coin... only $500 but it's better than nothing.

I thought there was a Bitcoin ATM just around the corner from you. You shouldn't have any travel expenses. Is it broken or something?

*snip*
The place I've used most recently ran out of coins a couple of days ago.
*snip*

Does it tell you its run out of coins before you put the money in, or does it happily accept the money, then refuse to give it back when it finally tells you its got no Bitcoins?

Actually, their ATM has been down since last year.

Since then, I just phone ahead to make sure they have enough coins, then head over and pay them cash anonymously for coins directly from their laptop into a paper wallet I supply.. They honor the price listed on their website.

I'm pretty sure they own and operate their own ATM. They're a small family business.

The last couple of days they've displayed this:



Whenever I've had a problem with any other ATM, a phone call to the machine's operator has cleared it up. I even met an operator who offered to deal directly with me on amounts over $1000, bypassing the ATM and effectively cutting out the merchant where the ATM was placed.

Have you ever cashed any out there Jimbo?

[Elwar]

Any reason why Bitfinex is lower than Stamp? Did they clear up their withdrawal issues? Or are people just confident that it will be fixed?

[r0ach]

I would like to see someone like Marcus or Elwar who is all-in on bitcoin try to debunk my hypothesis that the economics of bitcoin don't actually work in the long term in comparison to metals:

Why the economics of bitcoin don't actually work - What Satoshi really meant when he said the price would either be a lot or zero

http://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-13-why-the-economics-of-bitcoin-don-t-actually-work-what-satoshi-really-meant-when-he-said-the-price-would

I have discussed some of this with Steve @ SRSRocco before and he didn't seem to see any holes in it.

[Asrael999]

Any reason why Bitfinex is lower than Stamp? Did they clear up their withdrawal issues? Or are people just confident that it will be fixed?

I believe there was something on their TeamSpeak alluding to a solution in the near future, but nothing concrete

[Mervyn_Pumpkinhead]

I would like to see someone like Marcus or Elwar who is all-in on bitcoin try to debunk my hypothesis that the economics of bitcoin don't actually work in the long term in comparison to metals:

Why the economics of bitcoin don't actually work - What Satoshi really meant when he said the price would either be a lot or zero

http://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-13-why-the-economics-of-bitcoin-don-t-actually-work-what-satoshi-really-meant-when-he-said-the-price-would

I have discussed some of this with Steve @ SRSRocco before and he didn't seem to see any holes in it.

Satoshi was a talented coder, who didn't exactly seem like a visionary in economics and finance. He succeeded perfectly in creating a secure public ledger, that brought forward the idea of innovative and effective financial solutions. Bitcoin isn't a solution itself to any important financial or economic problems. It lacks a proper identity. It's not a proper currency, because it lacks the mechanism of price stability and it's not a proper asset because it lacks much use outside of speculation. It's value is mostly fueled by greed or by financial transactions the need the increased anonymity. I don't think that these things will hold the value high for very long. I see that the future is in development through alts. First we'll see first proper assets, and then in years to come, we'll hopefully also see the coming of a proper currency. Alts have the advantages to bring forward new radical change that is needed to increase the complexity of the system. Alts can bring forward fast development, while bitcoin development is stagnant in even the simplest technical changes.