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Question: Sept. 21 Closing Price:
$0 - 4 (3.7%)
<$8,000 - 5 (4.6%)
$8,000-$8,500 - 1 (0.9%)
$8,500-$9,000 - 2 (1.8%)
$9,000-$9,500 - 5 (4.6%)
$9,500-$10,000 - 7 (6.4%)
$10,000-$10,500 - 25 (22.9%)
$10,500-$11,000 - 20 (18.3%)
$11,000-$11,500 - 19 (17.4%)
$11,500-$12,000 - 6 (5.5%)
>$12,000 - 8 (7.3%)
>$20,000 - 7 (6.4%)
Total Voters: 109

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21376920 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (106 posts by 21 users deleted.)
gizmoh
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May 02, 2013, 06:03:48 AM
 #2961

Butterfly labs officially announced shipping... prepare for the bullrun!!


or not...

Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash.

Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure.
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lostmach
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May 02, 2013, 06:08:28 AM
 #2962

Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure.

Not quite how it works...

There will be no more selling pressure than there is now, the same 3600 BTC will be produced each day, and currently more than half of the network is probably ASICs that were purchased at a higher price than BFL's.

Correct.
tHash
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May 02, 2013, 06:08:34 AM
 #2963

Butterfly labs officially announced shipping... prepare for the bullrun!!


or not...

Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash.

Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure.

Maybe 10% or 20% increase as difficulty adjusts.   An extra 360 coins a day will do nothing.   Also, the network already quadrupled, leading to the same sort of oversupply.   The next quadrupling will actually take longer than the last one, and as slow as BFL is shipping, difficulty will be able to adjust just fine to limit supply.
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May 02, 2013, 06:20:48 AM
 #2964

Butterfly labs officially announced shipping... prepare for the bullrun!!


or not...

Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash.

Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure.

Maybe 10% or 20% increase as difficulty adjusts.   An extra 360 coins a day will do nothing.   Also, the network already quadrupled, leading to the same sort of oversupply.   The next quadrupling will actually take longer than the last one, and as slow as BFL is shipping, difficulty will be able to adjust just fine to limit supply.

price will rise because BLF delivered and is not a scam, i'm sure everyone that pre-ordered BLF now has a big weight lifted off their shoulders.  yet another amazing thing bitcoin has accomplished in only 3 years time.

good vibes = price increase.
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May 02, 2013, 06:28:47 AM
 #2965


price will rise because BLF delivered and is not a scam, i'm sure everyone that pre-ordered BLF now has a big weight lifted off their shoulders.  yet another amazing thing bitcoin has accomplished in only 3 years time.

good vibes = price increase.

I hope you are right  Cheesy

The weight won't be lifted off of my shoulders until I have my units hashing, and the price is of bitcoin is above 0.   I have a June order, and have a pretty decent chance of doing alright, unlike people ordering now, thinking they are going to make out like bandits only to find the network will be 2 Ph/s + by time they get their devices, they will not be happy . . .
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May 02, 2013, 06:50:43 AM
 #2966

Butterfly labs officially announced shipping... prepare for the bullrun!!


or not...

Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash.

Agreed.I don't understand advocates who believe price will rise on new asics hardware. This can only lead to increasing daily coins supply, thus more selling pressure.

True, but at this point the network rate is so high that people aren't going to be making many coins anymore with ASIC. HAving an ASIC is like GPUS a year ago, and people weren't desperate to sell then either.
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May 02, 2013, 07:29:32 AM
 #2967

I guess whoever the manipulator is, he make his moves when everyone's asleep.

Or people just got bored of the price lol.
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May 02, 2013, 07:30:21 AM
 #2968

at this point the network rate is so high that people aren't going to be making many coins anymore with ASIC. HAving an ASIC is like GPUS a year ago, and people weren't desperate to sell then either.

I believe that
1. Most miners have held their coins since January. Recent trends might make them want to dump the 100k coins produced since.
2. Not profitable for a western individual miner (exception made for Icelanders who have near-free energy) but in the short term very profitable for Chinese people with know-how or for businesses and loaded tycoons who can buy the chips from Avalon in batches of 10000 or build their own.

Sent from my phone sorry for spelling errors
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May 02, 2013, 07:32:38 AM
 #2969

Off-topic slightly but LTC and NMC seem to have done very well before, during and after the latest BTC dive.
deathcode
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May 02, 2013, 07:41:08 AM
 #2970

121 wall got destroyed!!!
NamelessOne
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May 02, 2013, 07:42:27 AM
 #2971

121 wall got destroyed!!!
It was total termination, hehe  Grin Cheesy
deathcode
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May 02, 2013, 07:43:22 AM
 #2972

121 wall got destroyed!!!
It was total termination, hehe  Grin Cheesy
125 wall... you're next
Frozenlock
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May 02, 2013, 07:44:42 AM
 #2973

What is happeniiiiing?!?!
NamelessOne
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May 02, 2013, 07:46:35 AM
 #2974

What is happeniiiiing?!?!
Seems the market is confident after a test of the 100-110 range.  Cheesy
deathcode
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May 02, 2013, 07:52:30 AM
 #2975

What is happeniiiiing?!?!
Seems the market is confident after a test of the 100-110 range.  Cheesy
this is market manipulation at its finest... whoever dumped yesterday, is re-buying at lower prices now..
makes total sense... waited to make sure the bottom was reached and now is rebuying again...
Frozenlock
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May 02, 2013, 07:55:39 AM
 #2976

You guys see manipulation everywhere.

I see a bunch of people panic buying.
deathcode
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May 02, 2013, 07:59:45 AM
 #2977

You guys see manipulation everywhere.

I see a bunch of people panic buying.

I've been watching how  buy order of 1000 coins was moving back and forth slowly but surely while the price was going up, not that order is at 121.... that's ONE single person/bot moving that order. not multiple people...and it was systematically appearing so that's why I think this is the doing of one account only followed by smaller fish..
hmmmstrange
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May 02, 2013, 08:03:54 AM
 #2978

This is one of the weirdest pushes up i've seen. Bewildered!
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May 02, 2013, 08:04:54 AM
 #2979

Damnit... I wanted to go to sleep...

Now I must wait to see if the price crosses my threshold.  Angry
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May 02, 2013, 08:06:34 AM
 #2980

Damnit... I wanted to go to sleep...

Now I must wait to see if the price crosses my threshold.  Angry

Somehow shit always happens when you're asleep in bitcoin world   Angry
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