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

[UltimateReaper]

Sorry everyone, I'm late to the party.  Is there a theory on why the price has been so stable?

we are all waiting for a dump.

we know that somewhere out there, there's a bitcoiner that needs the money, everyone is just waiting to capitalize on his miss fortune...

its a sick sad world.  

http://25.media.tumblr.com/a118f693f73e94a05bc90abec3850a29/tumblr_mkl33hPpzB1sn5teeo1_400.gif

It's only a matter of time.

[ineededausername]

Well, let's see... what are some eras of stability that we've seen before?

$5... until it exploded to $15
$13... until it exploded to $266

The waiting starts now

[Quantum_Negatum]

It's not just the low volume that scares me.  This coincided with Gox restricting and/or disabling bots. It appears that not only do the bots move walls to control the price, but they are also responsible for most of the volume.

 link?

There are some reports earlier in the thread by users who had bots disabled/restricted.  I'll try to find.

Not surprising though. Gox has previously posted on facebook or twitter that they temporarily restricted the bots after a DDOS attack. I believe this was done shortly after the engine upgrade in April. Similar to the present situation, those restrictions also resulted in low volume and stagnant price.

*edit*

some reports around p 337.  https://bitcointalk.org/index.php?topic=178336.msg2087032#msg2087032

[oroboras]

[Piper67]

Incidentally, a stable price while 3600 new coins are produced each day means the value of Bitcoin is actually on the rise.

[oroboras]

good point.
Oh yeah, my first HD 7970 OC arrives tomorrow.... my output will triple now

OK, not speculation, and should be in the mining thread, but I will be speculating the BTC I mine.

[UltimateReaper]

Incidentally, a stable price while 3600 new coins are produced each day means the value of Bitcoin is actually on the rise.

To be honest I'm pretty sure this volume isn't normal and neither is MtGox right now. Something has to be up, it's literally dead right now.

Also, if the "true value" is lower than what it is now (I'm sure that it probably is) the rising value per new coins doesn't mean much.

Also doesn't a bigger supply mean a lower demand? Wait how does that work with bitcoin?

[UltimateReaper]

good point.
Oh yeah, my first HD 7970 OC arrives tomorrow.... my output will triple now

OK, not speculation, and should be in the mining thread, but I will be speculating the BTC I mine.

For the love of me I cannot figure out how to mine. Got a user friendly guide?

[adamstgBit]

Has Gox limited or disabled the bots?  If so, it's a bad omen when that results in almost no volume... Another indication of how much control the bots really have.

my "client" is effectively disabled. can't do api calls at all. don't know what to do to get around cloudfare ddos protection stuff. apparently this: http://blog.cloudflare.com/introducing-im-under-attack-mode got activated.



crap, it's true. probably many bots are disabled. let's see what the humans do... probably not much.

hmmm interesting...

[fourkey2001]

400 btc to be sold at 113....

if that person gets impatient he may dump it now

[oroboras]

good point.
Oh yeah, my first HD 7970 OC arrives tomorrow.... my output will triple now

OK, not speculation, and should be in the mining thread, but I will be speculating the BTC I mine.

For the love of me I cannot figure out how to mine. Got a user friendly guide?

https://mining.bitcoin.cz/ look on there. It's really easy, and if like me you keep your PC on 24/7, then the extra power consumed is virtually nothing.

I doubt that guy will dump his 400BTC yet. I hope he does though, as I will be able to buy in for a tiny profit if he drops to 111.5 - and a tiny profit > boredom.

[rezurect]

Can anyone overlay btc-e and mtgox  price charts,line, hourly for 1 month ?

[UltimateReaper]

I have discovered some slightly positive news for you guys. In the past 24 hours, while Mt Gox volume has been very low (relative to recent weeks), Bitstamp has not seen as severe of a drop. Of course it is only one small data point. But it would be awesome if the Gox monopoly was weakening.

http://s21.postimg.org/ookyiri3r/24hour_btc_vol.png

For reference, in the past Gox has almost always had at least 10x higher volume than any other exchange. Here we see Gox having less than 4x the volume of Bitstamp.

Mtgox is dead. Bitstamp isnt moving much either. Thunder clouds and rain outside.... What will the world look like when the sun rises?


Lol

[ChartBuddy]

[glendall]

More I learn about this world more enticing starting an exchange becomes.

Already have the legal and accounting resources.  Any developers out there interested in a project please pm me.  Based in Canada.

Go for it man ! Be nice to have another option besides CanVirtEx, where it is pretty difficult to get money in or out of without using a bank account.

[fourkey2001]

seems the bear parade is walking in

[adamstgBit]

seems the bear parade is walking in

their walking pretty slowly....

[fourkey2001]

only 14% people say to buy

interesting: https://bitcointalk.org/index.php?topic=200615.0

[01BTC10]

only 14% people say to buy

interesting: https://bitcointalk.org/index.php?topic=200615.0

Solid statistical sample.

[Piper67]

More I learn about this world more enticing starting an exchange becomes.

Already have the legal and accounting resources.  Any developers out there interested in a project please pm me.  Based in Canada.

Go for it man ! Be nice to have another option besides CanVirtEx, where it is pretty difficult to get money in or out of without using a bank account.

Have you tried liberty bit?