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

[cerebellum]

If BTC wants to reach out to the average middle class out there it needs to value itself at $30-50

Yeah, it's a real shame that bitcoins can not be divided.

I lol'd IRL

Exchanges just need to show balances in mBTC and everything looks that more impressive

[1714057735]

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[1714057735]

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[Richy_T]

[ChartBuddy]

[byronbb]

[zachcope]

Only way Bitcoin fails is if governments seriously saboteur it by preventing banks from processing fiat transactions in relation to it, but the gamble is that once the establishment tries to assault Bitcoin, the counter force and backlash will serve to propel Bitcoin to the level of a household name and away we go.

This didn't work out to well for online poker.  If major government intervention happens as you describe...SELL, SELL, SELL.  

Au contraire, I first found Bitcoin as a result of the poker 'black friday'. The weak point in online poker was the bank funding re third parties. That got me thinking about how governments can (and do) influence the banks to effectively shut down undesirable industries. The beauty of bitcoin is that it can't be shut down that way. Although exchanges can be attacked or outlawed in individual countries, it is impossible to shut down face to face currency exchange or bitcoin sales. There is no central authority to control, unlike the poker companies.

I use bitcoins to play poker, even though I don't need to (live in Europe) just because I can.

BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC

I know man, I was there.  I felt like a part of me had died.     My thoughts are they can absolutely cripple Bitcoins growth via the banks.  Not to mention pushing away all hope of legitamate US business getting on board which will just stagnant Bitcoin altogether.  It would continue in the black markets and underground poker sites, etc. sure....but they can do major damage.  But hey that's negative talk...its' too early for that.   Let's celebrate the rise and hope for the best.  

EDIT:  I stand by my sell order should something major come along.

Here here I agree with you.
Decentralised and Deflationary - what could go wrong? 

[SlipperySlope]

What do we make of this hour's sales - a pump and dump? Are the sellers now the same as the buyers six hours ago?

[elux]

New "all time highs" for number of new posts AND number of new members on Bitcointalk:

https://bitcointalk.org/index.php?action=stats

All time high number of new posts was the day before yesterday:

2013-05-08: New Posts: 13842 New Members: 868

All time high number of new users was yesterday:

2013-05-09: New Posts: 13218, New Members: 1270

inb4: spem bats! meaningless statistic! it's a bubel trollolo!

Remember when it was actually possible to keep on top of "unread posts since last visit"?

[Coinseeker]

Money flow index has it in an over bought position.  My guess is it's coming back down.  

[Miz4r]

Money flow index has it in an over bought position.  My guess is it's coming back down. 

I think we're going to test $125 first, and then maybe you will be right. Wouldn't mind it going up further though, I like riding the choo choo train.

[molecular]

New "all time highs" for number of new posts AND number of new members on Bitcointalk:

https://bitcointalk.org/index.php?action=stats

All time high number of new posts was the day before yesterday:

2013-05-08: New Posts: 13842 New Members: 868

All time high number of new users was yesterday:

2013-05-09: New Posts: 13218, New Members: 1270

inb4: spem bats! meaningless statistic! it's a bubel trollolo!

Remember when it was actually possible to keep on top of "unread posts since last visit"?

Very interesting. Wouldn't have guessed.

If May 2013 continues, it will beat April 2013 (which is month with most "new users" to date).

In general the numbers are about one order of a magnitude higher (10x) than early 2011 when I got in.

[Coinseeker]

Money flow index has it in an over bought position.  My guess is it's coming back down. 

I think we're going to test $125 first, and then maybe you will be right. Wouldn't mind it going up further though, I like riding the choo choo train.

I hear ya.  And if Bitcoin is consistent at one thing, it's rendering all chart data useless.   

[SlipperySlope]

I saw the 0.1337 bot in action with repeated buys. What is the motive?

[Rampion]

i have started my dump

...

Are you gonna need help wiping afterwards?

the guy us shorting with 4:1 leverage at plus500, you can be bearish, but that's some special Olympics shit, totally beyond foolishness

[jolonnar]

I saw the 0.1337 bot in action with repeated buys. What is the motive?

Yeah, noticed that, I call it the "LeetBot".

[rezurect]

due to low volume I hope you guys don't mind a crosspost from here: https://bitcointalk.org/index.php?topic=192719.msg2084624#msg2084624



to enter a bear market we need a lower low. Depending on timeframe there are 2 potential lows to break:

• the $80 low on 5/3 (red)
• the $50 low on 4/16 (yellow)

if we don't make a new low below $80, it's not a bear market but a correction (by investopedia definitions quoted further above). We could then enter a bull market or at least further consolodation pattern (green). Of course there's different options for "green", I just outlined roughly one of them. A break of the $170 top would clearly mean we're in a bull market again (both higher highs and higher lows would've been reached then)

I don't think we have to wait more than a month to see this resolved.

Hat tip to molecular. Green arrow scenario underway...

haha. that wasn't a prediction (except that I said I favored green scenario). If we include your grey scenario (sideways for a while in white area in my pic), what I layed out pretty much covered all possibilities. Easy to be correct then.

Although I prepared for a drop I must admit I'm pretty relieved we broke upwards. Initially (couple days ago) I had been quite certain move would be up, but had increasingly become worried about the possibilities red/yellow. Probably have been reading too many bear threads... really gets to you after a while.

Let's see how much momentum this has... who knows, maybe it's a bull-trap.

Whats the expected ? 125? or Dump by the bots?

[ChartBuddy]

[fitty]

[zzomgimg]http://www.rtcons.com/wall/15835.14.png[/img]

We really need an hourly autoposter? We can't just look at your web page if we want to?

It's posting under ChartBuddy so you can easily click ignore.

Most hours, it's the only post on topic. Is it really holding you back from seeing the cool animated gifs? Once an hour seems pretty good to me.

[phoenix1]

i have started my dump

...

Are you gonna need help wiping afterwards?

the guy us shorting with 4:1 leverage at plus500, you can be bearish, but that's some special Olympics shit, totally beyond foolishness

He's FOS ... the dump could take a while  
You can't short with 4:1 leverage on plus500 ... the best you can manage is 35%, so less than 3:1
That's 25% Initial Margin + 10% Variation Margin
And you would be a fool to only put the minimum margin amount IMO in case you miss that margin call. So 2:1 is about as high as any rational person would go on this platform. 4:1 is not achievable.

He is either lying or does not have a clue what he is actually doing. Either way he is already on my ignore list 

[fitty]

Thing is, regular bitcoinity wall pics are actually more useful. You can't really tell much about the walls with the 3d pic. It has a cool novelty factor, but that wears off pretty quickly. I have ignored the ChartBuddy 

Check out the 3d wall chart on shrooms or LSD, you can actually get INSIDE the wall. Then you just ask the wall itself if Bitcoin is going up or down, trust me they never lie.

Anywho, it's sometimes interesting to see the changes in 3-d during volatility. In terms of auto posting a chart, I don't have a problem with it. It's the only chart on here that's not trying to manipulate someone.  

[cedivad]

Ok, i did market orders only today. I'm tired of trading this thing. (i was waiting for a re-entry point since when i sold everything at 110, i kicked myself not to have bought at 78$).
I bought at 122 and sold at 119. I bought again at 121 (5% of losses only for this move?).

Cashed out to a paper wallet, i don't want to see mtgox again for the next 2 months. I reached the 0.29% trading fees, they want me to get addicted. I have other things to do in the meanwhile, the only choose was between staying all in or all out.

Bitcoin conference, lot of positive media reviews, lot of buzz, 40k btc on buy orders from here to 100$, i don't think that this will be another 2011, but this confidence should tell me that maybe everything is out there to convince me to do the wrong choice.

We will see, bitcoin. 2 months from now, we will see.