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

[NamelessOne]

Buy Bitcoin while you still can. The price is being be held stable by big money for the Silicon Valley conference. The price will soon explode upwards.

Captain Cook has spoken!

[1714468674]

1714468674

[1714468674]

1714468674

[1714468674]

1714468674

[Its About Sharing]

Buy Bitcoin while you still can. The price is being be held stable by big money for the Silicon Valley conference. The price will soon explode upwards.

I just looked at the market depth over at GOX. My guess is that something is up. The sell side is really starting to dip (146k), lowest I've recorded since end of April.
Bids at $70 are the 2nd highest I've seen and the asks at $300 are the lowest since the start of the month. The sell side volume at higher prices is creeping up.

Hmmmm   

[Pale Phoenix]

So now I will take a rest and mind my own business in calm quietness for days, weeks or months.

I don't care if your "rpietila" persona is real or not. Our identities are mostly just stories we tell ourselves anyway, and yours is comedy gold. We may all be worms, but you sir, are a glow worm (borrowed from Churchill, I think).

Get some rest and come back soon.

[DougTanner]

Hitting $116 again.

[dexX7]

https://community.bitfinex.com/content.php/27-Gox-recent-news

Note the comment:

[BFX]Raphael - Today, 08:30 PM  Reply
The surprises of next week will surely make it up for it.

Dear traders and lenders, stay tuned
Raphael

This whole announcement seems significant, isn't it? Does anyone have some numbers on Bitfinex?

But yeah, the Dwolla incident brings up one question. What to do with Mt.Gox? I mean, the loss of Dwolla is not the only problem. The MtGox withdrawal delays [Gathering] thread doesn't look good either. But that's not a new problem. Someone said their daily SEPA withdrawl limit at their bank is 60k EUR..

While the market seems bullish or at least undecided and it should break the resistance/former triangle and go +125, I'm not sure about the future. I wouldn't be that surprised if it gets bumpy while the real consequences unfold. Bitstamps ask side is scarry as hell, but over the day bid side gained some significant power too. Daily volume of other exchanges in relation to Gox gets higher and higher. Order book depth on the ask side on Gox hit it's 15 day all time low. It really seems like people are transfering there BTC to other exchanges.

Positive news: Bitcoin conference. I'm sure there will be some sweet announcements.

[Pale Phoenix]

probably bitfinex will have a rooting to another exchange like bitstamp..  it's only a guess though..

Bitfinex is already routing through Bitstamp, but maybe there's another exchange coming online.

[kooke]

Buy Bitcoin while you still can. The price is being be held stable by big money for the Silicon Valley conference. The price will soon explode upwards.

Captain Cook has spoken!

Yes I have spoken

[Ultraviolet]

OANDA adds Bitcoin to their Currency Converter

http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/

[Miz4r]

OANDA adds Bitcoin to their Currency Converter

http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/

April 22nd? Isn't that old news already?

[justusranvier]

also, I've been wondering if reptilia is actually right.

Maybe will (now) never see sub $100 again... not sure about the 300k part thought

If he's right about never seeing sub $100 again then he's also right about seeing $300k.

If Bitcoin fails then we'll see an exchange rate of $0. If Bitcoin does not fail then its adoption will increase at the expense of the dollar because ceteris paribus there is no reason to hold currency that loses value when you have the option of holding currency that does not lose value. In that case we'll eventually see an exchange rate of $300k just before it becomes undefined.

[dexX7]

I have heard before that bids can be put in without sufficient funds in the account

I'm not sure if those orders appeared in the order book or if it was something account internal, but I think you refer to this:

TOKYO - JAPAN - April 09, 2013

Orders will only be accepted when there are enough funds available in your wallet!

Dear users, starting on April 17th we will be rolling out a minor change on how people place orders via the Mt.Gox interface.

Until recently, anyone could place a buy or sell order for Bitcoin, regardless of how much funds were actually available in their wallet, resulting in an order showing a "Not enough funds" error status in the Open Orders list.

Starting on April 17th, this counter productive scenario will no longer be possible and will be automatically rejected before validating your order; until you have enough funds in your wallet to match the order value.

While this change should only affect a minority of users, it will however have a major impact on our trading platform and improve our system overall performance.  

Regards
Mt.Gox Co. Ltd Team.

Mt.Gox Contact press@mtgox.com

https://mtgox.com/press_release_20130409.html

[Pale Phoenix]

I am speculating, I know, but it seems like a pretty rational strategy for anyone who is at all concerned about their fiat (and to a lesser extent their BTC) on Gox

I think you're right. Gox hasn't exactly been communicative about these recent events, and anytime a company's name appears on a seizure warrant it takes uncertainty to a whole new level. It's a bit reckless to leave money there until things become clearer.

I'm relieved that Bitfinex is reducing their Gox exposure as I have funds with them, but it's been killing me that I can't trade these spreads.

[Ultraviolet]

OANDA adds Bitcoin to their Currency Converter

http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/

April 22nd? Isn't that old news already?

Laughs. I'm awful.

[phoenix1]

I have heard before that bids can be put in without sufficient funds in the account

I'm not sure if those orders appeared in the order book or if it was something account internal, but I think you refer to this:

I was actually referring to comments about lag being caused by the trading engine having to check funds. I don't know at which stage of the process this was occurring and am not trying to spread any FUD. It was discussed here and someone probably knows the answer better than me

[Pale Phoenix]

If he's right about never seeing sub $100 again then he's also right about seeing $300k.

I'm not sure your maths are solid there.

[justusranvier]

I'm not sure your maths are solid there.

Government issued currencies can not survive competition with free market alternatives.

Either Bitcoin will die or the Dollar will die.

[dexX7]

2,3k buy some seconds ago. New daily high: 117.10 USD.

[Pale Phoenix]

I was actually referring to comments about lag being caused by the trading engine having to check funds. I don't know at which stage of the process this was occurring and am not trying to spread any FUD. It was discussed here and someone probably knows the answer better than me

Yeah, I think that's what the announcement dexX7 posted is saying.

If I'm reading it right, prior to April 17th you could place an order without the funds to clear it in your account, and Gox would queue the order and check the funds later, just prior to execution, I'm guessing. Now, they are checking funds on order submission, which they they say will help with system performance.

Edit: crazy spelling

[DougTanner]

Looks like it broke through this time.

[Pale Phoenix]

Either Bitcoin will die or the Dollar will die.

This probably isn't the place for an in depth philosophical discussion, so I'll just say that I don't at all believe those are the only two possibilities. Party on.