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

[Chang Hum]

Are you guys clocking whats happening to the order book. Multiple, and i mean multiple 0.0100 are being repeatedly entered onto the book at every possible price. Watch the orders close at the current price, increasing and decreasing by 0.0100 every second.

It's Bot spasms

[lucas.sev]

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

[Nightowlace]

Are you guys clocking whats happening to the order book. Multiple, and i mean multiple 0.0100 are being repeatedly entered onto the book at every possible price. Watch the orders close at the current price, increasing and decreasing by 0.0100 every second.

Some person(s) are tryin to jam up the system and cause lag.

[sarc]

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

There's been a sense of apathy for weeks, even with the price increase. Personally, I don't believe there's enough drive left to resist the inevitable 'fully-popped' state that's coming...

[samson]

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

Just like in January this year right ?

[stereotype]

Are you guys clocking whats happening to the order book. Multiple, and i mean multiple 0.0100 are being repeatedly entered onto the book at every possible price. Watch the orders close at the current price, increasing and decreasing by 0.0100 every second.

It's order book spam - it slows the exchange down if someone dumps big and introduces lag.

Yep, i know what it is, just havnt seen it so relentless before. Gox seems to be handling it ok though.

[ShroomsKit]

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

[prof7bit]

I'm half btc half cash now and don't know if to sell or buy.

Keep it at that ratio. If it goes down 20% buy more coins to bring the ratio back to 50/50, if it goes up 20% then sell some coins, always keep it at 50/50. You can even set this up in advance with limit orders and have more free time for fishing.

[lucas.sev]

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

You read 100% correct. There is no Bitcoin economy. (except for silkroad of course) I hope you are not another of hippies preaching that.

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public. I'm repeating myself but I enjoy seeing idealists try to desperately justify their opinion.

[sarc]

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

You read 100% correct. There is no Bitcoin economy. (except for silkroad of course) I hope you are not another of hippies preaching that.

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public

Actually, I got into it for changing quite a bit of currency, but yes, your point is a goodun...

[Jgguy]

Exactly, bitcoin is meant to be used to buy and sell things, not as a store of value like gold. People who bought in thinking it was like gold are now realizing this and selling.

[samson]

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

Add me to this list. I sold mainly in the $160's and I'm looking for cheaper coins. I did a couple of trades since but only made a few thousand USD so I decided it wasn't worth it and I'll just wait for the good prices to come then buy and hold until I dump it all again.

It's dropped a load since I sold already and I have a feeling it's going to drop much further.

[N12]

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

You read 100% correct. There is no Bitcoin economy. (except for silkroad of course) I hope you are not another of hippies preaching that.

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public. I'm repeating myself but I enjoy seeing idealists try to desperately justify their opinion.

Exactly right. Bitcoin has never been a billion dollar market in the first place. The figures most people are touting from Bitpay are hugely inflated because of mining equipment, and the evidence like data on sales of Humble Bundle, Reddit Gold and bitcoinstore suggest that people don't use Bitcoin as a currency in any significant way.

[ShroomsKit]

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

Add me to this list. I sold mainly in the $160's and I'm looking for cheaper coins. I did a couple of trades since but only made a few thousand USD so I decided it wasn't worth it and I'll just wait for the good prices to come then buy and hold until I dump it all again.

It's dropped a load since I sold already and I have a feeling it's going to drop much further.

Right.
Call me crazy but i'd like to see it go up.
But i truly hope Bitcoin completely crashes and everybody loses money and investors will pull out so that you can buy a few dozen cheap coins. I'm like that.

[crumbs]

Exactly, bitcoin is meant to be used to buy and sell things, not as a store of value like gold. People who bought in thinking it was like gold are now realizing this and selling.

People who bought into gold thinking it was a store of value like gold ... oh, wait.  People who bought into ... nevermind.

[ShroomsKit]

As much as I would LOVE it to go to 50, what makes you people think its not a repeat from 3rd of May?

Huh? Why would you love that?

Because this will mean that bubble is largely over and I can buy bitcoins at a price that likely will not halve, split the wallet file into three separate files and forget about checking damn clark moody more often than facebook for a year or two.

So basically you want the whole Bitcoin economy to drop 50% so you can buy a few cheap coins. Did i read that right?

You read 100% correct. There is no Bitcoin economy. (except for silkroad of course) I hope you are not another of hippies preaching that.

The only reason why somebody would go and exchange fiat for bitcoin right now (not counting speculation, store of value) is to spend it on Silkroad. Nobody in right mind would go and exchange it to btc only to buy something they could have bought instantly with traditional methods. And the only thing that they can't, are silkroad goods. YES if you already have bitcoins then you might use them on other stuff, if you mine, you will use them. But this is minority of people. I'm talking about general public. I'm repeating myself but I enjoy seeing idealists try to desperately justify their opinion.

Exactly right. Bitcoin has never been a billion dollar market in the first place. The figures most people are touting from Bitpay are hugely inflated because of mining equipment, and the evidence like data on sales of Humble Bundle, Reddit Gold and bitcoinstore suggest that people don't use Bitcoin as a currency in any significant way.

Uhm, do you even understand where that 1 billion number comes from?

[WikileaksDude]

panic buy happening right now

[hlynur]

I'm half btc half cash now and don't know if to sell or buy.

Keep it at that ratio. If it goes down 20% buy more coins to bring the ratio back to 50/50, if it goes up 20% then sell some coins, always keep it at 50/50. You can even set this up in advance with limit orders and have more free time for fishing.

thanks.
that sounds like a plausible advice. will go more fishing soon these three days without any connection to electronic mayhem felt quite good.

[kickinyou]

cant make up my mind if i shuld buy back now or not

I wouldn't do it. I think dumpers just wait for walls to build some support to that they can sell into them. But that's just me

if its like gona be like we think the time for those who gona sell is the time now , if thay dont the price will go up to maby 110.

[Ivanhoe]

crazy times...