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

[BTCThousandaire]

http://www.youtube.com/watch?v=687P-ngSVKU

This is why China should love Bitcoin.. Cash is too difficult.

[byronbb]

Interesting chart from bitcoinwisdom.com.
Notice how it "predicts" the future price (green and red line).
Let's see if it is connected to the BTC price over at Bitstamp.

It would be cool to see a third line as an average of the two. This might be my new favourite site actually.

[navigator]

I just noticed this while checking virwox, did this really happen?

[keewee]

https://i.imgur.com/aIqkFtI.png
https://i.imgur.com/mP10jxQ.png

I just noticed this while checking virwox, did this really happen?

It's odd that if you narrow the range to that day only that there is no large volume spike at that time but about 1/2 an hour later. Glitch?

[dexX7]

Unless you really believe people are hording Bitcoins for the day that you can use it to buy anything in the world like you can fiat.

There's very little reason right now for _anyone_ to buy a Bitcoin in exchange for fiat unless they are buying for the exclusive purpose of selling them back for extra fiat in the future.

Bitcoin is not a fully functional, usable currency at the present time. The reason is simply because you cannot buy very many things with it right now, and of the things you can buy, almost none of them can't _also_ be bought by fiat.

One single 51% attack, one hard fork, or one more huge speculative bubble that costs newcomers their shirts can/will severely damage or destroy Bitcoin's long-term prospects.

Like in 2011, when if went from 32 to 2? I'm wondering, why Bitcoin is still alive.

You're right by saying it's mostly major currency -> Bitcoin -> few goods / major currency, but you should consider that Bitcoin allows value transfer to anywhere and at any time. Kipochi as Bitcoin <-> M-PESA exchange in Kenya is a great example and beats any competitor out there to send value from and to Kenya. Let's see if they can gain some popularity there.

[420]

http://www.youtube.com/watch?v=687P-ngSVKU

This is why China should love Bitcoin.. Cash is too difficult.

EXACT CHANGE!

[Frozenlock]

It appears I've gotten a bad reputation amongst some bulls. I was spreading FUD or whatnot.
Well, now's the time to troll the bears and test their position!
Will you really hold your ground? 

The crash of 2012:



I dug up a little gem from those times:

We're in "return to normal" phase.
We'll go to $11 - $12 first before we roller coaster back to $5.

This will be funny, because we'll repeat history twice.

Some were expecting cheap coins. ($5)

Yup, it was all 2011 again.
Except it wasn't.



I would also invite the reader to notice the timeframe.

Now if you'll excuse me, I have bears to troll. 

[navigator]

keewee, I see now that the volume wasn't linked after looking at a shorter time frame. Don't know if glitch because it doesn't go all the way down. Could probably use sierrachart bridge to look at trade data.

[420]

just took 4 months to come out of the 2012 'crash' back to the top right

so. april plus 4.......... august 2013

[Frozenlock]

Oh goody, even adamstgBit was calling a crash.  

It makes sense that there is a lot of speculation with the hash rate change and ASIC's coming out.

There are 7,200 BTC issued per day (well, until around Nov 30th, then 3,600 BTC issued per day) -- regardless of the amount of mining (with the exception of the few days until difficulty adjusts for any rise or fall).

Why would the hash rate and ASICs coming out affect the Bitcoin exchange rate?

it wont. not really

what will happen is all the miners that held off selling for the reward drop, will panic sell when they see the reward halfing had little effect on price + mining with the new ASICs is going to be barely profitable, that's one more reason to sell off the horde.

how much coins have been mined for hording?
i think half of all coins is not a bad guess... that's 5million coins.... HELLO!

supply with literally double over night.

The Plunge! its coming... are you ready  

It plunged upward! 

[navigator]

Nevermind about virwox, I think it was a glitch.

Here is the trade data
virwoxSLL 2013-07-06 07:07:52 1373112472 18309.0 0.28
virwoxSLL 2013-07-06 07:07:52 1373112472 18309.0 1.11
virwoxSLL 2013-07-06 07:02:06 1373112126 325.0 0.11
virwoxSLL 2013-07-06 07:02:04 1373112124 325.0 0.1
virwoxSLL 2013-07-06 07:02:03 1373112123 325.0 0.39
virwoxSLL 2013-07-06 07:02:01 1373112121 325.0 0.61
virwoxSLL 2013-07-06 07:01:59 1373112119 325.0 0.44
virwoxSLL 2013-07-06 07:01:58 1373112118 325.0 1.88
virwoxSLL 2013-07-06 07:01:56 1373112116 325.0 4.88
virwoxSLL 2013-07-06 07:01:47 1373112107 325.0 1.18
virwoxSLL 2013-07-06 07:01:46 1373112106 17710.0 0.0
virwoxSLL 2013-07-06 07:01:46 1373112106 17740.0 0.5

[Frozenlock]

It's not fun if nobody's playing. 

[BitcoinAshley]

Frozenlock, that 2012 crash is not as formidable when you consider that the run up was 6 to $14, a whopping 230% vs our 2013's ~2000% or 2011's ~3000%.

I like the bear-trolling though. "Can you really hold your position?" Certainly keeps folks on their toes.

Heck, to make it even better - I'm leaving for almost 2 weeks with absolutely no access to internet or cell phone. In a few days.

I thought about leaving the PW to one of my exchange accounts with a trusted friend with instructions on when to buy back or sell depending on certain SMA crossovers. But I'm not going to do that. We'lljust  see where we are when I get back 

If BTC goes up again, well, I'm still holding enough so people can't laugh at me. But if it goes down, I'm set too. *popcorn*

[Coinseeker]

This

Kipochi as Bitcoin <-> M-PESA exchange in Kenya

is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.

[ChartBuddy]

[dan99]

moving up surely and slowly...will hit the $80 mark pretty soon..

[octaft]

It's not fun if nobody's playing. 

I would think it's much harder to troll a bear than a bull in this situation. Most bears accept the risk that the price could go up, since their logic is more likely to be grounded in reality. No dreams of 300k BTC in a bears world, for example.

[Wagner2014]

moving up surely and slowly...will hit the $80 mark pretty soon..

easy does it. careful...

[ChartBuddy]

[giszmo]

This

Kipochi as Bitcoin <-> M-PESA exchange in Kenya

is actually the best positive news for Bitcoin I've heard in a long time and something that could actually make Bitcoin the currency it dreams of being.  I think the potential of this, is being greatly underestimated by some.  M-PESA is already doing something like 30% of GDP.  The addition of Bitcoin could push this as high as 50% or more, as people move away from sources required for things like Western Union.  All speculation but if this catches, it could spread like wildfire to other countries. This is actually news worthy and worth keeping a close eye on.

I would agree if kipochi wouldn't look soooo cheap. They have more typos than sentences on their barely professional page and no updates in a while, so I want them to proof themselves first. Their mpesa partner is not affiliated to mpesa aka some guy who's using his private mpesa account to manually funnel transactions?
I call this vaporware and would take bets that they don't process 1000 transactions within the next 3 months or prior to having serious issues. Total noobs trying to do finance at best. Maybe just some pump and dump.