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

[ChartBuddy]

[S3052]

If Japanese people are smart , they can bring the arbitrage gap down significantly:

Buying BTC at bitstamp, bitfinex or other exchanges , then sell BTC at MtGox in JPY, and finally withdraw  JPY within Japan

[Spaceman_Spiff]

If Japanese people are smart , they can bring the arbitrage gap down significantly:

Buying BTC at bitstamp, bitfinex or other exchanges , then sell BTC at MtGox in JPY, and finally withdraw  JPY within Japan

that will bring down the price of btc's in Yen, won't solve the USD price from being high (unless it is somehow possible to convert dollars to yen at gox).

[Spaceman_Spiff]

that will bring down the price of btc's in Yen, won't solve the USD price from being high (unless it is somehow possible to convert dollars to yen at gox).

You can buy from someone in USD using EUR.

So you are saying I can convert euros to usd in mtgox?  I highly doubt that is a standard practice to be honest.
Maybe people with huge accounts can ask for special service.

Maybe you meant that BTC connects all currencies in gox, but that still doesn't change anything.

[01BTC10]

that will bring down the price of btc's in Yen, won't solve the USD price from being high (unless it is somehow possible to convert dollars to yen at gox).

You can buy from someone in USD using EUR.

So you are saying I can convert euros to usd in mtgox?  I highly doubt that is a standard practice to be honest.
Maybe people with huge accounts can ask for special service.

Maybe you meant that BTC connects all currencies in gox, but that still doesn't change anything.

Yes they convert currency for 2.5% fee. If I send Canadian dollar without a Canadian account they will convert to USD.

[ChartBuddy]

[Spaceman_Spiff]

that will bring down the price of btc's in Yen, won't solve the USD price from being high (unless it is somehow possible to convert dollars to yen at gox).

You can buy from someone in USD using EUR.

So you are saying I can convert euros to usd in mtgox?  I highly doubt that is a standard practice to be honest.
Maybe people with huge accounts can ask for special service.

Maybe you meant that BTC connects all currencies in gox, but that still doesn't change anything.

Yes they convert currency for 2.5% fee. If I send Canadian dollar without a Canadian account they will convert to USD.

Oh, I didn't know that, thanks.

[ChartBuddy]

[lucas.sev]

heh, 2k bought an immedieatle walls set up at 112

[Tzupy]

On bitcoincharts it looks like it went up to 114, I think clarkmoody is not working in real time.
PS. Refreshed clarkmoody, not it shows corrected to 114.

[01BTC10]

http://bitcoinwisdom.com/markets/mtgox/btcusd

Here it's say 114

[Its About Sharing]

BOOM !  

Right at the end of a descending triangle ... these big buyers are certainly looking at TA and timing their trades accordingly. That was a make or break point. Could have gone either way. Someone wants it to go up ...

First thing I noticed as well. We learned this on the move up from $65 as well...

[Walsoraj]

it is my friends the winklevii protecting their investment. they have tens of mils $ on gox to play with.

[joesmoe2012]

==== STOP READING IF YOUR IN A SERIOUS MOOD, THIS IS JUST A LAUGH ===


From ABN AMRO's website talking about japanese brokerage services....


"So why is this different from everywhere?  Because in Japan the volume is so low it should be easy to process with the available technology. Consider, a large broker in Japan processing 25,000 transactions per day normally, might peak at 100,000 transactions and struggle to balance each day vs. the exchange.  By contrast the same firm’s brokerage operation in the US might easily process 1,000,000 per day, such that broker firms operating in Japan seem backward by comparison.

As a result in terms of costs, Japanese commission rates for investors are 100x higher than the level that could easily be achieved with technology and process improvements available today."

Ummmmmmmmm so gox, how about more than 10 international SWIFT withdraws a day...?

[Walsoraj]

How many months has it been since we've seen real REAL action on a weekend? This could be an omen

[ChartBuddy]

[joesmoe2012]

So long as we can't move fiat around to the largest exchange, what difference does it make if its a weekend?

Bank transfers don't go out any day of the week, so what's slowing things down on the weekend? Seems that people would have more time to trade since it's a weekend.

[ElectricMucus]

Market is starting to look erratic, capitulation is coming.

[Wekkel]

Market is starting to look erratic, capitulation is coming.

You mean down?

[ElectricMucus]

Market is starting to look erratic, capitulation is coming.

You mean down?

Yes, enjoy the show.