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

[thezerg]

Interesting... bitstamp and cbx rallying a couple percent while Gox flatter; stuck under 120 but no real wall until 125.  This is the opposite of the typical divergence where gox rallies and the others are flat.

[gandhibt]

I would post BECAUSE OF HIM!

I am a harmless being. I don't want to cause any headaches on his end nor want to increase his mushroom intake

Why not?

[ag@th0s]

Forgive me as this is going to be a bit vague, and I'm fairly new - but trying to understand the divergence between Bitstamp and MtGox it occurred to me that maybe the "history" of the market movers on each Exchange is different and that may explain the gap.  

Specifically - I seem to remember comments a few months ago about a big lump of coins that ended up in Gox at a particular price (can't remember if it was $130 or $180) because of some event - and they were sitting on the ask side waiting for the market to recover as we dropped to $60 ish in July. i can't remember the event, but it was a shit load of coins.

Is it possible that if you're a really major player - and you understand how to move the market but arrived in a losing position for some reason - that you sell out at a loss - wait - and then play back in, in a structured way, to boost the price back to a level where you can make profit (even if you can't get it out of the Exchange)?  It doesn't matter if you can't take it out as long as you can sell at your entry point, because selling will crash the price which would enable you to buy back in, and then exit Gox to exchanges that are more functional?

<a few moments later>  So what I'm saying is players on Gox are trying to reach a price - whereas traders on Bitstamp are trying to find it?

[molecular]

Some important info is expected to be revealed about the fed tapering issue tomorrow - what do you guys think the outcome will be? Will the fed effectively taper or not in september?

If they - against all odds - announce tapering, we might see a drop in bitcoin (and all other real assets)

[molecular]

Interesting... bitstamp and cbx rallying a couple percent while Gox flatter; stuck under 120 but no real wall until 125.  This is the opposite of the typical divergence where gox rallies and the others are flat.

arbitrageurs starting their action?

[Adrian-x]

Some important info is expected to be revealed about the fed tapering issue tomorrow - what do you guys think the outcome will be? Will the fed effectively taper or not in september?

If they - against all odds - announce tapering, we might see a drop in bitcoin (and all other real assets)

Why? Where will the Fiat go - paying down debt, where?

[Ray Anastasio]

Interesting... bitstamp and cbx rallying a couple percent while Gox flatter; stuck under 120 but no real wall until 125.  This is the opposite of the typical divergence where gox rallies and the others are flat.

Cbx has been trading about 10% under gox, so it's correcting to that level.

[Spaceman_Spiff]

Some important info is expected to be revealed about the fed tapering issue tomorrow - what do you guys think the outcome will be? Will the fed effectively taper or not in september?

If they - against all odds - announce tapering, we might see a drop in bitcoin (and all other real assets)

I think immediate effects of macro-economics on bitcoin are still small, maybe after next bubble.

[Adrian-x]

Forgive me as this is going to be a bit vague, and I'm fairly new - but trying to understand the divergence between Bitstamp and MtGox it occurred to me that maybe the "history" of the market movers on each Exchange is different and that may explain the gap.  

Specifically - I seem to remember comments a few months ago about a big lump of coins that ended up in Gox at a particular price (can't remember if it was $130 or $180) because of some event - and they were sitting on the ask side waiting for the market to recover as we dropped to $60 ish in July. i can't remember the event, but it was a shit load of coins.

Is it possible that if you're a really major player - and you understand how to move the market but arrived in a losing position for some reason - that you sell out at a loss - wait - and then play back in, in a structured way, to boost the price back to a level where you can make profit (even if you can't get it out of the Exchange)?  It doesn't matter if you can't take it out as long as you can sell at your entry point, because selling will crash the price which would enable you to buy back in, and then exit Gox to exchanges that are more functional?

<a few moments later>  So what I'm saying is players on Gox are trying to reach a price - whereas traders on Bitstamp are trying to find it?

Huge market manipulation is evident, in my opinion, but the game evolves, there are those who have hundreds of thousands of coins, and those who have thousands and hundreds.

Manipulating the market requires effort, and long deep pockets. Those who have the ability to do it have more at stake than just making money, and predicting there moves is a gamble.

Everything that happens here makes Bitcoin more resilient and stronger, so it's best to just go about ones business and ignore the conspiracies.

[ChartBuddy]

[joesmoe2012]

Where does he say that's more than was seized?

How much was seized in the Wells Fargo account? If 2.9 Million was seized from dwolla, i would expect at least a similiar balance in the WF account (if not more).

Also, how much have they spent on legal defense? 8 mil goes pretty quick when your fighting international terrorism charges.

This question doesn't make sense. $2.9 Million was seized - they made $8 Million recently.

There are no international terrorism charges - you pulled that straight out of your ass.

Really? Department of Homeland Defense seized their assets....Are you familiar with what the department of homeland defenses job is?

Furthermore, has nothing to do with me, so i'm not even going to address the personal attack part of your statement, that's not hte purpose here.

[joesmoe2012]

I didn't know we were playing baseball.

I'm out.

I thought we were playing magic the gathering, maybe i have the wrong forum.

[Chalkbot]

Yes, they'll keep it afloat as long as they like but i think George Soros knows where the markets are heading with a $1.25 billion put on the S&P 500. It certainly feels like a storm is brewing and i hope it will be a wild ride   
http://blogs.marketwatch.com/thetell/2013/08/15/soross-biggest-holding-a-bearish-call-on-the-sp-500/

Hmm, interesting. I don't keep up with the stock market much anymore. I gather Soros has a good track record for this sort of thing? The article mentions other occasions where he made similar calls that turned out to be good, but I assume that there were some not so good ones along the way as well. If he's taking this position, it basically means that he thinks tapering is going to happen, right? Or is the size of the put indicative that he only means to hedge his current holdings? I have no idea how much $1.25 billion is to this guy.

[JimboToronto]

I didn't know we were playing baseball.

I'm out.

I thought this was the game day thread. 

[Spaceman_Spiff]

I didn't know we were playing baseball.

I'm out.

I thought we were playing magic the gathering, maybe i have the wrong forum.

We are, Magical Tux played a Delaying Shield, but now his resources are all tapped out...

[ag@th0s]

Forgive me as this is going to be a bit vague, and I'm fairly new - but trying to understand the divergence between Bitstamp and MtGox it occurred to me that maybe the "history" of the market movers on each Exchange is different and that may explain the gap.  

Specifically - I seem to remember comments a few months ago about a big lump of coins that ended up in Gox at a particular price (can't remember if it was $130 or $180) because of some event - and they were sitting on the ask side waiting for the market to recover as we dropped to $60 ish in July. i can't remember the event, but it was a shit load of coins.

Is it possible that if you're a really major player - and you understand how to move the market but arrived in a losing position for some reason - that you sell out at a loss - wait - and then play back in, in a structured way, to boost the price back to a level where you can make profit (even if you can't get it out of the Exchange)?  It doesn't matter if you can't take it out as long as you can sell at your entry point, because selling will crash the price which would enable you to buy back in, and then exit Gox to exchanges that are more functional?

<a few moments later>  So what I'm saying is players on Gox are trying to reach a price - whereas traders on Bitstamp are trying to find it?

Huge market manipulation is evident, in my opinion, but the game evolves, there are those who have hundreds of thousands of coins, and those who have thousands and hundreds.

Manipulating the market requires effort, and long deep pockets. Those who have the ability to do it have more at stake than just making money, and predicting there moves is a gamble.

Everything that happens here makes Bitcoin more resilient and stronger, so it's best to just go about ones business and ignore the conspiracies.

Sure - it's just there's been some enormous buys that people seem to have taken as irrational and against the TA, and I wonder if the reason for that is that we have no idea about their motive.  Day traders obviously try to reconcile on short time-scales, if big players are in the market at a loss (and particularly if they have additional reserves) and are trying to reach a price, it's probably worth trying to work out what that price is.

[molecular]

Where does he say that's more than was seized?

How much was seized in the Wells Fargo account? If 2.9 Million was seized from dwolla, i would expect at least a similiar balance in the WF account (if not more).

Also, how much have they spent on legal defense? 8 mil goes pretty quick when your fighting international terrorism charges.

This question doesn't make sense. $2.9 Million was seized - they made $8 Million recently.

There are no international terrorism charges - you pulled that straight out of your ass.

Really? Department of Homeland Defense seized their assets....Are you familiar with what the department of homeland defenses job is?

Terrorizing the homelands inhabitants, of course.

[molecular]

Some important info is expected to be revealed about the fed tapering issue tomorrow - what do you guys think the outcome will be? Will the fed effectively taper or not in september?

If they - against all odds - announce tapering, we might see a drop in bitcoin (and all other real assets)

Why? Where will the Fiat go - paying down debt, where?

Not sure exactly where it goes, but interest rates will rise as fiat becomes more valuable (at least in perception or expectation). It would be interesting to see wether bitcoin would be affected, but I seem to remember bitcoin took a hit together with gold/silver last time Ben hinted at the possibility of tapering. I don't think they have the balls to do anything more, though.

[ChartBuddy]

[Adrian-x]

...and are trying to reach a price, it's probably worth trying to work out what that price is.

The price is always the next order of magnitude from where you are now, until you exhaust your energy. Just like our current economic model exhibits parasitic behavior, on our finite planet. Bitcoin is the equivalent parasite to our existing economic parasite.

You win the game of Magic the Gathering when the infection has taken hold, the infection spreads by profiting off speculation (in this thread) and other memes elsewhere. You can always play the immunity card by holding XBT.