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

[derpinheimer]

Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.

Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)

Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!

If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?

[TERA]

and where oh where have all the wall watchers gone, plays in the background.

The walls have moved over to Bitstamp.

[prophetx]

fack its like the night before christmas ....

btw not sure if you guys have seen this yet, pretty cool, would be awesome for anyone selling biofuel or dispensing moonshine?

Bitcoin Fluid Dispenser
https://www.youtube.com/watch?v=YGBZxWOwkh4

Yeah I have seen it and laughed at the punchline a few times.

The bit at the beginning where he's listing all the fluids reminds me on an SNL skit.

I like the part where he says...

This could also be useful if the employer does not want to issue the employee a credit card for acquiring fluid during their daily activities

[TERA]

"Red Bull pattern".
Will be confirmed when the second horn is drawn.

So is the second horn drawn now?

[prophetx]

"Red Bull pattern".
Will be confirmed when the second horn is drawn.

So is the second horn drawn now?

Top of 2nd horn is missing

[Miz4r]

Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.

Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)

Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!

If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?

If Gox withdrawals aren't fixed Gox will become irrelevant at some point and Bitstamp will be leading the price. We already see market depth increasing fast at Bitstamp; in just one week bid depth increased from 1.5M to 2.3M. Within 1-2 months from now it will overtake MtGox and these withdrawal problems will no longer distort the market. Only the fiat bag holders on MtGox will keep on insisting that this is a disaster for bitcoin in the hopes of crashing the price so they can buy their way out of Gox.

The other option is that Gox fixes their shit, and in that case coins will flow back to Gox but I don't believe we'll see any kind of crash then either. When too many people expect something you can be pretty sure it won't happen.

[oda.krell]

Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.

Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)

Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!

If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?

If Gox withdrawals aren't fixed Gox will become irrelevant at some point and Bitstamp will be leading the price. We already see market depth increasing fast at Bitstamp; in just one week bid depth increased from 1.5M to 2.3M. Within 1-2 months from now it will overtake MtGox and these withdrawal problems will no longer distort the market. Only the fiat bag holders on MtGox will keep on insisting that this is a disaster for bitcoin in the hopes of crashing the price so they can buy their way out of Gox.

The other option is that Gox fixes their shit, and in that case coins will flow back to Gox but I don't believe we'll see any kind of crash then either. When too many people expect something you can be pretty sure it won't happen.

I have that line, embroidered and framed, hanging right over my bed.

[gandhibt]

There's a lot of people who are holding and waiting the price to go up.

[derpinheimer]

There's a lot of people who are holding and waiting the price to go up.

Because no one can sell.. since there is nothing to back gox usd

[RationalSpeculator]

I kinda feel like this is a key moment in the market.  We might break and retest the lows, or just blast higher.

He says as the tumble weed blows past the empty saloon.

and where oh where have all the wall watchers gone, plays in the background.

funny 

[MoreFun]

Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.

Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)

Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!

If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?

If Gox withdrawals aren't fixed Gox will become irrelevant at some point and Bitstamp will be leading the price. We already see market depth increasing fast at Bitstamp; in just one week bid depth increased from 1.5M to 2.3M. Within 1-2 months from now it will overtake MtGox and these withdrawal problems will no longer distort the market. Only the fiat bag holders on MtGox will keep on insisting that this is a disaster for bitcoin in the hopes of crashing the price so they can buy their way out of Gox.

The other option is that Gox fixes their shit, and in that case coins will flow back to Gox but I don't believe we'll see any kind of crash then either. When too many people expect something you can be pretty sure it won't happen.

I have that line, embroidered and framed, hanging right over my bed.

To many people here expect BTC to be worth thousands.

Emm... What?

[prophetx]

Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.

Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)

Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!

If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?

If Gox withdrawals aren't fixed Gox will become irrelevant at some point and Bitstamp will be leading the price. We already see market depth increasing fast at Bitstamp; in just one week bid depth increased from 1.5M to 2.3M. Within 1-2 months from now it will overtake MtGox and these withdrawal problems will no longer distort the market. Only the fiat bag holders on MtGox will keep on insisting that this is a disaster for bitcoin in the hopes of crashing the price so they can buy their way out of Gox.

The other option is that Gox fixes their shit, and in that case coins will flow back to Gox but I don't believe we'll see any kind of crash then either. When too many people expect something you can be pretty sure it won't happen.

I have that line, embroidered and framed, hanging right over my bed.

To many people here expect BTC to be worth thousands.

Emm... What?

too many people think btc is a ponzi scheme

too many people expect gravity to work

too many people expect the sun to come up

too many people expect they will wake up tomorrow

gotta love logical fallacies

[SheHadMANHands]

Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.

Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)

Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!

If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?

If Gox withdrawals aren't fixed Gox will become irrelevant at some point and Bitstamp will be leading the price. We already see market depth increasing fast at Bitstamp; in just one week bid depth increased from 1.5M to 2.3M. Within 1-2 months from now it will overtake MtGox and these withdrawal problems will no longer distort the market. Only the fiat bag holders on MtGox will keep on insisting that this is a disaster for bitcoin in the hopes of crashing the price so they can buy their way out of Gox.

The other option is that Gox fixes their shit, and in that case coins will flow back to Gox but I don't believe we'll see any kind of crash then either. When too many people expect something you can be pretty sure it won't happen.

I have that line, embroidered and framed, hanging right over my bed.

To many people here expect BTC to be worth thousands.

Emm... What?

That might be a popular opinion on this forum, but it's certainly not mainstream otherwise.

[mechs]

Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.

Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)

Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!

If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?

If Gox withdrawals aren't fixed Gox will become irrelevant at some point and Bitstamp will be leading the price. We already see market depth increasing fast at Bitstamp; in just one week bid depth increased from 1.5M to 2.3M. Within 1-2 months from now it will overtake MtGox and these withdrawal problems will no longer distort the market. Only the fiat bag holders on MtGox will keep on insisting that this is a disaster for bitcoin in the hopes of crashing the price so they can buy their way out of Gox.

The other option is that Gox fixes their shit, and in that case coins will flow back to Gox but I don't believe we'll see any kind of crash then either. When too many people expect something you can be pretty sure it won't happen.

I have that line, embroidered and framed, hanging right over my bed.

To many people here expect BTC to be worth thousands.

Emm... What?

That might be a popular opinion on this forum, but it's certainly not mainstream otherwise.

Bitcoin has two distinct methods to raise its BTC/Fiat ratio:
1. Expansion of the Bitcoin protocol as a system of payment
2. Devaluation of Fiat currency by central banks

There is also a bear argument, but being a bull I will not repeat such rubbish!

[SheHadMANHands]

You forgot increased speculation (buy and holders), unless you consider those folks in category one.  This increases as knowledge of bitcoin increases and more (new) long term bulls invest their fiat.

[bitcodo]

Who is that Bernanke guy?

Treasury notes down, silver up.

And bitcoin?

[NamelessOne]

We appear to be breaking up out of the triangle that has been forming over the last week. We shall see if it actually happens.

[thezerg]

When too many people expect something you can be pretty sure it won't happen.

I have that line, embroidered and framed, hanging right over my bed.

That's a keeper.

When too many people expect something and can profit through an action that dampens the effect, you can be pretty sure it won't happen.

[gizmoh]

Who is that Bernanke guy?

Treasury notes down, silver up.

And bitcoin?

It is upping , i can sense our smart whale waking up..

[thezerg]

We appear to be breaking up out of the triangle that has been forming over the last week. We shall see if it actually happens.

without whale activity either... could get very interesting if a whale or 2 fears missing the boat.

I wonder if the volume this past week reflects actual economic activity, rather then trading/speculation.  The market is neither too high or two low to encourage trading... and Gox problems discourage arb.  No big whale positions being taken.  What's left except actual economic activity?