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

[solex]

Why do we care, it will be a good thing, pay down the national debt. As long as police/fire operate, it will be ok. NSA could use a day off.

We care because it doesn't pay down the national debt. It actually raises it in 3 ways:
1) We actually DON'T collect money the government is due that day. I.e, we miss out on some income.
2) We delay spending that can cost more in the future, think like 'late fees'.
3) We erode confidence in the government resulting in having to potentially pay higher interest rates in the future.

In general, doing nothing is pretty much the worst way of getting out of debt ever.

I am far more interested in Bitcoin revolutionizing the world economy for the 21st century, which is much more important than Obozo and the Congresscritters who can't even run a circus with a balanced budget using $2,200 billion of tax revenue.

[prophetx]

i have noticed that there always appears to be a run up in price prior to the 1st of the month... wonder if the same is happening again

[uyo]

Just a piece of speculation, nothing that I advocate, but I believe I'm not alone to think about this.

Gox is likely sitting at nice stash of btc, and if they are insolvent, they might want to sell large portion of btc at the highest possible price.
So gox manipulates the price and makes others to follow, until volume there is enough high to make them so.
Rising price can also induce more interest in bitcoin and thus influx of newcomers buying into btc (most of them may not be buying at gox, but still easing their effort by eating sell walls at other exchanges). Also, here could be helpful the secondmarket news, to which the rally would be accredited in media, thus finding more plausible and bullish explanation for the raise.
Where that goes is clear. In later stage of rally gox starts to dump (not only on their own exchange of course). Also more players exit their positions. With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.

[wachtwoord]

Just a piece of speculation, nothing that I advocate, but I believe I'm not alone to think about this.

Gox is likely sitting at nice stash of btc, and if they are insolvent, they might want to sell large portion of btc at the highest possible price.
So gox manipulates the price and makes others to follow, until volume there is enough high to make them so.
Rising price can also induce more interest in bitcoin and thus influx of newcomers buying into btc (most of them may not be buying at gox, but still easing their effort by eating sell walls at other exchanges). Also, here could be helpful the secondmarket news, to which the rally would be accredited in media, thus finding more plausible and bullish explanation for the raise.
Where that goes is clear. In later stage of rally gox starts to dump (not only on their own exchange of course). Also more players exit their positions. With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.

MtGox' market share is worth so much more than what they could gain with such a scheme.

[Walsoraj]

Just a piece of speculation, nothing that I advocate, but I believe I'm not alone to think about this.

Gox is likely sitting at nice stash of btc, and if they are insolvent, they might want to sell large portion of btc at the highest possible price.
So gox manipulates the price and makes others to follow, until volume there is enough high to make them so.
Rising price can also induce more interest in bitcoin and thus influx of newcomers buying into btc (most of them may not be buying at gox, but still easing their effort by eating sell walls at other exchanges). Also, here could be helpful the secondmarket news, to which the rally would be accredited in media, thus finding more plausible and bullish explanation for the raise.
Where that goes is clear. In later stage of rally gox starts to dump (not only on their own exchange of course). Also more players exit their positions. With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.

MtGox' market share is worth so much more than what they could gain with such a scheme.

Gox is capable of making all kinds of idiotic business moves.

[TERA]

This gox run, after reaching a $19-$22 gap with other exchanges, have caused prices to finally break out over key chart levels on other exchanges and eat through the endless resistance walls.  However, this break out is short lived, on low volume, and lacking bid support. Now prices are going down again, as if nothing happened... Will this rally succeed?

And are we supposed to believe that someone is still wiring millions of usd into gox?

[uyo]

Just a piece of speculation, nothing that I advocate, but I believe I'm not alone to think about this.

Gox is likely sitting at nice stash of btc, and if they are insolvent, they might want to sell large portion of btc at the highest possible price.
So gox manipulates the price and makes others to follow, until volume there is enough high to make them so.
Rising price can also induce more interest in bitcoin and thus influx of newcomers buying into btc (most of them may not be buying at gox, but still easing their effort by eating sell walls at other exchanges). Also, here could be helpful the secondmarket news, to which the rally would be accredited in media, thus finding more plausible and bullish explanation for the raise.
Where that goes is clear. In later stage of rally gox starts to dump (not only on their own exchange of course). Also more players exit their positions. With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.

MtGox' market share is worth so much more than what they could gain with such a scheme.

Hypothetically, if gained profit could help them to resolve the issue with withdrawals, their decline in the market share would stop.

[solex]

Just a piece of speculation, nothing that I advocate, but I believe I'm not alone to think about this.

Gox is likely sitting at nice stash of btc, and if they are insolvent, they might want to sell large portion of btc at the highest possible price.
So gox manipulates the price and makes others to follow, until volume there is enough high to make them so.
Rising price can also induce more interest in bitcoin and thus influx of newcomers buying into btc (most of them may not be buying at gox, but still easing their effort by eating sell walls at other exchanges). Also, here could be helpful the secondmarket news, to which the rally would be accredited in media, thus finding more plausible and bullish explanation for the raise.
Where that goes is clear. In later stage of rally gox starts to dump (not only on their own exchange of course). Also more players exit their positions. With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.

MtGox' market share is worth so much more than what they could gain with such a scheme.

Hypothetically, if gained profit could help them to resolve the issue with withdrawals, their decline in the market share would stop.

Also, MtGox does not influence the broad trend. Check out this chart and spot the period when MtGox was closed for 8 days, when it had a much larger market share (80%) than today.

http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2011-05-02zeg2011-09-01ztgSzm1g10zm2g25zv

[uyo]

Just a piece of speculation, nothing that I advocate, but I believe I'm not alone to think about this.

Gox is likely sitting at nice stash of btc, and if they are insolvent, they might want to sell large portion of btc at the highest possible price.
So gox manipulates the price and makes others to follow, until volume there is enough high to make them so.
Rising price can also induce more interest in bitcoin and thus influx of newcomers buying into btc (most of them may not be buying at gox, but still easing their effort by eating sell walls at other exchanges). Also, here could be helpful the secondmarket news, to which the rally would be accredited in media, thus finding more plausible and bullish explanation for the raise.
Where that goes is clear. In later stage of rally gox starts to dump (not only on their own exchange of course). Also more players exit their positions. With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.

MtGox' market share is worth so much more than what they could gain with such a scheme.

Hypothetically, if gained profit could help them to resolve the issue with withdrawals, their decline in the market share would stop.

Also, MtGox does not influence the broad trend. Check out this chart and spot the period when MtGox was closed for 8 days, when it had a much larger market share (80%) than today.

http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2011-05-02zeg2011-09-01ztgSzm1g10zm2g25zv

Hmmmm... I'm not sure how to interpret this. Doesn't it say opposite? Price didn't change much when they re-opened , since everybody was waiting on them?

[solex]

It shows that the market did not crash when mtgox went away. It just continued from the same level as before. It means the following scenario is unlikely.

... With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.

[uyo]

It shows that the market did not crash when mtgox went away. It just continued from the same level as before. It means the following scenario is unlikely.

... With gox losing its market share and ask sum at other exchanges growing, the market peaks and a crash follows.

Oh well, I see. But similar situation can result differently, when circumstances have changed.

[samson]

I reckon the price will break through $150 in the next 24 hours. Just a hunch.

[Argwai96]

hmmm. i thought we were due for a nice healthy fall back to the 120s. i guess, we'll see!! i am not really trading in this market.... 

[yefi]

lol at the Bitstamp wall. Looks like somebody is trying to engineer a nice pullback.

[SheHadMANHands]

lol at the Bitstamp wall. Looks like somebody is trying to engineer a nice pullback.

This has been happening for a few days.  Gox has appeared to just be ignoring (and inevitably someone eats down the wall).

[yefi]

lol at the Bitstamp wall. Looks like somebody is trying to engineer a nice pullback.

This has been happening for a few days.  Gox has appeared to just be ignoring (and inevitably someone eats down the wall).

Oh, I hadn't seen this before. I must be slacking in my wall-watching skills.

[SheHadMANHands]

lol at the Bitstamp wall. Looks like somebody is trying to engineer a nice pullback.

This has been happening for a few days.  Gox has appeared to just be ignoring (and inevitably someone eats down the wall).

Oh, I hadn't seen this before. I must be slacking in my wall-watching skills.

Yes.. someone really trying to drive the price down.  Especially right now lol

[MikeH]

if you guys haven't notice the US federal government will be shut down on tuesday. The democrats/republicans war is going to be fun. And that is why gold, silver and yes BTC are running. It should be a fun day tomorrow. I predict $200 BTC this week

interesting timing, people have been claiming a big event to go down in FEMA region 3 October 1st for quite a while based on a whole host of emergency supply contracts, military training etc all to be completed by late September to October 1st, I guess we'll soon see.

[Wary]

Difference between stamp and gox 20$. Something happened?

[MikeH]

http://www.snopes.com/politics/conspiracy/fema3.asp

That may be correct but snopes has proven to be an unreliable and/or corrupt source..  I'm not going to bother looking into it more because as I said we'll soon see and I don't live there.