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

[gandhibt]

Looks like we might be heading lower, a lot of new asks turned up:

Are you sure you are reading that chart correctly?

LOL =D

[hazek]

Looks like we might be heading lower, a lot of new asks turned up:

Are you sure you are reading that chart correctly?

LOL =D

Of course I was reading it correctly, except that the image posted here is being updated and my comment is now outdated.

[mah87]

Looks like we might be heading lower, a lot of new asks turned up:

Where does this chart come from ?

[TheKoziTwo]

The report itself says:
"The sharp deterioration of the public finances in many countries has revived interest in a "capital levy"— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). … The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away. … The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth. (page 49)"

It's really quite astonishing how openly cynical they dare to appear. Sounds like a bunch of evil thugs masterminding a plan on how to best steal the most amount of money from people with the least amount of resistance. And that is exactly what's going on. When people wake up to this massive theft happening we're going to see manic capital flight into bitcoin. As terrible as this is for the people being victims it's also extremely bullish for bitcoin. Can't do much than secretly cheer this craze on. The more they steal the more attractive the ultimate tax haven of digital currencies will become.

Where does this chart come from ?

http://www.blockchained.com

[ChartBuddy]

[Pruden]

The report itself says:
"The sharp deterioration of the public finances in many countries has revived interest in a "capital levy"— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). … The conditions for success are strong, but also need to be weighed against the risks of the alternatives, which include repudiating public debt or inflating it away. … The tax rates needed to bring down public debt to precrisis levels, moreover, are sizable: reducing debt ratios to end-2007 levels would require (for a sample of 15 euro area countries) a tax rate of about 10 percent on households with positive net wealth. (page 49)"

It's really quite astonishing how openly cynical they dare to appear. Sounds like a bunch of evil thugs masterminding a plan on how to best steal the most amount of money from people with the least amount of resistance. And that is exactly what's going on. When people wake up to this massive theft happening we're going to see manic capital flight into bitcoin. As terrible as this is for the people being victims it's also extremely bullish for bitcoin. Can't do much than secretly cheer this craze on. The more they steal the more attractive the ultimate tax haven of digital currencies will become.

As well as telemaco, you make the mistake of thinking "they" would openly discuss the details of their plan if they were seriously thinking about it.

Alternate view: A bunch of economists with big payrolls have to justify their salaries and write reports. In them, they touch on hot topics, one of them being haircuts.

[ChartBuddy]

[Sitarow]

[Sword Smith]

Wedge formation on Mt. Gox. That supposedly means that a move out of the wedge is a significant indicator for future price movements.

[Sitarow]

Wedge formation on Mt. Gox. That supposedly means that a move out of the wedge is a significant indicator for future price movements.

Good observation however sentiment can change rather quickly.

BTW anyone seen this service? Recharge your cell phone time with BTC?

http://btctele.com/

[Sitarow]

Wedge formation on Mt. Gox. That supposedly means that a move out of the wedge is a significant indicator for future price movements.

Good observation however sentiment can change rather quickly.

BTW anyone seen this service? Recharge your cell phone time with BTC?

http://btctele.com/

Nope. But in thailand bahtcoin.com has done it for two years.

Thank you for that.
They have a range of useful services.

[Loozik]

From Spanish Bank online page today:

15K € limitation /transfer
30K € limitation /day

haircut is coming as recommended by IMF in their last PDF "Taxing Times" from October 13th

http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf

(page 49 that by the way it's title is "Taxing our way out of - or into - trouble?")



Check in the next days in your bank, you might find similar news maybe?

Serious stuff. I will run on my bank tomorrow.

[spooderman]

We're on the move again.

[Spaceman_Spiff]

We're on the move again.

Where?

[spooderman]

We're on the move again.

Where?

210 by wednesday

[Loozik]

We're on the move again.

Where?

210 by wednesday

Last time I trolled was https://bitcointalk.org/index.php?topic=178336.msg2982733#msg2982733 when price reached 124 on Gox. I trolled the price might go down to 85 on BTC-e and to 90 on Bitstamp. It went to 85 and 75 respectively (due to Silk Road event).

The way I see things now (just trolling): about 50% odds of going to at least 360 very quickly and about 50% to go down below the last low of 110 on Gox. We'll know soon.

The way I see other things (just trolling) which MIGHT be of interest is 80% of S&P 500 will develop the first bearish wave within a few days. 80% probability is too low to go short right now but in a few days 80% probability MIGHT turn 99% probability.

[NewLiberty]

A two day base behind us.  Maybe its the weekend.

[arklan]

A two day base behind us.  Maybe its the weekend.

What possible proof could you have of this supposed weekend?

[Richy_T]

As well as telemaco, you make the mistake of thinking "they" would openly discuss the details of their plan if they were seriously thinking about it.

Alternate view: A bunch of economists with big payrolls have to justify their salaries and write reports. In them, they touch on hot topics, one of them being haircuts.

Nice theory. Unfortunately, something like this is the *inevitable* outcome of current economic policies. They could always hyper-inflate but it looks like they're trying to avoid that where possible. It tends to make it a bit harder to bleed the people dry.

[TERA]

Bid depths have exploded overnight. On gox, about $2M bid depth was just added between $165 and $175.  On btcchina, about ¥2M have been added. Bitstamp added another $100K. Last time this happened, we took off from $110.