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

[prophetx]

No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.

For every Bitcoin bought on MtGox one is sold and that money stays in MtGox waiting to be used again.

I suspect the USD from coins being sold now will be used to buy cheaper coins after the 'correction'.

The Chinese pumper could be buying his own coins over and over gain to inflate the price. With a reasonable chunk of coins this could be done after initially selling only some of them.

that is not entirely true, people in the EU are saying they get their SEPA transfers.  check the irc chat #mtgox and the mtgox withdraw delays thread

but i bet no one in the EU in their right mind would tx money to gox, they are buying on btce or bitstamp

[theonewhowaskazu]

No way can this pump last if no new incoming fiat. Soon as it's gone, IT'S GONE AND WE DIVEEEEEEEEEEEEEEEEE.

For every Bitcoin bought on MtGox one is sold and that money stays in MtGox waiting to be used again.

I suspect the USD from coins being sold now will be used to buy cheaper coins after the 'correction'.

The Chinese pumper could be buying his own coins over and over gain to inflate the price. With a reasonable chunk of coins this could be done after initially selling only some of them.

On the Chinese exchanges, I can see transactions of this nature occurring, but on Gox, it would make no sense, because of the TX fees.

On chinese exchangers the only loss with a pump scheme like this would be the spread times the BTC within the range you're trying to pump by. Which could potentially be very small, given the right market conditions. This means that for very cheap a manipulator could try to "paint the tape" to make BTC look artificially high or low.

[Erdogan]

Third stab on 205.5. Can it be done?

[Nightowlace]

I very much disagree with the MtGox withdraw argument. At this point anyone who was not able to get cash from Gox has realized you can buy on Gox and ship them to another site and take your fiat. Anyone who held on to their coins and or fiat on Gox because of the "huge" price difference up until recently is in a prime spot because at the time MtGox stopped processing withdraws the price was around $99 now the price is over $200 (double where it was) and the price difference between Gox and say Bitstamp has closed to 5%. So if I was one of the guys holding on waiting for Gox to start transferring money again NOW would be a great time. If I held BTC I've doubled, if I held fiat then I am only losing 5% and the way things have been going I would convert fiat, wait a day or two for to gain that 5% back and sell to ash out.

Last but not least, you can pick any multimillionaire, venture capitalist, Chinese, Winklevoss twin you want an attribute the price to him/her or it. If you think for one minute that a venture capitalist is going to sit back and watch their investment shrivel you are dead wrong. The companies, technology, implementation and legal battles being fought over bitcoin are much bigger than you, I, or anyone person on this forum and I can assure you that if, and when a significant price drop occurs they will prop up the market again and restore faith for the rest of the bitcoin community.

I believe that bitcoin is on a rise and will level of without further significant dips once it exceeds a fiat value of $300 USD. At that time we will see large sell offs, major buys, and once that calms it will be a progressive increase with marginal ups and downs. I can't see any down dropping the price more than 3-5% when this happens. My advice to you is buy when you can afford them and sit back and enjoy the ride, we have a long way up.

[DougTanner]

It's China o'clock. 

[Erdogan]

[...]
Last but not least, you can pick any multimillionaire, venture capitalist, Chinese, Winklevoss twin you want an attribute the price to him/her or it. If you think for one minute that a venture capitalist is going to sit back and watch their investment shrivel you are dead wrong. The companies, technology, implementation and legal battles being fought over bitcoin are much bigger than you, I, or anyone person on this forum and I can assure you that if, and when a significant price drop occurs they will prop up the market again and restore faith for the rest of the bitcoin community.
[...]

These people are just like you or the others on this forum, except they have more fiat. Did you think they have divine traits?

[Sword Smith]

Last but not least, you can pick any multimillionaire, venture capitalist, Chinese, Winklevoss twin you want an attribute the price to him/her or it. If you think for one minute that a venture capitalist is going to sit back and watch their investment shrivel you are dead wrong. The companies, technology, implementation and legal battles being fought over bitcoin are much bigger than you, I, or anyone person on this forum and I can assure you that if, and when a significant price drop occurs they will prop up the market again and restore faith for the rest of the bitcoin community.

Bitcoin was made to be immune to legislation.

[RationalSpeculator]

I believe that bitcoin is on a rise and will level of without further significant dips once it exceeds a fiat value of $300 USD. At that time we will see large sell offs, major buys, and once that calms it will be a progressive increase with marginal ups and downs. I can't see any down dropping the price more than 3-5% when this happens. My advice to you is buy when you can afford them and sit back and enjoy the ride, we have a long way up.

 

give me that pipe of yours! Seems some pretty good shit you have there.

[theonewhowaskazu]

[...]
Last but not least, you can pick any multimillionaire, venture capitalist, Chinese, Winklevoss twin you want an attribute the price to him/her or it. If you think for one minute that a venture capitalist is going to sit back and watch their investment shrivel you are dead wrong. The companies, technology, implementation and legal battles being fought over bitcoin are much bigger than you, I, or anyone person on this forum and I can assure you that if, and when a significant price drop occurs they will prop up the market again and restore faith for the rest of the bitcoin community.
[...]

These people are just like you or the others on this forum, except they have more fiat. Did you think they have divine traits?

No, but I do think since they are rich, and made their own wealth, thus clearly must like money and wish to stay rich. ESPECIALLY if they earned their money through investment.

[Nightowlace]

[...]
Last but not least, you can pick any multimillionaire, venture capitalist, Chinese, Winklevoss twin you want an attribute the price to him/her or it. If you think for one minute that a venture capitalist is going to sit back and watch their investment shrivel you are dead wrong. The companies, technology, implementation and legal battles being fought over bitcoin are much bigger than you, I, or anyone person on this forum and I can assure you that if, and when a significant price drop occurs they will prop up the market again and restore faith for the rest of the bitcoin community.
[...]

These people are just like you or the others on this forum, except they have more fiat. Did you think they have divine traits?

"The companies, technology, implementation and legal battles being fought over bitcoin are much bigger than you, I, or anyone person on this forum"

Never said they were bigger than us. I said what is being built around Bitcoin is bigger than us.

[Nightowlace]

I believe that bitcoin is on a rise and will level of without further significant dips once it exceeds a fiat value of $300 USD. At that time we will see large sell offs, major buys, and once that calms it will be a progressive increase with marginal ups and downs. I can't see any down dropping the price more than 3-5% when this happens. My advice to you is buy when you can afford them and sit back and enjoy the ride, we have a long way up.

 

give me that pipe of yours! Seems some pretty good shit you have there.

I got the last of the good stuff from Silkroad....... Too soon?

[spooderman]

I predict we'll be over 1800 soon! (pages on this thread)

[Nightowlace]

I believe that bitcoin is on a rise and will level of without further significant dips once it exceeds a fiat value of $300 USD. At that time we will see large sell offs, major buys, and once that calms it will be a progressive increase with marginal ups and downs. I can't see any down dropping the price more than 3-5% when this happens. My advice to you is buy when you can afford them and sit back and enjoy the ride, we have a long way up.

 

give me that pipe of yours! Seems some pretty good shit you have there.

Think logically man. At some point the speculation stops and the realization that this is stable and has a solid infrastructure built around it sets in. How many people are still kicking themselves about google? How many are still saying oh it's gonna tank, just you wait.

[Xer0]

China awake, CNY rises again. Gox should follow soon

[RationalSpeculator]

http://www.google.com/trends/explore?q=bitcoin#q=bitcoin%2C%20btc&date=today%2012-m&cmpt=q

google trends

...

The public does not have bitcoins to sell buy, they are in very tight hands already.

Corrected that for u.

Just read up on Cyprus, stock market down 98%. People losing their life savings in bank defaults. Barely any cash available, cannot send money anywhere. Buying bitcoins? I don't think so. Except for the rare smart guy like in any country. It will take time I'm afraid, eventhough bitcoin is the solution, it does require intelligence and risk tolerance against volatility to get it and do it.

I think this google trend as well as my recent poll here show that we are inbreading. Bitcoiners buying bitcoin.

[Adrian-x]

I predict we'll be over 1800 soon! (pages on this thread)

You joke, Bitcoin is like this/\ - the parent to this tread was once approaching 1000 pages and a number of "tech savvy experts" were predicting what would happen if and when it reached 1000, the consensus seemed to resemble a calamity akin to Y2K .

[RationalSpeculator]

I believe that bitcoin is on a rise and will level of without further significant dips once it exceeds a fiat value of $300 USD. At that time we will see large sell offs, major buys, and once that calms it will be a progressive increase with marginal ups and downs. I can't see any down dropping the price more than 3-5% when this happens. My advice to you is buy when you can afford them and sit back and enjoy the ride, we have a long way up.

 

give me that pipe of yours! Seems some pretty good shit you have there.

Think logically man. At some point the speculation stops and the realization that this is stable and has a solid infrastructure built around it sets in. How many people are still kicking themselves about google? How many are still saying oh it's gonna tank, just you wait.

Agreed but you are off by magnitudes. If btc 100 folds to $10.000 and succeeds in getting market cap of a few hunderd billion you get google like market cap and similar volatility, which can still be a drop of 50% in a few months (2008). Even the largest currencies that are valued in the trillions like Euro or gold go up or down by 5% vs the USD on a regular basis. A drop of 50% is also possible though that takes a few years.

[Adrian-x]

I think this google trend as well as my recent poll here show that we are inbreading. Bitcoiners buying bitcoin.

That is not a big sample group in that poll of yours. (not being from North America, and partaking in the customs, I had to look up the meaning of circle jerk a while back, metaphorically that is what you describe.  )

I did come up with another theory that I think describes the growing adoption rate, we'll see where this correction leads us, and brace on the history here, we should have a good idea of where we are headed. 

[spooderman]

Man, if this pops I want to be that guy that sells right at the top and doubles his btc.

I held throughout the entire april mess, was rewarded for not panicking (as we are now almost back at the ATH,) but punished for not selling at the top (possibly because of greed.)

[wobber]

About 600 coins to surpass 205.5