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

[Walsoraj]

Funny that they have the same sleeping habits as actual Chinese people in China.  Weird.

It must be the same imaginary traders who are eating that ask wall on Mt Gox right now.

I'm not denying that the manipulators have convinced a lot of stupid amurikans to do a lot of stupid trading.

Fool.

[BlueTemplar]

Log charts are useful for illustrating the spread or adoption of a technology but not specific instances of that technology. Bitcoin is just an instance of something larger. And even if it wasn't, a log chart would be appropriate for spread or adoption, not price in fiat.

But isn't price in fiat pretty much proportional to bitcoin adoption? (assuming fiat value is constant)

[aminorex]

too many chinese.  too few bitcoins.  someone is making a lot of money by selling for $350 in china and buying for $330 in europe.

when the chinese buyers decide to take a profit, you had best be headed the same direction, faster.

meanwhile, if the same number of bitcoin are bought in the lit market today as yesterday, then the price will go over 3000 yuan.
since that can't happen, either someone will buy the wall at usd 335 on bitstamp, and send it to btcchina, or else the dam will break tonight.

1.3 billion chinese are telling us that BTC is a buy at $358.28, while 750 million europeans are telling us that BTC is a sell at $334.40.

[justusranvier]

Warning: Bitcoin just crashed to a new ATH on Mt Gox. The end times are upon us.

[Walsoraj]

Log charts are useful for illustrating the spread or adoption of a technology but not specific instances of that technology. Bitcoin is just an instance of something larger. And even if it wasn't, a log chart would be appropriate for spread or adoption, not price in fiat.

But isn't price in fiat pretty much proportional to bitcoin adoption? (assuming fiat value is constant)

Fix your brain.

[jojo69]

and Walsoraj's ignore button gets just a tiny bit darker...bye

[Walsoraj]

and Walsoraj's ignore button gets just a tiny bit darker...bye

Can't handle the logic bombs? I understand. Few can.

 

[Richy_T]

Even if we have a huge crash this weekend it's still not going to go below the previous ath (266?).

How do you think you know this?

Obama promised.

[macsga]

Code:

Total BTC	11,964,950 BTC
Market Cap
based on latest prices
3,709,158,430 USD
or 2,835,693,150 EUR
or 11,833,335,550 PLN
or 2,548,534,470 GBP

This should be irrelevant, but I thought it might matter:
http://www.wikinvest.com/stock/EBay_(EBAY)/Data/Market_Capitalization
Goodnight everybody...

[BlueTemplar]

Log charts are useful for illustrating the spread or adoption of a technology but not specific instances of that technology. Bitcoin is just an instance of something larger. And even if it wasn't, a log chart would be appropriate for spread or adoption, not price in fiat.

But isn't price in fiat pretty much proportional to bitcoin adoption? (assuming fiat value is constant)

Fix your brain.

Here's a compelling argument :
http://www.x-btc.com/1/post/2013/11/bitcoin-is-not-surging-going-ballistic-or-going-on-an-astronomical-tear.html
What's yours?

[Walsoraj]

Log charts are useful for illustrating the spread or adoption of a technology but not specific instances of that technology. Bitcoin is just an instance of something larger. And even if it wasn't, a log chart would be appropriate for spread or adoption, not price in fiat.

But isn't price in fiat pretty much proportional to bitcoin adoption? (assuming fiat value is constant)

Fix your brain.

Here's a compelling argument :
http://www.x-btc.com/1/post/2013/11/bitcoin-is-not-surging-going-ballistic-or-going-on-an-astronomical-tear.html
What's yours?

Bitcoiners suffer from extreme confirmation bias and the charts they concoct reflect this.

[BitchicksHusband]

too many chinese.  too few bitcoins.  someone is making a lot of money by selling for $350 in china and buying for $330 in europe.

when the chinese buyers decide to take a profit, you had best be headed the same direction, faster.

meanwhile, if the same number of bitcoin are bought in the lit market today as yesterday, then the price will go over 3000 yuan.
since that can't happen, either someone will buy the wall at usd 335 on bitstamp, and send it to btcchina, or else the dam will break tonight.

Oh ye of little faith.  Are you new to bitcoin or something?

[justusranvier]

Honestly I'll be concerned if the current growth rate on the weekly chart continues for more than another week without some consolidation. In April we had two > 30% weeks followed by a 45% week before the crash.

Current week is +35% with one day left to go.

[ChartBuddy]

[Davyd05]

My Money hits my exchange monday - tuesday my guess... Show me the corrections

[BlueTemplar]

Honestly I'll be concerned if the current growth rate on the weekly chart continues for more than another week without some consolidation. In April we had two > 30% weeks followed by a 45% week before the crash.

Current week is +35% with one day left to go.

What charts are you looking at? The actual growth is almost double that!

[BlueTemplar]

Log charts are useful for illustrating the spread or adoption of a technology but not specific instances of that technology. Bitcoin is just an instance of something larger. And even if it wasn't, a log chart would be appropriate for spread or adoption, not price in fiat.

But isn't price in fiat pretty much proportional to bitcoin adoption? (assuming fiat value is constant)

Fix your brain.

Here's a compelling argument :
http://www.x-btc.com/1/post/2013/11/bitcoin-is-not-surging-going-ballistic-or-going-on-an-astronomical-tear.html
What's yours?

Bitcoiners suffer from extreme confirmation bias and the charts they concoct reflect this.

No, I'm talking about this :

The reason why this makes sense is that new and groundbreaking technologies are not linear, they are S-curves.
Here's a chart of Facebook's users :
*exponential chart*
As you can see its not linear, its exponential.  Growth starts out small, maybe stays linear for a while but at some point a critical mass is reached and adoption propagates like a chain reaction with each new user causing more new users to adopt.  Later when saturation is nearing the curve slows down and starts to level off (you can just see that starting to happen at the end of this chart).

Bitcoin is following a similar adoption curve, the only difference is that the price is also affected by other factors like greed, fear, news, and the economy.  This adds volatility to the curve and even creates bubbles within the curve but the overall trend stays the same - an exponential curve (with bumps) that will at some point level off.

[justusranvier]

What charts are you looking at? The actual growth is almost double that!

The weekly weighted prices from here:

http://bitcoincharts.com/charts/mtgoxUSD#rg30zigWeeklyztgSzm1g10zm2g25

[BlueTemplar]

What charts are you looking at? The actual growth is almost double that!

The weekly weighted prices from here:

http://bitcoincharts.com/charts/mtgoxUSD#rg30zigWeeklyztgSzm1g10zm2g25

Indeed : 350/200=1.75

[bitwhizz]

My main concern are these.



They are moon bears. They live in China and have moon shape chest mark.

China...moon...bear   

HOLY CRAP

what happens when these guys are unleashed !!!