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

[Davyd05]

nearly halfway to 2600.. oh lardddddddddd

[solex]

nearly halfway to 2600.. oh lardddddddddd

100% in a few days. That is going to yo-yo really hard...

[hlynur]

is somebody here trading on btcchina?
how are they dealing verification and withdrawals as european?

[windjc]

The most impressive thing about this Chinese run up is that is coming on huge volume, the most we've seen there during this rally.

We could literally see them run all the way up to 3000 ($482)  in the next 24 hours.

Meanwhile, if that happens I literally think the other exchanges are going to sit there and watch it happen.

Which could be a good thing. If the other exchanges don't react on the way up, they probably won't react much on the way down.

[ScrapOfCat]

Can't get this song out of my head

http://www.youtube.com/watch?feature=player_detailpage&v=Y3A_-jDcwG8#t=74

[bassclef]

The most impressive thing about this Chinese run up is that is coming on huge volume, the most we've seen there during this rally.

We could literally see them run all the way up to 3000 ($482)  in the next 24 hours.

Meanwhile, if that happens I literally think the other exchanges are going to sit there and watch it happen.

Which could be a good thing. If the other exchanges don't react on the way up, they probably won't react much on the way down.

The arbitrage opportunities for those with the means will be too great to keep a large price difference going for long.

[Miz4r]

Just a reminder, back in April China also started bull rushing far ahead of the pack very shortly before the big crash. It peaked around $320 there, more than $50 higher than the $266 top on Gox. Will this time be different? Well this is bitcoin so anything can happen, but a serious correction is quite likely in my opinion.

[BitThink]

is somebody here trading on btcchina?
how are they dealing verification and withdrawals as european?

You can only withdraw to a china bank account. Not sure about the verification, but seems the account name has to be the same as the bank account name. Therefore, I think it relies on the bank's verification.

[SheHadMANHands]

The most impressive thing about this Chinese run up is that is coming on huge volume, the most we've seen there during this rally.

We could literally see them run all the way up to 3000 ($482)  in the next 24 hours.

Meanwhile, if that happens I literally think the other exchanges are going to sit there and watch it happen.

Which could be a good thing. If the other exchanges don't react on the way up, they probably won't react much on the way down.

The arbitrage opportunities for those with the means will be too great to keep a large price difference going for long.

~17% difference between Stamp and btcchina atm.  Sweet arbitrage gods...  Hard to believe that arbitrage isn't possible and worth while for some.

[pand70]

I will never sell a single bitcoin. The chinese can drive the price in the 4 digits  by the end of the next weak.

[solex]

The most impressive thing about this Chinese run up is that is coming on huge volume, the most we've seen there during this rally.

We could literally see them run all the way up to 3000 ($482)  in the next 24 hours.

Meanwhile, if that happens I literally think the other exchanges are going to sit there and watch it happen.

Which could be a good thing. If the other exchanges don't react on the way up, they probably won't react much on the way down.

The arbitrage opportunities for those with the means will be too great to keep a large price difference going for long.

~17% difference between Stamp and btcchina atm.  Sweet arbitrage gods...  Hard to believe that arbitrage isn't possible and worth while for some.

So, is there anyone doing this? If Ripple is good for anything it should close this arb gap.

bitcoin without ripple: ...what the fuck is ripple?

It sure is nice to be able to move funds from one exchange to another using Ripple.  This lets me perform arbitrage.    

For instance, let's say the XBT/CNY market is overpriced.  Ripple might have a path where I can move CNYs at one exchange (e.g., RippleCN) into USDs at another exchange (e.g., Bitstamp) without much of a cost.

This benefits Bitcoin as it helps to keeps markets efficient.  As a result of my transaction, Ripple gave me incentive to bring my bitcoins to the XBT/CNY market where supply was tight, and because of Ripple I could absorb some of the supply at Bitstamp by buying "cheap" bitcoins from their XBT/USD market.

I fail to understand why such a useful tool gets so much hate around here.

[jojo69]

Hard to believe that arbitrage isn't possible and worth while for some.

life will find a way

[windjc]

Just a reminder, back in April China also started bull rushing far ahead of the pack very shortly before the big crash. It peaked around $320 there, more than $50 higher than the $266 top on Gox. Will this time be different? Well this is bitcoin so anything can happen, but a serious correction is quite likely in my opinion.

True. But the volume on the Chinese exchange is massive now compared to in April.

But, I agree, I  correction could be forthcoming.

[mvidetto]

btcchina is running up the wall over there and the other exchanges are struggling to keep up.  Does anyone see an end in sight to this madness?

[windjc]

btcchina is running up the wall over there and the other exchanges are struggling to keep up.  Does anyone see an end in sight to this madness?

Well Bitstamp in particular looks like it is going to be sitting at $350 for a long time. There is no money there to buy (or wanting to buy) and I do not think Gox is going to wait around for it. Meanwhile, I think China may go to 2975 today.

[DougTanner]

This won't end well.   

[hahahafr]

btcchina, this is crazy. 

[bnjmnkent]

Bitstamp walled off and only few buyers:
Single ask positions over 20BTC among the first 1000:

Code:

[['347.92', '87.43659903'], ['347.95', '134.06194029'], ['347.99', '26.47985881'], ['348.00', '430.00000000'], ['348.84', '25.00000000'], ['348.85', '25.00000000'], ['349.01', '25.00000000'], ['349.45', '65.87504488'], ['349.49', '25.00000000'], ['349.50', '2000.00000000'], ['350.00', '50.00000000'], ['350.00', '100.00000000'], ['350.12', '50.00000000'], ['354.68', '135.00000000'], ['359.01', '25.00000000'], ['360.00', '50.00000000'], ['365.00', '27.55000000'], ['365.00', '40.00000000'], ['372.41', '135.00000000'], ['374.40', '46.75418729'], ['374.45', '100.00000000'], ['374.49', '200.00061116'], ['374.80', '1141.92241336'], ['375.00', '117.00000000'], ['380.00', '1000.00000000'], ['388.00', '100.00000000'], ['396.75', '41.06320000'], ['399.97', '50.00000000'], ['400.00', '61.78000000'], ['400.00', '73.28033641'], ['402.00', '49.00000000'], ['404.00', '191.82501788'], ['410.00', '39.69804719'], ['411.84', '27.00000000'], ['439.20', '30.00000000'], ['448.00', '30.00000000'], ['450.00', '31.22425221'], ['480.00', '50.00000000'], ['498.00', '198.93400000'], ['502.00', '1000.00000000'], ['650.00', '46.50000000'], ['1000.00', '96.00000000'], ['1045.00', '25.00000000'], ['1347.00', '25.00000000'], ['1785.00', '25.00000000'], ['1840.00', '25.00000000'], ['2146.00', '25.00000000']]

[mccorvic]

Everyone is calling for a downward movement, this means there will be no downward movement.

SCIENCE!

[solex]

btcchina, this is crazy. 

House prices 22x household annual income. China loves crazy!