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

[Odrec]

Could it be that the Bitcoin popularity arrived at a bad time? I mean this year the price surged and many people became aware of Bitcoin but looking at the infraestructure that surrounds Bitcoin you can see that it is still in its infancy so I imagine many people who got interested in it at first also got dissapointed when they found all the trouble trading with Bitcoins entails, all the technical stuff surrounding it and the kind of shadyness of many of the services surrounding the virtual coin. For example the noobishness of some of the big exchanges. I can't help but feel that the hype was somehow kind of wasted because of all these problems. Maybe later when the infraestructure is more mature people will adopt it faster and it will become a much bigger phenomenon. What do you think?

[scarsbergholden]

Could it be that the Bitcoin popularity arrived at a bad time? I mean this year the price surged and many people became aware of Bitcoin but looking at the infraestructure that surrounds Bitcoin you can see that it is still in its infancy so I imagine many people who got interested in it at first also got dissapointed when they found all the trouble trading with Bitcoins entails, all the technical stuff surrounding it and the kind of shadyness of many of the services surrounding the virtual coin. For example the noobishness of some of the big exchanges. I can't help but feel that the hype was somehow kind of wasted because of all these problems. Maybe later when the infraestructure is more mature people will adopt it faster and it will become a much bigger phenomenon. What do you think?

yeah thats part of the reason why this will be such a big crash, but we might hit four digits first 

[ChartBuddy]

[Richy_T]

What if two agents on different sides of the world set their price in btc, and worked in btc. No waiting. No exchange fees, No credit card or banking fees.
What little fluctuation occured, would be offset by the gains of almost zero fees (above).

Volatility could possibly be addressed in the way that it is in other areas with a "futures" market. I'm not sure exactly what form that would take since BTC /is/ the currency in this case but I'm sure it could be done.

[rpietila]

Could it be that the Bitcoin popularity arrived at a bad time? I mean this year the price surged and many people became aware of Bitcoin but looking at the infraestructure that surrounds Bitcoin you can see that it is still in its infancy so I imagine many people who got interested in it at first also got dissapointed when they found all the trouble trading with Bitcoins entails, all the technical stuff surrounding it and the kind of shadyness of many of the services surrounding the virtual coin. For example the noobishness of some of the big exchanges. I can't help but feel that the hype was somehow kind of wasted because of all these problems. Maybe later when the infraestructure is more mature people will adopt it faster and it will become a much bigger phenomenon. What do you think?

This is why the exchange rate is still quite low.

Bitcoin is a marathon, not a sprint.

Yeah. If we did not have the undeveloped infrastructure, people could just easily buy bitcoins, and the price would rise really fast and be already much higher. You can't have it both ways.

[oakpacific]

Could it be that the Bitcoin popularity arrived at a bad time? I mean this year the price surged and many people became aware of Bitcoin but looking at the infraestructure that surrounds Bitcoin you can see that it is still in its infancy so I imagine many people who got interested in it at first also got dissapointed when they found all the trouble trading with Bitcoins entails, all the technical stuff surrounding it and the kind of shadyness of many of the services surrounding the virtual coin. For example the noobishness of some of the big exchanges. I can't help but feel that the hype was somehow kind of wasted because of all these problems. Maybe later when the infraestructure is more mature people will adopt it faster and it will become a much bigger phenomenon. What do you think?

This is why the exchange rate is still quite low.

Bitcoin is a marathon, not a sprint.

Yeah. If we did not have the undeveloped infrastructure, people could just easily buy bitcoins, and the price would rise really fast and be already much higher. You can't have it both ways.

Infrastructure......what a fancy name for hobnobbing with dinosaur banks....

[ChartBuddy]

[molecular]

We appear to be forming a good old Bitcoin triangle, could take another day to start really seeing it. Could bounce off the bottom line again anywhere from 335 to 350 depending on when it hits that zone. Then perhaps... to the moon.  

I don't see it (EDIT: the triangle).

I was about to post the moon 

Great minds...

[600watt]

Could it be that the Bitcoin popularity arrived at a bad time? I mean this year the price surged and many people became aware of Bitcoin but looking at the infraestructure that surrounds Bitcoin you can see that it is still in its infancy so I imagine many people who got interested in it at first also got dissapointed when they found all the trouble trading with Bitcoins entails, all the technical stuff surrounding it and the kind of shadyness of many of the services surrounding the virtual coin. For example the noobishness of some of the big exchanges. I can't help but feel that the hype was somehow kind of wasted because of all these problems. Maybe later when the infraestructure is more mature people will adopt it faster and it will become a much bigger phenomenon. What do you think?

This is why the exchange rate is still quite low.

Bitcoin is a marathon, not a sprint.

Yeah. If we did not have the undeveloped infrastructure, people could just easily buy bitcoins, and the price would rise really fast and be already much higher. You can't have it both ways.

yes, it is actually a good thing. if it would have been different, we would not have been able to buy bitcoins so cheap until a month ago. there are so many stages of awareness and adoption. i know bitcoin since 2011 and there are still moments when i discover yet another beautiful feature of bitcoin. it is programmable money, be pepared for plenty surprises. the hype around the price is bitcoins marketing branch. it has no company behind it that can follow marketing strategies. it is left without a marketing budget. the chart is its speaker, and it does its job just fine. bitcoins cumbersomeness towards beginners is not a problem. it gives us the chance to feel like the pros....
if the story would only have three easy pages, the hype wouldn´t be able to build up this momentum. everything is fine. relax & enjoy. we are making history.

[wachtwoord]

History in the making!

[rpietila]

Yeah. If we did not have the undeveloped infrastructure the infrastructure of the banks was up-to-date, people could just easily buy bitcoins, and the price would rise really fast and be already much higher. You can't have it both ways.

Infrastructure......what a fancy name for hobnobbing with dinosaur banks....

fixed

[solex]

We appear to be forming a good old Bitcoin triangle, could take another day to start really seeing it. Could bounce off the bottom line again anywhere from 335 to 350 depending on when it hits that zone. Then perhaps... to the moon.  

I don't see it (EDIT: the triangle).

I was about to post the moon 

Agreed guys. We are seeing a re-run of the formation at $200.

[crazy_rabbit]

Wheeey! We're stable! :-)

[InwardContour]

gox people are ultra-bulls because they are willing to take chances because money is almost impossible to get out of there.

stamp are the middle, bit nervous but basically the real average

btc-e are total bears, kills them to be in triple digits

the third point becomes less true in strong rallies and more true in deep corrections.....btc-e traders are definitely a panicky crowd one the trend shows any sign of changing.

Can anyone explain why anyone would sell on Btc-e for less than they could get on Stamp?  Is it because of trading between LTC and others or something?

if the end game is not to sell for fiat and exit, then btc-e not peaking as high doesn't matter. it falls deeper on corrections too. when gox bottomed at 300 i was picking up coins at ~250. i trade there for the volatility.

[Ashitank]

Doesn't volume seem quite low post correction build up of price upto ~ 380 ?

[gizmoh]

Doesn't volume seem quite low post correction build up of price upto ~ 380 ?

Everyone waiting if momentum is gained to breach 400, once a big buys take a nab at it, volume should pick up.

[molecular]

Wheeey! We're stable! :-)

No, we're undecided. Big difference

[foo]

New ATH on Bitstamp! $369

[Zangelbert Bingledack]

More consolidation or even a sharp correction wouldn't hurt, as we are either somewhat overbought or quite a lot overbought:





...but we may get a surge instead, just because of momentum and it being mid-week. Trendlines for the current multi-week surge target $500 by late November or mid-December, and given the recent exuberance* we might even hit them earlier.

*though arguably that exuberance is already factored into the red-line trend

[Wary]

If new purchases are triggered by old purchases, the doubling time depends on bank's speed. In April it was wire to Gox, which took several days, now it is transfers to btcchina, which is instant.