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

[NUFCrichard]

If not now, they we will do it this afternoon.  The rises seem to be 2 a day at the moment, 1 for China and 1 for the US.

[rpietila]

No fuel to take off? Come on!

Amount of fuel needed is calculated here.

During fast runups, every X USD raises the market cap by 10X USD. In other words, every 1M USD of new money raises the price by $1.

[crazy_rabbit]

Slow slog to the 400 line.

[Davyd05]

Hmm to buy a couple coins now or wait till its 400 tomorrow.. hmm quite the decision too make.


ATH 399

[gambitv]

We have lift-off - to the .... 1Moon3DvvYsYrVKP855PndDBHCGZFaCipE.

[Spaceman_Spiff]

$400 

[N12]

It's official guys, alltime highs on Bitstamp as well as MtGox.

[Coinseeker]

$400 Insanity.  Gox still leading the charge.

[crazy_rabbit]

YEAH! $400!!!

[BitchicksHusband]

$400

[oakpacific]

[NewLiberty]

In the meanwhile..

Btcchina at almost $400, compared to Stamp at $365.  And still apparently no one has figured out the arbitrage.

you need a chinese bank account to withdraw your fiat, but you need to visit china to get a bank account

thats the problem  

I'm not implying most people could do it.  But surely someone could do it, and would be doing it, you'd think.

lol

*checking chinese subforum*
https://bitcointalk.org/index.php?topic=329534.0

Remember how BTC-E has always had low prices? There's a reason for that: hard to get money in.

And you know how now BTCCHINA has really high prices? There's a reason for that, too: hard to get money out.

If it was easy to do, people would already be doing it and we wouldn't see as large a gap as we do. China is a Communist country, and they have a strong hold on their currency. Just doing some quick Googling, Chinese residents can only send $50,000 per year overseas.

So, let's say you put up $45,000 to buy 150 coins. Send them to China, sell for $340 each, split the $6,000 profit with your Chinese partner, and have them wire back $48,000 (while also possibly paying taxes and bank fees, etc).

Oh, and don't forget to add in your trip to China  

So you might make $3,000 for the year. You could exceed the limit by having your Chinese contact's friends and relatives send you transfers in their names, but it seems like that would require even more trust.  And if the price of bitcoins goes way up and the price difference stays the same, you'll hit your limit earlier and make less profit.

It's a nice idea in theory, but I don't think it will pan out as well as it looks. Please let us know if you do try it, though!  

Sure, but still at some point it must become profitable for someone..  If btcchina was at $1m/bitcoin and Btc-e was at $100/bitcoin, someone wouldn't take advantage?

Cmon homeboy

Maybe traders assume there is soon a chinese SR-like takedown to come? This risk is therefore reflected in the price difference.
Is this called efficient market hypothesis - dunno?

Difficulty moving money out of China explains both the price difference and the demand for bitcoins there.

[Davyd05]

Feels nice, I was part of the buy order that broke the all time high for cavirtex. 368.90 here's to 400 in cad soon    

[barbs]

I love bitcoin its like

400 whee!!!! to da mooon!!!

Whoa we're not moving anymore

DON'T LOOK DOWN

[N12]

⬆

[gandhibt]

So the ATH at gox is now 399.999? 400 is still virgin?

[phatsphere]

So the ATH at gox is now 399.999? 400 is still virgin?

more than 50 coins were traded at exactly $400 on gox.

[Coinseeker]

Yup, mine shows well over $200 coins traded at $400.  Correction incoming though?

[adamas]

So the ATH at gox is now 399.999? 400 is still virgin?

more than 50 coins were traded at exactly $400 on gox.

 

[ajax3592]

BITCOINS are on fire !! The value has hit $400 omg. Cool down Chinese stash your black money somewhere else, damn it.