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

[Spaceman_Spiff]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Traditional markets lie.

They let people trade with assets they don't actually have.

Soon enough, Wall Street will get involved and play fractional reserve games with Bitcoin trading.

When that happens just remember - only bitcoins that are in a wallet whose private keys you exclusively control are real. Everything else is just promises back by (potentially) nothing at all.

The beauty of bitcoin is that it is so easy to take "physical" possession of your coins.  Fractional reserve games can be dismantled very quickly when there is distrust.

[F-bernanke]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Traditional markets lie.

They let people trade with assets they don't actually have.

Soon enough, Wall Street will get involved and play fractional reserve games with Bitcoin trading.

When that happens just remember - only bitcoins that are in a wallet whose private keys you exclusively control are real. Everything else is just promises back by (potentially) nothing at all.

The beauty of bitcoin is that it is so easy to take "physical" possession of your coins.  Fractional reserve games can be dismantled very quickly when there is distrust.

Right on, think about the gold smiths in the old ages, giving out more gold receipts than he fysicly had in his vault.

[TERA]

Yeah the biggest buy I see now is 1K. There used to be 5K buys, 10K buys, 25K buys... I haven't seen those since August. This is being driven entirely by a lack of supply now. The total accross all exchanges is like 25K btc. This is definitely a danger zone.

Did you even stop to consider that coins worth over $450 now traded for less than $100 in July.

Of course the number of coins per trade will be less than a quarter of what they were last summer.

I know you desperately want the price to go down but you should try to be more realistic. Wishful bear thinking will get you nowhere.

Auctually the volume needed to sustain a given price level is based on bitcoins, not dollars. If the price is four times higher than there needs to be four times as much usd volume, which is the same amount of bitcoin volume.

[Spaceman_Spiff]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Because bitcoin has the capacity for both much more growth, as well as the possibility that it tanks overnight .

Auctually the volume needed to sustain a given price level is based on bitcoins, not dollars. If the price is four times higher than there needs to be four times as much usd volume, which is the same amount of bitcoin volume.

There is no volume needed to sustain a certain price.  If nobody buys, and nobody sells, prices stay stable.

[haightst]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Traditional markets lie.

They let people trade with assets they don't actually have.

Soon enough, Wall Street will get involved and play fractional reserve games with Bitcoin trading.

When that happens just remember - only bitcoins that are in a wallet whose private keys you exclusively control are real. Everything else is just promises back by (potentially) nothing at all.

imo this is what /\Gox/Stamp/Coinbass is pulling already!!!   = they are SHORT !!! HAAAA

[seleme]

It just won't stop, lol. Bitcoin confronts the gravity

What a crazy thing Bitcoin is, lol

[Templer]

It just won't stop, lol. Bitcoin confronts the gravity

What a crazy thing Bitcoin is, lol

It is man it is

[tobyaus]

It just won't stop, lol. Bitcoin confronts the gravity

What a crazy thing Bitcoin is, lol

It is man it is

+1

[ChartBuddy]

[ardana123]

http://forum.bodybuilding.com/showthread.php?t=158305383

What the hell is this? Are they actually using the name "coin" for a universal bank card?

[TERA]

It just won't stop, lol. Bitcoin confronts the gravity

What a crazy thing Bitcoin is, lol

It's a bearish wedge, during a low volume climb caused by low ask depths.

[600watt]

where was that weekend dip now ?

[N12]

where was that weekend dip now ?

The Chinese didn't let us.

[Shak]

postponed to monday after the senates hearing

[macsga]

postponed to monday after the senates hearing

Unlikely, but whatever serves bears' needs

[haightst]

http://forum.bodybuilding.com/showthread.php?t=158305383

What the hell is this? Are they actually using the name "coin" for a universal bank card?

BLE? funny copycats they even tried to hijack the symbol !! LOL >> bruteforce via bluetooth?OMG!!  

[ChartBuddy]

[Richy_T]

US Banks are fighting Bitcoin hard:

http://www.forbes.com/sites/kashmirhill/2013/11/15/bitcoin-companies-and-entrepreneurs-cant-get-bank-accounts/


“Saying Bitcoin in a bank is like yelling fire in a theater,” says Kinnard Hockenhull, the 23-year-old founder of Bitbox.

We need to try that 

Lol I went to my bank to make a wire transfer and the cashier asked me what was the reason for the transfer. I really hesitated about mentioning anything about bitcoin.

"Personal loan" 

The reason for the transfer is "sending money".

"Business, Ma'am. Nunya business..."

[haightst]

http://www.rtcons.com/wall/16025.14.small.png

+/\+Christian Church peeps even looking to buying in! HA!!!   *now this is getting good!!!

[Richy_T]

I don't trade on traditional markets, so I'm just wondering the following. Take for instance Google stock, right now it's floating around 1000$. I can't imagine the Google stock has the same shitty market depth bitcoin has, e.g. 1000 bitcoins (or 1000 shares) dropping the price by 40$. Why is it that bitcoin has such bad market depth? The price keeps going up but a few big dumps could drop the price back to the low 300's. I can't imagine the same thing happening to Google stock.

Because bitcoin has the capacity for both much more growth, as well as the possibility that it tanks overnight .

Auctually the volume needed to sustain a given price level is based on bitcoins, not dollars. If the price is four times higher than there needs to be four times as much usd volume, which is the same amount of bitcoin volume.

There is no volume needed to sustain a certain price.  If nobody buys, and nobody sells, prices stay stable.

There really is no "price". There are asks, there are bids and there is the last trade. The price is whatever you pay/receive in the trade you make.