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

[bassclef]

This is just fucking mental...

I have only 2 explanations:

1. Someone knows Senate will be gentle

2: Someone want the price as higher as possible for dumping on it if Senate would not be gentle.

I don't think the Chinese (or the Europeans or anyone else for that matter) really care much about what the Senate does

Everybody cares about it as the outcome of it will have an impact on the price. Good or bad.

There will be no outcome, it's simply a hearing to shape future lawmaking. Maybe. They are going to want to regulate it, of course. Everyone knows this, it's what these government agencies do. For the children. The debate will be if they can, or should, regulate. My take is that these guys know the US is in dire straits as far as overspending and debt, and regulating the hell out of Bitcoin business will be simply shooting themselves in the foot.

[theonewhowaskazu]

Judging from BTC-E, Russians seem to be buying now like mad.

Seriously, all we need is the Iranians to hop on the Bitcoin wagon. Then we'd have Russians, Iranians, and Chinese, the grand trio of nationalities vilified by the US media.

[ardana123]

How the hell is china having a rally at 4 am in the morning   

[theonewhowaskazu]

How the hell is china having a rally at 4 am in the morning   

Its because the people that run BTC-China are secretly not Chinese, but are actually aliens, who don't have to sleep. It all makes sense now.

[haightst]

Melt-up @ BTC-e

Bitcoin shortsellers *explained*-> http://www.sherv.net/cm/emoticons/fighting/setting-himself-on-fire.gif

[Boxman90]

Judging from BTC-E, Russians seem to be buying now like mad.

Seriously, all we need is the Iranians to hop on the Bitcoin wagon. Then we'd have Russians, Iranians, and Chinese, the grand trio of nationalities vilified by the US media.

If it were actually the russions buying at BTC-e, the volume would be in BTC/RUR, but no the volume is in BTC/USD.

The greatest catalyst of this bubble is imo the grand delusion that "*random nationality* IS NOW BUYING BITCOIN LIKE CRAZY". And people blindly follow a Chinese exchange with no trading fees (thus probably heavily faked volume).  It's okay, i can make money from that.

[theonewhowaskazu]

Judging from BTC-E, Russians seem to be buying now like mad.

Seriously, all we need is the Iranians to hop on the Bitcoin wagon. Then we'd have Russians, Iranians, and Chinese, the grand trio of nationalities vilified by the US media.

If it were actually the russions buying at BTC-e, the volume would be in BTC/RUR, but no the volume is in BTC/USD.

The greatest catalyst of this bubble is imo the grand delusion that "*random nationality* IS NOW BUYING BITCOIN LIKE CRAZY". And people blindly follow a Chinese exchange with no trading fees (thus probably heavily faked volume).  It's okay, i can make money from that.

have you ever been to Russia? Most rich people there have lots of money in USD. Since the USD exchange rate is more set than the RUR, they're more likely to spend their USD stache on BTC rather than their RUR.

[justusranvier]

Actually, you might be right justunravier, depending on how you want to calculate it. The latter stage of the 266 bubble was just as insane though. But it's no use to argue. This bubble is made of the same stuff as the 32 and the 266 bubble, not much difference here.

From the weekly charts:

March-April 2013: 29%->9%->35%->35%->46%->crash
October-now 2013: 7%->16%->23%->4%->42%->30%-> (so far, 28%)

>40% on the weekly weighted chart, that's not immediately followed by a crash, hasn't happened since 2011:

April-June 2011: 29%->39%->79%->45%->81%->15%->11%->49%->98%->crash

Imagine if early 2011 repeated itself at these price levels.

[adamstgBit]

i told you, the rally is now accelerating.

[bobdude17]

It's all fun and games until the Japanese start buying!

No way they are going to ignore what is going in China right now.

[bitcodo]

I was at the Salt Pans yesterday. I bought 30 kg of salt. Go salt, go! 

The Romans were famous builders of salt pans and special quantaties of salt, sal in Latin, which generations of Roman legionaries received in little bags as part of their pay, were known as salarium argentum or "salt money". Over the centuries the name of this form of payment gave rise to the English word "salary".

[rpietila]

no more coins on gox beyond 550. but i still have no idea how next week will play out …

$25 million on Gox on orderbook vs 12k BTC. ATH and ATL respectively. If Gox USD issues are as real as people say, the PANIC buying to move out BTC at considerable loss could be epic.

If Mark wanted, he could just pay the whole $25M from his left pocket (by selling BTC into it) and then Mt.Gox would not be short any USD.

[windjc]

$50 spread between Stamp and Gox.

This can't last forever. This is a serious divergence. When we've seen this before it typically resolves itself in a correction.

[Patel]

Guys just wait until India gets an exchange. I know so many Indians who give huge discounts if you pay in Bitcoin.

The second largest population of the world still doesn't have an exchange, and when that happens you can bet that the chinese will get a run for their money

  

[byronbb]

Judging from BTC-E, Russians seem to be buying now like mad.

Seriously, all we need is the Iranians to hop on the Bitcoin wagon. Then we'd have Russians, Iranians, and Chinese, the grand trio of nationalities vilified by the US media.

If it were actually the russions buying at BTC-e, the volume would be in BTC/RUR, but no the volume is in BTC/USD.

The greatest catalyst of this bubble is imo the grand delusion that "*random nationality* IS NOW BUYING BITCOIN LIKE CRAZY". And people blindly follow a Chinese exchange with no trading fees (thus probably heavily faked volume).  It's okay, i can make money from that.

Has it not occurred to anyone that if you wanted to buy a ton of bitcoins without steaming the price you could open an exchange with zero fees to attract bitcoins into your bids??

[haightst]

no more coins on gox beyond 550. but i still have no idea how next week will play out …

$25 million on Gox on orderbook vs 12k BTC. ATH and ATL respectively. If Gox USD issues are as real as people say, the PANIC buying to move out BTC at considerable loss could be epic.

If Mark wanted, he could just pay the whole $25M from his left pocket (by selling BTC into it) and then Mt.Gox would not be short any USD.

can I get those 700 dollar bitcoins or not ? =) LMAO!

[justusranvier]

$50 spread between Stamp and Gox.

This can't last forever. This is a serious divergence. When we've seen this before it typically resolves itself in a correction.

Talking about spreads in USD terms is pointless. What is it in percentage terms?

[haightst]

Guys just wait until India gets an exchange. I know so many Indians who give huge discounts if you pay in Bitcoin.

The second largest population of the world still doesn't have an exchange, and when that happens you can bet that the chinese will get a run for their money

  

Mumbai !!!! that's right even more $$$ there~ thanks for reminding me!!! 

[SheHadMANHands]

$50 spread between Stamp and Gox.

This can't last forever. This is a serious divergence. When we've seen this before it typically resolves itself in a correction.

Talking about spreads in USD terms is pointless. What is it in percentage terms?

The percentage difference is far from unusual... 9.5% now.

[byronbb]

Bitcoin Days Destroyed not as high as previous ATH at $266. Less coins coming out of cold storage to sell into this rally??


https://blockchain.info/charts/bitcoin-days-destroyed?timespan=1year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=