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

[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.

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

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

Yeah I know. But that % has been dropping. Stamp has been between $15-$30 difference this entire rise, except for once. Right before the last correction.

Mtgox just looks really overbought to me. And the ask depth is thin which suggest it could be more overbought soon.

I think we get some sort of correction soon. Or maybe we just go from here to 800 next week.

[justusranvier]

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

Early adopter coins are a finite resource.

Each attention-generating rally ($32, $266) consumes more of them, and then they reenter circulation.

What happens when the supply is depleted?

[byronbb]

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

Early adopter coins are a finite resource.

Each attention-generating rally ($32, $266) consumes more of them, and then they reenter circulation.

What happens when the supply is depleted?

Good point ty.

[YoYa]

What happens when the supply is depleted?

Theoretically (more) price stability. With higher numbers of coin in circulation having been decentralised from individuals who were holding large amounts, more players in the market making it harder to jump the price with pumps/dumps.

Theoretically that is.

[adamstgBit]

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=

and there's a good chance a lot of these are poeple moving coins to a more secure storage. I use to tell poeple get a paper wallet. now i say get an encrypted paper wallet with backups. you and your dad can give eachother a backup for safe keeping. DO NOT TRUST YOUR MOTHER!  

[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=

and there's a good chance a lot of these are poeple moving coins to a more secure storage. I use to tell poeple get a paper wallet. now i say get an encrypted paper wallet with backups. you and your dad can give eachother a backup for safe keeping. DO NOT TRUST YOUR MOTHER!  

Agree, my mom has been telling me to sell since $100.

[byronbb]

Bots on gox are raging.

[ChartBuddy]

[wobber]

People still follow Gox? That exchange is f-ed up!

[byronbb]

People still follow Gox? That exchange is f-ed up!

27m USD on orderbook brah.

[Coinseeker]

People still follow Gox? That exchange is f-ed up!

Still a relevant piece of the pie though.

Sure is.  People should be happy Gox is still in the mix.  After the April crash, that's all anyone kept saying.  How they wish there were multiple exchanges.  We, here it is.  Gotta take the good with the bad. 

[mvidetto]

http://www.youtube.com/watch?v=FADVigvXbXE seriously.... can we get much higher?

[LOADING.READY.RUN]

The old man is selling another 50 BTC.

These are premium BTC, untainted since 2011 and not on a redlist. :-)

That takes his total sold to 450 BTC or 45% of his stash.

I like the story about your father but didn't he ask you last time already what he should do with all the money?

Maybe you should write the story up nicely in a separate thread!

[Wekkel]

Amazing how the market picks up any sell off. Craziness must be reaching a top soon (but could be above $600).

[David M]

I like the story about your father but didn't he ask you last time already what he should do with all the money?

He sure did.  I have been trying to get him to stop selling BTC and just give them to me. :-)

Dad: "No."
Me: "What about your grand kids"
Dad: "Don't pull that shit on me"

The above is totally in jest.  He is a very generous man, but also extremely frugal with his life style.  An awesome "paradox".

I think the pace of the rise is making him both nervous and excited.

[ardana123]

Amazing how the market picks up any sell off. Craziness must be reaching a top soon (but could be above $600).

No way, what with bitcoin reaching 0.5k, it'll be all over the news come monday/tuesday. That and the senate hearing. There should be a major push towards 1k if a lot of new blood enters the exchanges.

[Patel]

470 wall on stamp eaten

[callezetter]

People still follow Gox? That exchange is f-ed up!

Still a relevant piece of the pie though.

Sure is.  People should be happy Gox is still in the mix.  After the April crash, that's all anyone kept saying.  How they wish there were multiple exchanges.  We, here it is.  Gotta take the good with the bad. 

Yeah with all these small shakes we see and the multiple exchanges we have now, it dont feel like april at all.
It feels like it have to go alot higher before we see another april crash.

So I wonder what going to surprise us with our pants down this time..lol

[Richy_T]

Its another one of those silk-road type scenarios.

-> Nobody cares about an event, except the impact that event will have on price.
-> That event will have no impact on price, unless people care about it.

It will either cause a short-term bubble (of the real variety) or a short term crash, depending on how people want to spin it this time. Unless something really weird happens like the government actually deciding on something, the long-term effect will be 0 on pretty much anything.

I think the senate will wobble and equivocate and say nothing of any consequence. Likely they will leave room open for lobbyist sponsored legislation down the road. (Most of them will reveal huge technical incompetence for us all to laugh at, however)

The big deal is the banks dropping personal wire transfers. That is the precursor of currency restrictions to come and I am sure it's a big factor behind the current rally.

[Dargumin]

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