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

[JimboToronto]

How many times must 700 be tested before the market takes it seriously?

It's only Gox for some reason - almost like someone wants Gox below other markets.

Is this the game (it is the price that media quote, the one BTC is 'priced' in).

A cheap way to manipulate overall market price by affecting one exchange - is that the logic?

It doesn't seem to work, though.
Multiple attempts now and 700 is keeping strong.

I meant changing the relative market prices between Gox, Stamp and Btce - which 'may' be what is going on.

Throwing money at Gox will not work, no, but it is keeping Gox under other exchanges just now.

I am wondering if this is the rationale

At a cost of how many coins?

I know it seems crazy - but who dumps that many (and then seemingly buys back at a loss) without an agenda?

I was looking for bid walls on other exchanges and I can't see any, so it probably isn't an attempt to push the whole market down and sell at higher prices elsewhere.

What makes little sense (to me) is BIG money being that stupid - there must be some reason for pushing the price down - I  just fail to see what it is.

You have been watching someone losing hundreds of thousands of dollars, but changing market price in the market.

But is this a cheap way of realising a strategy we have no inkling of?  Who benefits from Gox price keeping low, I wonder?

Some organization planning on starting an exchange?

[ajax3592]

Just had a good laugh LOL hahaha  

Hey everyone.
Today i was surfing through the Internet and found something like this:

http://www.youtube.com/watch?v=NIpu8uW6oPQ

What should i think of this?
Does this work?
And how can i be safe from viruses like this?
Is this legal?

Regards

really upset, bitcoin stole word and powerpoint from me during the week, the bastard! fuck you bitcoin

Did you smile ?  

[macsga]

When you don't understand what's happening; follow the money

[MikeH]

Well I found a filipina friend who lives between singapore and philippinnes so not everyone is like that or needs your money.  There are a lot of poor people too that westerners pray on.  Filipinas are more loving than western women, western women go for men with money, muscles and looks and rarely personality.  Hence why i've not found anyone

guess you shouldn't generalise but my Uncle married one, she was obsessed with $ and left him cos his investments didn't turn out well.. other filipinas at work kept trying to hook people up to get their friends and relatives into australia - one old guy bought in, practically got married before they met.. it's quite blatant but I suppose marriages of convenience work for some.

[JimboToronto]

Gotta post on page 3000.

Missed pages 1000, 2000, and 3000, but I did get on pages 1337 and 2600.  

[kurious]

When you don't understand what's happening; follow the money

Been trying to - I even wondered if it was another exchange dumping!

Can't see an arb going on, you could buy on Gox and sell in China if you were sophisticated enough, but of course that would not justify dumping on Gox.

I can't see money where the money is from or going to - so I have no clue - but this is a manipulation, not stupidity - anyone could see it makes no sense to lose money that way.

The three (non-CNY) exchanges are running very close just now - this is unusual, you must admit.

[gandhibt]

stamp, gox and btce all in 730-740, btce leading!

EDIT. now btce is almost 750 when stamp 732

[tutkarz]

is there a limit for fiat withdraws on mtgox like $10000 per day? If someone wants to sell that many bitcoins and sit there on fiat without a way to get them out then he is really stupid or I  am missing something.

[gandhibt]

is there a limit for fiat withdraws on mtgox like $10000 per day? If someone wants to sell that many bitcoins and sit there on fiat without a way to get them out then he is really stupid or I  am missing something.

can you get fiat out from gox or does it take months still? normal limit in gox was 1000 per day and 10000 in month when i was still there, but you can get it up somehow

[kurious]

is there a limit for fiat withdraws on mtgox like $10000 per day? If someone wants to sell that many bitcoins and sit there on fiat without a way to get them out then he is really stupid or I  am missing something.

People USED to put up with that (and higher charges) as the price was higher and the liquidity was better.  At parity, better to trade on Stamp where you can get money out!

Probably won't last - but I have never seen them all within 10 bucks - this is a tiny spread!

[granathus]

5400 of 5500 BTC's traded last 45 mins have been in CNY according to fiatleak, looks like everyone is just waiting for a sign from the Chinese before the race starts up or down.

[tutkarz]

5400 of 5500 BTC's traded last 45 mins have been in CNY according to fiatleak, looks like everyone is just waiting for a sign from the Chinese before the race starts up or down.

and Chinese are confused about mtgox price

[kurious]

5400 of 5500 BTC's traded last 45 mins have been in CNY according to fiatleak, looks like everyone is just waiting for a sign from the Chinese before the race starts up or down.

Fiatleak shows money going in - not trade, I think...

[JimboToronto]

stamp, gox and btce all in 730-740, btce leading!

EDIT. now btce is almost 750 when stamp 732

And Virtex at 750.

[macsga]

CHOO CHOO!!!

[JimboToronto]

and Chinese are confused about mtgox price

Maybe that was a reason for the whale fail dumps, to try to slow the Chinese?  

LOL  

[PirateHatForTea]

China's behaviour has been relatively bullish I would say - I watched Bitstamp crash from about 720 to ~670 and the whole time Bitstamp was flailing around in the 600s, BTCChina kept trying to push upwards through 6700 - and eventually broke through. Both Gox and Bitstamp completely ignored China's reluctance to panic sell along with them.

Given the correction was triggered by an announcement in China (that has been very bearishly interpreted by the non-Chinese-speaking Bitcoiners, save a few perma-bulls) and based on BTC demand in China evaporating, its severity seems unjustified by the Chinese response to the news, at least. And surely they're the ones that should know?

The other side of this of course, is that this is a correction that was long overdue after we went parabolic, and that the news was just a useful catalyst for 'the crash we had to have'.

[JimboToronto]

CHOO CHOO!!!

I'm not sure it's CCMF time yet, but it's definitely bullish.

Or at least more bullish than we've seen since before the bungled "China bans BTC" news fiasco.

[macsga]

CHOO CHOO!!!

I'm not sure it's CCMF time yet, but it's definitely bullish.

Or at least more bullish than we've seen since before the bungled "China bans BTC" news fiasco.

We can always arrange a rehearsal 

[PirateHatForTea]

Ah yes, 4700. Freudian wishful-thinking slip.

This was the drop that happened last night, when Bitstamp touched 651. Do people agree that Bitstamp has been acting was more jumpy and bearish than Gox even, or is that just my biases coming through? It certainly seemed that way last night - Stmap wanted to crash but every other exchange was much more reluctant.