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

[Vycid]

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

I doubt he's hurting for money to the point that he'd seek out a bizarre way to manipulate markets like that.

Doing a good job as PayPal president pretty much precludes doing sketchy shit like pump/dumping new cryptos.

Imagine the fallout if he created a huge competitor because he'd been trying to make a quick buck for himself.

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[vosovich]

I have been keeping an eye on the market this week. It occurred to me that the last trap (dec 7th) was preceded by a large spread ($100+). I haven't seen such a spread since then and there have also been no traps since then. Are the traps usually preceded by large spreads? Is there some common wisdom as to what else can cause such spreads?

Spread as in the difference between exchanges?? Remember a few days ago when all the exchanges were in step with each other? That was a buy signal. As gox gets further from the pack the opportunity to perform profitable arbitrage emerges thus opening us up to a re-convergence of prices. Gox prices are high because its hard to withdrawal, and btce 's are low because its hard to deposit and hard to trust.

What I meant was the spread between the asks and the bids. Before the trap it suddenly grew out of proportions, the asks and bids became polarized. It was like a Mexican standoff before hell broke loose.

[SheHadMANHands]

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

I doubt he's hurting for money to the point that he'd seek out a bizarre way to manipulate markets like that.

Doing a good job as PayPal president pretty much precludes doing sketchy shit like pump/dumping new cryptos.

Almost fell on floor laughing at the thought ^

[iarsenaux]

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

I doubt he's hurting for money to the point that he'd seek out a bizarre way to manipulate markets like that.

Doing a good job as PayPal president pretty much precludes doing sketchy shit like pump/dumping new cryptos.

Imagine the fallout if he created a huge competitor because he'd been trying to make a quick buck for himself.

thanks for your opinion. i had never been to other exchanges before i entered bitcoin trading and this whole ups and downs is driving me crazy. now i believe that bitcoin is like a drug -- hallucinogen, depressant and stimullant

[Vycid]

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

I doubt he's hurting for money to the point that he'd seek out a bizarre way to manipulate markets like that.

Doing a good job as PayPal president pretty much precludes doing sketchy shit like pump/dumping new cryptos.

Imagine the fallout if he created a huge competitor because he'd been trying to make a quick buck for himself.

thanks for your opinion. i had never been to other exchanges before i entered bitcoin trading and this whole ups and downs is driving me crazy. now i believe that bitcoin is like a drug -- hallucinogen, depressant and stimullant

Don't worry, you build up an immunity after a while

EDIT: For all we know paypal and others could already be testing Bitcoin as a means of settlement between currencies, it would probably save them a lot in bank charges alone.

I've heard rumors that paypal has been considering Bitcoin as a funding method.

Makes sense but I wouldn't trade on it.

[MAbtc]

Has BTCChina been down? Didn't notice my ticker has been frozen for like an hour....

[I_bitcoin]

Has BTCChina been down? Didn't notice my ticker has been frozen for like an hour....

Tickin away on my screen

[MAbtc]

Has BTCChina been down? Didn't notice my ticker has been frozen for like an hour....

Tickin away on my screen

WTF lol..... frozen on bitcoinity AND bitcoinwisdom for me for an hour.... what gives....

[dwdoc]

JP Morgan is a believer.

http://www.ft.com/intl/cms/s/0/e230307a-61c4-11e3-aa02-00144feabdc0.html#axzz2n7oomiiO

[I_bitcoin]

Has BTCChina been down? Didn't notice my ticker has been frozen for like an hour....

Tickin away on my screen

WTF lol..... frozen on bitcoinity AND bitcoinwisdom for me for an hour.... what gives....

The NSA has frozen your account

[JimboToronto]

i believe that bitcoin is like a drug -- hallucinogen, depressant and stimullant

Don't forget laughing gas.    

[cbutters]

JP Morgan is a believer.

http://www.ft.com/intl/cms/s/0/e230307a-61c4-11e3-aa02-00144feabdc0.html#axzz2n7oomiiO

This has little to do with bitcoin, just an old paypal style payment system from 10 years ago, I don't know why people are even comparing this to bitcoin, and I don't know why journalists like to throw scare tactic headlines that are meaningless....

see here for a debunking article:
http://www.businessinsider.com/debunking-jp-morgan-bitcoin-2013-12

[KFR]

Yup.  After the China debacle everyone should have learned by now that headlines bear little relation to the story.

Here's a non-paywall version:
http://www.bbc.co.uk/news/business-25326289

Basically JP Morgan would like to do its own payment system "similar" to Bitcoin.  Good luck with that.

[adamstgBit]

No ATH yet ?
Still waiting 6100-6200 to be broken on BTCchina...

 

[ChartBuddy]

[adamstgBit]

oh shit watch out i think the rise might start to accelerate

[paratox]

*Chart*

The boom-bust cycles seem to  happen really fast now.

[JorgeStolfi]

From the charts I understand that some 200,000 BTC were traded on Mt Gox while the price was above 1000 USD.  Presumably some coins were traded several times, but even so there must be atleast 20,000 bitcoins, possibly over 100,000, that were bought by their current owners at over 1000 USD.

I suppose that those people will be unwilling to sell for less than they paid for, unless they are convinced that prices are abot to crash for good.  They must be the ones setting the price now.   Relatively experienceed buyers who have open bids in Mt.Gox seem unwilling to raise their bids to meet the sellers; the market is a standoff as it was for several hourse before the last rally.   But now and then some outsider comes in determined to buy some small amount of BTC, so it bids at the lowest price that will buy him that amount.  It is these small transactions that  define the current price.

[Bitcoines]

bad news in china or why their chart is going down again? 

[adamstgBit]

bad news in china or why their chart is going down again?  

random walk with an upward drift

thats just how markets move

don't panic.