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

[Drabla]

Gox seems to be the only exchange that keeps  1000$ - btc-e, bfx, bitstamp, etc all 50-80$ below...
Thoughts?

[solarflare]

Disinformation

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Timothy B. Lee: What informs your thinking about the future of Bitcoin?
Mark Williams: I used to be the senior vice president of a commodity trading firm in Boston. I'm very familiar with commodity prices with high volatility.

That's where I stopped reading.

[alexeft]

Gox seems to be the only exchange that keeps  1000$ - btc-e, bfx, bitstamp, etc all 50-80$ below...
Thoughts?

It usually is like that.

[fred1111]

Disinformation

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Timothy B. Lee: What informs your thinking about the future of Bitcoin?
Mark Williams: I used to be the senior vice president of a commodity trading firm in Boston. I'm very familiar with commodity prices with high volatility.

That's where I stopped reading.

To be fair, Bitcoin is a commodity which is highly volatile. That being said, he seems to have overlooked all the other properties of Bitcoin. He's one of those who doesn't want to bother finding out what the fuss is all about.

[hmmmstrange]

Disinformation

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Thanks for that. The washington post needs a btc tip address. Well worth the reading for the laughs.

[fred1111]

The press is afraid of being accused of pumping up Bitcoin, so they publish humoristic articles instead

[alexeft]

NEWSFLASH:

After a question from a Greek EU parliament member about what happens to bank deposits that are below 100000 euros in case of a bank bail-in, Joaquín Almunia answered that the EU will not demand a haircut of those deposits, but that the country to which the bailed-in bank belongs can ask for it.

Original article: http://www.imerisia.gr/article.asp?catid=26516&subid=2&pubid=113163037

Translated to english: http://www.imerisia.gr/article.asp?catid=26516&subid=2&pubid=113163037


Banks are of no use anymore!!  

[beaconpcguru]

Disinformation

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Anybody that would agree with this guy doesn't own Bitcoins, so they haven't got any to sell.

Hopefully the disinformation stops by the time anybody with a brokerage account can short.

I was going to highlight all the parts he was wrong about but then I realized I would just be copying and pasting the whole thing.

[Nemo1024]

What has happened during the night? Could someone, please, give a short wrap-up, please?
It's the first night I held all BTC overnight, and of course, it goes down!
Oh, and good morning from Europe.

[JimboToronto]

What has happened during the night? Could someone, please, give a short wrap-up, please?
It's the first night I held all BTC overnight, and ofcourse, it goes down!
Oh, and good morning from Europe.

One serious series of bear dumps between 2:30 and 3:00AM UTC. Otherwise horizontal.

Solid support at 1000.

[nanobrain]

What has happened during the night? Could someone, please, give a short wrap-up, please?
It's the first night I held all BTC overnight, and ofcourse, it goes down!
Oh, and good morning from Europe.

One serious series of bear dumps between 2:30 and 3:00AM UTC. Otherwise horizontal.

Solid support at 1000.

We must be looking at different charts.
Since europe went to bed and awoke theres been a push past a 1000 and a concerted pull back on all the exchanges except the magictux factory which is chugging along on volume thinner than a supermodels wrist.

[Nemo1024]

Hmm, thanks. Bitstamp went only as high as 988, and I bought back in at 985.

I warned you guys, that I was going all-BTC overnight, so you had ample time to sell!

So, currently there are no news to justify a fall, right? No need to sell for me.

I'll try out my new strategy: hold when in doubt, sell only at the start of a sharp move down.

Until I cashed out my profits, I was tending to think in terms of dollars, now, I am looking after that BTC value.

If the number of BTC I own grows, even if their total value in $ goes down short-term, I am happy.

[nanobrain]

Disinformation

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Thanks for that. The washington post needs a btc tip address. Well worth the reading for the laughs.

I'm getting more and more concerned that no-one here seems to want to explore or even counter the 'negative' arguments around bitcoin or crypto...I don't mind reading erudite or informed denunciations of such arguments but everyone seems awful keen to dismiss any naysayers as idiots/fools without actually making a cogent defence.

[OldGeek]

...I don't mind reading erudite or informed denunciations of such arguments but everyone seems awful keen to dismiss any naysayers as idiots/fools without actually making a cogent defence.

My grandfather gave some good advice:  If you get into a serious discussion/argument with an idiot, bystanders will have a difficult time telling the difference between the two of you. 

[Vycid]

Disinformation

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Thanks for that. The washington post needs a btc tip address. Well worth the reading for the laughs.

I'm getting more and more concerned that no-one here seems to want to explore or even counter the 'negative' arguments around bitcoin or crypto...I don't mind reading erudite or informed denunciations of such arguments but everyone seems awful keen to dismiss any naysayers as idiots/fools without actually making a cogent defence.

After you've read 100 articles written by "journalists" or even "economists" who have refused to do even a few minutes worth of research, you get burned out. Making intelligent arguments to counter a ridiculous claim/outright lie is a waste of time. I'm glad there are some people who bother, but seriously... it's a never ending job with no gratification to be had for your efforts.

Yep. I was about to say exactly this.

The arguments have already been made, this is just the newest Johnny Come Lately to not understand what Bitcoin is.

[TERA]

My TA for the evening:

[alexeft]

Disinformation

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Thanks for that. The washington post needs a btc tip address. Well worth the reading for the laughs.

I'm getting more and more concerned that no-one here seems to want to explore or even counter the 'negative' arguments around bitcoin or crypto...I don't mind reading erudite or informed denunciations of such arguments but everyone seems awful keen to dismiss any naysayers as idiots/fools without actually making a cogent defence.

We don't even seem to care about positive news. I just posted how any deposit amount can be confiscated in the EU and nobody cares!

[fr33d0miz3r]

My TA for the evening:

Totally agreed with your TA.

[OldGeek]

We care but we aren't surprised or outraged because it has been analyzed and discussed before.  Those of us here are aware of the potential tipping point of worldwide fiat collapse but we have very little influence on the 'common' populace.

We should be concerned but we have little recourse right now.

[OldGeek]

In other news:  I'm surprised to see more than just the usual bot trades on MtSux.  Seems a few have posted some reasonable bids and asks.  Wonder what that means?