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

[I_bitcoin]

Someone just market bought 500 coins.

http://www.youtube.com/watch?v=0fyE6N4JQt0

LMAO!

LOL.

Would've have been a whole different story if that room was full of Goat Shit Coins.

If that room was full of bitcoins it would be empty.   Whoa, freaky thing to think about......

[CryptStorm]

Yeah, I want some of the 400-500$ coins, I'm thinking back to  900-1000 by new years, or just after

Som ting Wong!!!! You no read 1W chart? You no read adoption curve??? You no understand what we saying???

Well, to be fair, the adoption curve does not move in a straight line on the exponential scale.   Adoption comes in spurts, so we may lag behind the curve for a while then shoot over it for a while.   Look at early this year, after spending a long time in the $10 range, we shot up to a "stable" $100ish, with a few (not so)minor bumps along the way.   

I don't expect that our growth will always be along the line, and to be sure, at some point we will fall way below the predicted trend and stay there.   People don't find out about and enter bitcoin at a set rate.   Events, etc. accelerate or stagnate the adoption.   

Quick piece of math for you to do, Gox just announced they crossed 1 million customers.   I am sure the other exchanges have at least some customers that never signed up on Gox, so that is a lot of people.   How many coins are out there to go around?   We know how many have been mined, but there are a LOT in cold wallets, lost, etc.   There are not enough coins for those people to have even 4 each probably, and the price would be astronomical once they did.

Short term may still have some bear left in it, but I think the manipulators/accumulators are doing a pretty good job of keeping even reasonable people bearish.   As long as they are successful, it is a bear market.   Take advantage of it, but there is a great risk of getting burned at some point.   

Try not to make it look like you are telling someone they are stupid because they have different opinions than you do . . .

Ha, tHash, thanks. I have a fever, and I'm just acting stupid. You're right, of course, in that I don't mean to sound like an a$$hat, and, the older I get, the more I believe in the maxim 'speak no ill of any man', if I were only that capable to accomplish it. Apologies, for any condescension, and thanks for the reminder.

However, I think your point about spurts on the adoption curve is precisely correct, on its face, but I'd encourage you to grok it deeper-- perhaps, I have become blinded or am mistaken in my analysis, or that there are other alternative viewpoints that we might derive, as well. Point being, this 'spurt', in the broader sense, includes the run-up from 266, in October. It's pressure drove us up to the high, and now we are witnessing depressurization, or return to our norm (log increase). There will be other spurts, and, naturally, they will not be scheduled. And, mostly, as we move up the S-curve, they will drift away from logarithmic gains, towards linear (vertical, in terms of the S-curve).

In terms of very short term moves, today or next week, it's really hard to say. But, that we return to a low in the mid term (before winter is through), seems a wise acknowledgement. Also, that due to the nature of the spurts, we will not retest the ATH's this round-- as I've suggested on other posts (that are much less fun that this thread), those who can/will do something about BTC in this spurt have already acted, the adoption spurt has 'worked'.

 

[granathus]

China is about to wake up. What will they do? Just cook some noodles and chill?

[molecular]

OK, i guessed 715@12pm, i saw it was like 660 the, and 630-640 now.

Thought it was going down today, but wrong by how much!

C'mon bitstamp verify, I want to get in on some of this action.

Save yourself much grief, buy low, wow profit, not so doge.

Yeah, I want some of the 400-500$ coins, I'm thinking back to  900-1000 by new years, or just after

Som ting Wong!!!! You no read 1W chart? You no read adoption curve??? You no understand what we saying???

Om sing long, dude!

[Four-Rings-Workshop]

Som ting Wong!!!! You no read 1W chart? You no read adoption curve??? You no understand what we saying???

Y/N,
 You (guys) are saying back to like 300 or so and I think that last wave of media attention is bringing in so much money and people to BTC  that it's only a matter of time to get above 1K/btc again and with the crazy swings of the  last week who knows where it will settle down. or when...

just a noob though. I know nothing

[Hodlor]

Hodlor.

[molecular]

just a noob though. I know nothing

you're in good company. The only difference to the pros is that some of them think they know something.

[mbets]

Hodlor.

Sound advice

[freethink2013]

wish these doge coin mofos would fuck off this thread. it's not going to be the meme of 2014 but bitcoin will still be around. starwars kid should launch a crypto

[wachtwoord]

Hodlor.

One does not simply walk ..... Oh wait ...

[Syke]

Listen, I read loaded's posts. You guys have to understand that if he really was carrying bags of cash, he would not have been able to set foot on Chinese soil.

What makes you think getting money into China is hard? That is what China does. They run huge trade surpluses. Just with the US it's like 300 B USD every year.

[granathus]

Listen, I read loaded's posts. You guys have to understand that if he really was carrying bags of cash, he would not have been able to set foot on Chinese soil.

What makes you think getting money into China is hard? That is what China does. They run huge trade surpluses. Just with the US it's like 300 B USD every year.

Invoice manipulation is a huge way to get USD in.

[tHash]

But, that we return to a low in the mid term (before winter is through), seems a wise acknowledgement.

I have a bit of cash still sitting around for just such a case.

It takes a long time for people to get verified on the exchanges.   There are many people still waiting for verification I am sure.   While a retest of the low would be nice for some more coins, I feel there is a lot of buying pressure on the way.   Many will wait until we break from the trend, but many who first saw the price racing through $800 or $900 will probably see this as a great entry price, providing for buying pressure that may not let us dip as far as we hope.  

I don't know, I just feel that we are running out of coins, and the big boys don't want anyone to know about it yet.  Watching the ask volume has been interesting for me, as the coins up high that show up and disappear are all there to provide the illusion that there are a lot of coins up for sale.   Most(all?) of those would be owned by whales.

Just don't risk a significant percentage of your coins on the bet we will retest the lows.   Since it makes sense that BTC will be worth quite a bit more in the future, I don't see lost coins as "only" a few hundred lost.  The biggest mistake I have made was selling quite a few coins in the last crash, waiting for lows to reappear that never did . . .   Right now I am only 10% fiat.

[Syke]

Invoice manipulation is a huge way to get USD in.

It's ridiculous that with the current banking system, it's faster to physically transport money by hand than to wire it overseas.

[Voodah]

Have you guys heard about the NSA and RSA scandal ??

[MAbtc]

But, that we return to a low in the mid term (before winter is through), seems a wise acknowledgement.

I have a bit of cash still sitting around for just such a case.

It takes a long time for people to get verified on the exchanges.   There are many people still waiting for verification I am sure.   While a retest of the low would be nice for some more coins, I feel there is a lot of buying pressure on the way.   Many will wait until we break from the trend, but many who first saw the price racing through $800 or $900 will probably see this as a great entry price, providing for buying pressure that may not let us dip as far as we hope.  

As a newbie entering during the April crash, this was not my mindset. But maybe I am an exception. I saw the price crashing -- at first I jumped in, thinking it would shoot right back up. When it continued to fall, I turned around and panic sold and lost half my fiat. As I watched the price plummet I sat on the sidelines, even after an obvious bottom. Fun times to look back on!  

I recall the long verification queues as price crashed.....

[freethink2013]

550 christmas low, 850 christmas high

[jojo69]

Invoice manipulation is a huge way to get USD in.

It's ridiculous that with the current banking system, it's faster to physically transport money by hand than to wire it overseas.

yup

[Voodah]

Invoice manipulation is a huge way to get USD in.

It's ridiculous that with the current banking system, it's faster to physically transport money by hand than to wire it overseas.

Sad but true. Not for long tho....

[tHash]

As a newbie entering during the April crash, this was not my mindset. But maybe I am an exception. I saw the price crashing -- at first I jumped in, thinking it would shoot right back up. When it continued to fall, I turned around and panic sold and lost half my fiat. As I watched the price plummet I sat on the sidelines, even after an obvious bottom. Fun times to look back on!  

I recall the long verification queues as price crashed.....

I think the long verification queues were responsible for the very short bear market.   Each should be shorter . . .

I have to admit that I can't put myself in the position of the newbie.   I would think that many would look at charts and realize we won't be shooting back up right away and take their time with being wise, maybe not.   Some will I am sure.   In April we only had the one previous major crash to go on, and I too sold more than I should have, and sat on the sidelines for too long with that cash.