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

[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.

[jojo69]

[MAbtc]

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.

What would you consider short? I'd say we were in a bear market until July, at least, right?

My thinking is that a lot of newbies will buy in, panic sell and get burned. Then they'll exit or sit on the sidelines. What proportion -- I have no idea.

[NewLiberty]

Anyone taking odds the Lee brothers figured out how to get money into China, and bitcoins out?
Not likely to be hard given their situation.  Grats to them.  I wish them every success if so.

[windjc]

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.

What would you consider short? I'd say we were in a bear market until July, at least, right?

My thinking is that a lot of newbies will buy in, panic sell and get burned. Then they'll exit or sit on the sidelines. What proportion -- I have no idea.

I think the most bullish fundamental right now is the presense of big money that hasn't entered the market OR, more importantly, has been waiting for the right time to enter the market.

I think this last run up was fueled in great part by small investors. And those ran out after a while, because the price was intimidating and/or the holidays, etc.

However, I imagine a lot of wealthy people were interested in entering now that Bitcoin is getting more respect, but knew that they wanted to find a good entry point.

This may cause money to flow in these next couple of weeks that otherwise would not have.

[User705]

Hard to think it's the right time to jump in when a country with 20% of the worlds population became fairly hostile to bitcoin.

[tHash]

What would you consider short? I'd say we were in a bear market until July, at least, right?

My thinking is that a lot of newbies will buy in, panic sell and get burned. Then they'll exit or sit on the sidelines. What proportion -- I have no idea.

July?   Why would you think that?   If you mean we won't bubble again until then, then I agree.   We spent only 3 months in a bear market after April.  Crash April 10, last low July 4.   I expect this bear market to be shorter.   The development and usefulness of bitcoin is accelerating.

[CryptStorm]

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.

What would you consider short? I'd say we were in a bear market until July, at least, right?

My thinking is that a lot of newbies will buy in, panic sell and get burned. Then they'll exit or sit on the sidelines. What proportion -- I have no idea.

I think spring, not summer, but who knows. Once we are out of the big parabolic stuff, it's prolly sidewise for a while, too.

[spooderman]

Hloy siht. Is taht wall real? (on stamp)

edit: someone REALLY wants the price to fall I guess

[Dragonkiller]

wow massive wall

[Patel]

Hloy siht. Is taht wall real? (on stamp)

damn 4.5k wall

[gandhibt]

thats definitly a wall

[MAbtc]

What would you consider short? I'd say we were in a bear market until July, at least, right?

My thinking is that a lot of newbies will buy in, panic sell and get burned. Then they'll exit or sit on the sidelines. What proportion -- I have no idea.

July?   Why would you think that?   If you mean we won't bubble again until then, then I agree.   We spent only 3 months in a bear market after April.  Crash April 10, last low July 4.   I expect this bear market to be shorter.   The development and usefulness of bitcoin is accelerating.

[granathus]

Wow, shit is about to go DOWN!

[virtualfaqs]

Hloy siht. Is taht wall real? (on stamp)

damn 4.5k wall

Wow. Biggest wall I've seen in a long time that's anywhere near the asking price.

[MAbtc]

Damn it. I keep telling myself to switch to Stamp. Stamp getting so bearish!

[spooderman]

Wish I had 2 million just to piss that guy off.

Damn it. I keep telling myself to switch to Stamp. Stamp getting so bearish!

U still tarding on gox?

[Searing]

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....

don't get me started my bank took 4 1/2 hrs 2 bank managers and a teller to send a wire xfer to knc Sweden USD only....and they still screwed it up!

the bank has an automatic computer switch up the line that AUTOMATICALLY  convert it to the country it is going to currency if the conversion is
advantageous to the bank via usd to say Swedish coin xfer .this of course was unknown to the people I dealt with they said sure USD only no problem

so it hit a USD only account in Swedish currency

and it sat for 4 weeks and no one could find it ..the Swedish bank expected it to bounce and come back to my bank then to them in USD the American bank would not do
that because they made a few bucks on the currency conversion..ie it never showed up at KNC finance dept...massive panic on my part and confusion
on knc's part ..thank god they actually believed me (probably due to previous instances they have seen of clueless banking also sent them a pdf of my wire xfer info on email)

with www.kncminer.com help it was resolved after a month of pain....and they let me KEEP my place in their first order que line as paid
and I have 15 pages of email/reply thread to get this resolved..they could have easily just kicked me to the curb and said too bad your bank
screwed up you are on your own..they did not do that ..very impressed I am!

so after all this bitcoin HAS TO WORK...I mean this was a mess (bfl would have let me sink and figure it out on my own)..I mean what a zoo!

anyway just a warning to usa bank users ...this is a big bank trick (in my case TCF Bank) went to the small local bank and resent took them 10min
and was a big yawn went out in 1hr was confirmed 12hr later ..they actually knew what they we're doing went straight USD with no issue...

when knc staff came to work ...viola it was there and my orders now all show paid with no loss of place in line from xfer (when this initially happened
on the email to knc I did a copy of the nov wire xfer attempt as a pdf to the email...so they could see it was really lost and did exist ...for anyone in a
similar situation)

needless to say my commercial banking  has all moved to this small bank (Voyager bank)

anyway....it was quite the clus*t*r**k..it is all resolved now.....makes me wonder if wire xfers are this bad in the USA what are they like in some
of the other countries (shudder)

whew!!!!!

sorry if off topic but figure the above is important to anyone doing wire xfers in usa

Searing

[ChartBuddy]

[MAbtc]

Wish I had 2 million just to piss that guy off.

Damn it. I keep telling myself to switch to Stamp. Stamp getting so bearish!

U still tarding on gox?

I trade on BTC-E. I've always preferred it to Stamp, partly because BTC-E is/was more volatile and saw lower lows, and partly because Stamp's trade engine is shit.