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

[Rampion]

India aint coming to help anytime soon:

http://www.dnaindia.com/india/report-first-time-in-the-country-ed-raids-a-bitcoin-seller-in-ahmedabad-1941187

So let me get this straight the raided because some Rs20-30 rupees where traded. One bitcoin currently costs Rs 46600

This made me lol very hard:

No country has legalised Bitcoin as of now because of its opaque nature

[Parazyd]

Stamp should start catching up soon
I'm giving away some more fiat to them.

[TERA]

Bid-wall re-placed to $795. I've witnessed this behavior in a falling alt-coin...

[Parazyd]

Bid-wall re-placed to $795. I've witnessed this behavior in a falling alt-coin...

Keep calm and hodl.

[wachtwoord]

India aint coming to help anytime soon:

http://www.dnaindia.com/india/report-first-time-in-the-country-ed-raids-a-bitcoin-seller-in-ahmedabad-1941187

So let me get this straight the raided because some Rs20-30 rupees where traded. One bitcoin currently costs Rs 46600

This made me lol very hard:

No country has legalised Bitcoin as of now because of its opaque nature

Haha what? I'm laughing out loud here

[stereotype]

India aint coming to help anytime soon:

http://www.dnaindia.com/india/report-first-time-in-the-country-ed-raids-a-bitcoin-seller-in-ahmedabad-1941187

So let me get this straight the raided because some Rs20-30 rupees where traded. One bitcoin currently costs Rs 46600

This made me lol very hard:

No country has legalised Bitcoin as of now because of its opaque nature

"Bitcoin came into existence just 3-year ago......."

Lazy journalism, considering Bitcoin is 9 days from its 5th birthday.  

[Parazyd]

Maybe their definition of existence is actually having value in fiat.

[rezurect]

India aint coming to help anytime soon:

http://www.dnaindia.com/india/report-first-time-in-the-country-ed-raids-a-bitcoin-seller-in-ahmedabad-1941187

So let me get this straight the raided because some Rs20-30 rupees where traded. One bitcoin currently costs Rs 46600

Its Rs 20-30 crore.
1crore=10 million

The Enforcement Directorate is probing to see if any Money Laundering occured , Foreign Exchange violations and stuff.
Apparently the Reserve Bank of India issued only a trading advisory, but did not ban Bitcoin.
http://rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=30247

[Loewy]

Hi Guys!

I am currently trying to invest about a couple of bucks in Bitcoin, and have been reading up on all kinds of predictions and advice (dreams even) over the last couple of days to get an idea of how to do this.

I am not putting in more $ than I am prepared to lose, but considering it is still quite a bit of money to me (though it may be peanuts to some of you guys) I want to make an informed and rational plan and not buy at an ath this time. I know that when I start looking at trade charts and the news constantly I will only behave like the herd and lose coins instead of gaining (holding) them.

My guess is the price will go down some in the near future and, in the case of some more bad news from china or something, maybe even dip quite low. After that I presume it will rise again to new records. Since I'm buying I want to buy as low as possible of course, but I do not want to risk missing the boat completely before the price rises again.

So I came up with these orders on Bitstamp (lets say I want to invest a thousand bucks):

at $521/BTC buy .333BTC for $173.49
at $357/BTC buy .333BTC for $118.88
at $303/BTC buy .750BTC for $227.25
at $273/BTC buy 1.76BTC for $480.38

Comments are highly appreciated.

[macsga]

Rpietila , Whats your insight for early 2014?

According to the trendline model, we should reach the ATH earliest May, and before that have a consolidation in 500 area, with possibly 1-2 dips below that. The trendline is the sum total of all news, etc. so it will most likely continue to be valid this year as it has all the previous years. SlipperySlope's logistic model has actually a less steep trendline because it is based on MtGox data only whereas I have all of it since 2009.

Due to several risks (most of it related to exchanges) I advocate keeping 50% of your (liquid) net worth in paper wallets. The rest should be mostly in fiat in this kind of condition where we are in a bear market following the bubble top, and the trendline does not allow a further uptrend just yet.

If you recall the April bubble and its aftermath, there was a high consolidation in 130 area which lasted for several weeks before the final capitulation. I don't believe we can stay at 750 and continue going up from here.

Today I'm paying for a bet I've lost. My position was we'd "never go over $710" and the opposite side was "over $800" by Friday. Oh well...

[marvinrouge]

Hi Guys!

I am currently trying to invest about a couple of bucks in Bitcoin, and have been reading up on all kinds of predictions and advice (dreams even) over the last couple of days to get an idea of how to do this.

I am not putting in more $ than I am prepared to lose, but considering it is still quite a bit of money to me (though it may be peanuts to some of you guys) I want to make an informed and rational plan and not buy at an ath this time. I know that when I start looking at trade charts and the news constantly I will only behave like the herd and lose coins instead of gaining (holding) them.

My guess is the price will go down some in the near future and, in the case of some more bad news from china or something, maybe even dip quite low. After that I presume it will rise again to new records. Since I'm buying I want to buy as low as possible of course, but I do not want to risk missing the boat completely before the price rises again.

So I came up with these orders on Bitstamp (lets say I want to invest a thousand bucks):

at $521/BTC buy .333BTC for $173.49
at $357/BTC buy .333BTC for $118.88
at $303/BTC buy .750BTC for $227.25
at $273/BTC buy 1.76BTC for $480.38

Comments are highly appreciated.

you're optimistic ! Even if you're right and bitcoin crashes, you have little chances to see your orders under 400 filled (so even if you're lucky you could end with almost no coins
Even if you're bearish you could think about what you would do if bitcoins doesnt go below 600 anymore (you would completely miss the boat)

[F-bernanke]

Hi Guys!

I am not putting in more $ than I am prepared to lose, but considering it is still quite a bit of money to me (though it may be peanuts to some of you guys) I want to make an informed and rational plan and not buy at an ath this time. I know that when I start looking at trade charts and the news constantly I will only behave like the herd and lose coins instead of gaining (holding) them.

Thats peanuts indeed, I don't know how old you are or where youre from, you should look into increasing your earnings, en slashing your costs.

[mmitech]

good morning guys, I woke up to see that bitcoin dipped before than I see all this support, I think we are taking off ! any thing else I missed ?


7000 BTC to $700, WOW very bids much profit so money hahahahaha

[TERA]

What is with the bid at gox? It just keeps going up. Who is depositing all this fiat at gox?

Edit: I think they just fixed i286 and I don't see that crazy bid and ask anymore.

[macsga]

Hi Guys!

I am currently trying to invest about a couple of bucks in Bitcoin, and have been reading up on all kinds of predictions and advice (dreams even) over the last couple of days to get an idea of how to do this.

I am not putting in more $ than I am prepared to lose, but considering it is still quite a bit of money to me (though it may be peanuts to some of you guys) I want to make an informed and rational plan and not buy at an ath this time. I know that when I start looking at trade charts and the news constantly I will only behave like the herd and lose coins instead of gaining (holding) them.

My guess is the price will go down some in the near future and, in the case of some more bad news from china or something, maybe even dip quite low. After that I presume it will rise again to new records. Since I'm buying I want to buy as low as possible of course, but I do not want to risk missing the boat completely before the price rises again.

So I came up with these orders on Bitstamp (lets say I want to invest a thousand bucks):

at $521/BTC buy .333BTC for $173.49
at $357/BTC buy .333BTC for $118.88
at $303/BTC buy .750BTC for $227.25
at $273/BTC buy 1.76BTC for $480.38

Comments are highly appreciated.

If I were you, I'd go all in at once. Pick up your entry point and dive in. If you weighted this entry point OK, then you will see your USD/BTC rising; if not you will still have something that will possibly worth a great deal of $ after 6 months minimum. The idea you're presenting is only good only when you want to sell your BTCs (in reverse order of course)

[mmitech]

What is with the bid at gox? It just keeps going up. Who is depositing all this fiat at gox?

Edit: I think they just fixed i286 and I don't see that crazy bid and ask anymore.

yes I think you were right yesterday, the bid looks different today even the ask looks way lower than yesterday, and Bitstamp API is also fixed, I apologize for arguing about the bids yesterday

[prof7bit]

no I am looking only at gox and it is 52+ million USD look to my post above

and when I zoom out you see this

You must first multiply each *individual* bid with its price to get the USD value of each bid and *then* add the USD values. This screenshot you posted is doing it wrong. Its totally meaningless to add up the sum of BTC on the bid side.

[Loewy]

you're optimistic ! Even if you're right and bitcoin crashes, you have little chances to see your orders under 400 filled (so even if you're lucky you could end with almost no coins
Even if you're bearish you could think about what you would do if bitcoins doesnt go below 600 anymore (you would completely miss the boat)

I see what you mean. I should think about what happens if btc doesn't go below 600 anymore. Though, well, I really think it's way too high right now and below 600 should be probable. Thanks for the advice!

Thats peanuts indeed, I don't know how old you are or where youre from, you should look into increasing your earnings, en slashing your costs.

Well, since I didn't state the amount I'm investing, this is kinda funny. Thanks for the "increasing your earnings and slashing your costs" advice, I am doing that also (quite successfully) in the last couple of months.

[TERA]

no I am looking only at gox and it is 52+ million USD look to my post above

and when I zoom out you see this

You must first multiply each *individual* bid with its price to get the USD value of each bid and *then* add the USD values. This screenshot you posted is doing it wrong. Its totally meaningless to add up the sum of BTC on the bid side.

If that is the explanation for how the bid was wrong then what is the explanation for how the ask was wrong?

[F-bernanke]

830 broken on gox