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

[mmitech]

bitcoins keep coming to the exchanges and Asks keep building, Bids are really slow and not catching up that fast




couple of hours ago the sum of total ASKs was around 15000 BTC





most interesting is the Bid sum seems to be the same, this means who ever sold before or had low bids didn't change that position yet.

[billyjoeallen]

What happened to the usual weekend dip? I tried to day trade it and now I'm stuck in worthless depreciating fiat. Good thing it was only one coin, one I bought for $17.00  ;-)

You've been around long enough that you should know not to do that unless we have been trending down for the week already.  In other cases it is too risky precisely because people do it anyway.  Bulls know this and will ramp it on the weekends when they have control.

I guess I'm too much of a contrarian. I bought that coin on the way down from $31 in 2011 (along with a few others). I was selling the whole ramp up from $350 to $1200 and buying back on the way down. My biggest mistake was taking my profits in fiat instead of BTC. Stupid dollars. What am I supposed to do with those? Wipe my butt?

[Richard Branson]

most interesting is the Bid sum seems to be the same, this means who ever sold before or had low bids didn't change that position yet.

It just means that bid sum is not relavant to judge anything.
Most bids are way below the current price.

[optimi]

i just found out what caused this jump !

http://motherboard.vice.com/blog/now-even-the-girl-scouts-accept-bitcoin

https://i.imgur.com/g5LoDk8.gif

[notme]

What happened to the usual weekend dip? I tried to day trade it and now I'm stuck in worthless depreciating fiat. Good thing it was only one coin, one I bought for $17.00  ;-)

You've been around long enough that you should know not to do that unless we have been trending down for the week already.  In other cases it is too risky precisely because people do it anyway.  Bulls know this and will ramp it on the weekends when they have control.

I guess I'm too much of a contrarian. I bought that coin on the way down from $31 in 2011 (along with a few others). I was selling the whole ramp up from $350 to $1200 and buying back on the way down. My biggest mistake was taking my profits in fiat instead of BTC. Stupid dollars. What am I supposed to do with those? Wipe my butt?

Exactly.  Any fool could have made USD profits in this market the past couple years.  If you can't increase your btc, don't trade unless you need fiat or are looking to exit the market.

[DaSheep]

most interesting is the Bid sum seems to be the same, this means who ever sold before or had low bids didn't change that position yet.

0.3125 @ 400.0 --> 0.1389 @ 900.0
same bidsum, different position

[adamstgBit]

lots of action today!

as expected after spiking into major resistance zone

i have some 0.125 sell orders in, everyone even me has a price tag... its sad but true!

[jojo69]

golly, would ya look at that

http://www.zerohedge.com/contributed/2014-01-05/future-money-here-zero-trust-digital-currency-contracts

[ElectricMucus]

What happened to the usual weekend dip? I tried to day trade it and now I'm stuck in worthless depreciating fiat. Good thing it was only one coin, one I bought for $17.00  ;-)

You've been around long enough that you should know not to do that unless we have been trending down for the week already.  In other cases it is too risky precisely because people do it anyway.  Bulls know this and will ramp it on the weekends when they have control.

I guess I'm too much of a contrarian. I bought that coin on the way down from $31 in 2011 (along with a few others). I was selling the whole ramp up from $350 to $1200 and buying back on the way down. My biggest mistake was taking my profits in fiat instead of BTC. Stupid dollars. What am I supposed to do with those? Wipe my butt?

Exactly.  Any fool could have made USD profits in this market the past couple years.  If you can't increase your btc, don't trade unless you need fiat or are looking to exit the market.

Next: The inevitable collapse of hubris. ^TM

[notme]

golly, would ya look at that

http://www.zerohedge.com/contributed/2014-01-05/future-money-here-zero-trust-digital-currency-contracts

The only thing missing is the one thing I wanted to know as soon as I saw what he made: what are the rules for verifying price quotes and how can we trust the sources not to manipulate the signal for their own gain?

If you can solve that problem, you're golden.

[ElectricMucus]

golly, would ya look at that

http://www.zerohedge.com/contributed/2014-01-05/future-money-here-zero-trust-digital-currency-contracts

The only thing missing is the one thing I wanted to know as soon as I saw what he made: what are the rules for verifying price quotes and how can we trust the sources not to manipulate the signal for their own gain?

If you can solve that problem, you're golden.

lol that's already part of the ripple protocol

[notme]

golly, would ya look at that

http://www.zerohedge.com/contributed/2014-01-05/future-money-here-zero-trust-digital-currency-contracts

The only thing missing is the one thing I wanted to know as soon as I saw what he made: what are the rules for verifying price quotes and how can we trust the sources not to manipulate the signal for their own gain?

If you can solve that problem, you're golden.

lol that's already part of the ripple protocol

I see issues with Ripple's solution.

[JimboToronto]

Next: The inevitable collapse of hubris. ^TM

Whose hubris collapses is yet to be determined.

Touche.

 

[dnaleor]

My biggest mistake was taking my profits in fiat instead of BTC. Stupid dollars. What am I supposed to do with those? Wipe my butt?

 

Indeed, classic newbie mistake. When I learned about bitcoin (the end of 2012) I immediatly understoot that when I tried to trade, I should keep my profit in BTC

Boy, I am very happy I used that tactic and did not spend "profit in fiat" on some silly gadgets

[spooderman]

That wall at 1200 looking insurmountable

[T.Stuart]

That wall at 1200 looking insurmountable

Just be very, very, very slightly patient

[alexeft]

That wall at 1200 looking insurmountable

It will move...

[ElectricMucus]

Next: The inevitable collapse of hubris. ^TM

Whose hubris collapses is yet to be determined.

Touche.

 

All hubris collapses.

[MAbtc]

Hmmm. Just woke up and I don't think I can help but sell some into this. Let's hope I don't regret.

[vokain]

I will buy a lambo when I can get one for < 5 btc.

edit: forget that, I'd actually like something that doesn't run on fossil fuels. Are there any green super cars?

McLaren P1 plug-in hybrid. http://cars.mclaren.com/p1.html

Sorry to be a killjoy but for the time being fuck the Lambos!  

Please everyone prepare a small amount of your stash (doesn't have to be anything more than one twentieth perhaps?) in a wallet that is as easy for you to use and as portable as possible.

Then buy small stuff! A hamburger, a Zynga APP, a sex toy... doesn't matter what just do it!

If you want the growth to continue then merchants have got to report sales or it won't work in the long term.

Boring I know, but for most the Lambos will come a bit later!  

The lambo was a PR stunt for btc. I buy just about everything i can for life using btc. But the media could care less about my socks!

Goat just shares in the Vision
thank you for buying the lambo, I sure as hell didn't want one.