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

[Peter R]

Hmm...I think I may have placed my bids too low.  

I guess they call it day-tarding for a reason  

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[seleme]

This is actually really good news. Charlie was not an asset to the bitcoin community. It was a shame that the winklevoss ever got involved with him but I'm glad they shut down bitinstant when they found out.

While I'm not going to sell bitcoins just because of this, I do think this is terrible news. A person has just been put in jail, on bogus "trading with some people, who might have been trading with some other people, who might have been selling plants to people" charges. Seeing certain individuals in Bitcoin community dump the guy, just because he's "not an asset" or something, is making me sad and angry. I would guess you and me are sort of "not an asset" types either, even more so than Charlie. So what, does it mean we deserve to be locked up?

We don't know that. If they don't have explicit proofs of him being part of organized crime group then it's certainly stupid arrest and his lawyers would deal with it pretty easily.

But maybe they have that proof and are not stupid to do it without it. I don't know guy, so I certainly won't take his corner just like that.

[porcupine87]

This is actually really good news. Charlie was not an asset to the bitcoin community. It was a shame that the winklevoss ever got involved with him but I'm glad they shut down bitinstant when they found out.

2 hands.
One hand: Look, Bitcoin is used of illegal actions. We must restrict Bitcoin.
Other hand: Look, the bad guys have no chance with Bitcoin. Bad guys get the signal to use cash.

It is like with the fall of Silk Road. Many people thought, this is really bad. Other people thought, that is not really bad.

But Charlie who? Never heard of him. But I heard of the Russia...

[TERA]

So it looks like I was wrong about the stabilization after all.

We're currently 3% below where we were before the news. Hardly destabilization so far.

I was being sarcastic. Yesterday the bulls were saying CCMF and I said we'd probably stabilize at 810 instead.

[mellowyellow]

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775  

Not as bad as me, sold at 814, went out to walk the dog, got back and realised I'd actually bought more at 814 and were already sub 790 - epic day for me

[seleme]

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775  

If that would make you feel slightly better, I don't consider myself worst trader ever but I still do such stuff pretty regularly

[JorgeStolfi]

Kinda funny to see all exchanges act so different. Stamp/btc-e dumping, hyubi not really giving a fuck, and Gox is just sitting near that 1k mark like a kid with autism

Can we conclude that this sudden crash to ~750 in the Western exchanges was due to the news of Shrem's arrest?

Huobi was in the middle of a downtrend with occasional hiccups, but clearly it did not start that crash; and it reacted only slightly to it, presumably because of arbitrage trading.

It will be some time before the news of Shrem's arrest are translated and reported in Chinese media -- if they are at all.  Until this morning I had never heard of the guy, and presumably he and the Bitcoin Foundation are totally unnown in China. So perhaps the Chinese markets will just ignore the incident.

[seleme]

So it looks like I was wrong about the stabilization after all.

We're currently 3% below where we were before the news. Hardly destabilization so far.

I was being sarcastic. Yesterday the bulls were saying CCMF and I said we'd probably stabilize at 810 instead.

Mah, it's more a joke. CCMF after each 10$ up, and crash after each 10$ down. Bears are more serious though as they can't function without FUD spreading.

[Kerrai]

Can we conclude that this sudden crash to ~750 in the Western exchanges was due to the news of Shrem's arrest?

Huobi was in the middle of a downtrend with occasional hiccups, but clearly it did not start that crash; and it reacted only slightly to it, presumably because of arbitrage trading.

It will be some time before the news of Shrem's arrest are translated and reported in Chinese media -- if they are at all.  Until this morning I had never heard of the guy, and presumably he and the Bitcoin Foundation are totally unnown in China. So perhaps the Chinese markets will just ignore the incident.

They may ignore the news; they can't ignore the market movement.

[adamstgBit]

So it looks like I was wrong about the stabilization after all.

there is just way to much happening right now for stable prices

poeple are panic selling on news that will get old fast, mean while everyone and his mother is hodling fait waiting for "cheap coins".

stable bitcoins at 5-6 million a coin, until then we buy the dips and smoke cigars  

[Holliday]

Kinda funny to see all exchanges act so different. Stamp/btc-e dumping, hyubi not really giving a fuck, and Gox is just sitting near that 1k mark like a kid with autism

Can we conclude that this sudden crash to ~750 in the Western exchanges was due to the news of Shrem's arrest?

Huobi was in the middle of a downtrend with occasional hiccups, but clearly it did not start that crash; and it reacted only slightly to it, presumably because of arbitrage trading.

It will be some time before the news of Shrem's arrest are translated and reported in Chinese media -- if they are at all.  Until this morning I had never heard of the guy, and presumably he and the Bitcoin Foundation are totally unnown in China. So perhaps the Chinese markets will just ignore the incident.

Shrem or the Russian Central Bank? Probably both.

I doubt the Chinese will care.

[magicmexican]

Bears are certainly much more deluded. Every crash is "the end".

[Holliday]

Bears are certainly much more deluded. Every crash is "the end".

They don't really believe that. They are trying to frighten coins out of weak hands...

[MANofthePEOPLE]

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775  

If that would make you feel slightly better, I don't consider myself worst trader ever but I still do such stuff pretty regularly

haha I have an amazing track record though.. almost every time I sell in the dips I manage to do it at the lowest point. Should just sit on them but not as fun and expensive. Everyone knows it costs money to have a good time

[ShroomsKit]

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775  

Like 90% of the sheep that just panic sold. They will never learn.

[MonadTran]

But maybe they have that proof and are not stupid to do it without it. I don't know guy, so I certainly won't take his corner just like that.

Even if they have the proof, the charges boil down to him buying a piece of vegetation, and maybe trading with people who trade with people who sell pieces of vegetation. It's not a valid reason to put a person into a cage. He's not accused of murder, or theft, or rape. He's accused of trading with the wrong people. Meanwhile, some of the banks are known to have been involved in the same activities, at a larger scale, and all it ended up was a fine (they essentially took some of their bailout money back). The charges are both unjust in and of itself, and biased/disproportional, compared to other such cases.

[seleme]

it's not easy being the worst trader since the beginning of time.. panic sold at 761 and panic bought back at 775  

If that would make you feel slightly better, I don't consider myself worst trader ever but I still do such stuff pretty regularly

haha I have an amazing track record though.. almost every time I sell in the dips I manage to do it at the lowest point. Should just sit on them but not as fun and expensive. Everyone knows it costs money to have a good time

Try not selling all your coins at once, that's most common mistake.

If you sell small part only and price continue to go down you can sell more on the way down. If it goes up, you won't have too much to buy and lose.

Selling and buying all at once is never good thing.

[extee]

the ones that sold looked more like whales than sheeps.....and they are still selling....

[klee]

the ones that sold looked more like whales than sheeps.....and they are still selling....

hehe

[seleme]

the ones that sold looked more like whales than sheeps.....and they are still selling....

Whales sold at top, that's how they became whales