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

[Holliday]

There is one thing keeping the Bitcoin price up at the moment... Mt Gox. Without it we would be much lower.

If MtGox was always a fully functional exchange from the start, the exchange rate would be much higher.

Doubtful.

You're right of course. Hacking, fake flash crashes, lost funds, seizures, inability to withdraw fiat, inability to withdraw bitcoins, a poor trading engine, general incompetence and poor customer service from what was the first and largest Bitcoin exchange has done wonders for helping spread general confidence in Bitcoin.

[JorgeStolfi]

Can somebody research how many coins are sitting on those exchangers's order book?
I can't find a way to view the entire orders for huobi or okcoin

Well, considering the amount of trade they have, their order books must be huge, and must change very fast.

Since there are many sites (like bitcoinwisdom) that request that data every few seconds, their decision to truncate
the list is understndable.

EDIT: Perhaps they can be convinced to provide a coarse sampling of the full volume/price curve in real-time,
for the chart sites, and a full snapshot of the whole book every hour or so, for statisticians and such.

[TERA]

The order book on Huobi flows like water. It is such a game.

[ampere9765]

There is one thing keeping the Bitcoin price up at the moment... Mt Gox. Without it we would be much lower.

If MtGox was always a fully functional exchange from the start, the exchange rate would be much higher.

yeah, like that was ever gonna happen with bitcoins worth dick and no venture interest in it. of course a magic the gathering exchange would be the natural choice.

[niothor]

Can somebody research how many coins are sitting on those exchangers's order book?
I can't find a way to view the entire orders for huobi or okcoin

Well, considering the amount of trade they have, their order books must be huge, and must change very fast.

Since there are many sites (like bitcoinwisdom) that request that data every few seconds, their decision to truncate
the list is understndable.

Well , I doubt it.
I never believed china numbers and until now with every moment that passes it seems that I wasn't wrong.
Okcoin has been caught twice faking numbers so it's huobi next.

I remember too well when btcchina was claiming 4 times the volume with 1/4 of the orderbook gox had.

[adamstgBit]

There is one thing keeping the Bitcoin price up at the moment... Mt Gox. Without it we would be much lower.

If MtGox was always a fully functional exchange from the start, the exchange rate would be much higher.

Doubtful.

You're right of course. Hacking, fake flash crashes, lost funds, seizures, inability to withdraw fiat, inability to withdraw bitcoins, a poor trading engine, general incompetence and poor customer service from what was the first and largest Bitcoin exchange has done wonders for helping spread general confidence in Bitcoin.

in time exchanges will establish reputations for security, functionality, and customer satisfaction, the lesser entities will fade away. this kind of confidence building takes a lot of time, not months but years.... its happening, if you've been watching you have a pretty good idea, of what exchanges are well kept.

[SilverandBitcoins]

I miss seeing pictures of trains taking off.

[ampere9765]

I miss seeing pictures of trains taking off.

just wait for the next $10 jump in price. you will see many.

[ampere9765]

near 500 bid wall in 4860s on huobi....people market buying....

and pulled. 

[PoolMinor]

Sorry for repost.....

[shmadz]

LULZ EDIT!!!1 this was what I meant to qutoe.

near 500 bid wall in 4860s on huobi....people market buying....

and pulled. 

30B ask wall at 890 on CaVirtex!!!1

Jan. 30, 2014, 3:24 p.m.    30.0000/30.0000    889.99998    26700.00 CAD

That's massive for our little exchange,

*edit* cool! somebody just took a bite!

Jan. 30, 2014, 3:24 p.m.    29.8167/30.0000    889.99998    26536.86 CAD

[BitcoinAshley]

What the fuck? Someone pinch me:

http://www.ibtimes.co.uk/raining-catcoins-dogecoins-opray-winfrey-reality-show-backs-animal-cryptocurrencies-1434629

Two meme-based altcoins featured on the Oprah Winfrey Network before Bitcoin?

This article is SO WEIRD. Especially the thing about the shelter, and the schoolkids being taught about cryptocurrencies........

[niothor]

What the fuck? Someone pinch me:

http://www.ibtimes.co.uk/raining-catcoins-dogecoins-opray-winfrey-reality-show-backs-animal-cryptocurrencies-1434629

Two meme-based altcoins featured on the Oprah Winfrey Network before Bitcoin?

This article is SO WEIRD. Especially the thing about the shelter, and the schoolkids being taught about cryptocurrencies........

Please don't bring the D-thing again in this thread , last time it was a disaster

[mellowyellow]

Can somebody research how many coins are sitting on those exchangers's order book?
I can't find a way to view the entire orders for huobi or okcoin

Well, considering the amount of trade they have, their order books must be huge, and must change very fast.

Since there are many sites (like bitcoinwisdom) that request that data every few seconds, their decision to truncate
the list is understndable.

Well , I doubt it.
I never believed china numbers and until now with every moment that passes it seems that I wasn't wrong.
Okcoin has been caught twice faking numbers so it's huobi next.

I remember too well when btcchina was claiming 4 times the volume with 1/4 of the orderbook gox had.

It's very strange OKcoin seems to have steady trades throughout the day, but Huobi definitely slows down during Chinese sleeping hours.

[adamstgBit]

There is one thing keeping the Bitcoin price up at the moment... Mt Gox. Without it we would be much lower.

If MtGox was always a fully functional exchange from the start, the exchange rate would be much higher.

Doubtful.

You're right of course. Hacking, fake flash crashes, lost funds, seizures, inability to withdraw fiat, inability to withdraw bitcoins, a poor trading engine, general incompetence and poor customer service from what was the first and largest Bitcoin exchange has done wonders for helping spread general confidence in Bitcoin.

in time exchanges will establish reputations for security, functionality, and customer satisfaction, the lesser entities will fade away. this kind of confidence building takes a lot of time, not months but years.... its happening, if you've been watching you have a pretty good idea, of what exchanges are well kept.

30B ask wall at 890 on CaVirtex!!!1

Jan. 30, 2014, 3:24 p.m.    30.0000/30.0000    889.99998    26700.00 CAD

That's massive for our little exchange,

there was a 300 BTC wall at 875 the other day.

I know it was partially eaten, i have a feeling it got pulled and the guy figured it was smarter to split up the order

[Holliday]

What the fuck? Someone pinch me:

http://www.ibtimes.co.uk/raining-catcoins-dogecoins-opray-winfrey-reality-show-backs-animal-cryptocurrencies-1434629

Two meme-based altcoins featured on the Oprah Winfrey Network before Bitcoin?

This article is SO WEIRD. Especially the thing about the shelter, and the schoolkids being taught about cryptocurrencies........

Bwahahahahahaha.

[adamstgBit]

What the fuck? Someone pinch me:

http://www.ibtimes.co.uk/raining-catcoins-dogecoins-opray-winfrey-reality-show-backs-animal-cryptocurrencies-1434629

Two meme-based altcoins featured on the Oprah Winfrey Network before Bitcoin?

This article is SO WEIRD. Especially the thing about the shelter, and the schoolkids being taught about cryptocurrencies........

Bwahahahahahaha.

wtf, i give up,

catcoins are specially designed for cat lovers, therefore all cat lovers will save catcoins for their cat related expenses. if you have cat related expenses, consider buying some catcoin. if you have dog related expenses buy dogecoin.

its that simple poeple!

[seleme]

There is one thing keeping the Bitcoin price up at the moment... Mt Gox. Without it we would be much lower. It provides the psychological ammunition for maintaining above $700 level. All other charts are showing a steady downtrend except Gox.

I agree that there is only one thing that holds Bitcoin price - people are still not sure what would happen with China.

Without that you'd spend your fiat on ATH priced Bitcoins waiting for that downtrend to materialize

[shmadz]

<snip edit to remove mis-quote>

30B ask wall at 890 on CaVirtex!!!1

Jan. 30, 2014, 3:24 p.m.    30.0000/30.0000    889.99998    26700.00 CAD

That's massive for our little exchange,

there was a 300 BTC wall at 875 the other day.

I know it was partially eaten, i have a feeling it got pulled and the guy figured it was smarter to split up the order

Interesting. So is it the same guy you think? maybe someone like davincij15 cashing out? (*never mind, I guess he already moved to Chile*)

or is it just all the ATM's cashing out? http://www.huffingtonpost.ca/2014/01/26/bitcoin-atm-canada_n_4661974.html

and also small local bitcoin stores cropping up all over. http://bitcoinbrains.com/  http://www.bitcoiniacs.com/

After watching those NY hearings, I'm hoping that Canada will be smart and take a hands-off, wait and see approach to bitcoin.

[JorgeStolfi]

I never believed china numbers and until now with every moment that passes it seems that I wasn't wrong.
Okcoin has been caught twice faking numbers so it's huobi next.
II remember too well when btcchina was claiming 4 times the volume with 1/4 of the orderbook gox had.

For my part, so far I have seen convincing evidence of fake trade at Mt.GOX, and now at BTC-China.

The first time I paid attention to Bitcoins was when Rick Falkvinge (founder of the first Pirate Party) tweeted a glowing endorsement, announcing that he was investing all his savings into Bitcoins.  And the first time I heard abot Mt.GOX was around Dec/01, when Rick denounced them for replaying the same transactions over and over while the price was actually falling through the floor. (If it was a bug, it was a very convenient one...)

People have claimed that most of Huobi's volume is fake, but I am not convinced yet. Note that a transaction, whether by hand or by robot, is not fake if it entails an exchange of money and bitcoins between two competing traders.

Huobi has lots of robot trade and thinly sliced orders, but I have yet to see convincing evidence of fake transactions.  For one thing, their volume is nearly zero after midnight, lower at holidays, etc. (Mt.GOX's "ping-pong" robot, in contrast, ran continuously for days at a steady rate, stopping and starting abruptly.)

(BTW, Rick later retracted his endorsement of Bitcoin, after he realized that transactions are not at all anonymous and untraceable, as bitcoiners used to claim.)