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

[thoughtfan]

The freedom to transmit value instantly across borders, peer to peer, independent of banks and governments?  Priceless. 

For all else, there's dogecoin.

+1

[HairyMaclairy]

So here we all are sitting around waiting for the Chinese to come back from holiday.  I've got a buy order on BSP that filled at 811 about 8 hours ago and so far the price has done exactly nothing.

[ShroomsKit]

So here we all are sitting around waiting for the Chinese to come back from holiday. 

It will result in the sheep panic selling as really anything does these days. Good news, bad news, it doesn't matter. Panic sell.
This will happen: the Chinese holiday is over! Omg sell!

[spooderman]

The freedom to transmit value instantly across borders, peer to peer, independent of banks and governments?  Priceless. 

For all else, there's dogecoin.

ok i'll bite. dogecoin does those things too....

[surfer43]

So here we all are sitting around waiting for the Chinese to come back from holiday. 

It will result in the sheep panic selling as really anything does these days. Good news, bad news, it doesn't matter. Panic sell.
This will happen: the Chinese holiday is over! Omg sell!

That's what I've been saying for weeks 

[JakeGold]

So true.

[surfer43]

So true.

Especially that Bitcoin is the Nation's most important financial institution

[billyjoeallen]

So here we all are sitting around waiting for the Chinese to come back from holiday. 

It will result in the sheep panic selling as really anything does these days. Good news, bad news, it doesn't matter. Panic sell.
This will happen: the Chinese holiday is over! Omg sell!

Good time to accumulate coins then. Don't worry, they'll be panic buying soon enough.

[spooderman]

So here we all are sitting around waiting for the Chinese to come back from holiday. 

It will result in the sheep panic selling as really anything does these days. Good news, bad news, it doesn't matter. Panic sell.
This will happen: the Chinese holiday is over! Omg sell!

Good time to accumulate coins then. Don't worry, they'll be panic buying soon enough.

can't wait

[surfer43]

So here we all are sitting around waiting for the Chinese to come back from holiday. 

It will result in the sheep panic selling as really anything does these days. Good news, bad news, it doesn't matter. Panic sell.
This will happen: the Chinese holiday is over! Omg sell!

Good time to accumulate coins then. Don't worry, they'll be panic buying soon enough.

You can only call it panic buying if they have believed the value will be much higher all along.
otherwise it is

[billyjoeallen]

So here we all are sitting around waiting for the Chinese to come back from holiday.  .

It will result in the sheep panic selling as really anything does these days. Good news, bad news, it doesn't matter. Panic sell.
This will happen: the Chinese holiday is over! Omg sell!

Good time to accumulate coins then. Don't worry, they'll be panic buying soon enough.

You can only call it panic buying if they have believed the value will be much higher all along.
otherwise it is

They are panicking that the herd is leaving them behind. Doesn't matter where the herd is going. Safety in numbers (so they think)

[JorgeStolfi]

In the context of stocks, it does not seem to be useful to think of "the Apple stock market" or " the Google stock market", except when "market" is short for "supply and demand".

It seems more useful to think that there is just one stock market, where the stocks of all companies are traded together.  That's because traders can quickly sell one stock and buy another as they see fit.  New investment money that comes into one stock promptly "diffuses" to other stocks.  Thanks to arbitrage traders, one can even think of all stock exchanges of the world as a single market.

Methinks that the same is happening in the world of crypto-currency, with regard to both the exchanges proper and the support network.

The most reputable (or least disreputable?) crypto exchanges seem to be well connected by arbitrage, so that prices tend to rise and fall together.  Several already trade two or more crypto-coins, against each other and against national currencies.  Many traders already own and play with several types of crypto-coins at the same time.  So perhaps we should start thinking of "the crypto-coin market" instead of "the Bitcoin market", "the Litecoin market", etc.

As for the support network, it seems that many miners will direct their efforts to whatever crypto gives the best return at the moment.   So, even though the blockchains are independent, we should perhaps think of just one Crypto-Coin Network, that supports all cryptos according to usual cost/profit principles.

Does this make sense? 

[surfer43]

In the context of stocks, it does not seem to be useful to think of "the Apple stock market" or " the Google stock market", except when "market" is short for "supply and demand".

It seems more useful to think that there is just one stock market, where the stocks of all companies are traded together.  That's because traders can quickly sell one stock and buy another as they see fit.  New investment money that comes into one stock promptly "diffuses" to other stocks.  Thanks to arbitrage traders, one can even think of all stock exchanges of the world as a single market.

Methinks that the same is happening in the world of crypto-currency, with regard to both the exchanges proper and the support network.

The most reputable (or least disreputable?) crypto exchanges seem to be well connected by arbitrage, so that prices tend to rise and fall together.  Several already trade two or more crypto-coins, against each other and against national currencies.  Many traders already own and play with several types of crypto-coins at the same time.  So perhaps we should start thinking of "the crypto-coin market" instead of "the Bitcoin market", "the Litecoin market", etc.

As for the support network, it seems that many miners will direct their efforts to whatever crypto gives the best return at the moment.   So, even though the blockchains are independent, we should perhaps think of just one Crypto-Coin Network, that supports all cryptos according to usual cost/profit principles.

Does this make sense? 

Complete sense 
They all depend on each other

[MAbtc]

Looks to be triggering.

[MANofthePEOPLE]

looks like China woke up on the grumpy side today

[TERA]

On btce, there were a bunch of 50 and 250btc bids totaling 1000btc at $804, and then they were all just pulled.

Only on btce do I see so many fake walls moving around and traders changing their orders every 3 seconds. Nowhere else (except maybe Huobi where the entire exchange is fake in the first place).

[billyjoeallen]

In the context of stocks, it does not seem to be useful to think of "the Apple stock market" or " the Google stock market", except when "market" is short for "supply and demand".

It seems more useful to think that there is just one stock market, where the stocks of all companies are traded together.  That's because traders can quickly sell one stock and buy another as they see fit.  New investment money that comes into one stock promptly "diffuses" to other stocks.  Thanks to arbitrage traders, one can even think of all stock exchanges of the world as a single market.

Methinks that the same is happening in the world of crypto-currency, with regard to both the exchanges proper and the support network.

The most reputable (or least disreputable?) crypto exchanges seem to be well connected by arbitrage, so that prices tend to rise and fall together.  Several already trade two or more crypto-coins, against each other and against national currencies.  Many traders already own and play with several types of crypto-coins at the same time.  So perhaps we should start thinking of "the crypto-coin market" instead of "the Bitcoin market", "the Litecoin market", etc.

As for the support network, it seems that many miners will direct their efforts to whatever crypto gives the best return at the moment.   So, even though the blockchains are independent, we should perhaps think of just one Crypto-Coin Network, that supports all cryptos according to usual cost/profit principles.

Does this make sense? 

Sure. We could easily create indexes similar to the DJIA or the S&P 500 which would gauge overall movements and be weighted by market cap. Kinda surprised someone hasn't done this yet. Whoever is first gets to name the index after himself!

[ChartBuddy]

Explanation

[byronbb]

Sure. We could easily create indexes similar to the DJIA or the S&P 500 which would gauge overall movements and be weighted by market cap. Kinda surprised someone hasn't done this yet. Whoever is first gets to name the index after himself!

Easily? How?

[billyjoeallen]

Sure. We could easily create indexes similar to the DJIA or the S&P 500 which would gauge overall movements and be weighted by market cap. Kinda surprised someone hasn't done this yet. Whoever is first gets to name the index after himself!

Easily? How?

What to do is easy. How to do it is somebody else's problem. I don't care enough about alts to make the effort.