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

[jayspin]

Can I get a little bounce please? Coins stuck in transit. No block in last 30 minutes. Damn you, bitcoin!

sucks when you're suckt. Bank transfer is suckt for me. Hurry up earth rotation pls kthxbai

[Dragonkiller]

Can I get a little bounce please? Coins stuck in transit. No block in last 30 minutes. Damn you, bitcoin!

bounced it for you 

[MAbtc]

Can I get a little bounce please? Coins stuck in transit. No block in last 30 minutes. Damn you, bitcoin!

bounced it for you 

Sweet, thanks!

Can I get a little bounce please? Coins stuck in transit. No block in last 30 minutes. Damn you, bitcoin!

so you are one of the people selling into this
fiat is ready

Just swing trading a handful of coins back and forth. Vast majority is fiat, in and out of short position.

[seleme]

Looks like I'll never see my 11 BTC from Gox..

[KFR]

[adamstgBit]

[JorgeStolfi]

heh, check virtex orderbook for the lulz

Buying BTC
Created    Amount    Price    Value
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    849.10002    42.46 CAD
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    849.00002    42.45 CAD
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    848.90002    42.45 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.80002    42.44 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.70002    42.44 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.60002    42.43 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.50002    42.43 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.40002    42.42 CAD
Feb. 6, 2014, 12:15 p.m.    0.0500/0.0500    848.30002    42.42 CAD
Feb. 6, 2014, 12:15 p.m.    0.0500/0.0500    848.20002    42.41 CAD
Feb. 6, 2014, 12:16 p.m.    0.0500/0.0500    848.10002    42.41 CAD
Feb. 6, 2014, 12:16 p.m.    0.0500/0.0500    848.00002    42.40 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.90002    42.40 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.80002    42.39 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.70002    42.39 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.60002    42.38 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.50002    42.38 CAD
Jan. 31, 2014, 8:38 a.m.    2.5726/2.5726    847.50000    2180.28 CAD
Feb. 6, 2014, 12:18 p.m.    0.0500/0.0500    847.40002    42.37 CAD
Feb. 6, 2014, 12:18 p.m.    0.0500/0.0500    847.30002    42.37 CAD

that my friends is the Canadian equivalent of Willy... hahahahaaa

This slicing of orders is common. Here is my understanding of why people do that:

If you post a single bid for 21 BTC @ 800, some other jerk may post his bid for 21 BTC @ 800.01, then you will not get anything until hs bid is filled.

If you spread your bid into 21 bids of 1 BTC @ 790, 791, 792, ..., 800, 801, ..., 809, 810, you will ultimately pay the same amount, but now the jerk cannot
get ahead of you by bidding just one penny more.

If he posts 21 @ 810.01 he will lose a lot of money, if he post 21 @ 800.01 you will gobble up 10 BTC before he gets anything,
if he splits his order too at 790.01, 791.01, etc. you both will get served together.

So, splitting seems to be a better strategy than lumping, very roughly speaking.

Does this make sense?

[billyjoeallen]

Some of you may have noticed that Thursday Feb/06 was a bit busier than the last few days. 

Note that the total trade volume outside China surpassed that in China.  When was the last time that happened?

Note also that MtGOX was again the busiest of the non-Chinese exchanges.

Yes, I'd like to thank all our Chinese friends for giving us our coins back.  

[simonk83]

Cheap coins?  I accept.

[Praeconium]

i just have to say that I got failed transactions back from MtGox (since I was writing how I cant get it out, and they were stuck)

[glendall]

heh, check virtex orderbook for the lulz

Buying BTC
Created    Amount    Price    Value
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    849.10002    42.46 CAD
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    849.00002    42.45 CAD
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    848.90002    42.45 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.80002    42.44 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.70002    42.44 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.60002    42.43 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.50002    42.43 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.40002    42.42 CAD
Feb. 6, 2014, 12:15 p.m.    0.0500/0.0500    848.30002    42.42 CAD
Feb. 6, 2014, 12:15 p.m.    0.0500/0.0500    848.20002    42.41 CAD
Feb. 6, 2014, 12:16 p.m.    0.0500/0.0500    848.10002    42.41 CAD
Feb. 6, 2014, 12:16 p.m.    0.0500/0.0500    848.00002    42.40 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.90002    42.40 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.80002    42.39 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.70002    42.39 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.60002    42.38 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.50002    42.38 CAD
Jan. 31, 2014, 8:38 a.m.    2.5726/2.5726    847.50000    2180.28 CAD
Feb. 6, 2014, 12:18 p.m.    0.0500/0.0500    847.40002    42.37 CAD
Feb. 6, 2014, 12:18 p.m.    0.0500/0.0500    847.30002    42.37 CAD

that my friends is the Canadian equivalent of Willy... hahahahaaa

This slicing of orders is common. Here is my understanding of why people do that:

If you post a single bid for 21 BTC @ 800, some other jerk may post his bid for 21 BTC @ 800.01, then you will not get anything until hs bid is filled.

If you spread your bid into 21 bids of 1 BTC @ 790, 791, 792, ..., 800, 801, ..., 809, 810, you will ultimately pay the same amount, but now the jerk cannot
get ahead of you by bidding just one penny more.

If he posts 21 @ 810.01 he will lose a lot of money, if he post 21 @ 800.01 you will gobble up 10 BTC before he gets anything,
if he splits his order too at 790.01, 791.01, etc. you both will get served together.

So, splitting seems to be a better strategy than lumping, very roughly speaking.

Does this make sense?

Thanks. Yes it does make sense, and never thought of that before.

[spooderman]

bears are so lame.

[seleme]

i just have to say that I got failed transactions back from MtGox (since I was writing how I cant get it out, and they were stuck)

I got mine back, than tried to do it in 3 smaller ones and all went to Limbo City again 

[windjc]

So, I have been busy with several other things the last few days. Last time I checked Gox was having technical orders that was causing people to not be able to get out bitcoin.

But that doesn't explain why the market is crashing on Gox.  I understand that sticky fiat meant inflated prices, but why the hell are people transferring back to fiat? Have fiat withdrawals opened up?

[Dragonkiller]

So, I have been busy with several other things the last few days. Last time I checked Gox was having technical orders that was causing people to not be able to get out bitcoin.

But that doesn't explain why the market is crashing on Gox.  I understand that sticky fiat meant inflated prices, but why the hell are people transferring back to fiat? Have fiat withdrawals opened up?

No.

If both fiat withdrawals and BTC withdrawals are blocked, there is no reason for Gox to be higher than the other exchanges. Both Gox fiat and Gox BTC are equally useless.

[JimboToronto]

Wasn't that a great crash? Why, it surely marked the beginning of the end for Bitcoin as we know it.

Never before has anything crashed that far, that fast. It was dizzying, the intensity of the capitulation all the way down to the mid-700s.

Those people who sold in the 700s sure know how to work the market. Yep.

[adamstgBit]

heh, check virtex orderbook for the lulz

Buying BTC
Created    Amount    Price    Value
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    849.10002    42.46 CAD
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    849.00002    42.45 CAD
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    848.90002    42.45 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.80002    42.44 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.70002    42.44 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.60002    42.43 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.50002    42.43 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.40002    42.42 CAD
Feb. 6, 2014, 12:15 p.m.    0.0500/0.0500    848.30002    42.42 CAD
Feb. 6, 2014, 12:15 p.m.    0.0500/0.0500    848.20002    42.41 CAD
Feb. 6, 2014, 12:16 p.m.    0.0500/0.0500    848.10002    42.41 CAD
Feb. 6, 2014, 12:16 p.m.    0.0500/0.0500    848.00002    42.40 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.90002    42.40 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.80002    42.39 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.70002    42.39 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.60002    42.38 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.50002    42.38 CAD
Jan. 31, 2014, 8:38 a.m.    2.5726/2.5726    847.50000    2180.28 CAD
Feb. 6, 2014, 12:18 p.m.    0.0500/0.0500    847.40002    42.37 CAD
Feb. 6, 2014, 12:18 p.m.    0.0500/0.0500    847.30002    42.37 CAD

that my friends is the Canadian equivalent of Willy... hahahahaaa

This slicing of orders is common. Here is my understanding of why people do that:

If you post a single bid for 21 BTC @ 800, some other jerk may post his bid for 21 BTC @ 800.01, then you will not get anything until hs bid is filled.

If you spread your bid into 21 bids of 1 BTC @ 790, 791, 792, ..., 800, 801, ..., 809, 810, you will ultimately pay the same amount, but now the jerk cannot
get ahead of you by bidding just one penny more.

If he posts 21 @ 810.01 he will lose a lot of money, if he post 21 @ 800.01 you will gobble up 10 BTC before he gets anything,
if he splits his order too at 790.01, 791.01, etc. you both will get served together.

So, splitting seems to be a better strategy than lumping, very roughly speaking.

Does this make sense?

Thanks. Yes it does make sense, and never thought of that before.

i place tiny orders like that too.

my idea is to provide support or resistance and when they fill i have plenty of ammo left to place more support or resistance.
you don't want to convince yourself that its going  up or down and blow your load all at once only to see the market move 5% higher or lower, and feel sad for missing an opportunity  
plus this way I get to place orders all day long, and thats tons of fun.

[shmadz]

heh, check virtex orderbook for the lulz

Buying BTC
Created    Amount    Price    Value
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    849.10002    42.46 CAD
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    849.00002    42.45 CAD
Feb. 6, 2014, 12:13 p.m.    0.0500/0.0500    848.90002    42.45 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.80002    42.44 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.70002    42.44 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.60002    42.43 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.50002    42.43 CAD
Feb. 6, 2014, 12:14 p.m.    0.0500/0.0500    848.40002    42.42 CAD
Feb. 6, 2014, 12:15 p.m.    0.0500/0.0500    848.30002    42.42 CAD
Feb. 6, 2014, 12:15 p.m.    0.0500/0.0500    848.20002    42.41 CAD
Feb. 6, 2014, 12:16 p.m.    0.0500/0.0500    848.10002    42.41 CAD
Feb. 6, 2014, 12:16 p.m.    0.0500/0.0500    848.00002    42.40 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.90002    42.40 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.80002    42.39 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.70002    42.39 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.60002    42.38 CAD
Feb. 6, 2014, 12:17 p.m.    0.0500/0.0500    847.50002    42.38 CAD
Jan. 31, 2014, 8:38 a.m.    2.5726/2.5726    847.50000    2180.28 CAD
Feb. 6, 2014, 12:18 p.m.    0.0500/0.0500    847.40002    42.37 CAD
Feb. 6, 2014, 12:18 p.m.    0.0500/0.0500    847.30002    42.37 CAD

that my friends is the Canadian equivalent of Willy... hahahahaaa

This slicing of orders is common. Here is my understanding of why people do that:

If you post a single bid for 21 BTC @ 800, some other jerk may post his bid for 21 BTC @ 800.01, then you will not get anything until hs bid is filled.

If you spread your bid into 21 bids of 1 BTC @ 790, 791, 792, ..., 800, 801, ..., 809, 810, you will ultimately pay the same amount, but now the jerk cannot
get ahead of you by bidding just one penny more.

If he posts 21 @ 810.01 he will lose a lot of money, if he post 21 @ 800.01 you will gobble up 10 BTC before he gets anything,
if he splits his order too at 790.01, 791.01, etc. you both will get served together.

So, splitting seems to be a better strategy than lumping, very roughly speaking.

Does this make sense?

Thank you. That makes perfect sense.

[adamstgBit]

737! 732 

this is the end of bitcoin, i can feel it! '

[keithers]

big sell offs going on at bitstamp right now.   I just bought some more BTC, but I pulled the trigger too soon, and it is still dropping with more and more sell offs..