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Question: Jan. 17 Closing Price:
$0 - 3 (2.7%)
<$6500 - 5 (4.5%)
$6,500-$7,000 - 6 (5.4%)
$7,000-$7,500 - 8 (7.2%)
$7,500-$8,000 - 16 (14.4%)
$8,000-$8,500 - 25 (22.5%)
$8,500-$9,000 - 10 (9%)
$9,000-$9,500 - 15 (13.5%)
>$9,500 - 23 (20.7%)
Total Voters: 111

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21494864 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (138 posts by 32 users deleted.)
pjviitas
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February 10, 2014, 02:11:31 AM
 #85221

Has anyone thought that maybe the high cost of Bitcoin at MtGOX was simply an indication of the true value of Bitcoin?

Is it possible that the price of Bitcoin is being artificially depressed to allow some of the bigger players who came into the market late a chance to get some cheap coin?

Kind of like the very very very very last train to a place that no one will be able to get on again for a long while?
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February 10, 2014, 02:13:57 AM
 #85222

Wall down! i repeat wall down!

BUY ALL THE NON-GOXED BTC!


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February 10, 2014, 02:15:13 AM
 #85223

If the price at Coinbase is higher than that of other exchanges, people should flock there to sell, but no one would want to buy from them at those prices. 

So Coinbase must be collecting lots of bitcoins and depleting their dollar reserves. And they cannot sell those bitcoins now without a substantial loss. This is what MtGOX was doing until a couple of days ago. (Perhaps Coinbese is trying to fill the market niche that MtGOX abandoned?  Grin)

Perhaps they believe that the prices will rebound to more than 730 soon? 

Is there a general shortage of money in the other exchanges, that might be cured when the banks open today?

What is preventing arbitrage from working (buy cheap coins at other exchanges, sell them to Coinbase for 30%+ profit)?  We knew why in the case of MtGOX, but that explanation does not apply to Coinbase, does it?

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February 10, 2014, 02:15:25 AM
 #85224

That c.600 coin ask wall at $699 on Stamp was eaten in about 5 mins by several >100 buys.  700 now broken.
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February 10, 2014, 02:16:44 AM
 #85225

Everyone is watching Gox so closely, I suspect someone is trading with themselves on Gox to swing the other exchanges in their favor, where their fiat and BTC are actually worth something. Watching the walls on Gox, the bid side will rise at the exact moment the ask side falls, some trading happens, then it reverses. All the bid/asks in a $100 range shift back and forth. Seconds later, Stamp and BFX follow.  Also, someone puts a big wall at say 700 on Stamp, then Gox asks will fall and price will rise until the wall at Stamp gets eaten. Then seconds later the ask wall on Gox comes back keeping the price from going further up. Rinse and repeat. This can't be someone taking advantage of bots can it? Who would keep that much ammo (+500btc) for their bots?
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February 10, 2014, 02:19:49 AM
 #85226

Has anyone thought that maybe the high cost of Bitcoin at MtGOX was simply an indication of the true value of Bitcoin?

Is it possible that the price of Bitcoin is being artificially depressed to allow some of the bigger players who came into the market late a chance to get some cheap coin?

Kind of like the very very very very last train to a place that no one will be able to get on again for a long while?

na mtgox was higher because it was hard to get $ out...

but yes, many are using this bear market to accumulate cheap coins, they will let it fall as low as they can and let ask depth build as much as possible.

bid depth is purposefully underplayed, and price is allowed to slide in order to make hodler capitulate.
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February 10, 2014, 02:20:45 AM
 #85227

If we keep this bottom for two days more I'm gonna start buying like there is no tomorrow.
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February 10, 2014, 02:24:07 AM
 #85228

If the price at Coinbase is higher than that of other exchanges, people should flock there to sell, but no one would want to buy from them at those prices. 

So Coinbase must be collecting lots of bitcoins and depleting their dollar reserves. And they cannot sell those bitcoins now without a substantial loss. This is what MtGOX was doing until a couple of days ago. (Perhaps Coinbese is trying to fill the market niche that MtGOX abandoned?  Grin)

Perhaps they believe that the prices will rebound to more than 730 soon? 

Is there a general shortage of money in the other exchanges, that might be cured when the banks open today?

What is preventing arbitrage from working (buy cheap coins at other exchanges, sell them to Coinbase for 30%+ profit)?  We knew why in the case of MtGOX, but that explanation does not apply to Coinbase, does it?



coin base is 4.3% higher
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February 10, 2014, 02:24:35 AM
 #85229

Would be nice if coinbase stopped gouging us.
adamstgBit
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February 10, 2014, 02:25:19 AM
 #85230

If we keep this bottom for two days more I'm gonna start buying like there is no tomorrow.

if they sell into my walls, i will place more!  Wink
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February 10, 2014, 02:29:28 AM
 #85231

If the price at Coinbase is higher than that of other exchanges, people should flock there to sell, but no one would want to buy from them at those prices. 

So Coinbase must be collecting lots of bitcoins and depleting their dollar reserves. And they cannot sell those bitcoins now without a substantial loss. This is what MtGOX was doing until a couple of days ago. (Perhaps Coinbese is trying to fill the market niche that MtGOX abandoned?  Grin)

Perhaps they believe that the prices will rebound to more than 730 soon? 

Is there a general shortage of money in the other exchanges, that might be cured when the banks open today?

What is preventing arbitrage from working (buy cheap coins at other exchanges, sell them to Coinbase for 30%+ profit)?  We knew why in the case of MtGOX, but that explanation does not apply to Coinbase, does it?



I assume they gradually raised their quoted prices (importantly both buy and sell prices) until the sell demand started to overtake the buy demand.  Combined with a spread of almost $20 between buy and sell prices, they should still be making plenty of money without exposing themselves to very much risk.

There is nothing preventing arbitrage from happening.  In fact, it almost certainly is happening right now.  It will only last until they wire more money in tomorrow and the price works its way back to the normal market price.  It does hint toward significant US buying demand right now, which suggests an impending rise in the morning.
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February 10, 2014, 02:36:40 AM
 #85232

Essentially, Coinbase is currently operating like a sportsbook does; trying to get equal action on both sides and collecting their vig.
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February 10, 2014, 02:37:58 AM
 #85233

coin base is 4.3% higher

Oops, thanks. I should have written "30 US$" (over Bitstamp) rather than "30%".
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February 10, 2014, 02:46:55 AM
 #85234

Really looking forward to picking up some cheap coins soon. 
dgarcia
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February 10, 2014, 02:53:36 AM
 #85235

Has anyone thought that maybe the high cost of Bitcoin at MtGOX was simply an indication of the true value of Bitcoin?

Is it possible that the price of Bitcoin is being artificially depressed to allow some of the bigger players who came into the market late a chance to get some cheap coin?

Kind of like the very very very very last train to a place that no one will be able to get on again for a long while?

Everybody at least needs one crazy friend. You are my crazy friend.

http://z0r.de/631
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February 10, 2014, 02:55:51 AM
 #85236

If the price at Coinbase is higher than that of other exchanges, people should flock there to sell, but no one would want to buy from them at those prices. 

So Coinbase must be collecting lots of bitcoins and depleting their dollar reserves. And they cannot sell those bitcoins now without a substantial loss. This is what MtGOX was doing until a couple of days ago. (Perhaps Coinbese is trying to fill the market niche that MtGOX abandoned?  Grin)

Perhaps they believe that the prices will rebound to more than 730 soon? 

Is there a general shortage of money in the other exchanges, that might be cured when the banks open today?

What is preventing arbitrage from working (buy cheap coins at other exchanges, sell them to Coinbase for 30%+ profit)?  We knew why in the case of MtGOX, but that explanation does not apply to Coinbase, does it?


They also could just be completing buy and sell orders in house with coinbase users buy and sell orders
pjviitas
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February 10, 2014, 03:00:04 AM
 #85237

Has anyone thought that maybe the high cost of Bitcoin at MtGOX was simply an indication of the true value of Bitcoin?

Is it possible that the price of Bitcoin is being artificially depressed to allow some of the bigger players who came into the market late a chance to get some cheap coin?

Kind of like the very very very very last train to a place that no one will be able to get on again for a long while?

Everybody at least needs one crazy friend. You are my crazy friend.

http://z0r.de/631

lol...I like you...your funny.
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February 10, 2014, 03:02:16 AM
 #85238


Explanation
hyphymikey
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February 10, 2014, 03:25:03 AM
 #85239

Should we start calling it Ft. Gox now that it is a fractional reserve bitcoin exchange that doesn't have enough funds to cover everyone?
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February 10, 2014, 03:26:28 AM
 #85240

btc-e   717
stamps 695


interesting...
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