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

[CoinHeavy]

That sale on BTC-e for 102 was probably a manipulation to spike prices down and FUD.

Gives people a headline.
I.E.
https://twitter.com/Feathercoin/status/432854921788936192
Feathercoin, Twitter, "Bitcoin reaches a low of $102 on #BTCe"

[podyx]

BULLS WHERE ARE YOU

<-- here is a perma-bull, what u want?

[surfer43]

BULLS WHERE ARE YOU

price goes up:

"BEARS WHERE ARE YOU "

 

[surfer43]

BULLS WHERE ARE YOU

<-- here is a perma-bull, what u want?

he wants to troll you  with his perma-bear FUD 

[Mythul]

Who else nearly had a heart attack ?

[michaelGedi]

This could be the biggest dip on the pure fud that we had yet. Maybe it could be avoided if Gox worded it better, but who knows, maybe it was intentional?

Now , you're starting to say some interesting things.

Who could have wished for a crash , and who could
have profited from it the most , probably the ones who could create one and who are in so much shit to actually need a flash crash. gox?

I wondered the same thing..

makes you wonder about the walls at 650 and 600 on stamp that just sat there and happily got sold into...

[porcupine87]

It happened already. Just readed an German news, saying that Gox is saying that there is a bug in Bitcoin wich is known for years and that is the reason why gox is having problems  

confirmed:
"bug in Bitcoin System leads to crash"
http://deutsche-wirtschafts-nachrichten.de/2014/02/10/fehler-im-bitcoin-system-fuehrt-zum-crash/

[jmumich]

The proportions of the impact still feel very suspicious, Gox basically took some old and well known (to devs) things, and "turned" them into "news" about btc protocol. I dont want to believe that the whole crypto market is that retarded to panic so hard based on such "news"

There should be something more to it.

I think the impact is due to the damage to the perception of bitcoin in general.  Unfortunately Mt. Gox was still a major exchange, even after all their problems throughout 2013 and even before.  

Best case scenario, Mt. Gox is able to wind down in an orderly fashion, and people finally move to better exchanges (and we need better ones).

Worst case - this drags out, Mt. Gox keeps changing the story, and in the end lots of people lose a significant amount of money.  

Either way, bitcoin's reputation took a hit, and that is reflected in the price.  How much is not yet known, and that is why things will be volatile for a bit.

[maximum]

i made 6 btc today. i love bitcoin

[EuroTrash]

Damn I chickened out and pulled all my nice buy spreads this morning.

And I missed the manslaughter fest  
Guess I'll have to wait for the next dice roll this afternoon.

lol u think there will be more?

Look, here's how I think:

The fundamentals are good but the whole economy could be sustained with only 25 dollars a bitcoin so this high price is driven mostly by speculation. Not that I see anything bad in profiting from speculation, although the actors here are mostly nerds that are not able to manage a sudden increase of their wealth, and hence most of them are going to lose it gambling it away the same way they got it. (I include myself in this category)

So I think that all of these price swings are caused by the same old actors gambling each other's ass on the exchanges. Not enough new money coming in.

My friends who are geek enough to figure out how to buy bitcoins but yet not crazy enough to have jumped on the bandwagon last year or earlier - they all say "it is too expensive now, I'll buy some when it gets to [insert number between 100 and 300]".
The fact that we got to 1000$/BTC surely got their attention (and envy) - but yet it doesn't dawn on them that they could buy a tenth of a coin right now. Psychologically, to them, 700$ is just too expensive. And I can't blame them - they look at the 1D chart and they say "it's a bubble". I value their views because those make a sample of the people that are going to drive the next wave of price increases. It's up to them, not Wall Street. Wall Street does not give a f* about bitcoins, litecoins, dodgycoins or whatever rocks your boat. At least not yet. They will get in to make profit in dollars (and so do you, at the moment). So do resellers.

[Nemo1024]

Who else nearly had a heart attack ?

Reporting in with an almost one. Came back from lunch, refreshed BitcoinCharts, and.... well, let's say that all my buy orders got filled. I'm 100% BTC now with more fiat headed for the exchange.

[wachtwoord]

Damn I chickened out and pulled all my nice buy spreads this morning.

And I missed the manslaughter fest  
Guess I'll have to wait for the next dice roll this afternoon.

lol u think there will be more?

Look, here's how I think:

The fundamentals are good but the whole economy could be sustained with only 25 dollars a bitcoin so this high price is driven mostly by speculation. Not that I see anything bad in profiting from speculation, although the actors here are mostly nerds that are not able to manage a sudden increase of their wealth, and hence most of them are going to lose it gambling it away the same way they got it. (I include myself in this category)

So I think that all of these price swings are caused by the same old actors gambling each other's ass on the exchanges. Not enough new money coming in.

My friends who are geek enough to figure out how to buy bitcoins but yet not crazy enough to have jumped on the bandwagon last year or earlier - they all say "it is too expensive now, I'll buy some when it gets to [insert number between 100 and 300]".
The fact that we got to 1000$/BTC surely got their attention (and envy) - but yet it doesn't dawn on them that they could buy a tenth of a coin right now. Psychologically, to them, 700$ is just too expensive. And I can't blame them - they look at the 1D chart and they say "it's a bubble". I value their views because those make a sample of the people that are going to drive the next wave of price increases. It's up to them, not Wall Street. Wall Street does not give a f* about bitcoins, litecoins, dodgycoins or whatever rocks your boat. At least not yet. They will get in to make profit in dollars (and so do you, at the moment). So do resellers.

Show them how the 1 D chart looked like this summer. Same for the growth spurt before that.

You can't really blame them, but they are very very wrong.

[TERA]

I am again thinking of leaving the markets alltogether. I have never felt so much fear.  Even though I was 80% fiat I was sure the exchanges we're just going to run with the fiat. I do not want to be around when a serious protocol failure actually happens and everything comes tumbling down for real.

[seleme]

TERA, good luck, good riddance..

Some bids filled at 601$, not bad, not bad.

[creekbore]

Angry with Karpeles...blow off steam here.
New poll
https://bitcointalk.org/index.php?topic=458226.0
 

[Bagatell]

This could be the biggest dip on the pure fud that we had yet. Maybe it could be avoided if Gox worded it better, but who knows, maybe it was intentional?

Now , you're starting to say some interesting things.

Who could have wished for a crash , and who could
have profited from it the most , probably the ones who could create one and who are in so much shit to actually need a flash crash. gox?

I wondered the same thing..

and the timing on the press release and the dump was pretty tight IIRC.

[JakeGold]

This is absolutely fantastic. All the bitcoin believers get a great deal on coins, all the doubters learn a lesson in patience.

Win-Win  

[F-bernanke]

I am again thinking of leaving the markets alltogether. I have never felt so much fear.  Even though I was 80% fiat I was sure the exchanges we're just going to run with the fiat. I do not want to be around when a serious protocol failure actually happens and everything comes tumbling down for real.

Serious question, how long are you in this game/forum?

[Nemo1024]

I am again thinking of leaving the markets alltogether. I have never felt so much fear.  Even though I was 80% fiat I was sure the exchanges we're just going to run with the fiat. I do not want to be around when a serious protocol failure actually happens and everything comes tumbling down for real.

Is something wrong with me? Why do I feel no fear now, whereas I felt quite a lot of it during the ride from 200 to 1000, while holding for dear life?

[gizmoh]

I am again thinking of leaving the markets alltogether. I have never felt so much fear.  Even though I was 80% fiat I was sure the exchanges we're just going to run with the fiat. I do not want to be around when a serious protocol failure actually happens and everything comes tumbling down for real.

Same here im 80% fiat, 130 btc in limbo with Gox. They are Screaming: I can't send you btc, as there is a protocol flaw. They are just buying time here imo.
If Gox fails, those early adopters who trust(ed) Gox with thier fiat/btc and hold several hundreds/thousand of coins will hedge their losses,and price will take a harder plunge.