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

[adamstgBit]

Man everyone who was saying how bored they were getting with the stability of bitcoin over the last month really jinxed us!   The volatility came back, just in the wrong direction.   I just want us to get back to the $800 or so range...I feel like that is a fair price for the overall adoption that bitcoin has currently..

What I don't want to happen is for it to keep shooting straight down, and then straight up to point where major companies start second guessing accepting bitcoins (or worse yet decide to stop accepting btc if they have already done so).

if they use BitPay i don't see a reason why they would care about market volatility, it simply does not affect them...

[empowering]

Ah, I had forgotten about that thing. Did a quick search and found this:

Ripple is what happens when a turd drops in a toilet.

I think that image ^ explains what ripple really is.  

And the great Satoshi did look down upon the world and was sad, for its economics did vex the people of the world, causing misery and unhappiness amongst them. So he gathered about him two buckets of polished obsidian and reached into the world, lifting from it its economy in his two great hands. Artfully, he began to disassemble that economy, placing the good bits in the bucket on his right and the rest in the bucket on his left. For many days and many nights (that would be reckoned as aeons to mortal man), did he toil at his task until his hands were empty and the buckets were full. Then he lifted the bucket at his right and presented it to the world saying in a voice that echoed to the highest mountaintop and lowest valley, to the trees and rivers and deepest caverns, "Behold, world and tremble for I give you Bitcoin". The other bucket he put outside the backdoor next to the bins where a passing simpleton noticed it and said "Will you be my friend? I can call you Ripple".

And that is how it was.

 

Brilliant : )

[dgarcia]

No problem!  My pockets are even more full now than when I wrote that. Congratulations on a good call.

Awesome. And now I hope you are correct with your call, that this was the bottom. I'm really tired of trading. Hodling is leisure.

[Vigil]

That was the bottom of the bear market. I've seen it several times before and that's what it looked like.  You can quote me on that.

LOL. All big dumps from here on out will be profit taking and not people cutting their losses. The weak hands lost their grip and gave us their coins. We're coming out of the valley and onto the plains, building up speed for the next mountain range.

There haven't been any cheap coins if you are trying to purchase from Coinbase. They are still at $700 aside from the 5 minutes this early morning (Eastern Time) when they went down.

[wachtwoord]

Man everyone who was saying how bored they were getting with the stability of bitcoin over the last month really jinxed us!   The volatility came back, just in the wrong direction.   I just want us to get back to the $800 or so range...I feel like that is a fair price for the overall adoption that bitcoin has currently..

What I don't want to happen is for it to keep shooting straight down, and then straight up to point where major companies start second guessing accepting bitcoins (or worse yet decide to stop accepting btc if they have already done so).

Drops often precede growth phases.

[Loaded]

The incompetence at gox is absolutely inexcusable, possibly criminal. There may be a lawsuit soon.

[adamstgBit]

That was the bottom of the bear market. I've seen it several times before and that's what it looked like.  You can quote me on that.

the scary part is that ask depth hasn't grown all that much...

this leads me to believe there are still plenty of gains to be had, and we will put in a new and much higher ATH, in the near future


FUD be damned,

we are going to mars even if  Mr Putin didn't Put in anything

[KFR]

The incompetence at gox is absolutely inexcusable, possibly criminal. There may be a lawsuit soon.

We'll bring the pitchforks.

[Richy_T]

Done with Gox
Explanation

YAY! way to go ChartBuddy!

any chance you could add CaVirtex chart? (I realize there is very little demand for such a chart, but I would be very curious to see how it looks in that format and compared to one of the "big-boy" exchanges  

When I added Stamp, I made several changes to the code to make it much less Gox-centric. With a little more tweaking, it should be fairly easy to add more exchanges. Maybe by the end of the week.

[podyx]

http://i50.tinypic.com/2n8oigp.gif

another drop, another rally 

[billyjoeallen]

That was the bottom of the bear market. I've seen it several times before and that's what it looked like.  You can quote me on that.

LOL. All big dumps from here on out will be profit taking and not people cutting their losses. The weak hands lost their grip and gave us their coins. We're coming out of the valley and onto the plains, building up speed for the next mountain range.

There haven't been any cheap coins if you are trying to purchase from Coinbase. They are still at $700 aside from the 5 minutes this early morning (Eastern Time) when they went down.

There was a period where they were in the 630s. I bought a little and went back to sleep. Americans don't cower when we get scared. We find somebody's ass to kick.

[mb300sd]

annnnd we're back where we were yesterday. This might have actually been a good thing, weak hands definitely shaken.

[adamstgBit]

701.8
tick tock
time is running out.

[PoolMinor]

Hey I made that! YAY! Someone reads my posts sometimes.

Sorry borrowed from you and from Here

[spooderman]

That was the bottom of the bear market. I've seen it several times before and that's what it looked like.  You can quote me on that.

LOL. All big dumps from here on out will be profit taking and not people cutting their losses. The weak hands lost their grip and gave us their coins. We're coming out of the valley and onto the plains, building up speed for the next mountain range.

There haven't been any cheap coins if you are trying to purchase from Coinbase. They are still at $700 aside from the 5 minutes this early morning (Eastern Time) when they went down.

There was a period where they were in the 630s. I bought a little and went back to sleep. Americans don't cower when we get scared. We find somebody's ass to kick.

[adamstgBit]

[billyjoeallen]

That was the bottom of the bear market. I've seen it several times before and that's what it looked like.  You can quote me on that.

the scary part is that ask depth hasn't grown all that much...

this leads me to believe there are still plenty of gains to be had, and we will put in a new and much higher ATH, in the near future


FUD be damned,

we are going to mars even if  Mr Putin didn't Put in anything

Putin will lose some popularity points if he causes Russians to miss out on this.

[shmadz]

it was probably a trader that stayed up all night to read the gox update, when it finally came in, he thought this is it the protocol is broken, and sold in a panic thinking the price would not bounce back because "this is the end of bitcoin"

and yes traders should have low ball orders for panic sells like this

probably wouldn't do much for the price, but it will mean cashing in on retarted panic sells

To be honest we have grown 2 orders of magnitude, and when you trade in a foreign currency you sometimes make mistakes.

I think he hit sell at $60 not 600 thinking mBTC.  I think he is OK. Got most of his order filled at a good price. Definitely lack of sleep.

wow, I think this is the most likely scenario I have heard. (Adrian's hypothesis, not Adam's)  I have once done the same sort of thing, hitting buy instead of sell, and your buy price is so low that all your coins go poof! I can imagine a scenario where someone who is long on fiat wants to put in a nice lowball order like buy 1000 bitcoin for 100 each. Instead he hits sell 1000 bitcoin for 100 each.

I've done it once, luckily I trade in 0.1 bitcoin increments, and btw, I hate all that mBTC "we need to change the standard so people can understand it easier"... maybe it will become the case in the future, but anyone playing with bitcoin right now needs to at minimum be able to understand the decimal system

(appologies, but while we're at it, could we please get the Europeans to just adopt the . as the decimal? and not the comma? like, 1.000.000,00 is just the wrong way to depict a million dollars. - sorry bout decimal rant)

[aminorex]

CryptoGirl82  predicted a drop to 100 before BTC-E painted 102.

February 11th spike top coming, as previously predicted by PoolMinor.

This is getting creepy.

[creekbore]

I have to say, while I've always known BTC is one resilient bad ass, i never realised quite how much.

I'm wondering if the events of the last 24 hours have sunk in really: the "major" BTC exchange has failed completely and tried to discredit the entire BTC protocol, rather than admit their own incompetentcy.

BTC fell, shrugged and we are now back over $700.

This is resilience.  Impressive isn't it.

I really wish all the little fappers would stop fapping their little "look it fell to 102" charts and go invest in the NASDAQ or somewhere else.