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

[PoolMinor]

For every weak hand that has been shaken another new weak hand bought coins. After every crash, big or small, i have to read how the weak hands are shaken. There would've been no weak hands left by now. It's nonsense.

Edit:

Some of my BTC will be leaving my weak hands between today and tomorrow at about $780-$800 area.

[fonzie]

Something real bad is about to happen.

Anatomy of a bubble might finally become true.(sub 200$)

You can quote me on that.

[7thKingdom]

Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?

*Note, I have no TA abilities.  I rely on very basic eye test and common sense*

I think today was VERY bullish for the long term.  To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects.

That said, I'd be surprised if we were to really test these buy walls at 720 and 750 (on stamp) too much in the short to medium term.  Lots of buyers spent money today getting cheap coins, which means 1) people are going to be less liquid to buy at current prices and 2) People who got cheap coins could add more selling pressure at these levels.

So short/medium term, I expect a little downward pressure, but nothing too serious.  A lot of low volume sidewise/slightly down activity similar to most of January.  It'll probably be boring and unsexy.

But, I can't help end today with a smile on my face (it helps I got some cheap coins... though not as many or as cheap as I would have liked lol).  While I don't see us headed to the moon for now, I think today was actually a large step in the right direction.

[shmadz]

Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?

*Note, I have no TA abilities.  I rely on very basic eye test and common sense*

I think today was VERY bullish for the long term.  To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects.

That said, I'd be surprised if we were to really test these buy walls at 720 and 750 (on stamp) too much in the short to medium term.  Lots of buyers spent money today getting cheap coins, which means 1) people are going to be less liquid to buy at current prices and 2) People who got cheap coins could add more selling pressure at these levels.

So short/medium term, I expect a little downward pressure, but nothing too serious.  A lot of low volume sidewise/slightly down activity similar to most of January.  It'll probably be boring and unsexy.

But, I can't help end today with a smile on my face (it helps I got some cheap coins... though not as many or as cheap as I would have liked lol).  While I don't see us headed to the moon for now, I think today was actually a large step in the right direction.

Nice to see a newbie with a sensible outlook.

Welcome to hell!!!1  

*edit* WTH? I am now hero member!! tremble with fear!!! Oh wait, remember that bitcoin does not require heroes. bitcoin does not require consent. And I'm just a joker who punches my fingers on a flat thing with a bunch of buttons 

[7thKingdom]

Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?

*Note, I have no TA abilities.  I rely on very basic eye test and common sense*

I think today was VERY bullish for the long term.  To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects.

That said, I'd be surprised if we were to really test these buy walls at 720 and 750 (on stamp) too much in the short to medium term.  Lots of buyers spent money today getting cheap coins, which means 1) people are going to be less liquid to buy at current prices and 2) People who got cheap coins could add more selling pressure at these levels.

So short/medium term, I expect a little downward pressure, but nothing too serious.  A lot of low volume sidewise/slightly down activity similar to most of January.  It'll probably be boring and unsexy.

But, I can't help end today with a smile on my face (it helps I got some cheap coins... though not as many or as cheap as I would have liked lol).  While I don't see us headed to the moon for now, I think today was actually a large step in the right direction.

Nice to see a newbie with a sensible outlook.

Welcome to hell!!!1 

Sorry, what i meant to say was, TO DA MOON TOMORROW or else DOOM for all and $10 coins by next week!!!

I feel like I fit in much better now.

[shmadz]

Anyone want to fulfill this thread's purpose and provide some insight as to where we are headed?

*Note, I have no TA abilities.  I rely on very basic eye test and common sense*

I think today was VERY bullish for the long term.  To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects.

That said, I'd be surprised if we were to really test these buy walls at 720 and 750 (on stamp) too much in the short to medium term.  Lots of buyers spent money today getting cheap coins, which means 1) people are going to be less liquid to buy at current prices and 2) People who got cheap coins could add more selling pressure at these levels.

So short/medium term, I expect a little downward pressure, but nothing too serious.  A lot of low volume sidewise/slightly down activity similar to most of January.  It'll probably be boring and unsexy.

But, I can't help end today with a smile on my face (it helps I got some cheap coins... though not as many or as cheap as I would have liked lol).  While I don't see us headed to the moon for now, I think today was actually a large step in the right direction.

Nice to see a newbie with a sensible outlook.

Welcome to hell!!!1 

Sorry, what i meant to say was, TO DA MOON TOMORROW or else DOOM for all and $10 coins by next week!!!

I feel like I fit in much better now.

Tomorrow, tomorrow, I'll be rich, tomorrow. It's always a day away.

Always keep in mind that this is an experiment.

[klondike_bar]

eah something fishy going on.

my biggest concern that i wish i paid more attention to my balance for, is that I dont know if when the second spam txid is broadcast - does it cause my wallet balance to read lower?

Ie: if I have 3BTC and I send 1BTC, and then a spam rebroadcast goes out saying the same 1BTC transaction but never confirms, will my bitcoin-Qt wallet show 2BTC in it or will the client misread this to think that there is only 1BTC left?

imagine if it were to basically abandon coins when it creates te change address - it could be rescanned but there could be serious losses to some people who dont notice

[TERA]

Looks like a hard bounce off of extremely oversold conditions in bollinger band and RSI (even I was never expecting it to drop this low this fast). However, it recently crossed under ichimoku cloud which is now sitting at $775. So I'm not expecting a sudden rocket to the moon (or even 800). I think right now we're just seeing a frenzy where people are panic buying their coins back after they panic sold due to the news and thinking bitcoin was doomed. Once the rebuy is over, things might settle down and then drift into the next (or final) downwave.

[JimboToronto]

Anatomy of a bubble might finally become true.(sub 200$)
You can quote me on that.

[surfer43]

Anatomy of a bubble might finally become true.(sub 200$)
You can quote me on that.

The bottom lasted 2 seconds 

[JimboToronto]

To deal with the FUD and panic we had today, and currently be sitting at over 3%+ in the last 24 hours as of this post, is incredibly good news for the long term prospects.

Bitcoin Bozo always seems to bounce back.

[shmadz]

eah something fishy going on.

my biggest concern that i wish i paid more attention to my balance for, is that I dont know if when the second spam txid is broadcast - does it cause my wallet balance to read lower?

Ie: if I have 3BTC and I send 1BTC, and then a spam rebroadcast goes out saying the same 1BTC transaction but never confirms, will my bitcoin-Qt wallet show 2BTC in it or will the client misread this to think that there is only 1BTC left?

imagine if it were to basically abandon coins when it creates te change address - it could be rescanned but there could be serious losses to some people who dont notice

I'm not sure what client you use, but on the reference client you can hit the "export" button on the bottom left to get a csv of your entire transaction history. You can run this on a spreadsheet just to make sure everything lines up (I did, just a few days ago, and of course it lined up)

You can even go through every transaction in that list and verify them on the blockchain, though these recent unverified transactions look suspicious, once your transaction is verified by the blockchain, it is irrefutable.

the one thing I hope for most in the aftermath of the fall of GOX is that people will learn better about how bitcoin works.

I tell all my friends, when they ask me about bitcoin, and then they ask me how many I have. I always just say "it's not about how much bitcoin you have, it's about how much bitcoin you know"

Meaning, I think the better you understand what bitcoin is, and what it means, the better you will be able to navigate our uncertain financial future.

[ChartBuddy]

Done with Gox
Explanation

[shmadz]

Oh yeah, just thought of this too,

when someone brings up gold and silver as "honest" money, just remember that bitcoin doesn't care about "honests"


Bitcoin is Voluntary Money

[NewLiberty]

Always keep in mind that this is an experiment.

And its in beta...  RC-0.9.
Software is never really done until at least version 3.1

[klondike_bar]

eah something fishy going on.

my biggest concern that i wish i paid more attention to my balance for, is that I dont know if when the second spam txid is broadcast - does it cause my wallet balance to read lower?

Ie: if I have 3BTC and I send 1BTC, and then a spam rebroadcast goes out saying the same 1BTC transaction but never confirms, will my bitcoin-Qt wallet show 2BTC in it or will the client misread this to think that there is only 1BTC left?

imagine if it were to basically abandon coins when it creates te change address - it could be rescanned but there could be serious losses to some people who dont notice

I'm not sure what client you use, but on the reference client you can hit the "export" button on the bottom left to get a csv of your entire transaction history. You can run this on a spreadsheet just to make sure everything lines up (I did, just a few days ago, and of course it lined up)

You can even go through every transaction in that list and verify them on the blockchain, though these recent unverified transactions look suspicious, once your transaction is verified by the blockchain, it is irrefutable.

the one thing I hope for most in the aftermath of the fall of GOX is that people will learn better about how bitcoin works.

I tell all my friends, when they ask me about bitcoin, and then they ask me how many I have. I always just say "it's not about how much bitcoin you have, it's about how much bitcoin you know"

Meaning, I think the better you understand what bitcoin is, and what it means, the better you will be able to navigate our uncertain financial future.

great - so my exported transaction list DOES NOT ADD UP.

it includes the duplicate transaction of -0.2201 marked as 'Confirmed=FALSE' and a partly-confirmed mining income from an hour ago of 0.1674

please help me out here:

Wallet Status: Balance: 0.2146 BTC   Unconfirmed: 0.00 BTC    Immature: 0.1674 BTC
using the exported csv and adding all the transaction amounts, I get a total of 0.1363 BTC - this includes both the mining income and unconfirmed double spend.
Why does the math not add up? No matter how you add/subtract the renegade values my wallet amount isnt right

[deeplink]

Software is never really done until at least version 3.1

Like Windows 3.1

[el_rlee]

eah something fishy going on.

my biggest concern that i wish i paid more attention to my balance for, is that I dont know if when the second spam txid is broadcast - does it cause my wallet balance to read lower?

Ie: if I have 3BTC and I send 1BTC, and then a spam rebroadcast goes out saying the same 1BTC transaction but never confirms, will my bitcoin-Qt wallet show 2BTC in it or will the client misread this to think that there is only 1BTC left?

imagine if it were to basically abandon coins when it creates te change address - it could be rescanned but there could be serious losses to some people who dont notice

Nope.
This would be only true if more people like Mr. Karpeles decide to program their own wallet.

[TERA]

Months ago I saw a youtube tutorial on to steal coins from mtgox by using some software that finds internal transactions floating around their system and rebroadcasting somehow. The video was written years ago. I figured that mtgox had fixed the issue already or software was a virus (not that I would do something like this anyway). Is this the same issue that mtgox just announced yesterday, still not fixed, after years?

[ScrapOfCat]

Bitcoin Bozo always seems to bounce back.

Having to restrain myself from attempting to register "Bitcoin Bozo" everywhere.