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

[delphic]

Obviously you are wrong, because according to you, 95% of November rally price is from China and it hasn't dropped to 5% of ATH yet, or is that what you are  predicting? If I lived in China, I'd be a hodler. Moreso than now even. I can do international wire xfers. The Chinese can't. Bitcoin can be spent almost anywhere. The renmimbi can only be spent in China.

I will happily accept your RMB.

LOL you're like that really smart kid in the front of the class who finds fault with the oversimplification of the idea I give to the slower learners.

And you're right, our student doesn't really understand the definition of "zero-sum".

Mining is a break-even proposition, which means half the mining makes a profit and the other half loses money. Bitcoins are produced, so there is a positive sum.

'Student'... LOL, I wish I was a student again.... but that was a very, very long time ago. Happy days.

[ChartBuddy]

Explanation

[podyx]

Cheap coins everywhere, Christmas came early

There's no such thing as a cheap coin. It is the current market price. Bitcoins have no intrinsic value, only a current market price.

if you think the current price is low compared to what you think the price could/should be, remember that the 'low' price is 'low' because the market implicitly disagrees with you.

What it will be worth in the future is conjecture.

u must be very new here

just a couple days ago there was a flash crash down to 530

[aminorex]

...assumption that the Chinese government understands all the implications of Bitcoin is questionable.

The Chinese government is incredibly conservative in outlook.  Any potential for transformative change is threatening.  They are institutionally very ill-equipped to deal with technical innovation with the potential to change relative power structures, and they are deeply, deeply antipathetic to such innovation.  The inner circles of the CCP form a network of extremely wealthy families, which have co-opted the interests of their society in a superlative fashion.  Defectors from their ranks will be required in order for bitcoin to get any sort of sanction.  Historical materialism may motivate defections.  It's ideology is pervasive in the CCP, and it forms a potent argument for the inevitability of socioeconomic transformation driven by technological change.  I find it difficult to assess the importance of this motivation.  Certainly it will only affect a very small minority of the power players, but if it affected a critical few, it would become an important factor in events.

[billyjoeallen]

One has to give Gox some credit actually. At least this time they are Goxxing everyone before the rally rather than during it.

What's funny is that the Gox announcement has a worse effect on the price than the DDOS attack, at least so far. We've had so much bad news, we are growing immune.

[fonzie]

lower lows on BTC-E - 616$

Choo choo, bullish as fuck to the mooon

Gox going to break 450$ in the next hours

 

to da moon you bulltards

BillieJean are you still happy as fuck with your cheap 790$ coins

All credit cards maxed out already?

[JorgeStolfi]

When the guy disburses his supply of Yuan to the other traders, that increases supply and devalues it (a little).

It only moves Yuan from a Chinese pocket to other Chinese pockets.  The total amount of Yuan in China remains the same.

Most Governments dislike their currency being exported because any foreign bank or government that gathers enough of it can manipulate their exchange rates, import/export balance,  and inflation.   Some governments try hard to limit export of their currency, others may just live with it, others may have other motives to encourage it.

[oda.krell]

Let's test those buyers' resolve on Bitstamp a bit. Just the tip, promised ^__^

[ShroomsKit]

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

[adamstgBit]

 

[roslinpl]

Bitcoin price is so unpredictible

[oda.krell]

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Where do you see panic selling?

[ShroomsKit]

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Where do you see panic selling?

Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic.
Why would people do that. Is there a reason i didn't think of or just pure stupidity?

[billyjoeallen]

...assumption that the Chinese government understands all the implications of Bitcoin is questionable.

The Chinese government is incredibly conservative in outlook.  Any potential for transformative change is threatening.  They are institutionally very ill-equipped to deal with technical innovation with the potential to change relative power structures, and they are deeply, deeply antipathetic to such innovation.  The inner circles of the CCP form a network of extremely wealthy families, which have co-opted the interests of their society in a superlative fashion.  Defectors from their ranks will be required in order for bitcoin to get any sort of sanction.  Historical materialism may motivate defections.  It's ideology is pervasive in the CCP, and it forms a potent argument for the inevitability of socioeconomic transformation driven by technological change.  I find it difficult to assess the importance of this motivation.  Certainly it will only affect a very small minority of the power players, but if it affected a critical few, it would become an important factor in events.

Yes, power structures will be disrupted. It won't be easy. It won't be pretty, and it won't be overnight, but it is inevitable. The only way to avoid that is for the elite to adopt the technology first, but they are too conservative to do that.

[oda.krell]

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Where do you see panic selling?

Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic.
Why would people do that. Is there a reason i didn't think of or just pure stupidity?

You sound kind of judgmental about that... it's just the market, relax.

Remember how Bitstamp, the old bear, kept pulling the rest down when gox was trying a rally? So, now it's the other way around. I don't see sub-500 coins on gox and plus-600 coins on stamp as a stable situation. And right now, it's more likely to resolve downwards then upwards IMO.

[fonzie]

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Huobi bots track Gox -> Huobi users follow the local bots -> Stamp users follow Huobi.

Chain reaction.

BITCOIN IS DOOMED AND EVERYONE WITH HALF A BRAIN IS AWARE OF THAT AND TRYIN TO GET OUT ASAP!

FTFY

[adamstgBit]

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Where do you see panic selling?

Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic.
Why would people do that. Is there a reason i didn't think of or just pure stupidity?

price is dropping, not rising, thats pretty clear, so... poeple are scared!

[ShroomsKit]

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Where do you see panic selling?

Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic.
Why would people do that. Is there a reason i didn't think of or just pure stupidity?

You sound kind of judgmental about that... it's just the market, relax.

Remember how Bitstamp, the old bear, kept pulling the rest down when gox was trying a rally? So, now it's the other way around. I don't see sub-500 coins on gox and plus-600 coins on stamp as a stable situation. And right now, it's more likely to resolve downwards then upwards IMO.

I understand how it normally would react to eachother but as far as i know Gox prices aren't relevant anymore. It's a non functioning exchange. Why would someone trading on Stamp even pay attention to gox anymore.

[fonzie]

@ShroomsKit

It´s ovious that the owner of Sheepmarketplace is loadin off some of his stolen 100000BTC.
He hasn´t really started to dump until now. Watch out for more sheep action(you bulltard)

[ShroomsKit]

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Huobi bots track Gox -> Huobi users follow the local bots -> Stamp users/bots follow Huobi.

Chain reaction.

Hm ok.