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

[Hypnoise]

love it..who are these jokers dumping 450 coins on gox at 350

gox buy and sell to itself

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[7thKingdom]

What I never understand is, somebody dumped 500 coins for 350 on gox and then somebody buys 0.01 coins for 370 and the price jumps up so fast to 370 on bitcoinwisdom. Why does it not go down that fast when somebody dumps 500 cheap coins?

The price goes as high/low as the most recent buy/sell.

If the highest buy order is for 350 and someone sells their coins at market, it will fill those 350 buy orders.  If there's 1,000 worth of coins on the books at 350, then I can sell 500 and the price will still be 350.

Likewise, if the lowest standing sell order is for 370 and someone wants to buy at market, they will have to jump all the way up to that 370 price.

Essentially, there is a $20 spread between the buy and sell orders, so the price will fluctuate between the two depending on who wants to buy/sell at market value.  100 coins or 0.01 coins, it doesn't matter.  Someone puts in a market sell the price immediately drops to 350.  2 seconds later someone puts in a market buy, the price immediately jumps up to 370.  The amount is irrelevant.

[ShroomsKit]

Ok my bearish prediction (i can't believe i'm doing this). Unless Gox will be fixed and the price goes up a lot i think we'll stay at 650 for a while. Some good news will be posted but the price won't react. Then halfway next week people slowly are gonna poop their pants again and by friday everybody is ready to panic sell again.
The slightest hint of bad news will take us to 570. Moderate bad news will take us even lower. Real bad news and we'll see 200 or less.

Also think about this. Withdrawels are disabled and we fall 200 dollars. Withdrawels are enabled and we go up 30 bucks. Once agains shows that good news hardly does anything to the price anymore.

There will be no choo choo anytime soon. The only thing on people's mind is sell sell sell.

I'm going to adjust this. We're going down way sooner. The pants pooping part is already starting. It won't take too long before someone starts dumping on Gox. We need some good news real soon or it's down again.

Edit: i mean starts dumping on Stamp.

[HairyMaclairy]

When Gox goes to zero things will become more interesting.

[JorgeStolfi]

The MtGOX robot that buys or sells 40-60 BTC every few minutes is still working steady it seems.

I already told you that, after three months of transcribing and plotting the Fukushima reactor data released by TEPCO twice a day, it was revealed that the instruments were all broken and that all that data was meaningless.

I am beginning to feel the same with bitcoin.  We have all those nice chart sites that seem to tell us a lot about the market, but actually we do not know how much of the order book is fake, how many transactions are fake, how many accounts they reallu have, how many clients are actively trading, how many coins and dollars the clients think they have, how many coins and dollars the exchange actually owns...

God only knows what is going on inside those outfits.

[HairyMaclairy]

Indeed Jorge.  But I feel that way about the stock market as well.

I am sure you recall Enrons black box.



The first exchange to allow PWC to audit its books will have a competitive advantage.  Maybe that will be Circle.

[Hypnoise]

Ok my bearish prediction (i can't believe i'm doing this). Unless Gox will be fixed and the price goes up a lot i think we'll stay at 650 for a while. Some good news will be posted but the price won't react. Then halfway next week people slowly are gonna poop their pants again and by friday everybody is ready to panic sell again.
The slightest hint of bad news will take us to 570. Moderate bad news will take us even lower. Real bad news and we'll see 200 or less.

Also think about this. Withdrawels are disabled and we fall 200 dollars. Withdrawels are enabled and we go up 30 bucks. Once agains shows that good news hardly does anything to the price anymore.

There will be no choo choo anytime soon. The only thing on people's mind is sell sell sell.

I'm going to adjust this. We're going down way sooner. The pants pooping part is already starting. It won't take too long before someone starts dumping on Gox. We need some good news real soon or it's down again.

most "up" rallies were not related to good news about bitcoins, but bad news about fiat.

[windjc]

Ok my bearish prediction (i can't believe i'm doing this). Unless Gox will be fixed and the price goes up a lot i think we'll stay at 650 for a while. Some good news will be posted but the price won't react. Then halfway next week people slowly are gonna poop their pants again and by friday everybody is ready to panic sell again.
The slightest hint of bad news will take us to 570. Moderate bad news will take us even lower. Real bad news and we'll see 200 or less.

Also think about this. Withdrawels are disabled and we fall 200 dollars. Withdrawels are enabled and we go up 30 bucks. Once agains shows that good news hardly does anything to the price anymore.

There will be no choo choo anytime soon. The only thing on people's mind is sell sell sell.

I'm going to adjust this. We're going down way sooner. The pants pooping part is already starting. It won't take too long before someone starts dumping on Gox. We need some good news real soon or it's down again.

Edit: i mean starts dumping on Stamp.

The only one on here pooping in their pants is you.

[windjc]

love it..who are these jokers dumping 450 coins on gox at 350

I have been scratching my head at Gox traders for months. By far the stupidest reactionary idiots in the world. Literally selling their coins at 60 cents on the dollar. Gox isn't going to run off with anything.

Stupid. Stupid. Stupid.

What can you say? I can't wait for these stupid traders to move to the exchange I am on, so I can wipe the floor clean with them in the future.

[ChartBuddy]

Explanation

[kkaspar]

http://www.youtube.com/watch?v=x0q8Oho_RjM

yeah...

[creekbore]

Bonjour/Gutentag/G'day,
Well, just been catching up....dearly me some folks are getting rather tetchy aren't they.

Good to see the karpeles petition has gathered pace
https://www.change.org/en-GB/petitions/petition-to-remove-mark-karpeles-from-the-board-of-the-bitcoin-foundation#share
only 179 needed now.

"Over time bitcoin changed and started implementing changes that would require people using previous versions of the software to upgrade. While we followed most of those updates we were more and more busy and couldn't keep up with all the changes,"

Mark Karpeles
too funny

That's some strategic management.

Congrats to all who bought at 540 and sold at 720 (not me I may add).

So, what's in store today?

[hlynur]

are there any problems with stamp atm?
After logging in i get to a blank page instead of being asked to enter 2FA-code.

edit: back to normal now. (strange...first time that happened for me)

[creekbore]

As someone noted earlier the Parabolic SAR on the Stamp chart has switched to support on the 1month, 2month, 3month, 6 month and 1 year charts. 

So, difficult to believe we will be testing yesterday's lows again - if you want to buy back in, judge it well.

[kkaspar]

Bulls, I love you..
I wasn't born as a bear.. When I visited the bitcoin market I was as bullish as one can be...! it's always more comfortable to be a person with a more positive outlook on things!
But.. guys, I'll be back on being a bull, just as soon you will finish this bearish market that needs to be finished... just end it at the price around 200$ and we can all recover and prosper!

[ChrisML]

My emotions are telling me to buy back in BIG right now.  

But my gut says I need to wait a little bit more.

So, yeah... I am waiting. And I fucking hate waiting.

[JorgeStolfi]

I have been scratching my head at Gox traders for months. By far the stupidest reactionary idiots in the world. Literally selling their coins at 60 cents on the dollar. Gox isn't going to run off with anything.

MtGOX's clients apparently have decided that it is less despairing to be owed 350 US$ by Mr. Karpeles than to be owed 1 BTC by him.  I cannot blame them.

MtGOX has been withholding some 40,000 BTC that belong to their clients, worth more than 30 million US$, for months, in spite of loud protests.  Those BTC have lost 20% of their value in the past two weeks.  And MtGOX did not even bother to give an estimate as to when those BTC would be released.

Why are they holding on to their clients's property? The technical bugs are not an excuse: they could have done those withdrawals by hand, using the standard wallet apps, while they fixed the bugs on their software.

MtGOX may not be insolvent, but they are acting in all respects as if they were.  Mr. Karpeles may not be a swindler, but he is impersonating one quite well.

EDIT: owned --> owed

[arklan]

I I go spend the week (before starting my new job, Yay!) with my fiance at her place, away from my computer, and thus sorta ignore this thread all week. Check it now, 200 pages since I last checked in. I knew the Gox news made for an interesting week, but fuck, guys! :-D

[kkaspar]

Guys, when there are people among you, who are as cool or cooler then me...
... then you should know this song: http://www.youtube.com/watch?v=bV-hSgL1R74

[kkaspar]

I was like this at the start of December and no one would listen!
http://www.youtube.com/watch?v=Lp5ekMlQvi4