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

[kkaspar]

suspense in the air is killing me!..... who will move first.... and who will move harder?

Gox in trouble -> publicity -> more people understand btc -> people decide they want to be part of it -> a few days pass until they get their money into the exchanges -> I'm writing this post -> another day passes -> the money hits the exchanges -> better wear your space suit

I would really like to meet this person who goes "Hey! Look! People who invested in bitcoin lost money because the exchange service turned out to be fraudulent. Wife, give me my wallet, I'll better transfer some money to a bitcoin exchange quickly to buy those bitcoins"

This is what I was touching on earlier. What of "fresh fiat?"

Like I said before, there won't be a recovery until the threat on the integrity of the entire market system is resolved. I only see two options for that, either gox suddenly finds all the btc and fiat or someone will bail gox out.
It was funny to me how people yelled "this is the bottom! now to recovery!" while the most important questions were still unanswered. People were so anxious and blinded that they jumped the gun and are still not able to realize what they did.
I was speculating that BTC will drop to around 200-300$ where it will find it's true solid base, where it will rest for some time. But with all this stupidity and denial flying around, I'm starting to think more about double digits.

[BitChick]

suspense in the air is killing me!..... who will move first.... and who will move harder?

Gox in trouble -> publicity -> more people understand btc -> people decide they want to be part of it -> a few days pass until they get their money into the exchanges -> I'm writing this post -> another day passes -> the money hits the exchanges -> better wear your space suit

I would really like to meet this person who goes "Hey! Look! People who invested in bitcoin lost money because the exchange service turned out to be fraudulent. Wife, give me my wallet, I'll better transfer some money to a bitcoin exchange quickly to buy those bitcoins"

Yes.  I am not keeping my hopes up right now.  However, let's skip ahead a few weeks and Bitcoin, doing what Bitcoin does, has another little rally and then the press has some sort of news post such as "BITCOIN BACK FROM THE DEAD!"  or "BITCOIN REACHES NEW HEIGHTS IN SPITE OF MT. GOX INSOLVENCY!"  Then eyes might be raised and people will begin to understand that Bitcoin is not as risky of an investment as they were led to believe and suddenly the money will start really pouring in.

But of course, this is all pure speculation on my part.  

[magicmexican]

is this the sound of the train?

[sonofliberty]

CCMF?

[TERA]

CCMF?

You're going to go insane if you look at 3 minute charts all day.

[MANofthePEOPLE]

Personally I'm hoping it goes down as it's in my best interest but I also don't mind the moon. As soon as we dont go horizontal for a week+ I'm happy.

Btw how come huobi change bar went from looking like btc-e's to bitstamps? Always wondered why btc-e and huobi look completely different on bitcoinity

[MNDan]

Personally I'm hoping it goes down as it's in my best interest but I also don't mind the moon. As soon as we dont go horizontal for a week+ I'm happy.

You look at the graphs and it's easy to see we could go 6 months horizontal - especially if it takes that long to get any info out of Gox.

[dreamspark]

lol at anyone who bought into that gox rally earlier.

[zyk]

suspense in the air is killing me!..... who will move first.... and who will move harder?

Gox in trouble -> publicity -> more people understand btc -> people decide they want to be part of it -> a few days pass until they get their money into the exchanges -> I'm writing this post -> another day passes -> the money hits the exchanges -> better wear your space suit

It's not that easy, I doubt the initial rise if it happens soon will be from new people, you don't read about exchange taking hundreds of millions of users money and sending money to another exchange same day.

If we go up now, it's money from old bitcoiners, noobs might join later if it goes up but them starting it at this moment - I doubt it.

One early-adopter after the other is going to trash his stash now as they can´t agree to back Mark...

and no idiots to sell to in sight OMG...the die is cast !

[HairyMaclairy]

suspense in the air is killing me!..... who will move first.... and who will move harder?

Gox in trouble -> publicity -> more people understand btc -> people decide they want to be part of it -> a few days pass until they get their money into the exchanges -> I'm writing this post -> another day passes -> the money hits the exchanges -> better wear your space suit

I would really like to meet this person who goes "Hey! Look! People who invested in bitcoin lost money because the exchange service turned out to be fraudulent. Wife, give me my wallet, I'll better transfer some money to a bitcoin exchange quickly to buy those bitcoins"

This is what I was touching on earlier. What of "fresh fiat?"

I have fresh fiat and it's just sitting there.  Waiting for someone much bigger than me to move.

[optimi]

I really, really doubt that.

Reading that 400m of investor money was stolen (again, read) from the "biggest[or "one of the biggest"]" exchanges is 100% bad.

Go read any news article and check the comments on it. "I knew it was a scam" "Get rich quick fail" basically this re-assured everyone bitcoin was a scam.

Nope, 99 % don't change their negative view. 1 % does due to the publicity.

At this time publicity is good for btc. It doesn't matter if it's good or bad publicity until everybody has understood btc enitrely.

Show me 1 person that "really" understands that btc is a protocol and I show you 1000 that don't.

[meanig]

I really, really doubt that.

Reading that 400m of investor money was stolen (again, read) from the "biggest[or "one of the biggest"]" exchanges is 100% bad.

Go read any news article and check the comments on it. "I knew it was a scam" "Get rich quick fail" basically this re-assured everyone bitcoin was a scam.

Those people will never change their opinion so it doesn't matter what they think. It will have to get to the stage where they are using Bitcoin without evening knowing it before they recant.

For the people who were already thinking about getting into Bitcoin hopefully the gox failure will make them more cautious about who they deal with and how they store their coins. A good thing in my opinion.

[aminorex]

is this the sound of the train?

not a decisive upward break until at least 590, arguably 610 + a margin.

[Nemo1024]

You're going to go insane if you look at 3 minute charts all day.

This made my day. I used to stare at 1-minute charts, but currently I found a good balance in 15-minute charts with SAR, over a 10-day period. Gives the feel of the trends, while still showing the latest movements.

[cbutters]

I agree that to some extent, any news is good news with bitcoin.... those 1000 people that hear the bad news, 99 percent of them weren't going to invest or participate anyways, at least not yet... but you may pick up a new 1% of people who now become aware of bitcoin and do invest because of the news.... (albeit bad news)

[aminorex]

regulated exchanges will never be able to compete with free markets once adequate cryptographic guarantees to insure security of lodged funds are provided with a usable workflow.

Huh, who said something about (governmental) regulation?

Satan, wearing a business suit, with a flag on the lapel.

[meanig]

I would really like to meet this person who goes "Hey! Look! People who invested in bitcoin lost money because the exchange service turned out to be fraudulent. Wife, give me my wallet, I'll better transfer some money to a bitcoin exchange quickly to buy those bitcoins"

Why don't you stop spouting nonsense and reply to my sharp observation

Bitcoin was already trusted in around 2011. Mainly in a drug community, but still.
The new currency needs security and a more user-friendly usability. The attention will come quickly because there is already a lot of attention on the subject. Bitcoin had to catch the attention on the entire subject itself. If a crypto emerges with better qualities, then people will start jumping cryptos fast. It's the nature of products that are supported mostly by hype. Support from hype is a fragile thing because people will get amazed by new alternatives very quickly. I think that doggecoin perfectly showed the nature of bitcoin. You don't even need a better quality product and simplistic lowbrow hype was all it needed to become quite popular.

Are you fucking joking? Bitcoin had no credibility in the eyes of the outside world back in 2011. SilkRoad was very small back then so you can't even say the online drug community trusted it. One fuckup after another along with the slow slide in price gave the few people who had heard of it ammunition to shit on Bitcoin at every opportunity. It all culminated in the infamous Rise and Fall of Bitcoin article in Wired at the end of the year. I need to stop now or I'll have nightmares about Bruce Wagner's grin and the mybitcoin heist. Where are you Tom Williams???

 

[optimi]

Reading that 400m of investor money

Some people (very few indeed) will read this and say: "Man, I'm smart enough, I want to understand btc."

And they will find out that there are:

1. Speculators
2. Investors
3. Smart investors that keep their private keys in a safer place than an exchange

Nr. 3 didn't lose any btc.

And some people will get it.

[seleme]

Ignore helps.

[fotosonics]

Movement