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

[kromer]

The UK scrapping Bitcoin tax has huge implications. The trend is breaking.

[aminorex]

1936 coins to go down to 560. What-the-fluff-is-happening?
There must be news somewhere. Either that or gigantic pump.

But really, a single 1500 btc purchase could just mean the guy wants to buy a fancy painting or a large amount of cocaine or something.

(EDIT:  TERA's value blunder merits no more excoriation than the thread supplied already, so...deleted.)

[Walsoraj]

I see 16.5 mil bid depth on stamp. Wasn't there nearly 21 mil less than an hour ago?

 

I wonder what's going to happen.

[aminorex]

I see 16.5 mil bid depth on stamp. Wasn't there nearly 21 mil less than an hour ago?

That means that the 12.5 million ask depth is down to 8 million now?  Given the change from 25/42 to 16/33 means that 5:8 excess bid has become 1:2 excess bid, roundly, price should rise now, about 12%

[dreamspark]

Yes is it may cost more to have that sized wall but the ratio is the important thing, the amount of btc on the exchange isnt really growing on a minute by minute basis so someone wanting to buy 10,000 btc is going to cause a bigger price rise than a 1500 btc wall, supply and demand

[MAbtc]

I see 16.5 mil bid depth on stamp. Wasn't there nearly 21 mil less than an hour ago?

That means that the 12.5 million ask depth is down to 8 million now?

[Walsoraj]

I'm looking at bitcoinity.org. Is it inaccurate?

[EuroTrash]

The temptation to sell into that wall...

[TERA]

So about 20,000btc were removed from the 200s and 300s today and 1500btc was added at 570. I'm not sure what to think. The only number that doesn't lie is the volume (on bitstamp).

[JorgeStolfi]

Just not true.  Serious academics shouldn't make such statements - baseless assumptions that a couple of minutes of research would completely debunk.
http://antonopoulos.com/2014/02/25/coinbase-review/

Thanks for the link.

Right, and I forgot also that Roger Ver did a similar audit of MtGOX and certified that they were fully solvent.  

For over 10 years I have been explaining to people down here that if a fully-digital voting machine prints the total votes in two different formats, and the printouts match, it does not follow that the totals are correct.  Most people understand that, unfortunately not the people who are in charge of our voting system.

So Mr. Antonopoulos was shown two numbers by Coinbase, the total BTC balance of their clients and the total number of BTC in their cold storage wallets.  He checked the latter, and since the two numbers matched, he vouched for Coinbase not being Karpelian.

At least  he did a more thorough audit than Ver, who was shown bank statements about the value of "A" and vouched that "(A+B)-(X+Y)" was positive.

And neither Ver nor Antonopoulos told us the actual numbers...

http://blog.coinkite.com/post/77699705732/updated-audit-report-transparency-and

This is a new exchange that vowed to be transparent, right?

etc.

The "etc" does not include BTC-e, does it? Or Bitstamp, or Bitfinex?

AFAIK, those three are now the largest exchanges outside China, and the rest is small crumbles.  

[MAbtc]

I see 16.5 mil bid depth on stamp. Wasn't there nearly 21 mil less than an hour ago?

That means that the 12.5 million ask depth is down to 8 million now?  Given the change from 25/42 to 16/33 means that 5:8 excess bid has become 1:2 excess bid, roundly, price should rise now, about 12%

LOL, dude that is fucking hilarious.

[aminorex]

I see 16.5 mil bid depth on stamp. Wasn't there nearly 21 mil less than an hour ago?

That means that the 12.5 million ask depth is down to 8 million now?  Given the change from 25/42 to 16/33 means that 5:8 excess bid has become 1:2 excess bid, roundly, price should rise now, about 12%

LOL, dude that is fucking hilarious.

I suspect exactly one person truly appreciated the joke.  But it was worth it.

EDIT:  Counting more carefully, I get three.

[TERA]

This whipsawing is hell. 30 minutes ago I was convinced it was going down. Now because one douchebag made a buy and put up this wall, all the indicators are up again. And this has has happened about 3 times now.

[porcupine87]

I see 16.5 mil bid depth on stamp. Wasn't there nearly 21 mil less than an hour ago?

That means that the 12.5 million ask depth is down to 8 million now?

What exactly does this chart tell us? When I put 10 000btc on stamp in a sell order at 5000$, would the real supply of bitcoins increase?

The wall is not 1450btc at 570.5$. And also there is a wall with 1500btc at 599$.

[JorgeStolfi]

Sorry for the duplicate post, my browser went kaputt during the first attempt and I though it didn't go through.

[simmo77]

Maybe his Monday Fiat arrived.

not possible

If he lives in New Zealand or East Coast of Australia, it' possible.

[adsdas]

Sell into the wall and buy back in higher

[seleme]

This whipsawing is hell. 30 minutes ago I was convinced it was going down. Now because one douchebag made a buy and put up this wall, all the indicators are up again. And this has has happened about 3 times now.

Lol, exactly. But this doesn't look convincingly yet, I've done things like this in some small alts pushing the price up with walls just do dump higher. I don't trust one guy pushing the price up on his own with big wall without people actually joining him.

[derpinheimer]

This whipsawing is hell. 30 minutes ago I was convinced it was going down. Now because one douchebag made a buy and put up this wall, all the indicators are up again. And this has has happened about 3 times now.

Lol, exactly. But this doesn't look convincingly yet, I've done things like this in some small alts pushing the price up with walls just do dump higher. I don't trust one guy pushing the price up on his own with big wall without people actually joining him.

Neither China nor BTC-E are following. Likely not going anywhere up, yet.

[f4tal1ty]

Mt. Gox callcenter should be available now, did anyone of you guys get through?