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

[686f646c]

the only flash crash thats going to happen from this point on is when btc-e gets shut down probably this year taking all alts with it

[ChartBuddy]

Explanation

[Walsoraj]

the only flash crash thats going to happen from this point on is when btc-e gets shut down probably this year taking all alts with it

Except Ripple. 

[Richy_T]

Explanation

It's shaping up for a fight.

[686f646c]

the only flash crash thats going to happen from this point on is when btc-e gets shut down probably this year taking all alts with it

Except Ripple. 

i've seen every kind of chart posted in this thread but never ripple, i wonder why...

[JayJuanGee]

Last ~4 hours we've been in a tight range.

Interesting.....

Anything less than a 50% flash crash is boring. 

Surely, a lot of the money can be made on volatility, and we have been in boring territory for a couple of weeks now...

I mean we have been expecting more volatility than what we have been getting.. especially given the Gox Shenanigans with the bankruptcy filing and then the mysterious movement of 180k GOX BTC money and the hacking of Gox information and the appearance of Dorian... and even the threats from Twobit to "OUT" out the bitcoin foundation......

oh yeah, and then there was the pending blockchain announcement on bloomberg tv... but in the end... mostly all of these resulted in anti-climactical movement that let to no meaningful choochoo in either direction.   Is there such a thing as a backward choo choo or a stopped choo choo....

Even litecoin has been somewhat less than exciting.. regarding movement we thought that there may be some action with litecoin base on its increase exposure to china exchanges... .. but that has, so far, kind of flopped.. with an initial spurt that lasted a few hours at most and overall without any real meaningful price changes... (though maybe a little more back and forth movement in prices as comparison to BTC?)

[JayJuanGee]

the only flash crash thats going to happen from this point on is when btc-e gets shut down probably this year taking all alts with it

What are your points of contention regarding the problematic nature of BTC e, if any?    Are they NOT transparent enough?  Are they engaged in fractional banking?  What's going on?

[686f646c]

the only flash crash thats going to happen from this point on is when btc-e gets shut down probably this year taking all alts with it

What are your points of contention regarding the problematic nature of BTC e, if any?    Are they NOT transparent enough?  Are they engaged in fractional banking?  What's going on?

no aml/kyc, they don't even ask for name when you sign up, thats where all the stolen btc ends up

[Walsoraj]

bid sum has increased to 15M on stamp.  Ask 17M.

Wally, how far do you think it has to increase before we get enough upwards momentum?

We might wake from hibernation when bid sum goes over 20M. MIGHT.

[D05GTO]

Yep, Fed's don't like when people trade USD without licensing.  BTC-e gonna get ripped soon or later.  Good news there is Atomic-Trade exchange.  It is new and low volume at them moment but is FINCEN Licensed here in the USA.  Pull BTC and start trading there if you don't want to lose your money.

[creekbore]

bid sum has increased to 15M on stamp.  Ask 17M.

Wally, how far do you think it has to increase before we get enough upwards momentum?

We might wake from hibernation when bid sum goes over 20M. MIGHT.

I suspect that is about right --- however, we've added a million to the bid sum in the last 24hours. 

Lets see if that trend continues.

[aminorex]

bid sum has increased to 15M on stamp.  Ask 17M.

Wally, how far do you think it has to increase before we get enough upwards momentum?

We might wake from hibernation when bid sum goes over 20M. MIGHT.

I suspect that is about right --- however, we've added a million to the bid sum in the last 24hours. 

Lets see if that trend continues.

pray tell, what do you mean by bid sum?

[creekbore]

bid sum has increased to 15M on stamp.  Ask 17M.

Wally, how far do you think it has to increase before we get enough upwards momentum?

We might wake from hibernation when bid sum goes over 20M. MIGHT.

I suspect that is about right --- however, we've added a million to the bid sum in the last 24hours. 

Lets see if that trend continues.

pray tell, what do you mean by bid sum?

https://www.cryptocoincharts.info/v2/pair/btc/usd/bitstamp/10-days

bottom of the page

[JayJuanGee]

the only flash crash thats going to happen from this point on is when btc-e gets shut down probably this year taking all alts with it

What are your points of contention regarding the problematic nature of BTC e, if any?    Are they NOT transparent enough?  Are they engaged in fractional banking?  What's going on?

no aml/kyc, they don't even ask for name when you sign up, thats where all the stolen btc ends up

I know that I have heard some anecdotal stories of people losing their BTC... on BTC e, also.  However, I question whether those are just made up or exaggerated stories.  I remember one guy had provided me a link to a story.. but in my view, the story did NOT pan out b/c the person was merely sending out negative stories before there was even an issue of a problem.   Surely, it is possible, and maybe I should withdraw some of my BTC from there.. I have about 15 BTC (about 40% of my holdings) on BTCe.

[adamstgBit]

Atlas Ceo on fox business
he said 1000s of signups yesterday

poeple need to be prepared to answer why its better then fiat.

the naysayers say things like "a currency has to be back by the full faith and credit of a government"

the appropriate response to that is

" bitcoin is backed by all the poeple who chose to use it...
it has value because it has specific properties that make it desirable

bitcoin is:
1. Scarce
2. Durable
3. Portable
4. Divisible
5. Impossible to counterfeit
6. Fungible ( any 1 BTC has the same value as any other )
7. Easy to keep safe ( contrary to popular belief, it easy to print out a paper wallet...)
8. Shiny ( yes the digital bits that make up a bitcoin are VERY shiny)
9. all of the above. + very shiny

Fiat is:
1. Definitely not  Scarce, ( mage inflation in the money supply is monumental )
2. Not Durable
3. NOT Portable... compare it to bitcoin, ( try sending 1 million dollars across the globe, try sending 10 cents. then try again but with bitcoin AHhhhh you starting to get it now eh )
5.  Impossible to counterfeit LMAO
6. Fungible... ya maybe...
7. Easy to keep safe? ya all it required is huge banks, and even then....  the only reason it works is the fact the government has no problem printing (out of thin air ITS MAGIC!) as much money as they need to be solvent any time they need it, you do know what a bailout is right?
8. Shiny? Its has cocaine allover it so no... not shiny

the only thing that fiat  has going for it is that its widely accepted, for now!
"

in short:

for #5 "Impossible to counterfeit"
does that even apply to fiat given the fact that it is, relatively easy to counterfeit, and in essence, counterfeited into existence?

Fiat Vs Bitcoin:

[JayJuanGee]

bid sum has increased to 15M on stamp.  Ask 17M.

Wally, how far do you think it has to increase before we get enough upwards momentum?

We might wake from hibernation when bid sum goes over 20M. MIGHT.

Yeah, but nobody really seems to care about those walls, until the trade volume starts picking up... and then the walls start to move closer to the trade price... the pent up demand sort of scenario...

[aminorex]

https://www.cryptocoincharts.info/v2/pair/btc/usd/bitstamp/10-days

bottom of the page

It is not consistent with bitcoinity.org.  Can anyone attest as to which is correct, on the basis of the bitstamp API?

[JorgeStolfi]

Welcome to Bitcoinia!

I swear that I read "Bitcoinica" 

[adamstgBit]

Welcome to Bitcoinia!

I swear that I read "Bitcoinica"  

http://www.youtube.com/watch?v=YV4oYkIeGJc

[creekbore]

https://www.cryptocoincharts.info/v2/pair/btc/usd/bitstamp/10-days

bottom of the page

It is not consistent with bitcoinity.org.  Can anyone attest as to which is correct, on the basis of the bitstamp API?

Other than the vague graph at the bottom of the bitcoinity pages, I can't find a bid sum?

Pray tell where it be.