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

[cbutters]

This China ban news is starting to get a bit old, is there a way to get things over with and be done with it?

I want more diverse bad news for the downtrend till around April.

Btw I have been wondering for a while, there seem to be a lot of people who are convinced that the Chinese just about own bitcoin, but what actual proof is there? The exchanges operate with zero fees and they have been caught sticking on extra zeros. Add to that that there are around 250k btc-addresses with more than 1 BTC worlwide, I don't see how that equals to millions of Chinese btc-holders.

I also think that most of the coins in china are offshore accounts trading there because of fee structure. just means volume will go down on huobi and btcchina and move to other exchanges. Mas exodus of BTC being bought to transfer to bitstamp, etc... Even if this news is confirmed it wont be as bad as everyone is thinking. Plus Hong Kong though part of china, is really almost outside mainland china's laws, and singapore, india, australia, africa etc... are coming online.

[KeyserSoze]

To the tune: Let It Snow!
[ ... ]
Let It Fall! Let It Fall! Let It Fall!

Ok, 13.27 of your sins are hereby forgiven.

Thanks for indulging me!
http://en.wikipedia.org/wiki/Indulgence

[lemonte]

What would be a good way to determine the number of market participants in bitcoin? Do the biggest exchanges for instance disclose the number of unique accounts?

Genuinely interested, what do people think will happen to the price in the next 3 months if the Chinese news is real?

[fonzie]

What would be a good way to determine the number of market participants in bitcoin? Do the biggest exchanges for instance disclose the number of unique accounts?

Genuinely interested, what do people think will happen to the price in the next 3 months if the Chinese news is real?

Honestly? Around 50-100$, if China would be out of the game completly.
8 Mio $ on a slovenian exchange is not enough to keep the price at these levels

[Pruden]

Just wanted to thank stan.distortion here for escrowing the bet.  
We didn't do any m-of-n stuff, so he was free to do with the funds as he wanted, but delivered as promised.  
So yes, there are some decent folk involved with bitcoin, it ain't all scams and hacks  .

Yep, kudos to you both, comrades.

[fonzie]

Huge dark buy order on Finex. Has already eaten a few hundred coins.@512.66$
-> Great chance to sell without slippage 

[mah87]

Huge dark buy order on Finex. Has already eaten a few hundred coins.@512.66$
-> Great chance to sell without slippage 

Bitcoin is crashing to 400$ this is obvious, whatever they said bitcoin is doomed to fail

[tailor]

SUCH TRAIN!!!!1

MUCH MOON...
COMING SOON!!!!1

Finally, some more the of high quality analysis we've learned to demand on these forums.

[boumalo]

Huge dark buy order on Finex. Has already eaten a few hundred coins.@512.66$
-> Great chance to sell without slippage 

Bitcoin is crashing to 400$ this is obvious, whatever they said bitcoin is doomed to fail

What are you doing here losing your time on something that you think will fail? Trying to aware us??

It is not sure Bitcoin will get a lion share in the financial sector or in international transactions but when it will the price will be 4 digits in 2014 USD and probably 5digits in nominal terms

Until then it may go down more

[roslinpl]

My predictions from yesterday were kinda not good as I see...

Instead of go up, price went down ... ~35$ ...

And no money to buy cheap coins! such sad.

[mah87]

put mah87 the ripple troll on ignore, like we all do

I know better trust me. Bitcoin will NOT survive. 2015 and 2016 are slow bitcoin agony while OTHER system will emerge.

[mah87]

My predictions from yesterday were kinda not good as I see...

Instead of go up, price went down ... ~35$ ...

And no money to buy cheap coins! such sad.

Now you are not in denial anymore, good bull. Other BULLS ARE NOT HERE?

[JorgeStolfi]

Genuinely interested, what do people think will happen to the price in the next 3 months if the Chinese news is real?

I believe that the two rallies in 2013 were caused by the opening of the Chinese market, which created huge demand for BTC and sucked coins out of the Western markets.  If the ban is real (I am not convinced yet) most of the coins in the Chinese exchange accounts may be moved to the non-Chinese exchanges.  So I think this may well happen:

The black line is an exponential fitted by eyeball in log scale to the Bitstamp prices before April 2013.

But I think this it is just a possibility, I would not bet on it.  It is hard to guess what the big holders and investors will do: whether they will buy all the Chinese bitcoins, or dump those they already have.

[ChartBuddy]

Explanation

[lemonte]

put mah87 the ripple troll on ignore, like we all do

Did months ago, in terms of troll skills she/he pales in comparison to Fonzie, he's my favourite!

[lemonte]

Genuinely interested, what do people think will happen to the price in the next 3 months if the Chinese news is real?

I believe that the two rallies in 2013 were caused by the opening of the Chinese market, which created huge demand for BTC and sucked coins out of the Western markets.  If the ban is real (I am not convinced yet) most of the coins in the Chinese exchange accounts may be moved to the non-Chinese exchanges.  So I think this may well happen:

The black line is an exponential fitted by eyeball in log scale to the Bitstamp prices before April 2013.

But I think this it is just a possibility, I would not bet on it.  It is hard to guess what the big holders and investors will do: whether they will buy all the Chinese bitcoins, or dump those they already have.

Thanks, I am holding either way, I've made 25 x what i initially invested so am pleased with that, but interested to hear what the plausible outcomes could be. People on Western exchanges would be mad not to buy up these cheap coins, but what do I know!?

[billyjoeallen]

So what if, just if, the PBOC announces tomorrow that the news is inaccurate? How much of a rebound? Wouldn't want to be short if that happened.

OTOH, if FUD is confirmed, it's just Fear and Doubt because the uncertainty is removed. Seems like more upside than down to me.

Oh, mighty Whale Gods, deliver us from margin calls.

[fonzie]

URGENT:

Price is about to sky rocket for the next 5 days.
Bitcoin will not be banned again in China until Monday!
CHoooo Choooo

[seleme]

You guys are strange while taking any kind of discussion about Bitcoin with Jorge. He never owed one, he says he never will, his "whateveritiscalled" Chinese and Bitstamp predictions are crap, all in all his views are worthless.

[adamstgBit]

Genuinely interested, what do people think will happen to the price in the next 3 months if the Chinese news is real?

I believe that the two rallies in 2013 were caused by the opening of the Chinese market, which created huge demand for BTC and sucked coins out of the Western markets.  If the ban is real (I am not convinced yet) most of the coins in the Chinese exchange accounts may be moved to the non-Chinese exchanges.  So I think this may well happen:

The black line is an exponential fitted by eyeball in log scale to the Bitstamp prices before April 2013.

But I think this it is just a possibility, I would not bet on it.  It is hard to guess what the big holders and investors will do: whether they will buy all the Chinese bitcoins, or dump those they already have.

Thanks, I am holding either way, I've made 25 x what i initially invested so am pleased with that, but interested to hear what the plausible outcomes could be. People on Western exchanges would be mad not to buy up these cheap coins, but what do I know!?

Jorge thats brokers

buy a bitcoin!