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

[derpinheimer]

Breaking News:

If no one buys we won´t go up  

If no one sells, we won't go down.

I have to think about that, but there might be some truth in it.
For now, Chona started dumpin a little bit. We´ll see how low this will go.

3600B mined a day. Selling wont stop.

[creekbore]

Mornin' all!!

Can't really be arsed reading back through 20 odd pages but I think I get the idea from the last couple: cultists have their fingers in their ears, Chessnut clinging to EW for comfort while TERA is a lone voice of reason along with...Fonzie.  Strange days indeed 

Hey Fonzie...where in Asia are you at present?

Right now i´m in Malaysia-Kuala Lumpur, preparin for my flight back home on Sunday. I had awesome weeks , i have visited Malaysia, Cambodia, Vietnam, Indonesia and New Guinea.
23 flights in 6 weeks 

Good for you.  Safe travels.

[boumalo]

Breaking News:

If no one buys we won´t go up  

If no one sells, we won't go down.

I have to think about that, but there might be some truth in it.
For now, Chona started dumpin a little bit. We´ll see how low this will go.

3600B mined a day. Selling wont stop.

3600B mined doesn't mean 3600B on the market to sell and how much fiat is coming to the exchanges from people who want to buy&hold?

[gentlemand]

I would guess that a lot of mined coins are being sold straight to people like SecondMarket.

[klopper]

Choochoo?

[adamstgBit]

Breaking News:

If no one buys we won´t go up  

If no one sells, we won't go down.

I have to think about that, but there might be some truth in it.
For now, Chona started dumpin a little bit. We´ll see how low this will go.

3600B mined a day. Selling wont stop.

3600B mined doesn't mean 3600B on the market to sell and how much fiat is coming to the exchanges from people who want to buy&hold?

most miners are mining for bitcoin not fiat.

[billyjoeallen]

You're missing the point. Sometimes the story is wrong, even if it's a major news source, even if other news sources regurgitate it.

Yes of course it is; I don't know what will be the extend of the ban in China but I doubt Newsweek know more than a Chinese newspaper

Newsweek broke the story that Dorian Nakamoto is Satoshi. I was using it as an example of a respected news source running with a half-baked theory and calling it Gospel. Is English not your first language? I was not disparaging Asia or China.

[jonoiv]

Breaking News:

If no one buys we won´t go up  

If no one sells, we won't go down.

I have to think about that, but there might be some truth in it.
For now, Chona started dumpin a little bit. We´ll see how low this will go.

3600B mined a day. Selling wont stop.

3600B mined doesn't mean 3600B on the market to sell and how much fiat is coming to the exchanges from people who want to buy&hold?

most miners are mining for bitcoin not fiat.

do you have a source?

[JorgeStolfi]

I would guess that a lot of mined coins are being sold straight to people like SecondMarket.

SecondMarket's Bitcoin Investment Trust (BIT) does not seem to be a large buyer.  According to this thread it has now almost 100,000 bitcoins, including a "seed investment" of about 18,000 BTC.  About 53,000 were bought in 2013; ~4000 in January 2014, ~10,000 in February, ~13,000 in March.

They had promised "liquidity will start no later than March 2014", now changed to "in April 2014, on a limited basis".   Their nominal share value is tied to the price of bitcoin; AFAIK, that is what they will pay to investors who chose and can liquidate.  Thus they could make a good profit they were lucky to sell coins before this crash, and the crash lasts until clients liquidate.

[adamstgBit]

Breaking News:

If no one buys we won´t go up  

If no one sells, we won't go down.

I have to think about that, but there might be some truth in it.
For now, Chona started dumpin a little bit. We´ll see how low this will go.

3600B mined a day. Selling wont stop.

3600B mined doesn't mean 3600B on the market to sell and how much fiat is coming to the exchanges from people who want to buy&hold?

most miners are mining for bitcoin not fiat.

do you have a source?

ya me.

[fonzie]

What puzzles me is that a round number like 500$ isn´t used a strong point for either support or resistance.
We often have seen huge walls on such important points, like the 1000$ resistance or the 400$ support.
And 500 for sure is a pretty number. Everyone placed bids @666 for days/weeks but no one uses 500 i´m a bit dissapointed.



Edit. I consider that as a bearish sign  

[JayJuanGee]

we enter into the fifth month of constant decline in prices,
Check Trend line from decembar 2013 year !

Trend and price before 1 month:


Trend and price today:


See you again within a month with trend lines and current price.

These are the kinds of trend-lines and bare assertion claims that i find problematic b/c the starting point is the ATH... It makes little to no sense to be to start from the ATH in order to make what point?  It may make a point about a current situation that is occurring, but it does NOT make any meaningful point about the overall health and/or value of bitcoin.... In my view focusing on that time period, remains just out of context and a form of limited information.

[JayJuanGee]

Wow, reading Rui Ma's interview, I am very impressed with the vigor of the bitcoin startup community in China.  They are going to add an enormous amount of value to the BTC economy, on a very accellerated schedule.  They seem to have a huge advantage over U.S. entrepreneurs in this space.

I admit I have rather resented the rumors and the IP issues, the scams and the mining competition coming out of China, but they are also building out infrastructure with a seriously ambitious vision, and substantial funding.

the chinese are doing this in a lot of areas.. including investing in gold and investing in high speed trains and that is another reason we have to take with a grain of salt these claims that chinese dont like bitcoin... they love it... and they want to move away from the dollar as their investment vehicle...

[billyjoeallen]

blah blah blah.

These are the kinds of trend-lines and bare assertion claims that i find problematic b/c the starting point is the ATH... It makes little to no sense to be to start from the ATH in order to make what point?  It may make a point about a current situation that is occurring, but it does NOT make any meaningful point about the overall health and/or value of bitcoin.... In my view focusing on that time period, remains just out of context and a form of limited information.

Extrapolating that trend line, BTC should trade for -3$ by mid July. Yes, that's right. People will pay you to take bitcoins off their hands.

[JorgeStolfi]

What puzzles me is that a round number like 500$ isn´t used a strong point for either support or resistance.

Humans like round numbers; algorithms don't care for them.   As trading becomes more robotized, those round numbers should lose their "power".

Also, arbitrage between different currencies (euros, yuan, LTC...) will turn round number barriers in one exchange into non-round barriers in another.

Also, I suppose that even a human trader may use non-round prices to get ahead of other traders' round orders.  And he may spread a large order into many small orders, a few dollars apart, to prevent others from doing the same to him.

[ChartBuddy]

Explanation

[JayJuanGee]

"cheap coins" - another cultist term

Imagine you were selling bitcoin futures contracts. What would someone have to pay you now in return for your bitcoin a year from now?

These coins are going up and you know it. You just don't know how much they're going to go down first.

No, I dont know that. And clearly most of society disagrees as well.

Wasn't addressing you, Sir. I don't know what you know and don't care.

The term "most of society disagrees as well"  means almost nothing in this context.... ... so speaking about NOTHING...  .. jibber jabber... at best

[JayJuanGee]

Mornin' all!!

Can't really be arsed reading back through 20 odd pages but I think I get the idea from the last couple: cultists have their fingers in their ears, Chessnut clinging to EW for comfort while TERA is a lone voice of reason along with...Fonzie.  Strange days indeed  

Hey Fonzie...where in Asia are you at present?

Right now i´m in Malaysia-Kuala Lumpur, preparin for my flight back home on Sunday. I had awesome weeks , i have visited Malaysia, Cambodia, Vietnam, Indonesia and New Guinea.
23 flights in 6 weeks  

Why aren't you out meeting girls, rather than trolling the BTC threads?

[fonzie]

Does anyone has a explanation why we did have a 15-25$ spread between the western and the asian exchanges in the last 2-3 weeks?
Haven´t we been mostly equal before?

[fonzie]

Mornin' all!!

Can't really be arsed reading back through 20 odd pages but I think I get the idea from the last couple: cultists have their fingers in their ears, Chessnut clinging to EW for comfort while TERA is a lone voice of reason along with...Fonzie.  Strange days indeed  

Hey Fonzie...where in Asia are you at present?

Right now i´m in Malaysia-Kuala Lumpur, preparin for my flight back home on Sunday. I had awesome weeks , i have visited Malaysia, Cambodia, Vietnam, Indonesia and New Guinea.
23 flights in 6 weeks  

Why aren't you out meeting girls, rather than trolling the BTC threads?

My girlfriend is with me, this would have been complicated.