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

[JayJuanGee]

Who knows how it will unfold? At least I don't know!

However, these are my best guesses for the nearby future:
a) we are going to da moon -> it's lilkely we will see ~600$ in the next days
b) we are going to hang around at a certain price level (like in midsummer 2013) -> it's lilkely we will see this happen @ around ~600$ in the next days
c) we are going further down -> it's lilkely we will see ~600$ in the next days before we do so.

Yes, I asked you and you made your projection for the next few days... maybe you are correct, and maybe NOT. 

I do believe what you are saying to be fairly likely... and I am NOT sure I could put a percentage of probabilities on it except maybe to predict that in my thinking it seems to be more likely than NOT, at least by the end of the week... but also I do NOT know the future... ...and my life savings is NOT bet on that occurring.. and I would NOT lock myself into such a bet.  If $600-ish does NOT occur this week, then I am o.k. with that, and if $500 does NOT occur this week, I am o.k. with that, and if $100 occurs this week, I am o.k. with that too, but I would be disappointed with $100, if it were to occur.  Nonetheless, I have quite a bit of fiat into BTC, and I am likely NOT going to be selling any based on current news.. and likely NOT trading until we start to reach in the $700 plus territory (unless maybe just very small amounts here and there or larger amounts if the projected outcome seems to have a very high likelihood of taking place). 

[fcmatt]

lower lows and lower highs...

and people are rushing to buy? what is the rush to speculate on a falling virtual commodity? Has patience been totally tossed out of the window due to people using this forum or ones like it every 15 minutes?

[porcupine87]

Total bidsum just nudged 12 milion for the first time in weeks...

Yeah, I put my buy order in. I will buy 5Mio. btc at 0.001$. Thanks that at least one person appreciate this!

[JayJuanGee]

The gov didnt issue an official obligatory opinion, but even if it did it wouldnt write letters about it to all concerned so the statement from btcc is lame.
Something is going down, notice the changes some of the exchanges are introducing concerning cny.

Those kind of reactions from various exchanges to introduce CNY features may ALSO be based completely on the rumors and uncertainties rather than being based on any real insider knowledge.

[TwinWinNerD]

Total bidsum just nudged 12 milion for the first time in weeks...

Yeah, I put my buy order in. I will buy 5Mio. btc at 0.001$. Thanks that at least one person appreciate this!

With my 7 million btc @ 0.0000001USD we are the only ones at the bid side 

[JayJuanGee]

Time to give Kraken some love.

Are you trading there at the moment ?

What are your general thoughts and feelings?

Yes, since recently. Low volumes but growing slowly. Otherwise it's great. Lots of advanced order options.

Thanks, I may send some play money there to see if I get on with it then, I tried bitfinex recently but some of there features are very confusing.

In other news according to fiat leak the chinese are buying about 10x more BTC at the moment than the rest of the world.

A lot of people have raised questions about fiatleaks as a credible source... b/c the foundational information is questionable....  Additionally, it does NOT seem to reflect new money into BTC but instead exchange activity.  China's exchange activity has been high for at least a couple of reasons.  First in many instances there are NO exchange fees, and second there have been accusations and even admissions regarding fudging the numbers.

[Hypnoise]

http://www.zerohedge.com/news/2014-03-31/market-rigged-michael-lewis-explains-how-hfts-screw-investors-every-day

Might be of interest to those of you monitoring activity on chinese exchanges.

Thanks

yeah thanks

nice to have "" fair and unrigged markets "" but who will decide what is fair. Ok, obviously prohibit silly bots, prohibit from trading those, who are not at least 16 old. What else:  prohibit those who live in North Korea ect.

[ChartBuddy]

Explanation

[LMGTFY]

http://www.zerohedge.com/news/2014-03-31/market-rigged-michael-lewis-explains-how-hfts-screw-investors-every-day

Might be of interest to those of you monitoring activity on chinese exchanges.

Thanks

yeah thanks

nice to have "" fair and unrigged markets "" but who will decide what is fair. Ok, obviously prohibit silly bots, prohibit from trading those, who are not at least 16 old. What else:  prohibit those who live in North Korea ect.

When I think of markets being rigged 16 year old and North Korean traders aren't my biggest worry. Though I guess if the trader was a 16 year old member of the Politburo I'd worry more...

I'm not even 100% certain that I regard HFT as "unfair". At least with Bitcoin we have a chance to develop our own bots and the APIs are all open (and free, as far as I know).

But my biggest worry is "who will decide what is fair". It's regulation, and I'm instinctively opposed.

[JayJuanGee]

Some good news to China
https://btc-e.com/news/203

I understand that to mean: any Chinese citizens who can send their CNY offshore (which turns them into CNH) can now deposit them directly to BTC-e, without converting them to EUR or USD first.

That could be one option for Chinese citizens to put new money into the cryptocoin market.  However it seems to be limited to 50,000 CNY/year for most people, is that correct?

Chinese citizens who already have money in their Chinese exchange accounts would probably want to buy bitcoins there and export them to an account on BTC-e or any other exchange.

I suppose that the PBoC would not mind, quite the opposite, if Chinese citizens withdraw CNH from BTC-e and bring them back into the mainland?

If I see it your way, it means that the Chinese have a BTC/LTC-way to escape capital controls until April 15th.

Also 50000 CNY is almost 6 grand in € which is not much to some of us western middle class spoiled people but it is a lot to small Chinese worker class that is desperate for investing into stores of value that are not debased/stolen by their own government.

So if BTC-E provides them with a way to withdraw CNH, and if they can convert CNH to CNY easily, they could put some of their savings into crypto.

Can any Chinese citizen here please confirm that this is the case?

Yeah, but what is the profile of the average BTC chinese investor?  Maybe they are NOT regular chinese people.  We have to recall that probably less than 5% of chinese have heard about BTC and probably less than .1% have taken any steps towards purchasing any BTC and probably less than .01% have any significant BTC holdings of more than 10 BTC.  In other words we are referring to a subset of a subset of a group.

[JayJuanGee]

I hope the Bitcoin bullet train doesn't leave without me. I can't buy until tomorrow! Fingers crossed four a low price

By the way, todays the anniversary of me finding out about and subsequently using Bitcoin

Happy BTC anniversary... but the bad news could be that we will be at $540-ish by tomorrow? if the poll's outcome is a yes.... but people seem to be pretty divided about that outcome... so you still may have a chance... NEVER know.. ??

[podyx]

I hope the Bitcoin bullet train doesn't leave without me. I can't buy until tomorrow! Fingers crossed four a low price

By the way, todays the anniversary of me finding out about and subsequently using Bitcoin

Happy BTC anniversary... but the bad news could be that we will be at $540-ish by tomorrow? if the poll's outcome is a yes.... but people seem to be pretty divided about that outcome... so you still may have a chance... NEVER know.. ??

I don't think we are going anywhere yet

[JayJuanGee]

Total bidsum just nudged 12 milion for the first time in weeks...

Yeah, I put my buy order in. I will buy 5Mio. btc at 0.001$. Thanks that at least one person appreciate this!

People who talk like you are NOT investors, and you are NOT buying at any price, so the question becomes:  "what are you doing in this thread?"  You are clearly out of sync with the vast vast majority of others here, who are looking to buy and sell, no?

[LOADING.READY.RUN]

Total bidsum just nudged 12 milion for the first time in weeks...

Yeah, I put my buy order in. I will buy 5Mio. btc at 0.001$. Thanks that at least one person appreciate this!

People who talk like you are NOT investors, and you are NOT buying at any price, so the question becomes:  "what are you doing in this thread?"  You are clearly out of sync with the vast vast majority of others here, who are looking to buy and sell, no?

I think he has a point: dreamspark quotes the bid/ask ratio as a ratio of BTC : BTC. porcupoine87 demonstrates that this way of putting the bid/ask ratio is pointless, because it can easily be manipulated.

@dreamspark: I suggest using a USD/BTC ratio for the bid/ask sum because this way it's independent of this kind of manipulation.

[Xell]

Also 50000 CNY is almost 6 grand in € which is not much to some of us western middle class spoiled people but it is a lot to small Chinese worker class that is desperate for investing into stores of value that are not debased/stolen by their own government.

It's not the Chinese working class who are buying BItcoin. Its the Chinese rich (maybe with questionable sources) who have much more money than the European middle class. Hence why the biggest property owners in cities like London are.... Chinese private investors. You're living in the dark ages. Chinese people have money and they want to burn it. Many have a LOT of money to burn.

See all the visa schemes aimed at Chinese, where they can buy a passport for places like Australia or Canada if they can spare maybe a few hundred thousand dollars? Yeh, they're over-run and Canada had to decline everyone because so many Chinese have that much cash sitting around. It's totally absurd to even mention the Chinese workers.

I always thought it was the Russian mob that owned most of the expensive properties in London, not Chinese investors.

Well, I meant London property portfolio of highest value rather than highest individual asset in the portfolio. I know RBoK&C is packed with Russians, but SCMP reports the two individuals who own the most (by £) in London are now Chinese (they knocked some Duke or something off #1). In any case they have too much money and don't know what to do with it. They come to Hongkong to buy high street gold jewelry as an investment..

[derpinheimer]

The train is coming

[JayJuanGee]

Total bidsum just nudged 12 milion for the first time in weeks...

Yeah, I put my buy order in. I will buy 5Mio. btc at 0.001$. Thanks that at least one person appreciate this!

People who talk like you are NOT investors, and you are NOT buying at any price, so the question becomes:  "what are you doing in this thread?"  You are clearly out of sync with the vast vast majority of others here, who are looking to buy and sell, no?

I think he has a point: dreamspark quotes the bid/ask ratio as a ratio of BTC : BTC. porcupoine87 demonstrates that this way of putting the bid/ask ratio is pointless, because it can easily be manipulated.

@dreamspark: I suggest using a USD/BTC ratio for the bid/ask sum because this way it's independent of this kind of manipulation.

Thanks for pointing that out.

 Certainly, i misread what was being proposed by porcupine87..... and even when i read through the post, NOW, I do NOT understand the significance, exactly, except to recognize that I misunderstood what was being proposed... I had understood that porcupine87 was planning to buy when BTC reached $.001, which is clearly NO way even approaching what was being communicated. 

My apologies to porcupine87 or anyone else who may have been bothered by my reaction.

[podyx]

http://cryptocrimson.com/2014/03/pboc-official-slams-bitcoin-microblog-account/

"On Saturday, Zhang, retraced his statements, saying that he is nothing but an spectator in regards to the matter and that his opinions are not necessarily the same as those of the PBOC. Perhaps even more interesting, his latest post on the microblogging site reads, “”Definitely going to get told off on Monday."

this was an PBOC offical who critisized bitcoin, can anyone tell me what this mean?

[Cheeseonastick]

Choo Choo


https://i.imgur.com/8vAr3UX.jpg?1


Motherfucker

[aminorex]

lower lows and lower highs...

and people are rushing to buy? what is the rush to speculate on a falling virtual commodity? Has patience been totally tossed out of the window due to people using this forum or ones like it every 15 minutes?

The world does not consist entirely of price speculators.  Some people need bitcoin to fulfill a function.  Others are cost-averaging an investment.