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

[roslinpl]

I can see the price is really waiting to skyrocket
It is just launching .. we need to spark a matches

[Biro Bob]

BTC-e has just added GBP but only via OKpay as far as I can see

[seleme]

Now, they just need to add XPM/USD and I'll be fine, very fine  

BTW, GBP is good idea, there's no taxes at bitcoin trading in Britain, that might bring more people to BTC-e. Their admins are pretty smart guys.

[ChartBuddy]

Explanation

[dreamspark]

Now, they just need to add XPM/USD and I'll be fine, very fine  

BTW, GBP is good idea, there's no taxes at bitcoin trading in Britain, that might bring more people to BTC-e. Their admins are pretty smart guys.

Maybe but in general theyre shady to deal with and I wouldn't use it for any significant amounts of any currency or coin.

[boumalo]

Now, they just need to add XPM/USD and I'll be fine, very fine 

BTW, GBP is good idea, there's no taxes at bitcoin trading in Britain, that might bring more people to BTC-e. Their admins are pretty smart guys.

Maybe but in general theyre shady to deal with and I wouldn't use it for any significant amounts of any currency or coin.

They are more expensive than bitstamp for some reason
We rebounded at 480$ but is this an other small rebound before we test the lows again

[ejinte]

BTC-e has just added GBP but only via OKpay as far as I can see

So Chinese people can still buy GPB at btc-e to trade cryptocoins using OKpay? Correct? As I understand bitcoin is not illegal in China. If it were to be it would just be the government shooting them self in the foot since they will be used anyway, at least on the black market.

[fonzie]

How do hodlers feel about the circumstance that any given minute a new brutal crash could appear due to the fact that Huobi or another major chinese exchange will announce CNY deposit/withdrawal blockade. Bullish?

IT AIN´T OVER TILL IT´S OVER!

[Zule]

How do hodlers feel about the circumstance that any given minute a new brutal crash could appear due to the fact that Huobi or another major chinese exchange will announce CNY deposit/withdrawal blockade. Bullish?

That would bring the price up actually for some time.

[andyatcrux]

 I still am trying to figure out what the big deal is for China. My first BTC was purchased by sending money to Virwox to buy Linden dollars to then buy BTC. Cost me 10% more than the market rate, but I found a way to get BTC. Now Coinbase is how I get BTC. In the United States it seems to be the most reliable and convenient way of getting fairly priced BTC and even then some banks like Chase bank have been known to freeze deposits. My point is, how can the Chinese government possibly stop the flow of BTC into China without preventing the CNY from moving around internationally and being exchanged for other currency. I realize that the cost to them may be a little higher but since the world seems to follow China that could oddly drive up prices bit by bit as CNY finds its way into BTC because the realized cost would always be more than present market price. I know, I just went down the deep end of speculation without a life vest.  

[fonzie]

I still am trying to figure out what the big deal is for China. My first BTC was purchased by sending money to Virwox to buy Linden dollars to then buy BTC. Cost me 10% more than the market rate, but I found a way to get BTC. Now Coinbase is how I get BTC. In the United States it seems to be the most reliable and convenient way of getting fairly priced BTC and even then some banks like Chase bank have been known to freeze deposits. My point is, how can the Chinese government possibly stop the flow of BTC into China without preventing the CNY from moving around internationally and being exchanged for other currency. I realize that the cost to them may be a little higher but since the world seems to follow China that could oddly drive up prices bit by bit as CNY finds its way into BTC because the realized cost would always be more than present market price. I know, I just went down the deep end of speculation without a life vest.  

[Zule]

They can hang your ass in chineese quarts too, if they suspect you for a bitcoiner.
Fuck this shit its not worth dying for.

[Morbid]

http://www.zerohedge.com/news/2014-04-01/monetary-blockade-russia-begins-jpmorgan-blocks-russian-money-transfer-under-pretext

whats stopping them using bitcoin then huh?

[ChartBuddy]

Explanation

[Walsoraj]

http://www.zerohedge.com/news/2014-04-01/monetary-blockade-russia-begins-jpmorgan-blocks-russian-money-transfer-under-pretext

whats stopping them using bitcoin then huh?

Common sense.

[KeyserSoze]

They can hang your ass in chineese quarts too...

*Almost* enough to get me to break out Photoshop to illustrate your point.

[Chalkbot]

They can hang your ass in chineese quarts too...

*Almost* enough to get me to break out Photoshop to illustrate your point.

lol, I had the same idea.

[billyjoeallen]

When Mt Gox was dying, the market slid for months. When they stopped accepting deposits (for the last time), the market crashed to $400 and immediately rebounded to $710.
The slide from $710 to $436 was because the eventual banning of BTC exchanges was being priced in. There was some confirmation of this with two small exchanges that took us from $486 back down to $440.  

Markets hate uncertainty more than they hate bad news. Bad news can be priced in. Uncertainty by it's very nature cannot.  What is certain is that when and if a final confirmation from the PBoC comes out or Chinese exchanges stop accepting deposits, the China Syndrome will be behind us and other factors will dominate price action.


The time to buy is when things are at their worst, when things can't get any worse. The irony is that Wall Street money will likely not come in until after we sell. If we never sell, it could take them months, years or eternity. Wall street doesn't want to share our success. They want to take our success from us. They're not angels. They are vultures. The only way to keep them out is to bootstrap another rally without them, have them buy in and we slowly and methodically take profits on the way up.  It would require a level of support at least twice as high as what's on our current order books.

The two external possibilities that can save us are an official denial by the PBoC of an imminent bitcoin ban or a influx of billionaire whale money. Both are very possible but unlikely.  As a community, the way we can save ourselves is for The Bottom to be defended on very high volume. Next dip below $550, buy like crazy and don't sell till you see $100 profit. That dip will come unless a whale intervenes. There will be no organic rally without another defense of the bottom.

Disclosure: I'm not talking my book here. I'm trapped in a leveraged long position and resigned to either sell at a profit or get wiped out in a margin call. I got screwed because I thought the PBoC would either confirm or deny the rumor by now. They claim to be concerned for the welfare of speculators and consumers and then keep us in the dark. I guess that's what we should expect from banksters.

[fonzie]

Until now chinese money is actually IN the game and holdin the market up, if this money is officially leavin the market it will not be comparable to the MtGox crash. MtGox took all the coins with them and decreased the ask supply. If China bans Bitcoin those coins will be for sale on western exchanges.

[adamstgBit]

Until now chinese money is actually IN the game and holdin the market up, if this money is officially leavin the market it will not be comparable to the MtGox crash. MtGox took all the coins with them and decreased the ask supply. If China bans Bitcoin those coins will be for sale on western exchanges.

but didnt you say chinese would get hung for using bitcoin?

why would they risk being hung for a few US dollars?