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

[Wary]

there is no contradiction between investing to see BTC succeed *and* see a decent ROI.

If this country worth saving, it's worth saving for a profit (c)

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[billyjoeallen]

The buy walls are building, but we still can only absorb ~ 0.1 percent of all Bitcoins in existence (12K BTC) before the plummet to $266.  Hypothetically that one guy on Bitfinex who flashed the 15K sell wall could do it by himself. He almost certainly won't, but when China goes dark, we'll find out if this is like April of last year or like June of 2011.

Is this what you're referring to? I saw 1500 BTC walls being flashed around on Bitfinex last night....but not 15K?

pics or it didnt happen!  

edit: 1K BTC got pulled and the 500 wall was eaten

It was over a week ago. I don't have pics.  So I guess he could have sold it by now a little at a time. My point is that there are are people with massive holdings who could profit by crashing the price to buy back cheaper. The easiest  way to get bitcoin is to already have a bunch and take advantage of a vulnerable market the way George Soros made a billion dollars in one day shorting the British Pound. There are sharks out there waiting for the signal from China to eat us alive. The question isn't up or down. The question is how much lower. 

If I was an evil billionaire (possibly redundant term), I would buy hundreds of thousands of bitcoin off exchange from miners and flood the market, keeping prices low for months while I bought more coins from miners at the new lower price. People keep pointing out that fiat is infinite and bitcoin isn't. Rich guys can use time as a weapon against us. They can wait us out.

[chessnut]

Yup sentiment of those who aren't immersed in Bitcoin culture is very positive...My mom, brother and some other friends are all buying their first bitcoins this week despite me being on the fence about the direction of the price

my family is positive too (because of the money I made) but everyone else I know thinks its broken and used for child porn.

[bamsbamx]

BUY BUY BUY !!!! 

Thanks! Give me some money so I can do what you told me!

hehe You say buy - I say make it possible ;P spare 1000$ for me ?

Kiddin.

But Thanks for suggestions. We all know this is great time to buy some

Yes, i bought just at the bottom of the little dump we have had today @ 449 $

I hope chinese dont make it go down (again)  

[fonzie]

SOOOOOOOOOOOOOOOON

Ready- Set - Sellll

[hdbuck]

BITSTAMP IS DOWN.

SELL SELL SELL YOU IDIOTS!11!!

No. But I am sure some actually will.


EDIT

Up again. Never mind. You sodl for shit.

lmao
i can definitely see the pattern here

[ChartBuddy]

Explanation

[aminorex]

my family is positive too (because of the money I made) but everyone else I know thinks its broken and used for child porn.

I have heard the news, and wish to extend my condolences, that your family has tested BTC-positive.

[billyjoeallen]

In 2011 when bitcoin crashed from $32 down to $10, I though it was an excellent time to buy. Then it went down to $2 and didn't come back up for months. I held on, but I had to move back in with my parents to do so. in my 40s. You guys think something like that can't happen now and I don't think it will, but it absolutely very well could happen.

There were a lot less bitcoins mined back then, and Satoshi's stash was a bigger proportion of them. Bitcoin hasn't just gotten the attention of angel investors. It has gotten the attention of sharks as well, and I'm not even talking about hackers. Wall Street types don't want to pay retail. They want distressed sellers and they have the ability to make us exactly that.

[JayJuanGee]

The buy walls are building, but we still can only absorb ~ 0.1 percent of all Bitcoins in existence (12K BTC) before the plummet to $266.  Hypothetically that one guy on Bitfinex who flashed the 15K sell wall could do it by himself. He almost certainly won't, but when China goes dark, we'll find out if this is like April of last year or like June of 2011.

Is this what you're referring to? I saw 1500 BTC walls being flashed around on Bitfinex last night....but not 15K?

pics or it didnt happen!  

edit: 1K BTC got pulled and the 500 wall was eaten

It was over a week ago. I don't have pics.  So I guess he could have sold it by now a little at a time. My point is that there are are people with massive holdings who could profit by crashing the price to buy back cheaper. The easiest  way to get bitcoin is to already have a bunch and take advantage of a vulnerable market the way George Soros made a billion dollars in one day shorting the British Pound. There are sharks out there waiting for the signal from China to eat us alive. The question isn't up or down. The question is how much lower. 

If I was an evil billionaire (possibly redundant term), I would buy hundreds of thousands of bitcoin off exchange from miners and flood the market, keeping prices low for months while I bought more coins from miners at the new lower price. People keep pointing out that fiat is infinite and bitcoin isn't. Rich guys can use time as a weapon against us. They can wait us out.

I hate to agree with you BJA regarding your underlying facts, but that is very close to the same theory that I had described regarding what is likely to be going on behind the scenes. 

I do NOT necessarily share your doom and gloom scenario that they are going to be able to keep it up - but it is possible that prices could be depressed for several months... I am NOT so confident on such a continued downward trend as to sell, though.

[rocks]

It was over a week ago. I don't have pics.  So I guess he could have sold it by now a little at a time. My point is that there are are people with massive holdings who could profit by crashing the price to buy back cheaper. The easiest  way to get bitcoin is to already have a bunch and take advantage of a vulnerable market the way George Soros made a billion dollars in one day shorting the British Pound. There are sharks out there waiting for the signal from China to eat us alive. The question isn't up or down. The question is how much lower. 

If I was an evil billionaire (possibly redundant term), I would buy hundreds of thousands of bitcoin off exchange from miners and flood the market, keeping prices low for months while I bought more coins from miners at the new lower price. People keep pointing out that fiat is infinite and bitcoin isn't. Rich guys can use time as a weapon against us. They can wait us out.

+1 A lot of what you say is very true.

This is why it is important to only invest what you are willing to lose and very importantly not depend on selling bitcoin to maintain your livelihood. If you rely on bitcoin monthly sales for food/rent or have so much invested that you "can't lose", then the large players will definitely eat you alive.

But if you only invest what you can walk away from, and don't need to sell BTC for any reason, then any attack by the big players is meaningless. You can just sit back and wait and wait and wait. And if the price goes stupid low, buy more. That's how to win the game.

[Davyd05]

let the next 6-12 hrs define us then .. Tuesday for china will have begun : D

[jonoiv]

These guys have done some TA and are buying today.

[p0peji]

I think current dump strategy is to bore everyone to sleep with no volume and then out of nowhere dump.

[thefunkybits]

These guys have done some TA and are buying today.

Yeah these guys...

[podyx]

These guys have done some TA and are buying today.

Yeah these guys...

Is this real??
Why would he ask though?
sounds like a pump imo

[thefunkybits]

Is this real??
Why would he ask though?
sounds like a pump imo

If you know Jeff Berwick he is a multi-millionaire bitcoin fan. I'm assuming this isn't for him but he's looking for a contact of his. He often reaches out to facebook when he needs business related help

[podyx]

Is this real??
Why would he ask though?
sounds like a pump imo

If you know Jeff Berwick he is a multi-millionaire bitcoin fan. I'm assuming this isn't for him but he's looking for a contact of his. He often reaches out to facebook when he needs business related help

I know him, i've listened to some of his interviews

Just seems weird that he would look for an exchange or whatever. I would assume he already knows where to buy bitcoin

[edwardspitz]

BTC-E bot is at it again I think 

[jonoiv]

BTCE are not letting me cash out ! 





I wrote to their support.

"Please remove withdrawal restrictions on my account."


and got this reply!

"Hello, it's actually difficult to understand what's the problem. Tell me please what's your question? "