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

[edwardspitz]

Nice advice. As fast as you see some Chinese characters on this board or on tweeter , sell like it's the end of the world .

Yep, maybe even write a bot, like "IF=chingchong ACTION=SELL"

The other night BitcoinEverage.com was down (ddos'ed?) and at the same time there was dumping on the Chinese exchanges. I speculate that the bots might (also) align their trading to the average price and use that site.

Code:

IF BitcoinAverage = 404 do SELL

This is of course just me speculating, but I found that the dump was a little out of place.

[jonoiv]

I think the funny thing is that a big chunk of sellers are selling because "sheeps are selling, price will go down, so i will short as well". So everyone thinks that everyone else is an idiot and they are the smart ones who are just taking advantage of them.

Personally I think this comment is funnier. 

You have to love all these butthurt bears in denial

[ChartBuddy]

Explanation

[roslinpl]

I just saw price is going up a bit

Will we keep that movement till the end of a day?

I think so. Traders are becoming increasingly desensitized to China news, and all the PBOC stuff is priced in for now.

My prediction is that we'll end in the $520-$530 range today, and toward ~$555 tomorrow.

I was thinking about ~$700 till the end of a week but .. perhaps around ~%555 like you are saying it's more possible.

This time China news will not drop a price instead of this - price will rise

[magicmexican]

I think the funny thing is that a big chunk of sellers are selling because "sheeps are selling, price will go down, so i will short as well". So everyone thinks that everyone else is an idiot and they are the smart ones who are just taking advantage of them.

Personally I think this comment is funnier. 

You have to love all these butthurt bears in denial

Its even funnier if you sold @April 15

[jonoiv]

I think the funny thing is that a big chunk of sellers are selling because "sheeps are selling, price will go down, so i will short as well". So everyone thinks that everyone else is an idiot and they are the smart ones who are just taking advantage of them.

Personally I think this comment is funnier. 

You have to love all these butthurt bears in denial

Its even funnier if you sold @April 15

Sold my LTC @ $13.30 happy with that,  could have got more, but to me it was obvious it would turn soon.

[BTCtrader71]

And I am quite sure I know the reason for that. It is the extreme information asymmetry between Bitcoin owners and non-owners.

This is a great point. As I was trying to explain information asymmetry to a newbie as a rationale for a heavily bitcoin-weighted investment portfolio (as opposed to a more traditional diversified portfolio), it occurred to me that there are two implications. Assuming that I am a long-term bitcoin bull, a hodl'er, who follows the space very closely and understands the fundamentals very well (all of which I believe to be true):

1) I am in a very GOOD position to profit from long term price RISES due to continued favorable fundamentals. This is because I am competing against the bitcoin non-owners of the world who will eventually appreciate how great bitcoin is, but they will be very slow on the uptake.

2) I am in a BAD position, relatively speaking, to benefit from price FALLS secondary to unfavorable fundamentals. This is because I am competing against the bitcoin owners of the world who will be able to digest bad news extremely quickly.

In my mind, the greatest threat to bitcoin as an investment is if something significantly better comes along. I have been following "bitcoin 2.0" projects (Ethereum, sidechains, etc) very closely and so far, I have not seen anything so far that appears likely to replace bitcoin. Indeed, things like sidechains will only strengthen bitcoin's fundamentals. But suppose something better did come along, and caused the value to bitcoin to plummet. Would I anticipate it faster than the market? Maybe -- after all, I follow this space VERY closely -- but then again maybe not, according to my above reasoning.

Thoughts?

[keithers]

Just woke up, doesn't look like there was a late night rally. Hopefully we will have a strong day today

[roslinpl]

Just woke up, doesn't look like there was a late night rally. Hopefully we will have a strong day today

We will do not worry. In next 12h I predict a rally to the $~530!
 
So, eat your breakfast and have a sit and watch!

[Hen0xyd]

Adam (are you still here ?), if you don't got ideas for a new poll I suggest something like that :

"How many time bitcoin will be banned in China ?" answers may be 4, 5, 6, 7 and so on.
You could also formulate it as "How many times China's deadline will be pushed ?" since it's funny how "dead-line" is antinomic in this sentence

Note : I may have lost the count so I'm not sure about the '4' answer !

[FlyingLotus]

Adam (are you still here ?), if you don't got ideas for a new poll I suggest something like that :

"How many time bitcoin will be banned in China ?" answers may be 4, 5, 6, 7 and so on.
You could also formulate it as "How many times China's deadline will be pushed ?" since it's funny how "dead-line" is antinomic in this sentence

Note : I may have lost the count so I'm not sure about the '4' answer !

Last active 11-04-2014, 02:55:18 - time to start worrying?

[Cassius]

I think the funny thing is that a big chunk of sellers are selling because "sheeps are selling, price will go down, so i will short as well". So everyone thinks that everyone else is an idiot and they are the smart ones who are just taking advantage of them.

Keynsian beauty contest. Not just guessing how sheepy other people are, but how sheepy the sheep think other sheep are, ad infinitum.

[derpinheimer]

Bid/Ask sums on stamp becoming very bearish again after a short peak.

Im guessing if we dont see $550 soon we go back down.  (Still HODLING since $390)

[dreamspark]

Bid/Ask sums on stamp becoming very bearish again after a short peak.

Im guessing if we dont see $550 soon we go back down.  (Still HODLING since $390)

I have to say it doesnt feel like a very impressive bounce, just no momentum at all.

[aminorex]

it's funny how "dead-line" is antinomic in this sentence

did you mean antinomic, or antonymic?  if it was before the gulf of tonkin incident, it might be ante-namic.

[ChartBuddy]

Explanation

[niothor]

Adam (are you still here ?), if you don't got ideas for a new poll I suggest something like that :

"How many time bitcoin will be banned in China ?" answers may be 4, 5, 6, 7 and so on.
You could also formulate it as "How many times China's deadline will be pushed ?" since it's funny how "dead-line" is antinomic in this sentence

Note : I may have lost the count so I'm not sure about the '4' answer !

How about we do the poll with 40,50,60  give the people a chance to actually be right

[Davyd05]

not sure why the people weren't expecting those accounts from OKcoin or atleast Huobi to close.. they stated they would be closing certain accounts, not sure which totally but...yeah w/e 500 seems stronger than before but we shall see.

[uhoh]

Bitstamp banking holiday Fri & Mon for easter... Wouldn't expect too much movement

[jonoiv]

Adam (are you still here ?), if you don't got ideas for a new poll I suggest something like that :

"How many time bitcoin will be banned in China ?" answers may be 4, 5, 6, 7 and so on.
You could also formulate it as "How many times China's deadline will be pushed ?" since it's funny how "dead-line" is antinomic in this sentence

Note : I may have lost the count so I'm not sure about the '4' answer !

Last active 11-04-2014, 02:55:18 - time to start worrying?

He wrote on the thread hes not coming back until times are good again  PAGE 6085

I cant take it anymore

I have arranged to be cryogenically frozen.

they will though me out when bitcoin reaches 1,000,000$ or 2020 whichever comes first.

Its been fun guys.

see you in a few years, Hopefully sooner!