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

[lemonte]

Are we in the midst of a pump and dump? Considering the lack of volume one wouldn't think so but with the price having been slightly increasing since about 20:00 EST last night until now I'm wondering if a dump is in our near future?

Wild guess: mild interest from Bitcoin 2014 conference in Amsterdam (which so far has not made any big news at all). And maybe some demoing of ATMs going on over there.

Doesn't start until tomorrow: http://bitcoin2014.com

[kehtolo]

Are we in the midst of a pump and dump? Considering the lack of volume one wouldn't think so but with the price having been slightly increasing since about 20:00 EST last night until now I'm wondering if a dump is in our near future?

Wild guess: mild interest from Bitcoin 2014 conference in Amsterdam (which so far has not made any big news at all). And maybe some demoing of ATMs going on over there.

Begins Tomorrow!?

[dreamspark]

Are we in the midst of a pump and dump? Considering the lack of volume one wouldn't think so but with the price having been slightly increasing since about 20:00 EST last night until now I'm wondering if a dump is in our near future?

Why is every move met with "pump and dump" Its risen close to $10.

But for future reference a period of low volume is a good time for a pump.

[rpietila]

Are we in the midst of a pump and dump? Considering the lack of volume one wouldn't think so but with the price having been slightly increasing since about 20:00 EST last night until now I'm wondering if a dump is in our near future?

Stop seeing pump and dumps with every 10$ price move .

10 dollars is like 2%, right.

Was analyzing Mt.Gox price data from 2010. There were some mighty pumps and dumps. 20-30kBTC volume in 5 minutes. Price swinging by 5-20%. Then when you look more carefully, the USD volume is <10k$. It was nothing more than somebody's fiat just cleared.   

Buying and selling BTC1k now is very probably just normal balancing of portfolio for a merchant or exchanger, or investor.

[JorgeStolfi]

Are we in the midst of a pump and dump? Considering the lack of volume one wouldn't think so but with the price having been slightly increasing since about 20:00 EST last night until now I'm wondering if a dump is in our near future?

At Huobi the price went up in 4 separate spurts, but has been falling gradually between the spurts.  Is that how the "pump" part of pump-and-dump looks like?

[ChartBuddy]

Explanation

[niothor]

Are we in the midst of a pump and dump? Considering the lack of volume one wouldn't think so but with the price having been slightly increasing since about 20:00 EST last night until now I'm wondering if a dump is in our near future?

Stop seeing pump and dumps with every 10$ price move .

10 dollars is like 2%, right.

Was analyzing Mt.Gox price data from 2010. There were some mighty pumps and dumps. 20-30kBTC volume in 5 minutes. Price swinging by 5-20%. Then when you look more carefully, the USD volume is <10k$. It was nothing more than somebody's fiat just cleared.  

Buying and selling BTC1k now is very probably just normal balancing of portfolio for a merchant or exchanger, or investor.

I agree that this small change in price is nothing.
And if I look at the graph...it's not even a 10$ price change , if you exclude the dip yesterday.

[ChartBuddy]

Explanation

[akujin]

 

[ChartBuddy]

Explanation

[Richy_T]

Is it not obvious that without FRESH FIAT (I think I am going to change my user name to this) that these markets cannot go up? And there is no way for fresh fiat to reach the Chinese exchanges.

"Can not"? No. "Will not"? Probably.

[oda.krell]

It bothers me that this recent 'no action at all' phase bothers me so much.

I really think I just shouldn't care, take a break maybe, made more than enough profit in the past months after all, and isn't this what the LT investors always hope for, stability? Yeah, that's what I should feel...

In reality of course it's driving me crazy. "Make up your mind already, market!", he said, angrily glaring at btcwisdom.

[ChrisML]

OMG OMG OMG.

$443. TO DA MOON?!! 

Keep on hodling peepl!

[zoinky]

It bothers me that this recent 'no action at all' phase bothers me so much.

I really think I just shouldn't care, take a break maybe, made more than enough profit in the past months after all, and isn't this what the LT investors always hope for, stability? Yeah, that's what I should feel...

In reality of course it's driving me crazy. "Make up your mind already, market!", he said, angrily glaring at btcwisdom.

It's made up its mind

[ChartBuddy]

Explanation

[spooderman]

Just interested whether anyone can point me to a remotely similar situation - perhaps a commodity that is heavily controlled in some countries but traded freely in others - so that some understanding of the implications for the global market may be understood.

Gold was forbidden to own in the United States between 1933 and 1974, punishable by $10,000 fine and/or 10 years imprisonment.

Meanwhile in the free world, the price went up from $20 to $195 during that period.

Background.

This is potentially the most relevant thing to think about that anyone has posted here for a while.

[oda.krell]

It bothers me that this recent 'no action at all' phase bothers me so much.

I really think I just shouldn't care, take a break maybe, made more than enough profit in the past months after all, and isn't this what the LT investors always hope for, stability? Yeah, that's what I should feel...

In reality of course it's driving me crazy. "Make up your mind already, market!", he said, angrily glaring at btcwisdom.

It's made up its mind

Hardly.

Getting to 420, or 460, doesn't matter which... that'd be interesting.

Until then: - - - ` - - _ - - `- _ - `- - -

(that's some brilliant ASCII art, huh?)

[oda.krell]

Just interested whether anyone can point me to a remotely similar situation - perhaps a commodity that is heavily controlled in some countries but traded freely in others - so that some understanding of the implications for the global market may be understood.

Gold was forbidden to own in the United States between 1933 and 1974, punishable by $10,000 fine and/or 10 years imprisonment.

Meanwhile in the free world, the price went up from $20 to $195 during that period.

Background.

This is potentially the most relevant thing to think about that anyone has posted here for a while.

War, invasion and national emergency

When dollars were fully convertible into gold via the gold standard, both were regarded as money. However, most people preferred to carry around paper banknotes rather than the somewhat heavier and less divisible gold coins. If people feared their bank would fail, a bank run might result. This happened in the USA during the Great Depression of the 1930s, leading President Roosevelt to impose a national emergency and issue Executive Order 6102 outlawing the "hoarding" of gold by US citizens. There was only one prosecution under the order, and in that case the order was ruled invalid by federal judge John M. Woolsey, on the technical grounds that the order was signed by the President, not the Secretary of the Treasury as required.[43]

WP article "Gold as an investment"


EDIT: More here: http://en.wikipedia.org/wiki/Executive_Order_6102

Interesting article. Looks like gold was in fact confiscated in several cases, but I can only find one mention of penalization, and the article mentions "Most citizens who owned large amounts of gold had it transferred to countries such as Switzerland.[citation needed]".

Fun topic, but not really quite the same as the often feared "outlawing of BTC by all countries".

[T.Stuart]

Fun topic, but not really quite the same as the often feared "outlawing of BTC by all countries".

Nothing really quite the same as BTC full stop!

We are all diving joyfully into the unknown. 

[kireinaha]

rally mode: on