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

[ChartBuddy]

Explanation

[sonofliberty]

What now?

[RandomPedestrianN9]

What now?

Volume. Average Joes are clearly killing each other over BTC.

[gentlemand]

You already came out with that corker.

[JayJuanGee]

It is interesting to observe the extremely diverse range of coexisting opinions on the price here. One group of posters will be absolutely confident that we are inevitably seeing $5000 by the summer, and the next group of posters will have lost all faith and not believe that it will even recover from this crash and hold value at all.

And you're part of which group?

Luckily, there is a middle ground.

I  doubt he's part of this one .

I frequently wonder about what purpose(s) is(are) served by misstating basic facts.  The description here is that people who participate in this thread are fanatics.. they believe one extreme or another - however, most people would self-describe as being reasonable to take into account information before deciding what to do.

That self-description is mostly true - even though some people will panic at various points.  My point is that we are NOT a bunch of extremists, here.  So that is spreading FUD.

[mmitech]

this is the lowest volume I've seen since I joined the Bitcoin community....

[gentlemand]

Looks like people are using their BTC for alt frenzies. Darkcoin has had higher volume on Mintpal alone.

[RandomPedestrianN9]

Looks like people are using their BTC for alt frenzies. Darkcoin has had higher volume on Mintpal alone.

What is Darkcoin? Does it offer more privacy than BTC, like not recording each transaction into blockchain? if so, I can see why this coin is prefered over BTC on the deep web.

[JayJuanGee]

Yes I was referring to btc price. If bulls don't seize opportunities when they arise, then surely price will go down. The good news doesn't seem to move the market, but I'm fairly sure that bad news will.

But the term "all the way" usually means 0 level.Do you really think we are going all the way down?
Might have to label you a permabear also .

No I'm not that bearish I have been bearish since I started trading bitcoin. Looking back I have not had many reasons not to be bearish

When did you start trading bitcoin?

And did you come to bitcoin b/c of its volatility?

[niothor]

Looks like people are using their BTC for alt frenzies. Darkcoin has had higher volume on Mintpal alone.

Higher volume than what?
As long as it's only traded against btc there , i doubt it can have "higher" volume.

[JorgeStolfi]

Volume. Average Joes are clearly killing each other over BTC.

A weird Korean (maybe Japanese?) movie I saw on cable:  A young doctor of traditional Chinese medicine lives holed up in his apartment caring for his beloved wife.  She is presently dead, but thanks to constant herbal baths and other treatments she has been in a stable condition for months, and the devoted husband is patiently waiting for her to recover.  (Which is only fair, since she did him the same favor some years before.) I don't know why I thought of that movie while looking at Huobi's charts.  

[JayJuanGee]

What are the 5 last things you paid for with BTC (without converting it to USD before the deal was done) and how long ago were these purchases made?

This is a good question, but could you clarify the bit about the conversion part?

do you mean that I personally had to convert to fiat? or that I used a bitpay like service and effectively I paid in bitcoin and the vendor received fiat?

cuz I've done tons of bitpay like purchases, where I don't have to convert shit.

but if you're talking about a transaction where I pay bitcoin directly to the vendor and the vendor actually accepts bitcoin and doesn't immediately convert to fiat?

I can only think of 2 scenarios where that has occurred.

- when I bought something from someone on this forum.
- when I tipped someone from this forum because they freely gave me advice or information that I directly profited from.

and that's about it/


*added a bit of ranting - viewer discretion is advised*

This is why I think that all this regulation talk is complete bullshit. They should first prove that they can effectively regulate their own failing currency before they go ahead and fuck up ours.

Shmadz:   You are changing the question.  All that matters is what you did.  If you bought with bitcoin, then you have accomplished an affirmative response to the question.  It does NOT matter what the receiver of your bitcoin did, and you may NOT even know what they did - whether they converted the BTC to fiat or NOT.

[JayJuanGee]

Looks like people are using their BTC for alt frenzies. Darkcoin has had higher volume on Mintpal alone.

Higher volume than what?
As long as it's only traded against btc there , i doubt it can have "higher" volume.

If the coinmarket cap is any indicator of volume, it appears that dark coin has achieved about half the volume of trading volume of BTC in the last 24 hours - even though the actual market cap of darkcoin is more than 200X smaller than BTC.  Does NOT mean that Darkcoin is more successful than BTC, just that there may be a lot of volatility with darkcoin, and money to be made.. and likely easier to manipulate prices by smaller players.

[niothor]

Looks like people are using their BTC for alt frenzies. Darkcoin has had higher volume on Mintpal alone.

Higher volume than what?
As long as it's only traded against btc there , i doubt it can have "higher" volume.

If the coinmarket cap is any indicator of volume, it appears that dark coin has achieved about half the volume of trading volume of BTC in the last 24 hours - even though the actual market cap of darkcoin is more than 200X smaller than BTC.  Does NOT mean that Darkcoin is more successful than BTC, just that there may be a lot of volatility with darkcoin, and money to be made.. and likely easier to manipulate prices by smaller players.

The volume of btc is calculated only from the usd/btc pair.
It doesn't include ltc/btc  , bc/btc

So , that indicator is not that accurate from my point of view.

[ChartBuddy]

Explanation

[RandomPedestrianN9]

What is causing these walls to move for a few seconds and then return to their previous state? Is it a bug in displaying the incoming data or?

[JayJuanGee]

Looks like people are using their BTC for alt frenzies. Darkcoin has had higher volume on Mintpal alone.

Higher volume than what?
As long as it's only traded against btc there , i doubt it can have "higher" volume.

If the coinmarket cap is any indicator of volume, it appears that dark coin has achieved about half the volume of trading volume of BTC in the last 24 hours - even though the actual market cap of darkcoin is more than 200X smaller than BTC.  Does NOT mean that Darkcoin is more successful than BTC, just that there may be a lot of volatility with darkcoin, and money to be made.. and likely easier to manipulate prices by smaller players.

The volume of btc is calculated only from the usd/btc pair.
It doesn't include ltc/btc  , bc/btc

So , that indicator is not that accurate from my point of view.

If true, that is a pretty big deal, especially with bitcoin b/c there are a lot of conversions going on with bitcoin. 

Also, if true, then similar inaccuracies are reflected in the other cryptos, too... even though bitcoin remains the most common conversion crypto.

Does anyone know about a better one-stop shopping spot to obtain the measurement for the totality of bitcoin volume?

[shmadz]

What are the 5 last things you paid for with BTC (without converting it to USD before the deal was done) and how long ago were these purchases made?

This is a good question, but could you clarify the bit about the conversion part?

do you mean that I personally had to convert to fiat? or that I used a bitpay like service and effectively I paid in bitcoin and the vendor received fiat?

cuz I've done tons of bitpay like purchases, where I don't have to convert shit.

but if you're talking about a transaction where I pay bitcoin directly to the vendor and the vendor actually accepts bitcoin and doesn't immediately convert to fiat?

I can only think of 2 scenarios where that has occurred.

- when I bought something from someone on this forum.
- when I tipped someone from this forum because they freely gave me advice or information that I directly profited from.

and that's about it/


*added a bit of ranting - viewer discretion is advised*

This is why I think that all this regulation talk is complete bullshit. They should first prove that they can effectively regulate their own failing currency before they go ahead and fuck up ours.

Shmadz:   You are changing the question.  All that matters is what you did.  If you bought with bitcoin, then you have accomplished an affirmative response to the question.  It does NOT matter what the receiver of your bitcoin did, and you may NOT even know what they did - whether they converted the BTC to fiat or NOT.

alright Jay, in that case my last 5 purchases were:
1- cointerra box - 3 months ago - (has already arrived only doing 1550 GH/s currently because one core likes to go to 120C and then reboot the machine, at 7 level it only reaches around 90 and the thing seems stable, I'm going to experiment this weekend what level it needs to be at to run from one single 15A 110V standard NA connection)

2- neptune - 6 months ago ( but now I get 2 for 1 apparently, someday, maybe, wheeee! but still nothing tangible has arrived)

3- some hookups to make power supplies run when they're not connected to computers - *I think it was from Cablez, but I can't remember, that was like a year ago

4- mostly donations to bitcointalk members like arepo and organofcorti

5- I bought a bunch of second-hand video games that I've never played from some online vendor that was operating back in 2012, they got at least 50 BTC of my business.

but this brings me back to my rant, there should be no push to regulate bitcoin itself - it is self-regulating. The only thing they should be looking at is the conversion into and out of the fiat that they have jurisdiction over.

more than that, it is almost impossible to perpetrate fraud inside of the bitcoin system. -- the exchanges between the currencies should probably be regulated, but I think the main point that regulators need to understand is that bitcoin network itself is self-regulating and needs no oversight (also they couldn't effectively regulate it if they tried, but that's another discussion)

[JorgeStolfi]

Does anyone know about a better one-stop shopping spot to obtain the measurement for the totality of bitcoin volume?

User @JorgeStolfi tried to do that for a while, but gave up some time ago, partly because he found that several large Chinese exchanges (perhaps 30% or more of the total) were not listed in any convenient source, not even in bitcoinwisdom.

[mwm4bcf]

Hello,

I've been reading (only) this thread for some time now and would like to pose a question for discussion:

Doesn't the current low volume conditions make this market a potential "easy target" for someone (or some entity) to manipulate it for profit?

Seems likely to me.

Thanks in advance for your thoughts on this.

Mark