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

[oda.krell]

We're retracing through this dip at a remarkable speed.

Yep, plus wasn't someone harking on about how this isn't a real breakout until we see increasing volume through old trendlines?

Something like this ?!



Look at that sweet 1w MACD powering towards the green as well.

Volume looking better by the day, true. But let's not get cocky before we get to the daily SMA200 (conveniently depicted in your chart, unless I'm mistaken )

[dreamspark]

Volume looking better by the day, true. But let's not get cocky before we get to the daily SMA200 (conveniently depicted in your chart, unless I'm mistaken )

Far from cocky, I fully expect a deep retrace at some point, not convinced a dip to $550 for an hour quite counts. Just pointing out some pluses

[Arghhh]

Isn't it fishy that the moment the market approaches 600... BitFinex conveniently experience a database failure, causing panic and margin traders to close their position?

The house always wins.

Sorry i ahve to agree ..there was 2 shakings of the tree and finally after it had been thinned out the big dump

Clear out all margined longs ...does not go below 550 so as to not scare everbody too much & now back to the same ~570 and climbing

bitfinex
500plus is an etf that trade btc ltc

I gotta say Specialists aka Market makers aka insider traders aka dodgy exchanges

Definately feels like a rigged carny game to me

P.S I am old school & own coins so as not get caught in these lovely traps

I've been there since 2011.

My only two actions have been:
1. Buy
2. Buy More

I can move the market by a few dollars if I wanted to, but it's a one-shot deal and when it comes to money, there is no fucking around.

[BitChick]

I'm glad I had a buy order at 555. I'm using my "rule of thirds" and "superstitious numbers" hypotheses for trading.

Well done!  It seems those that are best at playing the "game" are the ones that do so using "math" and not emotions.

We have a more "long term" strategy and are just holding till we hit the prices (according to the SSS Plan) that we have predetermined to be the best selling points to make good gains.

This run will be the first time we have really sold any (with the exception of a few here and there when we have overbought to pay bills).

Go Bitcoin Go!

[Davyd05]

called it last night as an accumulation play

[kneim]

Last block on blockchain.info is over 2 hours old. Is there a tread about this?

You should check other explorers. Blockchain often does this


http://blockr.io/

Thanks. The lower part of the window is refreshed automatically, but the upper part is static. All is fine.

[JorgeStolfi]

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they?  Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world.   Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle.  One big "advantage"  of bitcoin is that law and police often cannot even tell whether a crime was committed. 

[zimmah]

Sweet mother....




We're retracing through this dip at a remarkable speed.

Last block on blockchain.info is over 2 hours old. Is there a tread about this?

I'm seeing 302879 through 302881 which are less than 2 hours old... Nevertheless, it is odd to see 3 blocks in the space of 2 hours...


EDIT: This seems absolutely real, not a blockchain.info glitch. 3 blocks in the last 2 hours. Accordingly, the number of transactions in each of these blocks is unusually high, and two of them are scraping the 1 MB limit.

variance. Sometimes you have 2 blocks within seconds, other times you have no blocks for a few hours. Random is random.

[cbeast]

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they?  Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world.   Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle.  One big "advantage"  of bitcoin is that law and police often cannot even tell whether a crime was committed. 

Online dating in the 1990s. How did anyone survive that?

[edwardspitz]

I'm glad I had a buy order at 555. I'm using my "rule of thirds" and "superstitious numbers" hypotheses for trading.

Ha ha. I had mine at the lowest point possible (around 400 EUR) and got my orders filled. Now I regret dumping them again for very little profit. My profit could have been... er well a LOT better Bitcoin is c-r-a-z-y  

This cultist have to punish himself with this: https://www.youtube.com/watch?v=QH2-TGUlwu4 (the 10 hour version).

[ChrisML]

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they?  Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world.   Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle.  One big "advantage"  of bitcoin is that law and police often cannot even tell whether a crime was committed. 

Online dating in the 1990s. How did anyone survive that?

Making sure you dont date a dude named: Loverapingwoman. Or something like that.

[ChrisML]

We need to see this $600 being broken TONIGHT. Lets do this sheebs.

[BitChick]

We need to see this $600 being broken TONIGHT. Lets do this sheebs.

Yes.  Tired of the $500's! 

[JimboToronto]

I can't believe there are still people here who have that guy not on ignore.

I find most of these dingbat trolls to be at least mildly amusing. Some are occasionally hilarious.

Only one is such an arrogant scumbag that I put him on ignore. Guess who. 

Rpietela?

LOL No.

He may have overly high self esteem but he's not a troll.

I'll give you a hint. It's someone whose forum name rhymes with ShatTheTwat.

[oda.krell]

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they?  Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world.   Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle.  One big "advantage"  of bitcoin is that law and police often cannot even tell whether a crime was committed. 

You have a remarkably bad memory for this stuff then.

I distinctly remember the repeated (ad nauseam) prediction that "e-commerce" would never take off because of the inherent risks of using your credit card online.

That was before amazon put a nail into the coffin of that notion obviously.

[Cassius]

I remember people saying something similar when something called 'the Internet' started to gain momentary popularity in the late 90s.

Did they?  Lots of stupid things were said about the internet back then, but scamming was not as big a problem for the internet as it is in the bitcoin world.   Perhaps because it was mostly classical scams (such as chain letters and credit card theft) that the police already knew how to recognize and handle.  One big "advantage"  of bitcoin is that law and police often cannot even tell whether a crime was committed. 

You are as selective in the points you answer as the information about bitcoin you choose to accept or ignore.

[JorgeStolfi]

It is a much more lucrative and "safe" vehicle for scams than the classical ones -- stolen credit cards, counterfeit cash, phony viagra, nigerian heirlooms, penny stocks, ponzi funds, ...

Wrong. Do you even have any idea how profitable just credit card fraud is? The credit card fraud in a single year alone absolutely dwarfs the entire bitcoin ecosystem.

That is utter bullshit, please stop repeating it.

I had the numbers somewhere that I cannot find now, but from memory: commercial payments through credit cards amount to over 7 trillion dollars a year, so 11 billion dollars of fraud is 0.2% of the total.   In comparison, Bitpay claims that it processed 100 million dollars of payment last year; even if you multiply by 4 to account for other bitcoin e-commerce outside Bitpay, that is still less than the MtGOX heist alone.  Even if you leave MtGOX out (since, technically, it may have been "embezzlement" rather than fraud), the KNOWN scams and heists in 2013 add to several million dollars at least.  So, KNOWN bitcoin fraud must already be at least 10x worse, in percentage of total e-commerce, than credit card fraud.

[ChrisML]

Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore? 

[hyphymikey]

I'm surprised there are still almost 6K BTC in shorts. I guess they weren't around to close them in the dip to 550. We need a quick hard push up to close them out and keep this rally going.

[seldon]

Lets just, ignore Jorge. Shall we? It would be such more of a blast to read through this thread without people going into an endless discussion with him. He/she/it wont ever admit anything, even at fault. So yeah, ignore? 

+1
This thread needs a kickban function