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

[medialab101]

$600 in sight

[molecular]

600 needs to go or we will eventually go down again i think.

I am still thinking $585 is the mark to beat.   We have passed it a few times last night, but then keep falling below, and fighting to get back to $585.  Shouldn't be a psychological level there, but it definitely seems like the ceiling we need to break...

60,000 JPY are 587 USD... just saying

[BitChick]

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

Yes.  Tired of the $500's! 

Yes, but the $500s is significantly better than the $400s which we were sitting at for what felt like an eternity (despite not that long in real time)...

Joking of course.  We are moving through the 500's pretty fast.  Hopefully the 600's, 700's, 800's and 900's are even faster!    It seems to work that way.

[hd060053]

wow this guy really wants lots of BTC. he doesn't stop market buying.

is willy again buying not existing BTC's ?

[gizmoh]

One person/entity is accumulating through a bot via stamp..how deep is his pockets?

[oda.krell]

$600 in sight

Agreed. $600 within reach (<12h).

Then: rally time to 650, maybe higher, touching 700?

Then then: falling back below 640, and eventually re-testing 530.


So say we all? So say we all! :D

[JorgeStolfi]

You may be glad to know that the Willy Report page has just been taken down by Wordpress for "violation of the terms of service".  Does that explain the price recovery? 

[Gingermod]

You may be glad to know that the Willy Report page has just been taken down by Wordpress for "violation of the terms of service".  Does that explain the price recovery? 

No one actually cared about that

[thezerg]

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.

The problem is that he either willfully ignores the poster's specific content or unconsciously allows his bias to view certain posts as a launching pad for his FUD.  

In this case the prior poster did NOT say that  CC fraud as a % of total CC payments is > BTC fraud as a % of total BTC transactions, which is what Jorge refuted.  He simply said that the total CC fraud amount (11 billion using Jorge's #s) is > BTC ecosystem, which by Jorge's own estimate is 400 million.  So they are in fact in violent agreement :-).

[ChartBuddy]

Explanation

[BldSwtTrs]

Having observed many rallies in bitcoin (and none anywhere outside of cryptos), this one feels like it's happening in slow-motion?

A correction like we just had today and recovery from it used to happen both earlier and faster the way I recall the past rallies.

Is it just me? What could be possible explanations? Higher liquidity? lower amount of traders? Better distributed holdings?

(I'm not saying I don't like the relatively slow pace)

I think it's you, imho. Relatively to the last bubble, we are near end september 2013. And as far as I remember the pace was the same. But it's just an impression, looking at the actual data may confirm/deny it.

[aminorex]

Magic monkey is saying its time for a retracement pullback real soon now.  He's unimpressed by the little dip.  It's not good enough for him.

[rezurect]

Having observed many rallies in bitcoin (and none anywhere outside of cryptos), this one feels like it's happening in slow-motion?

A correction like we just had today and recovery from it used to happen both earlier and faster the way I recall the past rallies.

Is it just me? What could be possible explanations? Higher liquidity? lower amount of traders? Better distributed holdings?

(I'm not saying I don't like the relatively slow pace)

Trading Maturity?? Steadier hands??

[ShroomsKit]

Go 600 go! Stop being afraid of it. Embrace it! Hug it! It loves you!

[Hunyadi]

You may be glad to know that the Willy Report page has just been taken down by Wordpress for "violation of the terms of service".  Does that explain the price recovery? 

OMG...you are trolling sir.

[blatchcorn]

This chart speaks for itself

[JimboToronto]

wow this guy really wants lots of BTC. he doesn't stop market buying.

One person/entity is accumulating through a bot via stamp

What makes you think it's the same person?

During the long period of stagnation in the 400s, I though it might have been one person who seemed to dump 400 coins every time the price started to creep up. I figured it might be someone with stolen coins trying to convert to fiat without dropping the price too quickly.

This isn't like last summer when every major jump up was followed by a bid wall to hold the new price.

[hd060053]

wow this guy really wants lots of BTC. he doesn't stop market buying.

One person/entity is accumulating through a bot via stamp

What makes you think it's the same person?

During the long period of stagnation in the 400s, I though it might have been one person who seemed to dump 400 coins every time the price started to creep up. I figured it might be someone with stolen coins trying to convert to fiat without dropping the price too quickly.

This isn't like last summer when every major jump up was followed by a bid wall to hold the new price.

it was like one person activating the bot to market buy until his $$ are 0. It was a stupid move because there was no support by the china exchanges.

[rezurect]

http://webcache.googleusercontent.com/search?q=cache:oc0Mtte8l6MJ:willyreport.wordpress.com/+&cd=1&hl=en&ct=clnk&gl=in

Fuck, just saw the willy report, we should have crashed and burned?
This makes the previous bubble irrelevant. Historical data from September fake. All those trend-lines and analysis is based on fake trades and volume. Why the hell isn't anybody saying a thing??

[Gingermod]

http://webcache.googleusercontent.com/search?q=cache:oc0Mtte8l6MJ:willyreport.wordpress.com/+&cd=1&hl=en&ct=clnk&gl=in

Fuck, just saw the willy report, we should have crashed and burned?
This makes the previous bubble irrelevant. Historical data from September fake. All those trend-lines and analysis is based on fake trades and volume. Why the hell isn't anybody saying a thing??

Because that report and your conclusions are bullshit.