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

[shmadz]

did I just observe a wall?

*edit, replaced pic with better pic.

[ChartBuddy]

Explanation

[aminorex]

My preferences are not important.  The point is that a system that does not allow the forcible return of stolen property will not be acceptable to society, except for thieves and other criminals.  In the end, it will be rejected even by the libertarians who now think that irreversibility is a good thing.

Forcing the return of stolen bitcoin is no more or less difficult than forcing the return of any other stolen good.  Why would you think otherwise?  The only reason I can see why you would think otherwise is that you are identifying banks as the only actors worthy of recognition.

[Richy_T]

Personally and helping 2 others open corporate accounts on stamp it was a painless process and took about 2-4 hours max

Unless you want to launder your drug money or terrorist funds answer the KYC its not that hard 

 

The US govt makes reporting conditions more onerous time after time. These things may be acceptable to most right now but before long, it'll be more "I am altering the deal. Pray I don't alter it any further." Just try not to be caught with your head in the sand.

[adamstgBit]

[IMG virtex order book [/img]

did I just observe a wall?

*edit, replaced pic with better pic.

looks like the same walls that dance around following stamps price.

[bitcoinsrus]

[IMG virtex order book [/img]

did I just observe a wall?

*edit, replaced pic with better pic.

looks like the same walls that dance around following stamps price.

well, something seems to be happening...

Yea, even though on bitcoinwisdom, I seen 2 big red candles, the price has not moved that much. These resistant points 

[shmadz]

[IMG virtex order book [/img]

did I just observe a wall?

*edit, replaced pic with better pic.

looks like the same walls that dance around following stamps price.

well, something seems to be happening...

Yea, even though on bitcoinwisdom, I seen 2 big red candles, the price has not moved that much. These resistant points  

yeah, sorry bout that, I saw the little price spike on btc-e and thought we were going up again. I already deleted my post.

but it did start me thinking about arbitrage, which I kinda suspect would be the reason for such a move.

So, let's say, I've got a large amount of both fiat and bitcoin lying around at several exchanges. btc-e was like 15 dollars lower than stamp, so I buy like hell at btc-e and drive the price up to parity with stamp, and because the markets all twitch together as one, the move can cause the other exchanges up as well.

It's like supercharged arbitrage.

[Syke]

<censored>

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Please people, stop quoting that guy. He consistantly gets "facts" completely wrong. I don't think he's stupid, so he must be doing it on purpose, ie trolling.

Second Market has bought over 100,000 bitcoins. That makes them in fact one of the largest buyers in the world.

[BBmodBB]

[IMG virtex order book [/img]

did I just observe a wall?

*edit, replaced pic with better pic.

looks like the same walls that dance around following stamps price.

wheres all this dope dog chatter coming from ?~ silk road trial or something? hmm =\

[nanobrain]

Wondering if this is close enough to be considered a pennant closing on the 30min..bullish?

[solex]

<censored>

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Please people, stop quoting that guy. He consistantly gets "facts" completely wrong. I don't think he's stupid, so he must be doing it on purpose, ie trolling.

Second Market has bought over 100,000 bitcoins. That makes them in fact one of the largest buyers in the world.

Yes. JS is the worst kind of troll: one that speaks with an academic and level-headed authority but wastes no opportunity to stick the knife in. Why does he spend so much time on this forum when he could just get a life and wait until (he hopes!) Bitcoin crashes and burns, and then come back here laughing and gloating? The reason is extreme butt-hurt of the first order by missing out buying in at $1 a coin. Now the strategy is to talk (troll) the price down which has the dual goal of punishing all those who did get in early, while possibly enjoying a new chance to do the same at 2010 prices.

[JorgeStolfi]

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Right. Thanks to SMBIT, traders only have to worry about the destination of ~27'000 BTC per week, rather than 28'000. 

Seriously, there is at least another bitcoin fund similar to SMBIT (Pantera Bitcoin Partners, PBP).  Does anyone know how much they have and are buying?

[KFR]

Must listen:
http://www.bbc.co.uk/programmes/b044j94d

22mins in they get to Bitcoin.  Fun series this.

[ChartBuddy]

Explanation

[KFR]

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Right. Thanks to SMBIT, traders only have to worry about the destination of ~27'000 BTC per week, rather than 28'000. 

Seriously, there is at least another bitcoin fund similar to SMBIT (Pantera Bitcoin Partners, PBP).  Does anyone know how much they have and are buying?

Weeks eh?  In 115 weeks that becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

You have a problem with the "Satoshi blockchain" and you have a problem with the idea of a finite supply limit.  No surprise; they are the same thing.

[ChrisML]

MOOOOOOOOOOON.

Just a warm up, dont push the "buy" button.

[adamstgBit]

[YipYip]

<censored>

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Please people, stop quoting that guy. He consistantly gets "facts" completely wrong. I don't think he's stupid, so he must be doing it on purpose, ie trolling.

Second Market has bought over 100,000 bitcoins. That makes them in fact one of the largest buyers in the world.

I dont undertstand why we are still entertaining him as his motives are obviously not genuine....

[shmadz]

SecondMarket is buying up 1000 / 28,000 = 3.6% of the new bitcoin supply on a regular basis.  Without the word "not" your bolded statement above is equally valid (and equally biased): they are big buyers!

Right. Thanks to SMBIT, traders only have to worry about the destination of ~27'000 BTC per week, rather than 28'000. 

Seriously, there is at least another bitcoin fund similar to SMBIT (Pantera Bitcoin Partners, PBP).  Does anyone know how much they have and are buying?

Weeks eh?  In 115 weeks that becomes only 14,000 BTC per week.  A few years later it's 7,000 per week.  I think you understand the maths here. 

You have a problem with the "Satoshi blockchain" and you have a problem with the idea of a finite supply limit.  No surprise; they are the same thing.

shhhh, you don't want to scare the children. we must protect the children from this "funny money".

PLEASE THINK ABOUT THE CHILDREN!!1

[ChartBuddy]

Explanation