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

[keithers]

I wonder what the price per BTC would be today if the Chinese gov't never laid down the hammer with all the regulation

[nrd525]

YOu also know that volume on these chinese exchanges is sometimes exaggerated and not reported correctly? I'm not sure what the chinese numbers really are if they are fake.

This claim has been repeated thousands of times in the bitcoin media and forums, but never with substantive evidence.  I have found hints that some of OKCoin's transactions (but not Huobi's) may be fake, but those won't reach 10% of that site's volume.

A sufficient explanation for their large numbers is that the Chinese sites charge zero fees, so they attract more clients and each client generates more volume.  That is not "fake volume".  Moreover, as several sources pointed out, China already had a large population of amateur market speculators -- something that seems absent in the West.

On the other hand I suspect that a large fraction of the volume at the "Western" exchanges is merely arbitrage with China.  If arbitragers generate (say) 25k BTC of trade per day on each side of the "frontier", it would be 50% of the Western volume but only 15% of the Chinese one, so the disparity would only increase.

Are you saying that Bobby Lee, CEO of BTC China, isn't credible?

He has said they inflate volume.   You can see Youtube videos of him at Bitcoin conferences discussing it.

Also OK Coin volume looks fake to me. It lacks the variation in volume that all other exchanges display.

[fonzie]

Stamp, BTC-E and Finex almost in sync again. 570/572,72/572,99 $

[ChartBuddy]

Explanation

[samsonn25]

Getting cheaper. Cant stay this low forever.

[nioc]

Have been catching up on today's posts and luckily I could skip over the majority of words.

Topic #1:  Free Will

Instead of watching those lengthy videos I shall give one example.  Turrets Syndrome is a disorder where people have uncontrollable tics, sometimes verbal which involves cursing.  If you ask a person with Turrets how they experience it they will say they chose to behave this way as it is a relief similar to scratching an itch.  When they record the brain activity their conscious "decision' happens after the action. 

As we believe that our consciousness is in control we constantly do the same thing and explain our actions as conscious decisions after the fact.


Topic #2: Religion

May I suggest you consider practicing mine.

There is one commandment......Be Good

Whenever I left the house my Mother said "Be Good" and at 4 years old there was no ambiguity as to what that meant so it shouldn't be that difficult although like all things it does take practice.

There is one holiday, it is Thanksgiving and it is every day.  As this eliminates all the gift giving holidays I do the following.  If I find a gift that meaningful to a person I get it for them then and there.  How do you think the recipient feels receiving a gift because you thought of them as opposed to having to find something/anything because it is the "law" that you must give a gift on a particular day.

One commandment and one holiday.  That's all there is to it.

[Gimmelfarb]

Getting cheaper. Cant stay this low forever.

in the short term, i think you're right. but i still think there is a leg down to make, retest the bottom or make a higher low... test this area so bulls are comfortable there is support below, and then we can get to $700-800 i think.

[Parazyd]

This is what happens when you give Bitcoin tp Wall Street.
I don't like the fact that the brokers now control the Bitcoin price. It's gonna get more and more adopted by various Wall Street companies(?) amd it could lead to bad stuff.

[ChrisML]

Getting cheaper. Cant stay this low forever.

in the short term, i think you're right. but i still think there is a leg down to make, retest the bottom or make a higher low... test this area so bulls are comfortable there is support below, and then we can get to $700-800 i think.

Another bottom?

We Just hit the rock bottom, hard. 2 weeks it started going down from 688 to 620. Than from 640 back to 550.

We came from 4xx. You want it to be lower than 3 months ago?
 

[Wolf Rainer]

Why is still going down?

[ChartBuddy]

Explanation

[ShroomsKit]

Why is still going down?

Because people are extremely scared. As soon as the price goes up someone will dump on it, Chinese FUD will be posted, a pool reaches 51% etc. There are people working non stop on trying to take the value of Bitcoin down and right now they control the market. Any hint of bad news atm and the sheep completely panic. A lot of the selling currently is because of "i better sell now before someone else sells". As always the idiots create their own problem. Of course this will change again but when...nobody knows.

[machasm]

I wonder what the price per BTC would be today if the Chinese gov't never laid down the hammer with all the regulation

Peeps have trouble speculating accurately on the actual BTC price on a daily basis with all the charts in the world. What hope has anyone got on speculating on what might have happened???
Pick a number!

[Wolf Rainer]

Why is still going down?

Because people are extremely scared. As soon as the price goes up someone will dump on it, Chinese FUD will be posted, a pool reaches 51% etc. There are people working non stop on trying to take the value of Bitcoin down and right now they control the market. Any hint of bad news atm and the sheep completely panic. A lot of the selling currently is because of "i better sell now before someone else sells". As always the idiots create their own problem. Of course this will change again but when...nobody knows.

There are people saying about price under 300 in few days, im afraid but im not going to sell. Im like the captain of a ship, if it goes down i will go down with it.

[BTCfan1]

man I am so bored with this all this launch prep - it's moon time dammnit!!!

[Parazyd]

Why is still going down?

Because people are extremely scared. As soon as the price goes up someone will dump on it, Chinese FUD will be posted, a pool reaches 51% etc. There are people working non stop on trying to take the value of Bitcoin down and right now they control the market. Any hint of bad news atm and the sheep completely panic. A lot of the selling currently is because of "i better sell now before someone else sells". As always the idiots create their own problem. Of course this will change again but when...nobody knows.

There are people saying about price under 300 in few days, im afraid but im not going to sell. Im like the captain of a ship, if it goes down i will go down with it.

I'm also afraid to sell at this point. I sold at 660ish and bought at 620. But now it went lower.
Although, I'm sure we'll be back on track after the Silkroad auction.

[ChartBuddy]

Explanation

[Erdogan]

yea sure, being Muslim is stupid

Just make sure you are directly connected to god, not via a middleman that can turn out to be a dominator.

[boumalo]

Why is still going down?

Because people are extremely scared. As soon as the price goes up someone will dump on it, Chinese FUD will be posted, a pool reaches 51% etc. There are people working non stop on trying to take the value of Bitcoin down and right now they control the market. Any hint of bad news atm and the sheep completely panic. A lot of the selling currently is because of "i better sell now before someone else sells". As always the idiots create their own problem. Of course this will change again but when...nobody knows.

There are people saying about price under 300 in few days, im afraid but im not going to sell. Im like the captain of a ship, if it goes down i will go down with it.

It may go down some more and 300 is not totally impossible but it is really unlikely because it's 55% less than the current price and there has been a lot of positive news, adoption is growing and the economic bad news for the states and Europe are around the corner and some insiders know it

[fonzie]

Longterm support line about to be broken soonish. Buy orders set around 150-280$!
Good luck everyone!