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

[EuroTrash]

In fairness the dumping at Huobi since yesterday has been more regular compared to the dumping at Stamp.
TERA might have a point about us underestimating the importance of Chinese markets.

[BTCfan1]

cheap coins incomming!!

[adamstgBit]

some known early adopters are dumping, and many  other adopters/investors/developers are slowly losing faith (one of them speaking), Bitcoin needs another bubble ASAP, bubbles are the only thing keeps Bitcoin ongoing.

You are losing faith because you won't be able to 10x your money in a few months?

of course you will be able to 10X your money in a few months! stop talking nonsense...

[Miz4r]

some known early adopters are dumping, and many  other adopters/investors/developers are slowly losing faith (one of them speaking), Bitcoin needs another bubble ASAP, bubbles are the only thing keeps Bitcoin ongoing.

No it doesn't, I hope we don't see another bubble any time soon actually so people like you who are only looking to jump on another bubble and seek to profit from it finally go away and move somewhere else. I'd much rather see a gradual increase with some bear traps along the way shaking some weak hands out who lost their faith in the next bubble.

[tarmi]

550 approaching fast.

mmitech sodl, he is one happy motherfucker.

[Davyd05]

In fairness the dumping at Huobi since yesterday has been more regular compared to the dumping at Stamp.
TERA might have a point about us underestimating the importance of Chinese markets.

People just stopped believing the volume and importance here for no reason other then being sick of PBoC Fud bombs IMO

Some may claim to the volume being faked etc. but I've always assumed China's bulls still exist, they're just waiting for the right time to strike.

[EuroTrash]

You betcha. Peter Todd dumped at LEAST five figures. Dollars, that is.

On a side I wonder how much the core devs are invested personally, out of pure curiosity.
Jeff Garzik publically stated he "only" has 348 BTC which is far less than some speculators here.
I have met another vip core dev in person and I understood he is in the thousands BTC but below 10k.

[ShroomsKit]

seriously puzzled by the selling pressure, oh well more for me.

it has something to do with the auction ...obviously!  

Market will not move further till this auction finish, this auction really pushing market downside so whale will buy Silkroad coin more cheaper.

I think it's just more general fear (of the outcome of the auction) that causes people to sell and makes others afraid to buy. Just sheep being sheep with a few whales taking advantage of the situation.
People already placed their bid anyway if i read it correctly.

Now what does worry me is that no matter the outcome of the auction the price will crash again.
I mean what is supposed to happen? If the winner bought at 600 would that suddenly cause a buying rally?
It's a tiny event that shouldn't affect the market much. It's no reason to either sell or buy.
Right now the only thing that surrounds this auction is fear and panic. All we need is one whale to dump 1000 coins 1 minute after the auction ends and everybody will completely totally fucking panic and dump everything they can. No matter what price the coins were bought.

The price of the coins isn't the real issue here. It's not what people care about. It's will there be panic or not.
Bitcoin is driven by panic at the moment. And all these events and China and ghash crap is just people looking for a reason to panic.

Really, none of these traders give a shit about if a few coins get sold at 550 or 600. 1 week from now nobody even remembers it. It's all about the panic. They are addicted to it. In a completely retarded way.

[mmitech]

some known early adopters are dumping, and many  other adopters/investors/developers are slowly losing faith (one of them speaking), Bitcoin needs another bubble ASAP, bubbles are the only thing keeps Bitcoin ongoing.

Bitcoin days destroyed says differently.

So please shut up.

Hows litecoin doing, btw?

I am doing Great on my Litecoin investment, I bought at $0.17 (0.0036BTC ) and I add some more at the last drop @ $8.2  







don't worry about my investments, you worry only about your ass

[mmitech]

You betcha. Peter Todd dumped at LEAST five figures. Dollars, that is.

On a side I wonder how much the core devs are invested personally, out of pure curiosity.
Jeff Garzik publically stated he "only" has 348 BTC which is far less than some speculators here.
I have met another vip core dev in person and I understood he is in the thousands BTC but below 10k.

Gavin has (had last year) more than 20K BTC

[ChartBuddy]

Explanation

[ShroomsKit]

And another dump while i was typing. Crazy.

[JayJuanGee]

It is magical thinking on our part to believe that anyone will pay above market prices for bitcoins, especially in this tepid market.

If you were ever going to pay above market for btc, now would be the time to do it.  Some time 5-10 days from now, BTC will put in its lowest daily bottom, and prices will always be higher thereafter.  (Says the monkey, but I will take responsibility this time, because I agree -- and yes, perhaps it is magical thinking.  He is, after all, a magic monkey.)

lol what is this magic monkey that I keep hearing of? I must have missed something many pages ago. Is this some rhesus monkey that you've imprisoned and hooked to electrodes to exploit his clairvoyant talents?

Dude. Lets bet. Any amount up to 100 BTC that they go above market price. Your logic is so irrational, I feel you should be punished for spreading stupidity on these boards. Money where mouth is please.

I tend to agree with you WindJC, yet are you saying that all ten lots are going to go above market rate.  I would think that everyone here realizes that it is likely that all ten lots are NOT going to go to one bidder for the same price... but I tend to believe that all of them are going to go above market rate, yet I would NOT be surprised if one or two lots did NOT.

[BTCfan1]

the top 8 coins are also showing negative growth, man I cant wait for it to be Monday already...

http://coinmarketcap.com

[Dragonkiller]

It is magical thinking on our part to believe that anyone will pay above market prices for bitcoins, especially in this tepid market.

If you were ever going to pay above market for btc, now would be the time to do it.  Some time 5-10 days from now, BTC will put in its lowest daily bottom, and prices will always be higher thereafter.  (Says the monkey, but I will take responsibility this time, because I agree -- and yes, perhaps it is magical thinking.  He is, after all, a magic monkey.)

lol what is this magic monkey that I keep hearing of? I must have missed something many pages ago. Is this some rhesus monkey that you've imprisoned and hooked to electrodes to exploit his clairvoyant talents?

Dude. Lets bet. Any amount up to 100 BTC that they go above market price. Your logic is so irrational, I feel you should be punished for spreading stupidity on these boards. Money where mouth is please.

I tend to agree with you WindJC, yet are you saying that all ten lots are going to go above market rate.  I would think that everyone here realizes that it is likely that all ten lots are NOT going to go to one bidder for the same price... but I tend to believe that all of them are going to go above market rate, yet I would NOT be surprised if one or two lots did NOT.

Someone willing to buy all 30k should be prepared to pay a higher premium, so I think it's highly possible that all coins will be sold to a single entity, all above the market price.

[vleroybrown]

You betcha. Peter Todd dumped at LEAST five figures. Dollars, that is.

On a side I wonder how much the core devs are invested personally, out of pure curiosity.
Jeff Garzik publically stated he "only" has 348 BTC which is far less than some speculators here.
I have met another vip core dev in person and I understood he is in the thousands BTC but below 10k.

I really don't think this is a real issue at all.  The concept of BTC is already tried and true to its valuation far beyond the current price and beyond.  As far as crisis in purchasing power that the market creates due to fear or other weakness you know its all hyperbole.  

My reasoning for stating this is after I hit 21 bitcoin I stopped caring how much more I had and started working and investing on the angle of adding value through educational outreach in my community and economic viability through spending and moving Bitcoin.  Holders of far, far more coin than I may have at the moment will be weak handed as we see the true push of inflationary pressure of the price in USD, YEN, YUAN, etc.

[akujin]

We should probably start defining what we mean by "above market" or "below market".

Since the announcement of the auction, daily median has fluctuated between, what, 650 and 550? Something like that, I think.

So, new rule: if you say "they'll sell above/below market", you better specify the actual price, otherwise that prediction is sounding a bit fuzzy.

+1

[tarmi]

I was always wondering who the fuck is investing in litecoin.

now I got the answer.

[JayJuanGee]

We should probably start defining what we mean by "above market" or "below market".

Since the announcement of the auction, daily median has fluctuated between, what, 650 and 550? Something like that, I think.

So, new rule: if you say "they'll sell above/below market", you better specify the actual price, otherwise that prediction is sounding a bit fuzzy.

That market price cannot be pinpointed, exactly.  The bidders will have a 12 hour window to bid, and their perception of market price will be at the time that they submit their bid.  I would imagine that most are going to submit their bid in the final quartile of the 12 hour window.. so in that sense, market price will be what it is during those last three hours of the auction (stable or NOT)... my point is that there are too many variables to expect a poster here to both predict whether bidders will be bidding above or below market rate and to also determine what that market rate will be... and what the reference point for that market rate should be.

[QuestionAuthority]

You betcha. Peter Todd dumped at LEAST five figures. Dollars, that is.

On a side I wonder how much the core devs are invested personally, out of pure curiosity.
Jeff Garzik publically stated he "only" has 348 BTC which is far less than some speculators here.
I have met another vip core dev in person and I understood he is in the thousands BTC but below 10k.

Gavin has (had last year) more than 20K BTC

Where did you get that from? I asked him long ago if he mined and made a bunch of Bitcoins early on and he said he didn't mine and didn't have many.