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

[aminorex]

what you have to do is:

• gain some credibility
  
• Within the limits of our liquidity base, we are ready to do whatever it takes to support a bitcoin price of $800, and  believe me, it will be enough.
  

Things like the Exchange Stabilisation Fund you mean?

I was more thinking of the monkey's private liquidity base in USD. I suppose he has one, else it will be futile.

I am so in favor of putting the magic monkey in charge of managing the magic internet money.  It appeals to the parts of me that adore latin american magical realism.  However, the monkey has never worked for Goldman-Sachs, so he is obviously not on the short list for recruiting central bankers.  (I think they prefer Ivy League simians at Goldman.  Monkey grew up in the jungle, never wore Nantucket reds during the summer, and doesn't date girls named Tiffany who drive Boxsters -- but only because they never return his calls.)

He might actually get a job making market in COIN options one day, however.

[Bagatell]

Careful plugging in that 100th monkey!

[derpinheimer]

Resistance to 700 keeps getting bigger

The stronger the resistance, the more powerful the breakout  

Yes, the wrong way i'm afraid.

The resistance actually isnt growing significantly

He is probably talking about BTC-E, and he seems to be right. Actually ShroomsKit made many observations that uber-bulls ignore.

BTC-e has a history of being below the market. They are more a market leader for LTC.

Yep. Compared to about a month ago, at the same price level,

Bitstamp is a bit more bullish (10% higher bidsum, 5% lower ask sum)
Bitfenix is much more bearish (50% lower bidsum, 10% lower ask sum)
BTC-E is unimportant and inaccurate, but the bid sum is a bit higher..
Huobi is more bullish (50% higher bidsum, 5% higher ask sum)    <--- could be inaccurate, but I am unsure

[xyzzy099]

what you have to do is:

• gain some credibility
  
• Within the limits of our liquidity base, we are ready to do whatever it takes to support a bitcoin price of $800, and  believe me, it will be enough.
  

Things like the Exchange Stabilisation Fund you mean?

I was more thinking of the monkey's private liquidity base in USD. I suppose he has one, else it will be futile.

I am so in favor of putting the magic monkey in charge of managing the magic internet money.  It appeals to the parts of me that adore latin american magical realism.  However, the monkey has never worked for Goldman-Sachs, so he is obviously not on the short list for recruiting central bankers.  (I think they prefer Ivy League simians at Goldman.  Monkey grew up in the jungle, never wore Nantucket reds during the summer, and doesn't date girls named Tiffany who drive Boxsters -- but only because they never return his calls.)

He might actually get a job making market in COIN options one day, however.

[ShroomsKit]

http://bgr.com/2014/07/03/bitcoin-exchange-mainstream-analysis/

I noticed a lot of positive media the last 7 days. It completely changed compared to even a month ago.
Everyone feels like now is the time. Everyone is excited. Everyone but the sellers.
It's probably the best week this year and the selling pressure is sky high.
So odd.

[Richy_T]

Plug him in and turn him on! Might even be more monkeys out there, get a p2p distributed monkey onto it

Always mount a scratch monkey.

[wachtwoord]

http://bgr.com/2014/07/03/bitcoin-exchange-mainstream-analysis/

I noticed a lot of positive media the last 7 days. It completely changed compared to even a month ago.
Everyone feels like now is the time. Everyone is excited. Everyone but the sellers.
It's probably the best week this year and the selling pressure is sky high.
So odd.

Maybe many people bought at these prices, got scared due to the lower prices and are dumping to exit permanently? We had a lot of those during the last growth spurt too. When these sellers are out of the way we can proceed.

[ImI]

http://bgr.com/2014/07/03/bitcoin-exchange-mainstream-analysis/

I noticed a lot of positive media the last 7 days. It completely changed compared to even a month ago.
Everyone feels like now is the time. Everyone is excited. Everyone but the sellers.
It's probably the best week this year and the selling pressure is sky high.
So odd.

i think one problem that bitcoin faces is the bad exchange situation / not much confidence in the exchanges

alot of new folks get attracted to bitcoin everyday, but other than last year, they have no idea where to buy bitcoin in a safe way. the gox desaster has shocked basic confidence and that still is a factor imo.
i talked to some guys that are interested in bitcoin but the bullshit that went on at gox is keeping them from sending $s to some east european exchange.

thats a big problem imo.

[ChartBuddy]

Explanation

[gentlemand]

http://bgr.com/2014/07/03/bitcoin-exchange-mainstream-analysis/

I noticed a lot of positive media the last 7 days. It completely changed compared to even a month ago.
Everyone feels like now is the time. Everyone is excited. Everyone but the sellers.
It's probably the best week this year and the selling pressure is sky high.
So odd.

i think one problem that bitcoin faces is the bad exchange situation / not much confidence in the exchanges

alot of new folks get attracted to bitcoin everyday, but other than last year, they have no idea where to buy bitcoin in a safe way. the gox desaster has shocked basic confidence and that still is a factor imo.
i talked to some guys that are interested in bitcoin but the bullshit that went on at gox is keeping them from sending $s to some east european exchange.

thats a big problem imo.

Agreed. I think we'll bounce around until there are some bulletproof exchanges. The current ones are mainly hangovers from the $10-100 days. They're not good enough if we're talking thousands per coin.

[ShroomsKit]

http://bgr.com/2014/07/03/bitcoin-exchange-mainstream-analysis/

I noticed a lot of positive media the last 7 days. It completely changed compared to even a month ago.
Everyone feels like now is the time. Everyone is excited. Everyone but the sellers.
It's probably the best week this year and the selling pressure is sky high.
So odd.

i think one problem that bitcoin faces is the bad exchange situation / not much confidence in the exchanges

alot of new folks get attracted to bitcoin everyday, but other than last year, they have no idea where to buy bitcoin in a safe way. the gox desaster has shocked basic confidence and that still is a factor imo.
i talked to some guys that are interested in bitcoin but the bullshit that went on at gox is keeping them from sending $s to some east european exchange.

thats a big problem imo.

That certainly has something to do with it.  That Gox situation has been extremely bad for Bitcoin. Still to this day.

[ImI]

http://bgr.com/2014/07/03/bitcoin-exchange-mainstream-analysis/

I noticed a lot of positive media the last 7 days. It completely changed compared to even a month ago.
Everyone feels like now is the time. Everyone is excited. Everyone but the sellers.
It's probably the best week this year and the selling pressure is sky high.
So odd.

i think one problem that bitcoin faces is the bad exchange situation / not much confidence in the exchanges

alot of new folks get attracted to bitcoin everyday, but other than last year, they have no idea where to buy bitcoin in a safe way. the gox desaster has shocked basic confidence and that still is a factor imo.
i talked to some guys that are interested in bitcoin but the bullshit that went on at gox is keeping them from sending $s to some east european exchange.

thats a big problem imo.

Not sure about the rest of the world but the ATM here has a solid turnover. Then there's other outlets, there's been a lot of talk of voucher/card systems and you hear mentions of country based operators regularly.

yes, luckily there are multiple ways to get some BTCs. nevertheless it would be such a boost in confidence if some known big player would enter the exchange market.

[dgarcia]

i think one problem that bitcoin faces is the bad exchange situation / not much confidence in the exchanges

alot of new folks get attracted to bitcoin everyday, but other than last year, they have no idea where to buy bitcoin in a safe way. the gox desaster has shocked basic confidence and that still is a factor imo.
i talked to some guys that are interested in bitcoin but the bullshit that went on at gox is keeping them from sending $s to some east european exchange.

thats a big problem imo.

So what?
You should ask them how much, sell them with interest from your stack and re-order for yourself, of course. A safe way has it's price.

So you'll be this new confident Exchange ;-)

[spooderman]

I wish I understood the monkey meme in here. Anyone care to explain? My inkling is that it serves to highlight the absurdity of predicting something quite unpredictable through parody. But this feels too complicated. Though amniorex does usually think at this sort of depth.

[ImI]

i think one problem that bitcoin faces is the bad exchange situation / not much confidence in the exchanges

alot of new folks get attracted to bitcoin everyday, but other than last year, they have no idea where to buy bitcoin in a safe way. the gox desaster has shocked basic confidence and that still is a factor imo.
i talked to some guys that are interested in bitcoin but the bullshit that went on at gox is keeping them from sending $s to some east european exchange.

thats a big problem imo.

So what?
You should ask them how much, sell them with interest from your stack and re-order for yourself, of course. A safe way has it's price.

So you'll be this new confident Exchange ;-)

lol

yeah thats the way to go, nevertheless who takes care of all the other lost souls?

[Wary]

I wish I understood the monkey meme in here. Anyone care to explain? My inkling is that it serves to highlight the absurdity of predicting something quite unpredictable through parody. But this feels too complicated. Though amniorex does usually think at this sort of depth.

Aminorex is developing his indicator and kindly shares with it's results. But being a kind of person that prefers long words and sentences to short ones, he would find saying "my indicators shows this and that" too boring, so come the magic monkey. Also, since he put a lot of effort into creating and training the indicator, he start treating it more like favorite pet with all it's tricks rather that like a soulless junk of computer code.

[xyzzy099]

I wish I understood the monkey meme in here. Anyone care to explain? My inkling is that it serves to highlight the absurdity of predicting something quite unpredictable through parody. But this feels too complicated. Though amniorex does usually think at this sort of depth.

There is no meme.  Aminorex literally has a prediction monkey.  See https://bitcointalk.org/index.php?topic=178336.msg7398180#msg7398180 for instructions on how to build your own.

[Wary]

Can I have one?

Nope.

[ChartBuddy]

Explanation

[derpinheimer]

Explanation

This bot or guy has been toying with those bids and asks for hours now.. wtf lol