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

[ShroomsKit]

Funny btw how nobody cares anymore about the biggest event this year that completely controlled the market for 2 weeks: the price of the sold coins.
100's of posts. It was the most important thing ever. It was the only thing people talked about.
3 days later and nobody gives a shit anymore.

[nanobrain]

Time to get mad

The majority of quotes below the line suggest people get the government they deserve.

Let it burn.

[derpinheimer]

Funny btw how nobody cares anymore about the biggest event this year that completely controlled the market for 2 weeks: the price of the sold coins.
100's of posts. It was the most important thing ever. It was the only thing people talked about.
3 days later and nobody gives a shit anymore.

Unfortunately nothing can be done. Unless the losing bidders came out with their bids, we cant have any idea.

I really cant see it being anything other than $700 or $1000 though, with my money on $700..

[FNG]

Wth is up with Stamp. I see a 60 coins bought taking us to 650 and a minute later without any big sells we're at 645.

no bids


10:15:12 645.75 0.46720
10:15:06 646.13 0.50259
10:14:11 646.25 0.50368
10:14:10 646.69 0.056
10:14:10 646.69 2.83054
10:12:36 650 0.39607
10:12:31 650 0.3861
10:10:49 650 0.39604
10:09:06 650 0.09343
10:09:04 649.99 0.36590
10:08:15 649.99 1.28785
10:06:32 650 4.99999
10:04:50 650 59.2607
10:04:50 649.99 30.7392
10:01:03 649.36 0.00879
10:00:48 649.96 0.00879
10:00:34 649.96 0.47896
10:00:08 649.38 0.01615
09:55:39 647.88 0.2
09:54:46 647.88 4.29424
09:53:59 648 1.11905

[adamstgBit]

It may be possible bitcoin was essentially over-valued for a long time and the adoption by online players was already baked into the price. Good news now has to be of the Google, Ebay, Paypal, Amazon type variety to make an impact.

this is what speculators do, they gamble that shit will happen and cause price to go up, so they buy, shit happens price goes up and they sell.

buying in after the FBI stamped bitcoin with their seal of approval, is for sure going to cost more than buying before.

price does not increase because of speculator tho, price increases because bitcoin is perceived to be more valuable after a seal of approval from FBI, speculators simply gambled that perceived value of bitcoin would go up after X event.

and so I do not believe speculators make the price any less accurate over/under-valued not in any meaningful way anyway.

If anything speculators keep prices low, because they sell once there gamble pays off.

we are / have been in one of these speculators selling because there bet paid off stage for quite some time now... nearly 9 months?

I participated in this myself, I ran out of "coins to sell should my bet pay off"  9 10 months ago. can't imagine these other guys have much more these coins left.....

and when they do run dry, it won't matter if bitcoin jesus himself says bitcoin is evil we WILL go to >800$ in a flash.

this happens in every other market. its healthy and necessary, If all we had was investors and no speculators, no one would ever sell a damn coin, price would be well over 100,000K, liquidity would be 0, and bitcoin would be completely useless.


Conclusion:

KEEP CALM
  AND
SPECULATE

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[hmmmstrange]

Funny btw how nobody cares anymore about the biggest event this year that completely controlled the market for 2 weeks: the price of the sold coins.
100's of posts. It was the most important thing ever. It was the only thing people talked about.
3 days later and nobody gives a shit anymore.

The biggest event this year is Kuwait, an OPEC nation, suggesting to replace the petrodollar with the petrobitcoin.  In order to purchase 75 million barrels of oil a day, bitcoin's price would need to be orders of magnitude larger than it is now.

The ramification of this would be world changing instantly.

Check it out for yourself, try using http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html
and add a 3 trillion dollar oil market to the model.

[Mervyn_Pumpkinhead]

Funny btw how nobody cares anymore about the biggest event this year that completely controlled the market for 2 weeks: the price of the sold coins.
100's of posts. It was the most important thing ever. It was the only thing people talked about.
3 days later and nobody gives a shit anymore.

The biggest event this year is Kuwait, an OPEC nation, suggesting to replace the petrodollar with the petrobitcoin.  In order to purchase 75 million barrels of oil a day, bitcoin's price would need to be orders of magnitude larger than it is now.

The ramification of this would be world changing instantly.

Check it out for yourself, try using http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html
and add a 3 trillion dollar oil market to the model.

Kuwait isn't suggesting anything. A finance firm from Kuwait suggested the idea. This rhetoric is like saying that Barry Silbert is the United States of America.

Kuwait or any other middle-east OPEC nation wouldn't abandon the dollar for security reasons. If they would abandon the petrodollar, then they would lose the protection of the USA. That is the trade that is going on there, OPEC countries offer value to the dollar, and USA offers security in return to those in power.
Countries like Saudi Arabia or Qatar have the most oppressive and religiously fanatical regimes, but somehow we don't see the western leaders worrying on how we should export democracy to these countries. In the meantime, Iran is rather liberal in the regional context, but somehow they are the bad guys.

This means that middle-eastern OPEC countries would only abandon the petrodollar for CNY or maybe RUR, if they could offer better protection. But if you compare the defense budget of US, against the rest of the world, then it's not hard to see why countries prefer to pay protection to the USA.

[ChartBuddy]

Explanation

[rebuilder]

Wth is up with Stamp. I see a 60 coins bought taking us to 650 and a minute later without any big sells we're at 645.

Sounds like business as usual to me.

[BTCfan1]

so bored with the price right now

[FNG]

so bored with the price right now

Waiting to see if those panic sellers get punished..I'm guessing they buy back shortly

[ChartBuddy]

Explanation

[joehal]

Bitcointalk.org Forum Statistics by Month
Data from https://bitcointalk.org/index.php?action=stats

[ click on image for full version ]

Sorry for the insults addressed to you. I mean I never saw you insult anyone, so I don't think it's appropriate to be insulted but probably some persons here can't debate intelligently so they have to resort to what they know best.

[zby]

Remember - who panics the first panics the best!

[spooderman]

Not if he is the only to panic.

Friday dumpage?

[600watt]

Funny btw how nobody cares anymore about the biggest event this year that completely controlled the market for 2 weeks: the price of the sold coins.
100's of posts. It was the most important thing ever. It was the only thing people talked about.
3 days later and nobody gives a shit anymore.

The biggest event this year is Kuwait, an OPEC nation, suggesting to replace the petrodollar with the petrobitcoin.  In order to purchase 75 million barrels of oil a day, bitcoin's price would need to be orders of magnitude larger than it is now.

The ramification of this would be world changing instantly.

Check it out for yourself, try using http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html
and add a 3 trillion dollar oil market to the model.

nice site; i get rich by sliding with my finger...

[CoinHamster]

flag pattern completed
time to look upward

[spooderman]

A very sudden jump up to about 800 is reasonable to expect over the next week or so.

This is using the matroska cup and handle theory proposed a few hundred pages back.