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

[empowering]

https://firstlook.org/theintercept/2014/07/14/manipulating-online-polls-ways-british-spies-seek-control-internet/



talking about manipulators: i wonder how deep agencies are involved in this forum....  they seem to be omnipotent.

We sorry I mean "they" are everywhere  

[empowering]

and lift

looks very bullish to me, over 4000 by August!

I can see the sun shining out of the front of her crotch area, I think right below the 61.8% fib , it is a sign... this looks like where great things are born.

(insert vulgar joke about the 78.6% fib)

[LOADING.READY.RUN]

A whale had pretty much all the coins below 640 on stamp yesterday and was using the walls to sweep them up around 620, all that bouncing up and down (trying hard not to think of yoga pics) of the walls was shaking out some bots. Its a treeshake but they don't seem inclined to push it down more for now at least, worrying seeing that many coins used to manipulate the market though. Maybe they're doing their bit for stability but they're breaking trendlines to do it and I'm hoping they're not going to shake the tree lower when they have enough coins to more or less guarantee dominance.

Agree about the tree shaking. Doing this very close to the trendlines probably supports their cause to make people more willing to sell... Bitcoin has a history of fakeouts, so in my books this isn't a clear break yet, especially as on huobi the support line still looks more or less intact.

[JayJuanGee]

Crashing into the low 500s by this time next week. The pressure seems to be more towards the downside and we all know that there is bad news coming -- Bitfinex isn't prepared for the 21st, Lawsky... even if it turns out to be good news... will be confusing enough to seem like bad news initially, China seems bored, and the degree of market manipulation has seemed to intensify as of late. Sprinkle a little FUD on top of this along with the larger batch of Silk Road coins strung around the market's next like an albatross (and the fact that we had a bump following not even really knowing what the bid price was on the smaller batch bitcoin auction... we just extrapolated out our backsides). Oh yes, and add in the fact that even with great news we can't seem to break towards the upside... if we are going anywhere near term it is down.

By the way, I am generally positive for our long term and even 6 months out prospects. But, next couple weeks look like they'll be tough going.

quality FUD


not bad.

Cool story bro. Hey, I'm not saying it will be the end of days or anything, but I think we are about to get a buying opportunity... it might be the last good one. It's up to you to decide whether the glass is half empty or half full, but we both know in the very short-term (next week or so) downside odds are greater than upside odds. Think about the volume for instance... it says two things -- (1) nobody is all that excited to buy right now; and (2) smarter money is trying to unwind their positions without having everybody race out of the auditorium. Also, think about the good news we've received lately... it has had zero effect. By contrast, even the weak FUD piece by the European Central Bank caused a 4 to 5% drop. Now, we have a market situation with Bitfinex that could go south very quickly and we know the regulators will have harsh sounding cautions that won't amount to anything in practical effect (it'll be a green light... good news... that will sound like a red light).

So, I sold my (pretty modest) stash of 12 coins (I am relatively poor but not terribly so) this morning. I am waiting until sometime mid next week to re-enter. You can cheerlead all you want, but have fun losing money doing that (unless you are just hodling very long-term in which point it is probably irrelevant). Thanks, have a nice day.

Yeah.... ?   Good luck with that assessment.  I believe that it is too risky to bet one way or another, and to liquidate all bitcoins is probably NOT a very wise idea for anyone who wants to experience a potential upside with BTC.  It is very possible, peeps like you are going to miss the train, and that is NOT a matter of cheerleading it is just the past nature of bitcoin to take off upward during times in which people were beginning to lose hope.

[ChartBuddy]

Explanation

[dgarcia]

The July 24th date is 234 days after the previous bubble, which was 234 days after the previous bubble, etc.  There is a guy on Reddit who spent months telling everyone we were going to the moon on exactly that date, not one day earlier, not one day later.

When he started getting laughed at, he made his own subreddit, and moved there.  The last that I read, he turned from superbull to superbear because his prediction was wrong which he thinks proves that the bitcoin bubble trend is dead.

I am expecting the price to jump a few percent on the 23rd or early 24th because he publicized it so much, for so long.

If he said July 24th, how come the prediction was wrong?

Because Christine Lagarde said it would be the 20th or 27th
https://www.youtube.com/watch?v=QYmViPTndxw

[ChartBuddy]

Explanation

[Richy_T]

well if nothing else gets Amazon and/or Ebay to pay attention Rakuten might.

http://www.coindesk.com/japanese-retail-giant-rakuten-hints-bitcoin-acceptance/

again nothing immediate but the wind is blowing.

Nice, they are one of my go-to sites. Not so much recently but always worth a check. (This is buy.com in case anyone didn't make the connection)

(Note, for those who tend to wait to long for things like this, offer ends 22nd July)

[wingsfan23]

Newegg just ran an ad in Diggs daily email - 10% anything (up to $100) on Newegg if you use bitcoin!

http://promotions.newegg.com/nepro/14-3631/index.html?cm_mmc=BAC-Digg-Bitcoin-Promotion-_-NA-_-NA-_-NA&nm_mc=ExtBanner

Even if I hated bitcoin or didn't know anything about it, 10% off would get me motivated to use it. Anyone selling right now is crazy.

[aminorex]

Newegg just ran an ad in Diggs daily email - 10% anything (up to $100) on Newegg if you use bitcoin!

http://promotions.newegg.com/nepro/14-3631/index.html?cm_mmc=BAC-Digg-Bitcoin-Promotion-_-NA-_-NA-_-NA&nm_mc=ExtBanner

Even if I hated bitcoin or didn't know anything about it, 10% off would get me motivated to use it. Anyone selling right now is crazy.

10% discount should be standard.  Retailers must save at least that much on swipe fees and chargebacks. (Rents and seignorage.)

[Torque]

Even if I hated bitcoin or didn't know anything about it, 10% off would get me motivated to use it. Anyone selling right now is crazy.

There is a unintentional irony to this statement.  Tell NewEgg not to sell a single bitcoin for fiat, lol.

[wachtwoord]

Even if I hated bitcoin or didn't know anything about it, 10% off would get me motivated to use it. Anyone selling right now is crazy.

There is a unintentional irony to this statement, lol.

Use Bitcoin to buy but immediately replace? Make sure the bad many (fiat) flows away while the good money grows or stays constant. It might be a paradox but it's definitely not irony

[mmitech]

Bitstamp is not working for me.... anyone else having the same problem ?

[Richy_T]

*Nascent Rpietilla obsession snipped*

The mocked becomes the mocker.

[Richy_T]

and hello Gordon  
*snip*

Hey look, if I ignore you, I can probably continue reading at work without a visit from HR. After being on this site for 20 months or so, welcome to being the first and only person in my ignore list.

Those who quote him repeatedly likely to join him (at least add a width=200 to the image if you do so. Thumbnails not so bad)

[Richy_T]

Newegg just ran an ad in Diggs daily email - 10% anything (up to $100) on Newegg if you use bitcoin!

http://promotions.newegg.com/nepro/14-3631/index.html?cm_mmc=BAC-Digg-Bitcoin-Promotion-_-NA-_-NA-_-NA&nm_mc=ExtBanner

Even if I hated bitcoin or didn't know anything about it, 10% off would get me motivated to use it. Anyone selling right now is crazy.

Fantastic. I was waiting for 1000 for a new laptop but they have a discount on the one I want right now and now this. It's like Bitcoin being at 700. May have to bite.

[JorgeStolfi]

Therefore, those businesses are likely to increase supply in the market (by moving coins out of hoards to the market), rather than demand.  Basically, they induce holders to sell, and make it convenient to do so.  Are they also inducing non-bitcoiners to buy bitcoin? It is not obvious: if you had dollars and no bitcoins, why would you choose to pay with bitcoin?

I did not expect the "using bitcoin kills bitcoin" argument from you, I thought you were a little better than that.

And I did not expect to have that observation (which is not mine, many bitcoiners have been saying so) replaced by a completely different statement in order to dismiss it.
 
I will give you an example. Suppose @JorgeStolfi is in the US and decides to buy a fancy 3000$ laptop. He can send 3000$ to the merchant; or he can send 3000$ to Bitstamp to buy 5 BTC, then send the BTC to BitPay and have them send the 3000$ to the merchant.  Which one will he choose?

Now suppose it is @Aminorex who decides to buy that laptop.  He can send 3000$ to the merchant, or he can get 5 BTC from his holding, that he mined for pennies in 2010, and send them to Bitpay, who would send 3000$ to the merchant.  Which one would he choose?

(And Bitpay then would sell @Aminorex's 5 BTC on the market, where they would be bought by @SroomsKit with his 3000$ which cost him many baked potato dinners. So, simplifying the equations, @ShroomsKit would pay for @Aminorex's  laptop; but maybe one day he will get his money back, and more, from some other optimistic investor...)

[MoreFun]

Newegg just ran an ad in Diggs daily email - 10% anything (up to $100) on Newegg if you use bitcoin!

http://promotions.newegg.com/nepro/14-3631/index.html?cm_mmc=BAC-Digg-Bitcoin-Promotion-_-NA-_-NA-_-NA&nm_mc=ExtBanner

Even if I hated bitcoin or didn't know anything about it, 10% off would get me motivated to use it. Anyone selling right now is crazy.

Fantastic. I was waiting for 1000 for a new laptop but they have a discount on the one I want right now and now this. It's like Bitcoin being at 700. May have to bite.

FYI this is $10 discount for $500 - $1k notebook. 10% to max $100. Overal 1-2%.

[Richy_T]

Bearish

[adamstgBit]

Newegg just ran an ad in Diggs daily email - 10% anything (up to $100) on Newegg if you use bitcoin!

http://promotions.newegg.com/nepro/14-3631/index.html?cm_mmc=BAC-Digg-Bitcoin-Promotion-_-NA-_-NA-_-NA&nm_mc=ExtBanner

Even if I hated bitcoin or didn't know anything about it, 10% off would get me motivated to use it. Anyone selling right now is crazy.

Fantastic. I was waiting for 1000 for a new laptop but they have a discount on the one I want right now and now this. It's like Bitcoin being at 700. May have to bite.

now if only newegg.ca could get a clue that would be gr8.

pretty sure i read they would soon get around to adding bitcoin to newegg.ca, i imagine ill buy a few things when they do... maybe i should pick up a few bits now... hmmm