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

[molecular]

Wow team, you all must really be depressed to refuse to write anything in the midst of a 2000 coin Chinese pump (which doesn't even get us close to where we were, yesterday, but still). Cheer up!!

Unfortunately looks like the bounce may already be failing. Seems we may go back to retest the low from last night/this morning. I'd like to be bullish, as I am all in, but that drop yesterday caught me off guard.

I'm not ruling that out, but it doesn't necessarily look like that to me:

[Muhammed Zakir]

Wow team, you all must really be depressed to refuse to write anything in the midst of a 2000 coin Chinese pump (which doesn't even get us close to where we were, yesterday, but still). Cheer up!!

Unfortunately looks like the bounce may already be failing. Seems we may go back to retest the low from last night/this morning. I'd like to be bullish, as I am all in, but that drop yesterday caught me off guard.

See the coindesk news. Explained greatly. You can see a part of that in the above post of mine.

Kindly,
      MZ

[ChartBuddy]

Explanation

[bassclef]

Wow team, you all must really be depressed to refuse to write anything in the midst of a 2000 coin Chinese pump (which doesn't even get us close to where we were, yesterday, but still). Cheer up!!

Unfortunately looks like the bounce may already be failing. Seems we may go back to retest the low from last night/this morning. I'd like to be bullish, as I am all in, but that drop yesterday caught me off guard.

I'm not ruling that out, but it doesn't necessarily look like that to me:

That's because you're looking at a 5 minute chart of what could very well be a bull trap.

[Newbie1022]

Order books look more balanced... seems the crowd is favoring a bounce back, but who the hell knows what the whales are planning.

[ShameOnYou]

Wow team, you all must really be depressed to refuse to write anything in the midst of a 2000 coin Chinese pump (which doesn't even get us close to where we were, yesterday, but still). Cheer up!!

Unfortunately looks like the bounce may already be failing. Seems we may go back to retest the low from last night/this morning. I'd like to be bullish, as I am all in, but that drop yesterday caught me off guard.

See the coindesk news. Explained greatly. You can see a part of that in the above post of mine.

Kindly,
      MZ

Did you see the other Coindesk news? http://www.coindesk.com/ecuador-bans-bitcoin-legislative-vote/

The National Assembly of Ecuador has effectively banned bitcoin and decentralized digital currencies while establishing guidelines for the creation of a new, state-run currency.

I know Ecuador isn't a particularly influential place on the rest of the world, but it's not the most bullish news in the world. Yeah, yeah, anti-fragile and all that.

[ShameOnYou]

Order books look more balanced... seems the crowd is favoring a bounce back, but who the hell knows what the whales are planning.

Volume on that drop wasn't even very impressive (at least looking at Huobi....that's where I pay the most attention). But if you look at momentum, like 1hr RSI, straight down to hell. It worries me not to see much fight on the way down, so even low volume dumps look more significant than they might really be (at least from a volume-weighted perspective).

[seljo]

So someone dumped 7k + koinz and price dropped to 600. I can't think of anyone who gathered 7k btc out of thin air and dump them somewhere for fiat, oh wait Ethereum?

[cmacwiz]

lol at the ecuador news. No offense to Ecuador, but....

Also people say Etherium is dumping or something? Anyone wanna give me a quick tl;dr? People associated with etherium project are dumping BTC for fiat, why?

[JorgeStolfi]

Did you see the other Coindesk news? http://www.coindesk.com/ecuador-bans-bitcoin-legislative-vote/

The National Assembly of Ecuador has effectively banned bitcoin and decentralized digital currencies while establishing guidelines for the creation of a new, state-run currency.

I know Ecuador isn't a particularly influential place on the rest of the world, but it's not the most bullish news in the world. Yeah, yeah, anti-fragile and all that.

Ecuador may not be a technology hub, but the current government seems to be smarter than average about cyberthings.  Ecuador gave asylum to Assange, for example, while many other countries that should have helped him (including Brazil) were still uncertain about their view of Wikileaks. 

The policy of Brazil and other LA countries towards bitcoin seems to be "er, we don't understand it well, let's follow the US and hope it works out".   And the US is strangely sympathetic to bitcoin, I wonder why.  However Brazil, like most countries, has laws that prohibit the use of currencies other than the Real in retail commerce and other contexts.  It is likely those countries will some day apply those laws to crypto, too.

Ecuador is just ahead of them in having a plan for a national digital currency.  In my understanding, that prmompted them to explicily restate those laws for digital currencies too.

[JayJuanGee]

my guess, is these plays are confirming bear whale manipulation. Trying to create panic out of thin air since we've been off the react to China tip for a while now.

Again I feel things like Coinsetter, Circle going live will bring more buyers who just weren't ready to buy, yet! And Barry going full-time exchange operator bodes well for the competitive atmosphere surrounding the race for an industry standard bitcoin exchange.

Coinsetter:  I have NOT used Coinsetter, but from the website, it appears as if it is already live.  I saw that there was a .25% trading fee, but I could NOT figure out the fee, if any to deposit fiat or to cash out to fiat.

Circle: About two months ago, I requested an invitation, and I have received a couple of acknowledgement e-mails from them.  I have NOT received any invitation.   I recall seeing a couple of pieces of information about Circle. First, it appears that there has been some use of Circle (but I cannot recall where I saw this information), and I do NOT know who has used Circle to make any transactions.  Second, I recall reading some article (also, I cannot recall the article) that Circle would be sending out a large number of invitations in late July or early August.  I am still waiting for such invitation, as I already mentioned. 

I have a Circle account. Got my invite yesterday.

I just checked my back e-mails to verify whether I missed something, and it appears that I have only received two e-mails from Circle.  I received one e-mail from Circle on 5/27 acknowledging that they had received my request for an invite, and I received a second e-mail on 6/4 providing me a status update.

Maybe I will get my invite from Circle within the coming days?   Or maybe within the coming weeks?

Chalkbot:  When did you request your invite?  Do you recall?   Did you make your request before May 27?

[JayJuanGee]

Did you see the other Coindesk news? http://www.coindesk.com/ecuador-bans-bitcoin-legislative-vote/

The National Assembly of Ecuador has effectively banned bitcoin and decentralized digital currencies while establishing guidelines for the creation of a new, state-run currency.

I know Ecuador isn't a particularly influential place on the rest of the world, but it's not the most bullish news in the world. Yeah, yeah, anti-fragile and all that.

Ecuador may not be a technology hub, but the current government seems to be smarter than average about cyberthings.  Ecuador gave asylum to Assange, for example, while many other countries that should have helped him (including Brazil) were still uncertain about their view of Wikileaks. 

The policy of Brazil and other LA countries towards bitcoin seems to be "er, we don't understand it well, let's follow the US and hope it works out".   And the US is strangely sympathetic to bitcoin, I wonder why.  However Brazil, like most countries, has laws that prohibit the use of currencies other than the Real in retail commerce and other contexts.  It is likely those countries will some day apply those laws to crypto, too.

Ecuador is just ahead of them in having a plan for a national digital currency.  In my understanding, that prmompted them to explicily restate those laws for digital currencies too.

Your post is internally contradictory.  In my thinking, it does NOT make sense to say that Ecuador is lock step with the USA, and that they gave asylum to Assange. 

[JorgeStolfi]

Your post is internally contradictory.  In my thinking, it does NOT make sense to say that Ecuador is lock step with the USA, and that they gave asylum to Assange. 

Sorry if it sounded that way.  I meant other LA countries except Ecuador are just "let's wait and see what the US does".

[ChartBuddy]

Explanation

[hmmmstrange]

Fantom author=Chalkbot link=topic=178336.msg8013609#msg8013609 date=1406262494]

my guess, is these plays are confirming bear whale manipulation. Trying to create panic out of thin air since we've been off the react to China tip for a while now.

Again I feel things like Coinsetter, Circle going live will bring more buyers who just weren't ready to buy, yet! And Barry going full-time exchange operator bodes well for the competitive atmosphere surrounding the race for an industry standard bitcoin exchange.

Coinsetter:  I have NOT used Coinsetter, but from the website, it appears as if it is already live.  I saw that there was a .25% trading fee, but I could NOT figure out the fee, if any to deposit fiat or to cash out to fiat.

Circle: About two months ago, I requested an invitation, and I have received a couple of acknowledgement e-mails from them.  I have NOT received any invitation.   I recall seeing a couple of pieces of information about Circle. First, it appears that there has been some use of Circle (but I cannot recall where I saw this information), and I do NOT know who has used Circle to make any transactions.  Second, I recall reading some article (also, I cannot recall the article) that Circle would be sending out a large number of invitations in late July or early August.  I am still waiting for such invitation, as I already mentioned. 

I have a Circle account. Got my invite yesterday.

Make sure never to say bomb, drugs or terrorism in any message fields or emails, just saying.
[/quote]

Probably should never reply to a post with those words either.

[molecular]

Wow team, you all must really be depressed to refuse to write anything in the midst of a 2000 coin Chinese pump (which doesn't even get us close to where we were, yesterday, but still). Cheer up!!

Unfortunately looks like the bounce may already be failing. Seems we may go back to retest the low from last night/this morning. I'd like to be bullish, as I am all in, but that drop yesterday caught me off guard.

I'm not ruling that out, but it doesn't necessarily look like that to me:

That's because you're looking at a 5 minute chart of what could very well be a bull trap.

I stand corrected.

[Dotto]

Traps, traps everywhere

[JayJuanGee]

What a complete jerk Mike Hearn is:

http://www.reddit.com/r/Bitcoin/comments/2blmc0/circle_has_still_not_responded_to_peter_todd/

Maybe some of the internal turmoil within the bitcoin foundation contributes to some downward price pressures on bitcoin?

There are real concerns regarding whether aspects of the core development team are too receptive to governmental regulations (and questions about allow back door access to govt and that is why the USA is NOT hostile to BTC). 

There are also real concerns that the wealth of the bitcoin foundation ($5million in assets), which really is NOT very much, is insufficiently contributing to bitcoin developments.

[JayJuanGee]

Your post is internally contradictory.  In my thinking, it does NOT make sense to say that Ecuador is lock step with the USA, and that they gave asylum to Assange. 

Sorry if it sounded that way.  I meant other LA countries except Ecuador are just "let's wait and see what the US does".

O.k.  Thanks for that clarification.  I may have misread or misunderstood your post.

NONETHELESS, I remain of the sense that we cannot be throwing out blanket statements to suggest that Ecuador is "ahead" of the rest.

In the coming years, there is probably going to be a lot of conflicting approaches regarding the role, if any, for crypto-currencies.

[oda.krell]

I am a hero now. Bow before me, lesser mortals!



*cough* Sorry for that.

As you were...