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

[HarmonLi]

Is it time for today's pump and dump? Looks like it.
Make sure to buy at 595 and dump at 588.

Maybe you should start daytrading those fluctuations in order profit form them if you are so sure that we'll be stuck in this channel forever

[Sandia]

Is it time for today's pump and dump? Looks like it.
Make sure to buy at 595 and dump at 588.

Maybe you should start daytrading those fluctuations in order profit form them if you are so sure that we'll be stuck in this channel forever

I was so bored last week that I did that (correctly, though).  Made $100 in 5 trades, over 5 days, bought a piece of a btc.  The exchange made more than I did.

Boredom makes me do stupid things.

[ChartBuddy]

Explanation

[empowering]

I send regular messages to companies that I use, that I would like to add Bitcoin (did so with Dell, Expedia, along with quite a few other people it seems...) asking them when (not if) they will start to accept BTC as a payment method..  I also have sent messages to countless other companies, inc BMW, Virgin Atlantic,Tesco online, Easy jet, E-bay, and on and on... but also Amazon.... sent them several messages from 3 different accounts... and not ever had a reply from Amazon until today....- a fob off really, nothing to write home about I know... but... maybe a few more people should give them a nudge..

"so that they can make arrangements to add Bitcoin as payment option soon."  oh you tease!!


Reply =

Hello,

Thanks for contacting us with your concern.

Currently, We don't accept Bitcoin as a payment method on our website at this time.

We accept credit cards, debit cards, payment from U.S. checking accounts, Amazon.com Gift Cards, Amazon Payments Stored Balance, and the Amazon.com Store Card. Here are the credit cards we accept:

-- American Express
-- Diner's Club (U.S. billing addresses only)
-- Discover
-- MasterCard
-- Visa, Visa Electron, and Visa Check Cards
-- Eurocard
-- JCB
-- NYCE
-- STAR
-- China UnionPay (credit card only)

You can learn more about these payment methods on our Help pages:

http://www.amazon.com/gp/help/customer/display.html/?nodeId=513058

I will be sure to pass your message on to the appropriate department in our company for consideration so that they can make arrangements to add Bitcoin as payment option soon.

Customer feedback like yours is very important in helping us continue to improve the selection and service we provide.

We look forward to seeing you again soon.

Best regards,

SO

It is only a tiny action, but maybe if thousands and thousands of people ask... then..... they will add BTC all the sooner .... and yes I realise they have their own in house system and I realise they may not be properly incentivised as of yet... however... if you have not done so already...do it anyway...get in touch... e-mail them, call them, tweet them.

I personally buy a lot of stuff from Amazon... and would love to see them accept BTC.


e-mail them, call them, tweet them, write them.

Get on it!

: )


and yes it is but a drop in the ocean.... but still does not mean that we could make a wave...

[mooncake]

The volume is pathetic. The price is flat. Whoever is the manipulator has done a really good job. We need to give credit where it is due. 

[Sandia]

Bitstamp H/L range for today is $3.88.

Personally, I thought the Visa comment and the Global Payments announcement were huge news.  No one seems to have cared; a few months ago, it would have caused a huge rally.

[HarmonLi]

I send regular messages to companies that I use, that I would like to add Bitcoin (did so with Dell, Expedia, along with quite a few other people it seems...) asking them when (not if) they will start to accept BTC as a payment method..  I also have sent messages to countless other companies, inc BMW, Virgin Atlantic,Tesco online, Easy jet, E-bay, and on and on... but also Amazon.... sent them several messages from 3 different accounts... and not ever had a reply from Amazon until today....- a fob off really, nothing to write home about I know... but... maybe a few more people should give them a nudge..

Many people will shun you, but I think it is a good thing to do and if really a lot of people are doing this, we might very well get those companies to accept bitcoin at some point! Amazon would, undoubtedly be the biggest player we could get into accepting it. It's the online department store! Man, this would kickstart this rocket to Pluto!

[oda.krell]

Surprised by how well the Metcalfe's law price assumption works, for example when comparing the previous "plateau" phase (~100 USD) and the current one.

Looking at number of transactions (excluding 100 popular addresses), comparing the August 2013 average (25k) to the August 2013 average (60k), we get: ((60/25)^2)*100 = 576 USD.

Close enough, no?

[Threebits]

Fresh money is needed but there hasn't been enough than fresh coin supply. How do I get that conclusion? Not really I am in a position to occlude anything but that is my agreement with one of the sayings.

How TA would tell where we probably go and for how long?

[HarmonLi]

Surprised by how well the Metcalfe's law price assumption works, for example when comparing the previous "plateau" phase (~100 USD) and the current one.

Looking at number of transactions (excluding 100 popular addresses), comparing the August 2013 average (25k) to the August 2013 average (60k), we get: ((60/25)^2)*100 = 576 USD.

Close enough, no?

Wow, really? So we'd need an increase in transactions now, right? (Aren't we already seeing one for a few weeks???) But what about the prediction that according to the transactions we should be at $2k already? I guess I've seen that around here somewhere...

[ChartBuddy]

Explanation

[DjPxH]

Less than a month after it first began accepting bitcoin, Dell has received a 85 BTC (over $50,000) order for a PowerEdge server order.

http://www.coindesk.com/dell-receives-50k-server-order-bitcoin/

That doesn't sound like it's a lot of money for Dell. I think it's a great thing that order has been made using Bitcoin, but it isn't an order out of the ordinary for Dell, I guess, right?

[Kipsy89]

So, we've seen the dump of the day, friends! Maaan, what a slow start into the week! I wanna see some breakout action up to the north! Come on Bitcoin, just get into the groove and up we go!

[Peter R]

Surprised by how well the Metcalfe's law price assumption works, for example when comparing the previous "plateau" phase (~100 USD) and the current one.

Looking at number of transactions (excluding 100 popular addresses), comparing the August 2013 average (25k) to the August 2013 average (60k), we get: ((60/25)^2)*100 = 576 USD.

Close enough, no?

Wow, really? So we'd need an increase in transactions now, right? (Aren't we already seeing one for a few weeks???) But what about the prediction that according to the transactions we should be at $2k already? I guess I've seen that around here somewhere...

Here's the latest chart (updated just now):

[DjPxH]

Massive dump on Stamp, panic everyone! Which exchange started it, does anyone know? Wow what a sad beginning for this week, in which so many people put their hopes and dreams in!

[cdooer]

Less than a month after it first began accepting bitcoin, Dell has received a 85 BTC (over $50,000) order for a PowerEdge server order.

http://www.coindesk.com/dell-receives-50k-server-order-bitcoin/

That doesn't sound like it's a lot of money for Dell. I think it's a great thing that order has been made using Bitcoin, but it isn't an order out of the ordinary for Dell, I guess, right?

I think what makes it a little different, or even worth reporting on is that the order isn't for standard stuff Bitcoiner's would normally buy, like laptops, etc. Since its a $50K order for a server, its more likely to be a business spending the BTC rather than the typical user. Maybe some of the vendors who are accepting BTC aren't converting all of it directly to fiat after all.

[HarmonLi]

Surprised by how well the Metcalfe's law price assumption works, for example when comparing the previous "plateau" phase (~100 USD) and the current one.

Looking at number of transactions (excluding 100 popular addresses), comparing the August 2013 average (25k) to the August 2013 average (60k), we get: ((60/25)^2)*100 = 576 USD.

Close enough, no?

Wow, really? So we'd need an increase in transactions now, right? (Aren't we already seeing one for a few weeks???) But what about the prediction that according to the transactions we should be at $2k already? I guess I've seen that around here somewhere...

Here's the latest chart (updated just now):

Ah thanks a lot! That really looks interesting! I'm wondering, though... According to this chart, wouldn't we still need to increase the number of transactions, to even account for the current price???

[Schickeria]

Massive dump on Stamp, panic everyone! Which exchange started it, does anyone know? Wow what a sad beginning for this week, in which so many people put their hopes and dreams in!

Yes. Bitcoin is actually in a period of massive pump & dump, this rollercoaster is making me sick.

I would prefer a chart that looks like the surface of a neutron star.

[Bagatell]

I would prefer a chart that looks like the surface of a neutron star.

Zoom out.



https://www.dropbox.com/s/pvbihq5qsq4azph/Screenshot%202014-08-11%2017.38.49.png

[oda.krell]

Surprised by how well the Metcalfe's law price assumption works, for example when comparing the previous "plateau" phase (~100 USD) and the current one.

Looking at number of transactions (excluding 100 popular addresses), comparing the August 2013 average (25k) to the August 2013 average (60k), we get: ((60/25)^2)*100 = 576 USD.

Close enough, no?

Wow, really? So we'd need an increase in transactions now, right? (Aren't we already seeing one for a few weeks???) But what about the prediction that according to the transactions we should be at $2k already? I guess I've seen that around here somewhere...

You should keep two things separate: how well the data is modeled, and how well the model predicts future data.

For example, you'll note that the local peaks of the transactions (early 2013, late 2013) come well after the peak in price. And how to extrapolate from the transaction graph into the future is an entirely different question, imo.

I picked the "plateau" phases on purpose. In my opinion, the price of around $100 last year was an important milestone. Took the market a while to understand that we won't go below it again for any substantial amount of time, but also that it takes some time to go above it.

Feels similar now, with 500s instead of low 100s.

(Subjective argumentation above, I know... Dismiss it freely )