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

[grappa_barricata]

Personally i find all this bull/bear dichotomy utterly ridiculous.
Either you are here because you believe in the potential of the technology, or you are here because you are interested in the markets.
In the former 'bull' is the only appropriate description. In the latter the description is meaningless.

[JayJuanGee]

@JayJuanGee

did you turn bear?

I remain a buydler and a hodler...   

However, I just get a little bit too worked up, from time to time, when there are posts that seem to be purposefully based on incorrect information - even if the information happens to be bullish.   

In that regard, there is NO credible news or information that Coinbase is making some major or large purchase of BTC in the next 1 or 2 days.  If there is such news, I would like to hear what that is (besides the message that they provided to users on Sunday about being out of BTC). 

ok just checking...

and thank you for correcting any misinterpretations of things.

there's some truth to it, coinbase did run out.

Instead of pausing buys entirely, we decided to give people the option to purchase bitcoin at the market price in a few days. Once your USD funds arrive, we will exchange them to bitcoin at the market price at approximately Friday Aug 22, 2014 at 11:04PM PDT.

I received that same message from coinbase, too.  It is a standard message that Coinbase sends out when they run out of coins.  Frequently, such a similar message will last for shorter periods, but on Sunday morning, the message remained for nearly 5-6 hours b/c coinbase was out of coins for that whole period of time.  But that message in NO way implies that coinbase was going to stock up on coins on friday, August 22.... In fact Coinbase could obtain coins anytime between Sunday (when they ran out) and the friday August 22 (when they promised to have sufficient coins available for purchase).

[kodtycoon]

Explanation

Dang! Another hole, at the same time of this drop too... mmmmmm better switch paranoid mode off.

It's 3D model... you get it ?

what are the gaps in the chart about? iv never got what thats about?

[blaaaaacksuit]

i see dead bitcoins ... and dead bitcoin exchanges ... on falling prices too no less.

counterparty risk rising.

Care to elaborate?

[grappa_barricata]

Explanation

Dang! Another hole, at the same time of this drop too... mmmmmm better switch paranoid mode off.

It's 3D model... you get it ?

what are the gaps in the chart about? iv never got what thats about?

The depth in a side or another suddenly decrease, leaving a visible gap that then perspective make more evident.

[ChartBuddy]

Explanation

[oda.krell]

Personally i find all this bull/bear dichotomy utterly ridiculous.
Either you are here because you believe in the potential of the technology, or you are here because you are interested in the markets.
In the former 'bull' is the only appropriate description. In the latter the description is meaningless.

It is a useless dichotomy if you try to fit everyone (or every post) into it. However, there are posters in here that I believe genuinely fall into one of the two categories, in the sense that their position (at least as they express it in here) doesn't change one bit no matter what actually happens in reality. I feel it makes sense to refer to those as "bulls" or "bears" respectively.

[JayJuanGee]

No its not sad, its just typical. Greed caused them to miss the good buying opportunity and now they dwell in delusion that it was not a greed but a "smart move" to wait. Deep inside they are shaking in fear, but mask it with retarded smiley spamming ( etc.) to fake confidence.

The same could be said about the most aggressive of bulls during a price decline and subsequent flash crash, no?

Same denial, same greed, just applied in the opposite direction.

You frequently come out with these equivalency arguments, which are largely overstated.

Bears and bulls are NOT the same (opposites). Even though there may be some truth to your assertions of equivalency, that seems to be much too simplistic of the difference description.

Well, that's how I see the two sides. I somewhat prefer the (positively oriented) enthusiasm of the real bulls over the feigned concerns of the fake bears (who only plan to re-buy cheaper), but that wasn't the point I made -  I pointed out that both the self proclaimed bulls and the obvious bears regularly show extreme greediness, and both often appear delusional if the market runs against their position. That's the similarity I see, but feel free to exclude yourself from the observation if you believe you don't act like that.

O.k.  Fair point about the observation NOT necessarily applying to everyone of either category. 

By the way, I am NOT responding based on any personal offense.. just my thoughts about over generalizations.

[JayJuanGee]

[...]and dead bitcoin exchanges[...]

i definitly agree to that, but soon we will have decentralized exchanges popping up everywhere x)

Don't hold your breath!!!!   

[adamstgBit]

you can't take anything said here seriously

its a troll box.

an escape where like minded people come up chit chat about bitcoin.

sometimes the discussions are serious, but more often its just for shits and giggles  

[adamstgBit]

market should hold here for a while clearly its a sticky price.

place your bets!

[adamstgBit]

who votes "wait what you guys like coins?"

[ChartBuddy]

Explanation

[thefunkybits]

market should hold here for a while clearly its a sticky price.

place your bets!

Indeed! the stability here is a great sign

I still think a retest of $500 is entirely possible this weekend though...

[grappa_barricata]

If i go to sleep i know this will happen:

So, profit taken, and good night!

[adamstgBit]

market should hold here for a while clearly its a sticky price.

place your bets!

Indeed! the stability here is a great sign

I still think a retest of $500 is entirely possible this weekend though...

but coinbase should have a fresh wad of fiat ready to go and taking orders again, tomorrow.
and this is the settled price for the whale eat whale move we just had, moving away in any direction seems unlikely, we maybe stuck here so long as vol keeps coming.

[Walsoraj]

adam, you nazi. stop deleting my posts.

[ChartBuddy]

Explanation

[JayJuanGee]

If i go to sleep i know this will happen:

So, profit taken, and good night!

Scary sleeping in fiat... at least for me, but to each his/her own.

[JayJuanGee]

market should hold here for a while clearly its a sticky price.

place your bets!

Indeed! the stability here is a great sign

I still think a retest of $500 is entirely possible this weekend though...

but coinbase should have a fresh wad of fiat ready to go and taking orders again, tomorrow.
and this is the settled price for the whale eat whale move we just had, moving away in any direction seems unlikely, we maybe stuck here so long as vol keeps coming.

You see Adam..... this is part of the problem and misunderstanding regarding the Coinbase situation, and you seem to be continuing to misunderstand the Coinbase situation too.... b/c I don't see you as someone who spreads FUD and misinformation, unless you are joking around...   HERE, you do not appear to be joking.   


My point is this:  Coinbase ran out of coins between about 10pm Eastern Standard time (in the US) Saturday August 16 and 4 am Eastern Standard time (in the US) Sunday August 17, and during that time they communicated to their customers that they could guarantee coins on Friday August 22 (at whatever time of the day that the customer had attempted to buy BTC through coinbase). 

At about 4 am Eastern Standard time (in the US) Sunday August 17, Coinbase acquired more BTC for sale, and it has NOT run out of coins since then.  Accordingly, Coinbase has been selling BTC to customers all fricking week... without any further shortage.  So there is NO obvious need for them to purchase and to make any additional coins available on this friday, August 22 (at least no public mention of such).  Hopefully this explanation helps.