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Question: How far will this leg take us?
$110K - 9 (8.3%)
$120K - 19 (17.6%)
$130K - 17 (15.7%)
$140K - 9 (8.3%)
$150K - 19 (17.6%)
$160K - 2 (1.9%)
$170K+ - 33 (30.6%)
Total Voters: 108

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26836502 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 1 users with 9 merit deleted.)
gnode
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August 28, 2014, 10:03:01 PM

Maybe the Winklevoss twins are selling because they know the ETF will not be approved?
Yololintian
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August 28, 2014, 10:07:34 PM

Hey guise! Did u happen to notice that huge bid wall at 506 on bitstamp? It must be miners trying to manipulate the price up so they can sell their coins for a lot more than they are worth OTC. There's no other explanation that makes sense.
esse83
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August 28, 2014, 10:09:02 PM

Maybe the Winklevoss twins are selling because they know the ETF will not be approved?

Maybe this or maybe that, who cares. The price will keep going down for the rest of the year.
kryptopojken
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August 28, 2014, 10:10:21 PM

Maybe the Winklevoss twins are selling because they know the ETF will not be approved?

Maybe this or maybe that, who cares. The price will keep going down for the rest of the year. In december you will all salivate over selling it at $500.

I really disagree. However it does look pretty nasty super short term
xyzzy099
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August 28, 2014, 10:26:26 PM

Probably Chaum I had in mind, and probably: http://en.wikipedia.org/wiki/Scantegrity

Simplified protocol: http://www.lbd.dcc.ufmg.br/colecoes/wseg/2004/016.pdf


Neither of which will probably work for at-home voting scenarios. Sorry to get your hopes up, guys :/

These guys seem to be working on some zero-knowledge-proof solution, but it's hard to dig out any details from he site.  I think the project may still be pretty immature:

http://www.bitcongress.org/
adamstgBit
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August 28, 2014, 10:32:37 PM


i thought after 5K coins traded at this level the walls would get busted one way or another, but no... we've traded over 10K now and still no movement...


On Stamp? 10K?  In what time period?

(still catching up on posts)

the 12hour period we talked about.
illyiller
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August 28, 2014, 10:38:42 PM

if the walls were to market sell, the price would barely go down $10 lol , not exactly scary.

It's not the initial price drop that is scary. What is scary is what comes after. We are in a tight range, and once a market maker chooses the direction, the traders will follow.
creekbore
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August 28, 2014, 10:40:19 PM


i thought after 5K coins traded at this level the walls would get busted one way or another, but no... we've traded over 10K now and still no movement...


On Stamp? 10K?  In what time period?

(still catching up on posts)

the 12hour period we talked about.

In the 12hour period we were talking about the volume was about 3K on Stamp.
bigdave
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August 28, 2014, 10:40:51 PM

If we had volume these walls would be nothing. Right now its pathetic.
adamstgBit
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August 28, 2014, 10:43:11 PM


i thought after 5K coins traded at this level the walls would get busted one way or another, but no... we've traded over 10K now and still no movement...


On Stamp? 10K?  In what time period?

(still catching up on posts)

the 12hour period we talked about.

In the 12hour period we were talking about the volume was about 3K on Stamp.



i count 4.2K


i think the point i made was proven right... walls are nothing compared to the actual vol that happens in front of them.

gnode
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August 28, 2014, 10:51:19 PM

It looks like this is just an accumulation game. Stick up sell walls and buy everything that people put up for sell right below the walls.
fonzie
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August 28, 2014, 10:52:49 PM

Will/Can China rape the wall guy?
adamstgBit
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August 28, 2014, 10:54:22 PM

stay tuned and find out

shes gonna pop tonight i can feeeeel it
ChartBuddy
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August 28, 2014, 10:59:32 PM


Explanation
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August 28, 2014, 11:00:21 PM

hd060053
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August 28, 2014, 11:00:42 PM

not funny that such "small" walls have so much weight. 1 year ago, there were >10k walls on gox, this was really entertaining Smiley
adamstgBit
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August 28, 2014, 11:04:55 PM


i thought after 5K coins traded at this level the walls would get busted one way or another, but no... we've traded over 10K now and still no movement...


On Stamp? 10K?  In what time period?

(still catching up on posts)

the 12hour period we talked about.

In the 12hour period we were talking about the volume was about 3K on Stamp.



i count 4.2K


i think the point i made was proven right... walls are nothing compared to the actual vol that happens in front of them.



I was totting up across the 15 min chart on wisdom....still early here and a bad night's sleep ...doh.  But if you take the precise time on the hourly the volume goes down to under 4K.

Anyway, I still disagree with your initial statement that "depth is meaningless". 
Also worth noting that the wall at 515 increased from its initial size.

Either way, volume continues and the walls ain't moving brother Smiley

ya meaningless is not the right word, wtv, I just think no one should let walls push them around, they can disappear, move, get destroyed pretty fast.
dannyspk
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August 28, 2014, 11:05:50 PM

Houbi.  Undecided
JorgeStolfi
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August 28, 2014, 11:09:10 PM

1.  Assume a magical black box which, when the "press" button is pressed, prints out the *exact* result of an election.  Also assume that it is the definitive Black Box--while the result is [by definition] invariably correct, no one knows how it works.  It's a hypothetical, accept everything above as a given. What do you think the odds of such a thing becoming the accepted method of national elections?  

Well, that is almost a perfect description of the current Brazilian voting machine.  What it prints is the exact result of the election on that voting section, by definition... of the Supreme Electoral Tribunal, who has the last word on the matter, as absurd as it may be.  It was instituted in 1996 with great fanfare, before the people could be made aware of the huge risk (malicious software stealing, say 10% of the votes on every one of the 400'000 voting sections).   The people is slowly getting wiser, but it may be another decade before the TSE is forced to replace it.
 
3.  Recounts.  There is little to suggest that a recount in conventional elections would produce results more accurate than the initial tallying.  But it makes people feel better.  Those tangible slips of paper, as ridiculous and flawed as they are, are used even when a purely digital apparatus recording choices directly from a keyboard to electronic storage (like a hugely-redundant RAID or something) would be cheaper, more convenient, and [provably] more reliable.  Go figure, but that's how it is.

They are not ridiculous at all.  With a purely digital system, a well-placed insider can steal votes on a national scale, without leaving any evidence.  With a paper-only system, ballot boxes can be stuffed or tampered locally while no one is looking.  With both, fraud becomes much, much harder: the fraudster would have to hack the software before the election, and then physically tamper with every ballot box after the election, replacing the paper ballots to exactly match the totals chosen by the software.   Thus the combination of the two systems is considerably more secure than each system could be by itself.

Ideally, every voting section should count the paper ballots immediately after the election closes.  If the totals don't match, there should be an investigation, but neither should be assumed to be more correct than the other.  If the differnce is considerd significant, the votes in that section should be invalidated and everybody who voted there should  vote again.  If that happens at more than a few sections, then a global digital fraud should be suspected and the entire election should be redone.
jonoiv
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August 28, 2014, 11:11:15 PM


As there is a good chance many of the asics are already run at a loss.  


This is statement is unfounded at all. Electricity could be very cheap in some part of China

Quote
Maybe it's real but I don't buy it. Especailly as if "secret" in China, it would send out a massive heat signature and the authorities would think they are growing cannabis in those buildings.  

So what? The police will just find a computer farm instead of a cannabis farm.

http://translate.google.co.uk/translate?hl=en&sl=zh-CN&u=http://www.360doc.com/relevant/212102353_more.shtml&prev=/search%3Fq%3D%25E4%25B8%25AD%25E5%259C%258B%25E9%259B%25BB%25E5%258A%259B%25E6%2588%2590%25E6%259C%25AC%26client%3Dfirefox-a%26hs%3Dzmj%26rls%3Dorg.mozilla:en-US:official%26channel%3Drcs

1.00 USD    =    6.14322 CNY

1 CNY = 0.16 cent

very low cost electricy in china is about 0.5 CNY (8 cent per KW/h)

even if the price of EQ is $2000 per TH and it the most effienet machine @ 0.7 watts per GH then it's still run at a loss and at current rates would never break even.  Even if the EQ was free, and it's the most efficient Asic available it would still only be making $12 a month by December (at current difficulty increase).   Similar conditions (only more extreme) than October last year.  BTC is very undervalued.


As for the authorities, finding such an operation I suspect the tax man might be interested, I doubt they would just walk away after finding a 1/4 of a billion $ setup.  


Didn't you used to be a bear or at least frequently making bearish type comments?    Have you converted, or am I getting you mixed up with some other poster?

There was a point i thought it was game over for crypto.  around the time of the malleability and the gox balls up.  But I feel that it's moved on from there.  

I certainly not bearish at the moment.
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