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

[fonzie]

Watchin LTC  on OKcoin is so much fun, the liquidity over there sure is tempting,  their trading platform also  looks well designed and usable. I guess it´s not more risky to store coins over there than it is on BTC-E or Bitfinex? Has anyone ever tried it?

[JerryCurlzzz]

True but a sleeping chinese buy more bitcoin than EU awake

om nom nom nom the 2950 wall

Yep they are nom nomming in their sleep it seems! Now we have a mini bidwall at 2950, but not sure how long it will last. Not seeing any crazy panic buying yet.

Edit: so much for that mini bidwall...

[ChancellorOnABrink]

See you in 6h for a morning panicbuy

[magicmexican]

Probably small trap forming, unless its one of those "soft" bottoms, but its somewhat rare, i expect a big dump to retest 450 and below, the probability is too high.

[JimboToronto]

Sticky post in the Meta forum.  It is the lesser of the activity number (2 week periods with a post*14) and post count.

That's what I was going by.

A hundred posts a day won't get you any further ahead than a post every 2 weeks.

[ChartBuddy]

Explanation

[ChancellorOnABrink]

Probably small trap forming, unless its one of those "soft" bottoms, but its somewhat rare, i expect a big dump to retest 450 and below, the probability is too high.

Bitcoin sub 300€ ?

http://weknowmemes.com/generator/uploads/generated/g1333796051704892415.jpg

[grappa_barricata]

[JimboToronto]

Let's make a new rule in this thread.  Let's don't cheer and bring out rocket/moon photos ever time the price rises $5-10.  Mmmkay?

Of course that means no Teddy Bear Picnicking every time it drops $5-10. It's a 2-way street.

It's amazing how many people over-respond to small changes. When the price dipped recently from $505 to $485 some people were actually using the word "crash". LOL

[JorgeStolfi]

Jorge, when you refer to "the Chinese," do you mean their exchanges or fiat from Chinese traders, or both? I suspect any new fiat entering Chinese exchanges is from Coinbase. If that is the case, then the US is sustaining the price. Party ends when Coinbase runs out of options.

I mean the traders at the Chinese exchanges.  I suppose that they are still mostly Chinese citizens.

You say that one can deposit CNY into them through Coinbase?  Directly, or indirectly (Coinbase deposits at Bitstamp and arbitragers bring coins from China to sell there)?  The latter would generate volume at Bitstamp, which I don't see happening.  Or do you mean the international branches of Huobi and OKCoin?

If Coinbase is using the Chinese exchanges, when whould they have started?

[JorgeStolfi]

Isn't GABI supposed to be investing billions of dollars into bitcoin right now?

Does anyone know whether the Jersey regulations require that full status reports and/or independent audits of investment funds to be published periodically?  Or will those reports be available only to investors?

[ChartBuddy]

Explanation

[grappa_barricata]

I mean the traders at the Chinese exchanges.  I suppose that they are still mostly Chinese citizens.

You say that one can deposit CNY into them through Coinbase?  Directly, or indirectly (Coinbase deposits at Bitstamp and arbitragers bring coins from China to sell there)?  The latter would generate volume at Bitstamp, which I don't see happening.  Or do you mean the international branches of Huobi and OKCoin?

I guess the best way is to transfer bitcoin to your Huobi account, for example, and then trade there.

[lemonte]

Isn't GABI supposed to be investing billions of dollars into bitcoin right now?

Does anyone know whether the Jersey regulations require that full status reports and/or independent audits of investment funds to be published periodically?  Or will those reports be available only to investors?

Yawn.. Why do I have to keep repeating myself with this? They haven't even begun yet. It won't be until mid September/ beginning of October. Admittedly GABI should do a better job of publicising this fact

[Walsoraj]

Jorge, when you refer to "the Chinese," do you mean their exchanges or fiat from Chinese traders, or both? I suspect any new fiat entering Chinese exchanges is from Coinbase. If that is the case, then the US is sustaining the price. Party ends when Coinbase runs out of options.

I mean the traders at the Chinese exchanges.  I suppose that they are still mostly Chinese citizens.

You say that one can deposit CNY into them through Coinbase?  Directly, or indirectly (Coinbase deposits at Bitstamp and arbitragers bring coins from China to sell there)?  The latter would generate volume at Bitstamp, which I don't see happening.  Or do you mean the international branches of Huobi and OKCoin?

If Coinbase is using the Chinese exchanges, when whould they have started?

Yes, I meant the international branches.

Coinbase likely increased its usage of Chinese exchanges after Bitstamp stopped permitting withdrawals for businesses. Unclear exactly when that was. My guess is 2-3 months before Bitstamp severed its relationship with Unicredit Bank.

[oda.krell]

Currently on reddit's frontpage





A wizard burning some dirty fiat money?

That's it, boys! We made it to the frontpage of the Internet! We're mainstream now!

[Erdogan]

True but a sleeping chinese buy more bitcoin than EU awake

om nom nom nom the 2950 wall

This guy dumped 200 coins last night. At least, it is possible.

[JorgeStolfi]

Strange time of day to try to break the resistance (China sleep time )...

One official time zone but covering 5 real time zone... must be someone awake there imo

But I'm sure you've noticed how the markets consistently go dead every day around this time for ~ 8 hours or so. Have you not?
 

De discrepancy between daylight hours and the official work hours seems to be a common complaint in the westernmost parts of the country; the Uighur would like to have their timezone, for example.  But having justone timezone simplifies many things and presumably makes the economy more efficient (banks are open at the same hours everywhere, for example).

Huobi's volume usually goes strong until 01:00 am local time, drops to near zero between 03:00 and 06:00, starts again by 07:30 am.  OKCoin retains some residual traffic all the time (Fake trades? Autonomous robots? Arbitrage?  Chinese abroad?)

During the "sleep" hours the West sometimes appears to lead.

[JorgeStolfi]

I guess the best way is to transfer bitcoin to your Huobi account, for example, and then trade there.

You certainly can do that if you can open an account at Huobi.  (They have some AML/KYC requirements AFAIK).

But @walsoraJ was aksing about the price being sustained by Western fiat being deposited in the Chinese exchanges.  I don't know whether that happens much.

[JorgeStolfi]

Yawn.. Why do I have to keep repeating myself with this? They haven't even begun yet.

I know that. The question is whether we will be able to follow their moves once they start.  (SMBIT publishes some data, and there is a thread devoted to digesting that data and deducing their weekly trading activity.)