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

[adamstgBit]

never stop believing

THERE ARE FOUR LIGHTS!

[seleme]

Low volume dumps. We either haven't seen anything and worst is to come or there is no much will to sell at these levels anymore.

[ChartBuddy]

Explanation

[falllling]

Low volume dumps. We either haven't seen anything and worst is to come or there is no much will to sell at these levels anymore.

we dropped about $20 yesterday

[hyphymikey]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

[Davyd05]

1. No one time. You have 50 BTC invested.
2. You take 1 BTC of your invested stack and buy whatever product you want
3. The you rebuy 1 BTC with fiat

So you only spend 1 times the fiat cost of the item you bought (although probably less due to all the benefits of Bitcoin)

Hmmm I'm sorry but how does this not entail spending 2x the amount of money, fiat or BTC.

Depends upon definition... Of course, you have spent twice;however, one of those spending is a form of internal transfer from yourself and to yourself.  The other is a transfer from yourself to another entity... Accordingly, there is only 1x spending from yourself to another entity.

but you have to pay the fee even if you are "spending from yourself to yourself".

Generally I'm cool with 5 cents as cost of transfer on my larger movements, but I've gone 0.0 for a kick once or twice on small amounts

[Davyd05]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

they shouldn't fear that process since conversion of btc back to fiat doesn't always equate to 1 for 1 rebuys of btc, the real benefit to me is the publicity it will give bitcoin, people at banks still talk of it as it's some elaborate joke. 

[falllling]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

they will short more, the more businesses "accept" bitcoin (immediately dump it on exchanges via market sells), the more it will crash.

[BitChick]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

they shouldn't fear that process since conversion of btc back to fiat doesn't always equate to 1 for 1 rebuys of btc, the real benefit to me is the publicity it will give bitcoin, people at banks still talk of it as it's some elaborate joke. 

The Paypal integration should certainly bring some validity to Bitcoin.  If Apple makes some sort of announcement tomorrow about Bitcoin that will be even better.  Apple seems to have a cult like following.

But I am aware of the fact that it takes most people a year or two after first hearing about Bitcoin to actually buy any.  

[Searing]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

they shouldn't fear that process since conversion of btc back to fiat doesn't always equate to 1 for 1 rebuys of btc, the real benefit to me is the publicity it will give bitcoin, people at banks still talk of it as it's some elaborate joke. 

The Paypal integration should certainly bring some validity to Bitcoin.  If Apple makes some sort of announcement tomorrow about Bitcoin that will be even better.  Apple seems to have a cult like following.

But I am aware of the fact that it takes most people a year or two after first hearing about Bitcoin to actually buy any.  

er I'm behind the curve here paypal  ebay annoucnes bitcoin acceptance and the price drops to 466 usd ok wtf am i missing obviously i'm an idiot...is it just seen as more pressure on coin to go straight to cash out...more pressure to sell is that it?

Searing

[derpinheimer]

Low volume dumps. We either haven't seen anything and worst is to come or there is no much will to sell at these levels anymore.

Here's a simple little graph of how many asks there are, on Bitstamp, until $520 |: As the max, within a 24 hour period; rounded to nearest thousand.



So, quite simply, I disagree. Lots of people want to sell.

EDIT: Forgot Sep 06, -- its 6k

[solex]

Low volume dumps. We either haven't seen anything and worst is to come or there is no much will to sell at these levels anymore.

This is the mystery of markets, sometimes the bottom is a flash crash low, sometimes it just slowly turns up on low volume and never comes back.

I remember in March 2009 closely watching the S&P 500 future track lower and lower. It hit 666, and it just gently crept and bounced higher, there was no clue that this was the screaming buy for the next 5 years. On the way down there were many retraces, but finally one of them was the end of the bear market.

[Brewins]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

they shouldn't fear that process since conversion of btc back to fiat doesn't always equate to 1 for 1 rebuys of btc, the real benefit to me is the publicity it will give bitcoin, people at banks still talk of it as it's some elaborate joke. 

The Paypal integration should certainly bring some validity to Bitcoin.  If Apple makes some sort of announcement tomorrow about Bitcoin that will be even better.  Apple seems to have a cult like following.

But I am aware of the fact that it takes most people a year or two after first hearing about Bitcoin to actually buy any.  

er I'm behind the curve here paypal  ebay annoucnes bitcoin acceptance and the price drops to 466 usd ok wtf am i missing obviously i'm an idiot...is it just seen as more pressure on coin to go straight to cash out...more pressure to sell is that it?

Searing

Too many people that believe in the theory about more merchant adoption = more selll pressure = lower prices. So they sell before prices drop.

We might see the effect of Paypal integration after the new wave of people that get in touch with BTC because of paypal and stuff really decides to invest in Bitcoin

[DoomDumas]

Following Bitcoin for many years now.. I've noticed that big price change usualy had no links to any event/news ..

I would enjoy some of you proving it false..  Just points me events/news related to bubbles in Bitcoin price in the past years.. starting with the first bubble to 30 USD.

Anyway, this new technology is very usefull and strong, have many advantage.

Remember, as we saw in the past decades, new technologies take arround 10 years to become mainstream.  Bitcoin still very young at 5 yo.

Hope that some will write about events or news that causes past bubbles and pops.

Have a nice life

[ChartBuddy]

Explanation

[Hunyadi]

Low volume dumps. We either haven't seen anything and worst is to come or there is no much will to sell at these levels anymore.

Here's a simple little graph of how many asks there are, on Bitstamp, until $520 |: As the max, within a 24 hour period; rounded to nearest thousand.



So, quite simply, I disagree. Lots of people want to sell.

EDIT: Forgot Sep 06, -- its 6k

...or they want to block the rally. It seems quite obvious that those walls are not for getting the best possible price. Still, there are lots of scared people who want to sell.

[seleme]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

It's pretty shocking for Bitcoin to not react on such strong news, maybe it will after news spread though few months ago it would go up 100$ in few hours but Paypal is still long way to go, even this Braintree just announced it will implement Bitcoin in few months.

Enough time for more downtrend and there is barely any confidence left in it after several fake breakouts. Only some big whales could push this up, us small fishes are scared to move.

[Hunyadi]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

they shouldn't fear that process since conversion of btc back to fiat doesn't always equate to 1 for 1 rebuys of btc, the real benefit to me is the publicity it will give bitcoin, people at banks still talk of it as it's some elaborate joke. 

The Paypal integration should certainly bring some validity to Bitcoin.  If Apple makes some sort of announcement tomorrow about Bitcoin that will be even better.  Apple seems to have a cult like following.

But I am aware of the fact that it takes most people a year or two after first hearing about Bitcoin to actually buy any.  

er I'm behind the curve here paypal  ebay annoucnes bitcoin acceptance and the price drops to 466 usd ok wtf am i missing obviously i'm an idiot...is it just seen as more pressure on coin to go straight to cash out...more pressure to sell is that it?

Searing

Too many people that believe in the theory about more merchant adoption = more selll pressure = lower prices. So they sell before prices drop.

We might see the effect of Paypal integration after the new wave of people that get in touch with BTC because of paypal and stuff really decides to invest in Bitcoin

That's right. Also, if you don't want merchant adoption...then what do you exactly want?  When we have enough merchants on board, there wont be reason to convert bitcoins to fiat (I mean, merchants can buy stuff from their suppliers with bitcoins).

[falllling]

Even though we haven't gone up in price yet, I wonder what the ones that shorted 10K BTC are thinking now that paypal is integrating.

Any of those shorters here in this thread?  I'd love to hear your thoughts.

It's pretty shocking for Bitcoin to not react on such strong news, maybe it will after news spread though few months ago it would go up 100$ in few hours but Paypal is still long way to go, even this Braintree just announced it will implement Bitcoin in few months.

Enough time for more downtrend and there is barely any confidence left in it after several fake breakouts. Only some big whales could push this up, us small fishes are scared to move.

bitcoin is over-price and paypal has already been placed in, that's why
the more businesses "accept" bitcoin (immediately dump it on exchanges via market sells), the more it will crash.

what's coming would be HUGE dumps

[DoomDumas]

most of this thread sounds likes "depairs phase" thoses days..

My guess.. next big rally soon !