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

[jl2012]

What is happening with Ripple ? it did almost 10% the last 24 hours and around 30% the last 7 days ?!!!  Darkcoin also seem to be doing very well 20% in 24 hours...

A famous Chinese investor announces that he bought "some" XRP. Just an obvious pump-and-dump

[spooderman]

so yet again someone puts 2k+ coins on Stamp and Finex and pushes the price down on Huobi, who the hell can afford to sell 5k coins every few days for weeks? It's like he waits for the last batch to clear to the bank before selling another 5k+

or..........it's different people.

[itod]

so yet again someone puts 2k+ coins on Stamp and Finex and pushes the price down on Huobi, who the hell can afford to sell 5k coins every few days for weeks? It's like he waits for the last batch to clear to the bank before selling another 5k+

Miners. They make 6 * 24h * 25BTC = 3600BTC/day. They have to sell them to cover the cost of electricity + equipment.

[wonkytonky]

so yet again someone puts 2k+ coins on Stamp and Finex and pushes the price down on Huobi, who the hell can afford to sell 5k coins every few days for weeks? It's like he waits for the last batch to clear to the bank before selling another 5k+

or..........it's different people.

same guy..  playing a rotating game.. until he starts to rotate to the upside

[solex]

so yet again someone puts 2k+ coins on Stamp and Finex and pushes the price down on Huobi, who the hell can afford to sell 5k coins every few days for weeks? It's like he waits for the last batch to clear to the bank before selling another 5k+

Miners. They make 6 * 24h * 25BTC = 3600BTC/day. They have to sell them to cover the cost of electricity + equipment.

Yes. I think this is a factor with the development of huge asic farms.
BitFury are supposedly dumping what they mine. Their hash rate is up >60% in 1 month.



This, plus the bitcoin-accepting merchants which convert to fiat immediately (while old hoards are spent more than new ones built up), create the downward pressure at the present time.

[wonkytonky]

so yet again someone puts 2k+ coins on Stamp and Finex and pushes the price down on Huobi, who the hell can afford to sell 5k coins every few days for weeks? It's like he waits for the last batch to clear to the bank before selling another 5k+

Miners. They make 6 * 24h * 25BTC = 3600BTC/day. They have to sell them to cover the cost of electricity + equipment.

good thing the miners of 2010 still have to sell   for their electricity bills right? ..

not all miners are new guys.. them old guys have many buffer left..    
most miners mentality is not to sell if they dont have to..   if they did.. market price would be  1$

All i see is 1 or 2 whales pushing price down   for months.   when they get stuck.. they pump it up. until market  slows down ..   then putting walls on top of it.. and push down again..       they gonne do this until they are loaded with cheap coins.. or until market sais  : halt..

i think we are at the halt phase.. 450 ish.

[Hunyadi]

Miners. They make 6 * 24h * 25BTC = 3600BTC/day. They have to sell them to cover the cost of electricity + equipment.

Lot of miners have bought their equipment using btc, so they want to earn btc not usd. Also, lot of miners don't sell everything they make, at this price, you have to be quite desperate to sell the coins.

[NotLambchop]

...
Lot of miners have bought their equipment using btc, so they want to earn btc not usd. Also, lot of miners don't sell everything they make, at this price, you have to be quite desperate to sell the coins.

The miners need to unionize!

[inca]

Lots of panic in here. Fear palpable. Trolls reactivated.

Stay calm people! We have to go down before we can decisively reverse and get the momo traders onboard.

[Brewins]

Final capitulation on sight.
Prices falling.
We are going nowhere but down.
Lose all your hope

[ChartBuddy]

Explanation

[inca]

Final capitulation on sight.
Prices falling.
We are going nowhere but down.
Lose all your hope

Haha

[wachtwoord]

Final capitulation on sight.
Prices falling.
We are going nowhere but down.
Lose all your hope

And just when all hope seemed lost, Bitcoin did what Bitcoin does: what no-one expects

[antibitcoinconsortium]

sell wall is growing by the minute
expect big drop today $430 should be reasonable.

[inca]

sell wall is growing by the minute
expect big drop today $430 should be reasonable.

Perhaps then you can buy in and STFU

[mmitech]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

[JorgeStolfi]

Lot of miners have bought their equipment using btc, so they want to earn btc not usd. Also, lot of miners don't sell everything they make, at this price, you have to be quite desperate to sell the coins.

Miners want to make a profit.  If a miner bought their equipment for 1000 BTC in January, mined 1200 BTC with it, and paid 100'000 dollars of electricity, he invested 900'000$ and got back less than 600'000$, so he lost money.    Even if he loves BTC, he would be better off today if he had kept their 900'000$ in the bank; he could buy more than 1800 BTC with it now.  

Miners decide whether to keep, buy, or sell BTC just like any investor or trader.  If there are people selling for 460$ now, why wouldn't they sell too?


EDIT: they --> he

[mooncake]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Someone ask the exchange who the 16K BTC belongs to please. I really want to know.

[wachtwoord]

16K BTC to $600 VS 17.5K to $100 @ Bitstamp... really comforting.

Crazy stuff. This doesn't exactly seems like a healthy market. Where are all the sells coming from?

At any rate, these phases are necessary to further distribute the Bitcoins over the world (cause that is what this is).

[NotLambchop]

...
Lot of miners have bought their equipment using btc, so they want to earn btc not usd. Also, lot of miners don't sell everything they make, at this price, you have to be quite desperate to sell the coins.

The miners need to unionize!

Miners, unite!
You have nothing to lose but your chains!
You are the Bitcoin proletariat, your struggle is the class struggle!
If more than 51% of you unionize, you won't have to plead, you could DEMAND more $ per BTC, or else fork the fat, greedy oppressor!
The so-called "early adopters" will HAVE TO mortgage their fancy wives and houses to to protect their ill-gotten Bitcoin spoils.
The price will skyrocket, everyone will eat peaches and cream!
Fight the power!

UNION POOL NOW!