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

[molecular]

I am going to start using the term "bits" from now on when quoting prices.  I agree with Gavin.

Price is currently about $0.000387 per bit.  Let's go for bit-dollar parity!  

To be honest, I think this whole 21M thing and even more so the utilization of the decimal fractions make absolutely no f¤ked sense for something like Bitcoin. This is just retarded in my opinion. A stupid mind trick and/or superstitious act which sacrifices logic and ease of use.
If I were the one to set up a maximum number for the coin supply, my first candidate would have been the highest possible number granted by the size of the underlaying integer or floating point variable but I would have revised it to an y=10^x (where x is a convenient whole number, something around 15 or 20).

Even if I make myself not caring about the 21 thing, but...
A decimal fractions?
DECIMAL FRACTIONS?

REALLY???
REALLY?

Makes no f¤cked sense. No no no... It's just wrong. Illogic and inconvenient = suboptimal ~ stupid.

Just as well then, it doesn't seem to me Satoshi thought we'd be using so many decimals, early on he proposed just moving the decimal point, and calling the new fraction Bitcoin. Seems some over enthusiastic programmers went and named and solidified the denominations making it impractical or confusing to go and just move the decimal point.

Well, moving the decimal point is impractical and confusing.

We should migrate to XBT/bits and be done with it.

[cheekychap]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

[ChartBuddy]

Explanation

[molecular]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

[ShroomsKit]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

Or down.

[janos666]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

Or down.

Well, if it doesn't jump then it probably will slowly but constantly go down. Constant slow growth just isn't possible here.

[lyth0s]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

Or down.

Yes I completely agree. From here we could be going up, down or sideways....wait isn't that always the case?

[hmmmstrange]

Canada listened to Andreas and made me almost believe in elected representation.

NY didn't.

Except those guys were not elected...

Appointed lifetime trough swillers.

face it canadians are just cooler poeple.

Except that Canada has no 2nd amendment protections.  No legal firearms  to defend against tyranny and criminals, only guns for the criminals and govt.

One word, Oka

[ChartBuddy]

Explanation

[touhonoob]

https://i.imgur.com/wgghbYA.png
Explanation

The bid side becomes higher and higher 

[noobtrader]

Bid support on Stamp looks solid.

2000BTC to 380$
5000BTC to 370$

Huobi

14000BTC to 2300CNY
lol

Conclusion:

Breakout imminent!

Buy orders are definitely solid. We should be going over 400 soon.

We could be sliding sideways for a while, too.

Or down.

woww...  you havent close your short then ?

[seljo]

Chinese 10k wall still here? Someone is buying coinz for peanuts... 

[solex]

Chinese 10k wall still here? Someone is buying coinz for peanuts... 

That wall hasn't bought 1 BTC yet, and when there was a dip it was pulled and then dropped 20 yuan. Sellers see it and are holding back.

[ChartBuddy]

Explanation

[Totscha]

I thought BTC would be a space bound rocketship by now. Oh well, it's gonna happen sooner or later. And even though I would rather it be sooner, I can keep my coins in cold storage until later. It's not like I don't have anything else to do.

In the meantime, I can't wait to install Gems on my iPhone (Getgems.org). I would love to see it, or something like it, kill Facebook. Or do you guys think Facebook would sooner do the same kind of thing to keep from going the way of MySpace? lol


 

Nah, no way. The market still hasn't decided if we stopped falling.

My guess would be a silent accumulation until early 2015 with some swings, but the price will be $400-ish.

After that ETFs will come in and hopefully we get some nice slow steady growth...

[ChartBuddy]

Explanation

[CoolStoryBro]

Comments about the plots per hour:

The first pair of plots (USD volume per hour) show a maximum of tradeing volume
around 15:00 UTC (09:00 Central US time,  23:00 China time)
and a minimum  around 03:00 UTC (21:00  Central US time, 11:00 China time).  This may indicate that
most of the volume at Bitstamp is due to European traders, or perhaps to a mix of American traders
and arbitragers with China.  Hard to tell.

The shape of the USD volume plots is the same for Jan-Apr and May-Sep, but the latter has been
only 200 k$/hour while the former was about 450 k$/hour.  Given the overal price drop over the
period, it seems that the BTC volume has changed little.

The second set of plots seems to say that the average price change is nearly indepependent of the hour of
day.  The ups and down seem to be just artifacts of the relatively small sample (273 days).  That is, there
are no "bullish hours" not "bearish hours".

The third set of plots (RMS price change) has a minimum around 19:00 UTC, which is  China slumber time.
This is consistent with the claim that the price changes have been mostly defined by the Chinese
exchanges.

However, that effect is quite clear only on the first four months Jan--Apr,
while from May--Sep the volatility seems to be much smaller and nearly independent of
the hour of day.  This could mean that China is no longer defining the price --- but then,
neither is the West.  Perhaps the big traders who define the price, in China or in the West,
now use autonomous robots that work 24 hours a day.  Maybe.

thanks

[DaRude]

Explanation

This doesn't feel natural to me. Bids are building up and up across all exchanges but no market orders and VERY low volume and stable price what gives  conspiracy theorists ...

[medialab101]

Explanation

This doesn't feel natural to me. Bids are building up and up across all exchanges but no market orders and VERY low volume and stable price what gives  conspiracy theorists ...

Everyone agrees that this is still cheap. But everyone knows that the day-traders and manipulators are still lined up to exploit this low liquidity market.

[lyth0s]

Is that whale back with all his fiat to buy some coins?

Buy orders are at every $0.50 to $1 for $38,000 worth of coins, then some really large buy orders for over $100,000 mixed in.