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

[ChartBuddy]

Explanation

[LFC_Bitcoin]

Dat buywall, dat Christmas, dat Uptrend...BITCOIN

Dem cheap coins.

Buy people buy, before the train departs.

this train is going nowhere.

see you below 300.

thank you for closing your shorts.

People have been saying that for a while.
Not happening imo.

[macsga]

Dat buywall, dat Christmas, dat Uptrend...BITCOIN

Dem cheap coins.

Buy people buy, before the train departs.

this train is going nowhere.

see you below 300.

thank you for closing your shorts.

People have been saying that for a while.
Not happening imo.

You can't predict the unpredictable...

[LFC_Bitcoin]

I don't want to see any more of this.....

[inca]

Dat buywall, dat Christmas, dat Uptrend...BITCOIN

Dem cheap coins.

Buy people buy, before the train departs.

this train is going nowhere.

see you below 300.

thank you for closing your shorts.

Shouldn't you be closing yours too? They are underwater, right?

[JorgeStolfi]

Of special interest were predictions by Sam Cole from KnCMiner who said:

“Large financial players are entering the market this year. I am talking to some of them. If they are to become involved they need the coin to be valued at around US$2,000 to US$3,000… So I am predicting around US$2,000 to US$3,000.”
Interestingly, Dr. Marco Krohn from Genesis Mining suggested the same figure of US$2,000 to US$3,000. What is it that miners know that the rest of us don’t?

Methinks that they knew what they had to say to investors, with the straightest face possible, in order to convince them to invest...

[BlindMayorBitcorn]

Dat buywall, dat Christmas, dat Uptrend...BITCOIN

Dem cheap coins.

Buy people buy, before the train departs.

this train is going nowhere.

see you below 300.

thank you for closing your shorts.

Shouldn't you be closing yours too? They are underwater, right?

If I was a trader I would open some right now. I wonder how I would do..

[Newbie1022]

Dat buywall, dat Christmas, dat Uptrend...BITCOIN

Dem cheap coins.

Buy people buy, before the train departs.

this train is going nowhere.

see you below 300.

thank you for closing your shorts.

Shouldn't you be closing yours too? They are underwater, right?

If I was a trader I would open some right now. I wonder how I would do..

Just opened a short. Didn't go all in on it, though. I think we've hit an impasse. We'll see, though. Far from 100% certain.

[inca]

Just opened a short. Didn't go all in on it, though. I think we've hit an impasse. We'll see, though. Far from 100% certain.

Just set a close stop..

[JorgeStolfi]

Good.  Fewer miners means fewer coins on the market which means higher prices.

As others observed, the miners get 25 BTC per block, irrespective of difficulty and hashrate.  If hashrate drops suddenly, the block rate will fall in proportion at first, so there will be fewer blocks mined per day.  However, every two weeks or so the difficulty is automaticallly adjusted so as to restore the ideal block rate of 1 every 10 minutes. At that point, the miners will start to receive ~3600 BTC per day, again.

However, even after the adjustment, each of those surviving miners will get a larger share of those rewards; whereas their recurring expenses  (electricity, staff, etc.) will be the same.  So, if the miners are also hoarders, they may hoard a larger proportion of those 3600 coins.  

On the other hand, if the price keeps falling, the recurring expenses will increase when expressed in BTC.  Then, even the hoarding miners will be forced to sell more of the mined BTC.

TL;DR: If some miners have to close, the amount of new coins sold daily on the open market may increase, decrease, or stay about the same.

[Newbie1022]

Just opened a short. Didn't go all in on it, though. I think we've hit an impasse. We'll see, though. Far from 100% certain.

Just set a close stop..

I did! And thank you!!! Yea, I don't see us busting upwards strongly, but at the same time... something has to give so it definitely could happen. Thanks.

[ChartBuddy]

Explanation

[Specular]

I was wondering which exchanges people around here focus on when watching BTC charts. The Chinese exchanges seem to have the most volume (OK Coin, Huobi).

[ChartBuddy]

Explanation

[Brewins]

I was wondering which exchanges people around here focus on when watching BTC charts. The Chinese exchanges seem to have the most volume (OK Coin, Huobi).

for some reason people, including the chart buddy, looks for the bitcoinwisdom price.

U know, chinese exchanges don't have dollar prices

[janos666]

U know, chinese exchanges don't have dollar prices

https://www.okcoin.com/market.do

[bobboooiie]

what the fuck is happening at okcoin. Again with this 5-10k buy walls ?

[JorgeStolfi]

Someone as been putting up huge bids on OKCoin - 3500 BTC each, 10 kBTC or more total - and playing around with them.

[ChartBuddy]

Explanation

[JorgeStolfi]

Someone as been putting up huge bids on OKCoin - 3500 BTC each, 10 kBTC or more total - and playing around with them.

... and the Phantom Bearwhale is gone ...

Perhaps some wealthy OKCoin client living in the US got excited about the BitcoinBowl commercials... but then pulled back when he realized no one was following?

Oops, he still seems to be around -- but with smaller bids, 1000 BTC or so.  

About 7000 BTC were traded in the last 15 minutes, so he cannot have bought too much.

EDIT: back with a 4000 BTC bid...

EDIT2: then he puts a 3000 BTC sell order, some 20 CNY above the previous buy orders.  At least he knows the basic "buy low, sell high" rule.