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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1652576 times)
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March 19, 2013, 08:49:09 PM
 #14301


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March 19, 2013, 08:54:28 PM
 #14302

It is different this time!
Yes and no.

The ability to transfer arbitrary amounts of currency to anyone on the planet quickly and without prior restraint is a new capability humans have never experienced before. There is a large pent up demand for this capability.

Of course the same rules of supply and demand apply to Bitcoin as much as they apply to anything else.

We will have to see about the "arbitrary". If if want to convert 1Mio$ to BTC send it over and my friend on the other side wants to convert it back to $, what would happen to the Market? High volatility, trading bots possibly eating way more than the transaction fee and so forth.
We need somebody to pump way more liquidity in before this can get to be useful on a larger scale.

That's exactly what's happening.

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March 19, 2013, 08:57:47 PM
 #14303

Nice to wake up to a continued rally.  Crazy.

Oh Loaded, who art up in Mt. Gox, hallowed be thy name!  Thy dollars rain, thy will be done, on BTCUSD.  Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins.  And lead us into quadruple digits
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March 19, 2013, 09:13:50 PM
 #14304

Unfortunately as the overall supply of new coins diminishes, nobody would want to do that, as other parties would probably buy and hold. In conclusion, we might always have to pay a large premium when shuffling large amounts of fiat through btc., be it because of fluctuation or uncertainty in price or due to costs related to the circumvention of money laundering regulations. The question is: will that be cheapter than what we do today? How much is not having to trust anybody in the middle worth?

I don't quite understand your thinking. Why not just use Bitcoin as money?

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March 19, 2013, 09:30:26 PM
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The question is: will that be cheapter than what we do today? How much is not having to trust anybody in the middle worth?

I don't quite understand your thinking. Why not just use Bitcoin as money?

There is no thinking to understand - you're an optimist Wink I however don't see my boss paying me in btc anytime soon.
 
My thoughts circle around adoption of bitcoin and I see the replacement of hawala systems as one of the main drivers in the near future.
That is, getting cash from A to B globally, but now without anybody you need to trust in the middle.
Cash still beats bitcoin when it comes to lack of tracability and wide acceptance, I would expect this to stay that way.

Regarding the walls: I'm so bored, i just bought at 57.0x to sell at 58 - .0x MtGox will be happy about it.

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March 19, 2013, 09:35:42 PM
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here it comes again?

(BFL)^2 < 0
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March 19, 2013, 09:38:06 PM
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here it comes again?

I don't see it.

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March 19, 2013, 09:38:59 PM
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here it comes again?

That's an interesting one, the peak and trough kind of balance each other out and now it appears to continue as if the big purchase didn't happen.
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March 19, 2013, 09:46:32 PM
 #14309

I don't see it.
ascending triangle forming after the peak -- but -- it's not a triangle so far, only could be one. we have to wait if it goes down again (a bit) and how far (should be above the minimum of the first retreat).
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March 19, 2013, 09:46:47 PM
 #14310

It looks like the bidsum is reaching 8mil again while the asksum is climbing back up to 70k BTC.  It was under these same conditions that we launched from this morning.

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March 19, 2013, 10:05:25 PM
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March 19, 2013, 10:08:05 PM
 #14312

People get those religious feelings about money here, don't touch them at the wrong place. lol  Always pretend to hold, or some Bitcoin Hitler will kick you.

Bitcoin Hitler won't need to kick you, as those who sell low will just be kicking themselves.

What if those people ARE Bitcoin Hitler? The plot thickens...

I feel busted  Cheesy

Post count: plot thickens further...

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March 19, 2013, 10:12:44 PM
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Finally  Grin (> 48)

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March 19, 2013, 10:14:49 PM
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And the onslaught begins anew.

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March 19, 2013, 10:17:48 PM
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here it comes again?

That's an interesting one, the peak and trough kind of balance each other out and now it appears to continue as if the big purchase didn't happen.
I don't see it.
ascending triangle forming after the peak -- but -- it's not a triangle so far, only could be one. we have to wait if it goes down again (a bit) and how far (should be above the minimum of the first retreat).
It looks like the bidsum is reaching 8mil again while the asksum is climbing back up to 70k BTC.  It was under these same conditions that we launched from this morning.

And now we're back to analysis again.... AHHHhhhhh everything back to normal :-D

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March 19, 2013, 10:19:22 PM
 #14316

And the onslaught begins anew.
Just calmer this time please folks - I had to explain to my client that I wouldn't be charging him for today because I'd spent all day watching the Bitcoin charts!  If I don't intend to sell my coin anytime soon I should really be putting days in to recover my fiat position - so please, just chill with this exuberant trading please? Wink

If you have a machine on 24/7 why not have a full Bitcoin client running on it to support the network?
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March 19, 2013, 10:25:49 PM
 #14317

And the onslaught begins anew.
Just calmer this time please folks - I had to explain to my client that I wouldn't be charging him for today because I'd spent all day watching the Bitcoin charts!  If I don't intend to sell my coin anytime soon I should really be putting days in to recover my fiat position - so please, just chill with this exuberant trading please? Wink

Hahaha... yeah... it's pretty bad actually... I'm in charge of teaching the entire broadcast staff at the United Nations how to use all of their new equipment... yeah no, probably not gonna happen.

No broadcasts of the General Assembly or Security Council meetings...

You guys can blame yourselves thank Bitcoin for that.

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March 19, 2013, 10:31:45 PM
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And the onslaught begins anew.
Just calmer this time please folks - I had to explain to my client that I wouldn't be charging him for today because I'd spent all day watching the Bitcoin charts!  If I don't intend to sell my coin anytime soon I should really be putting days in to recover my fiat position - so please, just chill with this exuberant trading please? Wink

Hahaha... yeah... it's pretty bad actually... I'm in charge of teaching the entire broadcast staff at the United Nations how to use all of their new equipment... yeah no, probably not gonna happen.

No broadcasts of the General Assembly or Security Council meetings...

You guys can thank Bitcoin for that.
LOL  Grin I wonder what the value of the total man hours lost today through watching the charts - and following the chatter of course!  It is a somewhat novel experience for me that the value of my assets goes up by a huge percentage more than what I would have earned today.  But as I say if I'm not intending to sell then I need also to be responsible with my fiat income.  Love the UN story though thanks Smiley

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March 19, 2013, 10:39:01 PM
 #14319

And the onslaught begins anew.
Just calmer this time please folks - I had to explain to my client that I wouldn't be charging him for today because I'd spent all day watching the Bitcoin charts!  If I don't intend to sell my coin anytime soon I should really be putting days in to recover my fiat position - so please, just chill with this exuberant trading please? Wink

I also struggle with this problem.

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March 19, 2013, 10:40:10 PM
 #14320

btw, you folks do realise don't you that with an hour and a half to go we're on the third highest volume day of trading ever - and that in comparison to what's happened to the price the orderbook on both sides, but particularly the Bid side have hardly budged?


If you have a machine on 24/7 why not have a full Bitcoin client running on it to support the network?
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