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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1651529 times)
jzcjca00
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March 26, 2013, 03:00:47 PM
 #15701

Bitstamp makes all these manipulative sell-offs on Gox look a bit silly. Why sell hundreds or thousands of BTC at $78 when people will demonstrably pay $82?

Because they think they are smarter than they really are?  There is zero reason to try and sell any reasonable amount of coin when there is high slippage and the demand will increase the price.  I'm sure some "expert" will come in here and try to tell us that we don't understand, but that's about the only thing we'll hear.

My guess is that these walls are erected by early adopters who want Bitcoin to succeed.

How many potential new investors dismiss Bitcoin because of all the articles warning that Bitcoin is a highly risky investment because of its extreme volatility?  If we want the average citizen to become a long-term investor in Bitcoin, we need to show them a calm, steadily rising market, not a roller coaster ride.

These flash crashes are our worst enemy.  How do we control them?  Sell some coins to cool off the market when it starts to shoot up too quickly, and keep limit buy orders in place to eliminate the flash crashes.

Unfortunately, that means you miss some of the gains because you're always partly in fiat, but it seems a small price to pay to ensure the long-term success of the project.

Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
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March 26, 2013, 03:00:56 PM
 #15702

800 before $80!   Smiley

Yeah, well... I'm gonna go build my own blockchain, with blackjack and hookers. In fact, forget the blockchain!
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March 26, 2013, 03:08:08 PM
 #15703

Bitstamp bearish, expected price (midpoint between BTC300 bid/ask volume) in 1-2 hours: $81.

MtGox seems to be stuck at $79.

Despite the gloom setup, I expect a definitive all-time-high in 2 hours.

I am basing this prediction on my new 4-week trading data of six-hour intervals. Tuesday, 12-18 GMT has seen solid gains of 5.4% and 6.9% in the last two weeks. It is the 3rd best performing 6-hour slot of all the 28. The reason is probably the timing of incoming funds and traders online.

Since we started at $77.5, I can expect with confidence that we break through the "wall" at $80 and go to $80.5-$82 range before the sun sets here. There seems to be about equal probability (1/3) to end up in that range, or go above or stay below.

In my opinion, BitStamp has been more fun to watch than MtGox today.  Smiley

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March 26, 2013, 03:18:02 PM
 #15704

http://reason.com/blog/2013/03/26/bitcoin-atm-could-be-opened-in-cyprus 

This is a sinister move. Cool

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
robocoin
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March 26, 2013, 03:20:19 PM
 #15705

always the same trick  Roll Eyes

rpietila
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March 26, 2013, 03:22:36 PM
 #15706

always the same trick  Roll Eyes



That, coupled with selling to the lonely bids immediately afterwards..

.. buys you about 1 hour extra time before we break $80. It has been done in every other market already so not a big deal.

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March 26, 2013, 03:23:58 PM
 #15707

And now for a 12k wall at 78.6, price going down!

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March 26, 2013, 03:27:16 PM
 #15708

800!

BTC 1JASiNZxmAN1WBS4dmGEDoPpzN3GV7dnjX DVC 1CxxZzqcy7YEVXfCn5KvgRxjeWvPpniK3                     Earn Devcoins Devtome.com
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March 26, 2013, 03:30:12 PM
 #15709

I can't believe Gox is lagging like hell under a mere 2000 BTC dump!

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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March 26, 2013, 03:30:56 PM
 #15710

the 245 seconds  lag drives me crazy
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March 26, 2013, 03:31:52 PM
 #15711

Who keeps 12000 coins at gox just sitting there waiting?  that is just crazy.....I would be so paranoid.

Tired of substandard power distribution in your ASIC setup???   Chris' Custom Cablez will get you sorted out right!  No job too hard so PM me for a quote
Check my products or ask a question here: https://bitcointalk.org/index.php?topic=74397.0
robocoin
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March 26, 2013, 03:32:00 PM
 #15712

always the same trick  Roll Eyes



That, coupled with selling to the lonely bids immediately afterwards..

.. buys you about 1 hour extra time before we break $80. It has been done in every other market already so not a big deal.

Cyprus bank reopening also delayed. lol good for me
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March 26, 2013, 03:32:49 PM
 #15713

And now for a 12k wall at 78.6, price going down!

Someone is desparately trying to keep the price from climbing.
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March 26, 2013, 03:37:26 PM
 #15714

Who keeps 12000 coins at gox just sitting there waiting?  that is just crazy.....I would be so paranoid.

Might be a new coinlab player, trying to get more coins.  It seems to have worked.

rpietila
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March 26, 2013, 03:37:39 PM
 #15715

Bitstamp bearish, expected price (midpoint between BTC300 bid/ask volume) in 1-2 hours: $81.

MtGox seems to be stuck at $79.

Despite the gloom setup, I expect a definitive all-time-high in 2 hours.

I am basing this prediction on my new 4-week trading data of six-hour intervals. Tuesday, 12-18 GMT has seen solid gains of 5.4% and 6.9% in the last two weeks. It is the 3rd best performing 6-hour slot of all the 28. The reason is probably the timing of incoming funds and traders online.

Since we started at $77.5, I can expect with confidence that we break through the "wall" at $80 and go to $80.5-$82 range before the sun sets here. There seems to be about equal probability (1/3) to end up in that range, or go above or stay below.

In my opinion, BitStamp has been more fun to watch than MtGox today.  Smiley

BS turning bullish, pointing towards $80 or more in 1-2 hours!

Yawning at the willingness of some to sell for 2-3 $ discount in Mt.Gox.

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March 26, 2013, 03:38:03 PM
 #15716

Oh well, we saw this yesterday, too.  This is a tightly controlled rise.  I'm very sure that we'll be >$80 by tomorrow.

(BFL)^2 < 0
Herodes
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March 26, 2013, 03:40:23 PM
 #15717

Who keeps 12000 coins at gox just sitting there waiting?  that is just crazy.....I would be so paranoid.

rpietila
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March 26, 2013, 03:40:39 PM
 #15718


BS turning bullish, pointing towards $80 or more in 1-2 hours!


Lol you little fish, fulfilling my prediction prematurely  Grin

robocoin
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March 26, 2013, 03:41:46 PM
 #15719



Who keeps 12000 coins at gox just sitting there waiting?  that is just crazy.....I would be so paranoid.



rofl
thoughtfan
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March 26, 2013, 03:43:59 PM
 #15720


I was wondering about this one since I read it earlier, wondering what Jeff Berwick is planning to do with all the Euros his ATMs pick up because they're apparently soon to bring in export limits.  http://www.bbc.co.uk/news/business-21936554

I had until reading both these articles been considered taking a bit of a holiday to Cyprus with a load of Bitcoin and going on LocalBitcoin or just hitting the ATM queues but I had a suspicion it wouldn't be as easy to replenish my BTC stock as it would need to be to be worth while.  Lo and behold...

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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