Wall Observer - MtGoxUSD wall movement tracker

[solex]

In the grand scheme of things this run from the teens to ~$90 will appear very short lived and ridiculously bubble-ish.  Years from now at the bottom of the coming correction we'll all recognize how absurd it is that BTC traded at this level.

What market size should bitcoin be, in your opinion? The size needed that it can be used to transfer wealth around without pushing the price around too much.

He wants the price back to $1 so he can load up again and replace all the bitcoins he sold at a ridiculously low price when he first thought he had called the top correctly. I wonder what price it would get to before it is too difficult for him to watch anymore? $500?

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[BitPirate]

In the grand scheme of things this run from the teens to ~$90 will appear very short lived and ridiculously bubble-ish.  Years from now at the bottom of the coming correction we'll all recognize how absurd it is that BTC traded at this level.

Things are looking pretty bullish :-) Thanks, Proudhon!

[klee]

Proudhon natters like the Golum wanting back his lost ring! LMAO

[Piper67]

In the grand scheme of things this run from the teens to ~$90 will appear very short lived and ridiculously bubble-ish.  Years from now at the bottom of the coming correction we'll all recognize how absurd it is that BTC traded at this level.

Things are looking pretty bullish :-) Thanks, Proudhon!

I think in a twisted way Proudhon has bought into his own contrarian indicator myth. Now he thinks he actually has an impact on the market by issuing his bear warnings, so he keeps doing it, hoping that they will push the market up beyond the point of reason and, in a double psych, cause a correction that he can then claim he predicted.

Layers within layers, my friends 

[chmod755]

Someone with all the money in the world wants to buy in  

oh my sides. How awesom!

Thanks for the rally Barclays!

All the world's GDP: $69,970,000,000 (we could all just receive a paycheck from him for a year and do nothing)

I don't know what numbers you are using but I think you forgot 000....  69,970,000,000,000 ($69.97 trillion)

...some central banks are printing much faster now! Could be more like $100,000,000,000,000 for 2013...

[EnergyVampire]

In the grand scheme of things this run from the teens to ~$90 will appear very short lived and ridiculously bubble-ish.  Years from now at the bottom of the coming correction we'll all recognize how absurd it is that BTC traded at this level.

What market size should bitcoin be, in your opinion? The size needed that it can be used to transfer wealth around without pushing the price around too much.

$10,000 to $100,000 a coin at least if this goes main stream.

I agree with Goat, at ~$1000 ~$100,000 per coin the market cap would be about $1 Trillion which would make it difficult to push prices around.

[proudhon]

In the grand scheme of things this run from the teens to ~$90 will appear very short lived and ridiculously bubble-ish.  Years from now at the bottom of the coming correction we'll all recognize how absurd it is that BTC traded at this level.

What market size should bitcoin be, in your opinion? The size needed that it can be used to transfer wealth around without pushing the price around too much.

$10,000 to $100,000 a coin at least if this goes main stream.

I agree with Goat, at ~$1000 per coin the market cap would be about $1 Trillion which would make it difficult to push prices around.

At $1000/BTC the "market cap" would be about 1% of $1 Trillion.

[jl2012]

In the grand scheme of things this run from the teens to ~$90 will appear very short lived and ridiculously bubble-ish.  Years from now at the bottom of the coming correction we'll all recognize how absurd it is that BTC traded at this level.

What market size should bitcoin be, in your opinion? The size needed that it can be used to transfer wealth around without pushing the price around too much.

$10,000 to $100,000 a coin at least if this goes main stream.

I agree with Goat, at ~$1000 per coin the market cap would be about $1 Trillion which would make it difficult to push prices around.

For 1000 per coin the total would only be 10 billion

[EnergyVampire]

In the grand scheme of things this run from the teens to ~$90 will appear very short lived and ridiculously bubble-ish.  Years from now at the bottom of the coming correction we'll all recognize how absurd it is that BTC traded at this level.

What market size should bitcoin be, in your opinion? The size needed that it can be used to transfer wealth around without pushing the price around too much.

$10,000 to $100,000 a coin at least if this goes main stream.

I agree with Goat, at ~$1000 per coin the market cap would be about $1 Trillion which would make it difficult to push prices around.

For 1000 per coin the total would only be 10 billion

You are correct. Make it $100,000 USD per Bitcoin. 

[Pteppic]

Monthly volume on Gox has just gone through 2 million BTC 

[rpietila]

Thank you for filling my EUR 65/BTC, even though I don't see why you want to sell for cheap!

[samson]

Thank you for filling my EUR 65/BTC, even though I don't see why you want to sell for cheap!

That's quite a bargain at the moment

[rpietila]

Thank you for filling my EUR 65/BTC, even though I don't see why you want to sell for cheap!

That's quite a bargain at the moment

It was a gift from God. Just have a look on the chart, the price dipped from 69->64.5->69 for less than 10 minutes!

Thank you for € 352! 

[mccorvic]

Well, after waking up to see the price at $87 I thought that maybe, maybe we might have to slow down a bit.  This is an incorrect assumption.

Bids are STILL about 9.5mil USD while asks are below 50k BTC.  These indicators have remained unchanged throughout this burst.

[rpietila]

Well, after waking up to see the price at $87 I thought that maybe, maybe we might have to slow down a bit.  This is an incorrect assumption.

Bids are STILL about 9.5mil USD while asks are below 50k BTC.  These indicators have remained unchanged throughout this burst.

The rally is actually incredibly muted, for the reason that there exists an unbelievable flock of sheep-bears, who don't know math, and are willing to sell after every tick up. If they believe it is a great idea to sell <$100, it may take until next week before we see it. Friday is bank holiday in Europe, so the peak for a week should definitely come tomorrow.

[myhoho]

Thank you for filling my EUR 65/BTC, even though I don't see why you want to sell for cheap!

That's quite a bargain at the moment

 Everytime I'm tryin to sell some of my bitcoins during the past 2 months I find myself sinking in regret in several days. Hold your coins, folks ).

[mccorvic]

Well, after waking up to see the price at $87 I thought that maybe, maybe we might have to slow down a bit.  This is an incorrect assumption.

Bids are STILL about 9.5mil USD while asks are below 50k BTC.  These indicators have remained unchanged throughout this burst.

The rally is actually incredibly muted, for the reason that there exists an unbelievable flock of sheep-bears, who don't know math, and are willing to sell after every tick up. If they believe it is a great idea to sell <$100, it may take until next week before we see it. Friday is bank holiday in Europe, so the peak for a week should definitely come tomorrow.

I don't disagree.  It really is strange how much people sell in these high slippage/price rising situations.  Some bears will reply "But you NEED bears and sellers!"  That may be, but it doesn't mean those people are any less dumb.

[BitPirate]

Well, after waking up to see the price at $87 I thought that maybe, maybe we might have to slow down a bit.  This is an incorrect assumption.

Bids are STILL about 9.5mil USD while asks are below 50k BTC.  These indicators have remained unchanged throughout this burst.

The rally is actually incredibly muted, for the reason that there exists an unbelievable flock of sheep-bears, who don't know math, and are willing to sell after every tick up. If they believe it is a great idea to sell <$100, it may take until next week before we see it. Friday is bank holiday in Europe, so the peak for a week should definitely come tomorrow.

^My thoughts exactly. It's actually quite slow-going, particularly compared to last week; with no real walls of resistance in the 80's.

[Piper67]

Well, after waking up to see the price at $87 I thought that maybe, maybe we might have to slow down a bit.  This is an incorrect assumption.

Bids are STILL about 9.5mil USD while asks are below 50k BTC.  These indicators have remained unchanged throughout this burst.

The rally is actually incredibly muted, for the reason that there exists an unbelievable flock of sheep-bears, who don't know math, and are willing to sell after every tick up. If they believe it is a great idea to sell <$100, it may take until next week before we see it. Friday is bank holiday in Europe, so the peak for a week should definitely come tomorrow.

I don't disagree.  It really is strange how much people sell in these high slippage/price rising situations.  Some bears will reply "But you NEED bears and sellers!"  That may be, but it doesn't mean those people are any less dumb.

Yeah, but the fact is we need them. If it weren't for those willing to sell at these prices, no one would be buying. I'm happy that others are selling. I'm not 

[waspoza]

In the grand scheme of things this run from the teens to ~$90 will appear very short lived and ridiculously bubble-ish.  Years from now at the bottom of the coming correction we'll all recognize how absurd it is that BTC traded at this level.

Things are looking pretty bullish :-) Thanks, Proudhon!

I think in a twisted way Proudhon has bought into his own contrarian indicator myth. Now he thinks he actually has an impact on the market by issuing his bear warnings, so he keeps doing it, hoping that they will push the market up beyond the point of reason and, in a double psych, cause a correction that he can then claim he predicted.

Layers within layers, my friends