Wall Observer - MtGoxUSD wall movement tracker

[Spaceman_Spiff]

"I'm starting to think that bitcoin as a store-of-value might end up being more attractive than bitcoin as a medium-of-exchange." -Gavin Andresen, 10-17-2010

Yes, that seems to be happening now. However, if MOE function falls too much it will quell SOV advancement (i.e., slow the price rise), which will allow MOE function to grow again, which will eventually spur SOV growth, which will interfere with MOE (but less now, since market cap is bigger), etc. So they may take turns leapfrogging each other.

The great thing about bitcoin is that it can turn from being a store of value to being a medium of change on a dime (pardon the pun). Want to save for a rainy day? Do so. Need to spend it? Do so. In many ways, it's a new paradigm.

Yes, "store of value", "medium of exchange" and "payment processor" are just facets of Bitcoin. We're used to thinking in those terms because that's how money has been and how it has moved until now. But, in spite of the naysayers, Bitcoin truly is a different concept, which gathers all of the above (and perhaps some others that we haven't even thought about yet) into one simple and elegant solution.

Gavin's a wonderful developer, but this falls into realms that maybe aren't his strongest suit.

I disagree.  I can see bitcoin becoming the digital equivalent of gold, backing other faster, cheaper to transfer (sure you can send feeless at the moment, but for how long?), centralized digital currencies if no solutions are found for the scalability issue.  That being said, there is probably room for a whole lot of creativity to fix problems.

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[mccorvic]

A new, interesting pattern.  Bids are continuing to rise to all new highs (over 11mil now) but asks also rising (though still now where near where they were two weeks ago and on par with last weekend).  Bulls still have advantage, but signs point to continued slug fest.

[Spaceman_Spiff]

A new, interesting pattern.  Bids are continuing to rise to all new highs (over 11mil now) but asks also rising (though still now where near where they were two weeks ago and on par with last weekend).  Bulls still have advantage, but signs point to continued slug fest.

I am guessing we'll battle it out around $100 for a while.

[mccorvic]

A new, interesting pattern.  Bids are continuing to rise to all new highs (over 11mil now) but asks also rising (though still now where near where they were two weeks ago and on par with last weekend).  Bulls still have advantage, but signs point to continued slug fest.

I am guessing we'll battle it out around $100 for a while.

I think we can break it down in three ways:

1.  Bears/Bulls battle it out with incremental sells/buys and price stays same or move up slowly.
2.  Bears dump, price falls quickly and flash back to where it was before dump and battle continues.
3.  Bulls spark a huge buy rally, whether single buyer or bunch of buyers buy at same time by accident, sparks a panic buy and prices reaches next level and we stay there.

Thus, bull advantage.  The only bear option really is to keep price where we are at now.

[Zangelbert Bingledack]

Most likely is that the usual heave-hoe battering ram pattern that happened at all the other psychological barriers will happen at $100, too. But this time bigger, since it's a big milestone.

[giszmo]

Most likely is that the usual heave-hoe battering ram pattern that happened at all the other psychological barriers will happen at $100, too. But this time bigger, since it's a big milestone.

To be honest, the $31.9 felt like a much bigger mile stone. A mile stone that prevented ATH from happening for just sooooo long.

[Zangelbert Bingledack]

True, the old ATH felt much bigger to us who have been around for a while, but an important aspect of the exponential growth we're seeing is that suddenly most of the speculators are new.

[Zangelbert Bingledack]

Just for fun: Quick, without checking, how long has it been since we broke the 2011 all-time high at $32?

[Piper67]

Just for fun: Quick, without checking, how long has it been since we broke the 2011 all-time high at $32?

That's easy. The last few hours of Feb 28th!

[prof7bit]

Much of the new ask volume is due to large walls between 150-600.

Hmm, a bear could just add 1000 coins for sale at 1,000,000,000 to manipulate that chart.

No. It doesn't matter at which price he adds it, the ask sum is always in BTC so he can add only as many BTC as he has. The same is true for the bid sum, its in USD [in this chart], one can only add so many USD to the bids as he actually has in his account.

[molecular]

Much of the new ask volume is due to large walls between 150-600.

Hmm, a bear could just add 1000 coins for sale at 1,000,000,000 to manipulate that chart.

But lol at the large walls, some one must expect this to really pop.

Didn't I just read some claim that on Gox you can put 1000 walls 1000$ each as long as you have $1000 on Gox? And if you withdraw your $1000 your walls wouldn't even disappear? I mean yes I was also bullish for these charts but with them not having anything to do with the actual money available how would I even be able to tell how much money I will get when I sell my dollars when all this is fake? So who's providing false info? The wall posters or those who claim the falls may be fake?

I think some users have tested it and found it not to be the case.  Plus, if you could, we'd see a LOT more than just 10mil in bids.  People would be manipulating the frak out this.

I've tested it. Invalid orders (those without enough funding) don't show in the public order book. Incidentally managing the order states when users balance changes (by trade or deposit/withdraw) is the cause for the engine lag.

[Piper67]

Much of the new ask volume is due to large walls between 150-600.

Hmm, a bear could just add 1000 coins for sale at 1,000,000,000 to manipulate that chart.

But lol at the large walls, some one must expect this to really pop.

Didn't I just read some claim that on Gox you can put 1000 walls 1000$ each as long as you have $1000 on Gox? And if you withdraw your $1000 your walls wouldn't even disappear? I mean yes I was also bullish for these charts but with them not having anything to do with the actual money available how would I even be able to tell how much money I will get when I sell my dollars when all this is fake? So who's providing false info? The wall posters or those who claim the falls may be fake?

I think some users have tested it and found it not to be the case.  Plus, if you could, we'd see a LOT more than just 10mil in bids.  People would be manipulating the frak out this.

I've tested it. Invalid orders (those without enough funding) don't show in the public order book. Incidentally managing the order states when users balance changes (by trade or deposit/withdraw) is the cause for the engine lag.

Yes... so we don't have dark pools, but in a way we sorta, kinda do, don't we?

[giszmo]

Much of the new ask volume is due to large walls between 150-600.

Hmm, a bear could just add 1000 coins for sale at 1,000,000,000 to manipulate that chart.

But lol at the large walls, some one must expect this to really pop.

Didn't I just read some claim that on Gox you can put 1000 walls 1000$ each as long as you have $1000 on Gox? And if you withdraw your $1000 your walls wouldn't even disappear? I mean yes I was also bullish for these charts but with them not having anything to do with the actual money available how would I even be able to tell how much money I will get when I sell my dollars when all this is fake? So who's providing false info? The wall posters or those who claim the falls may be fake?

I think some users have tested it and found it not to be the case.  Plus, if you could, we'd see a LOT more than just 10mil in bids.  People would be manipulating the frak out this.

I've tested it. Invalid orders (those without enough funding) don't show in the public order book. Incidentally managing the order states when users balance changes (by trade or deposit/withdraw) is the cause for the engine lag.

So for my comfort I may widthdraw bitcoins, invalidating and hiding my asks automatically until my bitcoins flow back to my account? That's what that was about? Boring.

[Walter Rothbard]

So, I transferred BTC into Gox, and Gox immediately stopped responding.

Figures.

 

[y2kcamaross]

Gox still down...

[mb300sd]

Gox still down...

Seems fine here.. I haven't tried placing an order tho

[mccorvic]

Gox still down...

Seems fine here.. I haven't tried placing an order tho

Strange. Clarkmood and bitcoinity are both giving me nothing.

[y2kcamaross]

I'm now getting a DNS error

[mb300sd]

try

WindowsKey+R
cmd
ipconfig /flushdns

[y2kcamaross]

try

WindowsKey+R
cmd
ipconfig /flushdns

It's not working on my phone or desktop, only the mobile version of their site is working for me