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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1649099 times)
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March 30, 2013, 04:54:00 AM
 #16821

I don't see the wall on clarkmoody either

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March 30, 2013, 05:00:25 AM
 #16822

I don't see the wall on clarkmoody either

i cant see them either

but they show up on bitcoinity.org

they also show up on http://bitcoincharts.com/markets/mtgoxUSD_depth.html

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March 30, 2013, 05:02:18 AM
 #16823

I don't see the wall on clarkmoody either

i cant see them either

but they show up on bitcoinity.org

they also show up on http://bitcoincharts.com/markets/mtgoxUSD_depth.html

I guess that's why someone are selling small amounts into the wall, poor guy, mind the hidden wall. Wink

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March 30, 2013, 05:04:02 AM
 #16824

Is it lagging?

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March 30, 2013, 05:10:03 AM
 #16825

That's a giant monolith of a bid wall... are we going through 100 on a Saturday???

I would've been truly happy to stay above 80 for the weekend. If we come anywhere near 100, next week will be remembered for a long time in the history of Bitcoin.

Me too, glad I'm all in again. The flash crash was a great opportunity.

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March 30, 2013, 07:19:06 AM
 #16826

hurry up and get past 100 guys. i want to sell my next batch at 111.

on a more serious note.. does anyone else look at the order books and figure a more accurate price
of btc is -40K back of the highest bid?

It is hard to take a price of 92-93 serious when 40K in sold bitcoin drops the price down to approx 78.

it drops it... for a few hours...

well sure.. but anyone with serious btc has to chuckle at the current high bid.. knowing it is meaningless to them
if they truly wish to sell a chunk. they must sit there and calculate what they would really get when selling and it
aint 93 for example.

so i always look -40K back of the high bid for a more accurate value if some whales decide to sell.

fcmatt you appear to me to be conflating three things here: the risks associated with others selling, those of us (me) selling and an evaluation/estimate of BTC right now.

I'll cover them separately:

i) In the case of the risk of others (a whale) selling I agree with Holliday
A 40k buy takes us to approx $150. Is that more realistic?
Given past performance which is more likely: a selling whale or a buying whale?  Of course if you believe we are at a peak and due for a significant reversal then basing your evaluation on the instance of the seller whale will better reflect your belief.  However, without presenting your reasoning behind dismissing the opposite it seems odd to me to only consider one side.

ii) When it comes to the evaluation of my own BTC holding of course doing the multiplication based on last price is ludicrous especially if a bot a lot of the time is giving us a figure with zero depth.  So yes, without doing the math into the bid depth for an actual calculation based on slippage it is probably not a bad means of estimating, depending on how much you'd be selling, to make a subtraction based on depth.  Personally I wouldn't use MtGox for a major sell because don't trust that a significant chunk would make it out of Japan in a timely manner without additional costs and questions.  Instead being fortunate enough to be in a district within many LocalBitcoin buyers (London) I do a screen scrape of them all to do a calculation based on advertised available amounts and prices to get an 'including slippage' evaluation.  Of course unlike with an exchange I have to assume sellers have the amounts they say they do and that they would honour my order.  However, given that, I don't think clicking 'Sell' for the max for each of the top sellers till I've sold all my coin then spending a day or two driving round London to do the transactions is the worst way of putting a price on my holding.  In actuality I have no intention of buying pounds in any great numbers with my Bitcoin for a very long time if ever - and if I did I would explore the options to try and get the best price preferably from one seller - but if I want to put a provisional figure on it I don't think my method is that unreasonable.

iii) I don't think basing your current evaluation of Bitcoin (irrespective of your own holding) entirely on the assumption of a potential selling whale's actions is likely to give you anything realistic.  There are so many factors to take into consideration, most of which would in my book have a bigger part in my estimation evaluation than your scenario, so I would venture to suggest you may be doing yourself a disservice if you're using your described scenario alone to justify not taking the current price seriously.

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 30, 2013, 07:53:14 AM
 #16827

Poor bears...



poor irrational bears:


PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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March 30, 2013, 08:13:01 AM
 #16828


What is that index? How calculated? Smiley

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March 30, 2013, 11:37:49 AM
 #16829


I don't know. Best ask in bitfinex thread: https://bitcointalk.org/index.php?topic=119745
 

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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March 30, 2013, 11:51:22 AM
 #16830

how about some coins @81,xx?
I wouldnt mind ...

edit: but maybe 85,xx will be the best I can get today?
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March 30, 2013, 12:01:48 PM
 #16831

volume way down, symmetric walls, saturday & easter weekend. drama building?

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March 30, 2013, 12:14:49 PM
 #16832

volume way down, symmetric walls, saturday & easter weekend. drama building?



am i crazy, or does that wall pic bear a striking resemblance to troll face?

good thing i don't really buy into TA or i'd be scared
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March 30, 2013, 12:22:18 PM
 #16833

volume way down, symmetric walls, saturday & easter weekend. drama building?



When you say 'volume way down', just to give it a bit of context it is already on $2,684,177.60 so even with almost half the the day to go it is the 23rd highest volume day to date and 3rd highest weekend day by volume?!  Just sayin... Wink

But with Bid sum on Gox still over $10,000 and Ask sum still below 70,000BTC there's potential for things to happen Smiley


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 30, 2013, 12:40:04 PM
 #16834

Stop press:  Economics Expert in suit and tie on Sky News says "It's totally unsafe. [People considering putting money into Bitcoin] might as well burn their money in a pile as far as I'm concerned. Yes, Bitcoin has doubled in value over the last month but it has every sign of being a bubble."

SELL SELL SELL  Grin Cheesy Grin Cheesy Wink Shocked Roll Eyes

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March 30, 2013, 12:46:03 PM
 #16835


If he was an economist, i would say buy buy buy, but i believe he was a spokesman for FxPro....which raises a question of motive, maybe?
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March 30, 2013, 12:46:56 PM
 #16836


Perhaps he knows a good South European bank to invest in  Grin

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March 30, 2013, 01:25:16 PM
 #16837


Wow... that is one of the worst bitcoin article I've seen. They portrait bitcoin as being invented by [evil] "hackers" and currently being developed in some sort of filthy ghetto by some hipster, no doubt to show what horrible "lower class" people are behind it to buy drugs and illegal stuff with your money, then finish with a quote from some uneducated bear to spread fear.

1SLixz2vRvjdpzZTep4Tiqs82Jc28tc6J
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March 30, 2013, 02:20:47 PM
 #16838

http://www.forbes.com/sites/jonmatonis/2013/03/28/tradehill-exchange-adds-dark-pools-of-bitcoin-liquidity/
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March 30, 2013, 02:30:21 PM
 #16839


Quote
This could be the only way of safeguarding your cash from thieving banks and governments. Who would have thought the day would come when a hacker is trusted more than banks.

Well, long before bitcoin existed I trusted hackers more than banks, governments, politics, media and journalists. And I hope everybody here see it the same way.

Gods sent us a powerful tool - cryptography - to fight with those who are trying to exploit us. USE IT!!
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March 30, 2013, 02:40:57 PM
 #16840

What everybody is waiting for is the European exchanges opening after easter so we can gauge the sentiment of the Euro after Cyprus.


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