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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1649404 times)
molecular
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April 01, 2013, 07:59:16 PM
 #17201

The price, being a little fluffy at the moment, is susceptible to bad news. Bitcoin Central and/or Instawallet getting raided and losing everyone's money would cause a news splash and a crash, especially since it throws cold water on the "move your money out of banks and into Bitcoin" theme that the media is running with. It would be a great buying op, could take us down to $60. Otherwise, we're likely to continue this meteoric rise.

Unless the hypothetical thief dumps all his coins at once I doubt we'll see anything to crazy.  The fork issue was a MUCH larger test of bitcoin than this.

I'm not sure, this may be true for us in the know how bad a double spend is. I doubt the general population can even relate to what that problem is. They can however relate to "BITCOIN HACKED UNSAFE SELL!" as we've witnessed before. I still doubt a large effect, though.

EDIT: journalists own coins Wink

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Zangelbert Bingledack
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April 01, 2013, 08:05:50 PM
 #17202

The price, being a little fluffy at the moment, is susceptible to bad news. Bitcoin Central and/or Instawallet getting raided and losing everyone's money would cause a news splash and a crash, especially since it throws cold water on the "move your money out of banks and into Bitcoin" theme that the media is running with. It would be a great buying op, could take us down to $60. Otherwise, we're likely to continue this meteoric rise.

Unless the hypothetical thief dumps all his coins at once I doubt we'll see anything to crazy.  The fork issue was a MUCH larger test of bitcoin than this.

It's all about how they spin it. BC partnering with a bank stood out as huge for some people, and it hurts extra because we're riding the Cyprus wave. Depends on how bad the hack was, too. People would say, "What's the difference if my money gets haircutted or hacked away?"
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April 01, 2013, 08:13:26 PM
 #17203

my bro just found on reddit, thought I'd share here.


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April 01, 2013, 08:30:02 PM
 #17204

The price, being a little fluffy at the moment, is susceptible to bad news. Bitcoin Central and/or Instawallet getting raided and losing everyone's money would cause a news splash and a crash, especially since it throws cold water on the "move your money out of banks and into Bitcoin" theme that the media is running with. It would be a great buying op, could take us down to $60. Otherwise, we're likely to continue this meteoric rise.

When was instawallet hacked? I heard 40k+BTC was stolen?
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April 01, 2013, 08:53:03 PM
 #17205

It really depends how much fuel the bulls have left I would think.
Helicopter Ben says:

Let's make more fuel out of thin air. Send it all to MtGox.
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April 01, 2013, 09:01:31 PM
 #17206

I think Proudhon is so rich in BTC that he finds a perverse joy in making predictions against his own interest.

And if then indeed goes down, hey... He was right  Wink

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April 01, 2013, 09:26:10 PM
 #17207


Wow, way to not let the only guy who knows a shred about Bitcoin talk.
Nobody can explain it adequately in these terrible 6 minute time slots. It is rather unfortunate.
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April 01, 2013, 09:30:28 PM
 #17208


Its so hard to watch people who have no idea about bitcoin talk about it.

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
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April 01, 2013, 09:31:46 PM
 #17209


It's not about discussing bitcoin. It's not even about putting down bitcoin. It's about talking smack and ratings. TV news has turned into the WWF.

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April 01, 2013, 09:33:02 PM
 #17210


Wow, way to not let the only guy who knows a shred about Bitcoin talk.
Nobody can explain it adequately in these terrible 6 minute time slots. It is rather unfortunate.

It's really a problem of letting "both sides" have an "equal" say.  The news org wants to appear unbiased and thus compelled to let a nay-sayer on for this reason no matter what the subject, but what happens is that it is infinitely easier for the nay-sayer to just make-up facts or talking points on the spot without any thought and, thus, get more talking time.

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The-Real-Link
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April 01, 2013, 09:42:23 PM
 #17211

This wasn't appearing on Bitcoinity but someone, somewhere just did some insane buys.

Listen to Bitcoin is perhaps a nice secondary source to see insanity if you wish.







None of those huge buys showed up on Bitcoinity so if it's not coming from Gox, then where?

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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April 01, 2013, 09:43:54 PM
 #17212


Wow, way to not let the only guy who knows a shred about Bitcoin talk.
Nobody can explain it adequately in these terrible 6 minute time slots. It is rather unfortunate.
'Wow' was my first reaction too.  Yet if you think about it this seems to be what we need to be expecting really looking at what's come out in recent days.  I think it's even worse in the US because all these shows seem to have cheerful dumb one (I guess supposedly representing their viewership), a supposedly more informed one whose job it is to give a neutral analysis, you've got one 'expert' for and one against.  Of those only one will really understand for the simple reason the dumb one is dumb and won't get it, the 'informed' one will not stick his neck out but will want to sound knowledgeable whose focus is to ask questions that make him sound good but won't listen to the answers.  The chances of finding an 'expert' against who understands basically anything about Bitcoin is slim because if you understand it you most probably 'get' it and therefore won't be against it and the poor expert 'for' might understand it well enough to make business decisions based on his confidence in his own understanding but might not be familiar enough with the dumbest questions to be able to sneak in the 'best' answers in the few second gaps between when they all are talking over one another.

Way to go America Smiley

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April 01, 2013, 09:45:06 PM
 #17213

Real-Link, What makes you so sure those big transactions aren't real-world purchases of products, or inter-wallet transfers?

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April 01, 2013, 09:47:24 PM
 #17214

This wasn't appearing on Bitcoinity but someone, somewhere just did some insane buys.

Listen to Bitcoin is perhaps a nice secondary source to see insanity if you wish.







None of those huge buys showed up on Bitcoinity so if it's not coming from Gox, then where?

If those big bubbles didn't have both a Bitcoin and Fiat figure in them then they are not exchange trades but Bitcoin transactions that have come from the BlockChain.info api.  Most of those tiny bubbles with just btc prices too are the SatoshiDice betts being picked up.

That is not to say they weren't currency exchanges - the LocalBitcoin and other off-exchange exchanges are going to show up but it could just as well have been someone transferring bitcoin from one wallet to another of his own, an international transfer or whatever.

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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April 01, 2013, 09:50:49 PM
 #17215

Ah, thank you.  I thought the B with the Fiat price below was someone cashing out and they received that much fiat.  There is still potential that all that coin could be used to buy, sell, or be used though.

Sorry to spook the thread but hey, now we know what a 6K transfer on LTB looks like Wink.

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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April 01, 2013, 10:03:53 PM
 #17216

I think Proudhon is so rich in BTC that he finds a perverse joy in making predictions against his own interest.

And if then indeed goes down, hey... He was right  Wink

My theory is that proudhon made 100x his money by buying at 5c and selling it all at $5.
Now he hurts from kicking himself so much.

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April 01, 2013, 10:07:18 PM
 #17217

I think Proudhon is so rich in BTC that he finds a perverse joy in making predictions against his own interest.

And if then indeed goes down, hey... He was right  Wink

My theory is that proudhon made 100x his money by buying at 5c and selling it all at $5.
Now he hurts from kicking himself so much.

The question now is how high into triple-digits will we need to get until he starts warning us of "crash to double-digits!"?

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April 01, 2013, 10:09:21 PM
 #17218

105.80 again!
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April 01, 2013, 10:12:53 PM
 #17219

106 all-time high

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April 01, 2013, 10:13:04 PM
 #17220


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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