Wall Observer - MtGoxUSD wall movement tracker

[Zangelbert Bingledack]

That said, the price of Litecoins is outrageous right now. Since there are 84 million LTC to be mined in total, that is like a  BTC price of $8, which is a twelfth of what Bitcoin is at now. There is no freakin' way Litecoin is a twelfth as valuable as Bitcoin, by any measure at all. However, since they are about the same the price could equilibriate to something like one-fifth of the BTC price if nothing goes wrong, though that seems ridiculously optimistic.

In any case, any gain in Litecoin is a gain for Bitcoin as well. If it continues with its present function, it will probably be as big as it needs to be to provide an adequate hedge for BTC price. A third redundant coin won't join, because the hedging, tumbling, and testnet/backup functions it could provide would be minimal at the margin.

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[samson]

This week is going to be batshit insane, practically no walls, massive media attention

Although, I'm starting to get worried the lack of asks will cause a one-day gain of > 50% value and trigger a huge sell-off like in 2011 when people peg that as the peak. Was anyone here following the walls as closely as we are now? What did the ask/bid charts look like during that fateful day?

No asks / very low asks is a very bad warning sign for me.

It suggests a peak of speculative greed. So the price is purely based on speculation and nothing else. This will end well  

[DougTanner]

This week is going to be batshit insane, practically no walls, massive media attention

Although, I'm starting to get worried the lack of asks will cause a one-day gain of > 50% value and trigger a huge sell-off like in 2011 when people peg that as the peak. Was anyone here following the walls as closely as we are now? What did the ask/bid charts look like during that fateful day?

No asks / very low asks is a very bad warning sign for me.

It suggests a peak of speculative greed. So the price is purely based on speculation and nothing else. This will end well  

Yes, that's how I feel too, it means all the available Bitcoins are sitting off the charts, waiting to be sold in market orders after a peak is detected. A good % of those newbies who bought massive amounts in the last 3 months have got to be asking themselves "is 100% profit good enough, do I really want to risk losing it all"?

[samson]

Yes, that's how I feel too, it means all the available Bitcoins are sitting off the charts, waiting to be sold in market orders after a peak is detected. A good % of those newbies who bought massive amounts in the last 3 months have got to be asking themselves "is 100% profit good enough, do I really want to risk losing it all"?

If the price goes down by $10 to $15 i have a feeling we would be inundated with realistic asks.

If the asks are there then the price can rise sensibly and so the cycle continues.

[zby]

This week is going to be batshit insane, practically no walls, massive media attention

Although, I'm starting to get worried the lack of asks will cause a one-day gain of > 50% value and trigger a huge sell-off like in 2011 when people peg that as the peak. Was anyone here following the walls as closely as we are now? What did the ask/bid charts look like during that fateful day?

It was quite the reverse - no bids and huge ask wall that was being eaten, it looked like a huge dark blue tsunami wave hovering over the tiny yellow streak of bids.

[Piper67]

This week is going to be batshit insane, practically no walls, massive media attention

Although, I'm starting to get worried the lack of asks will cause a one-day gain of > 50% value and trigger a huge sell-off like in 2011 when people peg that as the peak. Was anyone here following the walls as closely as we are now? What did the ask/bid charts look like during that fateful day?

It was quite the reverse - no bids and huge ask wall that was being eaten, it looked like a huge dark blue tsunami wave hovering over the tiny white streak of bids.

Don't you just love newbies coming in to tell us how this is just like 2011? 

[DougTanner]

This week is going to be batshit insane, practically no walls, massive media attention

Although, I'm starting to get worried the lack of asks will cause a one-day gain of > 50% value and trigger a huge sell-off like in 2011 when people peg that as the peak. Was anyone here following the walls as closely as we are now? What did the ask/bid charts look like during that fateful day?

It was quite the reverse - no bids and huge ask wall that was being eaten, it looked like a huge dark blue tsunami wave hovering over the tiny white streak of bids.

Don't you just love newbies coming in to tell us how this is just like 2011? 

I was around in 2011, I just wasn't watching wall pics. That's why I was asking...

[Newscastix]

Edit: 107.26! 107.30! 107.32! 107.65! 108.00!

[oakpacific]

This week is going to be batshit insane, practically no walls, massive media attention

Although, I'm starting to get worried the lack of asks will cause a one-day gain of > 50% value and trigger a huge sell-off like in 2011 when people peg that as the peak. Was anyone here following the walls as closely as we are now? What did the ask/bid charts look like during that fateful day?

It was quite the reverse - no bids and huge ask wall that was being eaten, it looked like a huge dark blue tsunami wave hovering over the tiny white streak of bids.

Don't you just love newbies coming in to tell us how this is just like 2011? 

I was around in 2011, I just wasn't watching wall pics. That's why I was asking...

We have seen several 2011 scale sell-offs already, and yes, a chain-fork.

[Chalkbot]

This week is going to be batshit insane, practically no walls, massive media attention

Although, I'm starting to get worried the lack of asks will cause a one-day gain of > 50% value and trigger a huge sell-off like in 2011 when people peg that as the peak. Was anyone here following the walls as closely as we are now? What did the ask/bid charts look like during that fateful day?

It was quite the reverse - no bids and huge ask wall that was being eaten, it looked like a huge dark blue tsunami wave hovering over the tiny white streak of bids.

Don't you just love newbies coming in to tell us how this is just like 2011? 

I'm going to have my IT department look into this bitcoin thing. I will let you guys know if it's legit.

[lebing]

I'm going to have my IT department look into this bitcoin thing. I will let you guys know if it's legit.

[DougTanner]

$108, anyone know how to get the decimal places on BtcCharts? I seem to remember seeing before them but now they've disapeared?

[ManBearPig]

$108, anyone know how to get the decimal places on BtcCharts? I seem to remember seeing before them but now they've disapeared?

I think we can dispense with decimal points from here on in

[deeplink]

$108, anyone know how to get the decimal places on BtcCharts? I seem to remember seeing before them but now they've disapeared?

Reload page worked for me.

[aurora]

wonder, what would happened when everybody buys enough coins? welcome to single digits?

[lebing]

wonder, what would happened when everybody buys enough coins? welcome to single digits?

huh?

[Zomdifros]

wonder, what would happened when everybody buys enough coins? welcome to single digits?

If everybody in the whole world would buy so much coins as for them to declare they have acquired enough of them, then yes, a microbitcoin would be notated in single digits.

[ManBearPig]

wonder, what would happened when everybody buys enough coins? welcome to single digits?

huh?

I'm guessing he meant integers?

[sukiho]

lack of asks could just be the nature of this market, you dont need to preset them to catch them, whereas due to gox lag you have to preset buys

[samson]

lack of asks could just be the nature of this market, you dont need to preset them to catch them, whereas due to gox lag you have to preset buys

If it starts going too low to fast there's no way to cancel them though. It's a risky strategy.