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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1652760 times)
humanitee
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April 08, 2013, 04:13:35 PM
 #19261

The price has risen too fast, it has gone parabolic, this is due to overspeculation, some may attribute it to price realization however growth like this has *Never* been sustainable. I would have much prefered a steadier growth.
Bitcoins current price is not in line with its utility value at this point in time, people are getting greedy looking for a get rich quick scheme. Bitcoin was not designed so we could all be millionaires, but designed as a decentralized currency where fees are an order of magnitude smaller than traditional payment methods as well as the inability for governments to devalue your money through hyperinflation.
People have begun hoarding their bitcoins rather than spending them and without active commerce bitcoins intrinsic value is nothing.
I can't tell for sure when the crash will happen, but I feel that we are nearing critical mass. It may reach $250-$300/BTC before it happens, however I feel it is inevitable.
I for one have liquidated my holdings.

More people are interested in Bitcoin therefore crash.
QED
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DougTanner
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April 08, 2013, 04:14:06 PM
 #19262

The price has risen too fast, it has gone parabolic, this is due to overspeculation, some may attribute it to price realization however growth like this has *Never* been sustainable. I would have much prefered a steadier growth.
Bitcoins current price is not in line with its utility value at this point in time, people are getting greedy looking for a get rich quick scheme. Bitcoin was not designed so we could all be millionaires, but designed as a decentralized currency where fees are an order of magnitude smaller than traditional payment methods as well as the inability for governments to devalue your money through hyperinflation.
People have begun hoarding their bitcoins rather than spending them and without active commerce bitcoins intrinsic value is nothing.
I can't tell for sure when the crash will happen, but I feel that we are nearing critical mass. It may reach $250-$300/BTC before it happens, however I feel it is inevitable.
I for one have liquidated my holdings.

On a log chart, the current rise is actually linear. "Going parabolic" is exactly what you would expect at the current phase of adoption.

Help pay for my BTCCharts.com subscription: 1DTannerQHQD7qjSmA3abLQaDkVFLnBGma
NamelessOne
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April 08, 2013, 04:14:40 PM
 #19263

Wow, tantum of 1000 at 181.
Tantrum wall destroyed!
Nikolaj06
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April 08, 2013, 04:16:21 PM
 #19264

Woah 180 bid wall was bought up..

Edit. Silly bears, selling 1 k BTC at 10$ lower than what they can get if they just used their heads..
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April 08, 2013, 04:17:12 PM
 #19265

Wow, that tantrum continues.
humanitee
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April 08, 2013, 04:17:27 PM
 #19266

I admire the traders for trying to cope with Gox lag.
Never again, personally.
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April 08, 2013, 04:17:29 PM
 #19267

Still going down. This is fun!


Help pay for my BTCCharts.com subscription: 1DTannerQHQD7qjSmA3abLQaDkVFLnBGma
chrsjrcj
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April 08, 2013, 04:17:35 PM
 #19268


pokerman
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April 08, 2013, 04:18:00 PM
 #19269

The price has risen too fast, it has gone parabolic, this is due to overspeculation, some may attribute it to price realization however growth like this has *Never* been sustainable. I would have much prefered a steadier growth.
Bitcoins current price is not in line with its utility value at this point in time, people are getting greedy looking for a get rich quick scheme. Bitcoin was not designed so we could all be millionaires, but designed as a decentralized currency where fees are an order of magnitude smaller than traditional payment methods as well as the inability for governments to devalue your money through hyperinflation.
People have begun hoarding their bitcoins rather than spending them and without active commerce bitcoins intrinsic value is nothing.
I can't tell for sure when the crash will happen, but I feel that we are nearing critical mass. It may reach $250-$300/BTC before it happens, however I feel it is inevitable.
I for one have liquidated my holdings.

More people are interested in Bitcoin therefore crash.
QED

People are interested in bitcoins to make a quick buck and not for its inherent value therefore crash.
Krabby
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April 08, 2013, 04:18:54 PM
 #19270

It's only fun when i'm fiat D:
humanitee
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April 08, 2013, 04:19:24 PM
 #19271


What? Bitcoin goes up $40 bucks in a day and you think it's sinking?


The price has risen too fast, it has gone parabolic, this is due to overspeculation, some may attribute it to price realization however growth like this has *Never* been sustainable. I would have much prefered a steadier growth.
Bitcoins current price is not in line with its utility value at this point in time, people are getting greedy looking for a get rich quick scheme. Bitcoin was not designed so we could all be millionaires, but designed as a decentralized currency where fees are an order of magnitude smaller than traditional payment methods as well as the inability for governments to devalue your money through hyperinflation.
People have begun hoarding their bitcoins rather than spending them and without active commerce bitcoins intrinsic value is nothing.
I can't tell for sure when the crash will happen, but I feel that we are nearing critical mass. It may reach $250-$300/BTC before it happens, however I feel it is inevitable.
I for one have liquidated my holdings.

More people are interested in Bitcoin therefore crash.
QED

People are interested in bitcoins to make a quick buck and not for its inherent value therefore crash.


You know this for sure because?
Crazy
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April 08, 2013, 04:20:30 PM
 #19272

He knows this for sure because he has common sense and can read what people are typing.
humanitee
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April 08, 2013, 04:20:53 PM
 #19273

He knows this for sure because he has common sense and can read what people are typing.

So he doesn't then.
Thanks.
Krabby
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April 08, 2013, 04:21:04 PM
 #19274

Lag is melting away.
Gatekeeper
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April 08, 2013, 04:21:28 PM
 #19275

i was 14,250 in gox queue on Saturday, now i'm 11,800

(1470) <KLYE> But I was far too drunk to fuck a midget
(1470) <KLYE> I will fuck a chicken for 250 btc
ManBearPig
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April 08, 2013, 04:22:23 PM
 #19276

This thread never fails to amuse Smiley

I tweet crypto nonsense: https://twitter.com/DunningKruger_
lebing
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April 08, 2013, 04:22:41 PM
 #19277

i was 14,250 in gox queue on Saturday, now i'm 11,800

wow. if thats true and they are still at 15,000 they are processing over 1k apps per day?? even on the weekend?

Bro, do you even blockchain?
-E Voorhees
y2kcamaross
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April 08, 2013, 04:23:31 PM
 #19278

Some massive sells going on
ManBearPig
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April 08, 2013, 04:26:37 PM
 #19279

To the bears who haven't already shat their pants: put in buy orders at $172 and $163 - repent and come back to the fold.

Oh how this thing ain't done yet.

I tweet crypto nonsense: https://twitter.com/DunningKruger_
pokerman
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April 08, 2013, 04:27:00 PM
 #19280



You know this for sure because?

Don't get me wrong, I am all for the idea behind bitcoins, but this recent price run up is definitely not due to practical implementation of bitcoin for real world uses. The price is increasing because people have been reading news stories about how a bunch of people became millionaires from investing in bitcoins and they want to do the same. Bitcoins true value as a decentralized currency has been pushed to the side. If there weren't so many people going crazy over the price bitcoin it could achieve a more natural growth.
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