Wall Observer - MtGoxUSD wall movement tracker

[AJS_]

...

obviously didn't see the last few pages 

[molecular]

nice triangle:



bitcoin likes triangles

"bullish wedge" actually or whatever it's called

[jl2012]

nice triangle:



bitcoin likes triangles

"bullish wedge" actually or whatever it's called

Every time it stabilizes, gox fucks up 

[just1nmc]

nice triangle:



bitcoin likes triangles

"bullish wedge" actually or whatever it's called

I'm thinking a small Sunday rally.. Lots of people are waiting to see what happens over the weekend before they buy back in.

[el_rlee]

It's just them Americans sleeping. Still I say if we get over the weekend without loosing too much (i.e. not more than yesterday) we will continue the rally next week.

[thoughtfan]

Betfair (sports bet exchange) can handle more transactions per second than the NYSE. They invented a technology called Flywheel which, apparently, allows them to do it with only 2 x $50,000 servers.

They wouldnt touch bitcoin with a bargepole, but if someone could hire their programmers, or license their technology things would be much improved.

http://www.hpts.ws/papers/2007/HPTS%20Workshop%20-%20Betfair%20-%20Flywheel.pdf

50,000 transactions per second.

Thanks for the Betfair 'Flywheel' link.  Until you mentioned it I hadn't realised my period of trading on Betfair a while back was probably what had set my expectation level for a reasonable processing capacity for a trading platform.  I was not aware the fluctuation in demand and sheer volume had meant they actually had to develop an exceptional system.  Maybe it's too late for MtGox - maybe we'll look at them in a few years as the AltaVista that led the way for a short while - but surely some of the new VC-backed trading platforms that appear to be on their way to open this market up nicely should at least be looking at the principles behind the Betfair system.

As someone has mentioned before the likes of the NYSE, by having access restricted to brokers, have the luxury of not having hoards of amateurs jumping on trends at whim causing the kind of peaks in demand the Betfair system is designed to handle.  I'm no programmer but I kinda like where you're coming from with this cul.

[just1nmc]

Someone sold several thousand coins into the $100 wall

[jl2012]

Someone sold several thousand coins into the $100 wall

And the lag is 0. I am quite sure that one 12 hours earlier was a DDOS attack

[smoothie]

Thank you bulls for once again allowing me to sell over 100. Please get it above 125 shortly.

Says the guy who sells at any price. How many coins did you sell at $5?

Well in this post he sold 30 BTC around $5 (approximate time of the post). LOL

look on the bright side, its still worth twice as much as a dollar

I doubt that will be the case for long. I decided to sell 30+ BTC just now because I am
tired of holding them and watching them lose value. Better to get something out of it now
then to see it worth 50% less in a couple of weeks.

I can always mine more since I get free power but even then it is quickly becoming not
worth it while the hardware depreciates.

[just1nmc]

Someone sold several thousand coins into the $100 wall

And the lag is 0. I am quite sure that one 12 hours earlier was a DDOS attack

Exactly. After this week it's pretty obvious that the lag creates panic sell offs, and not the other way around.

[Piper67]

Thank you bulls for once again allowing me to sell over 100. Please get it above 125 shortly.

Says the guy who sells at any price. How many coins did you sell at $5?

Well in this post he sold 30 BTC around $5 (approximate time of the post). LOL

look on the bright side, its still worth twice as much as a dollar

I doubt that will be the case for long. I decided to sell 30+ BTC just now because I am
tired of holding them and watching them lose value. Better to get something out of it now
then to see it worth 50% less in a couple of weeks.

I can always mine more since I get free power but even then it is quickly becoming not
worth it while the hardware depreciates.

We should all thank him from the bottom of our greedy hearts for all the coins he's undersold.

[ManBearPig]

I'm still amazed that people are falling for it though I am glad of the cheap coins on the way down.

It's very predictable if you watch it and has the secondary effect of suppressing sudden price spikes.

Maybe it's a Force for Good in disguise? :p

[Coincrazy]

As someone has mentioned before the likes of the NYSE, by having access restricted to brokers, have the luxury of not having hoards of amateurs jumping on trends at whim causing the kind of peaks in demand the Betfair system is designed to handle. ....

most internet based trading systems allow ordinary users to place orders on NYSE or ARCA

orders are executed based on prices @ NYSE , almost instantly (a few seconds lag if at all)

in this internet and computing age, I see the absence / presence of a broker as a hindrance rather than boon

IMHO



regards

[just1nmc]

I'm still amazed that people are falling for it though I am glad of the cheap coins on the way down.

It's very predictable if you watch it and has the secondary effect of suppressing sudden price spikes.

Maybe it's a Force for Good in disguise? :p

I don't mind getting some extra coins off it

There's still people claiming the lag is propping up the price though; I don't understand it. Every sell off has shown the opposite.

[ManBearPig]

nice triangle:



bitcoin likes triangles

"bullish wedge" actually or whatever it's called

I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike.

[ManBearPig]

I'm still amazed that people are falling for it though I am glad of the cheap coins on the way down.

It's very predictable if you watch it and has the secondary effect of suppressing sudden price spikes.

Maybe it's a Force for Good in disguise? :p

I don't mind getting some extra coins off it

There's still people claiming the lag is propping up the price though; I don't understand it. Every sell off has shown the opposite.

It's interesting. There is the immediate panic-selling and the predictable pattern of decline based on a few periods of oblivion the exact size of the lag. Now people are beginning to expect it I think it might suppress the price, working AGAINST whoever's orchestrating this.

I still can't believe this an emergent problem of Mt Gox's software.

As a people-watcher, I find it a fascinating lesson in mass psychology though!

[ElectricMucus]

nice triangle:



bitcoin likes triangles

"bullish wedge" actually or whatever it's called

I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike.

Meanwhile on mtgox the price broke through at the lower end....
with zero lag.

[just1nmc]

nice triangle:



bitcoin likes triangles

"bullish wedge" actually or whatever it's called

I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike.

Meanwhile on mtgox the price broke through at the lower end....
with zero lag.

Someone decided to sell a few thousand coins at $100, and the price stopped there because there wasn't lag to provoke more selling.

[ElectricMucus]

nice triangle:



bitcoin likes triangles

"bullish wedge" actually or whatever it's called

I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike.

Meanwhile on mtgox the price broke through at the lower end....
with zero lag.

Someone decided to sell a few thousand coins at $100, and the price stopped there because there wasn't lag to provoke more selling.

Still we broke the triangle.
You can't have it both ways. It could have been "someone buying a few thousand at 140" but it wasn't. Either accept the market for what it is including all participants or leave TA alone.

[molecular]

nice triangle:



bitcoin likes triangles

"bullish wedge" actually or whatever it's called

I'd be very wary of traditional trend analysis right now while we can expect another DDoS/panic to batter down any spike.

True. The triangle didn't deliver although it was broken to the upside substantially.

EDIT: