Wall Observer - MtGoxUSD wall movement tracker

[just1nmc]

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.

I never said anything about the triangle though, nor have I ever used TA on here.

I'm only arguing that the lag takes a normal sell off, and makes it much worse due to panic.

[ManBearPig]

The previous lag-induced, panic-driven sell-off started just below $115 and hit a low of around $87 (thank you for whoever sold to me at that price).

Once I've had my morning cuppa I might try to predict the next one - are you reading this DDoSers?

Edit: today I'm going to use a spare machine to screen-cap Bitcoinity ALL DAY, we'll have a second-by-second record of the lag then.

No, I don't have a life, nor right now. Not yet :p

[Monarch]

This is my one and only post here. So read it carefully and think about it.

Dear Bitcoiners. I want to share some insights with you.
Recently, we were under serious DDoS attacks and spamming trading-bots attacks as you could see.

Don't you ever think, that these are for our own good? WHAT IF that attacks are placed here from creators of Bitcoin,
because they want to show you the biggest flaws in the whole project? Exchanges? Yes.
The main weakness of the Bitcoin project are the exchanges, and specifically MtGox. Ask yourself.
Are we ready for mainstream? Are we really ready for taking over 1% of worldwide online transactions market cap without bulletproof trading engine?

The project Bitcoin is strong & one-of-the-kind, the planet need it. People need it. We need it. Bitcoin is here for us. It's no doubt that we'll grow big. Protocol is solid rock and community is full of smart people who are thinking outside the box.

But for going mainstream, we need decent trading platform. We must be ready for real attacks from outside of our community. From people with unlimited resources. You know who I am talking about, this is not a game. The world is full of groups who are holding chains and simply don't like this idea.

Please, if anyone competent is reading this message. Dotcom? Here's your chance. We need trading platform, its up to you now.

[The-Real-Link]

Been watching the charts earlier and there was a 4.5K ask wall at $100.  But then someone did a 1,114 coin sell, and quite a few 200-500 coin sells past that.  Surprisingly, the wall didn't last that long.

But again, it's a weekend and price has been up and down all day today / tonight.  I would imagine we'd be in cautiously-optimistic rally mode next week.

[ManBearPig]

Ask walls building at $100 and above, Bids down across the board at $80+ prices.

[just1nmc]

Been watching the charts earlier and there was a 4.5K ask wall at $100.  But then someone did a 1,114 coin sell, and quite a few 200-500 coin sells past that.  Surprisingly, the wall didn't last that long.

But again, it's a weekend and price has been up and down all day today / tonight.  I would imagine we'd be in cautiously-optimistic rally mode next week.

It's so hard to tell, I can't stop watching haha. I said a few days ago that I'd be happy with anything $90+ coming out of the weekend. I'm surprised the price has stayed in triple digits as much as it has. But you never know when another sell-off could start.

[MikeH]

this is mad - everyone's gambling they can sell and re-buy for $10+ less - sooner or later it's gonna bite you in the butt.

[elux]

Beware: Dovahbear!

[ManBearPig]

this is mad - everyone's gambling they can sell and re-buy for $10+ less - sooner or later it's gonna bite you in the butt.

I was bitten in the butt by not selling in the $200s!

Fortunately my butt's healing with all the new coins I'm sitting on :p

[molecular]

This is my one and only post here. So read it carefully and think about it.

Dear Bitcoiners. I want to share some insights with you.
Recently, we were under serious DDoS attacks and spamming trading-bots attacks as you could see.

Don't you ever think, that these are for our own good? WHAT IF that attacks are placed here from creators of Bitcoin,
because they want to show you the biggest flaws in the whole project? Exchanges? Yes.
The main weakness of the Bitcoin project are the exchanges, and specifically MtGox. Ask yourself.
Are we ready for mainstream? Are we really ready for taking over 1% of worldwide online transactions market cap without bulletproof trading engine?

The project Bitcoin is strong & one-of-the-kind, the planet need it. People need it. We need it. Bitcoin is here for us. It's no doubt that we'll grow big. Protocol is solid rock and community is full of smart people who are thinking outside the box.

But for going mainstream, we need decent trading platform. We must be ready for real attacks from outside of our community. From people with unlimited resources. You know who I am talking about, this is not a game. The world is full of groups who are holding chains and simply don't like this idea.

Please, if anyone competent is reading this message. Dotcom? Here's your chance. We need trading platform, its up to you now.

My favorite trading platform is that one cafe in my town that has wifi. It also has coffee, beer and at least two bitcoin enthusiasts.

Maybe I should open a cafe, accept bitcoin and morph it into a traditional trading floor. Back to the roots!

[molecular]

this is mad - everyone's gambling they can sell and re-buy for $10+ less - sooner or later it's gonna bite you in the butt.

oh yeah, you better make enough money now to be able to buy back in / sell back out on rally/crash and still have made a profit. Risk / reward.

[rpietila]

My favorite trading platform is that one cafe in my town that has wifi. It also has coffee, beer and at least two bitcoin enthusiasts.

Maybe I should open a cafe, accept bitcoin and morph it into a traditional trading floor. Back to the roots!

Please do. My favorite trading platform is my private-club-cum-office in my town. It also has coffee, white wine, all cutlery made of silver, and biweekly meetings of the Finnish bitcoin elite. I am running a daily volume that was only exceeded by Mt.Gox well into the 2011 

[hannesnaude]

Two things. I went to bed last night shortly after the weird low trading levels lag on mtgox started. As expected I woke up this morning to see a moderate dip and recovery. I don't feel like trawling through pages and pages of this thread, but from what little I've checked I deduced that we had (several?) market cooldowns during the past 24h. Have we heard any explanation from gox? Anything else I missed?

Secondly, take a look at this graph.
http://www.google.com/trends/explore#q=%22buy%20bitcoins%22%2C%20%22buy%20bitcoin%22&date=today%203-m&cmpt=q
The queries for both "buy bitcoin" and "buy bitcoins" peaked on Thursday the 11th, the day after the crash. The volume was also high on the day of the crash, but it is difficult to tell how many of these queries were from people who had not yet heard about the crash. These two days saw an almost 40% higher query volume than the previous peak on April the 3rd. This suggests that the anecdotes we've had on here about people who previously thought they had missed the boat rushing to get in after the crash are not isolated incidents. I expect we'll be seeing record levels of fiat on the order book  in the next week.
 

[jl2012]

I expect we'll be seeing record levels of fiat on the order book  in the next week.
 

If gox does not fuck it up again

[samson]

I expect we'll be seeing record levels of fiat on the order book  in the next week.
 

If gox does not fuck it up again

I'm sure they will, however there will still be records level of fiat on the orderbook.

[just1nmc]

Two things. I went to bed last night shortly after the weird low trading levels lag on mtgox started. As expected I woke up this morning to see a moderate dip and recovery. I don't feel like trawling through pages and pages of this thread, but from what little I've checked I deduced that we had (several?) market cooldowns during the past 24h. Have we heard any explanation from gox? Anything else I missed?

Secondly, take a look at this graph.
http://www.google.com/trends/explore#q=%22buy%20bitcoins%22%2C%20%22buy%20bitcoin%22&date=today%203-m&cmpt=q
The queries for both "buy bitcoin" and "buy bitcoins" peaked on Thursday the 11th, the day after the crash. The volume was also high on the day of the crash, but it is difficult to tell how many of these queries were from people who had not yet heard about the crash. These two days saw an almost 40% higher query volume than the previous peak on April the 3rd. This suggests that the anecdotes we've had on here about people who previously thought they had missed the boat rushing to get in after the crash are not isolated incidents. I expect we'll be seeing record levels of fiat on the order book  in the next week.
 

The trading lag reached 50 minutes as we went from $115 to $85. Eventually gox started a market cooldown, preventing orders from being places for ~15 minutes until the lag was gone. There was one or two more short cooldowns when the lag returned to over 10 minutes. They've also begun to restrict the number of orders each account can place.

[samson]

I'd appreciate a bull run to $130 followed by a flash crash down to the $50's right about now.

[rpietila]

I expect we'll be seeing record levels of fiat on the order book  in the next week.

It can easily go to $150 and over by Wednesday, but I still call for a trading range of $100-$120 for anything between 1-6 months. Every move above that should be regarded as a selling/shorting opportunity in the meantime, with bids in place in the low end of the trading range.

Btw. my public advice regarding bitcoin in my Finnish forums so far has been as follows:

- September-October 2012 (at ~$10): Buy with 1-5% of your net worth
- Feb 6-10, 2013 (at ~$20): Buy as much as you can afford to lose, even if you don't have the time to study the basics
- Apr 11, 2013 (at exactly $160): Sell 20%, to cash out double of your original investment.

LOL if I had even followed my own advice, I would be perhaps double as rich now  

Oakpacific also congratulated me for being pretty much the only bull in this thread to turn bearish during the short stint over $200. Not that I sold much though, I am in it for the longest time, not for the fiat profits that the taxman is all too willing to share, in case I ever sell anything.

[ElectricMucus]

I expect we'll be seeing record levels of fiat on the order book  in the next week.

It can easily go to $150 and over by Wednesday, but I still call for a trading range of $100-$120 for anything between 1-6 months. Every move above that should be regarded as a selling/shorting opportunity in the meantime, with bids in place in the low end of the trading range.

Btw. my public advice regarding bitcoin in my Finnish forums so far has been as follows:

- September-October 2012 (at ~$10): Buy with 1-5% of your net worth
- Feb 6-10, 2013 (at ~$20): Buy as much as you can afford to lose, even if you don't have the time to study the basics
- Apr 11, 2013 (at exactly $160): Sell 20%, to cash out double of your original investment.

LOL if I had even followed my own advice, I would be perhaps double as rich now  

Oakpacific also congratulated me for being pretty much the only bull in this thread to turn bearish during the short stint over $200. Not that I sold much though, I am in it for the longest time, not for the fiat profits that the taxman is all too willing to share, in case I ever sell anything.

Look yourself in the mirror: http://buttcoin.org/the-cargo-cult-of-bitcoin

[ManBearPig]

Bull trap ahead of DDoS? Or buy signal and hope Gox shut down as as the lag hits?

Lots of $0.10 orders.