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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1650631 times)
molecular
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April 14, 2013, 10:48:48 AM
 #22921

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!

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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April 14, 2013, 10:50:53 AM
 #22922

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.

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April 14, 2013, 10:54:41 AM
 #22923


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  Grin

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April 14, 2013, 11:05:07 AM
 #22924

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.
 
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April 14, 2013, 11:16:24 AM
 #22925

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

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April 14, 2013, 11:17:30 AM
 #22926

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.
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April 14, 2013, 11:21:20 AM
 #22927

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.

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April 14, 2013, 11:29:58 AM
 #22928

I'd appreciate a bull run to $130 followed by a flash crash down to the $50's right about now.
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April 14, 2013, 11:36:46 AM
 #22929

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  Cheesy

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.

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April 14, 2013, 11:41:16 AM
 #22930

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  Cheesy

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

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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April 14, 2013, 11:42:04 AM
 #22931



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

Lots of $0.10 orders.

I tweet crypto nonsense: https://twitter.com/DunningKruger_
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April 14, 2013, 11:47:07 AM
 #22932

... I don't feel like trawling through pages and pages of this thread...

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.


Thanks a mil man. We really should have a strictly moderated thread or some other central location where this kind of information can be caught up on at a glance. Facts only, no interpretations or predictions. Maybe something like this exists already?
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April 14, 2013, 11:49:24 AM
 #22933

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  Cheesy

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

Why exactly you find it offensive that my followers have cashed out their original investment in double in just 2 months, are riding the freebies of 80% of their bitcoins, and are now prepared to buy some back if ever it hits $30-$50, or sell to the strength if ever we hit a bubble territory again?

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April 14, 2013, 11:51:13 AM
 #22934



Ominous Ask walls developing.

I tweet crypto nonsense: https://twitter.com/DunningKruger_
ElectricMucus
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April 14, 2013, 11:51:29 AM
 #22935

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  Cheesy

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

Why exactly you find it offensive that my followers have cashed out their original investment in double in just 2 months, are riding the freebies of 80% of their bitcoins, and are now prepared to buy some back if ever it hits $30-$50, or sell to the strength if ever we hit a bubble territory again?

Just read it.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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April 14, 2013, 12:13:12 PM
 #22936

Just read it.
Grin I did.
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April 14, 2013, 12:38:15 PM
 #22937

rpietila is actually a shaman.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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April 14, 2013, 12:42:07 PM
 #22938

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  Cheesy

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.

what is the best exchange to register with ?

do you leave some coins at the exchange or do you immediately move them to your PC. if move to PC, do exchange staff help ?

do you use windows ? IF so could you (even if by PM) tell me which client do you use or suggest to your friends


TIA


_______ Have a nice day folks =:) _______
===I'm wondering why I was slaving away 9 to 5 , NOT knowing Bitcoins earlier ; Regards, CC===
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April 14, 2013, 01:09:17 PM
 #22939


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  Grin

wow! Cafes are also traditionally used for gossiping and sharing news. So that's also a good fit for the bitcoin community Wink

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molecular
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April 14, 2013, 01:12:40 PM
 #22940

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.

What does that mean "you call for"? You wish?

I'd probably be willing to bet against a statement like: "Bitcoin daily vwap will be in the range $100-$120 80% of the days from 4/15 to 7/15 2013."

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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