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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1651584 times)
el_rlee
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April 15, 2013, 02:52:05 PM
 #23101

I am verified, and Gox does not offer the highest prices
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ElectricMucus
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April 15, 2013, 02:53:08 PM
 #23102

I am verified, and Gox does not offer the highest prices

Highest prices with enough liquidity.

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.
deeplink
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April 15, 2013, 02:53:32 PM
 #23103

Think about it: You are sitting on 10x-50x profits from the rally, missed the top and want some cash. Mtgox is having issues.

Your options are:
Sell now and withdraw asap. Some are doing just that (price is creeping down slowly) But that means you can't get anything as long as you aren't verified.
Wait till you are verified and sell then.
You can if all fails withdraw you coins and sell them somewhere else. But still gox offers the highest prices so people think it is worth waiting. Added to this other exchanges lack liquidity.


A rational trader would maybe do it like you described in the second option, but I think you give the panic sellers too much credit here. imo most have sold first, then started thinking about how to get the money out.
bixcoin
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April 15, 2013, 02:54:42 PM
 #23104


No. Most people wanting to get out would have already sold their coins. Why would they risk waiting a week or two to be verified first if they think the price will drop further?

agree



So you already sold your coins?

Yes. I sold at a very good time, but unfortunately I have to pay for that by part of my fiat being frozen/vanished on bitcoin-24. Still I made withdrawals of about 250% my original investment via mtgox and getting a little nervous since it's taking too long.  I already lost about 1000BC in funny Bitcoin "Investments" or "Exchanges". This experience however shows me how I only think of really posessing something of real value, once this money hits my good old bank account. And thus, makes me believe 100$ per BC is still too much.
Anyway, I still have enough fiat on gox to fool around and maybe buy in again when I think it makes sense.
ManBearPig
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April 15, 2013, 02:56:36 PM
 #23105

Same old noises with nothing but a gut feeling to back them up.

Zzz...

FFS bearish, bullish this ain't a football game. Just trade it as you see it and stop being so partisan.

I tweet crypto nonsense: https://twitter.com/DunningKruger_
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April 15, 2013, 03:08:41 PM
 #23106

Same old noises with nothing but a gut feeling to back them up.

Zzz...

FFS bearish, bullish this ain't a football game. Just trade it as you see it and stop being so partisan.

+1. It's one thing to have an opinion about how things will go but it's another to try and defend it as the unassailable truth. This isn't the climate change debate.

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y2kcamaross
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April 15, 2013, 03:09:10 PM
 #23107

Verification queue is at 28,300 as of right now, if anyone is interested.

Lots of people want their fiat out of gox. Most will wait with selling till they can withdraw so their funds aren't locked.
Why do you even bother coming in and talking negatively nonstop?  Why waste your time, it makes no sense.
byronbb
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April 15, 2013, 03:10:50 PM
 #23108

Over 1 million BTC sold over the past week. Price is holding in the $90-$100 range.

Bullllllllish.

I can't wait till the 80-90 range is considered bullish by you guys.  Cheesy

I seem to recall $15-$20 was bearish.

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April 15, 2013, 03:11:24 PM
 #23109

Verification queue is at 28,300 as of right now, if anyone is interested.

source?



Lots of people want their fiat out of gox.

And I am one of them. Waiting for my first (this month's first) SEPA withdrawal for one week now. This used to go a lot faster. Anybody experiencing the same?


me. having two transactions, one confirmed on the 8th one on the 10th, neither hit my account so far
My source is my buddy who was just denied verification due to his id scan not being in color, so he resubmitted
ElectricMucus
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April 15, 2013, 03:14:47 PM
 #23110

Mind you I am merly offering you an explanation for the waiting line other then: "Those people are here to buy"
It's probably a mixture of both. This is speculation, that's what I am doing, what you are doing.

Don't attack me because I offer a different opinion.

Think about it: You are sitting on 10x-50x profits from the rally, missed the top and want some cash. Mtgox is having issues.

Your options are:
Sell now and withdraw asap. Some are doing just that (price is creeping down slowly) But that means you can't get anything as long as you aren't verified.
Wait till you are verified and sell then.
You can if all fails withdraw you coins and sell them somewhere else. But still gox offers the highest prices so people think it is worth waiting. Added to this other exchanges lack liquidity.


A rational trader would maybe do it like you described in the second option, but I think you give the panic sellers too much credit here. imo most have sold first, then started thinking about how to get the money out.


Lets wait and find out.


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bixcoin
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April 15, 2013, 03:17:00 PM
 #23111


Why do you even bother coming in and talking negatively nonstop?  Why waste your time, it makes no sense.

Is it less time wasting talking positively? Reminds me a year ago, when anybody calling Pirate a Ponzi-scheme was told to shut up.
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April 15, 2013, 03:19:34 PM
 #23112


Why do you even bother coming in and talking negatively nonstop?  Why waste your time, it makes no sense.

Is it less time wasting talking positively? Reminds me a year ago, when anybody calling Pirate a Ponzi-scheme was told to shut up.
Nope, if they are repeatedly saying the same thing, negatively or postively, still time wasting.  I just don't understand the point in repeating the same things over and over and over and over
sukiho
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April 15, 2013, 03:20:28 PM
 #23113

Verification queue is at 28,300 as of right now, if anyone is interested.

source?



Lots of people want their fiat out of gox.

And I am one of them. Waiting for my first (this month's first) SEPA withdrawal for one week now. This used to go a lot faster. Anybody experiencing the same?


me. having two transactions, one confirmed on the 8th one on the 10th, neither hit my account so far
My source is my buddy who was just denied verification due to his id scan not being in color, so he resubmitted
I hope they accept my b&w telephone bill, I want to get my btc onto another exchange, don't even know why they want verification, its only a few hundred dollars worth
GreekGeek
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April 15, 2013, 03:51:30 PM
 #23114

I am bored  Sad
this thread is very quiet when the price stabilizes

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RMT2J
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April 15, 2013, 04:01:06 PM
 #23115

dirty market, profit gainers, yuck!
Digikeys
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April 15, 2013, 04:12:05 PM
 #23116

is anyone else watching bitstamp at the moment? (and the last half an hour?)
GreekGeek
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April 15, 2013, 04:15:53 PM
 #23117

is anyone else watching bitstamp at the moment? (and the last half an hour?)

it's droping

edit:

and it's down probably

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UKMark
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April 15, 2013, 04:17:12 PM
 #23118

I feel walls are typically used to push the price in the opposite direction. Say the price is 100 and I want to buy some coins below that. I can put a nice big wall at ask 100.5 and then people coming in see the wall and thing that they won't be able to sell their coins if they put them behind the wall so they put them just in front, maybe 99.5 or whatever. Then I can snap up those coins at 99.5 and wait for the next punter to come along. If I am patient, I can get a lot more coins for my money than if I just bought since otherwise my buys would push the price up. As soon as my wall starts being eaten, I close it down or move it back, I absolutely am not intending to sell those coins at that price. This works in both directions.

I actually played with this a little back when bitcoin-24 was working. Managed to push the coins I wanted to sell up a whole $5 because every time I would raise the price on the ones I put up on the buy side, someone would jump in just a little bit higher. It's not without risk though.

Bottom line, do not trust the walls to mean much. They will evaporate in a heartbeat.

+1
I have been seeing this also and then when enough smaller BTC trades have gone through the buy or sells walls are removed, simply by watching these shenanigans I have so far been able to pick most bottoms and tops since the crash getting caught out just the once on a £45 sell £35 buy at the lowest bottom due to the damn gox-effect messing with my timing Sad , last night I had a small $85.08 buy (yes I trade both currencies) that was picked up going down and a $100.02 sell this morning going up.
I'm slowly seeing both the high & lows get lower though, maybe we might see a move south when enough daily bottoms have been found and the tree is well & truly fully shook? - Although yesterday we were fighting for $100, today seems to be $96 :/ , considering all of the fiat was meant to hit the market today it's not really having much impression, maybe the bulls are all really bears deep down Smiley

Digikeys
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April 15, 2013, 04:18:02 PM
 #23119

is anyone else watching bitstamp at the moment? (and the last half an hour?)

it's droping

Looks to me like it's being slowly bulldozed down by a 1200 coin wall...
GreekGeek
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April 15, 2013, 04:19:43 PM
 #23120

is anyone else watching bitstamp at the moment? (and the last half an hour?)

it's droping

Looks to me like it's being slowly bulldozed down by a 1200 coin wall...

you mean beardozed Grin

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