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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1652193 times)
Yuhfhrh
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November 30, 2012, 05:36:49 AM
 #5301


You are seeing the euro to USD conversion. The high for the day is always U.S. only, where the last price is for everyone.

Edit: I'll also mention that every time I've seen this happen these past 6 months, USD has followed along. Bullish.
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November 30, 2012, 05:49:09 AM
 #5302

this time I don't think it's bullish or a premonition

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Yuhfhrh
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November 30, 2012, 05:49:43 AM
 #5303

I don't think it's necessarily bullish or a premonition

Not necessarily, but has been in the past.
Yuhfhrh
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November 30, 2012, 08:04:49 AM
 #5304

BAM!


Edit: Aaaand its gone?
molecular
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November 30, 2012, 08:23:45 AM
 #5305

if you accept that bitcoin is "pure money" then you have to accept that euro is also "pure money"

It might be pure, but it's debatable wether the Euro is money at all Wink

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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November 30, 2012, 08:52:58 AM
 #5306

if you accept that bitcoin is "pure money" then you have to accept that euro is also "pure money"

It might be pure, but it's debatable wether the Euro is money at all Wink

Bitcoin is the only money

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robocoin
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November 30, 2012, 09:54:30 AM
 #5307

Guys, you finally found me on MTG/EUR. EUR/USD has it's own rally for quote some time now: )
Anyways, there was some nice argumentation going on on the last 6 pages. Great threat, no need to post a lol cat now. The smaler numbers when trading EUR or GBP also mean smaler fees / bigger spread/ less risk. Now we only need to break this wall at 9.73€ to make it rain. But in general MTG/EUR is less volatile.
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November 30, 2012, 12:26:28 PM
 #5308

if you accept that bitcoin is "pure money" then you have to accept that euro is also "pure money"

It might be pure, but it's debatable wether the Euro is money at all Wink
well it is, the euro have done something that only gold standard can do force politicians to take unpopular measures, without euro Spanish, Italian and Greece politicians would devalue their currency allot, the euro and Germans dont allow them to do that and the result is quite "funny" and similar to what a gold standard can do

Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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November 30, 2012, 06:24:35 PM
 #5309

We are entering a stable period, despite the increased demand, due to profit taking.
I believe the profit taking is minimal, and will not deplete the increased demand. So I predict the stable period will be short lived (no more then 2 weeks) and we will head higher once its done.
 Grin
Just in case anyone missed my lasted prediction  

I call it:
Buying out the Bears
at a fair price


Cheesy

Spekulatius
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November 30, 2012, 11:26:21 PM
 #5310

Guys, you finally found me on MTG/EUR. EUR/USD has it's own rally for quote some time now: )
Anyways, there was some nice argumentation going on on the last 6 pages. Great threat, no need to post a lol cat now. The smaler numbers when trading EUR or GBP also mean smaler fees / bigger spread/ less risk. Now we only need to break this wall at 9.73€ to make it rain. But in general MTG/EUR is less volatile.

Hang on, isnt there the same spread, fees and liquidity with all currencies on MtGox, because they are all pooled together?
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November 30, 2012, 11:31:02 PM
 #5311

Guys, you finally found me on MTG/EUR. EUR/USD has it's own rally for quote some time now: )
Anyways, there was some nice argumentation going on on the last 6 pages. Great threat, no need to post a lol cat now. The smaler numbers when trading EUR or GBP also mean smaler fees / bigger spread/ less risk. Now we only need to break this wall at 9.73€ to make it rain. But in general MTG/EUR is less volatile.

Hang on, isnt there the same spread, fees and liquidity with all currencies on MtGox, because they are all pooled together?

then the jumps are people accidentally paying too much for bitcoin, miscalculated their conversion ratio?

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adamstgBit
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November 30, 2012, 11:40:10 PM
 #5312

Guys, you finally found me on MTG/EUR. EUR/USD has it's own rally for quote some time now: )
Anyways, there was some nice argumentation going on on the last 6 pages. Great threat, no need to post a lol cat now. The smaler numbers when trading EUR or GBP also mean smaler fees / bigger spread/ less risk. Now we only need to break this wall at 9.73€ to make it rain. But in general MTG/EUR is less volatile.

Hang on, isnt there the same spread, fees and liquidity with all currencies on MtGox, because they are all pooled together?

then the jumps are people accidentally paying too much for bitcoin, miscalculated their conversion ratio?

Where do these walls come from on the EUR market?

Wild guess:
Its MtGox placing the walls themselves to add lucidity to their EUR market
When a wall is taken down on the EUR market, MtGox buys the coins off the USD market
They place the walls on EUR market high enough for them to be able to do this without losing money
This is all done automatically.

could it be?

Yuhfhrh
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November 30, 2012, 11:46:08 PM
 #5313

Guys, you finally found me on MTG/EUR. EUR/USD has it's own rally for quote some time now: )
Anyways, there was some nice argumentation going on on the last 6 pages. Great threat, no need to post a lol cat now. The smaler numbers when trading EUR or GBP also mean smaler fees / bigger spread/ less risk. Now we only need to break this wall at 9.73€ to make it rain. But in general MTG/EUR is less volatile.

Hang on, isnt there the same spread, fees and liquidity with all currencies on MtGox, because they are all pooled together?

then the jumps are people accidentally paying too much for bitcoin, miscalculated their conversion ratio?

Where do these walls come from on the EUR market?

Wild guess:
Its MtGox placing the walls themselves to add lucidity to their EUR market
When a wall is taken down on the EUR market, MtGox buys the coins off the USD market
They place the walls on EUR market high enough for them to be able to do this without losing money
This is all done automatically.

could it be?

This is what happens, its been confirmed before. Its all automatic.
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November 30, 2012, 11:53:38 PM
 #5314

so walls are unreliable

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Rotsor
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December 01, 2012, 12:00:28 AM
 #5315

so walls are unreliable
No, walls are not unreliable. Walls in less popular currencies are just much further apart, as can be seen on mtgoxlive because Mt.Gox charges a hefty percentage for currency conversion.
420
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December 01, 2012, 12:02:56 AM
 #5316

so walls are unreliable
No, walls are not unreliable. Euro walls are just much further apart, as can be seen on mtgoxlive because Mt.Gox charges a hefty percentage for currency conversion.

okay they deal mainly USD everything else has to convert to USD before trade?

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Yuhfhrh
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December 01, 2012, 12:09:41 AM
 #5317

so walls are unreliable
No, walls are not unreliable. Euro walls are just much further apart, as can be seen on mtgoxlive because Mt.Gox charges a hefty percentage for currency conversion.

okay they deal mainly USD everything else has to convert to USD before trade?

Not everything, you can have a sell order of 1BTC for 10EUR, and someone could buy that 1BTC for 10EUR without ever converting to USD. Its just when there isn't enough market depth in the other currency, they start buying/selling into USD orders.
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December 01, 2012, 12:13:04 AM
 #5318

Who does, the buyers?

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adamstgBit
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December 01, 2012, 12:14:10 AM
 #5319

so walls are unreliable
No, walls are not unreliable. Euro walls are just much further apart, as can be seen on mtgoxlive because Mt.Gox charges a hefty percentage for currency conversion.

okay they deal mainly USD everything else has to convert to USD before trade?

Not everything, you can have a sell order of 1BTC for 10EUR, and someone could buy that 1BTC for 10EUR without ever converting to USD. Its just when there isn't enough market depth in the other currency, they start buying/selling into USD orders.

you bet me to it, was going to say:

they allow you to trade your EURs for Bitcoin directly, its just that the big walls on EUR MtGox are owned by MtGox, when you buy or sell into their walls, they turns around and buys or sells on the USD market.

adamstgBit
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December 01, 2012, 12:17:48 AM
 #5320

Who does, the buyers?
mtgox

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