Wall Observer - MtGoxUSD wall movement tracker

[Yuhfhrh]

Its about time for one of your drawings adam!

[1713508421]

1713508421

[adamstgBit]

oh sweet a glimmer of hope for my 8$ buy back!

Its about time for one of your drawings adam!

lol! soon 

[Yuhfhrh]

oh sweet a glimmer of hope for my 8$ buy back!

Its about time for one of your drawings adam!

lol! soon  

I inverted it for you lol

What I don't understand is why someone wants to sell his btc at 9.415 instead of just tearing down the buy wall at 9.40... UNLESS he has more BTC to sell than the entire buy wall  

Edit:
Adam, your glimmer of hope is crazy: "9.40 is not nearly enough! I must have 9.40019!"

[adamstgBit]

LOL!

[Yuhfhrh]

LOL!

Think the person with the buy wall is the same person with the sell wall? If so, its working.

Edit: Your hope has been eaten alive, followed by more support.
Edit2: This is exciting! Only ~22.5k BTC on the orderbook until $10!

[Spekulatius]

LOL!

Think the person with the buy wall is the same person with the sell wall? If so, its working.

No, it doesnt. For it in order to work, the trader playing ping pong would at least have to make enough to cover the tx fee charged by MtGox (0.25% minimum per tx). If 9.40$ is the BID wall, then (9.40*1.0025=) 9.4235 would have to be the minimum for the ASK wall to be put to break even.

With the current setup (both walls put at 9.40XX$) this trader would operate at a loss of just under 0.25% with every tx.

[Yuhfhrh]

LOL!

Think the person with the buy wall is the same person with the sell wall? If so, its working.

No, it doesnt. For it in order to work, the trader playing ping pong would at least have to make enough to cover the tx fee charged by MtGox (0.25% minimum per tx). If 9.40$ is the BID wall, then (9.40*1.0025=) 9.4235 would have to be the minimum for the ASK wall to be put to break even.

With the current setup (both walls put at 9.40XX$) this trader would operate at a loss of just under 0.25% with every tx.

Since I have been watching at least, no bitcoins have been sold into the buy wall, but bitcoins have been bought through the sell wall. (A.K.A. someone bought 2000 btc at 9.30 or less, watches this fiasco, puts a buy wall up of 7k btc at 9.40 without buying any coins, puts a smaller sell wall of 2k at 9.40001, and people gobble up the sell wall looking at the larger buy wall)

[Cablez]

The whole incremental process seems very orchestrated to increase the price. Will there be a downside or will everyone just sheeple along?

[Yuhfhrh]

The whole incremental process seems very orchestrated to increase the price. Will there be a downside or will everyone just sheeple along?

People want to be sheeple, because everyone wants the price to go up. But then there will probably be a dump of "no return" where we will head back down to the 5-7s. Just my 2 satoshi.

[Yuhfhrh]

Not a single .001 went into the buy walls from these last 2 dumps, which is adding further to my belief the person with the wall is cashing out as much as he can at 9.40 and above.

[ElectricMucus]

Does 10,000 BTC for sale @9.5 on Bitcoinary.com count as a wall?

https://www.bitcoinary.com/en/trades/657

Maria is a troll.

She also makes claims of being a millionaire, having ties to The Underground™ and an algorithmic trading wizard.
Don't take anything for granted coming from this alias.

[Mushoz]

Ehhhh, look at the volume on those "down" movements. Hardly any coins are being dumped, especially compared to the size of that wall. This isn't the same person.

[Yuhfhrh]

Ehhhh, look at the volume on those "down" movements. Hardly any coins are being dumped, especially compared to the size of that wall. This isn't the same person.

~5k BTC at least has been sold over the past 9 hours, and I've witnessed at least 3 "mini-dumps" where the buy wall wasn't hit at all. I'm suspicious!

[zhalox]

The bears

The bulls

^^This^^ made my day hahaha 

So true...

[ElectricMucus]

everybody else 

[notme]

LOL!

Think the person with the buy wall is the same person with the sell wall? If so, its working.

No, it doesnt. For it in order to work, the trader playing ping pong would at least have to make enough to cover the tx fee charged by MtGox (0.25% minimum per tx). If 9.40$ is the BID wall, then (9.40*1.0025=) 9.4235 would have to be the minimum for the ASK wall to be put to break even.

With the current setup (both walls put at 9.40XX$) this trader would operate at a loss of just under 0.25% with every tx.

That's a small price to pay to sample supply and demand.  You can then use this information to inform your trading.

[Kupsi]

I'm not feeling $8.

A large part of me just doesn't accept that a Bitcoin is worth this much. Is there some important news I'm missing?

The use of bitcoin is increasing:


http://blockchain.info/charts/n-transactions-excluding-popular?showDataPoints=false&timespan=all&show_header=true&daysAverageString=7&scale=0&address=

Seems topped out to me.

Anyway this was never a good indicator for various reasons.

You still think it's topped out?

[ElectricMucus]

I'm not feeling $8.

A large part of me just doesn't accept that a Bitcoin is worth this much. Is there some important news I'm missing?

The use of bitcoin is increasing:


http://blockchain.info/charts/n-transactions-excluding-popular?showDataPoints=false&timespan=all&show_header=true&daysAverageString=7&scale=0&address=

Seems topped out to me.

Anyway this was never a good indicator for various reasons.

You still think it's topped out?

Nope

[cypherdoc]

bye bye Adam 

[Mike Jones]

How long did Bitcoin stick to a $1 price point?