Wall Observer - MtGoxUSD wall movement tracker

[arruah]

Game is over. People have figured you out.

Right now everyone knows that you are calling for the exact opposite of what you're preaching...  

You're gonna have to change your tactics (hint: get bullish and I will start selling)

 

After careful consideration, i have concluded that bitcoins potential is HUGE, and it has become clear with resent developments that we are in fact headed toward mainstream adoption, it is no longer a matter of if but when!
this is why i have recently bought back my bitcoins at a loss, and am now sending my life savings to the exchange.
at this point it is clear that their is no risk at all, bitcoins value is sure to rise to new highs very soon.

 
[/quote]
I would not recommend it to transfer _all_ savings to the exchange.

[S3052]

What the fuck is that wall guy trying to do?

there are 3 possible reasons for putting up this wall

1. to buy cheaper coins or cover shorts cheaper  behind the downward pressure from the wall
2. to sell the coins at the wall price
3. to play and have fun as a big bitcoin trader with all the little other traders and fool around

>2. is rather unlikely as he could sell his coind better in small portions at a higher price
<1. and 3. are both more probable

[byronbb]

I would NEVER leave 40k bitcoins on mtgox or anywhere other than a paper wallet that lived in my safe.

[rebuilder]

3. to play and have fun as a big bitcoin trader with all the little other traders and fool around
[/color]

This. There have to be several early adopters who still hold a large number of BTC. They have essentially lucked out spectacularly and don't necessarily feel as attached to their holdings as someone who paid significant (subjectively) sums for the bitcoins they have.

[adamstgBit]

Occam's razor
_{the simplest explanation tends to be the right one.}

a sell order is a  sell order, no need to Speculate,
one doesn't move 40K bitcoins lightly, its there sell period

[deeplink]

there are 3 possible reasons for putting up this wall

1. to buy cheaper coins or cover shorts cheaper  behind the downward pressure from the wall
2. to sell the coins at the wall price
3. to play and have fun as a big bitcoin trader with all the little other traders and fool around

>2. is rather unlikely as he could sell his coind better in small portions at a higher price
<1. and 3. are both more probable

Yes option 2. could look like this:

You are a small company and have received huge amounts of BTC in the past weeks from customers. You may want to keep some of it because you believe in Bitcoin but you must also sell a big part to decrease risks and pay for parts. So you sell some at market price directly to cover immediate expenses and for the rest you put an ask on MtGox at a slightly higher price. You don't need more USD to cover your expenses and you don't care if the sell order is going to be filled today or next week. Why? Because your product is so innovative that spending time on manufacturing and shipping is much more valuable than speculating with BTC. With high probability that's the situation the Avalon team is currently in.

[MacMiner]

21

[420]

I would NEVER leave 40k bitcoins on mtgox or anywhere other than a paper wallet that lived in my safe.

until someone steals your safe

[humanitee]

Easy fix, store them on a microSD card that you lodge in your scrotum.

[mb300sd]

Easy fix, store them on a microSD card that you lodge in your scrotum.

Until someone steals your scrotum...

[candoo]

I BECAME A MILLIONAIRE BY USING BITCOIN-24.COM DAYTRADING

00,00 % FEES

[molecular]

This could lead to stability instead of a panic. Manipulators should be proud.

It seems that the goal of these walls is indeed to stabilize price, rather than induce selling panic. Evidence: the walls initially appeared when the price started to push 21.00. Once the price fell and started to accelerate down below 20, the walls were pulled allowing the market to recover. The walls reappeared when the price approached 21.00 again with volume.

Conclusion: Big player(s) is(are) comfortable with a current price level and intend to stabilize the price in a 20.00-21.00 corridor for now. They want to avoid extreme volatility resulting from either a short-term bubble or a short-term dump forming from current price level.

I think your conlusion that the wall was put (and removed) in order to stabilize price doesn't hold. It could still have been done to just move the market below (up and down a bit) in order to buy/sell on the resulting swings (induce volatility).

Regarding wanting to stabilize a price at a level someone may be "comfortable" with, David Morgan has this to say:

you cannot manipulate the overall trend of a market.

I think the man is correct. If there really are market conditions to merit a price above $21 then that wall can only be temporary. It might scare the price down for a while and make some people sell lower then they would have. That wall will get eaten or pulled.

[deeplink]

I BECAME A MILLIONAIRE BY USING BITCOIN-24.COM DAYTRADING

00,00 % FEES

We're all millionaires here - but thanks anyway.

[Chalkbot]

I BECAME A MILLIONAIRE BY USING BITCOIN-24.COM DAYTRADING

00,00 % FEES

Add another zero on your fees and I might be interested.

[robocoin]

I BECAME A MILLIONAIRE BY USING BITCOIN-24.COM DAYTRADING

00,00 % FEES

Add another zero on your fees and I might be interested.

Is this site legit? Didn't try it yet.

[420]

Easy fix, store them on a microSD card that you lodge in your scrotum.

Until someone steals your scrotum...

I believe that's called castration

[giszmo]

Today is the official global scare wall my ass day.

[Chalkbot]

I BECAME A MILLIONAIRE BY USING BITCOIN-24.COM DAYTRADING

00,00 % FEES

Add another zero on your fees and I might be interested.

Is this site legit? Didn't try it yet.

Highly unlikely. Legit sites don't usually troll forums with adds in all caps claiming that you can be a millionaire. Don't let my misguided sense of humor be interpreted as an endorsement.

[Walter Rothbard]

Today is the official global scare wall my ass day.

It's a big sale of 30000 BTC at a bargain price!

[candoo]

Todays special! 00,0000 % fees on bitcoin-24 trading!!

/just kiddin.
yeah bitcoin-24.com  trading is for free. So it make sense to trade there even if you just profit with 0,03 cent per bitcoin.