Wall Observer - MtGoxUSD wall movement tracker

[mb300sd]

Goodbye wall...

[cypherdoc]

[molecular]

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

maybe if 40k constituted 5% of your holdings you would consider it?

[molecular]

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

what about 4. having some kind of bet that depends on exchange rate being <$21 to be won?

[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

what about 4. having some kind of bet that depends on exchange rate being <$21 to be won?

could also be it.. did you check on the betting sites?

[Cablez]

To big player(s) ->  Chicken, buck buck buck.

[giszmo]

To big player(s) ->  Chicken, buck buck buck.

Early adopters might take a loss of some k$ if only they win their $100 bet. "I told you I can!"

[byronbb]

It could be an attempt to prevent a price rise while engaging in a very large transaction off exchange. I recall this sort of shenanigans with the pirate.... It spooks buyers because it implies a huge iceberg is out their lurking waiting to be struck.

[adamstgBit]

It could be placed there so that everyone starts speculating that its probably a fake wall... cuz no way in hell would anyway want to make millions using bitcoin sell that much bitcoin.... and then they take it away so all the bulls can be like "See it was fake, guess now is a good time to buy!"

[giszmo]

It could be placed there so that everyone starts speculating that its probably a fake wall... cuz no way in hell would anyway want to make millions using bitcoin sell that much bitcoin.... and then they take it away so all the bulls can be like "See it was fake, guess now is a good time to buy!"

I would like to know how many BTC and USD, EUR, ... are at MtGox. Walls like that show that people really trust Gox enough to leave money there that they don't intend to trade (assuming he didn't send it there to show a wall and withdraw it immediately). The +-$2 range is not all there is lurking around in Gox market depth.

[Kupsi]

It could be placed there so that everyone starts speculating that its probably a fake wall... cuz no way in hell would anyway want to make millions using bitcoin sell that much bitcoin.... and then they take it away so all the bulls can be like "See it was fake, guess now is a good time to buy!"

I would like to know how many BTC and USD, EUR, ... are at MtGox. Walls like that show that people really trust Gox enough to leave money there that they don't intend to trade (assuming he didn't send it there to show a wall and withdraw it immediately). The +-$2 range is not all there is lurking around in Gox market depth.

2,804,465 USD vs 101,696 BTC

http://bitcoincharts.com/markets/mtgoxUSD_depth.html

[lucif]

What is that? https://coinbase.com/charts 

[ElectricMucus]

What is that? https://coinbase.com/charts  

It's called a "glitch", for the believers its a magical occurrence which happens by random chance.
For everybody else it's just somebody messing around with computer systems.  

[01BTC10]

It could be placed there so that everyone starts speculating that its probably a fake wall... cuz no way in hell would anyway want to make millions using bitcoin sell that much bitcoin.... and then they take it away so all the bulls can be like "See it was fake, guess now is a good time to buy!"

I would like to know how many BTC and USD, EUR, ... are at MtGox. Walls like that show that people really trust Gox enough to leave money there that they don't intend to trade (assuming he didn't send it there to show a wall and withdraw it immediately). The +-$2 range is not all there is lurking around in Gox market depth.

2,804,465 USD vs 101,696 BTC

http://bitcoincharts.com/markets/mtgoxUSD_depth.html

This is only money on the market. We can add much more if we include idle balances.

[xxjs]

I think the bids and asks around the equilibrium, or a few hundred coins at either side, is most relevant. Offers further away, small or large amounts, are not so relevant.

[cypherdoc]

[420]

low volume upswing...temporary? or new trend

Last price:$20.80999 High:$20.81000 Low:$20.20000 Volume:28434 BTC Weighted Avg:$20.57915

[adamstgBit]

20.85!

[oakpacific]

Why the manipulation theories?

Occam's razor says it is someone who has acquired a lot of BTC and wants to to sell, for whatever reason, at $21.00

No, if he wants to sell he will just sell, instead of putting up walls, otherwise when the market is intimidated down he will miss the boat, and make less by selling at lower prices.

[adamstgBit]

Why the manipulation theories?

Occam's razor says it is someone who has acquired a lot of BTC and wants to to sell, for whatever reason, at $21.00

No, if he wants to sell he will just sell, instead of putting up walls, otherwise when the market is intimidated down he will miss the boat, and make less by selling at lower prices.

why it is so hard for some of you to believe he wants to sell is beyond me....