Wall Observer - MtGoxUSD wall movement tracker

[DoomDumas]

place your bets smart asses:

http://betsofbitco.in/item?id=1262

Done !

I'm surprised that is so little bids on that bet !

A nice and actual bet, If you're a speculator, just bet on it to hedge things

[DoomDumas]

wtf? all my sell orders which were filled b4 the wall taken down.

Now, they're all gone as if i never sold any BTC

Goxxed ?

[DoomDumas]

Seriously though, grats to everyone who was strong enough to hold.

i think soon the line will be

"congrats to everyone that was smart enough to sell"

Last price:$32.49900 High:$33.20000 Low:$30.79010 Volume:79911 BTC Weighted Avg:$31.92990

So you sold?

nope. overall I bought. hindsight says i should have sold some over $33

anyway:

From:   bets@betsofbitco.in
Sent:   Wed 2/27/13 6:28 PM
To:   420
Congratulations! You have won a bet at Bets of Bitcoin. Details are below:

Statement: The Mt. Gox price of bitcoin will break the all time high of 31.91 USD in Febuary.
Link: http://betsofbitco.in/item?id=1233
Your side: Agree

Statement: The Mt. Gox price of bitcoin will break the all time high of 31.91 USD in Febuary.
Link: http://betsofbitco.in/item?id=1233
Your side: Agree
Your profit: 92.31%

[thoughtfan]

Greed is a persistent illusion. I will admit I refuse to sell but all things must come to balance. A big sell is likely.

I think there's something to be gleaned from looking at this one; maybe more so if I jiggle the words around a bit which whilst it may take us away from what The Fool was saying, I think represents the position of some fools at least:

Greed is refusing to sell even when you believe an imminent big sell is likely.

Sayings such as 'All things must come to balance' and 'If it seems too good to be true it probably is too good to be true' etc. form part of the belief structure of many and so even if there are no rational reasons arising out of the fundamentals to believe the price will go down, if enough of the Bitcoin being held now is in the hands of people who believe this is unsustainable simply because the percentage profit 'feels too high', 'isn't right', 'can't be sustainable' etc. and yet they still hold onto their Bitcoin hoping against their 'better judgement' that it will keep going up then we really do have the makings of a 'crash' because these are the weak hands who are likely to panic sell even as the price plummets.

Whether this happens and how quickly and deeply it goes depends on the proportion of Bitcoins in the hands of those who think that way relative to the amount of fiat available to stronger hands to say 'thank you very much' and pick up the cheap coins   The ratio between the two may be one way of expressing what I see as the primary difference between today and 08 Jun 2011.

[Cubic Earth]

CoinLab will ask customers for their info.. hey if US gov't get a hold of that info, they'd want to take half of your profits!

CoinLab having the info would make it that much easier for the US gov't to get the info, but its best to assume they already have it if you use Mt. Gox.  If you use a paper wallet that was generated offline, once you send your funds out of the exchange to that paper address, well there is NO WAY FOR ANYBODY to know who is the owner of that paper address.

in 99.9% of the cases that would be the owner of the gox account the coins were sent from. to leave no trail you would have to use a mixing service.

Agreed - to use a mixing service, tor, etc. to leave no trail.  But a trail and plausible deniable are two completely different things.  So yes, 99.9% of it would be the same owner, but how can anyone prove you hadn't sold or gifted those coins.  Or lost the key.  The trail would point to you though, so if the coins became worth millions in the future, you can bet that address would have a government microscope on it.  It would be public knowledge what date the coins arrived on the address, and the capital appreciation would also be public knowledge.  You would have to take some serious precautions at that point if you wanted to redeem any of those coins and not reveal yourself as the owner.

Keeping less than $5,000 worth of coins per address should might help to avoid unwanted scrutiny.  If BTC keep going up, you would have to keep dividing your coins, and though that might be a pain in the ass, it would also be a great problem to have.

[byronbb]

[thoughtfan]

Surely the announcement of 500,000 goods at zero markup for a month must be having an influence on price too ( http://bitcoinmagazine.com/bitcoinstore-officially-launching-today-0-markup/ and http://codinginmysleep.com/bitcoin-store-announces-official-launch/ )?  The chance of getting stuff cheap might be the trigger for many who have been reading about Bitcoin in the recent articles and blogs to actually dive in to buy something with it.  And once they've actually experienced buying and spending Bitcoin...

[Liquid]

BTC = $33

[oakpacific]

For the record, here is the trade that broke it:

{"date":1362012123,"price":"31.9099","amount":"1","price_int":"3190990","amount_int":"100000000","tid":"1362012123917624","price_currency":"USD","item":"BTC","trade_type":"bid","primary":"Y","properties":"limit"},{"date":1362012124,"price":"31.9099","amount":"0.00019974","price_int":"3190990","amount_int":"19974","tid":"1362012124220533","price_currency":"USD","item":"BTC","trade_type":"bid","primary":"Y","properties":"limit"},{"date":1362012133,"price":"31.90998","amount":"1.0646","price_int":"3190998","amount_int":"106460000","tid":"1362012133549205","price_currency":"USD","item":"BTC","trade_type":"ask","primary":"Y","properties":"limit"},{"date":1362012147,"price":"31.91","amount":"20","price_int":"3191000","amount_int":"2000000000","tid":"1362012147416084","price_currency":"USD","item":"BTC","trade_type":"bid","primary":"Y","properties":"limit"},{"date":1362012147,"price":"31.91","amount":"9.28879034","price_int":"3191000","amount_int":"928879034","tid":"1362012147530876","price_currency":"USD","item":"BTC","trade_type":"bid","primary":"Y","properties":"limit"},


see here: https://mtgox.com/api/1/BTCUSD/trades

[phatsphere]

bears for breakfest. nom nom nom …

[byronbb]

http://coinlab.com/chart

[Bowjob]

Someone put resistance please.. we'll hit $37 soon.

[deeplink]

Someone put resistance please.. we'll hit $37 soon.

To do that someone will have to sell. Who wants to sell BTC? You might never get the chance to buy them again!

There are still a few bears left.

The problem is they don't have any BTC left to sell  


p.s.

Adam, welcome back

Mr. Loaded, I love you

[Bowjob]

Is Adam a bull again? Yeah, we need bears to slaughter. How about proudhon? lucif?

[proudhon]

Is Adam a bull again? Yeah, we need bears to slaughter. How about proudhon? lucif?

You rang?  This is surely the top, and a bubble pop is probably just around the corner.

[myself]

Is Adam a bull again? Yeah, we need bears to slaughter. How about proudhon? lucif?

You rang?  This is surely the top, and a bubble pop is probably just around the corner.

well ppl dont want to acknowledge that this push was made by a single trader and its wall at 31 then he pushed the wall at 32 and the price at 33 got bitch slapped with 10K btc and the wall was dead, stuff like this you dont see even on stocks where big banks like jp morgan or golman rule the market, is hard to make a fucking sense of stuff like this but anyone that claims the market as a whole group did took this decision to push is on a different reality.

i go by the say

when everybody is making money, nobody is making money

now is time to wait for the bait and switch

[StarenseN]

Is Adam a bull again? Yeah, we need bears to slaughter. How about proudhon? lucif?

You rang?  This is surely the top, and a bubble pop is probably just around the corner.

haha you said that already a couple of times earlier.

[Zomdifros]

well ppl dont want to acknowledge that this push was made by a single trader and its wall at 31 then he pushed the wall at 32 and the price at 33 got bitch slapped with 10K btc and the wall was dead, stuff like this you dont see even on stocks where big banks like jp morgan or golman rule the market, is hard to make a fucking sense of stuff like this but anyone that claims the market as a whole group did took this decision to push is on a different reality.

i go by the say

when everybody is making money, nobody is making money

now is time to wait for the bait and switch

I agree, I think the market was manipulated. It began with the unusually large ask wall around 31.89 and 32.00, which remained in place for a few days. During the attack somewhere around $1M was pumped in the market with one guy putting up seven 2K BTC blocks on the bid side.
 
I'm normally not of the tin foil hat conspiracy crowd, but in this instance I can imagine a large buyer intentionally timed the all-time high. It is very well possible that Mt.Gox & Coinlab did this on purpose in order to gain maximum PR value. As a libertarian, I find this absolutely acceptable and good for Bitcoin as a whole.

http://coinlab.com/chart

Speaking of Coinlab, this is one nice toy to play with!

[myself]

I agree but wonder if it is one or two hedge funds who are expecting 100 hedge funds to move in soon and are buying all the cheap coins now. Honestly if no one wants to sell BTC and millions get poured in daily the price will get crazy stupid quickly.

can you post here the definition for a hedge fund and a short description of how a hedge funds work just to know we are talking about the same thing

[mccorvic]

Is Adam a bull again? Yeah, we need bears to slaughter. How about proudhon? lucif?

You rang?  This is surely the top, and a bubble pop is probably just around the corner.

Ok, I think I see where you're coming from.  You believe in the "doughnut" shaped market and that we'll eventually go up from $30 and wrap all the way around back to zero.

But as everyone else knows, a Proudhun posting is the clearest sign that we're still in rally mode.