Wall Observer - MtGoxUSD wall movement tracker

[Zomdifros]

FinCEN published their guidance, then Al Gore showed his endorsement, hmmm.......conspiracy theory anyone?

CIA needs a higher exchange rate and depth in the market so they can use Bitcoin for clandestine purposes, just like they and the State Department use Tor.

Okay, back into the rationality mode, I think Gore may wanted to show his support for a long time, but has thus far refrained from doing it because the legal status of bitcoin is unclear, he did not publicly support cannabis consumption despite being a regular user when he was young, now FinCEN somehow made things clear and he got a "go-ahead".

Nah, Bitcoin has never been illegal, unlike cannabis. I think he's just a new user, as there have been so many new users the last couple of months (myself included).

I mean, he may not want to be associated with drug trading, gambling, etc. Now the FinCEN published the guidance, he can say"Seems that the regulators don't consider it a problem, why should I?"

True, although Bitcoin's reputation as a whole has improved immensely the last few months. This endorsement only adds to it and may pave the road for many more to come. My prediction is we will really go to the moon when Bill Gates declares Bitcoin to be nothing more than just a fad.

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[qwk]

The bidsum on Gox dropped by what looks to be 750k.

Could be people buying BTC to transfer out before the Gox move.

You can see exactly where that money came from through btccharts, it was the large bid at $30.  That guy finally pulled the trigger.

And you do not interpret this as a signal for a downtrend?  

[mccorvic]

The bidsum on Gox dropped by what looks to be 750k.

Could be people buying BTC to transfer out before the Gox move.

You can see exactly where that money came from through btccharts, it was the large bid at $30.  That guy finally pulled the trigger.

Could be he pulled the trigger to move off Gox as I surmised.  But yes, your btcchart kung fu is stronger than mine.

[Spaceman_Spiff]

Haha, awesome gif

[Piper67]

FinCEN published their guidance, then Al Gore showed his endorsement, hmmm.......conspiracy theory anyone?

CIA needs a higher exchange rate and depth in the market so they can use Bitcoin for clandestine purposes, just like they and the State Department use Tor.

Okay, back into the rationality mode, I think Gore may wanted to show his support for a long time, but has thus far refrained from doing it because the legal status of bitcoin is unclear, he did not publicly support cannabis consumption despite being a regular user when he was young, now FinCEN somehow made things clear and he got a "go-ahead".

Nah, Bitcoin has never been illegal, unlike cannabis. I think he's just a new user, as there have been so many new users the last couple of months (myself included).

I mean, he may not want to be associated with drug trading, gambling, etc. Now the FinCEN published the guidance, he can say"Seems that the regulators don't consider it a problem, why should I?"

True, although Bitcoin's reputation as a whole has improved immensely the last few months. This endorsement only adds to it and may pave the road for many more to come. My prediction is we will really go to the moon when Bill Gates declares Bitcoin to be nothing more than just a fad.

Reputation? Does anyone else here remember when the internet had a bad reputation? The Internet: Not Just For Porn Anymore 

[robocoin]

I have Mt.Gox EUR, (still redeemable), I sell 1 MTG-EUR at €1.50 sepa or cash.  

 /sorrounded by dead bears

[TomRado]

There will be a correction.

Not much room for it right now, we would need about 10k BTC to get back down to 59 that we saw not much earlier today..

[humanitee]

Can we get a "correction" to $50 please?

Only correction is upward at this point.

this

There will be a correction. We have only have a few months where the prices have been above $15. A lot of people have made a lot of money past few weeks, and I would be very surprised if there wasn't some noticeable profit taking. Although I think the trend towards $100+ will continue shortly after

Roughly 4.5 million coins have traded hands in the past 11 weeks.
I think this phenomena you described has already happened, and will continue happening while we ride the wave up.

[Isokivi]

I think we need to get all or most of the bears on suicide watch now.

[evoorhees]

If so we may see many more endorsements (and massive buy-in) over the next few days, followed by a tidal wave once Coinlab opens.

Will there be enough BTC for sale ?

There is always enough BTC for sale. It's only a matter of price. There will never be a sustained shortage of anything that has a floating price.

[TomRado]

Roughly 4.5 million coins have traded hands in the past 11 weeks.

I put an amount X of BTC on MtGox for the first time 2 weeks ago. Until today, I paid fees for buying >25 times the bitcoins i went in with, never adding fiat on MtGox.
Now I wouldn't consider myself a very active trader, bots will probably shuffle even more. So there might be some factor you neglect when you say it that way. I expect there to be alot of people going in and out of fiat every day.
Anyway, I agree, a lot of profit taking will be done already. It seems to get harder from day to day to beat the market daytrading, holding is the strategy of choice. We see those large upward jumps but rarely any good chances to go short with a good profit.

[Piper67]

If so we may see many more endorsements (and massive buy-in) over the next few days, followed by a tidal wave once Coinlab opens.

Will there be enough BTC for sale ?

There is always enough BTC for sale. It's only a matter of price. There will never be a sustained shortage of anything that has a floating price.

This. In a roundabout way, this is also the reason there is no "deflationary spiral" catastrophe ahead. People will always be willing to sell, and to buy, if they think the price is right.

[josiahgarber]

Can we get a "correction" to $50 please?

Only correction is upward at this point.

this

There will be a correction. We have only have a few months where the prices have been above $15. A lot of people have made a lot of money past few weeks, and I would be very surprised if there wasn't some noticeable profit taking. Although I think the trend towards $100+ will continue shortly after

For every buyer there is a seller.  I think demand will continue to outstrip supply, resulting in long term price appreciation.  Yes there will likely be bumps along the way.

[humanitee]

Roughly 4.5 million coins have traded hands in the past 11 weeks.

I put an amount X of BTC on MtGox for the first time 2 weeks ago. Until today, I paid fees for buying >25 times the bitcoins i went in with, never adding fiat on MtGox.
Now I would'nt consider myself a very active trader, bots will probably shuffle even more. So there might be some factor you neglect when you say it that way. I expect there to be alot of people going in and out of fiat every day.
Anyway, I agree, a lot of profit taking will be done already. It seems to get harder from day to day to beat the market daytrading, holding is the strategy of choice. We see those large upward jumps but rarely any good chances to go short with a good profit.

The reason I believe this is so important is because of the findings from a paper back in October that stated this:

More than three-quarters of the digital coins in the Bitcoin digital currency scheme aren't circulating because they remain dormant in user accounts that have never participated in outgoing transactions, a recently published study has found.

[Puppet]

Too much text, not enough pics. Since Im looking for some feedback from you wallwatchers:



http://goxgame.sytes.net/

Aside from fixing some bugs, what else would you like to see?

[phatsphere]

Aside from fixing some bugs, what else would you like to see?

funny animated gif's if:
current value is below ("1h moving average")-5% => bear time
current value is above ("1h moving average")+5% => bull time
ATH => a lightning storm where bernanke, FED and ECB dance around a bonfire made of fiat

[thefiniteidea]

Aside from fixing some bugs, what else would you like to see?

funny animated gif's if:
current value is below ("1h moving average")-5% => bear time
current value is above ("1h moving average")+5% => bull time
ATH => a lightning storm where bernanke, FED and ECB dance around a bonfire made of fiat

I second this demand. With an addition of something pizza related.

I love pizza.

[adamstgBit]

http://www.youtube.com/watch?v=4zRqtrThkzU

"stay away from bitcoin, it is a digital FED"

lol

[Puppet]

Aside from fixing some bugs, what else would you like to see?

funny animated gif's if:
current value is below ("1h moving average")-5% => bear time
current value is above ("1h moving average")+5% => bull time
ATH => a lightning storm where bernanke, FED and ECB dance around a bonfire made of fiat

I second this demand. With an addition of something pizza related.

I love pizza.

Something like this?



http://goxgame.sytes.net/

[molecular]

the pizza slice is awesome