Wall Observer - MtGoxUSD wall movement tracker

[TomRado]

Decent price for half a pizza anyway.. I hope we'll see 67ish before 70 or once again I fed MtGox without putting anything on my table 

There we go

[1713911665]

1713911665

[Zomdifros]

I smell a small crash... 

OMG, we are down to the level we were two hours ago!

[gimme_bottles]

some coins trading for €60 at bitcoin.de 

that's $77.3

[ehoffman]

I smell a small crash... 

OMG, we are down to the level we were two hours ago!

That's good, it means people still believe in price rising today, and that 67+ is fair price

[Zomdifros]

some coins trading for €60 at bitcoin.de  

that's $77.3

That makes sense, I believe the attention Bitcoin had in German newspapers a week ago is an important yet slightly overlooked factor in the recent price developments: https://bitcointalk.org/index.php?topic=152239.0

Remember that it takes some time to get familiar enough with Bitcoin before people decide to buy some. Also, Germany is a huge market with good internet penetration.

I smell a small crash...  

OMG, we are down to the level we were two hours ago!

That's good, it means people still believe in price rising today, and that 67+ is fair price

I agree, this is quite bullish.

[rpietila]

1470 - 67 |  11:00  |  69 - 9460
1470 - 67 |  12:00  |  69 - 9160

Not much motion right now, as expected.

Now I lough so hard if all the latest boost in price was people trying to get their money off MtGox fearing US legislation. Anything I overlook that renders this hypothesis wrong?

That can be right, at least it is a possibility. MtGox does allow BTC2,000 to be repatriated per day, but only $10,000. There is a huge gap there, so your only way of cashing out in time is to buy BTC and run..  

But it is misinformed anyway, since didn't they say that nobody's existing account information is given to the US Feds (anymore than what's already the case) without the account holder's approval..?

[TomRado]

But it is misinformed anyway, since didn't they say that nobody's existing account information is given to the US Feds (anymore than what's already the case) without the account holder's approval..?

How much this can be trusted is written on another page. Wouldn't be the first time the feds know about something they legally can't. So lets be a bear for the fun of it and say that's just the us silk roaders trying to cash out in BTC right now Paradoxically, this wouldn't hurt the course anyway, as fewer btc on mtgox can only be good.

[Puppet]

Added a shoutbox for all you wallwatching talking heads, if you want to have a live chat:

[oakpacific]

Next week or so will be exciting. Possibly have a new client.

I hope that new client takes out this wall right now

Last chance for the new client to buy below 70

Nope, the wall is going to give us a massive crash down to $67.

Fuck yeah. Big wall you rock!

[The-Real-Link]

Well even though we're beyond that price/difficulty slope now, a higher difficulty is soon incoming so that's some reason for the price to adjust (in theory). 

This is crazy... choo choo!


Blocks
227154

Total BTC
10.929M

Difficulty
4847647

Estimated
5829845 in 654 blks

Network total
56.080 Thash/s

Blocks/hour
9.70 / 371 s

[Puppet]

Well even though we're beyond that price/difficulty slope now, a higher difficulty is soon incoming so that's some reason for the price to adjust (in theory). 

facepalm

[Zomdifros]

Well even though we're beyond that price/difficulty slope now, a higher difficulty is soon incoming so that's some reason for the price to adjust (in theory).  

The correlation between the hashrate and price is due to mining being more profitable when the price increases, not the other way around. It would be possible that the hashrate, and thus the difficulty, is rising in anticipation of higher prices (which would be logical in a strong bull market), but mostly this is caused by the coincidental arrival of the asics during the current bull market.

[thefiniteidea]

Added a shoutbox for all you wallwatching talking heads, if you want to have a live chat:

lol I just love that pizza wall man hahaha...

 

[mccorvic]

Added a shoutbox for all you wallwatching talking heads, if you want to have a live chat:

Jesbus rice, don't you know that some of us were actually going to try to focus on working today?!

[zby]

Where are the chartists?  Looks like we are at a critical point, move either way and boooom.

[justusranvier]

Jesbus rice, don't you know that some of us were actually going to try to focus on working today?!

I've given up on work...

[deeplink]

Jesbus rice, don't you know that some of us were actually going to try to focus on working today?!

I've given up on work...

Working to pay taxes? No thanks.

[narousberg]

Two russian TV chanels speak today about Bitcoin succes!!!

[Zomdifros]

Well even though we're beyond that price/difficulty slope now, a higher difficulty is soon incoming so that's some reason for the price to adjust (in theory).  

The correlation between the hashrate and price is due to mining being more profitable when the price increases, not the other way around. It would be possible that the hashrate, and thus the difficulty, is rising in anticipation of higher prices (which would be logical in a strong bull market), but mostly this is caused by the coincidental arrival of the asics during the current bull market.

this is a fair theory but not a fact.

Well I certainly prefer it over the persistent, yet flawed theory that difficulty somehow can influence the Bitcoin price. Arguments in favor of this theory are scarce and unconvincing.

[narousberg]

Who understand russian: http://www.1tv.ru/news/other/228923 after minute 5