Wall Observer - MtGoxUSD wall movement tracker

[justusranvier]

So should I wait for Dwolla -> Gox or just go down and use Bit Instant? Which will cost me more in the next 5 days if I am going to put another $1000 in? The Bit Instant fees, or missing out on a $20 price jump tomorrow? lol

Bitfloor is a better deal in terms of how much you end up paying in fees compared to Bitinstant.

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[BitcoinTate]

So should I wait for Dwolla -> Gox or just go down and use Bit Instant? Which will cost me more in the next 5 days if I am going to put another $1000 in? The Bit Instant fees, or missing out on a $20 price jump tomorrow? lol

Bitfloor is a better deal in terms of how much you end up paying in fees compared to Bitinstant.

Is it as fast? I have never used them.

[humanitee]

Haha, it's beautiful.

[Spaceman_Spiff]

Slowpoke says: happy $100 guys!

[Beta-coiner1]

I go to lunch break and it's over 100 already.....man the chills.


Listen to the blockchain.

[rpietila]

I'm wondering what the average amount of money is those standing in line at MtGox are going to invest in Bitcoin. $1000 perhaps?

Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..

8,500 * $25,000 = $212 million and counting.

Yes, it will take us to $200.

[BitcoinTate]

I'm wondering what the average amount of money is those standing in line at MtGox are going to invest in Bitcoin. $1000 perhaps?

Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..

8,500 * $25,000 = $212 million and counting.

Yes, it will take us to $200.

That just gave me the chills... ooh!

[Spaceman_Spiff]

Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..

No, I am verified, and I invested significantly less than the sum you suggest.

[Missionary]

I'm wondering what the average amount of money is those standing in line at MtGox are going to invest in Bitcoin. $1000 perhaps?

Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..

8,500 * $25,000 = $212 million and counting.

Yes, it will take us to $200.

I don't think so. Simply because of one thing: Ignorance.

A huge chunk of the newcomers are most likely not very educated regarding what exchange to use and they just pick the biggest, if they know about the alternatives at all. At least that's the impression I have got from speaking to the ones I know.

[BitcoinTate]

I'm wondering what the average amount of money is those standing in line at MtGox are going to invest in Bitcoin. $1000 perhaps?

Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..

8,500 * $25,000 = $212 million and counting.

Yes, it will take us to $200.

I don't think so. Simply because of one thing: Ignorance.

A huge chunk of the newcomers are most likely not very educated regarding what exchange to use and they just pick the biggest, if they know about the alternatives at all. At least that's the impression I have got from speaking to the ones I know.

I still think all these newcomers will push us past the $150 mark.

[rpietila]

Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..

No, I am verified, and I invested significantly less than the sum you suggest.

Please tell me more about it! In Sep 2012 I spend a good 30 days trying to get verified w/ Gox (finally with success). Did you also do yours at that time?

Because now I don't think it is very prudent to wait this long as prices are increasing..

[Ploo]

USD on the orderbook barely touched. BTC on the orderbook down to 45k.

Maybe if all those with hopeful bids down low actually bought come coins they could make a profit.

[Missionary]

I still think all these newcomers will push us past the $150 mark.

That I don't disagree with.

[Zangelbert Bingledack]

4.4k wall at $102... very nice! We might just hit $150 in a couple weeks... but then my bubble radar will be going wild!

If it takes a couple weeks that would actually represent a cooldown. It would quiet any bubble alarms I might have had.

As for reaching $100? Meh. Wake me up when we reach $1,000. (Exponential trendline support has us there by early September.)

[thoughtfan]

...I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..

8,500 * $25,000 = $212 million and counting.

Yes, it will take us to $200.

I don't think so. Simply because of one thing: Ignorance.

A huge chunk of the newcomers are most likely not very educated regarding what exchange to use and they just pick the biggest, if they know about the alternatives at all. At least that's the impression I have got from speaking to the ones I know.

I agree with the idea most don't know enough and/or don't do the calculations.  There's also the matter of trust and the history of exchange hacking so if people have a smattering of an idea of the history they may just prefer to go with the biggest and most reputable despite the time.

One potential advantage of this is whilst they're waiting for their first opportunity to trade they're doing some reading up and getting to grips with the concepts and potential of Bitcoin.  With any luck those who were going to make a rash jump in to make a quick buck will have learned of the 2011 bubble and will at least know there is no guaranteed profit.  Others may have learned enough to realise it has potential that is not lost were the price to plummet for some months.  The combination of both should reduce the odds of that very plummet because they will in both instances be more prepared to just hold and not lose nerve.  That's my hope at least!  The enforced wait could be the equivalent of the legally required cooling off period of a fiat investment contract!

[Spaceman_Spiff]

Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days..

No, I am verified, and I invested significantly less than the sum you suggest.

Please tell me more about it! In Sep 2012 I spend a good 30 days trying to get verified w/ Gox (finally with success). Did you also do yours at that time?

Because now I don't think it is very prudent to wait this long as prices are increasing..

Looking back at my emails, it took a little less than 2 weeks between creating my account online, and my first funds arriving.  (end of september 2012, looks like I started earlier than I remembered, of course, those days were a lot calmer than now  )

[mp420]

DAMN. How come my emergency asks are always missed by so little. I had one at $106.31 this time.

OTOH, it would be better for my blood pressure if I just dropped out of this spike catching game and just tried to catch the eventual peak.

[thoughtfan]

DAMN. How come my emergency asks are always missed by so little. I had one at $106.31 this time.

OTOH, it would be better for my blood pressure if I just dropped out of this spike catching game and just tried to catch the eventual peak.

Unless something goes drastically wrong by the time we get to the 'eventual peak' what will be the point of buying fiat?

[mp420]

DAMN. How come my emergency asks are always missed by so little. I had one at $106.31 this time.

OTOH, it would be better for my blood pressure if I just dropped out of this spike catching game and just tried to catch the eventual peak.

Unless something goes drastically wrong by the time we get to the 'eventual peak' what will be the point of buying fiat?

The point will be that after the peak there's going to be a slide down. If I sell close to the peak I can buy more at the eventual bottom.

I thought this game was about hoarding as much of the BTC supply as possible.

[thoughtfan]

DAMN. How come my emergency asks are always missed by so little. I had one at $106.31 this time.

OTOH, it would be better for my blood pressure if I just dropped out of this spike catching game and just tried to catch the eventual peak.

Unless something goes drastically wrong by the time we get to the 'eventual peak' what will be the point of buying fiat?

The point will be that after the peak there's going to be a slide down. If I sell close to the peak I can buy more at the eventual bottom.

I thought this game was about hoarding as much of the BTC supply as possible.

Maybe we're talking cross purposes here.  If after the 'eventual peak' when the price is right you intend to buy more do you think the price will never again reach the 'eventual peak' or do you have another name for the peak after the 'eventual peak'.  Sorry I'm confused!