Wall Observer - MtGoxUSD wall movement tracker

[BitPirate]

So are the bulls all in or do you have ammo to dampen the weekly dump?

Look at the bid wall :-) There is your answer... $110 looks like an absolute minimum floor right now.

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[byronbb]

Sort of feeling bad for the bears. 

[eric345]

So are the bulls all in or do you have ammo to dampen the weekly dump?

I make sure to have thousands reserved for picking up cheap coins at any time.

+1

[oakpacific]

So are the bulls all in or do you have ammo to dampen the weekly dump?

I make sure to have thousands reserved for picking up cheap coins at any time.

I hope you aren't the only one. As a 2011 "survivor" being a perma bull can be nerve wracking. I trust Bitcoin, but I don't trust Bitcoin holders.

I am also a survivor of 2011.

What's amazing about this system is, sans any systematic failure or significant new competing monetary system, any large-volume dump just stabilize the system as large holders holding less and less and the bitcoins are distributed more and more evenly.

[BitPirate]

So are the bulls all in or do you have ammo to dampen the weekly dump?

Look at the bid wall :-) There is your answer... $110 looks like an absolute minimum floor right now.

The dumps keep getting bigger and bigger. We had a dump of 40k last week, that would put us in the high $80s today.

That would put us at... what... a 100% increase month-on-month.

Not much to get nervous about!

Then factor in the increased buying pressure at $80.

[Crazy]

I make sure to have thousands reserved for picking up cheap coins at any time.

Playing with falling knives is very dangerous.

[iCEBREAKER]

Same here, I think we are headed for $150 land... nothing really to stop it!

/JINX

*CRASH*

[oakpacific]

I make sure to have thousands reserved for picking up cheap coins at any time.

Playing with falling knives is very dangerous.

Depends on how you manage your risk.

[mccorvic]

Ladies and gents, we found tonight's cry baby!

[oakpacific]

So are the bulls all in or do you have ammo to dampen the weekly dump?

I make sure to have thousands reserved for picking up cheap coins at any time.

I hope you aren't the only one. As a 2011 "survivor" being a perma bull can be nerve wracking. I trust Bitcoin, but I don't trust Bitcoin holders.

I am also a survivor of 2011.

What's amazing about this system is, sans any systematic failure or significant new competing monetary system, any large-volume dump just stabilize the system as large holders holding less and less and the bitcoins are distributed more and more evenly.

Sure, but half a year of bad news and a constantly declining exchange rate was a bit tiresome. I know the growth needs to be fast to get where Bitcoin needs to be in order to achieve some of the things I hope it can achieve, but I wonder how many "Bitcoiners" are simply chasing fiat profits.

What I meant is: as time progresses the amount of bitcoins held by a few large holders decreases, a market crash will get harder and harder as you need to get more and more people conspire to generate the downward volume, at least ideally it's the case, getting hold of large amount of coins is much harder right now then in 2011.

But yes, it's going up too fast, I would prefer the price to settle at $100-$150 for months before we go up again.

[Fiery Winds]

Ladies and gents, we found tonight's cry baby!

I don't know. I'm hoping today's sellers become buyers if we have a sustained drop. Seems like everyone chasing the same thing leads to crazy volatile markets.

Are these price increase really attributed to new people who are here for the long run? I hope so. I really do.

I got in last Friday, and I'm hoping for widespread use of BTC, since I feel it's better for the economy than a centralized (and heavily manipulated) currency.  That said, I am also aware that this current incarnation of cryptocurrency may not be the one that gets us there, and am prepared to cash out if it turns that way.  

[mccorvic]

Ladies and gents, we found tonight's cry baby!

I don't know. I'm hoping today's sellers become buyers if we have a sustained drop. Seems like everyone chasing the same thing leads to crazy volatile markets.

Are these price increase really attributed to new people who are here for the long run? I hope so. I really do.

I'm sure the sellers are hoping to buy back later, but I think from an individual point of view it's very stupid to dump like that.  From a collective, it probably does do us some favors and keeps things from getting out of control.  I just doubt they do it "for the good of all of us".  

And yes, the price is reflective of new demand.

[byronbb]

Ladies and gents, we found tonight's cry baby!

I don't know. I'm hoping today's sellers become buyers if we have a sustained drop. Seems like everyone chasing the same thing leads to crazy volatile markets.

Are these price increase really attributed to new people who are here for the long run? I hope so. I really do.

This makes no sense. It does not matter at ALL if the new people are here for the long run or not. Chasing fiat dreams? Who cares. It doesn't affect the network, it doesn't change bitcoin for good OR bad. If only pie eyed idealists cared about bitcoin, it would be worth less than a dollar.

[BitPirate]

Wow, there are some nice BTC profits to be made in this swing.

[Arthur Randolph]

Let's say I'm only slightly annoyed that MtGox may be able to see 10 minutes into the future with this lag. Are we trading with pneumatic tubes?

[mccorvic]

Let's say I'm only slightly annoyed that MtGox may be able to see 10 minutes into the future with this lag. Are we trading with pneumatic tubes?

Worse....hamster wheels.

[oakpacific]

Let's say I'm only slightly annoyed that MtGox may be able to see 10 minutes into the future with this lag. Are we trading with pneumatic tubes?

Sec.. trying to place an order with Gox.



Hey, at least they haven't been hacked lately! (Which is what I suspect holds their customers. How much would you risk on another exchange?)

Not just that, why would I send my money to somewhere with a legal system I can't even deal with? Especially if I am big?

I think these days Gox is focusing more on the financial/legal side of things, rather than the technical side, and that's why big buyers  like them. Daytraders' needs is obviously not that big of a concern.

[Arthur Randolph]

Dump show is over, now is the 2400BTC scare sell wall show at 122.9$. This really needs more variety.

[Patrick||Rodgers]

Yay!!  Bears bring temporary stability! 

[bayamos]

Wow, near vertical line. Hit 130.0 for a moment.