Wall Observer - MtGoxUSD wall movement tracker

[ineededausername]

There does seem to be more selling pressure than usual (comparison below)... seems like someone/a lot of people just keep dumping.





edit: no embedding?

[David M]

The only thing thats stupid is trying to make sense of someone else's trade.

Well said.

A million opinions = price.

[solex]

Caller 2 was me who tried to keep talking to get as much in as I could first explaining physical bitcoins was what he was talking about was just one minor means of storing bitcoins, other options being wallets on pcs, on smartphones, on a printed piece of paper and as a brain wallet which could be carried anywhere in the world.  Also (although I don't recollect using any full stops!)  ...

I heard you! Listened to the LBC online feed and your points were well said. Lots of useful info for listeners except from the idiot going on about a roast-beef sandwich :-)

[mccorvic]

There does seem to be more selling pressure than usual (comparison below)... seems like someone/a lot of people just keep dumping.

I think it's more that the depth hasn't had a chance to build up a lot yet.  Someone sells 1 btc and the price drops a buck and it feel huge.  It may actually be a sign that people are taking their BTC ot other exchanges (finally).  It'll get there, don't worry.

[ManBearPig]

I think I'm done with Mt Gox. This isn't good enough. I'm all for Bitcoin and am long-term bullish but I can't handle that lag.

[foo]

There does seem to be more selling pressure than usual (comparison below)... seems like someone/a lot of people just keep dumping.





edit: no embedding?

Bitcoincharts seems to have disabled direct links to their images... Probably trying to get the site to not die under load.

[herzmeister]

I am just hoping Gox is scaling up their hardware & software to handle the incoming load. The worst possible thing to happen right now would be for their platform to crash. It happened to Myspace, Facebook and many other sites from early rapid adoption. Anyone know what their back end is written in? Hopefully it is C++ or Java and not PHP.

PHP can do ANYTHING!

[louisBSAS]

Someone is massively profiting from these swings. Whether it's MtGox's flaky servers or DDOS or whatever. This isn't the behaviour of a grown-up currency.

I have no doubts in the sentiments of buyers right now but this kind of volatility is getting me worried.

Pretty normal for Bitcoin.

As volume increases I get the feeling Mt Gox just cannot handle this. Could be make or break for Bitcoin in the short-term.

Mtgox is not the only exchange.  I left - voice your opinion of them and pull your money like I did.

[ManBearPig]

Someone is massively profiting from these swings. Whether it's MtGox's flaky servers or DDOS or whatever. This isn't the behaviour of a grown-up currency.

I have no doubts in the sentiments of buyers right now but this kind of volatility is getting me worried.

Pretty normal for Bitcoin.

As volume increases I get the feeling Mt Gox just cannot handle this. Could be make or break for Bitcoin in the short-term.

Mtgox is not the only exchange.  I left - voice your opinion of them and pull your money like I did.

Doing just that. Which exchange(s) do you use?

[BitcoinTate]

I am just hoping Gox is scaling up their hardware & software to handle the incoming load. The worst possible thing to happen right now would be for their platform to crash. It happened to Myspace, Facebook and many other sites from early rapid adoption. Anyone know what their back end is written in? Hopefully it is C++ or Java and not PHP.

PHP can do ANYTHING!

I love PHP, I use it every day. But I would never use it for a world class trading platform.

[kylelgk]

Someone is massively profiting from these swings. Whether it's MtGox's flaky servers or DDOS or whatever. This isn't the behaviour of a grown-up currency.

I have no doubts in the sentiments of buyers right now but this kind of volatility is getting me worried.

Pretty normal for Bitcoin.

As volume increases I get the feeling Mt Gox just cannot handle this. Could be make or break for Bitcoin in the short-term.

Mtgox is not the only exchange.  I left - voice your opinion of them and pull your money like I did.

Doing just that. Which exchange(s) do you use?

I use BTC-E

[josiahgarber]

Someone is massively profiting from these swings. Whether it's MtGox's flaky servers or DDOS or whatever. This isn't the behaviour of a grown-up currency.

I have no doubts in the sentiments of buyers right now but this kind of volatility is getting me worried.

This isn't a grown up currency.  It's just the beginning if Bitcoin is to be successful.  I think in the long run the chances are pretty good.

[DoomDumas]

anyone here use Cavirtex?

i have a question, not sure why my trigger limit order thingy didn't work

https://bitcointalk.org/index.php?topic=166343.0

it was suppose to sell a bit if price dropped below 125, price dropped, trigger didn't fire  

I use CaVirtex, but no limit order yet..  Look to the news, faqs, I think there is something about it !

[oakpacific]

Someone is massively profiting from these swings. Whether it's MtGox's flaky servers or DDOS or whatever. This isn't the behaviour of a grown-up currency.

I have no doubts in the sentiments of buyers right now but this kind of volatility is getting me worried.

1. Bitcoin exchanges have no daily limits, unlike that of many other financial instruments.
2. By percentage variation, this volatility is significantly smaller then when it was at the 2011-12 bottom.

[DoomDumas]

Mt.Gox is embarassing. It's not like they haven't had time to fix this issue. I can't understand that someone with 80% of BTC trade, with that responsibility, is so nonchalant about this. Are they stupid?

Not stupid, but millionnaire since few years and do not care about customer !  Gox could close tonight, the owner will still be multi millionnaire..

[DoomDumas]

Conspiracy sweets: "Prolexic's clients include more than 10 of the world's largest banks, global enterprises, and government agencies."

hmm, maybe something here !

/tinfoilhat

[DoomDumas]

Could we crowdfund an exchange?
A crowdfunded, nonprofit Bitcoin exchange. Ultra low fees. Or something.

this idea needs more love.

Indeed.. pretty sure it would be crowdfunded extremely fast !

[BitcoinTate]

Could we crowdfund an exchange?
A crowdfunded, nonprofit Bitcoin exchange. Ultra low fees. Or something.

this idea needs more love.

Indeed.. pretty sure it would be crowdfunded extremely fast !

Has anyone started at BTC crowd funding like site? Shit that's a good idea!

[oakpacific]

Could we crowdfund an exchange?
A crowdfunded, nonprofit Bitcoin exchange. Ultra low fees. Or something.

this idea needs more love.

Indeed.. pretty sure it would be crowdfunded extremely fast !

Has anyone started at BTC crowd funding like site? Shit that's a good idea!

It's by no means so simple, if you want to operate as a money transmitter in pretty much any country, you need to do some really serious legal heavy-lifting, in fact, that's partly the reason why Gox is in a leading position, they do very well on this front.  And almost anyone who wants to go through all this will want to make some serious money, not just enough money to feed his family.

[DoomDumas]

Well, this has to go down as one of the most exciting/frustrating/scary/intense/emotionally draining days ever.  

If you brush aside the goxxing, today was a typical bear trap and not very abnormal at all

Indeed, I felt peacefull today, as I've move out of Gox more than a year ago