Wall Observer - MtGoxUSD wall movement tracker

[humanitee]

I admire the traders for trying to cope with Gox lag.
Never again, personally.

[DougTanner]

Still going down. This is fun!

[chrsjrcj]

http://www.youtube.com/watch?v=saalGKY7ifU

[pokerman]

The price has risen too fast, it has gone parabolic, this is due to overspeculation, some may attribute it to price realization however growth like this has *Never* been sustainable. I would have much prefered a steadier growth.
Bitcoins current price is not in line with its utility value at this point in time, people are getting greedy looking for a get rich quick scheme. Bitcoin was not designed so we could all be millionaires, but designed as a decentralized currency where fees are an order of magnitude smaller than traditional payment methods as well as the inability for governments to devalue your money through hyperinflation.
People have begun hoarding their bitcoins rather than spending them and without active commerce bitcoins intrinsic value is nothing.
I can't tell for sure when the crash will happen, but I feel that we are nearing critical mass. It may reach $250-$300/BTC before it happens, however I feel it is inevitable.
I for one have liquidated my holdings.

More people are interested in Bitcoin therefore crash.
QED

People are interested in bitcoins to make a quick buck and not for its inherent value therefore crash.

[Krabby]

It's only fun when i'm fiat D:

[humanitee]

http://www.youtube.com/watch?v=saalGKY7ifU

What? Bitcoin goes up $40 bucks in a day and you think it's sinking?

The price has risen too fast, it has gone parabolic, this is due to overspeculation, some may attribute it to price realization however growth like this has *Never* been sustainable. I would have much prefered a steadier growth.
Bitcoins current price is not in line with its utility value at this point in time, people are getting greedy looking for a get rich quick scheme. Bitcoin was not designed so we could all be millionaires, but designed as a decentralized currency where fees are an order of magnitude smaller than traditional payment methods as well as the inability for governments to devalue your money through hyperinflation.
People have begun hoarding their bitcoins rather than spending them and without active commerce bitcoins intrinsic value is nothing.
I can't tell for sure when the crash will happen, but I feel that we are nearing critical mass. It may reach $250-$300/BTC before it happens, however I feel it is inevitable.
I for one have liquidated my holdings.

More people are interested in Bitcoin therefore crash.
QED

People are interested in bitcoins to make a quick buck and not for its inherent value therefore crash.

You know this for sure because?

[Crazy]

He knows this for sure because he has common sense and can read what people are typing.

[humanitee]

He knows this for sure because he has common sense and can read what people are typing.

So he doesn't then.
Thanks.

[Krabby]

Lag is melting away.

[Gatekeeper]

i was 14,250 in gox queue on Saturday, now i'm 11,800

[ManBearPig]

This thread never fails to amuse

[lebing]

i was 14,250 in gox queue on Saturday, now i'm 11,800

wow. if thats true and they are still at 15,000 they are processing over 1k apps per day?? even on the weekend?

[y2kcamaross]

Some massive sells going on

[ManBearPig]

To the bears who haven't already shat their pants: put in buy orders at $172 and $163 - repent and come back to the fold.

Oh how this thing ain't done yet.

[pokerman]

You know this for sure because?

Don't get me wrong, I am all for the idea behind bitcoins, but this recent price run up is definitely not due to practical implementation of bitcoin for real world uses. The price is increasing because people have been reading news stories about how a bunch of people became millionaires from investing in bitcoins and they want to do the same. Bitcoins true value as a decentralized currency has been pushed to the side. If there weren't so many people going crazy over the price bitcoin it could achieve a more natural growth.

[DougTanner]

Down we go again. Am I posting too many wall pics? Tell me to slow down if it's annoying.

[Jaques]

It's only fun when i'm fiat D:

didn't you sell @194 & buy back @185?  

(see your post above)


edit: https://bitcointalk.org/index.php?topic=85687.msg1772252#msg1772252

[y2kcamaross]

I just don't understand how SO many people could be selling their coins all at the same time, it's mind boggling, unless its just a few big fish coordinating

[Krabby]

Not sure if primal instincts or manipulation

[Gatekeeper]

Max Keiser ‏@maxkeiser 5h
My meetings in City for a new BTC institutional fund going really well. I've never been circled $10 bn. for a new product this quickly.