Wall Observer - MtGoxUSD wall movement tracker

[y2kcamaross]

Verification queue is at 28,300 as of right now, if anyone is interested.

Lots of people want their fiat out of gox. Most will wait with selling till they can withdraw so their funds aren't locked.

Why do you even bother coming in and talking negatively nonstop?  Why waste your time, it makes no sense.

[byronbb]

Over 1 million BTC sold over the past week. Price is holding in the $90-$100 range.

Bullllllllish.

I can't wait till the 80-90 range is considered bullish by you guys.  

I seem to recall $15-$20 was bearish.

[y2kcamaross]

Verification queue is at 28,300 as of right now, if anyone is interested.

source?

Lots of people want their fiat out of gox.

And I am one of them. Waiting for my first (this month's first) SEPA withdrawal for one week now. This used to go a lot faster. Anybody experiencing the same?

me. having two transactions, one confirmed on the 8th one on the 10th, neither hit my account so far

My source is my buddy who was just denied verification due to his id scan not being in color, so he resubmitted

[ElectricMucus]

Mind you I am merly offering you an explanation for the waiting line other then: "Those people are here to buy"
It's probably a mixture of both. This is speculation, that's what I am doing, what you are doing.

Don't attack me because I offer a different opinion.

Think about it: You are sitting on 10x-50x profits from the rally, missed the top and want some cash. Mtgox is having issues.

Your options are:
Sell now and withdraw asap. Some are doing just that (price is creeping down slowly) But that means you can't get anything as long as you aren't verified.
Wait till you are verified and sell then.
You can if all fails withdraw you coins and sell them somewhere else. But still gox offers the highest prices so people think it is worth waiting. Added to this other exchanges lack liquidity.

A rational trader would maybe do it like you described in the second option, but I think you give the panic sellers too much credit here. imo most have sold first, then started thinking about how to get the money out.

Lets wait and find out.

[bixcoin]

Why do you even bother coming in and talking negatively nonstop?  Why waste your time, it makes no sense.

Is it less time wasting talking positively? Reminds me a year ago, when anybody calling Pirate a Ponzi-scheme was told to shut up.

[y2kcamaross]

Why do you even bother coming in and talking negatively nonstop?  Why waste your time, it makes no sense.

Is it less time wasting talking positively? Reminds me a year ago, when anybody calling Pirate a Ponzi-scheme was told to shut up.

Nope, if they are repeatedly saying the same thing, negatively or postively, still time wasting.  I just don't understand the point in repeating the same things over and over and over and over

[sukiho]

Verification queue is at 28,300 as of right now, if anyone is interested.

source?

Lots of people want their fiat out of gox.

And I am one of them. Waiting for my first (this month's first) SEPA withdrawal for one week now. This used to go a lot faster. Anybody experiencing the same?

me. having two transactions, one confirmed on the 8th one on the 10th, neither hit my account so far

My source is my buddy who was just denied verification due to his id scan not being in color, so he resubmitted

I hope they accept my b&w telephone bill, I want to get my btc onto another exchange, don't even know why they want verification, its only a few hundred dollars worth

[GreekGeek]

I am bored 
this thread is very quiet when the price stabilizes

[RMT2J]

dirty market, profit gainers, yuck!

[Digikeys]

is anyone else watching bitstamp at the moment? (and the last half an hour?)

[GreekGeek]

is anyone else watching bitstamp at the moment? (and the last half an hour?)

it's droping

edit:

and it's down probably

[UKMark]

I feel walls are typically used to push the price in the opposite direction. Say the price is 100 and I want to buy some coins below that. I can put a nice big wall at ask 100.5 and then people coming in see the wall and thing that they won't be able to sell their coins if they put them behind the wall so they put them just in front, maybe 99.5 or whatever. Then I can snap up those coins at 99.5 and wait for the next punter to come along. If I am patient, I can get a lot more coins for my money than if I just bought since otherwise my buys would push the price up. As soon as my wall starts being eaten, I close it down or move it back, I absolutely am not intending to sell those coins at that price. This works in both directions.

I actually played with this a little back when bitcoin-24 was working. Managed to push the coins I wanted to sell up a whole $5 because every time I would raise the price on the ones I put up on the buy side, someone would jump in just a little bit higher. It's not without risk though.

Bottom line, do not trust the walls to mean much. They will evaporate in a heartbeat.

+1
I have been seeing this also and then when enough smaller BTC trades have gone through the buy or sells walls are removed, simply by watching these shenanigans I have so far been able to pick most bottoms and tops since the crash getting caught out just the once on a £45 sell £35 buy at the lowest bottom due to the damn gox-effect messing with my timing , last night I had a small $85.08 buy (yes I trade both currencies) that was picked up going down and a $100.02 sell this morning going up.
I'm slowly seeing both the high & lows get lower though, maybe we might see a move south when enough daily bottoms have been found and the tree is well & truly fully shook? - Although yesterday we were fighting for $100, today seems to be $96 :/ , considering all of the fiat was meant to hit the market today it's not really having much impression, maybe the bulls are all really bears deep down

[Digikeys]

is anyone else watching bitstamp at the moment? (and the last half an hour?)

it's droping

Looks to me like it's being slowly bulldozed down by a 1200 coin wall...

[GreekGeek]

is anyone else watching bitstamp at the moment? (and the last half an hour?)

it's droping

Looks to me like it's being slowly bulldozed down by a 1200 coin wall...

you mean beardozed

[wonkytonky]

is anyone else watching bitstamp at the moment? (and the last half an hour?)

it's droping

it's manipulation.. on my screen there's a big wall on the ask side..  trying to push prices down..

which mean. someone is  trying to get cheap coins..   then removes the wall and up it goes again..

i wish i had some fiat there.. to eat the wall  

so anyone there.. stop putting asks below the wall and let it be eaten.

[el_rlee]

Although yesterday we were fighting for $100, today seems to be $96 :/ , considering all of the fiat was meant to hit the market today it's not really having much impression, maybe the bulls are all really bears deep down

We are above the 24h avg...

[Geddi]

Looks to me like it's being slowly bulldozed down by a 1200 coin wall...

you mean beardozed

  

[thezerg]

Although yesterday we were fighting for $100, today seems to be $96 :/ , considering all of the fiat was meant to hit the market today it's not really having much impression, maybe the bulls are all really bears deep down

We are above the 24h avg...

It seems obvious that the new accounts won't be in a big hurry to buy; after the drop they'll be hoping to get coins cheaper.  So price will be determined significantly by current coin owners.  Will they sell it down or enforce this price as the minimum?  The next few days will illuminate whether whether this was a correction or a bubble.  If current owners do not value their coins at all medium to long term we'll see attempts to sell into reluctant new accounts -- the bubble drop into "capitulation".  But if owners value the fundamental advantages of bitcoin then we'll see stable or gradually increasing prices.

[GreekGeek]

Looks to me like it's being slowly bulldozed down by a 1200 coin wall...

you mean beardozed

  

going down
http://www.youtube.com/watch?v=_2s7WMVMDjU

[ElectricMucus]

Bidwall pull in 3...2...1..