Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26125. (Read 26710006 times)

Explanation

That's not what your wife told me last night.

bitcoin is going to nowhere but down, why? because there are less buyers than sellers

so what if some sellers can't sell coins in time after a long time waiting? they make big walls or dump coins on the market directly causing a flash crash

Pushing the price lower into their own bids.

Whats the point of these fukkin walls? Like ok bitcoin you can't go over 515 it's forbidden or it's  just building pressure for the rocket?

walls are dumping now! $4xx soon!

the price is not looking good, I don't think it will hold for a long time.

Seems to be constantly adding and removing BTC b/c the volume of actual buys and sells has NOT been very high in the last 24-48 hours.  

I mean the volume overall seems to be up a bit as compared with 3 weeks ago, but generally, the volume has NOT gone up in recent days, even though the walls have been bigger in the last 24-48 hours.

In other words there seems to be a lot of posturing going on, and whether that posturing will translate into actual transactions will only be a matter of time.  This week?  next week?  next month?  I am becoming more inclined to believe (speculate) that the price will be successfully held down in this $480 to $530 range until early into September..

Pulled or buggy?

e: it's back.

I generally agree with your point that this is longer term and meaningful (rather than pump and dump) and that they are probably NOT liquidating their whole stash of BTC right away (less than 25% would probably be even too much to liquidate at the current prices), but I am NOT really clear about where you get your estimate of $100s of millions invested in this project. 

There is $1 million a month in anticipated electricity costs - but couldn't the building, equipment and labor be assembled, acquired and utilized for much less than $100 million.. even in the $50million range? 

By the way, I would imagine that built into their business plan would be upgrading their mining computers within a couple of years.. and maybe long term in bitcoin would be 5 years-ish and then a back up plan, in the event that the bet does NOT pay off?

So, about them walls... Is the Bitstamp one at 515 having chunks of 500 BTC added and removed all the time or is the datafeed buggy?

time to test the walls with some nibbles

Explanation

+1    I couldnt have said it any better, myself... 

Right. Congrats on taking the side of Fallling.

People invest 100s of millions in short term low profit businesses.

Makes a lot of sense.

My assumptions are that the cost is in the 100s of millions. That the profit margins on today's prices aren't huge. What else did I assume exactly?

I've personally seen cooresponsdence with large miners who say they only sell a % of coins while keeping a large %

How many people here have invested even 6 or 7 figures into a business? Did you do it for short term low % profits in a business niche you were just speculating in?

I'd love to hear someone say yes. Because I've invested this amount into multiple businesses and never for high risk, short term profits.

Explanation

Is that the real reason?  Seems strange to me.

It is one thing to make a comment and describe why you are making it, and it is another thing to justify how you arrived at the comment and then to discuss causation or correlation. 

I do NOT disagree with the likely substantive result that governments partake in exploitation and killing and injustices; however, I do NOT subscribe to the idea that we therefore need to eliminate or remove government as the solution to the problem. 

Governments are likely both the problem and the solution - even though how to get to the point that they are the solution is quite a task to get governments to act in the interests of the people on a large scale rather than frequently serving the narrow interests of the most influential.  I do NOT doubt that sometimes trickle down economics and trickle down benefits do work; however, frequently, government officials get bought out or scared out from engaging in rules and policy making and applications that will truly serve the people rather than serving a narrow set of interests. 

Yet, as I already said many times, I do NOT see the solution of throwing out the baby with the bath water, b/c if we were NOT to have government, we would likely be in even a worse state of affairs in which fewer people are rich and monopolizing and exploiting and the rest of us are serfs (more serfs than we already are treated).

meh 1.3k walls at 515 on both stamp and bitfinex.

In other words, you were NOT always a BTC penguin?