Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29538. (Read 26609436 times)
February 18, 2014, 10:54:59 AM
About to go under $600 on Stamp (currently @ $610).
February 18, 2014, 10:49:12 AM
Now we're seeing some action!
Care to elaborate? 
>1k dump on Stamp.
February 18, 2014, 10:45:10 AM
http://www.coindesk.com/localbitcoins-manufacturing-low-cost-bitcoin-atm/
http://www.coindesk.com/first-us-bitcoin-atm-seattle-austin/
These machines will be more profitable than video poker during the next major rally.
http://www.coindesk.com/first-us-bitcoin-atm-seattle-austin/
These machines will be more profitable than video poker during the next major rally.
Do you know what fees they will charge?
Localbitcoins charges a 1% fee on their site. I don't know if there will be an additional fee for ATMs except for what the owner/operator adds, which could be anything. Traders typically charge ~10% so ATM operators may do likewise unless they face local competition.
During rallies when prices are rocketing, this is a reasonable markup. Waiting a week to buy when prices are going up can be an eternity.
February 18, 2014, 10:43:36 AM
Dumping time 
Did I miss something ?!
Did I miss something ?!
February 18, 2014, 10:42:14 AM
Now we're seeing some action!
Care to elaborate? February 18, 2014, 10:35:29 AM
Now we're seeing some action!
February 18, 2014, 10:33:41 AM
http://www.coindesk.com/localbitcoins-manufacturing-low-cost-bitcoin-atm/
http://www.coindesk.com/first-us-bitcoin-atm-seattle-austin/
These machines will be more profitable than video poker during the next major rally.
http://www.coindesk.com/first-us-bitcoin-atm-seattle-austin/
These machines will be more profitable than video poker during the next major rally.
Do you know what fees they will charge?
February 18, 2014, 10:26:02 AM
The current range:
I publicly called the Feb 9 $530 as the bottom. I sold a tiny bit on the bounce, bought it back at $550.
I sold at $678, so I missed a little bit of the bounce and now I'm waiting for lows again under $600. I don't really care if it goes higher, though. I have BTC set aside for trading higher ranges. Only going lower than $550 will necessitate me depositing fresh fiat.
Congrats then, I just find myself too jittery to trade like that, closing way too early either end even though when Im not in a trade I seem to be pretty good at calling ~tops/bottoms.
Well happy trading and hopefully everyones happy come thursday
February 18, 2014, 10:16:16 AM
http://www.coindesk.com/localbitcoins-manufacturing-low-cost-bitcoin-atm/
http://www.coindesk.com/first-us-bitcoin-atm-seattle-austin/
These machines will be more profitable than video poker during the next major rally.
http://www.coindesk.com/first-us-bitcoin-atm-seattle-austin/
These machines will be more profitable than video poker during the next major rally.
February 18, 2014, 09:42:42 AM
Call me a fool but I couldn't resist buying some goxBTC at .5. Be greedy when others are fearful and all that...
It's not foolish at all, provided you can live with the probable loss. It's like betting a number on the roulette wheel that pays off 50 to 1.
Yeah I can definately take the loss. I only spent 10btc which is a smallish percentage of my 'play stash'.
The way I see it I would have to make a long series of really good trades to double up in the same way and there would be much much more risk involved. While Gox running off with the money is a distinct possibility I think the risk of this happening is far lower than 50-50.
The numbers just make sense really.
So we agree the risk/reward ratio is low enough. I think there is a greater than 50% chance you'll lose, but if you win, you'll more than double up. The problem is that this market moves so quickly that by the time you realize your profits, you may miss out on several other opportunities. Range trading to scoop up 2% per swing seems boring, but it's a guaranteed profit if you don't care if you're either fiat or BTC heavy when price moves to a new range.
Yeah I see where your coming from. Range trading can bite you as well though if the market suddenly takes off and your left on the wrong side of a short- what would your range have been over the last week for instance? And what do you do when your trading for 2% profits and the market moves 10% the other way eating the last 5 trades you made? I dont see myself as missing other oppurtunities as I have enough fiat/btc to make any moves I may want to make in the mean time. As you can can probably tell I trade for btc profits rather than fiat. I personally put it about 30% Ill lose but only time will tell
The current range:
I publicly called the Feb 9 $530 as the bottom. I sold a tiny bit on the bounce, bought it back at $550.
I sold at $678, so I missed a little bit of the bounce and now I'm waiting for lows again under $600. I don't really care if it goes higher, though. I have BTC set aside for trading higher ranges. Only going lower than $550 will necessitate me depositing fresh fiat.
February 18, 2014, 09:30:08 AM
Call me a fool but I couldn't resist buying some goxBTC at .5. Be greedy when others are fearful and all that...
It's not foolish at all, provided you can live with the probable loss. It's like betting a number on the roulette wheel that pays off 50 to 1.
Yeah I can definately take the loss. I only spent 10btc which is a smallish percentage of my 'play stash'.
The way I see it I would have to make a long series of really good trades to double up in the same way and there would be much much more risk involved. While Gox running off with the money is a distinct possibility I think the risk of this happening is far lower than 50-50.
The numbers just make sense really.
So we agree the risk/reward ratio is low enough. I think there is a greater than 50% chance you'll lose, but if you win, you'll more than double up. The problem is that this market moves so quickly that by the time you realize your profits, you may miss out on several other opportunities. Range trading to scoop up 2% per swing seems boring, but it's a guaranteed profit if you don't care if you're either fiat or BTC heavy when price moves to a new range.
Yeah I see where your coming from. Range trading can bite you as well though if the market suddenly takes off and your left on the wrong side of a short- what would your range have been over the last week for instance? And what do you do when your trading for 2% profits and the market moves 10% the other way eating the last 5 trades you made? I dont see myself as missing other oppurtunities as I have enough fiat/btc to make any moves I may want to make in the mean time. As you can can probably tell I trade for btc profits rather than fiat. I personally put it about 30% Ill lose but only time will tell
February 18, 2014, 09:28:51 AM
I haven’t watched volume on multiple exchanges but there can't be much trade on the other floors if price action is so low?
MtGOX's volume was falling relative to other non-Chinese exchanges, and it had already lost its first place among them. As you can see from the tables that I have been posting, after they locked their exit doors their trade volume paradoxically exploded, from ~15 kBTC/day to ˜100 kBTC on certain days. Who knows how much of that is legitmate and how much is generated by the exchange itself.
In the next 48h beside volume, price will explode upward too. I don't think that whoever can will skip the opportunity to buy BTC at this exchange rate, so as bank wires slowly arrive to Gox we will see price go up until Thursday. After that I don't know what will happen, depends on Gox announcement.
Thanx for the update. Now got to find out if Max Kaiser still is running WOT over on RT
February 18, 2014, 09:17:37 AM
Call me a fool but I couldn't resist buying some goxBTC at .5. Be greedy when others are fearful and all that...
It's not foolish at all, provided you can live with the probable loss. It's like betting a number on the roulette wheel that pays off 50 to 1.
Yeah I can definately take the loss. I only spent 10btc which is a smallish percentage of my 'play stash'.
The way I see it I would have to make a long series of really good trades to double up in the same way and there would be much much more risk involved. While Gox running off with the money is a distinct possibility I think the risk of this happening is far lower than 50-50.
The numbers just make sense really.
So we agree the risk/reward ratio is low enough. I think there is a greater than 50% chance you'll lose, but if you win, you'll more than double up. The problem is that this market moves so quickly that by the time you realize your profits, you may miss out on several other opportunities. Range trading to scoop up 2% per swing seems boring, but it's a guaranteed profit if you don't care if you're either fiat or BTC heavy when price moves to a new range.
February 18, 2014, 08:59:23 AM
Call me a fool but I couldn't resist buying some goxBTC at .5. Be greedy when others are fearful and all that...
It's not foolish at all, provided you can live with the probable loss. It's like betting a number on the roulette wheel that pays off 50 to 1.
Yeah I can definately take the loss. I only spent 10btc which is a smallish percentage of my 'play stash'.
The way I see it I would have to make a long series of really good trades to double up in the same way and there would be much much more risk involved. While Gox running off with the money is a distinct possibility I think the risk of this happening is far lower than 50-50.
The numbers just make sense really.
February 18, 2014, 08:54:59 AM
Finally, my purchase decisions are not affected by a few percent of inflation. I buy if I need or want something. Inflation is mostly an annoyance to me (saving is impossible in our current system).
You are contradicting yourself there. Because saving up in cash has been made impossible, as you say, you save less and buy more. The point is that people should save wealth in production, not in money.
Perhaps it seems that way but wealth can be stored in other means than cash. It does not neccessarily increase my consumption. Whether people 'save' in production should be a free choice to make, not a forced one.
The individual should store his wealth in the form most suitable for himself, which could be money that is not designed to loose value.
The society as a whole can not do that of course, because money is only exchange value based on reservation demand. But a society can also not save money in land, because the land is there, has always been there and will always be there. They don't make it anymore. If it increases in value generally, it is because it takes on exchange value and in effect becomes money.
The only way for the society to become rich, is to build up a massive production capacity through investment in capital goods. But building useless production capacity through companies yielding negative profit is counter productive, it consumes wealth. You need to build production capacity for valuable things, and you can only get that through voluntary trade and the hunger for profit. Any violent interference reduces the efficacy of the capital, and credit expansion and zero interest rate policy is the worst interference there is.
February 18, 2014, 08:53:25 AM
Actually it is production that creates wealth and production is stimulated by consumption.
When world currency would be deflationary then consumption will slow because everyone will be motivated to hold onto their money, not to use it on consumption. That in turn means that production will slow down and that actually means less wealth to everyone.
When world currency would be deflationary then consumption will slow because everyone will be motivated to hold onto their money, not to use it on consumption. That in turn means that production will slow down and that actually means less wealth to everyone.
Broken window fallacy. Don't just know it, understand it. Then you might understand why production and consumption are not worthy goals in and of themselves.
February 18, 2014, 08:51:52 AM
I haven’t watched volume on multiple exchanges but there can't be much trade on the other floors if price action is so low?
MtGOX's volume was falling relative to other non-Chinese exchanges, and it had already lost its first place among them. As you can see from the tables that I have been posting, after they locked their exit doors their trade volume paradoxically exploded, from ~15 kBTC/day to ˜100 kBTC on certain days. Who knows how much of that is legitmate and how much is generated by the exchange itself.
In the next 48h beside volume, price will explode upward too. I don't think that whoever can will skip the opportunity to buy BTC at this exchange rate, so as bank wires slowly arrive to Gox we will see price go up until Thursday. After that I don't know what will happen, depends on Gox announcement.
February 18, 2014, 08:51:30 AM
Call me a fool but I couldn't resist buying some goxBTC at .5. Be greedy when others are fearful and all that...
It's not foolish at all, provided you can live with the probable loss. It's like betting a number on the roulette wheel that pays off 50 to 1.
February 18, 2014, 08:50:09 AM
No much action; a good article meanwhile:
http://www.fool.com/investing/general/2014/02/10/77-reasons-youre-awful-at-managing-money.aspx
http://www.fool.com/investing/general/2014/02/10/77-reasons-youre-awful-at-managing-money.aspx
February 18, 2014, 08:45:09 AM
I haven’t watched volume on multiple exchanges but there can't be much trade on the other floors if price action is so low?
MtGOX's volume was falling relative to other non-Chinese exchanges, and it had already lost its first place among them. As you can see from the tables that I have been posting, after they locked their exit doors their trade volume paradoxically exploded, from ~15 kBTC/day to ˜100 kBTC on certain days. Who knows how much of that is legitmate and how much is generated by the exchange itself.
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