Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29775.

ShroomsKit

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Quote from: oda.krell on February 13, 2014, 12:21:44 PM

Quote from: ShroomsKit on February 13, 2014, 12:18:54 PM

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Where do you see panic selling?

Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic.
Why would people do that. Is there a reason i didn't think of or just pure stupidity?

oda.krell

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Quote from: ShroomsKit on February 13, 2014, 12:18:54 PM

Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

Where do you see panic selling?

roslinpl

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Bitcoin price is so unpredictible

adamstgBit

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Trusted Bitcoiner

ShroomsKit

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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?

oda.krell

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Let's test those buyers' resolve on Bitstamp a bit. Just the tip, promised ^__^

JorgeStolfi

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Quote from: Richy_T on February 13, 2014, 11:57:08 AM

When the guy disburses his supply of Yuan to the other traders, that increases supply and devalues it (a little).

It only moves Yuan from a Chinese pocket to other Chinese pockets. The total amount of Yuan in China remains the same.

Most Governments dislike their currency being exported because any foreign bank or government that gathers enough of it can manipulate their exchange rates, import/export balance, and inflation. Some governments try hard to limit export of their currency, others may just live with it, others may have other motives to encourage it.

fonzie

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lower lows on BTC-E - 616$

Choo choo, bullish as fuck to the mooon

Gox going to break 450$ in the next hours

Cheesy

to da moon you bulltards

BillieJean are you still happy as fuck with your cheap 790$ coins

All credit cards maxed out already?

billyjoeallen

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Hide your women

Quote from: Richy_T on February 13, 2014, 11:52:24 AM

One has to give Gox some credit actually. At least this time they are Goxxing everyone before the rally rather than during it.

What's funny is that the Gox announcement has a worse effect on the price than the DDOS attack, at least so far. We've had so much bad news, we are growing immune.

aminorex

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Sine secretum non libertas

Quote from: billyjoeallen on February 13, 2014, 11:36:25 AM

...assumption that the Chinese government understands all the implications of Bitcoin is questionable.

The Chinese government is incredibly conservative in outlook. Any potential for transformative change is threatening. They are institutionally very ill-equipped to deal with technical innovation with the potential to change relative power structures, and they are deeply, deeply antipathetic to such innovation. The inner circles of the CCP form a network of extremely wealthy families, which have co-opted the interests of their society in a superlative fashion. Defectors from their ranks will be required in order for bitcoin to get any sort of sanction. Historical materialism may motivate defections. It's ideology is pervasive in the CCP, and it forms a potent argument for the inevitability of socioeconomic transformation driven by technological change. I find it difficult to assess the importance of this motivation. Certainly it will only affect a very small minority of the power players, but if it affected a critical few, it would become an important factor in events.

podyx

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Quote from: delphic on February 13, 2014, 11:56:13 AM

Quote from: yrtrnc on February 13, 2014, 11:47:03 AM

Cheap coins everywhere, Christmas came early

There's no such thing as a cheap coin. It is the current market price. Bitcoins have no intrinsic value, only a current market price.

if you think the current price is low compared to what you think the price could/should be, remember that the 'low' price is 'low' because the market implicitly disagrees with you.

What it will be worth in the future is conjecture.

u must be very new here

just a couple days ago there was a flash crash down to 530

ChartBuddy

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Explanation

delphic

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Quote from: billyjoeallen on February 13, 2014, 11:53:39 AM

Quote from: aminorex on February 13, 2014, 10:48:01 AM

Quote from: billyjoeallen on February 13, 2014, 10:38:08 AM

Obviously you are wrong, because according to you, 95% of November rally price is from China and it hasn't dropped to 5% of ATH yet, or is that what you are predicting? If I lived in China, I'd be a hodler. Moreso than now even. I can do international wire xfers. The Chinese can't. Bitcoin can be spent almost anywhere. The renmimbi can only be spent in China.

I will happily accept your RMB.

LOL you're like that really smart kid in the front of the class who finds fault with the oversimplification of the idea I give to the slower learners.

And you're right, our student doesn't really understand the definition of "zero-sum".

Mining is a break-even proposition, which means half the mining makes a profit and the other half loses money. Bitcoins are produced, so there is a positive sum.

'Student'... LOL, I wish I was a student again.... but that was a very, very long time ago. Happy days.

keithers

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This is the land of wolves now & you're not a wolf

Quote from: Nemo1024 on February 13, 2014, 11:51:33 AM

Quote from: magicmexican on February 13, 2014, 11:43:41 AM

This slow crash is very annoying, when i want to short, i want to see profits fast. I am not really comfortable to sell for the midterm in this situation that could end up being the bottom, or close to the bottom.

No, I don't dare shorting this market, save for 1-2 BTC for a few hours, just for the fun of it. I mainly bring fresh fiat to the exchange, and buy gradually in on the way down.

BTW, I find Money Flow Index and True Range to be quite useful these past days.

This is what I do. I am ready to throw some more money at it, but I am trying to evaluate on what price I want to do so. I missed the bottom the last few times because they happened in the middle of the night when I was sleeping...

Richy_T

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Quote from: JorgeStolfi on February 13, 2014, 10:45:55 AM

Note that the article was written before the Chinese stomped on bitcoin.

But even if nothing had changed, there is one little snag in that article. If a Chinese citizen uses Yuan to buy bitcoins in China and then sells them for dollars in the US, there is no export of Yuan to the US actually. Instead the guy gives his Yuan to other Chinese traders, and the US traders give him a bunch of dollars.

So why would the Chinese government object to a Chinese national receiving a gift from americans?

When the guy disburses his supply of Yuan to the other traders, that increases supply and devalues it (a little). Governments would prefer they have the monopoly on devaluing currencies.

delphic

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Quote from: yrtrnc on February 13, 2014, 11:47:03 AM

Cheap coins everywhere, Christmas came early

There's no such thing as a cheap coin. It is the current market price. Bitcoins have no intrinsic value, only a current market price.

if you think the current price is low compared to what you think the price could/should be, remember that the 'low' price is 'low' because the market implicitly disagrees with you.

What it will be worth in the future is conjecture.

hdbuck

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Quote from: Richy_T on February 13, 2014, 11:52:24 AM

One has to give Gox some credit actually. At least this time they are Goxxing everyone before the rally rather than during it.

ahahah for sure bro Cheesy

100% agree
Gox is Bitcoin's saviour! They'll be back even stronger!! But not before squeezing the s**t out weak hands with more feat doubt and uncertainty..

if you guys think Gox isnt f****g loaded in BTC anyway, your are fooling yourselves...

billyjoeallen

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Hide your women

Quote from: aminorex on February 13, 2014, 10:48:01 AM

Quote from: billyjoeallen on February 13, 2014, 10:38:08 AM

Obviously you are wrong, because according to you, 95% of November rally price is from China and it hasn't dropped to 5% of ATH yet, or is that what you are predicting? If I lived in China, I'd be a hodler. Moreso than now even. I can do international wire xfers. The Chinese can't. Bitcoin can be spent almost anywhere. The renmimbi can only be spent in China.

I will happily accept your RMB.

LOL you're like that really smart kid in the front of the class who finds fault with the oversimplification of the idea I give to the slower learners.

And you're right, our student doesn't really understand the definition of "zero-sum".

Mining is a break-even proposition, which means half the mining makes a profit and the other half loses money. Bitcoins are produced, so there is a positive sum.

Richy_T

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Activity: 2674

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

One has to give Gox some credit actually. At least this time they are Goxxing everyone before the rally rather than during it.

Nemo1024

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Quote from: magicmexican on February 13, 2014, 11:43:41 AM

This slow crash is very annoying, when i want to short, i want to see profits fast. I am not really comfortable to sell for the midterm in this situation that could end up being the bottom, or close to the bottom.

No, I don't dare shorting this market, save for 1-2 BTC for a few hours, just for the fun of it. I mainly bring fresh fiat to the exchange, and buy gradually in on the way down.

BTW, I find Money Flow Index and True Range to be quite useful these past days.

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