Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31165. (Read 26484220 times)
December 05, 2013, 02:28:57 AM
Btce is where the big swings are. During high volatility, it follows gox almost perfectly. Bitstamp on the other hand moves slowly and unexpectedly. While btce is having a 15% swing, bitstamp will have a 1% swing... bitstamp can royally screw you as a trader trying to make a trade that would be perfect anywhere else. Also, btce's exchange engine works flawlessly - the best, it has the least downtime, and you can trade altcoins. What more can you ask for? When it comes time to withdraw THEN you can send your coins to bit stamp.
December 05, 2013, 02:27:40 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
why does this shock you?
its the only exchange i will even use...
You withdraw cash from BTC-e? Why not stamp?
oh no, i don't use any exchange to get fiat.
fuck that
Forums/large individual sale only? You must have sold for fiat at least once...
i did a $93,000 public trade with a star of the this thread and we did it in this thread:)
but really, exchanges are not needed and i always do a fair rate. nothing like 50% over, lol
OK, first of all, that's just awesome. Secondly, I'm not surprised.
But, how did you manage the fiat side of things, if you don't mind discussing it?
December 05, 2013, 02:11:21 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
why does this shock you?
its the only exchange i will even use...
You withdraw cash from BTC-e? Why not stamp?
oh no, i don't use any exchange to get fiat.
fuck that
Forums/large individual sale only? You must have sold for fiat at least once...
If you can't get more than MtGox from OTC, you aren't really trying.
http://bitcoincharts.com/charts/localbtcUSD#rg5ztgSzm1g10zm2g25zv
Fast coins are worth more than cheap coins, a lot more in a rising market.
Daily trades over US$2k
December 05, 2013, 02:02:19 AM
December 05, 2013, 01:56:03 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
why does this shock you?
its the only exchange i will even use...
You withdraw cash from BTC-e? Why not stamp?
oh no, i don't use any exchange to get fiat.
fuck that
Forums/large individual sale only? You must have sold for fiat at least once...
December 05, 2013, 01:46:35 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
why does this shock you?
its the only exchange i will even use...
December 05, 2013, 01:44:18 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
why does this shock you?
its the only exchange i will even use...
You withdraw cash from BTC-e? Why not stamp?
December 05, 2013, 01:15:54 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
Huh, good point. I never paid much attention. Do you think BTC-E is Faux volume of trades or perhaps just crazy bot trade?
I honestly don't know.
MtGox is well known to be a clusterfuck of incompetence but I'd expect their business to go to Bitstamp, not BTC-e.
Maybe it's bot-trade, the alt currencies have been going nuts.
December 05, 2013, 01:14:59 AM
One final correction to 1080 before next leg?
more like $1160 December 05, 2013, 01:10:19 AM
One final correction to 1100 before next leg?
December 05, 2013, 01:02:18 AM
December 05, 2013, 01:01:28 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
Huh, good point. I never paid much attention. Do you think BTC-E is Faux volume of trades or perhaps just crazy bot trade?
I honestly don't know.
MtGox is well known to be a clusterfuck of incompetence but I'd expect their business to go to Bitstamp, not BTC-e.
Maybe it's bot-trade, the alt currencies have been going nuts.
December 05, 2013, 12:56:36 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
Huh, good point. I never paid much attention. Do you think BTC-E is Faux volume of trades or perhaps just crazy bot trade?
I honestly don't know.
MtGox is well known to be a clusterfuck of incompetence but I'd expect their business to go to Bitstamp, not BTC-e.
Maybe it's bot-trade, the alt currencies have been going nuts.
December 05, 2013, 12:54:52 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
Huh, good point. I never paid much attention. Do you think BTC-E is Faux volume of trades or perhaps just crazy bot trade?
December 05, 2013, 12:53:07 AM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already.
Apples and oranges. That was comparing Last Gox Trade price of bitcoin to Gold bid. The last trade price of gold was above 1242 (1242.80) at that time so didn't quite make it until tonite.
December 05, 2013, 12:45:24 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
Wtf?
That says BTC-e has the most volume.
December 05, 2013, 12:43:13 AM
Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working.
https://bitcoinaverage.com
https://bitcoinaverage.com
December 05, 2013, 12:38:32 AM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already.
That's it folks. For the first time in history 1,000,000 bits sold for more than an ounce of gold.
$1242.00
$1242.00
Not true. We came close but Gold was a little over 1242 at the time.
Sort of... you don't get an ounce at spot unless you have a desperate seller.
And you couldn't buy gold with GoxBux anyway.
December 05, 2013, 12:33:54 AM
At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already.
That's it folks. For the first time in history 1,000,000 bits sold for more than an ounce of gold.
$1242.00
$1242.00
Not true. We came close but Gold was a little over 1242 at the time.
Sort of... you don't get an ounce at spot unless you have a desperate seller.
December 05, 2013, 12:32:30 AM
Honestly it's mostly hype, Bitcoin isn't a serious transaction medium yet. I remember seeing an article proclaiming 6000 or 7000 sales through Bitpay on Bitcoin Black Friday as proof that we're a real ecosystem.
No, a couple sales per minute on a special day does NOT make a payment system worth $12-13B. That's like a fucking Girl Scout cookie stand.
We've passed Western Union at ~$9B market cap, and they process 28 transactions per second, every day.
Right now Bitcoin is a store of value. The value comes from Bitcoin's future potential as a currency and payment system. Lots of businesses will sign up because it's free and it saves them money; the hard part is convincing people to buy and spend bitcoins if:
A) it's going up constantly and they'll have more money if they wait, and
B) if the currency is extremely volatile.
We know A) will eventually resolve itself if the system grows to maturity. There is a limit to all growth.
The doubt was about B), and my doubts are disappearing.
Exactly how much aggravation, eye-gouging fees, delays, noise, fuss, AML rubber-gloving would someone get from WU if they tried to send $147 million on a Sunday night, across the planet, person-to-person, and wanted it to arrive in seconds, irrevocably confirmed in an hour?
WU is Dead Man Walking right now.
You're right, WU has lost 100% of the market share for wiring $147M at once.
But, yes; Bitcoin has the short term potential to take the wire and remittance market, just as soon as we get some decent exchanges.
WU needs to buy Gox.
It would solve both their problems.
And many of ours.
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