Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31354. (Read 26608069 times)
December 05, 2013, 09:31:13 PM
What about merchants? Can they still accept bitcoin without any problems?
December 05, 2013, 09:27:53 PM
Maybe a little bit obsolete already, but anyway here's something I read from Chinese media:
In China, bitcoin enterprises all think the notice of government published yesterday were very positive news to them. Bitcoin is not recognized as currency means they don't need to get currency related license, which is almost impossible for them to apply. In other words, if bitcoin was recognized as currency, then all the exchanges would have to close immediately because then don't have and will have no way to get currency exchange license. In China, currency exchange is strictly restricted and only some state banks can provide limited service.
Since the government officially announced the bitcoin is a 'virtual commodity', so there's much less policy risks now. More mainstream enterprises are considering bitcoin related business more seriously now.
In China, bitcoin enterprises all think the notice of government published yesterday were very positive news to them. Bitcoin is not recognized as currency means they don't need to get currency related license, which is almost impossible for them to apply. In other words, if bitcoin was recognized as currency, then all the exchanges would have to close immediately because then don't have and will have no way to get currency exchange license. In China, currency exchange is strictly restricted and only some state banks can provide limited service.
Since the government officially announced the bitcoin is a 'virtual commodity', so there's much less policy risks now. More mainstream enterprises are considering bitcoin related business more seriously now.
December 05, 2013, 09:24:25 PM
My 5 year old son says "Daddy, how many bitcoins do you have?" I answered. He said "Daddy that's not enough, you should buy some more Bitcoins"
I have one very smart 5 year old
I have one very smart 5 year old
So how many bitcoins does a 5 year old think is "enough?"
Well he saw the physical ones that I got from Casascius today. The halves and the singles. So more than that!
*Edit Selling them as well. Link in signature.
December 05, 2013, 09:20:45 PM
Ya. Just spent some fiat. We'll see.
My $1010 prediction was perfect. December 05, 2013, 09:14:45 PM
Ya. Just spent some fiat. We'll see.
December 05, 2013, 08:56:38 PM
Is the algo trader working all four of the big exchanges or are the markets mature enough that a bounce in one triggers the others?
I don't know. I just know "he" is on Gox. I guess he or they could be running on all the major exchanges. But even controlling one at these low volume periods is enough to manipulate the price. Quote
A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.
He ran it for about a week to a week and a half before but it wasn't as noticeable. Nor were its movements as large as this current one. I expect him to change it up in the next couple days.
We still have another couple hours at these low prices so buy up while you can.
December 05, 2013, 08:53:47 PM
Thanks Vigil. I see the Dec 2 pattern. You mentioned the algo somewhere above, but not sure how you got there.
1010 seems to have a small wall, so we'll see. I was looking at cny when the sellers started, then changed to stamp. Confusing my pea brain.
No problem. My bid hit exactly at the 1020 I set 4 hrs ago based on the Dec. 2 plots to play it safe. It may still go lower but didn't want to take the risk. The first algo I noticed started either right at the $450 drop or a couple days after where it plateaued at $900 or so. 1010 seems to have a small wall, so we'll see. I was looking at cny when the sellers started, then changed to stamp. Confusing my pea brain.
Whoever is running the algo switched up about a week back to this new one. It carries the price high to $1200 or so and then plummets the price down to the $850 mark. There is a small rebound with a small double reversal and another small sell-off. It will now start upward toward $1200. Unless it is turned off of course.
That means that the China news only played into the algo creating a much sharper decline than on the 2nd.
December 05, 2013, 08:50:35 PM
Guys, I panicked and sold 5% of my bitcoins at least 1000... am I a bad person? Should I buy back?
yes you're a bad person, send me 1000 btc to become a good person again.
with that many coins if you haven't sold enough to retire, you are mental.
December 05, 2013, 08:44:46 PM
A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.
If I follow what you mean... not an algo trader. Just an opportunity that was taken.
Correct?
December 05, 2013, 08:26:46 PM
A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.
December 05, 2013, 08:17:40 PM
Is the algo trader working all four of the big exchanges or are the markets mature enough that a bounce in one triggers the others?
December 05, 2013, 08:15:04 PM
Thanks Vigil. I see the Dec 2 pattern. You mentioned the algo somewhere above, but not sure how you got there.
1010 seems to have a small wall, so we'll see. I was looking at cny when the sellers started, then changed to stamp. Confusing my pea brain.
1010 seems to have a small wall, so we'll see. I was looking at cny when the sellers started, then changed to stamp. Confusing my pea brain.
December 05, 2013, 08:13:52 PM
Somebody dumped 270 Coins @ stamp and somebody else bought 280 cheap back 
A swing and a miss
December 05, 2013, 08:11:00 PM
Somebody dumped 270 Coins @ stamp and somebody else bought 280 cheap back
December 05, 2013, 08:07:20 PM
If you want to know what is happening just look at the chart on Dec. 2 - we are going through a replay of that algorithm pattern after the big sell-off. I am guessing it will hit close to $1010 over the next three hours. Maybe lower.
December 05, 2013, 08:05:02 PM
Red candles everywhere. Stamp down 50 points and looks like going lower.
December 05, 2013, 08:04:36 PM
My 5 year old son says "Daddy, how many bitcoins do you have?" I answered. He said "Daddy that's not enough, you should buy some more Bitcoins"
I have one very smart 5 year old
I have one very smart 5 year old
So how many bitcoins does a 5 year old think is "enough?"
December 05, 2013, 08:01:56 PM
December 05, 2013, 08:00:18 PM
Now what? A delayed reaction?
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