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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31988. (Read 26470871 times)

legendary
Activity: 1204
Merit: 1002
Gresham's Lawyer
If they are matching internally, they are doing so poorly if they can get them off exchange less expensively.
Maybe.

Suppose their ability to send international wires in sufficient quantities was not scaling with their growth in BTC sales volume. In that case they'd have no choice but raise prices both to encourage more people to sell them bitcoins for USA, and to reduce the amount of BTC they have to source externally.

Right, that may well be.  Which suggests a forward indication as they take about a week to award the coins bought there to the Coinbase cloud wallet, so not even transferable elsewhere.
legendary
Activity: 1400
Merit: 1013
If they are matching internally, they are doing so poorly if they can get them off exchange less expensively.
Maybe.

Suppose their ability to send international wires in sufficient quantities was not scaling with their growth in BTC sales volume. In that case they'd have no choice but raise prices both to encourage more people to sell them bitcoins for USD, and to reduce the amount of BTC they have to source externally.
legendary
Activity: 1204
Merit: 1002
Gresham's Lawyer
Coinbase buy price is >219, where are they getting them?
Maybe Coinbase has increased their commission? Or perhaps they are seeing enough BTC->USD business to start matching orders internally instead of relying on the exchanges?
This is their rate before commission.  They add .5%  If they are matching internally, they are doing so poorly if they can get them off exchange less expensively.  I haven't seen what exchange they are meant to be sourcing from, if it is themselves it is an opaque exchange entirely.

I should check the cooler, maybe they have some on ice.
legendary
Activity: 1190
Merit: 1001
Gox just pushed up to 227.30 .... and the show continues! got my popcorn and everything

legendary
Activity: 896
Merit: 1000
Interesting ask wall on BTC-E.. never seen them that large there. (1400)
full member
Activity: 202
Merit: 100
wow, bitstamp is just flying up today! 212.97.... was nervous for a minute, glad i held onto my coins!  Cheesy
Coinbase buy price is >219, where are they getting them?
They're cooking them.... in their really lovely kitchen...


https://coinbase.com/about
sr. member
Activity: 280
Merit: 250
Gox just pushed up to 227.30 .... and the show continues! got my popcorn and everything

I don't want to go to sleep  Cry
full member
Activity: 204
Merit: 100
Gox just pushed up to 227.30 .... and the show continues! got my popcorn and everything
legendary
Activity: 1400
Merit: 1013
Coinbase buy price is >219, where are they getting them?
Maybe Coinbase has increased their commission? Or perhaps they are seeing enough BTC->USD business to start matching orders internally instead of relying on the exchanges?
legendary
Activity: 1204
Merit: 1002
Gresham's Lawyer
wow, bitstamp is just flying up today! 212.97.... was nervous for a minute, glad i held onto my coins!  Cheesy
Coinbase buy price is >219, where are they getting them?
sr. member
Activity: 644
Merit: 260
wow, bitstamp is just flying up today! 212.97.... was nervous for a minute, glad i held onto my coins!  Cheesy
legendary
Activity: 2324
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
full member
Activity: 133
Merit: 100
Just purchased 5BTC with the intent of selling this week after (hopefully) a ~10% bump based on hype alone.
hero member
Activity: 841
Merit: 1000
Lol at tradinglog of Bitstamp, almost no selling going on there.
legendary
Activity: 2324
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 406
Merit: 286
Neptune, Scalable Privacy
$210 on Stamp, China is going ballistic.


The traders are nomming that 210 wall on Bitstamp rather aggressively Smiley
sr. member
Activity: 280
Merit: 250
$210 on Stamp, China is going ballistic.

legendary
Activity: 1400
Merit: 1013
I also assume that Coinbase is buying from both Btc-E and Bitstamp, whichever is lower. So I assume that that is closing the gap too. I may be completely wrong about who they are buying from though.
All day Coinbase has been selling at almost 3% above Bitstamp.
hero member
Activity: 841
Merit: 1000
Note: China slowly waking up now.
legendary
Activity: 1168
Merit: 1000
The fact that BTC-E is so close to the Bitstamp price makes me think this rally has a real base of buying pressure under it.


Bitstamp was closed for deposits Thurs-today.

That's 92 hours of deposits coming in tomorrow.  Bitfinex isnt even allowing trading on Bitstamp because it says USD reserves are too low. Bitfinex trading 2-3$ AHEAD of Bitstamp currently.

Wow. And all of that is basically the first fiat arriving after the Robocoin ATM and Norwegian $900k news.


I also assume that Coinbase is buying from both Btc-E and Bitstamp, whichever is lower. So I assume that that is closing the gap too. I may be completely wrong about who they are buying from though.

You can sell 50 btc on Coinbase right now for over $214/btc..  they must be killing for btc right now (maybe lots of buyers on the other side I assume).

Of course, if Coinbase has a ton of n00b buyers looking to buy (because of ease, whatever) at almost any price, they'll pay whatever for sell orders long as they're making a nice % (as sort of their own offline exchange).
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