mtgox @ 362 and climbing... do I hear 400 tomorrow?
bitstamp has the next wall at 350. doubt that can get consumed overnight, but i'm usually wrong about that.
Whats a good site to view the walls at for bitstamp.
rtbtc.com is really nice
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32200. (Read 26713133 times)
November 08, 2013, 07:42:28 PM
bitstamp has the next wall at 350. doubt that can get consumed overnight, but i'm usually wrong about that.
Whats a good site to view the walls at for bitstamp.
rtbtc.com is really nice
November 08, 2013, 07:41:58 PM
Did that wall on our exchange at $335 just get eaten or was it moved? 
I see about 700 BTC bought at $335 roughly 3 minutes ago.
November 08, 2013, 07:41:46 PM
mtgox @ 362 and climbing... do I hear 400 tomorrow?
bitstamp has the next wall at 350. doubt that can get consumed overnight, but i'm usually wrong about that.
it's being consumed as we speak.
and it's gone!
November 08, 2013, 07:41:40 PM
mtgox @ 362 and climbing... do I hear 400 tomorrow?
bitstamp has the next wall at 350. doubt that can get consumed overnight, but i'm usually wrong about that.
Whats a good site to view the walls at for bitstamp.
November 08, 2013, 07:40:26 PM
mtgox @ 362 and climbing... do I hear 400 tomorrow?
bitstamp has the next wall at 350. doubt that can get consumed overnight, but i'm usually wrong about that.
November 08, 2013, 07:39:18 PM
Did that wall on our exchange at $335 just get eaten or was it moved?
November 08, 2013, 07:38:22 PM
mtgox @ 362 and climbing... do I hear 400 tomorrow?
November 08, 2013, 07:38:05 PM
$362.5
mother of god
mother of god
November 08, 2013, 07:37:23 PM
Past 2200, I'm not even surprised anymore.
November 08, 2013, 07:37:16 PM
some dipstick is going to be facepalming for dumping 1715 at one go for 335 on bitstamp.
it's a huge gift for bobby lee.
it's a huge gift for bobby lee.
November 08, 2013, 07:35:59 PM
Satoshi he say "Cheap Bitcoin no more. Should mine sooner!"
November 08, 2013, 07:34:05 PM
November 08, 2013, 07:32:24 PM
too many chinese. too few bitcoins. someone is making a lot of money by selling for $350 in china and buying for $330 in europe.
when the chinese buyers decide to take a profit, you had best be headed the same direction, faster.
meanwhile, if the same number of bitcoin are bought in the lit market today as yesterday, then the price will go over 3000 yuan.
since that can't happen, either someone will buy the wall at usd 335 on bitstamp, and send it to btcchina, or else the dam will break tonight.
when the chinese buyers decide to take a profit, you had best be headed the same direction, faster.
meanwhile, if the same number of bitcoin are bought in the lit market today as yesterday, then the price will go over 3000 yuan.
since that can't happen, either someone will buy the wall at usd 335 on bitstamp, and send it to btcchina, or else the dam will break tonight.
Oh ye of little faith. Are you new to bitcoin or something?
It can't happen because the arbitrage cost between btcchina and bitstamp can't be that large. Nothing to do with BTC's fundamental value or technical condition. Just an arbitrage argument: Things go on until they can't (completely disregarding "should"). Then they don't.
The honey badger is chewing through 2200 yuan right now. Another 2000 BTC of flow puts the price at 2500 tonight, absent more supply.
November 08, 2013, 07:31:47 PM
Honestly I'll be concerned if the current growth rate on the weekly chart continues for more than another week without some consolidation. In April we had two > 30% weeks followed by a 45% week before the crash.
Current week is +35% with one day left to go.
Current week is +35% with one day left to go.
Is that the first week, the second or the third? If it's +35% the first week then I'm still happy.
November 08, 2013, 07:22:23 PM
Oh and some wild musings about how high bitcoin could go...
Monetary supply is about 12 T$.
Max bitcoins in existence : 21 M BTC.
If bitcoin ever becomes pervasive like the Internet :
BTC could reach 12T/21M=~600 000 $ (2013 $) give or take an order of magnitude!
Sadly I think we won't have an Internet by the time bitcoin could reach it's full potential, so it's value will effectively end up as 0. (but so will the $, and 0/0=undefined!)
Monetary supply is about 12 T$.
Max bitcoins in existence : 21 M BTC.
If bitcoin ever becomes pervasive like the Internet :
BTC could reach 12T/21M=~600 000 $ (2013 $) give or take an order of magnitude!
Sadly I think we won't have an Internet by the time bitcoin could reach it's full potential, so it's value will effectively end up as 0. (but so will the $, and 0/0=undefined!)
November 08, 2013, 07:17:52 PM
My main concern are these.
They are moon bears. They live in China and have moon shape chest mark.
China...moon...bear
They are moon bears. They live in China and have moon shape chest mark.
China...moon...bear
HOLY CRAP
what happens when these guys are unleashed !!!
November 08, 2013, 07:09:28 PM
What charts are you looking at? The actual growth is almost double that!
The weekly weighted prices from here:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zigWeeklyztgSzm1g10zm2g25The weekly weighted prices from here:
November 08, 2013, 07:05:44 PM
What charts are you looking at? The actual growth is almost double that!
The weekly weighted prices from here:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zigWeeklyztgSzm1g10zm2g25 The weekly weighted prices from here:
November 08, 2013, 07:05:14 PM
Log charts are useful for illustrating the spread or adoption of a technology but not specific instances of that technology. Bitcoin is just an instance of something larger. And even if it wasn't, a log chart would be appropriate for spread or adoption, not price in fiat.
But isn't price in fiat pretty much proportional to bitcoin adoption? (assuming fiat value is constant)Fix your brain.
http://www.x-btc.com/1/post/2013/11/bitcoin-is-not-surging-going-ballistic-or-going-on-an-astronomical-tear.html
What's yours?
Bitcoiners suffer from extreme confirmation bias and the charts they concoct reflect this.
Quote
The reason why this makes sense is that new and groundbreaking technologies are not linear, they are S-curves.
Here's a chart of Facebook's users :
*exponential chart*
As you can see its not linear, its exponential. Growth starts out small, maybe stays linear for a while but at some point a critical mass is reached and adoption propagates like a chain reaction with each new user causing more new users to adopt. Later when saturation is nearing the curve slows down and starts to level off (you can just see that starting to happen at the end of this chart).
Bitcoin is following a similar adoption curve, the only difference is that the price is also affected by other factors like greed, fear, news, and the economy. This adds volatility to the curve and even creates bubbles within the curve but the overall trend stays the same - an exponential curve (with bumps) that will at some point level off.
Here's a chart of Facebook's users :
*exponential chart*
As you can see its not linear, its exponential. Growth starts out small, maybe stays linear for a while but at some point a critical mass is reached and adoption propagates like a chain reaction with each new user causing more new users to adopt. Later when saturation is nearing the curve slows down and starts to level off (you can just see that starting to happen at the end of this chart).
Bitcoin is following a similar adoption curve, the only difference is that the price is also affected by other factors like greed, fear, news, and the economy. This adds volatility to the curve and even creates bubbles within the curve but the overall trend stays the same - an exponential curve (with bumps) that will at some point level off.
November 08, 2013, 07:02:34 PM
Honestly I'll be concerned if the current growth rate on the weekly chart continues for more than another week without some consolidation. In April we had two > 30% weeks followed by a 45% week before the crash.
Current week is +35% with one day left to go.
What charts are you looking at? The actual growth is almost double that! Current week is +35% with one day left to go.
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