Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32542. (Read 26471356 times)

All good points.  I would add that sending IOU's is nearly equally as fast as sending XRP.  Seconds typically.  I also agree that XRP is worth speculating on and do have decent amounts of XRP.  Although I believe the risk is worth the reward, I am very aware that the odds of XRP increasing significantly in value, are not on the side of the speculator.

@MAbtc - Some very fair points although holding "debt" from gateways is the exact same thing as having BTC or USD in Gox or Stamp.  No difference whatsoever.  In fact, isn't it the Gox USD IOU's that are causing all this mess?

@WonkyTonky...+1 for arbitrage.  

I'm sure some see the strong resistance at 100-105, which has been unbreakable, to be a good reason.

Ripple is great. XRP is scum. Open Coin is scum. I'd love to invest in Ripple because it has great potential; it's the most versatile payment system I have every come across. Unfortunately, I can't touch XRP -- there is an endless supply of it in very few hands that can and will dump your investment to nothing. I made a few coins off of trading XRP in May/June, but once I saw how quickly a very small fraction of the XRP held by Open Coin insiders nosedives the market simply by being shown on the order book, I got out for good. Open Coin recently made a payment of 200 million XRP to an unknown entity, and, big surprise, most of it has been sold over a few weeks. July has been a bloodbath, and looking at the ripple forums, holders still don't seem to understand why they are getting fucked so badly.

The thing is, discussing Ripple outside of the context of XRP is not very useful, as Ripple is completely useless at current adoption/liquidity levels. There is nothing you can do except speculate on XRP -- which is why it was marketed so heavily to bitcoiners. I don't even understand why they released the client so early; it's so buggy and unstable that it appears to be more of an alpha than beta. I don't know on what kind of time frame we should expect Open Coin to have the protocol fully implemented, but I simply don't trust them. Why would I?

If and until there is a far more robust system of reliable and trustworthy gateways, I would be very wary of holding value in any currency on Ripple. And even then, I'd be wary, considering I can only either hold debt from gateways, or a currency that by definition is under constant threat of manipulation.

or better question......would you sell right now? why or why not?

I'm starting to get convinced that they've orchestrated a genuine trend reversal. Doing it like this, not allowing capitulation, might serve to reduce volatility. A gradual process on people becoming convinced that it's not going back to 80 again, means re-investment more evenly spread out.

silly idea?

thanks, i never realized there's a counter for connected users at the bottom.
But that's just the users watching bitcoinity, so there's no way to find out about connected users at gox?

agree with coinseeker (for one time that is )


i'd say.. dont think to much about ripple..     just think of the arbitrage tool you can do between exchanges .. it will be awesome..
i dont care about xrp at all..    it has no value to me.
i dont care they are not open source
i dont care they are private and want profit..   

just let me arbitrage

i use http://bitcoinity.org/markets   it gives a good impression of ppl online..   they are just a part of it ofcourse but take note's when things are happening and how many users are online..  you get a good impression. 

just a little question:
Is there a possibility to see how many people are logged in at gox?
Or are there at least some statistics with daily amounts of logins? (although perhaps traders with their own software won't be listed there)

Transaction time is much faster, and they require no mining, which means that less energy and hardware is used to secure transactions with the Consensus system. I assume there is also no need to store the blockchain on the hard drives of thousands of users. I think it's worth speculating on.

That's because there is nothing "special" about it.  It's just a crypto-currency.  It prevents spam and can be used natively without trust lines.  Use it, don't use...Outside of the fact that each account needs about 100 XRP reserves (less than $1) for the prevention of spam, it's really totally irrelevant to ones use of the network.  It's just one of dozens of potential fiat and crypto currencies.  I really don't understand why people are so obsessed with XRP.  Chances are, XRP is never really going to be worth anything significant, so who cares?


Yes I realize, freedom is a "weird" concept for some.  

No, I really don't get whats so 'special' about XRP.
Yes, and this is what I don't get. What is the purpose of XRP beyond any other centralized e-currency, only with a floating value, considering their protocol can support any other currency no matter what?
Now you're just getting weird.

looks good

Lots of bitcoins up for sale right now, and we have been seeing more and more volume on the Ups, if someone starts taking chunks off those walls.... watch out  


  * wonders what depth would look like at 105 

Possible explanation: after the previous whale buy, which drove the price from 93 to 97, there was a slow slump back to 93.
Today's sellers below 97, down to 95.5, hoped to influence the market into slumping back to 93-94. It's early to tell if they were wrong,
but IMO it's more likely to reach 98 than to slump back to 94. Of course, a whale sell can prove me wrong anytime.

Use a trading client like goxtool instead of trying to trade through the website.

Why does TA say down? I'm not back in due to the resistance we are at as well as 100 and 105. So, I'm watching the battle from the hills (but I got my gun with me ;-)

The gold silver thing is interesting. I am pretty sure we are going to see an unraveling of the gold shorts at some point. This is going to expose the dollar. Once the price of gold decouples from a few currencies that are a bit too inflated (not really the dollar yet) we will see BTC pop. Though, BTC may pop first. (I mean up). Even though the USD isn't too inflated yet (that 85 Billion a month they print is not seeing many peoples hands, mostly it's asset investments) the gold supply is starting to dwindle. Watching Max Keissers 2nd to last video was really interesting, strongly recommended: http://rt.com/shows/keiser-report/episode-474-max-keiser-421/

No issues on my end. I've been logged in for the last 6 hours without a disconnect, happily trading away. Just curious where we will move next. My gut says up, thanks to gold and silver. TA says down.