Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32559. (Read 26608429 times)

Not sure I agree. It's a trade and a symmetry. There's no reason to pick BTC over $. Not sure what an appropriate indicator would be though.

Edit: As the $ is currently more stable, that is a good argument for using $ as the measure.

just what do you think the FBI will say...

how about..

we need more money for more computing power so that we can try to trace these illicit money laundering transactions, please give us another $10 billion so we can hire more people and buy more hardware

i would guess the shifts in the btc demand curve are gradual over time due to the fact that it is difficult to get fiat into the system.  however this may change as the btc economy widens (btc denominated securities and services)...

however when from one day we go from trading 30k (day before peak) to the next day when we hit the peak of 260 and then proceed to have volume 5x to 160k on gox, you see a 60% drop in value.

it is hard to get fiat in but it is easy to open up 11M worth of btc in wallets... this is an indication that most btc owners are just sitting on a ton of btc and willing to hold on for the long term (or many people didnt take it so seriously and lost their wallets in the first couple years thus limiting supply)

it seems that hitting 250 resulted in unlocking some btc whales' to take massive dumps, but since the change in ownership, and the double bottom at 60ish over the last half year, one can reasonably assume that the change and shake out has happened. and as far as i can tell there is no indication that the underlying fundamentals driving btc adoption are slowing down, in fact once all this regulatory BS gets under control, and it will (otherwise making it a blackmarket thing in the USA but not in other western countries will only increase its value at a higher pace - just like coke and weed ), there will be an upward correction.

i would pay close attention to this date...

" 2014 Appropriations Bill for Commerce, Justice, Science and Related agencies which contains many things, but notably requests an FBI Briefing on the subject of Bitcoins and Money Laundering, to be available within 120 days of signing.  On July 23, 2013, "

http://bitcoinmagazine.com/6361/bitcoin-goes-to-washington-bitcoin-and-money-laundering-2014-commerce-justice-science-and-related-agencies-appropriations-bill-federal-bureau-of-investigation/

The total BTC volume on the exchanges will become lower and lower if Bitcoin succeeds. Less BTC traded for FIAT = Good for Bitcoin.

Anyone notice that minutes ago the ticker on Gox was showing last prices in the $136 range but this did not register on other tickers? Weirdness.

*edit*

And gox's ticker is not showing lows in below $137. More weirdness.

You're not being a syntax nazi, but a semantic one.

this i have noticed as well. whenever transaction volume is low, the price is high. when volume is high, price is slow. supply & demand.

no. not this...

the peak happened on low volume, it was high volume which caused the crash, careful what you wish for...

I don't want to be a syntax nazi, but Gox isn't poor. Their service is.

 

This.

Poor Gox. 

If you talking about charts data - BTCCharts have a module with archival orderbook (every hour).
Eventually you can rollover on trades in live orderbook module to see orderbook from that time (to the seconds).

take it easy, and save your money 

According to this 15k BTC Volume in 24 hours had occurred over just these 4 Exchanges. This is good as we are moving towards a decentralized exchange rather than the risky centralized trading platform.

Birds are flying very low. Is this the sign?   

 

Glad you are back, the truth is we need OTC more than ever. Hope to do my first trade with you soon.

Congrats. There aren't many things more important than good health: physical or mental.

MTGOX VOLUME  =/= Bitcoin 

I think after 6 more months I am back at "normal". It takes time.

So you recuperated completely?

I (for one) cannot currently justify using Gox for storing either fiat or BTC. I did store 1000+ BTC there for more than a year so apparently I trusted them more back then, (or BTC was cheaper..)

- No real reason to buy from there, as Bitstamp's liquidity is enough for me.

- Feels risky to sell there, since I am waiting for my first withdrawal.

Meanwhile:

- Localbitcoins has grown a lot and is already a major source of volume.

- Bittiraha.fi in Finland is doing more volume extraexchange.

- I am also back to work, doing OTC.  

We are moving away from Gox-centric world. In my observance, the total volume we have now, is actually brisk when taking into account the insecurity concerning Gox, the holiday season, and the aftermath of the minibubble in April:

http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgSzm1g10zm2g25zvzl

(It is increasingly more evident that there never was a bubble in 2013, not any more than the Pirate event in 2012. The only bubble Bitcoin has experienced so far was in June 2011, and that was a bear trap. Bulls made anything north of 300% in 2 years =) )