Bitstamp just had a dump. Things getting interesting.
Someone just sold 2000, which isn't huge, but it crashed things down to 115..
Someone just sold 2000, which isn't huge, but it crashed things down to 115..
Now Bitstamp is offline
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32601. (Read 26609990 times)
September 09, 2013, 03:20:13 PM
Now Bitstamp is offline
September 09, 2013, 03:18:56 PM
Glad someone else pointed it out too, I thought the 115 was a typo..
September 09, 2013, 03:14:48 PM
Bitstamp just had a dump. Things getting interesting.
Someone just sold 2000, which isn't huge, but it crashed things down to 115..
Someone just sold 2000, which isn't huge, but it crashed things down to 115..
September 09, 2013, 03:02:18 PM
September 09, 2013, 02:24:25 PM
Ask sum of BTC is dropping, bid sum in USD is rising.
September 09, 2013, 02:09:49 PM
Just stay on topic. I didn't mean to troll but wow.. your post was way out of the topic here, that's all dude!
We all hope BTC gets to $1000
you're not alone there!
No worries, sorry about snapping at you this morning when I was half awake, I'm often very irritable when I've just woken up - especially if I've only had about an hour's sleep before the alarm goes offWe all hope BTC gets to $1000
you're not alone there!Back on topic, how long has that bid wall at $133 been there? I've been busy for a while so I've only just noticed it.
September 09, 2013, 02:08:03 PM
For anyone that missed the brief appearance of an enormous bid wall today.
The whole affair seemed to be a buyer acting out of desperation. He saw the price rise 5 dollars in 3 hours, and worried that he was losing an opportunity to get cheap BTC decided to pull the trigger on a 5k BTC buy.
This immediately consumed asks until the price shot up to $137.48. For a very brief time after, this same buyer (or someone else) showed their hand by displaying a 3k bid wall at $135 before quickly contracting it. So there is some more latent buy pressure hidden right now.
I'm fairly sure that I saw that bid wall get sold in to, although I could be wrong about that I suppose The whole affair seemed to be a buyer acting out of desperation. He saw the price rise 5 dollars in 3 hours, and worried that he was losing an opportunity to get cheap BTC decided to pull the trigger on a 5k BTC buy.
This immediately consumed asks until the price shot up to $137.48. For a very brief time after, this same buyer (or someone else) showed their hand by displaying a 3k bid wall at $135 before quickly contracting it. So there is some more latent buy pressure hidden right now.
September 09, 2013, 02:02:10 PM
September 09, 2013, 01:55:34 PM
lots of lulz to follow when that bid wall falls.
$180 by Friday Yes, definitely.
Which Friday do you have in mind?
September 09, 2013, 01:40:32 PM
lots of lulz to follow when that bid wall falls.
September 09, 2013, 01:33:59 PM
Looks like the ask wall dissapeared while you where writing the post down 
September 09, 2013, 01:27:50 PM
For anyone that missed the brief appearance of an enormous bid wall today.
The whole affair seemed to be a buyer acting out of desperation. He saw the price rise 5 dollars in 3 hours, and worried that he was losing an opportunity to get cheap BTC decided to pull the trigger on a 5k BTC buy.
This immediately consumed asks until the price shot up to $137.48. For a very brief time after, this same buyer (or someone else) showed their hand by displaying a 3k bid wall at $135 before quickly contracting it. So there is some more latent buy pressure hidden right now.
The whole affair seemed to be a buyer acting out of desperation. He saw the price rise 5 dollars in 3 hours, and worried that he was losing an opportunity to get cheap BTC decided to pull the trigger on a 5k BTC buy.
This immediately consumed asks until the price shot up to $137.48. For a very brief time after, this same buyer (or someone else) showed their hand by displaying a 3k bid wall at $135 before quickly contracting it. So there is some more latent buy pressure hidden right now.
September 09, 2013, 01:13:22 PM
Why would big players move to Bitstamp? It has about 1/10th the bid depth as Gox. The "big" players cannot cashout without causing major slippage.
I think, most of bitcoin economic active passed through stamps, and so their is more market buys and sells, then bids/ask walls.
this is why the bid/ask depth looks like about 1/10th that of gox, yet volume is well over 1/4 gox
friends of Gox could be the whale
September 09, 2013, 01:09:00 PM
Took some profits at $123 on Bit - jeezus it's choppy around here
funny, people always tell us about their profits but never about their losses :p
Fortunately, as I've said before, because I only have a few BTC this is annoying, not a disaster and I will make it back again. Had I been trading a few thousand BTC I'd be flipping out about that right now! However, I think I can survive losing 0.15BTC, the lesson is worth the price.
Oh well, mistakes are there to be learnt from
I purchased some Bitcoin (only 34) at $128 then tried to withdraw them from MtGox.
Bitcoin withrawals were broken on MtGox at the time, they weren't working. A couple of people reported this in the #mtgox IRC support channel.
Then the 'whale' buy came in pusing up the price by some $8
Shortly after someone bought those 5000 Bitcoin the withdrawals started working again on MtGox.
Is Gox the whale ?
September 09, 2013, 01:03:51 PM
Why would big players move to Bitstamp? It has about 1/10th the bid depth as Gox. The "big" players cannot cashout without causing major slippage.
I think, most of bitcoin economic active passed through stamps, and so their is more market buys and sells, then bids/ask walls.
this is why the bid/ask depth looks like about 1/10th that of gox, yet volume is well over 1/4 gox
September 09, 2013, 01:02:03 PM
September 09, 2013, 01:01:47 PM
This has the potential to have some long term impact on the exchange landscape: https://bitcointalksearch.org/topic/ann-krakencom-exchange-with-usd-eur-gbp-jpy-cad-btc-ltc-xrp-nmc-xdg-str-eth-290799
or this:http://thegenesisblock.com/california-legislature-passes-bill-to-reform-money-transmission-act/
September 09, 2013, 12:48:44 PM
Took some profits at $123 on Bit - jeezus it's choppy around here
funny, people always tell us about their profits but never about their losses :p
Fortunately, as I've said before, because I only have a few BTC this is annoying, not a disaster and I will make it back again. Had I been trading a few thousand BTC I'd be flipping out about that right now! However, I think I can survive losing 0.15BTC, the lesson is worth the price.
Oh well, mistakes are there to be learnt from
Well after the ask wall that was placed a few mins ago it looks like you may be getting your .15 btc back... i think it will go back until there is a 3/4 usd difference with bistamp, at least that is whats being happening all weekend... but I may be wrong though...
A big chunk of that 150% came from switching to LTC the moment that Gox claimed that they were going to introduce trading with it, and then back to BTC before the LTC price dropped back again. That worked out very nicely, much better than I expected it to.
As with today, when I get it wrong it's often due to the sudden appearance of walls, but I suppose that's catching people like me out is the idea behind them placing them there. This often seems to happen on a Monday after a quiet weekend too.
September 09, 2013, 12:47:39 PM
Why would big players move to Bitstamp? It has about 1/10th the bid depth as Gox. The "big" players cannot cashout without causing major slippage.
September 09, 2013, 12:38:29 PM
I see big players moving to Bitstamp slowly, the volume is getting bigger each day, and starting to be almost the same as Mtgox, they have faster and better support, today I made a deposit through SEPA and it was credited the same day, I usually withdraw money and I get it the same or next day on my account..... but still I fail to understand why people still trade on Mtgox after all this shit....
I think you might have answered your own question. People still prefer Gox because of the consistently higher volume. I think this is the only thing that's keeping Bitstamp from taking the lead. As you said though, Bitstamp is slowly overtaking Gox and if they don't get their banking issues resolved it's only a matter of time before Bitstamp becomes the market leader.
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