Is bitstamp down right now? 
No
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33248. (Read 26463835 times)
May 23, 2013, 06:25:16 AM
May 23, 2013, 06:22:25 AM
Is bitstamp down right now?
May 23, 2013, 06:03:17 AM
May 23, 2013, 05:45:00 AM
OMG, Amir removed his Mohawk... That must be a bearish signal...
Nice guy in the flesh, but why am i on edge, when he is on screen?
May 23, 2013, 05:03:00 AM
May 23, 2013, 04:39:49 AM
Well, if you are bullish, a wall like that means you don't get much price slippage when you buy.
Many people have given this same slippage explaination over and over again since I joined this forum.
The reason I don't believe it is that I've always found it quite odd that someone would sometimes wait for the price to increase by as much as a dollar or two per Bitcoin until we hit a wall only to then buy it all to avoid slippage
My post was to suggest a possible reason for a big chunk of the 1000 BTC ask wall at 123 being eaten. If the wall was further away from the strike price then I think I'd agree with you. IIRC it was just under 123 with very thin asks in between.
IMHO a bullish buyer saw an opportunity to quickly pick up a lot of coins (660) at a fixed price. Wouldn't you prefer to get all your coins at a fixed price and let others lose on slippage as they push the price up?
Note that "quicky" means not having to sit for hours on Gox buying small amounts of coin at a time, or risk pushing the price up by setting a large bid, and finding all the speculators seeing this as a signal to push the price up.
BTW, I don't consider 660BTC that huge amount of coins. You can make a market order for that quantity and the slippage is minimum. If we speak about +1,500BTC... Well, that's another story.
May 23, 2013, 04:37:26 AM
Well, if you are bullish, a wall like that means you don't get much price slippage when you buy.
Many people have given this same slippage explaination over and over again since I joined this forum.
The reason I don't believe it is that I've always found it quite odd that someone would sometimes wait for the price to increase by as much as a dollar or two per Bitcoin until we hit a wall only to then buy it all to avoid slippage
My post was to suggest a possible reason for a big chunk of the 1000 BTC ask wall at 123 being eaten. If the wall was further away from the strike price then I think I'd agree with you. IIRC it was just under 123 with very thin asks in between.
IMHO a bullish buyer saw an opportunity to quickly pick up a lot of coins (660) at a fixed price. Wouldn't you prefer to get all your coins at a fixed price and let others lose on slippage as they push the price up?
Note that "quicky" means not having to sit for hours on Gox buying small amounts of coin at a time, or risk pushing the price up by setting a large bid, and finding all the speculators seeing this as a signal to push the price up.
May 23, 2013, 04:03:32 AM
May 23, 2013, 03:03:10 AM
May 23, 2013, 03:00:35 AM
OMG, Amir removed his Mohawk... That must be a bearish signal...
May 23, 2013, 02:51:29 AM
Conspiracy theory # 1337: Mt.Gox is artificially holding the price stable until their new platform is released and can handle the volume associated with the coming rallies/crashes
Speaking of which, anyone know when the platform is supposed to be released?
Speaking of which, anyone know when the platform is supposed to be released?
If that were true, there would have been volume... but there wasn't.
Anyway, looks like the price is finally beginning to wake up.
May 23, 2013, 02:51:18 AM
People who are selling now (unless they really need the money) are just weird.
May 23, 2013, 02:37:08 AM
Conspiracy theory # 1337: Mt.Gox is artificially holding the price stable until their new platform is released and can handle the volume associated with the coming rallies/crashes
Speaking of which, anyone know when the platform is supposed to be released?
Speaking of which, anyone know when the platform is supposed to be released?
If that were true, there would have been volume... but there wasn't.
Anyway, looks like the price is finally beginning to wake up.
May 23, 2013, 02:28:52 AM
OK, I'm liking what I'm seeing here this morning. Even btce bid price is gradually catching up and the balance of volumes between the currencies beginning to look a lot more healthy
May 23, 2013, 02:24:18 AM
"What's the tipping point for this thing to really catch on?"
My answer: For it to be big enough that the media have a wide enough pool of people who can talk competently enough for them not to be calling on Amir all the time!
May 23, 2013, 02:19:37 AM
his passion is kind of contagious though!
May 23, 2013, 02:02:43 AM
May 23, 2013, 01:45:37 AM
How does this make sense?
May 23, 2013, 01:11:02 AM
May 23, 2013, 01:06:13 AM
So... the action is over? 
Jump to: