Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33253.

Miz4r

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Quote from: icekiss on May 22, 2013, 02:17:56 PM

Quote from: Zephir on May 22, 2013, 02:09:01 PM

I don´t believe that the price on bitstamp, drop back to 117.xx, with this buying pressure right now.

There is lots of buying pressure, right. But it can't move the price, and at some point the buyers are out of fiat. Then its the turn of the sellers again (just the nature of every exchange ever Wink

), which will move the price (simply because the ask walls are way weaker). This equation only changes if mt.gox rises significantly, amplifying the buying pressure.

Not so sure about that, lots of fresh fiat is arriving now from people moving over from Gox and they want to buy cheap coins. First the coins moved from MtGox, now the fiat is following in strong.

bobdude17

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Quote from: samson on May 22, 2013, 02:20:42 PM

These askwalls and bidwalls seem far too high considering there's such low volume.

I wonder if this is a kind of DOS against Bitcoin itself.

Someone with enough USD and BTC on the exchanges could create an artificial situation like this and pull the plug either way whenever they feel like it.

This. These walls are way too coordinated.

Who would be selling right now, when Bitcoin is so obviously getting geared up to go?

ManBearPig

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"Don't go in the trollbox, trollbox, trollbox"

Bid pressure is surely but slowly rising. Jump up to a channel around $127 in a couple of days?

samson

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These askwalls and bidwalls seem far too high considering there's such low volume.

I wonder if this is a kind of DOS against Bitcoin itself.

Someone with enough USD and BTC on the exchanges could create an artificial situation like this and pull the plug either way whenever they feel like it.

icekiss

member

Activity: 70

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Quote from: Zephir on May 22, 2013, 02:09:01 PM

I don´t believe that the price on bitstamp, drop back to 117.xx, with this buying pressure right now.

There is lots of buying pressure, right. But it can't move the price, and at some point the buyers are out of fiat. Then its the turn of the sellers again (just the nature of every exchange ever Wink

), which will move the price (simply because the ask walls are way weaker). This equation only changes if mt.gox rises significantly, amplifying the buying pressure.

Quote from: dexX7 on May 22, 2013, 02:11:07 PM

Quote from: icekiss on May 22, 2013, 02:05:26 PM

I just don't see bitstamp rising much higher at the moment, not even to 120.
The problem bitstamp has is that while it is rising (as you described), mt.gox is falling (ever since that 1000BTC ask wall appeared, there has been downward pressure). And while bitstamp has been getting stronger - they are sustaining about the same volume as mt.gox at the moment Shocked

- they still can't defy mt.gox price leadership endlessly. Not when there is a huge mountain of BTC to buy up at the same time...

We are falling? Didn't really watch, but we are between 122-123 more than 4 hours.

from 123.5 to 122.5. So "falling" is really saying too much. But yes, there is downward pressure. The price just can't really fall because of the bid walls, same as bitstamp can't rise because of ask walls (though to be fair, there is much more fiat on mt.gox, so movement is easier there then on bitstamp a.t.m.).

By the way, did anyone notice that in the last days we often had bitstamp and mt.gox pulling in different directions? Like right now mt.gox is pulling down while bitstamp is pulling up? Wonder when for the first time bitstamp will win and mt.gox follows... Roll Eyes

dexX7

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Quote from: icekiss on May 22, 2013, 02:05:26 PM

I just don't see bitstamp rising much higher at the moment, not even to 120.
The problem bitstamp has is that while it is rising (as you described), mt.gox is falling (ever since that 1000BTC ask wall appeared, there has been downward pressure). And while bitstamp has been getting stronger - they are sustaining about the same volume as mt.gox at the moment Shocked

- they still can't defy mt.gox price leadership endlessly. Not when there is a huge mountain of BTC to buy up at the same time...

We are falling? Didn't really watch, but we are between 122-123 more than 4 hours.

icekiss

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Quote from: Miz4r on May 22, 2013, 02:02:06 PM

What plans? Continually sell at 118.xx and buy again at 117.xx to lower your fee cost? Tongue

Hey, if you can reliably rebuy at 1.5 below what you sold, making 1$/BTC profit, you can raise the number of bitcoins you own. Whats wrong with that? Wink

Of course, the catch word is "reliably" - if you have to rebuy higher half of the time, the strategy isn't working.

Zephir

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Quote from: Miz4r on May 22, 2013, 02:02:06 PM

Quote from: Coinseeker on May 22, 2013, 01:56:44 PM

Quote from: icekiss on May 22, 2013, 01:51:12 PM

Well, I have just (20 Minutes ago) sold my BTC on bitstamp at 118.97, looking how its a high for bitstamp in the last days, and mt.gox is relatively low (119 to 122.5 is a price difference of only 3.5).

Time will tell me (quite shortly) whether it was wise, as I can rebuy cheaper, or dumb because I have to buy in again at the same price.
The good thing is that the price can't really run away (since there are endlessly many sell offers before it reaches 120). Wink

My plans are ruined at BitStamp for the moment. Guess I'll just sit back and watch. Undecided

2800 BTC before we go over 120. Buy wall is growing slightly and the ask wall is coming down.

What plans? Continually sell at 118.xx and buy again at 117.xx to lower your fee cost? Tongue

I don´t believe that the price on bitstamp, drop back to 117.xx, with this buying pressure right now.

Piper67

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Quote from: ?? on ??

Quote from: Coinseeker on May 22, 2013, 12:15:19 PM

Quote from: Its About Sharing on May 22, 2013, 12:03:29 PM

Quote from: Coinseeker on May 22, 2013, 10:26:28 AM

Quote from: thoughtfan on May 22, 2013, 10:16:00 AM

No, it's just that some of us prefer more a considered use of words than just slapping them around. The pity is that you actually add quite constructively to the discussion now and then otherwise I'd just have you on ignore all the time but it's a high price to pay to read through this kind of stuff to get to the odd useful bit.

I wasn't at the convention and of course there were people there paying for their service to get noticed and bigging up their own products and services but from what I understand of the videos and write-ups I've seen it was very much about what is happening. So if someone says 'We added 1,900 in April' what do you want to 'see'? Their proof? If someone says 'We have partnered with x and are providing this service' do you actually need to try out the service for yourself before you believe they're doing it?

Look, you're really blowing this way out of proportion. The convention just ended. All I said was "I" wasn't putting much stock into it at this point. Me...not anyone else, I didn't try to lead people to think as I do, I simply said "I" and especially as it relates to the current price. Whether or not the convention was a success, is something I personally will determine over the next coming weeks. Again, "I" don't think it's going to have any immediate effect on the price or volume and to this point, it hasn't.

If you are going to quote yourself at least get it right, you said this "That's the entire purpose of a conference, is to make people think "things are happening". "
And that is a big smack in the face of a lot of people and I doubt anyone on these boards appreciates it.

That IS the purpose. It's a sales show. A facade. A sales prop and you of all people should know I could careless what people on these boards think. It's not my fault you guys don't know what a convention is. You drink the Kool-Aid...I know what's up. And in the coming weeks, we'll see if this song and dance has any positive benefit.

One last point...BFL was at the convention. Anyone get their units yet? Exactly...it's a song and dance. It's means nothing, in and of itself. Now, go change your panties.

I couldn't help notice the following statement: "I could careless what people on these boards think"

1st observation: it's care less not careless
2nd observation: if you don't care what people think, then why are you posting on a forum? I mean, it's not like you're here to people watch... :/

just saying...

3rd observation (since we're doing this): it's really I couldn't care less... if you could care less, it means something is so important to you that you couldn't care more. Yeah, double negatives are a bitch, but there's logic to them Grin

icekiss

member

Activity: 70

Merit: 10

I just don't see bitstamp rising much higher at the moment, not even to 120.
The problem bitstamp has is that while it is rising (as you described), mt.gox is falling (ever since that 1000BTC ask wall appeared, there has been downward pressure). And while bitstamp has been getting stronger - they are sustaining about the same volume as mt.gox at the moment Shocked

- they still can't defy mt.gox price leadership endlessly. Not when there is a huge mountain of BTC to buy up at the same time...

adamstgBit

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Activity: 1904

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Trusted Bitcoiner

Quote from: dexX7 on May 22, 2013, 01:53:17 PM

Sorry, pure offtopic, but here is a very cool video about mining and Bitcoin. Cheesy

"mining gets harder every 10 minutes" statement is a bit off though.

http://www.academicearth.org/electives/internet-knows-bitcoin/

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Miz4r

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Activity: 1246

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Quote from: Coinseeker on May 22, 2013, 01:56:44 PM

Quote from: icekiss on May 22, 2013, 01:51:12 PM

Well, I have just (20 Minutes ago) sold my BTC on bitstamp at 118.97, looking how its a high for bitstamp in the last days, and mt.gox is relatively low (119 to 122.5 is a price difference of only 3.5).

Time will tell me (quite shortly) whether it was wise, as I can rebuy cheaper, or dumb because I have to buy in again at the same price.
The good thing is that the price can't really run away (since there are endlessly many sell offers before it reaches 120). Wink

My plans are ruined at BitStamp for the moment. Guess I'll just sit back and watch. Undecided

2800 BTC before we go over 120. Buy wall is growing slightly and the ask wall is coming down.

What plans? Continually sell at 118.xx and buy again at 117.xx to lower your fee cost? Tongue

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: icekiss on May 22, 2013, 01:51:12 PM

Well, I have just (20 Minutes ago) sold my BTC on bitstamp at 118.97, looking how its a high for bitstamp in the last days, and mt.gox is relatively low (119 to 122.5 is a price difference of only 3.5).

Time will tell me (quite shortly) whether it was wise, as I can rebuy cheaper, or dumb because I have to buy in again at the same price.
The good thing is that the price can't really run away (since there are endlessly many sell offers before it reaches 120). Wink

My plans are ruined at BitStamp for the moment. Guess I'll just sit back and watch. Undecided

2800 BTC before we go over 120. Buy wall is growing slightly and the ask wall is coming down.

dexX7

legendary

Activity: 1106

Merit: 1026

Sorry, pure offtopic, but here is a very cool video about mining and Bitcoin. Cheesy

"mining gets harder every 10 minutes" statement is a bit off though.

http://www.academicearth.org/electives/internet-knows-bitcoin/

icekiss

member

Activity: 70

Merit: 10

Well, I have just (20 Minutes ago) sold my BTC on bitstamp at 118.97, looking how its a high for bitstamp in the last days, and mt.gox is relatively low (119 to 122.5 is a price difference of only 3.5).

Time will tell me (quite shortly) whether it was wise, as I can rebuy cheaper, or dumb because I have to buy in again at the same price.
The good thing is that the price can't really run away (since there are endlessly many sell offers before it reaches 120). Wink

Its About Sharing

legendary

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Antifragile

Quote from: farfiman on May 22, 2013, 01:33:57 PM

Quote from: adamstgBit on May 22, 2013, 01:08:30 PM

often i find myself wishing bitcoin would crash hard so i could buy like a mad fool again Cheesy

because lots of us have that idea, it will never crash to the levels you wish - unless bitcoin fundamentals
are done with.

I don't have any worries about fundamentals. One worry that quite a few people have however is an outright attack by government. As stated on the recent (#8) "Let's talk BTC podcast" if an attack is to be successful, it needs to happen relatively soon. Before we know it (my guess is by late this year, early next) BTC use is going to be much much bigger than currently. The bigger it's acceptance into mainstream the smaller its chances of stoppage. Even if they came after it now (and I don't mean some minor FinCen stuff) it would still continue I'm sure, but it would really hurt things.

Anyway, for a real big attack to happen it would have to involve something quite strong/profound/etc. and I just don't see that happen. There just isn't a reason for that and it is hard to imagine something in the way of justification. The bankers have enough on their hands propping up collapsing currencies. Really, BTC is rather a compliment in the short term, but then again, maybe banksters don't want recovery?

telemaco

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Quote from: dexX7 on May 22, 2013, 01:34:54 PM

Quote from: telemaco on May 22, 2013, 01:23:18 PM

leverage? not sure that is for me. I have a lot to learn yet and a special ability to sell low and buy high.

You said you use a stop-loss. I was indirect asking: where do you trade and put a stop loss.

Oh, I have a small bot.

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: phoenix1 on May 22, 2013, 01:35:05 PM

Quote from: ?? on ??

I couldn't help notice the following statement: "I could careless what people on these boards think"

1st observation: it's care less not careless
2nd observation: if you don't care what people think, then why are you posting on a forum? I mean, it's not like you're here to people watch... :/

just saying...

An observation

If you're going to be a pedant at least get it right ...

Its 'I couldn't care less'

2nd 'observation' of yours makes no sense to me ... people have a multitiude of reasons for reading and posting on forums

Just saying Grin

adamstgBit

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Trusted Bitcoiner

Quote from: wachtwoord on May 22, 2013, 01:23:38 PM

Quote from: Frozenlock on May 22, 2013, 01:15:06 PM

Quote from: adamstgBit on May 22, 2013, 01:08:30 PM

often i find myself wishing bitcoin would crash hard so i could buy like a mad fool again Cheesy

It was at $266.
When is this considered a buying opportunity? Cheesy

I bought some at $80 but that is way higher than I paid for most of my Bitcoins and way higher than it was only a few short months ago. Give it some time

I got a few more at 80 too, not as much as i should have
I always make the same mistake, i never send enough funds!
Cheesy

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