Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33409.

molecular

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Activity: 2772

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Quote from: Piper67 on May 10, 2013, 10:37:35 AM

Quote from: lebing on May 10, 2013, 10:34:01 AM

Quote from: molecular on May 10, 2013, 10:26:11 AM

Quote from: fourkey2001 on May 10, 2013, 10:02:42 AM

If BTC wants to reach out to the average middle class out there it needs to value itself at $30-50

Hm? What is this?

Would you say gold is too expensive, middle class should buy silver instead because it's cheaper?

A bit (or mBTC) is still only 12 cents. Cheap enough for the middle class to buy?

I admire your patience.

Yeah, molecular, what's the point in ignoring the troll if you're going to quote him anyway... Nevertheless, your patience is admirable Cheesy

oops. well, I'm at work and I can't read the whole thread (it's become quite impossible anyway, wanted to lower my time-wasting). Only clicking on last 1 or 2 pages (skipping 20-30 at a time) recently.

Didn't notice he was trolling us.

molecular

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Activity: 2772

Merit: 1019

Quote from: glendall on May 10, 2013, 10:35:31 AM

Whew well that was an awesome frenzy morning to wake up to.

Had my sell orders in last night for 121.33 at Gox.

Looks like that was the perfect place to be... high-fiving myself...

that might be a little premature.

Richy_T

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Activity: 2534

Merit: 2245

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: SlipperySlope on May 10, 2013, 09:06:32 AM

Here is the next triangle.

Uh, no.

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: DougTanner on May 10, 2013, 10:30:27 AM

Quote from: oda.krell on May 10, 2013, 10:25:25 AM

I really hope this upward breakout didn't come as a huge surprise to anybody. I understand that there is still a lot of - justified - reservation about the question if the post-bubble correction is really over, and users like evolve and slipperyslope certainly like to remind us of that reservation on a daily basis (no offense. I appreciate the posts of you guys), but any serious look at the recent order book totals, the money flow of the past 6 days, or the sentiment on this forum ("I'm gonna buy *so hard* once price hits 90") should have convinced you that, at least short term, the only way was up. What will happen in a longer time frame, next weeks/months, is another question.

I concur. The absolute deluge of good news over the past week didn't hurt either.

I'm happy for you bulls who guessed right coming out of this "consolidation", if that's what it was. But let's be real, we're talking a less than 10 point jump here. Not exactly earth shattering and certainly not enough at this point to blindly believe it wont fall right back down. I don't see anything fundamentally different other than the bots coming back online.

Piper67

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Activity: 1106

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Quote from: lebing on May 10, 2013, 10:34:01 AM

Quote from: molecular on May 10, 2013, 10:26:11 AM

Quote from: fourkey2001 on May 10, 2013, 10:02:42 AM

If BTC wants to reach out to the average middle class out there it needs to value itself at $30-50

Hm? What is this?

Would you say gold is too expensive, middle class should buy silver instead because it's cheaper?

A bit (or mBTC) is still only 12 cents. Cheap enough for the middle class to buy?

I admire your patience.

Yeah, molecular, what's the point in ignoring the troll if you're going to quote him anyway... Nevertheless, your patience is admirable Cheesy

glendall

legendary

Activity: 2156

Merit: 1018

Buzz App - Spin wheel, farm rewards

Whew well that was an awesome frenzy morning to wake up to.

Had my sell orders in last night for 121.33 at Gox.

Looks like that was the perfect place to be... high-fiving myself...

Richy_T

legendary

Activity: 2534

Merit: 2245

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: Piper67 on May 10, 2013, 08:25:49 AM

Quote from: phoenix1 on May 10, 2013, 08:14:29 AM

Quote from: fitty on May 10, 2013, 08:12:18 AM

Hey Bears! *knock knock*

Is it just me or does it look like rpietila flying through the door of the plush hotel ? Tongue

Can't be... where's the limo?

lebing

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Activity: 1288

Merit: 1000

Enabling the maximal migration

Quote from: molecular on May 10, 2013, 10:26:11 AM

Quote from: fourkey2001 on May 10, 2013, 10:02:42 AM

If BTC wants to reach out to the average middle class out there it needs to value itself at $30-50

Hm? What is this?

Would you say gold is too expensive, middle class should buy silver instead because it's cheaper?

A bit (or mBTC) is still only 12 cents. Cheap enough for the middle class to buy?

I admire your patience.

Quantum_Negatum

member

Activity: 84

Merit: 10

Quote from: DougTanner on May 10, 2013, 10:30:27 AM

Quote from: oda.krell on May 10, 2013, 10:25:25 AM

I really hope this upward breakout didn't come as a huge surprise to anybody. I understand that there is still a lot of - justified - reservation about the question if the post-bubble correction is really over, and users like evolve and slipperyslope certainly like to remind us of that reservation on a daily basis (no offense. I appreciate the posts of you guys), but any serious look at the recent order book totals, the money flow of the past 6 days, or the sentiment on this forum ("I'm gonna buy *so hard* once price hits 90") should have convinced you that, at least short term, the only way was up. What will happen in a longer time frame, next weeks/months, is another question.

I concur. The absolute deluge of good news over the past week didn't hurt either.

There is almost no correlation between good/bad news and up/down price. There is however a very strong correlation with volatility and an upward trend when Gox let's the bots do as they please.

DougTanner

sr. member

Activity: 280

Merit: 250

Quote from: oda.krell on May 10, 2013, 10:25:25 AM

I really hope this upward breakout didn't come as a huge surprise to anybody. I understand that there is still a lot of - justified - reservation about the question if the post-bubble correction is really over, and users like evolve and slipperyslope certainly like to remind us of that reservation on a daily basis (no offense. I appreciate the posts of you guys), but any serious look at the recent order book totals, the money flow of the past 6 days, or the sentiment on this forum ("I'm gonna buy *so hard* once price hits 90") should have convinced you that, at least short term, the only way was up. What will happen in a longer time frame, next weeks/months, is another question.

I concur. The absolute deluge of good news over the past week didn't hurt either.

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: Quantum_Negatum on May 10, 2013, 10:22:57 AM

Quote from: Quantum_Negatum on May 09, 2013, 09:06:33 PM

Quote from: adamstgBit on May 09, 2013, 09:05:23 PM

Quote from: Quantum_Negatum on May 09, 2013, 09:02:53 PM

It's not just the low volume that scares me. This coincided with Gox restricting and/or disabling bots. It appears that not only do the bots move walls to control the price, but they are also responsible for most of the volume.

link?

There are some reports earlier in the thread by users who had bots disabled/restricted. I'll try to find.

Not surprising though. Gox has previously posted on facebook or twitter that they temporarily restricted the bots after a DDOS attack. I believe this was done shortly after the engine upgrade in April. Similar to the present situation, those restrictions also resulted in low volume and stagnant price.

*edit*

some reports around p 337. https://bitcointalksearch.org/topic/m.2087032

For this who missed it. ^

This will probably be the new trend following DDOS attacks. No more panic sells. Rather, Gox disables bots. Price and volume doesn't move until they are re-enabled. Then the pumping and dumping continues.

This is probably a very accurate statement.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: fourkey2001 on May 10, 2013, 10:02:42 AM

If BTC wants to reach out to the average middle class out there it needs to value itself at $30-50

Hm? What is this?

Would you say gold is too expensive, middle class should buy silver instead because it's cheaper?

A bit (or mBTC) is still only 12 cents. Cheap enough for the middle class to buy?

oda.krell

legendary

Activity: 1470

Merit: 1007

I really hope this upward breakout didn't come as a huge surprise to anybody. I understand that there is still a lot of - justified - reservation about the question if the post-bubble correction is really over, and users like evolve and slipperyslope certainly like to remind us of that reservation on a daily basis (no offense. I appreciate the posts of you guys), but any serious look at the recent order book totals, the money flow of the past 6 days, or the sentiment on this forum ("I'm gonna buy *so hard* once price hits 90") should have convinced you that, at least short term, the only way was up. What will happen in a longer time frame, next weeks/months, is another question.

Richy_T

legendary

Activity: 2534

Merit: 2245

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: ManBearPig on May 10, 2013, 06:07:09 AM

Quote from: myself on May 10, 2013, 06:00:59 AM

more wall.jpg and less text

Pardonnez-moi? I prefer PNG myself but what the hey.

Reach little Bitcoin, reach.

I was thinking that the bubble may have "paused" the growth, thus we might expect a line parallel to but slightly lower than the previous line for ongoing growth.

Quantum_Negatum

member

Activity: 84

Merit: 10

Quote from: Quantum_Negatum on May 09, 2013, 09:06:33 PM

Quote from: adamstgBit on May 09, 2013, 09:05:23 PM

Quote from: Quantum_Negatum on May 09, 2013, 09:02:53 PM

It's not just the low volume that scares me. This coincided with Gox restricting and/or disabling bots. It appears that not only do the bots move walls to control the price, but they are also responsible for most of the volume.

link?

There are some reports earlier in the thread by users who had bots disabled/restricted. I'll try to find.

Not surprising though. Gox has previously posted on facebook or twitter that they temporarily restricted the bots after a DDOS attack. I believe this was done shortly after the engine upgrade in April. Similar to the present situation, those restrictions also resulted in low volume and stagnant price.

*edit*

some reports around p 337. https://bitcointalksearch.org/topic/m.2087032

For this who missed it. ^

This will probably be the new trend following DDOS attacks. No more panic sells. Rather, Gox disables bots. Price and volume doesn't move until they are re-enabled. Then the pumping and dumping continues.

Quantum_Negatum

member

Activity: 84

Merit: 10

Quote from: Quantum_Negatum on May 10, 2013, 10:12:34 AM

Quote from: Quantum_Negatum on May 10, 2013, 01:47:07 AM

Looks like the 0.500 bot is back online....

Posted the above at 12:47:07 AM CST. Just before the price started to climb.

As soon as the bots came back online the pumping continued. Big surprise. Some people will never learn.

I see the 0.0123 bot is quite active this morning...

Richy_T

legendary

Activity: 2534

Merit: 2245

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: ?? on ??

No offense but if you don't hold it, you don't own it. I would never buy paper silver or let someone else watch my silver.

+1. Maybe as a hedge against inflation but there are better investments for that too.

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: fourkey2001 on May 10, 2013, 10:02:42 AM

If BTC wants to reach out to the average middle class out there it needs to value itself at $30-50

From a trading perspective yes, but average people aren't looking to trade. Your average person will take an even exchange rate for convenience and low transaction fees, on everyday purchases.

Quantum_Negatum

member

Activity: 84

Merit: 10

Quote from: Quantum_Negatum on May 10, 2013, 01:47:07 AM

Looks like the 0.500 bot is back online....

Posted the above at 12:47:07 AM CST. Just before the price started to climb.

As soon as the bots came back online the pumping continued. Big surprise. Some people will never learn.

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: Ultraviolet on May 10, 2013, 09:37:05 AM

Only way Bitcoin fails is if governments seriously saboteur it by preventing banks from processing fiat transactions in relation to it, but the gamble is that once the establishment tries to assault Bitcoin, the counter force and backlash will serve to propel Bitcoin to the level of a household name and away we go.

This didn't work out to well for online poker. If major government intervention happens as you describe...SELL, SELL, SELL.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33409. (Read 26462349 times)