Topic: Wall Observer - MtGoxUSD wall movement tracker - page 397. (Read 1811599 times)
Getting closer...
only 27000 coins to $100
Here comes the big show?
On bitcoinity..
Code:
531.87 a few seconds ago 79.000
On bitcoinity..
Everyone poised for a flash crash that may never come? That seems to mean:
1) Any downward moves will be instantly bought back up
2) Continuing upwards will soon trigger massive panic buying
In short, minimal downside risk, giant upside?
1) Any downward moves will be instantly bought back up
2) Continuing upwards will soon trigger massive panic buying
In short, minimal downside risk, giant upside?
That's how I'm choosing to read it.
Everyone poised for a flash crash that may never come? That seems to mean:
1) Any downward moves will be instantly bought back up
2) Continuing upwards will soon trigger massive panic buying
In short, minimal downside risk, giant upside?
1) Any downward moves will be instantly bought back up
2) Continuing upwards will soon trigger massive panic buying
In short, minimal downside risk, giant upside?
Holy crap.
Bids are creeping towards 10mil USD (WHAT?!) while the only action on the ask side are the walls that go up and down. The pressure here is immense.
Bids are creeping towards 10mil USD (WHAT?!) while the only action on the ask side are the walls that go up and down. The pressure here is immense.
Is it that all these people are pouring fiat into Gox and then just biding their time waiting for the price to dip so they can buy in at a "reasonable" price, as they may be used to doing with other assets? If the price instead marches relentlessly upward toward $100, will these same people start panic buying with their 10mil USD as they sense the train leaving the station?
That's the dream! The flash crash last Saturday also boosted their expectations of getting a "steal".
Holy crap.
Bids are creeping towards 10mil USD (WHAT?!) while the only action on the ask side are the walls that go up and down. The pressure here is immense.
Bids are creeping towards 10mil USD (WHAT?!) while the only action on the ask side are the walls that go up and down. The pressure here is immense.
Is it that all these people are pouring fiat into Gox and then just biding their time hoping for a dip so they can buy in at a "reasonable" price, as they may be used to doing with other assets?
If the price instead marches relentlessly upward toward $100, will these same people start panic buying with their 10mil USD as they sense the train leaving the station?
Is this the correct interpretation? Why are they so willing to bide their time? Because we've gone *more than* exponential recently?
For example, I have a silly bid for 900 BTC @ $0.02 active, just in case there is some crazy mtgox meltdown crash while I am sleeping.
Wouldn't Mt.Gox just roll back the trades they didn't like, like they did on the last meltdown?
No more wall at 79.
Exactly, just as the triangle that seems to be playing out is completing. I actually think we might have some Wallmakers attempting to create triangles! HAHAH! I'm going to make a rhombus.
Wow Bitcoin is so amazing it can even make rhombus'! Another world first!
No more wall at 79.
Exactly, just as the triangle that seems to be playing out is completing. I actually think we might have some Wallmakers attempting to create triangles! HAHAH! I'm going to make a rhombus.
No more wall at 79.
Exactly, just as the triangle that seems to be playing out is completing. I actually think we might have some Wallmakers attempting to create triangles! HAHAH! 
I may be mistaken but why do we have record bids all attempting to buy BTC lower than it's currently selling for ?
What are they waiting for ?
Is there some kind of strange procedure that people follow when purchasing ?
...
It doesn't sound right to me
What are they waiting for ?
Is there some kind of strange procedure that people follow when purchasing ?
...
It doesn't sound right to me
I think it's just an insurance policy. Not everyone can watch the markets 24/7, having a large buy order like that, well below the current trading price, is just insurance against a crash, guaranteeing you will get some of the action if the price does fall.
For example, I have a silly bid for 900 BTC @ $0.02 active, just in case there is some crazy mtgox meltdown crash while I am sleeping. Do I think it'll ever really be relevant? No, but I don't really have a strong reason to remove it either.
Bitcoin does not need to update to "keep up with the quantum revolution." It is not reliant on large numbers being hard to factor.
+1 no quantum computer can solve RIPEMD-160(SHA-256) ... IMPOSIBLE
The speaker says that ECDSA is not susceptible to QCs -- that's just wrong. ECDSA is most definitely broken by QC's, as well as just most asymmetric crypto algorithms on which internet security relies. But Bitcoin is better prepared to deal with QCs than most other crypto systems: (1) if you never reuse addresses, then no one knows your public keys and thus there's nothing for a QC to solve. By the time someone gets your public keys, you've already spent the funds, (2) the crypto algorithms in Bitcoin can be changed to quantum-resistant ones. Given that we'll probably have two decades advance notice before QCs with enough qubits exist to even threaten Bitcoin, we'll have plenty of time to make the switch.
I am not an expert on these things, but I have seen this opinion expressed before by a few others.
It's resistant as long as the clients are designed not to reuse addresses, but there does exist the potential for quantum shenanigans via Bitcoin in its current form.
As long as you always use a new receiving address for each transaction the reference client is safe. Other wallets may or may not be safe.
What goes up, always came down... until Bitcoin. 
Oh I think Bitcoin might become one of the biggest bubbles ever, just give it 20 years.
Everything is possible. But travel in time (go into future and back) is much more easier than broke Bitcoin. ... new challenge
Bitcoin does not need to update to "keep up with the quantum revolution." It is not reliant on large numbers being hard to factor.
+1 no quantum computer can solve RIPEMD-160(SHA-256) ... IMPOSIBLE
The speaker says that ECDSA is not susceptible to QCs -- that's just wrong. ECDSA is most definitely broken by QC's, as well as just most asymmetric crypto algorithms on which internet security relies. But Bitcoin is better prepared to deal with QCs than most other crypto systems: (1) if you never reuse addresses, then no one knows your public keys and thus there's nothing for a QC to solve. By the time someone gets your public keys, you've already spent the funds, (2) the crypto algorithms in Bitcoin can be changed to quantum-resistant ones. Given that we'll probably have two decades advance notice before QCs with enough qubits exist to even threaten Bitcoin, we'll have plenty of time to make the switch.
I am not an expert on these things, but I have seen this opinion expressed before by a few others.
It's resistant as long as the clients are designed not to reuse addresses, but there does exist the potential for quantum shenanigans via Bitcoin in its current form.
What goes up, always came down... until Bitcoin.
Oh I think Bitcoin might become one of the biggest bubbles ever, just give it 20 years.
Wow, that 'll be one deep fall !
EDIT: Better answer: 'Daddy, what is a dollar? '
What goes up, always came down... until Bitcoin.
Oh I think Bitcoin might become one of the biggest bubbles ever, just give it 20 years.
What goes up, always came down... until Bitcoin.
Oh I think Bitcoin might become one of the biggest bubbles ever, just give it 20 years.
Indeed.
Remember kids, the longer Bitcoin operates, the more valid a store of wealth it becomes. The more "tests of time," so to speak, it will encounter.
What goes up, always came down... until Bitcoin.
Albeit eventually something better than Bitcoin will come out and the price will tank, or maybe not. Maybe it updates to keep up with the quantum revolution. That is easily 15 years or more away.
The more belief we get in the system, the more brilliant it shines.
Bitcoin does not need to update to "keep up with the quantum revolution." It is not reliant on large numbers being hard to factor.
+1 no quantum computer can solve RIPEMD-160(SHA-256) ... IMPOSIBLE
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