Wall Observer - MtGoxUSD wall movement tracker - page 474.

molecular

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Activity: 2772

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Quote from: TomRado on March 19, 2013, 01:12:49 PM

Unfortunately as the overall supply of new coins diminishes, nobody would want to do that, as other parties would probably buy and hold. In conclusion, we might always have to pay a large premium when shuffling large amounts of fiat through btc., be it because of fluctuation or uncertainty in price or due to costs related to the circumvention of money laundering regulations. The question is: will that be cheapter than what we do today? How much is not having to trust anybody in the middle worth?

I don't quite understand your thinking. Why not just use Bitcoin as money?

The-Real-Link

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Activity: 533

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Nice to wake up to a continued rally. Crazy.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: TomRado on March 19, 2013, 12:52:53 PM

Quote from: justusranvier on March 19, 2013, 12:46:47 PM

Quote from: fcmatt on March 19, 2013, 12:39:22 PM

It is different this time!

Yes and no.

The ability to transfer arbitrary amounts of currency to anyone on the planet quickly and without prior restraint is a new capability humans have never experienced before. There is a large pent up demand for this capability.

Of course the same rules of supply and demand apply to Bitcoin as much as they apply to anything else.

We will have to see about the "arbitrary". If if want to convert 1Mio$ to BTC send it over and my friend on the other side wants to convert it back to $, what would happen to the Market? High volatility, trading bots possibly eating way more than the transaction fee and so forth.
We need somebody to pump way more liquidity in before this can get to be useful on a larger scale.

That's exactly what's happening.

Liquid

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Activity: 826

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Crypto Somnium

mp420

hero member

Activity: 501

Merit: 500

Damn it. My emergency intra-day spike catcher ask was missed by 2 cents.

Might as well remove it now.

robocoin

sr. member

Activity: 252

Merit: 250

Quote from: Ozymandias on March 19, 2013, 03:42:38 PM

Quote from: mccorvic on March 19, 2013, 03:26:08 PM

Quote from: robocoin on March 19, 2013, 03:22:55 PM

People get those religious feelings about money here, don't touch them at the wrong place. lol Always pretend to hold, or some Bitcoin Hitler will kick you.

Bitcoin Hitler won't need to kick you, as those who sell low will just be kicking themselves.

What if those people ARE Bitcoin Hitler? The plot thickens...

I feel busted Cheesy

Ozymandias

sr. member

Activity: 644

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Quote from: mccorvic on March 19, 2013, 03:26:08 PM

Quote from: robocoin on March 19, 2013, 03:22:55 PM

People get those religious feelings about money here, don't touch them at the wrong place. lol Always pretend to hold, or some Bitcoin Hitler will kick you.

Bitcoin Hitler won't need to kick you, as those who sell low will just be kicking themselves.

What if those people ARE Bitcoin Hitler? The plot thickens...

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Quote from: mccorvic on March 19, 2013, 03:26:08 PM

Quote from: robocoin on March 19, 2013, 03:22:55 PM

People get those religious feelings about money here, don't touch them at the wrong place. lol Always pretend to hold, or some Bitcoin Hitler will kick you.

Bitcoin Hitler won't need to kick you, as those who sell low will just be kicking themselves.

+1

mccorvic

hero member

Activity: 518

Merit: 500

Quote from: robocoin on March 19, 2013, 03:22:55 PM

People get those religious feelings about money here, don't touch them at the wrong place. lol Always pretend to hold, or some Bitcoin Hitler will kick you.

Bitcoin Hitler won't need to kick you, as those who sell low will just be kicking themselves.

robocoin

sr. member

Activity: 252

Merit: 250

Quote from: Herodes on March 19, 2013, 02:29:43 PM

Quote from: rebuilder on March 19, 2013, 02:21:11 PM

Anyway, sometimes people just want to cash out a bit. 50+ USD per bitcoin probably seems like a good point to sell a few if you bought in, say, end of 2010 or thereabouts.

Or if you bought at yesterday, woke up today and see the price is over 50, probably some folks would be happy with that profit and sell out.

People get those religious feelings about money here, don't touch them at the wrong place. lol Always pretend to hold, or some Bitcoin Hitler will kick you.

Herodes

hero member

Activity: 868

Merit: 1000

Quote from: rebuilder on March 19, 2013, 02:21:11 PM

Quote from: Mushoz on March 19, 2013, 02:10:11 PM

Not to mention those sells near the bottom were most likely 30 minutes old anyway. Gox lag Sad

The lag didn't seem anywhere near that bad this time.

Anyway, sometimes people just want to cash out a bit. 50+ USD per bitcoin probably seems like a good point to sell a few if you bought in, say, end of 2010 or thereabouts.

Or if you bought at yesterday, woke up today and see the price is over 50, probably some folks would be happy with that profit and sell out.

rebuilder

legendary

Activity: 1615

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Quote from: Mushoz on March 19, 2013, 02:10:11 PM

Not to mention those sells near the bottom were most likely 30 minutes old anyway. Gox lag Sad

The lag didn't seem anywhere near that bad this time.

Anyway, sometimes people just want to cash out a bit. 50+ USD per bitcoin probably seems like a good point to sell a few if you bought in, say, end of 2010 or thereabouts.

Mushoz

hero member

Activity: 686

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Bitbuy

Quote from: TomRado on March 19, 2013, 02:08:23 PM

Quote from: humanitee on March 19, 2013, 02:01:25 PM

I really don't disagree with you. Going over $62 is not guaranteed. I just thought sellers were being a little emotional selling after a $7 drop had already taken place. They were just hoping for some more down action to take profits on when the downmove was almost finished. We definitely overextended for a moment, but after the $7 drop I was lol'ing at their bear hopes.

I think there isn't any bear hope behind those motions. Bots see a high spread and volatility and try to make a profit. Why not sell at 56 when you can buy back in at 55? That's +EV. I believe there might be quite a few people around that made more than 52->60 today.

Not to mention those sells near the bottom were most likely 30 minutes old anyway. Gox lag Sad

TomRado

newbie

Activity: 28

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Quote from: humanitee on March 19, 2013, 02:01:25 PM

I really don't disagree with you. Going over $62 is not guaranteed. I just thought sellers were being a little emotional selling after a $7 drop had already taken place. They were just hoping for some more down action to take profits on when the downmove was almost finished. We definitely overextended for a moment, but after the $7 drop I was lol'ing at their bear hopes.

I think there isn't any bear hope behind those motions. Bots see a high spread and volatility and try to make a profit. Why not sell at 56 when you can buy back in at 55? That's +EV. I believe there might be quite a few people around that made more than 52->60 today.

humanitee

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Quote from: Mushoz on March 19, 2013, 01:53:39 PM

Quote from: humanitee on March 19, 2013, 01:36:07 PM

Quote from: Mushoz on March 19, 2013, 01:31:45 PM

Why? I'm sure people selling @ above 30 in 2011 are insanely happy they did. We just had a spike to 62, yes. But that is no guarantee we'll see 62 or above 62 for that matter again. Your logic is flawed, both of you.

Disclaimer: I'm long BTC and Bullish.

Really? Because it's back at $57.73. They could have already sold for more.
I'm pretty tired of people comparing this to 2011.

Keep being long bullbro.

I agree with you in that I also think that it's different this time from 2011, however, that doesn't mean other people can't have different opinions and views. No need to make fun of them, some people honestly think this is the top, and eventhough I think they are wrong, I can't blame them for thinking that. Remember 2011: the first day above 30 also closed below 30. Yet the day afterwards it went back above 30 before finally crashing down. If the same thing is happening right now, selling might not be such a bad idea.

I really don't disagree with you. Going over $62 is not guaranteed. I just thought sellers were being a little emotional selling after a $7 drop had already taken place. They were just hoping for some more down action to take profits on when the downmove was almost finished. We definitely overextended for a moment, but after the $7 drop I was lol'ing at their bear hopes.

The way they run to the bottom reminds me of some Carlin:

Quote from: George Carlin

[about businessmen] They don't even trust each other. They don't trust one another. When a businessman sits down to "negotiate a deal", the first he does is to automatically assume that the other guy is a complete, lying prick who's trying to fuck him out of his money. So he's got to do everything he can to fuck the other guy a little bit faster and a little bit harder.

Mushoz

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Activity: 686

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Bitbuy

Quote from: mccorvic on March 19, 2013, 01:51:55 PM

Quote from: humanitee on March 19, 2013, 01:36:07 PM

Quote from: Mushoz on March 19, 2013, 01:31:45 PM

Why? I'm sure people selling @ above 30 in 2011 are insanely happy they did. We just had a spike to 62, yes. But that is no guarantee we'll see 62 or above 62 for that matter again. Your logic is flawed, both of you.

Disclaimer: I'm long BTC and Bullish.

Really? Because it's back at $57.73. They could have already sold for more.
I'm pretty tired of people comparing this to 2011.

Keep being long bullbro.

That's pretty much my sentiment too.

Even though I'm super bull, my predictions are practically bearish to the outcomes. And if you sold for $30 because you wanted to buy a house with your proceeds, then cool. No one cares outside of us being happy for you.

What we ARE mocking are people like fcmatt and Proudhon (assuming he's just not engaging in some sort of long-run performance art) who sold because "This is the top and a bubble and lol better sell!" over and over and are wrong.

We are mocking people who post "Good thing I sold at $30 because there's no way it'll ever get higher" and then are wrong and get all butt hurt and try to somehow rewrite history to say they were in the right somehow.

I'm sure missing out on the recent rises is already bad enough for them, no need to mock them

Let's keep it friendly

Mushoz

hero member

Activity: 686

Merit: 500

Bitbuy

Quote from: humanitee on March 19, 2013, 01:36:07 PM

Quote from: Mushoz on March 19, 2013, 01:31:45 PM

Why? I'm sure people selling @ above 30 in 2011 are insanely happy they did. We just had a spike to 62, yes. But that is no guarantee we'll see 62 or above 62 for that matter again. Your logic is flawed, both of you.

Disclaimer: I'm long BTC and Bullish.

Really? Because it's back at $57.73. They could have already sold for more.
I'm pretty tired of people comparing this to 2011.

Keep being long bullbro.

I agree with you in that I also think that it's different this time from 2011, however, that doesn't mean other people can't have different opinions and views. No need to make fun of them, some people honestly think this is the top, and eventhough I think they are wrong, I can't blame them for thinking that. Remember 2011: the first day above 30 also closed below 30. Yet the day afterwards it went back above 30 before finally crashing down. If the same thing is happening right now, selling might not be such a bad idea.

mccorvic

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Activity: 518

Merit: 500

Quote from: humanitee on March 19, 2013, 01:36:07 PM

Quote from: Mushoz on March 19, 2013, 01:31:45 PM

Why? I'm sure people selling @ above 30 in 2011 are insanely happy they did. We just had a spike to 62, yes. But that is no guarantee we'll see 62 or above 62 for that matter again. Your logic is flawed, both of you.

Disclaimer: I'm long BTC and Bullish.

Really? Because it's back at $57.73. They could have already sold for more.
I'm pretty tired of people comparing this to 2011.

Keep being long bullbro.

That's pretty much my sentiment too.

Even though I'm super bull, my predictions are practically bearish to the outcomes. And if you sold for $30 because you wanted to buy a house with your proceeds, then cool. No one cares outside of us being happy for you.

What we ARE mocking are people like fcmatt and Proudhon (assuming he's just not engaging in some sort of long-run performance art) who sold because "This is the top and a bubble and lol better sell!" over and over and are wrong.

We are mocking people who post "Good thing I sold at $30 because there's no way it'll ever get higher" and then are wrong and get all butt hurt and try to somehow rewrite history to say they were in the right somehow.

humanitee

hero member

Activity: 1302

Merit: 502

Quote from: Mushoz on March 19, 2013, 01:31:45 PM

Why? I'm sure people selling @ above 30 in 2011 are insanely happy they did. We just had a spike to 62, yes. But that is no guarantee we'll see 62 or above 62 for that matter again. Your logic is flawed, both of you.

Disclaimer: I'm long BTC and Bullish.

Really? Because it's back at $57.73. They could have already sold for more.
I'm pretty tired of people comparing this to 2011.

Keep being long bullbro.

arklan

legendary

Activity: 1778

Merit: 1008

Quote from: mccorvic on March 19, 2013, 12:44:34 PM

Quote from: Chalkbot on March 19, 2013, 12:43:40 PM

When you guys inevitably decide to get together and feast on 1 BTC worth of pizza rolls, please invite me.

If I ever attend any sort of Bitcoin meetup or whatever, I'll be sure to do that!

i sure hope there's a LOT of people present...

Topic: Wall Observer - MtGoxUSD wall movement tracker - page 474. (Read 1811603 times)