Topic: Wall Observer - MtGoxUSD wall movement tracker - page 608. (Read 1811611 times)

I think there's something to be gleaned from looking at this one; maybe more so if I jiggle the words around a bit which whilst it may take us away from what The Fool was saying, I think represents the position of some fools at least:

Greed is refusing to sell even when you believe an imminent big sell is likely.

Sayings such as 'All things must come to balance' and 'If it seems too good to be true it probably is too good to be true' etc. form part of the belief structure of many and so even if there are no rational reasons arising out of the fundamentals to believe the price will go down, if enough of the Bitcoin being held now is in the hands of people who believe this is unsustainable simply because the percentage profit 'feels too high', 'isn't right', 'can't be sustainable' etc. and yet they still hold onto their Bitcoin hoping against their 'better judgement' that it will keep going up then we really do have the makings of a 'crash' because these are the weak hands who are likely to panic sell even as the price plummets.

Whether this happens and how quickly and deeply it goes depends on the proportion of Bitcoins in the hands of those who think that way relative to the amount of fiat available to stronger hands to say 'thank you very much' and pick up the cheap coins   The ratio between the two may be one way of expressing what I see as the primary difference between today and 08 Jun 2011.

Statement: The Mt. Gox price of bitcoin will break the all time high of 31.91 USD in Febuary.
Link: http://betsofbitco.in/item?id=1233
Your side: Agree
Your profit: 92.31%

Goxxed ?

Done !

I'm surprised that is so little bids on that bet !

A nice and actual bet, If you're a speculator, just bet on it to hedge things

Someone is making MtGox Live dizzy again!  There were many small buys in quick succession.  I think we are seeing some new kind of HFT testing out the system (just a guess).



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Only 3125% from here

In my view its like today. If I tell you now that 1BTC will be worth 1000$ within 2 years, you might lol at me. Same thing for the guys in 2010 when they said something about 10$... A run to 50$, 100$... will let more EAs or even investors from nowadays, "cash out".

I would not say "all", but definitely they freaked out quite a bit: http://blockchain.info/charts/bitcoin-days-destroyed-min-year?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Perhaps then to test if the visible metric could accurately predict the price change of a given (LARGE) sized inflow, structure in a particular way?

Source to back up your generalizing statement?

Part of it might be that the early investors you speak of are all but cashed out.  I'm pretty close, and most of mine was gone around $1.  I never expected this level of adoption, not even back when it was 6 cents each; so I had been spending my stash the entire way.  Granted, there is no way that I could actually have *lost* value after a certain point, even if the coins I had left went to zero; but if I'm all but busted, who else is?

Wouldn't be to test market depth.  That's a visable metric.

.....But you didn't say Uncle!

On hitting over $33,That is just insane.We need a shuttle pic with bullhorns on the front,lol.

wooohooooo. I just got up... what a nice morning.

Also, I think adams account got hacked, he's talking bullish.

Spoken like a true perma-bull.
Welcome to the herd.

Thanks, caught that too. He moved it to $38.00, about 2.5k BTC.

Let me see if I can get it right, Adam:"Oh, I lost the bet, fuck it was so close! Adding insult to the injury is that I panic sold at $25.5, now all my play money is gone! Bitcoin, why are you so cruel to me? Wait for it, I still get some bitcoins in my paper wallet right?  So maybe someday the price will go to $1000/BTC then I will be.......RICH!!! YAY!! Fuck that bet, I am gonna turn bullish and scream 'BUY! BUY! BUY!' from now on! "

I wonder if the large jump over the old high was spontaneous enthusiasm, or a carefully controlled test by a government or investment bank to test market depth.

Dip. Then new money the following week.