'tis a valid point.

Has anyone actually looked at how often walls are eaten away as opposed to cancelled? I think the incidence would be very low.

Wall Observer
A free service brought to you by the bitcoin community

Whenever there is a significant change in market depth, please update this thread with a new depth chart, and a good price chart with some TA is also welcome, feel free to comment on these if you have something to worth contributing, ( if your post is not at all TA it will be deleted )

Posting guild lines:
 Please lets keep this thread clean. ( I will be removing any off topic posts )
 Do not post random comments on this thread, unless it is directly related to the last wall update (ex. The 20K ask was was NOT sold into, it was removed after being tested)
 When you post a chart please use bitcoincharts.com, mtgoxlive.com, btccharts.com or bitcoinity.com

---

as requested, i have started a new thread.
this thread is now a self-moderated topic.
I will try and keep this thread clean, with only facts, current trends, past price movements, depth charts, etc.
I promise to not delete post simply because i do not agree with the bearish TA.

thank you for your input!

Why I laugh when other people are screaming to move to other exchanges. Between bitcoin24 and now this, the smaller exchanges are just WAY more unsafe to store funds.

I don't understand why someone would want to keep the price down. There's clearly someone or a group of people keeping it below $100. They slammed 4-5k coins into the rally yesterday that reached 98.5 pushing it down to 93-94. Then put up 25k worth of asks from 94-100. Those weren't old sells, half of them were from 94-98.5 that was just eaten. We know those were real because 5-6 hours later half the wall disappeared and someone dumped 11k of coins in 15 seconds into the bid wall trying to push it back. They put up ask walls trying to keep it down at 87.

That failed but they're still heavily protecting 95-100. I just don't really see why.

1) It's greatly decreasing volatility.
2) It's stabilizing the price
3) The longer it stays here the more people will actually believe this is a legitimate value for bitcoins (I'm not saying it is or isnt) Which does make it easier to rally it up (above $100) and rally it back up when it goes lower (then $90). Hard to believe someone is investing 2-3-4M to cement the physiological value of BTC.

Very little of that has to do with greed or making money at least short term. If they were greedy or wanted to make money they would have let the rally run to 110-120-130 then slammed the coins into it then and made a lot more money. It was clearly a goal to keep it under $100.

Can it really be some white knight of Bitcoin trying to stabilize the markets? The only big player who has the coins, has the money, who cares about the long term health of Bitcoin and the market, is MtGox.

Clearly someone is manipulating the market. And their goal isn't making money, at least in the short term. I just can't really figure the why or who part out. =)

Of course not. Let us believe it is a few investors who sent millions of $ to mtgox because they just want to manipulate the price lol.

So if they ever want to withdraw their millions of $ they can either wait many days to withdraw all of it or buy bitcoins and be done in one day.....lol

"It must be a manipulator!" Lol

Yes guys it is a few millionaires sending their cash to a Japanese based bitcoin exchange and NOT to buy bitcoins.

I love the failed logic of the many noobs here.

Rofl lol omfg hahaha

 

I dunno man, those seem like some pretty good lines.  What is that? 8 point brush in maroon with radiused ends?  Nice.

I really regret being so bearish at one point, sold on every bear trap and the 32$ bet. LOL bitcoin

but it felt good taking some money out, cavitex send the cash the following morning. cavitex rules, but they should lower the fees to encourage more day trading... 

So you are coming after all...?   I was wanting you to come. I extended the stay to 5 nights (from original 3) for the same price. The weather is nice, and I managed to secure a white limo:



It is fine if this is sent to Smoothie wall observer thread. I submit.

1719.38   a few seconds ago   111.30


wow wow wow

did not see this post?   most of the wall was eaten....  

EDIT: okay maybe you dont know what it means.

1719 was eaten in just one go... there were other goes as well...

Damn, I was almost there!   If rontus had been working (fortunately he only works about 50 hours of 168 per week, and generally not on Saturdays, and even of his working time, I only give him authority to sell short about 30% of the time, so this is purely of theoretical interest now) he would certainly have smelled the trend change and managed to sell about BTC430 at an average price of $113.2. Then I would have told him to buy back at $103 (he is better in selling but my buyback levels are more spot on).

The 42,500mBTC profit would have enabled our lifestyle for several days...


Indeed we are. There are only so many bitcoins in the world, and a lowest class supernode is not a U.S. Administration of 100,000 skilled professionals, but an ordinary bloke who bought in any time before March 2013, and has some spare time, and knowledge of English, maths and history. Of course when we go up the ladder, there will be many rpietilas, and in the higher level Goat, MP and Winklewii.

Read the "supernode OP" for more info and comment where appropriate!


Why is it so offensive that I live in a classy hotel? The highest burn rate of $200k per month was last week, now I spend at about $50k per month. If I go home and eat noodles, my expenses still run at about $20-30k minimum, since I have staff. Most of the businessmen do, in the real world. Generally their expenses are much higher than mine. I am actually very stingy, compared to most of my friends.

If you think this is excessive for what I manage to accomplish, how about complaining about how your very own tax money is spent in Afghanistan with far less positive effect? I would say the difference is about 4 orders of magnitude, in other words 10,000 times more money totally wasted!

With a rather conservative price prediction for the following 3 months, I estimate a 100% per month increase, which would mean that per every BTC100, you make about $10k first month. A 3rd class supernode can quit eating noodles and start to live. A 2nd class supernode of BTC1,000 can do what I do, and I just await that the real big guys start to benefit the mankind with their stashes.

This is the reason I spend - to show that even a medium BTC-holder can do this! No reason to hate, rather you live up to your own standard, and I live up to mine. If you have at least BTC1,000 as I assume every 2012 or before has (unless he proves otherwise), you can do the same as I do, with ease. Why should I do all the work?? Every city needs at least one supernode, and I am here to help these becoming reality. It is one of the workshops in the summit.

Besides there is no "flooding of community". I post my theoretical observations to my own thread. Then I post my price predictions here, and every time I do, some April 14th troll speaks negatively of me. Then I correct the misunderstanding. In no way I am here to cause disturbance - the instant the OP wants me to go, I go - but we all know that actually a 3-month quarantine for all newbies is the real answer to the problem, pointing me is easy but not too smart.


How about the following:
- You escrow 100 bitcoins for my 1
- You write a 2013 $100,000 call option to your bitcoins, so that I can buy them from you anytime, by just sending you $10 million U.S. Dollars
- If I do not redeem your bitcoins before 31. December 2013, you get my 1 bitcoin as I lose the bet

This way everybody profits. Even if you lose, you get $10 million, and the rest of your bitcoins are worth even more. If I lose, I only lose 1 bitcoin, and I still have a lot (and they were not that valuable anyway.. )


My middle initial is A.

All this is going to happen in 3 months, I have written it in my diary (link in sig).

It is almost as if nobody actually reads it

- The utility will grow factorially (factorial growth >> exponential growth(!))
- The spread rate is inversely correlated with the number of current user

Oh right, walls...

So, about the 2 millions wall, when is it going to be lifted?

All i know is rpietila has fun. No matter what he is doing, at least he's taking the bull by the horns and doing something..

We need more people in the world like him.

But please remember that at times, 40% of this thread is metatalk about me, and the raison d'๊tre of this thread is to observe the walls that the wallmasters set up. There are other threads available, if you want to discuss my fundamental research in an atmosphere of dignity, or contempt.

No decisive movement yet, eh? Alright then, summary time. (sorry for the sloppy style, this is more or less stream of consciousness)

Ignoring the possibility of continuation of the horizontal trend (that'd be boring), what are arguments in favor of continuation of the correction, i.e. downwards trend (red line in my previous chart) vs. continuation of upwards trend (green line)

(1) forum sentiment: cautiously bullish ("I'll buy for sure when we get lower") seems to be quite prevalent

(2) post bubble, volume on the way down was significantly higher than on the way up. suggests selling pressure, but could also mean sellers are running out of ammo.

(3) EMAs: D1, H4 undecided (just crossed over from above), H1 still bearish, but tendency towards crossover from below.

(4) total trading volume (in USD) is maybe on the low end for what is necessary to support the long-term upwards trend. (pointed out by WackyWilly)

(5) re: converging trendlines, as pointed out by 100x, me, and others: post-bubble, bit more evidence for the downward trend (3 vs 2 points of contact)

(6) If supporting trend (green line in my chart) = January 9 long-term expon. trend, then we're a bit ahead, should be hitting 100 only mid-May.

(7) order book (yes, I know, fake walls everywhere): total bid/total ask: 105. average of price if all sold at current prices, all bought at current prices: 120.5

pro bull: 1, 7
pro bear: 2, 3, 4, 5, 6.

Hmmm... I don't like the way my own summary looks. My gut tells me we should be going up, but my little collection of evidence points to continuation of the correction.

/pseudoscience

re: 6. sure, pretty weak point, only relevant right now where we're a bit ahead.

re: 5. true. but, given current information, I'd say there's slightly more evidence for the downward trend than for the upwards one.

none of the points is really strong individually. I'm as undecided as anyone else here seems to be :/

OK, sorry for interrupting the flow.

The walls are still there.....unlike the trades....

You made me reflect about why i'm short on this market...

+1

It's not like there's much happening anyway, we'll all be on topic as soon as there is

If you know what i mean..
A Shoulder-Head-Shoulder formation....

This might be more suitable in a new/alternate thread.

I have updated my recent analysis (I can see why you guys have so much fun with this line drawing business)



While the tone is rather playful  , the general gist of the above chart holds some weight in my opinion

Buying or selling now is just a gamble.

How cool is it that the bearish highs and bullish lows have converged on the one month anniversary of the big crash from 266?

Mere coincidence or divine forces at work?

Triangle closing in 1 hour?^^ http://www.sierrachart.com/image.php?l=1368115576935.png

everyone wants to buy cheap and sell high, but 110 is not enough cheap buy and 113 isn't sell high

 

About 500k.

I'm guessing USD. If that was BTC then that would have triggered an explosion that would have blown out all the windows in Japan.

*lol* Sorry yeah USD. Was between 4-5k BTC purchase. Followed by about a 2.5k BTC purchase. Some pretty big buys.

This is starting to feel like the pre-bubble action. Consolidation, rise, consolidation. If we hang on around this price much longer, I'd expect another bump upwards.

If cheap coins don't materialize then the current price becomes cheap coins.

I will just tell you something: we were buying $15 coins in January - and still placing our bids below spot to get "cheap" coins during dips.

Just 5 months later we want "cheap" coins in the $70s... Or.... Well... $90ish is cheap enough.

Take your own conclusions

EDIT: if I was not clear enough, bitcoins are always preferable. Fiat's only use is to get cheap coins now that we can.

+1

I think the best way to look at the big picture is to ask yourself whether bitcoin will succeed or fail in the long term. Right now the hype is crazy, and for every person saying the price is going up, another is saying its going down. Hence why it is trading sideways.... no one knows!

I've been reading the old threads in this category, and the biggest losers are not those who stayed in while the price plummeted, it is those who listened to the bears, sold, and walked away! If you believe in a bright future for bitcoin, your best bet is to support it by buying BTC regularly, and spending them regularly! Much the same as you would support a company whose stock you own.

The biggest tests will come when the price falls dramatically and everyone is proclaiming that bitcoin is dead. Will you hold your ground, and buy more, or will you run for the hills as many have done in the last few years.

I know he isn't the most popular guy around here, but Warren Buffett has it right: "Be fearful when others are greedy, be greedy when others are fearful".

Just my 2 cents.

(aside: looks like I'm developing a habit to dig up older posts. oh well)

That's the million dollar question, I'd say. Here's a somewhat related observation I made during the last days:

Take the order book. (ignore for a moment the objection that some/many/all of the orders are fake). The last days saw a rather drastic increase of the bid sum/ask sum ratio (visualized nicely on blockchained). There's another calculation I make routinely, seeing how far the price would go in either directions if the entire bid sum or ask sum (or parts of it) were executed as market orders. Don't know if that technique has a fancy name (maybe 'market execution price'?), but it takes into account not only the order totals but also the price distribution.

Okay, here's the observation: the average of that execution price was rising even more sharply than the bid sum/ask sum ratio lately. Which means not only did more money enter the order book (and/or coins left it), but that order prices appreciated as well.

The conclusion I draw is that a big reason why we saw the current upward breakout is that a) new orders were placed (duh!), and b) buyers adjusted their existing orders after realizing that their overly optimistic price setting for entering the market won't be met anytime soon (less of a duh). And I suspect this trend will continue.

117.61 to 118.35

so boring

I would be surprised by too much action on this weekend.

I hope you're right because I see everyone here as early adopters and then there are the prehistoric adopters.    I don't want ANYONE to lose.  This whole convo is simply a glimpse of the sentiment of some not buying or waiting for lower prices.

I am disillusioned by just how much manipulation is going on ... it has not cost me anything, but it gives me less faith in Bitcoin and raises the risk premium

There's a big danger in comparing a model to historical data and assuming it will predict future performance.

The stock market is also a very different thing than it was in the 19th and most of the 20th century. Several orders of magnitude different.

Reading many of these comments just reminds me of the blind, ideological and delusional thinking of the Napster cults.  Faith is necessary I get that but some of this stuff is just craziness.  The more I read these forums, the shorter Bitcoins lifespan becomes to me.  I''m currently at 2 years tops.  That's not because Bitcoin is not awesome, it's simply that too many people behind it are irrational and lack common sense and logic.  

I plan to make as much as I can off of it while I can, but my sights are already set on the "iTunes" of crypto.

You really should just lurk more.

I know this is the Wall Observer thread so it comes with the territory, but many or most people here simply seem over-antsy. Few humans are psychologically equipped to follow day-to-day price changes without freaking out and losing money because of it. The tendency is to start reading into every little thing.

people could sell just because of being bored ...

With the mother of all triangles that closed in the last few days, I think this is relevant:


- Technical Analysis of Stock Trends

 

Here are the results of my recent (mtgox) order book calculations. As always, to be taken with a large grain of salt, since the order book is of course a primary tool for manipulation.

Apart from the obvious findings (rather big ask wall at 120; significant drop of bid/ask ratio over the weekend, from a peak of ~140 to ~120, now slightly going up again), the average of the 'all orders market execution price' is going up again, after going down about 10 USD over the weekend, indicating more bids/less asks and a better price composition. Finally, price composition in the range of the previous bid/ask totals also improved slightly, prices up about 2% compared to 12h ago.

Looks good to me. Word of caution though: with similar, in fact: even better values at the end of last week (my calculations showed a peak of the above values on the 10th), we barely passed 120, and not for long either. So I'm not exactly holding my breath that we're going to break 125 this week, although I'm not ruling it out either.

On the other hand, as I have posted multiple times now, as long as those metrics (and the related money flow metrics) don't substantially change in the coming days, I really don't see the potential for any sharp decline either.

I gave up on answering that particular question. Too many variables, too much uncertainty. My current lookahead is approximately 1 week, and not much further. And so far, indicators are good that this week will be positive or at least stable. That's good enough for me

Bitcoin is up because people saw the media attention and saw a way to get rich quick.  Nothing more, nothing less.

I didn't say anything about people walking away.  Although if markets tank it's almost certain you will see people move out of risky investments and into safer things like gold.

My point, while apparently not clearly spelled out, was that the recent rise in bitcoin is simply from all the media attention.  Yes, die hard bit coiners view Bitcoin as a store of wealth but the rest of real world market investors do not.  They view it as a purely speculative and very high risk investment.  Nothing more.  Simply put, people are not going to run in masses to stash money in Bitcoin because people do not trust Bitcoin.  That time may certainly come, but that time is not today.

What does that mean ?

Despite the fact that about $100k is scammed from me annually, plus I lost 1,100,000mBTC two weeks back and possibly more last week, the following statement is true:

"I have never possessed the private key to any less than 2,400,000mBTC nor any more than 35,000,000mBTC, at any time since the beginning of 2012."

I guess that puts me on the map. I think I was among the wealthiest people in the summit.

I missed the part where reptilia claimed that being wealthy makes him more of a human, and I also missed the part where reptilia claimed that the ever-elusive "it" is about "how wealthy you are."

But I guess if we're in the business of refuting made up claims, it's all good.

It is certainly funny how rpietila makes a point of mentioning his wealth, sometimes in appropriate context, sometimes not so much. But it's even funnier how so many people get offended by it and make inferences that are entirely inaccurate. "Reptilia thinks he's a more sparkly person than me because he's a n.nth class supernode... wtf NO! I am going to respond to his post with a refutation of the claim that I just made up in my head! GRR!"

Guys, stay on subject please.

Some people ...  just have to awake from their dream that everything is OK in their dreamworld.

UK taxmen, police and spies look at Bitcoin threat

http://www.ft.com/intl/cms/s/0/42ca6762-bbfc-11e2-82df-00144feab7de.html#axzz2TGEytQ2t

Bitcoin is a threat now!

Bitstamp usually follows every tiny move, but sometimes with a price offset, but you can't say it's always lower or higher than Gox. But it gets interessting to look at walls. Bitstamps ask side is so much stronger which lead me to the conclusion, that people trading on Gox are using Bitstamp for faster cashouts. And the price oscillation (i.e. the range 115-120 right now) is a bit higher. Overall my experience is good and I like the lower fees + SEPA times + support (which is fast, but I didn't have any real problems yet).

I recently had to verify my account. I'm hardly new. Registered 2011.

I am selling now..

Will buy after conference. I do not want to be in JAIL or accused of terrorism or illegal work!

citing an email that OkCupid co-founder Chris Coyne received from the DHS and posted in an online forum.

Can't believe any of you have still not 'ignored' fourkey ... please stop quoting him 

Just remember if the news is bad then it'll be too late to sell - if you are heavily invested in BTC it might not be a bad idea to sell some now and buy back in as there's a good chance it could be cheaper soon.

all this fear is so fail....

anyone that sold because of this new made a mistake...

This:

http://www.forbes.com/sites/kashmirhill/2013/05/15/the-feds-are-cracking-down-on-mt-gox-not-on-bitcoin/

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

I read somewhere else on this forum that Bitpay are probably in the same situation as MtGox with regards to this license.

Risky business, I'd hate to have my funds seized before they made it to a vendor !

Sorry, i know you're a serious guy & hate off-topic stuff in this thread, but there's not much to watch right now & I'll give you a bit of well-sourced FUD:
"Is Bitcoin a Ponzi scheme?
In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee."

Guess who's spreading this FUD?  That's right, https://en.bitcoin.it/wiki/FAQ, the Bitcoin WIKI

I think we are complicating things here, by "we" I mean you and a few others judging the severity of the DHS news.
First, regarding "not many options left" - that is just no longer true. MtGox is no longer the center of the BTC universe, though it is still too large. This news will actually help level things and probably open other doors.

Second, stability is a ways off. We are just starting the "government/banking" journey. This news was NOTHING. Really, they aren't even going after BTC. The reason being, there are no laws which allow them to do so. Governments at this stage are afraid to, and actually don't have a clue, as what to even define BTC as. I'm afraid, for them, it is just like Internet PII. They will just be too slow to react. The only thing they can hope for is to somewhat regulate it. The banks will push for that to a point. But, we are just too small to to much about. Stopping it, being that the world will likely support it (all the while having a float of less than 11 million BTC's) is not really an option at this point. It will continue to be attractive to too many people unhappy with the state of things.

Just look at the slowness of things. And, again, they are not even attacking BTC (maybe with words) but they are just making sure regulations are being followed. And the Dwolla Gox thing is really really gray. I mean MtGox spent, what? 25 million getting things in order in the last year for this? This screams of either being overblown or too little too late.

Anything is still possible, but unless the internet gets shut down or the like, we probably continue for months if not years before we see what can amount to anything huge. And by that time we will probably be too well established imo.

You overestimate the negative sentiment the masses have on financial institutions and governments.  Yes, everybody complains but most are content with what they have.  It's certainly not so drastic that people will go through the incredibly difficult processes of setting up wallets, getting money into the system, buying BTC and then finding a way to spend them, which we know are far and few between. 

Not to mention, Bitcoin is becoming a bad word associated with all things criminal much faster than it's becoming some "beacon of light" as it relates to currency.  It's highly volatile, it's clunky, difficult and confusing and it's absolutely vulnerable to far too many variables. Image is everything and Bitcoin is losing that battle.  It's attractive to diehards and high risk investors sure, but most of them have no clue what mainstream wants because they are completely out of the loop. 

Bitcoin is like Napster.  It has shown us the way but an "iTunes" is coming to do it right.  My guess is that's Ripple.  They have the advantage of being able to take the high road and separate themselves from the black market, money laundering stigmata that Bitcoin has developed, while still accepting Bitcoin as a currency.  This is good for Bitcoin and it's last gasp at mass adoption.  If the masses are more concerned with low transaction fees and ease of use, than they are having actual stores of wealth, the XRP will reign because an IOU will be sufficient. 

You've been here 3 weeks. Yesterday you informed us Bitcoin was illegal in almost every country. You've stopped quoting the Coinage Act of 1965? There's a reason your wife only let you buy 1.5 BTC, you're autistic and prone to wild flights of fancy.

You think this bump in the road is bad? Of course you do, you've been here 3 weeks. This was nothing.

My favorite Bitcoin growing pain was back in 2011 when Something Awful hacked the forum and trolled us with CosbyCoin. I suggest you slow down a little, stop educating us on how Bitcoin, Bitcoin PR, legal system, and life in general work. Take some notes, you'll learn a few things. Get back to us in a few months.

Yeah some people flipped out when their Bitcoins were being "converted" to CosbyCoins. There's people who think Bitcoin is a ponzi scheme right now, back in 2011 it was hard to generate any creditability. And when the main forum gets defaced with CosbyCoins it was sorta hard to take it seriously. Lots of hacks, lots of stolen coins, exchanges disappearing, bitcoin wallet sites getting hacked, MtGox getting hacked, lots and lots of bumps in the road.

But like this most recent DHS stuff, MtGox gets their shit in order, everyone else checks how they do business, things get more secure, Bitcoin keeps on keeping on.

We don't need Bitcoin, Bitcoin needs us and with Ripple, it's going to all be possible.

Man, this thread has been a ride through the mud the past dozen pages..

I wish coinseeker and Risto the best, may they overcome their hardships in due time.

Seems like bitcoin is doing just fine  

Keep on truckin' people!

Also, I would like to comment that it appears we are continuing as planned with the Great Consolidation phase I mentioned earlier:

That depends - currently I use my own equipment. But seriously guys, the whole idea is that this would be a period of rest for me. I have worked too hard, gotten irritated, and my behavior has not been up to the par. So now I will take a rest and mind my own business in calm quietness for days, weeks or months. They will tell me when I am clear to leave. Just forget about me, until I come public again. If everybody talks about me all the time, what difference does it even make whether I am here or not??


If somebody believes that I do not even exist, there is a good way to find out. If rontus does not appear to San Fransisco airport with flight SK3713 scheduled to land at 12:20 PST (in about 30 minutes from now, though I don't know or care if it's early or late), I am probably a bullshitter. If he does, but denies being my Ambassador-at-Large, I am a joker. If however he comes with Annina, who is a tall and beautiful lady, and they both tell stories about the Haikko Summit, and express their reverence towards me who sent them there (even though I was physically detained in an institution), you just have to believe me and leave me alone. Right? Please..?

No I know much ain't happening, I just thought I'd attempt to derail the tangent.

Rain? That works!

Ready... Set... RALLY!

rpietila - Hey brother, you keep on keeping on. Take care of yourself, get some rest and don't forget this is about change. Don't let the $$$ part stress you out. Our sites are bigger that that.

Heal up brotherman and enjoy this dream we call life,
It's about Sharing

The general bitcoiner sentiment over the last weeks reminds me bipolar disorder.

Do the conspiracy theorists still have money? With minds as emotional as that I can't imagine they'll be holding onto it for long.

Hmm...nothing's changed with Gox/Dwolla?
So is there anyway to tell if this rally is because of the public's bullish sentiment, or because US gox users are converting their fiat into btc and hence causing a rise in price?

You're completely wrong though. If you want to make a withdrawal from MtGox you simply do a wire transfer.

What smells funny? The Dwolla thing just caused a lot of Gox users to dump their coins on Bitstamp and now we're stuck in a traffic jam. Just enjoy the cheap coins and if you're buying and holding who cares how long we're stuck in this traffic.

No, otherwise other currencies would have a too small liquidity.

Excellent.

First they ignore you.....

That will only encourage people to leave them, to take advantage of arbitrage elsewhere, and that will make the sell wall mostly disappear, unless some people stubbornly sticky with them. I bought some routed from Bitfinex, so I can't transfer any bitcoin out to get a better rate. I hope I don't come to regret that, and that the wall disappears soon. Hopefully they get a good way to import dollars, that would help stabilize it, so long as there's people still left to fund their account through them.

Indeed. The theory is that dwolla users (which is USA customers only) are converting their fiat on gox into btc in order to shift it elsewhere, hence artificially driving up the price, towing bitstamp and other markets upward.

However, major dollar buyers would use wire transfers and remain unaffected, so probably the theory is lame, and BTC was headed up anyway,

No only when you are "all in" (which means you are broke and invested more than you can afford to lose)

Well yeah, there is a distinction. That's why you expressed it differently.  

There we have an agreement, my friend

I will say more: STOP buying silly things with your "spare" money, just throw it to Bitcoin!

You won't be able to prop up the price then.  

Or maybe all those people will be saying "Oh no, an evil socialist government shut down my exchange, I finally got my money back so I can leave bitcoin for good! It is doomed! I am going to give up and let the terrorists win. Fiat 4Ever!"

How much faith do you have in the BTC-24 victims?  

I think they could withdraw bitcions some time now..  (not sure though)

I agree but dicks need pussies to fuck so is it really a bad thing???

hmmm ,  everyone is bearish , everyone is selling , nobody is buying....

price is going up..

BIG SECRET BELOW
don't trust people on forums

My bet is that big players are waiting for support to grow in 118-120 region and then they will dump.

Because they can't dump anything right now without the price dropping by 5 bucks right away?

How do we get past bitstamps 130 wall though?

the end is near

http://www.wm-center.com/index.html
http://www.ecardone.com/index.html

Forgive my stupidity but could you expand on what that chart shows and how the highlighted parts have significance?

so is it going up or down?!

 

I guess you were just kidding... but anyway, the crossing point is arbitrary, the two y axes have different scales... change them and they will cross at different points...

have a doughnut. And then think about freeing yourself.

Are you talking about me, you cunt?!?!

I'll scratch your eyeballs out!

Okay we got a triangle pattern forming and adamstgBit thinks it will break upward. At this time I am not convinced.

Yes, I think so

Absolutely! That's why I joined this forum, to try to tap into some of that market sentiment. However, how significant is that sentiment now that the majority of trades (in terms of volume) are carried out by unsentimental conventional traders?

The whale who bought at 95 with slippage to 110 isn't going to be too happy I think. Will he cut his losses and sell?

Of course , most people can't wait for another Cypress event.
Or a Yapan , or Portogoal one!

1000BTC just sold says nope

The rule of thumb is if you don't know what the market is going to do or the conditions on the market are abnormal, stay away from the market.

I really appreciate that Gox has been dumping the shit out of Bitcoin in the last days.
But to be honest the trading processes that are going on over there look 90% made up and unnatural.

Markets did not like that at all it seems.  They expected MtGOX to sink perhaps... but a flaw with the protocol that affects all exchanges? 

I wondered the same thing..

is anyone having trouble withdrawing btc from stamp?

I did a btc withdrawal 1 hour ago, still nothing on the blockchain.

Its coming soon, just like a swift transfer from Tibanne co ltd.
We all know how deceitful Gox is..

Tuesday's gone with the wind

...some dumbasses have been stopping us at our front door and crying about their bitcoins, and as a result our frappuccinos had to be drank at undesirable temperatures, so we had to relocate MtGox to our previous office building...

Just telling you gently your password is maybe compromise on your side, so change it

Bitstamp has detected an increase in the number of reports of phishing emails which were also received by some of our clients. Our technical team responded by examining the threat and setting immediate security measures in place to prevent potential risks.

As a precaution we have also applied this security measure to your account.

If you have received any emails with suspicious content and have opened links or attachments we highly recommend that you immediately contact a computer expert.

While we appreciate that this comes as an inconvenience we are convinced that our security precautions are in accordance with your expectations in keeping your account secure.

If you consider that your system was not affected we kindly ask you to contact security@bitstamp.net to re-enable the withdrawal function on your account.

Please be advised that Bitstamp will never ask you to reveal your passw ord.

Thank you for your understanding.

Best regards,
Bitstamp Team

Jesus... I said it before, people will get hurt by this.

But this: https://bitcointalk.org/index.php?topic=477423.new#new

I have been trolling aswell, but at the same time it's reality and that shit happens. Fucking shit gox.



****I honestly hope that he wont make radical decisions, nor others being hurt by this.

You have to understand who Mark Karpeles is. Look at his cat videos....

WWGD?

...

That same argument could be used by any belief system dismissing an article pointing out the behaviour.

I've just checked mine. Out of 25 mails in the spam folder, 4 - from "MtGox"!

You can't be serious that you would come to this thread to ask a serious question? 

As if you really have NOT followed any BTC news in 17 days? 

You must have better news sources than expecting a good answer in a thread, such as this - , no?

Anybody know where to buy that shirt? I need that shirt so bad.

Sure, if you can tell me where I can find my code

So nice when the price takes time to react, giving us all a chance to load up. I guess the masses are waiting for somebody to interpret the article and tell them this is good news.  


edit: barry silbert just retweeted it, here we go!!!!

Name of the startup: 21 Inc. ...

Total number of BTC ever to be mined: 21 million

It all makes sense now! They are true believers of the Church of Satoshi! /s

(EDIT) oh, nevermind, they actually say that much themselves >_<

Mine too, as it goes. Still, it seems to have done them a lot of harm.

on Bitfinex, go to "Total Return Swaps" page, offer USD swaps.  I'm currently getting 0.117% daily interest, which translates to (365 day in a year) 42.7% annual interest. Of course it may be higher because interest is compounded, but may be lower as the contracts are for 30 days or less and I may not get so much in the future. (I may get moar!)

finex hidden sell wall @ 293.7

where is lambchop?

< 5,000 BTC to go on Bitstamp. On a side note, they have been removed from the main menu on Bitcoinity  

Epic dumps are not that epic anymore.

~30k I think. It was fun.

stamps resistance fading!

Yes, and it's worth saying that IBM may in the end give up on rolling their own once they realize theirs will not be as secure as bitcoin.

why, the central banks can pay IBM to run the network of course!  

IBM, do they still exist?

I remember the year 2000. I was working as chief programmer for a over-funded company wanting to make a "social interactive multiplayer online travel-game in the browser (flash)". I'm not kidding, I was sitting in a chesterfield chair while programming and running the development. The times were crazy! I made 100k USD a year! And I teached myself PHP/MySQL/Flash while working for them! (Getting paid while going to school, ha ha). I actually managed to make the game in time, and even make it a lot better than expected. But here I go, ranting about the good ol' days. What happened during this period was this:

The management knew that people from India were skilled programmers (for a reasonably price). So they hired an Indian guy, 50 years old, had been working for IBM in the states, now living in Norway. They hired him as my assistant without even consulting me, ha ha   Crazy times....

I spent A LOT OF TIME trying to teach him Flash. After a while, I understood that this sweet, Indian guy could never contribute to the project. It was the day that I had to show him how to type the "$" symbol with a standard keyboard.

Long story short: Does IBM still exist?  

No idea if they're up for interviews (or even like being mentioned in this context ), but from the top of my head, masterluc, RyNinDaCleM, windjc are all traders who seem to have had a strong grasp of the market, for a long time, together with what appears solid risk control.*

* There's more than those three, I'm sure, but they're the ones that came to my mind right now.

I enjoy reading his analyses, and he seems to know EW really well. However, you're correct.

No I don't. I'm doing pretty well, but not that good.

^What should *I* say? I was not promised $10k coins, they told me $300k coins were a sure thing!

There's a wall in under 300$, let's see if we can cross it.

HAHA funny....

Not sure what you are trying to show with your chart. If you are suggesting the RSI cannot support any moves higher I suggest you look at Nov 2013, it has already broken out according to your charting..

Edit:

If we are playing spot the pattern then perhaps we are back in september 2013..

Michael, couldn't let go of $2? $302 wasn't enough?

1 - cool

2 - not sure why you are not defining the downtrend as being from the ATH and all subsequent lower highs. If we do so then it is already broken. But you are quite right the price may not be going up any time soon..

3 - we can agree to disagree on this one

4 - Certainly not upset! I dont trade with leverage. When there are players stuffing 120,000,000 dollars into stealth startups, the majority of which work/own major silicon valley firms then I would suggest you are wrong . I think the price is heavily engineered or manipulated. But expecting the price to drop below 160 dollars from a high of 1200 seems a bit silly now.

not sure what you guys were talking about, but this is really not a good basis for trading - actually it is a bad basis for everything ^^"

Good job we have Coinbase and the BIT GBTC then and Gemini on the way.

Lets agree to disagree.  

NLC probably banned for paedophilia references..

Long interest falling now 0.09%

Next an attack on 300.

To the guy shorting because sentiment is bullish - how would that have worked out in 2014?

WHAT???

I think most here can filter the sarcasm from the real comments.

Anyway, yes my spelling is bad, and I do not intent to correct it... take it or leave it...

yes I believe very much in Bitcoins and that it can end the corruption of the fiat system, no matter if you think free masons and illuminati have control over fiat or not!!!??

Look at the 1w chart on bitstamp and point out any bubble we are experiencing. Trying to play the contrarian by betting against forum sentiment can work. But betting against positive sentiment after a 14 month bear market when the price isnt even out of the long term log down trend seems..risky.

There's still a chance this could break down and fill in below $280, which opens the door to breaking the rising bottom trendline at $260. However this is not what I think will happen (but many chartists are calling for it).

If you're not already in now, the lower risk trade would be to go long after $300 is broken and becomes support, confirming the break.

It's possible though margin cascades are hard to predict. There might not be enough selling to even get us sub $280 at this point, though we might go there again due to low volume in general. When the market leaders are bullish and want to go up, watch them shake out the market downward as many times as it takes to clean out enough supply to do it while supporting certain price levels. They have both the bankroll and patience for this and it is a profitable thing to do as it fills their longs and builds retail shorts.

Those longs who are well capitalized would need sub $200 to get margin called, and that price is close to bear delusion at this point. I expect they would hold through, just as some of the well funded shorts are doing who allowed themselves to be trapped during capitulation. I expect they, on the other hand, are getting mighty nervous as their danger zone is in the $300s. Some of the bearish activity you see is likely groups of them protecting their positions--I saw this activity all the way up from the bottom--seems to work well enough until a whale with a pump bot comes along and decides to annihilate them.

They will continue in the direction of least resistance according to supply and demand. That is why after capitulation they began pumping instead of dumping. Fighting natural market forces is a good way to go broke, any market professional knows this. They won't do it. There is also a good chance that they can see both sides of the market and have insider connections--so they know when to mark the price up or down ahead of how much fiat is entering the exchanges and what kind of news is coming out.

They've tested the hell out of this price range and it resulted in an accumulation gradient of rising bottoms (likely by multiple competing interests). This is bullish. They see this. We will test downward as many times as needed to break $300. If it means that they hold most of the coins on Finex to do this, so be it. They will be distributed later.

...

I never said they were.  Here we witness these two dudebros pissing it away trying to be great. They smoke too much weed and probably hang out with each other too much.

This. Traders who took long positions on Bitfinex are bullish and they don't feel to close their position right now.

http://bitcoinist.net/bit-first-publicly-traded-bitcoin-fund/

Ok, who woke-up the dumpers?

https://bitcointalk.org/index.php?topic=992628.0

edit: what a touching story. Bitcoin saved the day

Not much follow through selling so far..

Hope you aren't getting bear trapped

The market finally woke up.

Its looks like an indecisive market, it could turn from bear to bull any sec.

This goes well with my $268 target

Idk. Looks quite sad. He's texting to himself.

I missed the news about her, indeed.  But the list is very long -- of people who obviously do not believe in bitcoin, but still hope to profit from the Bitcoin phenomenon...

Good morning, gentlemen!  I bring good news!  NotLambchop and his ugly horse, Silverspoon (who is not even a part of the Mane Six--a totally irrelevant background pony who smells!) HAVE BEEN TERMINATED from lokijuyhtgrryryj LLC employ.

Having perused through their [frankly, offensive] postings, I was shocked and appalled by the depth of depravity those miserable miscreants have sunk to.
I assure you, gentlemen, Lamb & Horse will bother you no more.
Excelsior!

Very true. I remember reading somewhere about a device that was already able to monitor an individual's ECG waves as they are even more unique than fingerprints. This stuff is being created as we type.

Yup... afraid so, but then it is not exactly a case of "newsflash- shocking news just in, the NSA are watching, and apparently will continue to do so" and it is not as if Apple, inc applepay ^^ and all of the others,  are now, or will be in the future immune from this. Neither will it stop the evolution of the tech from occurring.

The tech is coming/already here, it is the way people accept it, or not, or get around it, or not,  that will determine how useful and or detrimental it will be to society. I am afraid that people will continue to sleep walk straight into it.

Yes, for some 100 pages of this thread... 

Things are looking dim.

I'm considering selling off all my bitcoins if we go below $250...

There was a 5k wall placed at 250, minutes later it broke up into staggered walls, seconds later it looked like all 5k plowed into the asks.

you are not telling it right.

someone borrowed another 1.3 mil, flashed it with a massive buy wall on 250, a lot of lemmings and whale kamikaze bought a lot of short positions.

that's it.

the spike were the noobs buying and going all in.

There could be a possible dump on both btc/ltc.  There seems to be improvements on the ltcgear front and there is a slight chance we could be paid (for those who own ltcgear shares).  There's about 13-14 weeks of funds that could potentially be paid out and I know a lot of people need to convert to fiat.  In terms on how much can or could be paid out were talking in upwards of 2-4 million (possibly more).  I think the site is split on 50/50 btc/ltc payment

Keep that in mind

Soon dump. Bullish style is so weak... No energy, no hope...
1.1k Wall at btcchina won't help. We need 20,000 walls to be really bulllish imo.

who do you trust more regarding an accurate recollection of history? A larger group, or a smaller group?

But aren't smaller groups easily influenced by smaller media?  

I totally agree, it's just been a lot of bear grumbling here today so I thought perhaps you had something to add.

Although I see some of the signs of this going to smack to the ground, there are things that makes me feel like we are being played here.
If you look at the movement (http://bfxdata.com/combined/btc.php) from 20.00 to 24.00 on the 19th of March, which is followed by dead silence, that looks... And the sentiment at the time from everyone who is dead sure now was "WTF???", which tells me we might be staring at a trap, hopefully for bears.

Then again, I really want this thing to go through the roof so I am quite biased.

Long from $260 if anyone is interested. Holding steady.

Previous trades:

long $220-$290
short $290-$230
long $230-$280
short $270-$260
long $260-$255

but but it didn't go to <240 after hitting 290

edit unless you shorted 290 2 months ago... i c

very well done!

If a Bitcoiner is scammed and nobody is around to laugh at him is it still funny?

Good traders are good because they know how to manage risk. They won't risk 100% or their account on a margin trade. 50% is max, so if you have 10btc in your trading account you risk 5. That's a 15btc position if you're on 3:1.

This can't possibly bode well with respect to the 236 support. It's bound to be tested over the next 7 days, and judging from how weak BTC has been in the face of almost all support, I don't have high hopes. But I'm not selling my long position yet because in my experience, it is right after that when the thing turns around and RIPS. So basically I have no idea what to do.

Plz post some rockets and put me on ignore again! 

well hello my friends.

my short from 255 is turning very profitable, again.

thank you bulls.