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

[solex]

Wow, Stamp hit $460 almost an hour ago when we were screwing around. I almost owe Adam an apology if you take a very loose interpretation of the term "moments away".

Adam also called out $425 as a great buy which is an entry point nicely in profit now.

[ChartBuddy]

Explanation

[boumalo]

Has this 40K btc purchased news actually been confirmed by anyone as legitimate? I saw it linked on some Chinese site. Perhaps it's a Chinese pump before their next dump.

This purchase could technically happen 300 times. But who is to say it will happen even one more time? It takes more than just some occasional institutional investor to cause a reversal - there needs to be a trend of new people getting interested and actually wanting to use the technology, or a new market.

The daily chart is trumped by the weekly ema downcross. All the little patterns and indicators you are looking at will just get erased with a random giant red candle out of nowhere.

yeah it was confirmed.

how could it happen 300 times? that's wishful thinking. 300 market orders? or shall they put up a 5 million BTC buy wall on bitstamp?

I am using the daily chart. and I wish that you could guarantee that my 'little patterns' will be wiped out, but you cant. what we are seeing now  believe is the market preparing for July, when for the first time legit exchanges will be opening in America. we will see all the legit money that's been held back,  and perhaps china follow the lead of the USA as expected.

I'm afraid that China will not follow anything at that point, because I believe that real Chinese Exchanges will be a thing of the past at that point. The current Chinese exchanges made it too easy for common chinese people to obtain, use and invest in bitcoin. The Chinese government does not want that. I don't think they will ban bitcoin all together, they just seriously do not want the common people to get involved with bitcoin. They won't ban it per se for several reasons. First it will be seen as a backward move. Second they have industry (miners and hardware/chips manufacturers) that they want to survive and profit from bitcoin. Maybe they also want someone to profit from Bitcoin speculation, just not the common man. I think the writing is on the wall. Their policy is a major setback for bitcoin adoption in China. I am still hoping that Bitcoin will be powerful enough to pull through, but it is not looking good at the moment in my opinion.

Another month or two of this various bull - sheit... and many of us will be completely disheartened.     Then, BTC will be ready for its price rally.

I agree. The exchanges are to easy to control with regulation. I hope the Chinese traders will take their BTC out of the exchanges and start trading them in other ways.

The volume won't be the same if the chinese traders can't trade on exchanges but they could trade in offshore exchanges; the price will rise when the situation has settle and we have some visibility
I see some very pessimistic traders that short bitcoins, but if they are right they will lose all their money when the bitcoin exchanges disappear!

According to my last TA we will see bitcoin going down or going up.

 

[billyjoeallen]

Wow, Stamp hit $460 almost an hour ago when we were screwing around. I almost owe Adam an apology if you take a very loose interpretation of the term "moments away".

Adam also called out $425 as a great buy which is an entry point nicely in profit now.

When has he ever not said it was a great time to buy? That particular signal got lost in the noise. Chances are I'll have at least one or two more times to buy at that price point.

[spooderman]

Wow, Stamp hit $460 almost an hour ago when we were screwing around. I almost owe Adam an apology if you take a very loose interpretation of the term "moments away".

Adam also called out $425 as a great buy which is an entry point nicely in profit now.

When has he ever not said it was a great time to buy? That particular signal got lost in the noise. Chances are I'll have at least one or two more times to buy at that price point.

Adam has been bearish sometimes. Notably when we first hit the 700-900 range.

[ChartBuddy]

Explanation

[edwardspitz]

Has this 40K btc purchased news actually been confirmed by anyone as legitimate? I saw it linked on some Chinese site. Perhaps it's a Chinese pump before their next dump.

This purchase could technically happen 300 times. But who is to say it will happen even one more time? It takes more than just some occasional institutional investor to cause a reversal - there needs to be a trend of new people getting interested and actually wanting to use the technology, or a new market.

The daily chart is trumped by the weekly ema downcross. All the little patterns and indicators you are looking at will just get erased with a random giant red candle out of nowhere.

yeah it was confirmed.

how could it happen 300 times? that's wishful thinking. 300 market orders? or shall they put up a 5 million BTC buy wall on bitstamp?

I am using the daily chart. and I wish that you could guarantee that my 'little patterns' will be wiped out, but you cant. what we are seeing now  believe is the market preparing for July, when for the first time legit exchanges will be opening in America. we will see all the legit money that's been held back,  and perhaps china follow the lead of the USA as expected.

I'm afraid that China will not follow anything at that point, because I believe that real Chinese Exchanges will be a thing of the past at that point. The current Chinese exchanges made it too easy for common chinese people to obtain, use and invest in bitcoin. The Chinese government does not want that. I don't think they will ban bitcoin all together, they just seriously do not want the common people to get involved with bitcoin. They won't ban it per se for several reasons. First it will be seen as a backward move. Second they have industry (miners and hardware/chips manufacturers) that they want to survive and profit from bitcoin. Maybe they also want someone to profit from Bitcoin speculation, just not the common man. I think the writing is on the wall. Their policy is a major setback for bitcoin adoption in China. I am still hoping that Bitcoin will be powerful enough to pull through, but it is not looking good at the moment in my opinion.

Another month or two of this various bull - sheit... and many of us will be completely disheartened.     Then, BTC will be ready for its price rally.

I agree. The exchanges are to easy to control with regulation. I hope the Chinese traders will take their BTC out of the exchanges and start trading them in other ways.

The volume won't be the same if the chinese traders can't trade on exchanges but they could trade in offshore exchanges; the price will rise when the situation has settle and we have some visibility
I see some very pessimistic traders that short bitcoins, but if they are right they will lose all their money when the bitcoin exchanges disappear!

According to my last TA we will see bitcoin going down or going up.

 

I have great difficulty figuring out exactly what is going on, because the last "fractal" has showed a few weak signs that could be interpreted as the beginning of a reversal. There has been some good news with great potential from reliable sources and a whole bunch of bad news from less reliable sources. Some people may have figured everything out, but not me I try to trade on what I know and the only thing I know for sure is that we are currently in a downtrend, that the Chinese situation is unresolved, and that large BTC-assets may be liquidated. If I needed to buy huge amounts of BTC I might consider to buy a few coins now, but since I can't afford 1000's of coins I will wait and see. 1st of the month is payday and that could give us a small rise. But I believe we are approaching the end of distribution. After that prices will drop - I am most likely wrong. Toodle Pip, I'm off to lunch!

[chessnut]

And the moral of the story here folks is that Chessnut would take money out on leverage to do this trade if he truly believed we were going to break out of this bear market.  But he doesn't and so he avoids doing that and he avoids my bet offer.

Always watch what people DO not what they SAY.

you idiot. do you realise that you could play to the bet with 100% certainty to make a net win if you put a long on Bitfinex? I deserve the correct odds.

I am long from 430.... you know that all too well.

[billyjoeallen]

Starting to get  a little dumpage on huobi. Mayday, mayday!

[lemonte]

Isn't there supposed to be some Gox news today, or did I imagine that?

[ShroomsKit]

China dump and the Stamp sheep following.

[capsqrl]

If anyone wants to dump, there's plenty to dump into now - more than 10k down to $400.

[freebit13]

China dump and the Stamp sheep following.

I've wondered whether it's sheep following... or the same person/people...

[ShroomsKit]

China dump and the Stamp sheep following.

I've wondered whether it's sheep following... or the same person/people...

Combination i guess.

[billyjoeallen]

If anyone wants to dump, there's plenty to dump into now - more than 10k down to $400.

The FBI's gonna need a little more bid depth than that.

[dreamspark]

yer cause the FBI is going to drop a market sell on Stamp 

[kodtycoon]

So given how this thread is always on-topic, I would like to hear a few reasons for and against NXT, if you ladies and gentlemen have an opinion on the matter.

wow ok where do i start.. perhaps i will just link to important posts that can sum up things better then i...

buy anything with nxt where ever btc is accepted

https://nxtforum.org/multigateway-jl777/btc-bridge-buy-anything-with-nxt-that-you-can-buy-for-btc!/

sub atomic cross chain transactions nearly in (i think beta) release

https://nxtforum.org/multigateway-jl777/nxtsubatomic-atomic-crosschain-exchange/msg14063/#msg14063

Asset Exchange

Asset Exchange is the decentralised marketplace of Nxt. It is where any any asset, digital or physical, can be traded peer to peer without the need for a centralised third party. The Asset Exchange concept is often generally referred to as Coloured Coins in the cryptocurrency world.

multigateway

multigateway will allow deposit of crypto coins, starting out with btc, ltc, drk and doge, into a multisigniture "account" and deposits are then represented in asset exchange as "assets" which then can be traded and who ever buys the "assets" of that coin can then withdraw the coins from multigateway allowing decentralized crypto trading at high speed(see instantdex) with out any risk of 3rd party theft of coins(gox)
https://nxtforum.org/multigateway-jl777/multigateway-status-reports/
https://dl.dropboxusercontent.com/u/53047281/multi-sig.doc  <<< downloadable .doc describing multigateway more in depth

InstantDEX

InstantDEX is a service built on top of Nxt’s Multigateway service and Nxt Asset Exchange and has been shown in a proof of concept to have achieved ~5 second transaction times prior to any optimization. The goal of InstantDEX is to allow for real time trading of any Nxt Asset against any other Nxt Asset, not just Multigateway assets, and also NXT itself.
After optimization, the goal is to achieve transactions in the ~3 second timeframe. The Multigateway will need to be trusted to redeem assets but almost all of InstantDEX will be decentralized. Due to the nature of the transactions, those with good internet connections will get better performance than those with bad internet connections. InstantDEX is still in development and the discussion thread can be found at here.
https://nxtforum.org/multigateway-jl777/secret-project/

Monetary System

Monetary System will allow you to create currencies backed by NXT. New coins are created by "locking" NXTs. This could be thought as similar to “burning” Nxt but this is inaccurate as the process can be reversed. If you destroy 7% of the supply the created coins then you get 7% of the locked NXTs back. You are unable to lock more NXTs into the coin once it is created so the supply can’t be inflated. Transaction fees for coins created in the Monetary System can only be paid in NXT. To join the discussion, see the Nxtforum.org dedicated subforum at https://nxtforum.org/monetary-system
https://nxtforum.org/monetary-system/

Automated Transactions

In simple terms, Automated Transaction will be trustless Escrows. Work is being done on a Turing-complete scripting layer that can operate on top of the Nxt blockchain. "Turing-complete" is a term that means the scripting language is not limited in scope and can compute anything. This Nxt application will allow for the creation of Distributed Autonomous Corporations (DACs) that can issue transactions automatically, based on a set of rules.

this is huge.. i think lol

https://nxtforum.org/pub-crawl/rfc-project-'jinn'-(processor)/msg14376/#msg14376

digital goods store

https://nxtforum.org/digital-goods-store

thats enough i think lol loads more in the forums

edit: added https://dl.dropboxusercontent.com/u/53047281/multi-sig.doc

[ChartBuddy]

Explanation

[billyjoeallen]

yer cause the FBI is going to drop a market sell on Stamp 

Bitcoins are fungible. Whoever is buying FBI coins will not be buying on Stamp, so the effect is the same. Whoever is buying FBI coins might sell on stamp, however.

Let's just say that if I were to buy 100,000 BTC at auction from the FBI for let's say 20 million dollars, you're damn right I'd dump a few thousand of them on the exchanges. That is a real downside risk.

[freebit13]

Andreas Antonopoulos on Singularity 1 on 1: "Bitcoin is not currency, it's the internet of money!"

http://www.youtube.com/watch?v=KW_wYvZ1eZg