All posts made by gog1 in Bitcointalk.org's Wall Observer thread
1.
Post 2753503 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.11h):
Trading is very erratic, the 2k coin at $90 is eaten.
2.
Post 2753511 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.11h):
the coins at 91 are all gone as well. trending back up.
3.
Post 2782690 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.11h):
This should be interesting...
WTF!
4.
Post 2808530 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.11h):
I always find these 'walls' odd. Other than being useful for 'scalping' (controlling prices to a certain extent and making $ off the bid-ask spread), they look like an inefficient way of accumulating or distributing.
As per the other exchange. You raised a valid point. But getting money to BTC-E is difficult and most of the methods involve high fee - their deposit fee is quite ridiculous. Neither BTC-E nor bitstamp's orderbook can accommodate thousands of BTC without price moving significantly.
As bitstamp's price slowly creeps up, I guess there goes the theory that people snapping up BTC on gox as a mean of moving their $. As least, they are not dumping their gox BTC on bitstamp.
The buying whale has decided to wait for seller exhaustion at 96.
And yes, this is f-ing boooring!
Ditto, holding the market is almost as bad as the repeated 1000+ BTC dumps we had a few weeks back. At least then there is reason for chaos and disorder, now everyone is sitting around watching the folks who have whipped it out and put it on the table but are too timid to actually do anything.
Flaccid whales.
Here is a question: If it's the whales that are accumulating why is the spread vs Bitstamp and BTC-e so high?
5.
Post 2815628 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
If it was the obvious, why'd they dick around with $.50 wall moves? The 96 wall was the same regardless.
Seems like a waste of time. Maybe they were just having some weekend fun.
manpiulation!
6.
Post 2832760 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
Someone posted a graph that shows total bid / total ask on mtgox over time, interested to see that.
7.
Post 2835017 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
Did gox just crashed, nothing's coming through the websocket
8.
Post 2836707 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
9.
Post 2836779 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
there is little depth on the bid side, a 5k BTC dump would send us back to 104.
just someone wants coin really bad hitting up all the ask.
10.
Post 2837021 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
@solex: Personally I would imagine that its a few large groups that brought this rally on. Not 1 person, no, but maybe 2 or 3 groups.
It's climbing high on relatively low volume. Not convincing, is it? Someone's been working hard though to move the price up over the past few days. The question is why? And will it work?
Thats because there are no more asks...
It was 150k 3 weeks ago or so. Now just 73k.
so gox has no more coins - the whale can go to the futures exchange and start shorting, short more contracts than coins he has, and then start a massive dump
11.
Post 2847742 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
There has to be a way to arbitrage and take advantage of this $10 difference in price! Just sitting around and watching this opportunity is making me sick.
It's not true arbitrage as money does not flow freely out of gox.
12.
Post 2851219 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
the gap between mtgox and bitstamp is closing, that's interesting.
13.
Post 2853730 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
I believe coins are showing up on the ask at gox again. Would love to see the bid sum / ask sum graph.
14.
Post 2859554 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
It is not true that the bid side on Bitstamp is weak, there is much hidden power behind, especially since most of the buys are driven by Bifinex.
Bitfinex allows both short and long. But I think the margin trade is running out of money for people to borrow.
15.
Post 2859740 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
103.15 proven to be a fake wall, after getting 500 coins dump, the rest of the bid pull away.
16.
Post 2861879 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
It's just uncorroborated rumor at this stage.
17.
Post 2861918 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
It's just uncorroborated rumor at this stage.
Possibly, but he is offering to make wagers.
Having a bet on bitbet and betting against it would kind of be a 'good' 'hedge'.
18.
Post 2862027 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
I'm not sure if Paypal / Ebay is so forward looking.
The cynical me suggests I would go borrow all kinds of money and sweep up all the bitcoins I can find if I really do have the inside scoop. After all, no one would know this 'insider' trade and there's no criminal punishment either.
19.
Post 2862070 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
Part of it has to be demand from SD buyout. I'm more curious as to why it fall all the way to 65. Whoever that dump the coins made a not so wise move given the SD buyout.
I liquidated a lot of coins at 100 for a down payment of a house. Damn my gf if that's true (she's the one who wants a house, I'm more than happy renting).
20.
Post 2868821 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
Yes. Lots of good news, but significant gaps, like no mention of how the FinCen MSB registration process is going, or why accounts with several banks are not up and running. Do all their banks have the same trick of hanging onto deposits for 7-10 days??
did not mention anything with withdraw at all!!!
21.
Post 2874809 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
I think one of the wall at 105 is pulled.
22.
Post 2874997 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
I still don't really have full faith in this rally - demand from SD buyout probably brought us back to 90-95, but I'm suspicious of the run up from 95 - 105. Instead of the wild run up to 115 on mtgox after they suspend withdraw and people trying to get their money out mad by buying coins, it's just a carefully orchestrated attempt slowly release trapped funds from mtgox. The ask sum has been declining, volume on bitstamp up.
With labcoin, btcgarden, 796 and all these IPO's completed recently, there's probably selling pressure coming soon on bitstamp.
23.
Post 2881177 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
Bitcoin officially a security under US law:
http://www.reuters.com/article/2013/08/06/us-court-sec-bitcoin-idUSBRE97517G20130806(Reuters) - U.S. regulators got the green light from a federal judge to proceed with their lawsuit against a Texas man accused of running a Ponzi scheme using Bitcoin, the virtual online money system.
Trendon Shavers of Bitcoin Savings & Trust had challenged the Securities and Exchange Commission's case against him, saying the regulator had no jurisdiction to sue him because the Bitcoin investments he offered are not securities or subject to any U.S. regulation.
But U.S. Magistrate Judge Amos L. Mazzant in the Eastern District of Texas ruled on Tuesday that his Bitcoin investments "meet the definition of investment contract, and as such, are securities."
Bitcoin exists through an open-source software program. It is not managed by any one company, it is not regulated by any central bank, and its supply is controlled through a computer algorithm. Users can buy bitcoins through exchanges that convert real money into the virtual currency.
The SEC warned investors against the dangers of potential scams involving virtual currencies like Bitcoin in an alert on July 23, the same day it filed the charges against Shavers.
Tuesday's ruling could have important implications for the still murky legal world surrounding digital currencies, which is not regulated by the United States.
Bitcoin has come under greater scrutiny after U.S. authorities in May seized two accounts linked to a major operator in the Bitcoin digital market.
The judge's decision could be important for Cameron and Tyler Winklevoss, the twins who became famous after alleging that Facebook Inc founder Mark Zuckerberg stole their website idea.
In early July, they applied to the SEC for approval to launch a Bitcoin-tracking exchange-traded product known as the Winklevoss Bitcoin Trust.
The SEC alleges that Shavers essentially used money from new investors in his Bitcoin endeavor to cover withdrawals by older investors and his own personal expenses.
The agency said he raised at least 700,000 bitcoins, or $4.5 million, from investors in multiple states.
Shavers had asserted that his Bitcoin investments are not securities because Bitcoin is not money, but the SEC countered that they constituted both investment contracts and notes.
"It is clear that Bitcoin can be used as money," the judge wrote. "It can be used to purchase goods or services."
Shavers could not be immediately reached for comment.
Will this have an impact on market movement?
Does that mean bitcoin itself is a security or just whatever pirate sold is a security?
24.
Post 2881372 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
In other news, litecoin on a slide.
all the altcoins are going down.
25.
Post 2881823 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.12h):
gov't legal opinion is a matter of convenience sometime, this time, it favors them to argue bitcoin is money. Next time, they'll argue bitcoin is ..... (whatever you want to fill in) if it suits them.
26.
Post 2893701 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
the bid sum dropped quite a bid earlier today. but given no one can get their money out of gox, it's rather just people sitting on the sideline. looks like they are content with a $3 drop and start picking up coins. ask sum is now dropping again
27.
Post 2894892 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
trading is very erratic today. the gap between bitstamp and gox is expanding which is worrying - with strings of IPOs recently launched, maybe we'll see the gap between the 2 sides continue to grow and maybe a downturn in prices? thoughts?
28.
Post 2895369 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
I truly hope that gox ceases to be a going concern by end of the year.
29.
Post 2901008 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
I have a feeling MtGox will soon burn to the ground...
this thread will be irrelevant,
I vote that chartbuddy move the Stamps thread now.
would love it if gox is burned to the ground!
but honestly, prices are bitstamp are depressed due to issue at gox. It's even lower than btc-e.
30.
Post 2903412 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
Gox is showing under 10k volume on a friday evening. wtf wtf wtf.
gox is dying
It is not just Gox. The bears on MTGox are spooked because they cannot get their USD out of MTGox while the bulls are having trouble getting their EUR into Bitstamp.
https://bitcointalk.org/index.php?topic=270716.0. On the other hand Virtex has just changed their payment processor for bill payment deposits and added a 1% fee in the process.
https://www.cavirtex.com/deposit_methods.
The spread between MTGox and Virtex is well over 10% after factoring in the CAD / USD exchange rate.
cavirtex is for Canadians only and volume is not meaningful. Not in Europe so this could be a stupid question - if you cannot make SEPA payment, can you wire USD from one bank in Europe to another European bank?
31.
Post 2920130 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
If you claim anything else, you are tryin' to sell some bullshit.
Listen to this guy - he's an expert bullshit seller so he knows what he's talking about.
i'd love to see him perform a whole page of discussion with his twin brother Jaroslaw but that's perhaps too hard to pull off.
would be a nice paradoxon though.
his twin brother has disappeared for a while.
32.
Post 2936804 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
During the last 3 days about 20k BTC have disappeared from the order book (at least as I write this).
Do you think it's just one major player (possibly a company) buying? Is the withdrawal of funds from Fort Gox via BTC over?
I think it's one major player (probably a company) instigating and maintaining the uptrend to acquire an inventory of bitcoins as cheaply as possible while keeping the price as stable as possible to protect their assets.
I think it's multiple people with big cash balances on Gox losing patience seeing buying as the safest way out, but trying not to spook the market too much as they do so. I would like to see numbers for BTC leaving Ft Gox if they are available. I am pretty sure there is not a crowd banging on the door to give them more USD right now, so it's a one way street.
Massive first mover advantage here ... buy, hold, let BitStamp follow, cash out $10 later. Or $15 as it is now. Or hold for the panic run. Nobody talks of it, but there will be one if they continue to make no progress whatsoever on finding a banking partner to work with.
Confidence in Gox is decreasing and there is only one way out. Could get really crowded ...
Edit: Oops, just got back from the ballpark (Jays beat Bsox in extra innings), had a few beers and posted the quote without a comment (facepalm).
I don't think the MtGox situation has been that big an issue, worldwide, since early July's capitulation. If you look at the pattern of ask-wall busting whale purchases and ensuing bid-walls, they seem to be the work of a single entity. The modus operandi has been consistent through several major ask-wall breakthroughs.
Do you really think someone with the resources to organize such a concerted effort is restricted by some petty exchange difficulties.
It's probably either governmental, corporate or military. It's almost surely not speculators.
gov't buying up all the bitcoins so it can kill it !!!!!
(It became necessary to destroy the town to save it)
33.
Post 2950606 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
http://bitcoin-analytics.com/on this site there is the option to see the all USD consolidated order book: go to depth and select allUSD (just for info. I do not have any relationship with this website)
My point is that, to assess the entire bitcoin price direction using order depth, it may be best to look at the entire consolidated order book.
I think this is still skewed somewhat as mtgox has most of the $ / BTC from years of operations which allow them to have a big order book - especially from the USD side. A more telling picture would be the order book of mtgox vs all others excl. mtgox. Pretty sure you see huge asks but lower amount of bids (relative) on the other exchanges.
While other exchanges still follow gox price to some extent, in general, the gap in absolute $ and percentage term seems to be expanding.
34.
Post 2955839 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
wait till the CRA comes for an audit.
35.
Post 2969162 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.13h):
http://gigaom.com/2013/08/19/feds-seized-2-9m-in-bitcoin-funds-from-mt-gox-court-docs-show/"The federal government sent a strong signal to Bitcoin traders earlier this year when the U.S. Department of Homeland Security seized an account belonging to Mt. Gox, the most popular exchange for people to buy and sell the crypto-currency. It was unclear at the time just how much currency the government confiscated.
But a new filing in Baltimore federal court (embedded below) shows the feds seized $2,915,507.40 held in an account controlled by Dwolla, a third-party payment platform similar to PayPal. The funds belonged to Mutum Sigillum LLC, a U.S. subsidiary of Tokyo-based Mt. Gox."
There are 14 million on the bid side, a seizure of 2.9 billion should not leave gox insolvent.
36.
Post 3258716 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.16h):
bitcoin market is quite fractured, mtgox has withdrawal problem, bitstamp is dead, btce dwindling volume, now BTC / fiat trade concentrates in China where currency cannot flow freely. Very hard to make of the moves.
37.
Post 3944105 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.37h):
It seriously doesn't look good for my btc short position now, looks like I'm going to get busted there heavily. Only some big dump could save me.
I should know better when I saw those big ask walls on Stamp and Bitfinex at 840-850 being eaten in no time. Big mistake.
Tomorrow's Friday, you may get your Friday dump.
38.
Post 3944149 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.37h):
It seriously doesn't look good for my btc short position now, looks like I'm going to get busted there heavily. Only some big dump could save me.
I should know better when I saw those big ask walls on Stamp and Bitfinex at 840-850 being eaten in no time. Big mistake.
Tomorrow's Friday, you may get your Friday dump.
That's why I went short in first place but it keeps getting further from me so far. Shorted it too fucking early. I've made 3.5k$ shorting btc yesterday but I'm like 4.5-5k in losing position today.
Short more! "average up"!
39.
Post 4642004 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.57h):
the spread between mtgox vs bitstamp is getting larger, more mtgox withdraw problem?
40.
Post 4700184 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.58h):
pretty sure someone mentioned it - but I think the wide adoption of bitcoin temporarily put a cap on the price as these retailers just simply dump the bitcoin via the likes of bitpay. People who don`t have bitcoin will still pay with traditional method when shopping at tigerdirect, overstock, etc - they will not go buy bitcoin just to pay with bitcoin. I can only see how users of porn site or online casino may want to buy bitcoin to complete the transaction.
41.
Post 4700233 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_11.58h):
pretty sure someone mentioned it - but I think the wide adoption of bitcoin temporarily put a cap on the price as these retailers just simply dump the bitcoin via the likes of bitpay. People who don`t have bitcoin will still pay with traditional method when shopping at tigerdirect, overstock, etc - they will not go buy bitcoin just to pay with bitcoin. I can only see how users of porn site or online casino may want to buy bitcoin to complete the transaction.
You're still thinking short-term.
As I stated, `temporarily.
The Friday dump seems to become a Thursday occurrence for the past 3 weeks.
42.
Post 5434222 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.22h):
beginning of the usual Friday dump that happens the past couple of weeks. Thursday seem to be the weekly peak
43.
Post 5475489 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.23h):
holy, another bid wall just come up
$566.20 1780.12913604 $1,007,909.12
44.
Post 5498033 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.23h):
no secondary buying momentum for the past few hours, only $12.5 million loaned out on BFX which didn't really increase all that much despite the huge run-up, it's both good and bad; good thing is lots of powder on the side to push it up, bad thing is no one has the faith to do it - btc-e is at larger than normal discount vs stamp and Chinese are not buying. I see it slowly trending down toward $640-650 and there'll be a violent push up once it get near the support. I think we are range bound for a bit.
45.
Post 5540692 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.24h):
BFX USD loan rates going up (from 0.08 to 0.20%).
total loan outstanding only increased by $600k. I think the loan book got a lot thinner since the day it flash crashed to 102 on BTC-E.
46.
Post 5555160 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.24h):
with his identity revealed, chance of a 'dump' or sell for money to assume a new life increased. so I guess the fall is 'justified'
47.
Post 5665274 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.26h):
selling pressure at low 640's looks very high, every time it's past 640, medium size asks keep popping up. May be quite a while before the seller runs out of coins. Thursday is traditionally the most bullish day of the week, see if we can make it to 675, otherwise, I see it go back down to 600 by Monday.
48.
Post 5677042 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.26h):
Huge selling pressure at around 640-650, and consider bitfinex BTC loan book didn't increase, it does not look like the work of short seller. Someone really has lots of coins to unload at 640-650.
49.
Post 5699262 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.26h):
did the 630 wall get devoured or did it get pulled?
50.
Post 5699585 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.26h):
I think the day of the week effect is getting more pronounced. Friday + weekend generally a down day with Tuesday - Thursday up days. I speculate it has to do with the lack of fiat coming into the system on weekend, at least Bitcoin Investment Trust can't be buying on weekends.
51.
Post 5862359 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.28h):
Only 487364BTC left for sale @563/Bitfinex.
I can't view any of the embedded images. What's with the wall? 487k BTC? Are you kdding me!?
52.
Post 6054501 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_12.32h):
can we explain a single actor buying 5k coins?
probably second market, they usually make their moves on Thursdays.
53.
Post 8960743 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.15h):
So is this wall at 420 bear bait or what? At least this is interesting, the last few months have been boring as hell.
I think it'll be eaten live!
54.
Post 8961318 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.15h):
when did that 1k btc bid at $410 came up? did half of the $420 wall got pulled?
55.
Post 8961708 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.15h):
these fake buy walls are put up so whale's BTC on hand can be liquidated with minimal slippage
56.
Post 8980211 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.16h):
I guess the fake bid wall at 400 got pulled and reset at 390?
57.
Post 9005428 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.16h):
wasn't there like a 2k bid wall at 390? got pulled or sold into?
58.
Post 9169200 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.23h):
Looks like the wall build up to over 4k coin
59.
Post 9169583 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.23h):
didn't half of the wall at $360 got pulled back to $350? manipulation?!
60.
Post 9176389 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.23h):
did the $360 wall got sold into overnight? or was it pulled?
61.
Post 9304348 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.25h):
the dead cat bounce is over and the prevailing down trend continues.
62.
Post 9548470 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.32h):
sellers are desperately trying to keep it under 400.
63.
Post 9608306 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.33h):
There has to be some kind of a dumping robot. There`s a bot that sells 0.2 BTC at random interval between 10 - 30 sec
64.
Post 9608373 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.33h):
There has to be some kind of a dumping robot. There`s a bot that sells 0.2 BTC at random interval between 10 - 30 sec
I think it's part of the Shroomskit autopost bot
ok, that`s roughly 3% of stamp`s volume - about 20 BTC an hour that he`s dumping
65.
Post 10019698 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.42h):
good idea to go long now?
opened, let's see
still remembered the 30k BTC sell wall at $300 that got gobbled up ......
the support at $300 should be quite strong.
66.
Post 10037999 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.43h):
this smells like a Chinese led sell off - BTC prices in Chinese exchange trades at quite a discount
67.
Post 10061451 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.44h):
I think now would be to speculate what happens when stamp comes back? A massive dump?!
68.
Post 10073076 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.45h):
nice to see btc-e back to first place, feels like the good old days
good old days is the days when gox ruled!!!
69.
Post 10152238 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_13.48h):
Prediction: Lost of mining equipment being sold off cheap, some of which will be purchased by bitcoin enthusiasts who will hold rather than sell.
I doubt it - the mining co-ops are just idling their equipment and trying to wait it out.
70.
Post 21486125 (copy this link) (by gog1) (scraped on 2020-04-04_Sat_15.19h):
Time for some consolidation. Now the Chinese exchanges are at a discount to BFX, stamp, coinbase, etc., that has a to act as a drag.
thoughts?