Bitcoin Forum

Bitstamp just announced they found a fix (in cooperation with the foundation Core Devs) for the malleability issue, Withdrawals to resume TODAY. This whole fiasco is now OVER, all exchanges will follow allowing withdrawals very Soon. I'm the only one in the forum saying this but you should be buying now!

There are news also leaked from a reddit source about Gox opening btc withdrawals.

Bistamp Quote:

Dear Bitstamp clients,

A denial-of-service attack caused us to suspend the processing of Bitcoin withdrawals. Bitstamp, with help from the Bitcoin core developers, has implemented a solution that passes our preliminary tests and audits.

After additional testing, we plan to enable Bitcoin withdraws later today.

Thank you for your understanding!

Best regards,

The Bitstamp team

The price just shot up to $630 on stamp, on this news i just posted

can you please put a link to your source on the news, thanks

look at the chart at Bitcoinwisdom, huge buys is rocketing the price upwards since this news!

http://bitcoinwisdom.com/markets/bitstamp/btcusd

i put the quote, otherwise jut go to bitstamp website and read the announcements

I am tring to withdraw from bitstamp and as I asked where are my money here is the answer:

"We received your withdrawal request. As your withdrawal request met some of our volume and frequency thresholds, we will have to kindly ask you to help us better understand the nature of your relationship with Bitstamp. In order to do so, we require that an additional KYC (know your customer) procedure is completed before we can proceed with the processing of your transfer.

We kindly ask you to send us a high resolution image double page of your international passport and answer the following KYC questionnaire:

1. How did you learn about Bitcoin?
2. What is the purpose of your trading on Bitstamp? Please describe in as much detail as possible how you intend to use your trading account.
3. Which bank are you using? Please provide the complete address and SWIFT code.
4. Estimated amount that you would be depositing/withdrawing to/from your Bitstamp account per month (in USD and BTC)?
5. What type of trading will you conduct? Buying/selling/both? Estimated trade volume per month?
6. What is the source of the funds which you are depositing to your Bitstamp account? Please provide any financial documentation which can confirm how the funds sent to your Bitstamp account were acquired.

We kindly ask you to submit your answers and documents in a reply to this ticket."

The have already my document and my bank details. WHAT THE HELL IS GOING ON?????

Source: https://www.bitstamp.net/article/bitcoin-withdrawals-processing-soon/

As much as everyone would like to think this movement is solely based on exchange withdrawal issues, I personally don't believe it is. I believe this is a correction from a severally overbought BTC and we'll be going down further. It was just accelerated by bad news. Guess time will tell.

bitcoin.de is already resumed to withdrawals again :) I bought with my last 100€

It seems this problem is over! Grea News!

I have no doubt the coins will be shuffled about between the speculators today, but at some point don't we have to accept that we have lost an enormous amount of goodwill with potential adopters.  Crashes are one thing, but there is an overwhelming perception now that exchanges are not safe, transactions are not safe and bitcoin is not safe.  The price of a coin is going to have to reduce substantially I think before it attracts new money.  On the plus side I am usually wrong so there is that. 

people are fickle.

Components of the bear market:

1. Millions of coins need to be capitulated. Major profit taking starts when 1W MACD goes down, and doesn't stop until the profit taking is done, despite any news.
2. Hackers have stolen and are dumping coins.
3. China has banned banks and 3rd party payment processors dealing in bitcoin and there was no sudden influx of investors in China on Jan 31 or Feb 8.
4. Russia has outright banned bitcoin.
5. Cyprus issued a bank advisory and btce is potentially at risk.
6. India.
7. Apple removed bitcoin from the app store.
8. Some of what were thought of as major exchanges were weak enough to flashcrash to $100 when the shit hit the fan - this is never before seen.
9. Flaws on Bitfinex have been exploited, traders on Bitfinex have lost money. The staff at Bitfinex showed themselves as bad at responding to issues and unfit to be running an exchange.
10. The market has realized bitcoin and bitcoin service usage is not 100% safe and subject to potential security flaws.
11. The foundation members are not entirely trustworthy.
12. A foundation member was arrested in conjunction with silk road.
13. Men in florida were arrested and received felony money laundering charges for using localbitcoins.
14. There is a reduced trust in exchanges (which have shown themselves as incompetent and are down millions of dollars due to hackers).
15. Silk Road 2 has closed its escrow service.
16. Gox started processing cash withdrawals, fiat is actually exiting the system, and jaded investors are actually leaving the economy altogether.
17. Btce halted fiat withdrawals.
18. Gox and stamp closed btc withdrawals.

So because 1 or 2 of the items in this list are satisfied it means the whole bear market is off and it's back to the moon?  I don't think so... I think perhaps this is that trap with an intermediary 4 hour uptrend I was talking about.

https://i.imgur.com/xNpAv8w.png

You dont say  ::)

move the circle a little bit forward that's where we are  :)

This does not compute. Look how many days have passed so far with this entire thing. Only 12!

https://i.imgur.com/xnMLE90.png

Look, I did get the February rally call wrong, I admit, but you guys who compare this to last spring/summer and believe that it's going to play out precisely the same on a day-by-day basis are nuts!

EDIT: early February rally  ;D

Is that what you call 'emotionally driven trading'?

I think I remember reading somewhere that this was a bad idea.

Bitstamp is rocketing much less upwards on much less volume than it did on Feb 8th bounce. Let's see if it can get up to $720 level and on convincing volume, and then stay there before declaring trend reversals.

I would have loved to have caught the bounce at $538 and was sitting watching it happen and predicted that there would be some kind of reaction at this price point because there is so much dumb money in Bitcoin and it tends to follow the dumb money rules.....but I have vowed to myself to sit out of Bitcoin until trend proves reversal, as I still fear an absolute pig slaughter in this market and I don't want to be in amongst it........one of those times when Bitcoin hits these 'obvious' price whiplash points, it is going to buck the trend and keep smashing right through it. Next 'dumb' price whiplash point is $380 range. Will see how brave I feel if/when it gets down there.


You should just stop commenting on what you think the market is going to do. If you actually managed to convince or influence anyone, you will have hurt them financially pretty bad by now.

That's rich coming from you MTC.

I was butt-hurt bearish from $500 - $700 on December 'market memory' post crash rally. Apart from that, I challenge you to find one time when I have been cheer leading the wrong side of the trade?

Any prediction now MatTheCat ?

You've messed up several shorts by your own admission. I never used these occasions to tell you you'd been hurting other people though!

When I mess up shorts, it is usually through stupid compulsive trades. Addictive behaviour. There was one exception where I felt sure enough to advertise my prediction on the forum. Bitcoin was at $790. I said go long until $815, and then short Bitcoin. This is what I did, but an inexplicable (in my mind) surge of buying power took Bitcoin up to $835. According to rpietila, he initiated the panic buying surge when he make a large purchse on MtGox, in order to get his funds out. He reckons that he sat back in amusement as other whales panic bought on Gox, with the other exchanges following. Since then, Bitcoin has never been so expensive which proves my assertion at the time, that these were pretty fucking dumb buy-ins.

The flip side of that trade (just 2-3 weeks ago), is that if someone had more of a long term mentality to swing trading, an never had a Stop Loss triggered at $820 (like I did), then they would be now quids in on that trade. Like I said, There have only been rare instances when I have been cheer-leading the wrong side of the trade.

I aint shorting anymore. I woke up one day and decided that I didn't trust Bitfinex as a trading platform. Subsequent events have proven my suspicions founded on that one as well.

All fine with me. And I don't think your record number of posts, many including shaky advice to make "compulsive trades", have "financially hurt" anyone.

Probably quite the opposite actually!  ;)

Ahh, it's good to be back after a break!

Ah, can you show me on that chart, where russia forbade using Bitcoin? This looks like a chart of april to july, but we have now february. Different time with different prices.

When is today? When today? ???

Where is this news?

Virwox has already resumed withdrawals

I've contacted bitstamp and they've told me it should be within the next few hours. Def happening today

Good stuff! Price also heading back to $700 already

What about gox?

They say their implementing a solution and will announce a maintenance when it's ready, no time frame given.

"They say their implementing a solution and will announce a maintenance when it's ready, no time frame given."

Translation:

"After Mark stop farting around on his ball chair, they will announce that they will make further announcement. In the meantime, please feel free to dump GoxBtc as much as you can."