We are starting to manually send out smaller batches of withdrawal requests while monitoring the bitcoin client's performance. Once we are completely satisfied with the results we will move to fully automated processing again.
Thanks for keeping us updated in here, hazek. You guys are handling the currently difficult situation pretty well, in my opinion. |
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Aaah, the nostalgia. Back when people still thought mtgox would always find a way to get back on its feet. Not this time, friends  They're already 2nd rate in volume, behind bitstamp, btc-e (most of the time) and the Chinese (whose volume is inflated, admittedly), and by this time next year, if they still exist, their volume will be a quarter (or less) of the then leading exchange. |
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Mt Gox is no longer a good metric for bitcoin price IMHO. That said it is not meaningless. Gox still matters, and it might just drag us down with itself. so complaining only on the down side ? No. Your point is valid, but using mtgox data as your main reference for current btc price is beyond silly. Unless you trade on gox. In which case: good luck :) |
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Goes down, I buy more. If this keeps up, I'm gonna be in that lofty 1000 people that own 47% of the coins!
You're looking at a target of around 1100 coins then, according to the 'richest addresses' list. Difficult, but possible to get there, I'd say. |
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serious question - is there anything in the news right now that justifies a sell off?
Missed this mornings activities - what's the reason for the drop this morning?
Where's Blitz when you need him... For the last time, dear newcomers: Price doesn't simply "follow" the news. News might influence it, but not necessarily the way you'd expect it to influence the price (see, for example, the Silk Road news last year, and the rally (!) that followed). Well, anyway... We've been in a down trend for quite a while now, and right now, things are simply picking up speed a bit. By the way, that doesn't mean you should sell now. Every trend ends at some point. tl;dr Learn some basic TA, the world will be less confusing. thanks, yes i understood just wondering if there is anything we may have missed while watching this thread... just tell me when to hit the BUY button, my finger is getting itchy Depends on your overall strategy. You believe this bear market will eventually end? We're going back to the primary trend (the looong exponential trend line) at some point? New ATH, this year, or maybe next? Buy now, I guess. Doesn't really matter if you get +10% coins if the price increase in USD is an entire order of magnitude. You want to trade the swings? Maximize your coin stash? Then probably wait a bit longer  I'd be seriously surprised if we don't at least properly test 600, if not 500 again (stamp prices). If not tonight, then soon. |
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serious question - is there anything in the news right now that justifies a sell off?
Missed this mornings activities - what's the reason for the drop this morning?
Where's Blitz when you need him... For the last time, dear newcomers: Price doesn't simply "follow" the news. News might influence it, but not necessarily the way you'd expect it to influence the price (see, for example, the Silk Road news last year, and the rally (!) that followed). Well, anyway... We've been in a down trend for quite a while now, and right now, things are simply picking up speed a bit. By the way, that doesn't mean you should sell now. Every trend ends at some point. tl;dr Learn some basic TA, the world will be less confusing. |
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Let's test those buyers' resolve on Bitstamp a bit. Just the tip, promised ^__^
Told you. 2 hours, 20 minutes ago. |
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I'll throw this in: the charts continue to look bearish as hell to me, I simply cannot find a sign of reversal in them. Volume analysis (CMF) and bid/ask, on the other hand look very good right now, textbook divergence unfolding there. Make of that what you want.
That's what a bottom or top look like. Full on chart trend marked by divergences. Also, basic situation where we know that btc withdrawals open up people will start buying btc. You're awfully optimistic, huh Like I said, make of it what you want. I'm not calling reversal before I see some corresponding price action. |
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I don't want to get all doom and gloomy, because the malleability problem will eventually get fixed. However, I'm not convinced that the market has come to terms with the "step backwards" that bitcoin usability has just taken. What the malleability attack showed is that it is possible [and in some cases probable] that a zero-confirm transaction will become invalid even if both customer and merchant are honest, and proper fees were paid. This affects the usability of bitcoin at brick-and-mortar stores as I describe here: https://bitcointalk.org/index.php?topic=459678.msg5113081#msg5113081The "fix" that should appear shortly is more of a "work-around." Gmaxwell estimates it will be on the order of a year before the malleability issue is properly resolved. The "work around" prevents wallets from using unconfirmed change outputs, thereby making all zero-confirm transactions in brick-and-mortar stores more trustworthy again. But remember, this degrades usability: there are situations where you may only have unconfirmed change outputs in your mobile wallet, and thus you would not be able to immediately pay for your coffee [see my linked post above]. There's a work-around for this work-around too, and that involves making "smarter" wallets. These smart wallets would ensure that you have a good supply of confirmed coins at your disposal, by breaking up large coins when necessary. The point I'm trying to make is that the malleability issue cannot be easily or quickly fixed, and the work-arounds have consequences themselves and take us a step-backwards in usability. This will all be resolved eventually, but in the meantime, we've presented the forum trolls with an all-you-can-eat smorgasbord of troll food. Solid analysis. Probably wasted in our little trollbox here, though |
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Where do you get this idea from? Can we agree on StochRSI as a decent indicator to settle the question you raise? If so, there's a chance we haven't really started this bear market properly yet. Or are you talking about a much shorter time period? In that case, you might be right.
I'm looking at the daily chart, 3 period RSI. Can see it now. So shorter time frame then. I'm not convinced, though. We've rallied on retardedly overbought conditions, we sure as hell can go downwards on oversold ones |
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Some of you guys keep using that word "manipulators"... princess-bride.jpg Or maybe you mean stuff like the 'adamstgBit' fake accounts... those are not manipulators. Those are imbeciles |
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technically, this is the most extremely oversold condition in the history of bitcoin. i am starting to doubt my 618 target, since it is very questionable that such an oversold condition can persist long enough to achieve 618 organically. the outcome distribution is increasingly bimodal.
Where do you get this idea from? Can we agree on StochRSI as a decent indicator to settle the question you raise? If so, there's a chance we haven't really started this bear market properly yet. Or are you talking about a much shorter time period? In that case, you might be right.  |
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The protocol is broken as far as i know, they will release a statement in the next days.  I´m really startin to worry about Bitcoin. It was overall awesome in the last years, but it seems those days are gone and history. From here on this is a downards spiral :-( It was fun anyways as long as it lasted. GOOD RIDDANCE! See, that' why it was a real mistake to lift the newbie posting restrictions :/ If I were you, I'd report this clown, adam. Pretty sure you can get his account deleted. |
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I understand how it normally would react to eachother but as far as i know Gox prices aren't relevant anymore. It's a non functioning exchange. Why would someone trading on Stamp even pay attention to gox anymore.
Their 24h volume right now is higher than stamp. Over the past 30 days, they're still at about 70% of stamps volume. Sure, like everyone else I hope gox is dying, but you know how those death throes of former giants can kinda still cause quite a bit of damage. If all goes well, we won't be paying attention to gox price anymore in a year from now. But for now, it's hard to ignore completely, considering the amount of coins and USD bound to that black hole. |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Where do you see panic selling? Not on a large scale but obviously people are quickly selling because Gox is going down. I call that panic. Why would people do that. Is there a reason i didn't think of or just pure stupidity? You sound kind of judgmental about that... it's just the market, relax. Remember how Bitstamp, the old bear, kept pulling the rest down when gox was trying a rally? So, now it's the other way around. I don't see sub-500 coins on gox and plus-600 coins on stamp as a stable situation. And right now, it's more likely to resolve downwards then upwards IMO. |
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Ok serious question. Why do people start to panic sell on Stamp when Gox prices go down?
Where do you see panic selling? |
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Let's test those buyers' resolve on Bitstamp a bit. Just the tip, promised ^__^
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I'll throw this in: the charts continue to look bearish as hell to me, I simply cannot find a sign of reversal in them. Volume analysis (CMF) and bid/ask, on the other hand look very good right now, textbook divergence unfolding there. Make of that what you want.
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You have to get rid of Mtgox in Chart !.
Will you fuckin' ban Mt. Gox from your site? I don't even want to explain why.
Could the newbies please pipe it down a bit. You already got an answer by the site owner: Mtgox will be removed if (and only if) over a longer period of time there is essentially no trading going on there anymore. That condition clearly isn't met (yet), so it stays (for now). |
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perhaps HODLERS are beginning to feel the FUD creep in and need this thread to comfort each other and spam "to da mooon"
If most bitcoiners did day trading, bitcoin swings would be insane. Hodlers keep the price somewhat in check. I disagree. I am a holder and sometimes I see the exchange rate increasing too far, too fast (even for Bitcoin). If there was an exchange I could trust, I would be able to decrease volatility by selling some coins when this happens, knowing there will be a violent correction some time in the future. Then when the violent correction occurs, I could repurchase my bitcoins helping reduce the violence of the correction. I would earn additional bitcoins by providing this service (volatility reduction). It seems the "herd" likes to follow others and buy like madmen when the exchange rate is going up, and sell like scared children when the exchange rate is going down. Playing against the herd is how you make money, I don't care how many people say, "The trend is your friend". Unfortunately I don't trust any exchanges, and by holding I add to the volatility of Bitcoin by not being able to act when things get out of control (in either direction). TL;DR: Holders do not add liquidity, which is needed to help reduce volatility. Edit: Oh, regarding the OP: Yes, I'm holding. The current situation is annoying, but it doesn't break Bitcoin. Sorry for those trolls who keep saying it does. Very insightful. And the conclusion that unconditional holding ultimately *adds* to volatility is (sorry if that sounds condescending, it isn't meant like that) especially remarkable since you're a "holder" yourself. |
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