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1  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 17, 2014, 11:35:24 AM
So this wave of panic is over. Some made good money but most as always lost money. People are buying back in again. Most likely with a loss. We're slowly going up again.
So now we wait till next round of China news? So we can repeat this shit all over again? Same whales with insider knowledge make money, the same sheep lose their money and the same bears will be screaming how we will go down to 250 this time.
Is that what everyone wants? It certainly looks like it.

It just totally amazes me. These waves of panic buying and selling have so very few winners and so many losers yet people keep doing it over and over again. Like they never learn.

The news are tightly correlated with the moves - but there would be corrections even without these announcements. It raised $200 during a few days - it is normal that we get a correction. What would you expect - a linear growth to $1000?
2  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 16, 2014, 09:15:00 AM
There was a wedge in Huobi - it broke down in a classic way.
3  Economy / Speculation / Re: So the 15th Is Here on: April 15, 2014, 04:11:52 PM
And now 15th is over in Beijing:

Current Time   Wednesday, 16 April 2014, 00:10:59 CST
4  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 09, 2014, 12:33:50 PM
Maybe this is related to Bitstamp stopping withdrawals until tomorrow?
5  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 02, 2014, 04:15:12 PM
It is past midnight in Beijin - have they already freezed those accounts - so that we can get over China (and the fake volumes)?
6  Economy / Speculation / Re: Chinese exchange BTC38 suspends CNY deposits due to PBOC's policy on: April 02, 2014, 02:27:43 PM
no way to know with that brutal translation. did they ever even support direct bank transfer deposit to begin with?

All you need to know is that the chaos elephant has came - resistance is futile.
7  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 31, 2014, 07:00:42 AM
really starting to believe that statement was an internal memo that got leaked from the pboc on its way to exchanges.. Mind you I'll change my mind if across the board halts come..and then watch them flow to btc-e lol

This is on front page of http://www.btctrade.com/

"Dear user: third-party payment channels received notification today, will be suspended directly online recharge functionality April 1, recharge will continue to use bank transfers, daily transactions and withdrawals are not affected, please understand! 415 for the recent events, Bitcoin transaction network (btctrade.com) yet received any notice, the recent market volatility is large, please investors cautious investment.".

bter has made a similar announcement.

I realize a lot of those who post in this thread has a very hard time accepting reality. Perhaps someone will be kind enough to send you a telex with the memo eventually?

I advise you to accept reality and the fact that some CNY exchanges already confirmed that the PBOC document is real before we re-visit double digits.

For negative stuff isn't it sell on rumours buy on news?
8  Bitcoin / Press / Re: 2013-03-26 Why Bitcoin Can No Longer Work as a Virtual Currency, in 1 Paragraph on: March 27, 2014, 08:08:43 AM
http://www.theatlantic.com/technology/archive/2014/03/why-bitcoin-can-no-longer-work-as-a-virtual-currency-in-1-paragraph/359648/

Quote
The price at which a particular Bitcoin was acquired (and this is traceable) determines the capital gains on that particular Bitcoin when spent.  If I spend Bitcoin A, which I bought at $10, but is now worth $400, I’ve got a very different tax treatment than if I spend Bitcoin B, which I bought at $390. […] This means Bitcoins are not fungible, and that makes it unworkable as a currency.


LOL. How stupid is the author if he doesn't see the benefit of having PROFIT from bitcoin bought at $390 no matter of taxes Smiley
Isn't it obvious that using bitcoins that doubled in price and pay capital gain taxes is anyway better than holding wealth in static dollar bills.


That was just example - it would be the same if you bouth BTC at $390 and then bought coffee with it when it was at $10. And it is also about very small differences - it is a red tape hell.
9  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 26, 2014, 05:12:52 PM
So we are approching the triangle/flag end, is this the up breakout ? *Open eyes*

Here is an Chart I did 2 days ago with updated candles : (check original here : https://www.tradingview.com/v/LWuJblFx/)

I'm wondering if the ask wall @600 on Stamp are real or not.

I am watching the same line here. I think the walls are real and still they will be eaten.

There is another long trend line around 610 - but if 600 goes then it will go past that other one too I think.
10  Economy / Service Discussion / Re: Bitstamp Withdrawal-strange problem on: March 25, 2014, 07:25:23 AM
Isn't the withdrawal 'In process' now? When it is 'In process' - then you cannot use the funds even though they do show up in the account.
11  Economy / Service Discussion / Bitstamp is now so slow on: March 24, 2014, 11:27:22 AM
Is it being DDOSed - or just too many customers?
12  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: March 08, 2014, 11:48:43 AM
What happened? The bitstamp order book looks like shit now. It's been halved since when it was trading in 500s. That's not normal for a true reversal. The bid depth should be continuing to increase every step of the way, not decrease!

The money was spent on panic buys up to 710.
13  Economy / Speculation / Re: The invisible Stamp wall at 560 on: February 26, 2014, 04:50:41 PM
Chart is developing in such a manner that might suggest me being shaken out of my short position

....But looking at the huge crash, followed by the rapid 85% retracement, it would be highly unorthodox for Bitcoin to push on and breach the 610 top from here. TA 101 would suggest that Bitcoin needs to succesfully test its low before confirming trend reversal.

am tempted to call the market movements out as a bull trap, but will have my finger on the trigger incase I am proved wrong.

It looks like it should bounce hard - but the MtGox news are not over yet.
14  Economy / Speculation / Re: Do you really believe gox has lost 740,000 BTC and has only 2,000 left? on: February 25, 2014, 03:10:39 PM
"The cold storage has been wiped out due to a leak in the hot wallet."

BULLSHIT ALERT
Yeah, Wow, Nothing related to the "hot wallet" could have caused a "cold storage" wallet to malfunction in any way shape or form
He's running with the "cold storage" money

can some senior/ advanced member try to explain that?

i do not get how the cold wallet can be affected?

Thats easy: Suppose they have
  • automated withdrawals from cold wallet to hot wallet in case hot has less than X BTC
  • automated deposits to cold wallet from hot wallet in case hot has more than X BTC
  • due to the malleability problem hot wallet constantly shrinks
  • they only check the BTC transactions in their database, and do not double check whether the real BTC holdings are equivalent

Done. With a system like this money from the cold wallet could automatically trickly down into the hot wallet, and nobody noticed anything until it was too late.

That would not be a cold wallet - but with MtGox anything goes.
15  Economy / Speculation / Re: MtGox bankruptcy is one thing but how it happend is just mindboggling on: February 25, 2014, 11:05:32 AM
I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie

Being the first place people hear the news.

That's a big deal for media outfits.

(but Pravda never had to worry about that…)

That would explain not checking the facts - but not a lie.

Anyway it seems that the story is confirmed now and the question that remains is how on Earth for two years MtGox did not check how many bitcoins they have?
16  Economy / Speculation / Re: MtGox bankruptcy is one thing but how it happend is just mindboggling on: February 25, 2014, 10:07:03 AM
Do you believe everything you read in the press?

I have lived in a communist regime - I know that media lie - but I don't see what wired would gain by this lie and they can lose much.

I have been on the internet for some time - I know that people don't check the facts - but I still trust wired fact checking more than T.Stuart from bitcointalk Smiley

And by they way: https://news.ycombinator.com/item?id=7294762 - not much - but it gets a bit more credible for me now.
17  Economy / Speculation / Re: MtGox bankruptcy is one thing but how it happend is just mindboggling on: February 25, 2014, 09:12:22 AM
Hmm - so wired did not check it before publishing?

Here it is in wired: http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/
18  Economy / Speculation / MtGox bankruptcy is one thing but how it happend is just mindboggling on: February 25, 2014, 08:52:19 AM
For 2 years they have never checked their bitcoin assets???!!!

Can we ask other exchanges to do audits?
19  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 07:24:02 AM
Gox realized they have been fleeced after two years - are you guys sure that other exchanges are safe?
20  Economy / Speculation / Re: Capitulation is upon us - IT HAS BEGUN! ~ Shang Tsung ~ on: February 25, 2014, 07:21:26 AM
Capitulation will be when there is no bad news and it still is dropping down.
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