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

[dreamspark]

Starting to struggle now - not many people seem willing to put their bids in front of the wall at this price

Not really. Here and there 50+ btc buys and the bid wall at 602 has increased by 200btc or so a minute ago.

When I look at the volume at btc-e and support to minus 20$, I think the wahles moved to Bitstamp, not btc-e

That would be likely, no ones going to move to move millions to btc-e. You think gox is bad but if btc-e shut down and ran there would be literally no reprucussions and you would never hear from them again.

Oh and I'm sure this guy has unlimited fiat!

[droptable]

rusian stock market: -5 %
russian rubel: all time low

as long as the Crimea-thing (ukrain) is going on the ruble and the Russian stock market will get hit after hit.
And if the EU and US decide to play it hard there will be an impact that will last for years.

Russia "cant" give in since the Crimea is important to their fleet and the geostrategical options for a much bigger region.
The EU "cant" give in, since it would be a new precedent.
So I expect this thing to go on for a while.

What this means for BTC is your call.

[mellowyellow]

BEWARE of the possible, probable impending mega dump!!

You need to re-assess, Mark Karpeles and the blatant manipulation have left the building. These are serious buyers, the UK news is huge, investment money will start pouring in.

By the way, by UK, I mean United Kingdom treating bitcoin as a currency for tax purposes and scrapping VAT on Bitcoin. Not Ukraine, which although is pretty awful for those in the UKraine, Europe has become very good at containing conflict, it would be different if they were already in the EU, then we would be in serious trouble, but I don't think Putin would have risked that.

[seleme]

Now watch him come with another 3000 wall 

[droptable]

  stop making us bitcoiners looks like nerds trading magic cards

 

[seriouscoin]

rusian stock market: -5 %
russian rubel: all time low

as long as the Crimea-thing (ukrain) is going on the ruble and the Russian stock market will get hit after hit.
And if the EU and US decide to play it hard there will be an impact that will last for years.

Russia "cant" give in since the Crimea is important to their fleet and the geostrategical options for a much bigger region.
The EU "cant" give in, since it would be a new precedent.
So I expect this thing to go on for a while.

What this means for BTC is your call.

It means Russia will lay off banning bitcoin for a while...... a long while. Fuck Putin.

[dreamspark]

Would you look at that. Panic sell time !!

[mmitech]

and the dumping starts hahahahha

[barbs]

Bitcoin.

Pump and dump.

Quite sad

[HairyMaclairy]

C'mon bring it on. You can do better than that. Let's see some actual blood.

[Solarstorm75]

Sheeple buy high and sell low. Confirmed!

[Rampion]

So, IMO the big question is not "if" they knew they were short of customer's money because it is painfully obvious THEY KNEW, the big question is: WHERE DID THAT MONEY GO???

$5.5M are held by Department of Home Security (the "Dwolla situation") and $5.3M by Coinlab, that's clear. But where did the rest of the money go, as they are claming they have a hole of $22M? We need to factor in that they have made +$10M in trading fees during the last year, so in reality the missing money is at least $32M...

Crazy stuff, you really can't make this shit up.

This is one of the things I dont understand. Yeah okay missing bitcoins could be stolen etc, but where did all the cash go. I bet they received at least 2-3 million in fiat after they shut btc withdrawals and the price crashed. One guy on here sent 800k alone then there was the other guy who sent 55k. It beggars belief it really does.

I'd bet that the hole was caused by a a few things compounded together:

1) Bad management, eg. considering customer funds as "assets" and thus using them to cover operational expenses believing they would cover that up with fees later on (something similar to what they did by crediting customers accounts with money they did not held in reality as per the Coinlab situation). Maybe they even tried to do some arbitrage and they fucked up - what I know for sure is that incompetence should NEVER be underestimated.

2) Seizures by LE. We know for sure that DHS is holding $5M of Gox's customers money and that $5.3M are held by Coinlab. It doesn't look like there's more than that because in the leaked docs they clearly listed that money (DHS+Coinlab) as "assets", and there was no other entry for other money that could have potentially been held by other parties.

3) Outright stealing. Right now that seems more plausible to me than a few months ago. I always thought Gox was "basically honest", but after seeing their business plan it seems to me they were just a bunch of amateurs playing with third party money like it was their own - that's criminal negligence at best. They were operating an exchange but their accounting looks like the one of a bank, listing customer deposits as assets of the company, like they could use that money to cover their own expenses. That's crazy (and criminal) in my book. At this point I wouldn't be surprised they even took out dividends from the company at some point, while knowing they were running fractional and virtually bankrupt... And that's stealing.

 

[TERA]

very nice beartrap to 581 on finex. increased position again to 60%.

[seleme]

My bears friends, don't get too excited. He got 3k walls eaten earlier at 570, I went to sleep just to wake up 3 hours later at 30$ up and another 3k wall.

[coins101]

This is just the exchanges drumming up a bit of extra trade as the volumes have been a little on the low side recently.  

[hdbuck]

Who panic bought??

[yrtrnc]

BEWARE of the possible, probable impending mega dump!!

You need to re-assess, Mark Karpeles and the blatant manipulation have left the building. These are serious buyers, the UK news is huge, investment money will start pouring in.

By the way, by UK, I mean United Kingdom treating bitcoin as a currency for tax purposes and scrapping VAT on Bitcoin. Not Ukraine, which although is pretty awful for those in the UKraine, Europe has become very good at containing conflict, it would be different if they were already in the EU, then we would be in serious trouble, but I don't think Putin would have risked that.

You spoke too soon my friend!

[TERA]

Who panic bought??

I didn't panic buy; I made the preplanned decision to buy when the downtrend broke.

[HairyMaclairy]

Huobi way behind.

[ShroomsKit]

We go up 20 bucks and people already totally panic and start dumping.