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

[fonzie]

After Satoshis vault, how long do you expect will Bitstamp continue to serve US Customers?
My ETA is <3 months.

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[N12]

They aren't registered with FinCEN as a MSB. Now that they are the largest exchange, attention will probably hit them soon, yes.

[optimi]

that they consider mBTC not worth more than 90 bucks right now

You forgot the "m".

[adsdas]

I wonder how low we will go when the real panic begins

[slovenc]

I wonder how low we will go when the real panic begins

what do you mean ?

[hdbuck]

hello!



 

[optimi]

I wonder how low we will go when the real panic begins

what do you mean ?

He means:

"I want the price to drop so I can buy in cheap."

[dave3k]

180,000 BTC, 143 million days destroyed.

http://www.reddit.com/r/Bitcoin/comments/1zshct/4ee89f7cf824a85ad5f11d52604ffdebe9f01302bcea8ddec0/

[hdbuck]

I wonder how low we will go when the real panic begins

what do you mean ?

He means:

"I want the price to drop so I can buy in cheap."

resignation begins when the price have been quite stable and didnt CCMF for an extended period (all things being relative). Then, people start cash out little by little (because they obviously cant wait anymore or need money to buy sushis), and as a "snowball effect", the price go lower and lower.. eventually, it drops even more rapidly as people reaction to such a downtrend would be selling more and more... hence, panic sell

[optimi]

I wonder how low we will go when the real panic begins

what do you mean ?

He means:

"I want the price to drop so I can buy in cheap."

resignation begins when the price have been quite stable and didnt CCMF for an extended period (all things being relative). Then, people start cash out little by little (because they obviously cant wait anymore or need money to buy sushis), and as a "snowball effect", the price go lower and lower.. eventually, it drops even more rapidly as people reaction to such a downtrend would be selling more and more... hence, panic sell

So, you're saying Wall Street is preparing its entry?

[kkaspar]

The price is dropping after several days of low volume and little interest to buy? How can this be?! This is impossible!
The wizards of drawing lines told that there will be a breakout soon.

[barbs]

wow the selling pressure is intense.

[ShroomsKit]

bitstamp and other markets testing to 645 now, any important news or only testing with more volume than we used to in last week ?

Here it is:

http://www.marketwatch.com/story/japan-decides-bitcoin-is-not-a-currency-2014-03-07?link=MW_latest_news

Headline : "The Japanese government officially said Friday that it doesn’t consider bitcoin to be a currency and has no plans at present to regulate it as a financial product."

Thanks Solarstorm, it seems like its a news allowing to test the lower support indeed.

If it wasn't for the Gox stuff this would normally be bullish news. People in Bitcoin want to have their cake and eat it - no regulation or protection unless it happens to be convenient

The idiots don't care. They're too busy dumping because there might be dumping.

Which is resulting in panic selling. What a surprise.

[hdbuck]

I wonder how low we will go when the real panic begins

what do you mean ?

He means:

"I want the price to drop so I can buy in cheap."

resignation begins when the price have been quite stable and didnt CCMF for an extended period (all things being relative). Then, people start cash out little by little (because they obviously cant wait anymore or need money to buy sushis), and as a "snowball effect", the price go lower and lower.. eventually, it drops even more rapidly as people reaction to such a downtrend would be selling more and more... hence, panic sell

So, you're saying Wall Street is preparing its entry?

Probably. But they aren't rushing blindly into it for sure. Right now, there is nothing that is legitimately boosting the price (besides insiders/whales/fools). Wall street is probably waiting for a clear buy in signal. which could be regulations incentives in the US, mining difficulty jump (as new ASICs are about to flood the market), price crash...

[Solarstorm75]

bitstamp and other markets testing to 645 now, any important news or only testing with more volume than we used to in last week ?

Here it is:

http://www.marketwatch.com/story/japan-decides-bitcoin-is-not-a-currency-2014-03-07?link=MW_latest_news

Headline : "The Japanese government officially said Friday that it doesn’t consider bitcoin to be a currency and has no plans at present to regulate it as a financial product."

Thanks Solarstorm, it seems like its a news allowing to test the lower support indeed.

If it wasn't for the Gox stuff this would normally be bullish news. People in Bitcoin want to have their cake and eat it - no regulation or protection unless it happens to be convenient

From the link:

Any bitcoin transactions are taxable when they fulfill requisitions stated by laws on income tax, corporate tax and consumption tax

If you have to pay VAT on every single trade, that would be very bearish news. But I have no clue, what the statement exactly means.

[elebit]

If you have to pay VAT on every single trade, that would be very bearish news. But I have no clue, what the statement exactly means.

The VAT is applicable to trading fees, since that's what the merchant really charges. At least that was the case in Great Britain until the came around last week.

[kkaspar]

I wonder how low we will go when the real panic begins

what do you mean ?

He means:

"I want the price to drop so I can buy in cheap."

resignation begins when the price have been quite stable and didnt CCMF for an extended period (all things being relative). Then, people start cash out little by little (because they obviously cant wait anymore or need money to buy sushis), and as a "snowball effect", the price go lower and lower.. eventually, it drops even more rapidly as people reaction to such a downtrend would be selling more and more... hence, panic sell

So, you're saying Wall Street is preparing its entry?

Probably. But they aren't rushing blindly into it for sure. Right now, there is nothing that is legitimately boosting the price (besides insiders/whales/fools). Wall street is probably waiting for a clear buy in signal. which could be regulations incentives in the US, mining difficulty jump (as new ASICs are about to flood the market), price crash...

I think that those from wall street who wanted in, are already in. Dreams of bitcoin hitting big at wall street will more probably remain dreams. No serious player will trust their funds into something where he has to hope that unknown Satoshi/drug dealer/computer crackers/confidence men will hold their coins and by that keep the value of bitcoin.
If they want to invest into crypto, then they will start pumping something that has a more transparent history.

[porcupine87]

If you have to pay VAT on every single trade, that would be very bearish news. But I have no clue, what the statement exactly means.

The VAT is applicable to trading fees, since that's what the merchant really charges. At least that was the case in Great Britain until the came around last week.

You have to pay the VAT on every buy on Bitcoin or gold? This seems not to be right...

[niothor]

So we're going down because of Satoshi , Japan or Mtgox coins being moved around?
Or because we are sheeps )))))

[elebit]

You have to pay the VAT on every buy on Bitcoin or gold? This seems not to be right...

That depends on where you live. Different countries have different rules. Some charge VAT, some don't. The trend that more and more contries will make it clear that it is VAT exempt, if I may venture a guess (especially after the UK decision).