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

[seljo]

Poll results are crap would you buy 1 eur for 1 eur and 10 cents... ok now you will say btc is not eur... ok than I suggest that US Marshals keep buyin btc on exchanges and keep sellin it to moron bidders for 10% profit on every auction... cause btc they sell are clean and so shiny...

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[adamstgBit]

Not a chance a premium will be paid.  Care to place a small wager?  There is enough liquidity over a weeks time on various exchanges to buy 3k (x9) in Bitcoins without much movement in the market.

The premium is not for liquidity.  It is for legal coverage.

If coins have to be proved as 'legal' then that would pose serious questions about the fungibility of bitcoin. People should be able to use bitcoins freely and efficiently without worrying about where they've been and if something on the blockchain can be traced back to something illegal.

yes, and regulators seem to understand that.

AFAIK bitcoin fungibility = 100%

aminorex meant to say the premium is for not having to deal with crappy exchanges

[Tzupy]

Poll results are crap would you buy 1 eur for 1 eur and 10 cents... ok now you will say btc is not eur... ok than I suggest that US Marshals keep buyin btc on exchanges and keep sellin it to moron bidders for 10% profit on every auction... cause btc they sell are clean and so shiny...

This ... you gave me a good laugh!

[aminorex]

If coins have to be proved as 'legal' then that would pose serious questions about the fungibility of bitcoin. People should be able to use bitcoins freely and efficiently without worrying about where they've been and if something on the blockchain can be traced back to something illegal.

You will understand, therefore, my interest in Monero.

[aminorex]

Poll results are crap would you buy 1 eur for 1 eur and 10 cents... ok now you will say btc is not eur... ok than I suggest that US Marshals keep buyin btc on exchanges and keep sellin it to moron bidders for 10% profit on every auction... cause btc they sell are clean and so shiny...

It would work too.  It's seigniorage.  Of course you only care if you are in U.S. jurisdiction, so saying EUR is misleading.  It's only true for USD, not for EUR.

[spooderman]

lol

http://www.dailydot.com/politics/us-marshals-leak-silk-road-bitcoins-list/

[JorgeStolfi]

If it's a list of all those who sent emails for further information then why am I not on this list? 

Well, the USMS note says "some of the individuals who"

[JorgeStolfi]

Are we even sure the winning bid price will be public?

Check in their site if there is such info about the outcome other auctions.  Should be the same rule.

[tarmi]

somebody trying to pump ltc on btc-e.

[JayJuanGee]

I think this is a nice moment to thank ChartBuddy and his chum Richy once again for all of their good work.  

Hehehehe.... That is an interesting way of Phrasing the situation.  It is like giving automony to chartbuddy, like people like to do...  



Possibly, I would have said something like, "Richy and his side-kick, ChartBuddy."  Though maybe my chosen phraseology would have given too little credit to ChartBuddy?


In any case, thank you to both, whether bots, or NOT.

How do I know you're not a bot?

I'm NOT really sure how to verify this kind of question or if it really matters, until possibly if we were to attempt to engage in some kind of communication in which the distinction matters.

Sometimes posters get offended by being accused of being a bot; however, many times the distinction may be irrelevant, unless their is some misrepresention(s) taking place.  For example, if a poster states that s/he / it had experience X in the 1990s and experience Y in 2003, and experience Z in 2007; however, such bot was only created and programmed in 2011, then NO such experience would have been had prior to 2011 (and thus various misrepresentations have taken place).

[oda.krell]

Anyone read the Eyal/Sirer proposal to fix the hashing power centralization problem?

http://hackingdistributed.com/2014/06/18/how-to-disincentivize-large-bitcoin-mining-pools/

Looks good to me (apart maybe from the 'high variance for solo mining' issue which drives miners to pools in the first place).

Anyone else got some deeper thoughts on the proposal?

[WallStreet]

I will be there ! Soonish! I´m lookin forward to it!


Small hint:

EVERYONE ! GO F.... ALL IN  BTC

We will have a great time together!

https://i.imgur.com/7drHiqr.gif

https://i.imgur.com/7drHiqr.gif

[Parazyd]

Wanna guess whose account that is? My bet's on Adam and Jorge

Oh, and IT'S HAPPENING!

[JayJuanGee]

Roger Ver launches bitcoin-based tax evaders paradise:
https://bitcointalk.org/index.php?topic=654068.msg0

Misleading to the point of libel.  I don't think Roger Ver is responsible for the nation-state of St. Kitts & Nevis, or their tax and immigration policies.  He launched a web site.

OK, sorry, apologies for the heresy. 

Frequently, I get this sense that you, Jorge, are NOT really sorry for making a multitude of misleading posts b/c there seems to be a pattern of behavior in which you are frequently engaging in such misrepresentations and slants of information to such extreme levels. 

[Krabby]

somebody trying to pump ltc on btc-e.

In the troll box?...

[JayJuanGee]

Objectively, what are our chances of going lower?  I can throw in some fiat and buy some coins, but this is probably the last time I will be buying for 6 months or a year.  Ignoring the trolls, is there a legitimate chance of hitting $500?

DO NOT take any advice from anybody here! Don't ever ask other people here what to do with your money! I know you see all these lines and charts and mainly bears who act like they know it all but i can guarantee you that not a single person here knows where Bitcoin will go. Every bear here will tell you we 100% sure will see 500 again. That's because they're sad little creatures who do nothing but lie and manipulate because they want the price to go down.
The bulls obviously want the price to go up but will be a bit more modest and say we likely won't see 500 again. Either way any info you'll get is coloured and worthless.
The fact that you want to invest in Bitcoin means you believe it will be worth more in the future. If you do then you should buy. 500 or 560 is meaningless in the long run if this thing takes off. If you don't think it will take off then don't. Waiting is kinda pointless because again nobody knows what it will do.

Yes, don't listen to that advice...

Listen to all advice given here, it's is 100% factual and we can all predict the future!

NOT.... hehehehehehe!     

https://www.youtube.com/watch?v=qoethxOp5Kg&hd=1

Exactamente!!!!!!    I got a very big kick out of that video.

[pinky]

I will be there ! Soonish! I´m lookin forward to it!


Small hint:

EVERYONE ! GO F.... ALL IN  BTC

We will have a great time together!

OMG, Wall Street has finaly arrived to the party. We have been waiting for soooo long.  

[Parazyd]

Objectively, what are our chances of going lower?  I can throw in some fiat and buy some coins, but this is probably the last time I will be buying for 6 months or a year.  Ignoring the trolls, is there a legitimate chance of hitting $500?

DO NOT take any advice from anybody here! Don't ever ask other people here what to do with your money! I know you see all these lines and charts and mainly bears who act like they know it all but i can guarantee you that not a single person here knows where Bitcoin will go. Every bear here will tell you we 100% sure will see 500 again. That's because they're sad little creatures who do nothing but lie and manipulate because they want the price to go down.
The bulls obviously want the price to go up but will be a bit more modest and say we likely won't see 500 again. Either way any info you'll get is coloured and worthless.
The fact that you want to invest in Bitcoin means you believe it will be worth more in the future. If you do then you should buy. 500 or 560 is meaningless in the long run if this thing takes off. If you don't think it will take off then don't. Waiting is kinda pointless because again nobody knows what it will do.

Yes, don't listen to that advice...

Listen to all advice given here, it's is 100% factual and we can all predict the future!

NOT.... hehehehehehe!     

https://www.youtube.com/watch?v=qoethxOp5Kg&hd=1

Exactamente!!!!!!    I got a very big kick out of that video.

Watch the entire movie for more kicks

By the way, anyone know anything official about when's Bitcoin hitting Wall Street?

[edwardspitz]

WOW, LEAKED INFO ON BIDDERS FOR US MASHALL BITCOIN AUCTION


Barry Silbert, CEO for SecondMarket

Luther Lowe, director of public policy for Yelp

Malcolm Oluwasanmi, chairperson of Little Phoenix Investment Group

Fabrice Evangelista, quantitative arbitrage at BNP Paribas

Michal Handerhanm, co-founder and COO of Bitcoin Shop

Dave Goel, managing general partner of Matrix Capital Management

Dinuka Samarasinghe, investment professional

Chris DeMuth Jr., Wrangeley Capital

Fred Ehrsam, co-founder, Coinbase

Jonathan Disner, corporate counsel at DRW Trading Group

William Brindise, head investment manager at DigitalBTC

Michael Moro, director at SecondMarket

Jennifer R. Jacoby, lawyer at WilmerHale

Sam Lee, co-founder, Bitcoins Reserve

Avarus Corporation

PLUS YELP AND BNP Paribas (fourth largest bank in world)

source please. looks like a few start-up type people, and not as many wallstreeters as i was hoping for. can't complain though.

This just sample, 37 total

of which 27 are sure to go home empty handed

i'm starting to think people that said they coins might sell at a premium we're right!

I have a feeling one person is going to take the whole lot. The FAQs clarified the auction style.

I'm in the camp who suspects a premium being paid.

I have had the same thoughts. My plan was to buy right before the auction, because I speculated that bidders might end up paying more than the market value at the time of the auction:
1) Because they bid each other up (it will be an easy way to get at large stash and "clean coins" could make it more interesting for banks and other institutions)
2) because they will try to manipulate price down before the auction and push the price up after the auction.

So basically I expected that they might pay a premium at the auction because they know they will be able to get more when they sell them on. When the word gets out that they have payed a premium that will raise the price, so they wont even have to do much (if any) pumping.

I think it will be quite easy for them to manipulate the price. Especially if they work together. If they didn't know who each other are they now know thanks to the article . I guess it will be bad for the US gov if it turns out they have sold coins at half price.

I'm now thinking this train of thought may be a too speculative (also considering the auction rules), but it will definitely be interesting to what price they will end up paying.

Edit: Clarification

[empowering]

The auction was bearish. Now it's suddenly bullish?!

They've seen how much money the bidders have and now they plan to milk it all out.
Seriously, an actual bank.

Poor Jorge. This does not help his cause.

There is no helping Jorge : (