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

[gandhibt]

USD out of their gox account.

because of recent news about problems with withdrawal of usd?
or what do you mean?

This might explain it better ... dated today

https://mtgox.com/press_release_20130620.html

"We apologize for any inconvenience this causes our U.S. customers in the meantime, and look forward to resuming withdrawal service as well as debuting a dramatically improved trading engine which will be launching very soon."

Does this mean LTC support at last?

This news doesn't mean necessarily that price will go up on BTC. There are a lot of sellers now who are waiting cheaper prices and they might start selling more if some other people are forced to trade their fiat to BTC.

[Coinseeker]

wow 112$ already.
well somebody pushed that price up really hard.
just in time for america to wake up and rally a little bit.

Awake and not buying.  This is a trap.  Actually looking for the right spot to sell.  Double digits are coming...

[Miz4r]

wow 112$ already.
well somebody pushed that price up really hard.
just in time for america to wake up and rally a little bit.

Awake and not buying.  This is a trap.  Actually looking for the right spot to sell.  Double digits are coming...

The last time you said this we had a rally up to 136. Things are looking good for bitcoin. 

[wonkytonky]

USD out of their gox account.

because of recent news about problems with withdrawal of usd?
or what do you mean?

This might explain it better ... dated today

https://mtgox.com/press_release_20130620.html

thanks...
so the fastest way to get your dollars out of gox is...buying bitcoins and selling them on another exchange with faster withdrawal???.
didn't we have that problem with gox withdrawals already some weeks ago?

yes and it doesnt do anything on the price  basicaly business as usual..

[gizmoh]

Situation is:
There is currently and for the coming 2 weeks NO option to cash out on Gox .
Who is gonna sell now? Not miners or asics companies or those who need cash, only speculators who believe price will correct back. Those who have fiat on gox and are worried about the nonsensical explanation of the press release will want to buy coins and hold or sell at another exchange. Conclusion: more buying than selling will occur.

[hlynur]

wow 112$ already.
well somebody pushed that price up really hard.
just in time for america to wake up and rally a little bit.

Awake and not buying.  This is a trap.  Actually looking for the right spot to sell.  Double digits are coming...

oh...i've thought i ignored you big bad bear already

i know your attitude and i have to admit that it really smells fishy when someone pumps the price 2$ up just in time when US wakes up.
perhaps we'll touch 120$ today but it won't be sustainable when dumping begins.

[Coinseeker]

wow 112$ already.
well somebody pushed that price up really hard.
just in time for america to wake up and rally a little bit.

Awake and not buying.  This is a trap.  Actually looking for the right spot to sell.  Double digits are coming...

The last time you said this we had a rally up to 136. Things are looking good for bitcoin.  

Yup and the 5 times before that, it did exactly what I said.  Things never look good for bitcoin, that's the nature of bitcoin.   

[wonkytonky]

Situation is:
There is currently and for the coming 2 weeks NO option to cash out on Gox .
Who is gonna sell now? Not miners or asics companies or those who need cash, only speculators who believe price will correct back. Those who have fiat on gox and are worried about the nonsensical explanation of the press release will want to buy coins and hold or sell at another exchange. Conclusion: more buying than selling will occur.

i'm sitting on gox with fiat for ages now.. why would 2 weeks make any difference?
maybe sell a bit .. to pay bills on other exchanges sure..    

[samson]

thanks...
so the fastest way to get your dollars out of gox is...buying bitcoins and selling them on another exchange with faster withdrawal???.
didn't we have that problem with gox withdrawals already some weeks ago?

There was a problem with SEPA withdrawals, the option to avoid a lengthy queue was to pay 2000 Yen (only about $20) and send money via an international wire transfer which is usually very quick.

Previous to this there was the Dwolla issue - that wasn't such a big deal as it was mainly used by smaller traders and anyone could still fall back on wire transfers for urgent withdrawals.

Now international wires are suspended it affects everyone including the whales.

I suspect things are going to get interesting.

This press release by MtGox doesn't inspire any confidence for the future.

The phrase 'I will believe it when I see it' springs to mind.

[el_rlee]

https://bitcointalk.org/index.php?topic=179586.msg2329371#msg2329371

[gizmoh]

Situation is:
There is currently and for the coming 2 weeks NO option to cash out on Gox .
Who is gonna sell now? Not miners or asics companies or those who need cash, only speculators who believe price will correct back. Those who have fiat on gox and are worried about the nonsensical explanation of the press release will want to buy coins and hold or sell at another exchange. Conclusion: more buying than selling will occur.

i'm sitting on gox with fiat for ages now.. why would 2 weeks make any difference?
maybe sell a bit .. to pay bills on other exchanges sure..    

Before you had a choice to withdraw ,now you are stuck to look at those figures.
Because Gox is under scrutiny by authorities, and their explanation doesn't hold the line.They are suspending USD withdrawals for 2 weeks, notice United States Dollar only,just to improve the withdrawal process. That's a pretty drastic measure for a process overhaul.

[Miz4r]

wow 112$ already.
well somebody pushed that price up really hard.
just in time for america to wake up and rally a little bit.

Awake and not buying.  This is a trap.  Actually looking for the right spot to sell.  Double digits are coming...

The last time you said this we had a rally up to 136. Things are looking good for bitcoin. 

Yup and the 5 times before that, it did exactly what I said.  Things never look good for bitcoin, that's the nature of bitcoin.   

Sorry but your predictions have always been worthless and are based on nothing but your own cynical and narcissistic thoughts.

[hlynur]

thanks...
so the fastest way to get your dollars out of gox is...buying bitcoins and selling them on another exchange with faster withdrawal???.
didn't we have that problem with gox withdrawals already some weeks ago?

There was a problem with SEPA withdrawals, the option to avoid a lengthy queue was to pay 2000 Yen (only about $20) and send money via an international wire transfer which is usually very quick.

Previous to this there was the Dwolla issue - that wasn't such a big deal as it was mainly used by smaller traders and anyone could still fall back on wire transfers for urgent withdrawals.

Now international wires are suspended it affects everyone including the whales.

I suspect things are going to get interesting.

This press release by MtGox doesn't inspire any confidence for the future.

The phrase 'I will believe it when I see it' springs to mind.

i don't know what to think of this.
imo at some point gox has to figure out a solid way to handle these situations in the longterm as they are still the biggest exchange and
surely want to keep that position.
gox will soon have a better trading engine but they could f**k that up quite hard if they can't get their bank account problems under control.
by comparison every other exchange right now would surrender with trading higher volumes plus struggling with ddos-attacks.
if it takes such a drastic procedure to make fiat withdrawal/deposit more solid i hope gox will really run more smoothly afterwards.
but...it's still gox being the king of goxing after all.


edit: what really concerns me is the absence of cashflow of usd to gox for at least two weeks as deposits are affected in the same way as withdrawals right?

[Coinseeker]

wow 112$ already.
well somebody pushed that price up really hard.
just in time for america to wake up and rally a little bit.

Awake and not buying.  This is a trap.  Actually looking for the right spot to sell.  Double digits are coming...

The last time you said this we had a rally up to 136. Things are looking good for bitcoin.  

Yup and the 5 times before that, it did exactly what I said.  Things never look good for bitcoin, that's the nature of bitcoin.  

Sorry but your predictions have always been worthless and are based on nothing but your own cynical and narcissistic thoughts.

Makes no difference what they are based on, if they are accurate.  Keep living in your delusions. It's not my money.    

I suppose all the Gox/USD talk is good for bitcoin in your world.   Bizarro world, that is. 

[hlynur]

Deposits aren't affected, only withdrawals.

For excatly that reason, price couldn't go otherside that up, i think, no one is gonna sell now

ah..i overread that part of goxnews.

[ElectricMucus]

For excatly that reason, price couldn't go otherside that up, i think, no one is gonna sell now

Flawless logic right there.

Of course that doesn't stop me from selling regardless, getting a better price and hence more fiat to suck out. Not let me stop you from throwing your money into a black hole.
FYI: I left gox long before this whole thing started.

[ChartBuddy]

[EuroTrash]

Is this really that significant? The price might bubble up a little as some speculate, but I feel this is not so major......Maybe $115 over the next couple of days?

At any moment in bitcoinland any service can suddenly vanish. No matter how big the service and no matter how reputable their owners are.
(yeah fuck you James McCarthy. Always fuck you.)

If any of these failures damaged you in the past you are likely not to trust anyone with your coins. And you are ready to pack your bags and go at the first signs of something that doesn't sound right to you.

[ElectricMucus]

For excatly that reason, price couldn't go otherside that up, i think, no one is gonna sell now

Flawless logic right there.

Of course that doesn't stop me from selling regardless, getting a better price and hence more fiat to suck out.

Yeah, i know it's flawless logic, excuse me  

But a little buy pressure for at least a few days is expected, at least i expect it. Some people need cash, so they are gonna buy and sell at other exchanges.

After the two weeks i expect the price to go down again thought.

Ony speculating, but more times i'm wrong that right  

Lemme ask you something: Will you actually wire money to gox under these conditions?
If not: What kind of person do you think would?
If you don't have an answer: What do you think consists of buying "pressure"?

[EuroTrash]

(I know it's not directed to me but in the mood for answering anyway  )

Lemme ask you something: Will you actually wire money to gox under these conditions?

No effing way.

If not: What kind of person do you think would?

Anyone who is willing to take a huge risk. Or anyone who is confident there is no risk.
Fool | mad speculator | insider.

Well there are also a few options that can invalidate the expected sudden spike theory in my own list of possibilities.

1. I underestimated the % of fools.
2. the rumours were there already one week ago, now we have the news.
3. Insider trading already happened. This caused the price spike in the first place.