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

[byronbb]

Time to get into the goxusd to cash business.

[ft73]

Wait a sec now.. so you're saying they gonna pay over 100% annually?
Are these numbers correct?

Not, avg dividend should be around 0.0005 BTC per share / day.
By the moment i posted that more info were provided here: https://bitcointalk.org/index.php?topic=130982.msg2533488#msg2533488
ASICminer revenues within previous dividends were underexistimated.

First partial ASIC dividend i just received was 0.00025224 BTC per share / day.
Holding some, as well as ASICMiner and RSM shares for better diversification.
Sold with good profit the surplus.

[Its About Sharing]

Biggest disparity I have yet seen.

Bitstamp - $105.75
MtGox - $112.20

$6.45 difference, quite telling considering todays news.

I'm a former gox user and now a bitstamp user. To be honest- I trade on Bitstamp because I'm not interested in the drama at Gox and I'm not interested in squeezing every last satoshi of profit out of every price swing. I have a feeling a large number of Bitstamp users feel the same. We will buy and sell when the price suits our interests, but the low volume is just fine. While Gox is $6 above stamp, it feels ephemeral- I'm more convinced it's someone manipulating the market into people raising their buy orders, just to dump on them big time. It's like a cycle. I'm more then happy to sit at $6 below in exchange for a calmer market.

I was really addressing the "manipulation" of Gox (e.g. - Todays wire news) and nothing against Bitstamp. I use them. 
What do you feel about Bitstamp using a Slovenian Bank and the recent problems there? I think they got cash from a sale and we are ok for a few months at least, if not longer.

what sale?

http://www.businessweek.com/news/2013-06-16/mercator-sale-helps-stabilize-slovenian-banks-amid-fiscal-crisis

The sale of Mercator Poslovni Sistem d.d. to Croatia’s Agrokor d.d. will inject needed cash into Slovenian banks, helping stabilize the country’s financial system as it scrambles to avert a bailout, the sellers said.

“A successful sale of Mercator would increase capital inflow to its shareholders, including the financial institutions that need additional capital,” a sellers group said by e-mail on June 14 through Ljubljana-based PR firm Futura. “This would help stabilize Slovenia’s banking system in accordance with European Union demands.”

Slovenia’s two biggest banks, Nova Ljubljanska Banka d.d. and Nova Kreditna Banka Maribor d.d., are among shareholders that on June 14 sold a 53 percent stake in the Balkans’ largest retailer to Zagreb-based Agrokor for 240 million euros ($320 million). Slovenia is working to avoid becoming the six euro-area country to require international aid with a 900 million-euro capital increase to banks as the European Commission warns more cash may be needed.

(It goes on...)

[Richy_T]

Time to get into the goxusd to cash business.

The best bet might be to start a small bank like a credit union that doesn't deal directly with Bitcoin but is designed to support Bitcoin businesses where they need to touch fiat. Maybe make investments be in $ but fees and dividends be in BTC

[hlynur]

I was really addressing the "manipulation" of Gox (e.g. - Todays wire news) and nothing against Bitstamp. I use them.  
What do you feel about Bitstamp using a Slovenian Bank and the recent problems there? I think they got cash from a sale and we are ok for a few months at least, if not longer.

i don't know if you can count on this, but slovenia has left-wing government right now with a female minister at the top and following her statements in the media,
she has a savings-program which is started already before eu commission starts to seize any bank accounts.
on top i suppose the nationalized banks would come first if this happens.
cyprus was another case - an island with very small economy and blown-up financial sector due to their role as a tax haven for greeks and people of other european countries
- even russians had accounts there)
slovenia and its role as a country is another thing. The european commission will pump money in for quite some time before they start seizing their banks.

that's just me talking stuff i read on german newspapers and saw in some documentaries ,
but imo slovenian banks have at least half a year and you will smell the seizure months away in the news before.
(in cyprus they let the seizure get to the news directly before a weekend, so there was lesser slippage)

i would rather be more concerned about bitcoin regulation in europe in general.

[Its About Sharing]

Thanks for the info Hlynur. I'll sleep better. Are you in Germany? (I am)

Anyone notice those trades that just went through? A bit of volume, not a ton, under 1000, but dropped things a bit.

I really wonder when (and if) the selling will begin.

[TheKoziTwo]

Who's the guy on the left?

Mt. Gox chief marketing officer Gonzague Gay-Bouchery

[Frozenlock]

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. 

[ElectricMucus]

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. 

I said 20% spread and I mean it, pump it to 120 already!

[Its About Sharing]

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. 

Does what your getting at rhyme with Brash but sort of have the opposite outcome? 

[hlynur]

Thanks for the info Hlynur. I'll sleep better. Are you in Germany? (I am)

Anyone notice those trades that just went through? A bit of volume, not a ton, under 1000, but dropped things a bit.

I really wonder when (and if) the selling will begin.

yap, germany. buy most of my bitcoins at bitcoin.de and trade on gox from time to time just for the fun of it.
so gox is more for my passion for gambling and i enjoy the show everytime .

[Frozenlock]

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading.  

Does what your getting at rhyme with Brash but sort of have the opposite outcome?  

Me? NooOOOOOooo, I would never...  

I've been asking all day to see who's leaving MtGox, as many people are saying is happening...
I've got a single answer (with limited BTCs).

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."


Also, Bitifinex isn't very liquid. With more than 2k BTC leveraged long, that could take a long time to sell.

[Its About Sharing]

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading.  

Does what your getting at rhyme with Brash but sort of have the opposite outcome?  

Me? NooOOOOOooo, I would never...  

I've been asking all day to see who's leaving MtGox, as many people are saying is happening...
I've got a single answer (with limited BTCs).

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."


Also, Bitifinex isn't very liquid. With more than 2k BTC leveraged long, that could take a long time to sell.

Looks like things just turned. I say 4 days of red candles ahead.

I noticed you mentioned Bitifinex and I looked it up - wasn't aware of them. Very very interesting considering...

Funny about "Oh... It didn't happen... Uh oh..." 

At least my sell point is now above the current Bitstamp price, I felt bad after passing on the 100 bounce I felt...

[oda.krell]

[...]

I was really addressing the "manipulation" of Gox (e.g. - Todays wire news) and nothing against Bitstamp. I use them. 
What do you feel about Bitstamp using a Slovenian Bank and the recent problems there? I think they got cash from a sale and we are ok for a few months at least, (Note that such a "universal" haircut didn't takeif not longer.

I'm on Bitstamp as well, and for obvious reasons I follow the news around the Slovenian banking situation in general and Unicredit Slovenia in particular.

From what I gathered so far (from the news, and through comments by an economist I know who's from Slovenia) Unicredit is uniquely positioned in that they are perhaps the only bank, or at least: the biggest bank in Slovenia to not *directly* be part of the banking crisis. Largely due to the fact that they're a subsidiary of the Italian Unicredit, I guess.

They way I understand it, unless the banking crisis would lead to some sort of *universal* haircut on all bank accounts, including even those of banks that aren't in trouble, the banking crisis is not going to affect Bitstamp operations.

[ardana123]

Looks like things just turned. I say 4 days of red candles ahead.

price drops a few $, prophets immediately predict long term drops
price rises a few $, prophets immediately predict long term raises

bitcoin never changes

[Frozenlock]

LOL!!!

Long squeeze! 

https://www.bitfinex.com/pages/public_log

FORCED EXECUTED @ 103.1(-2.42)

[Marbit]

LOL!!!

Long squeeze! 

https://www.bitfinex.com/pages/public_log

FORCED EXECUTED @ 103.1(-2.42)

Sorry to newb it up here, but could you explain what you're talking about here? 

[Its About Sharing]

Looks like things just turned. I say 4 days of red candles ahead.

price drops a few $, prophets immediately predict long term drops
price rises a few $, prophets immediately predict long term raises

bitcoin never changes

No, not exactly. We had what looked like a shooting star candle (upside down hammer basically) 2 days ago but it didn't form. Then yesterday it was just long wicked one with a decent body. Today is a bit key due to the resistance area(s). Now we are forming that shooting star with good volume (52k), just below resistance.

[Its About Sharing]

LOL!!!

Long squeeze! 

https://www.bitfinex.com/pages/public_log

FORCED EXECUTED @ 103.1(-2.42)

Sorry to newb it up here, but could you explain what you're talking about here? 

I think he means that these guys were heavily margined (and long) and when the price dropped enough, they were "called" and automatically released from there postion. That is an automatic sell for them.

[Jozzaboy]

Good times for the exodus of MTGox. A chance to buy up your panic coins at low, low prices!