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

[klee]

Where's all the big, tough talking bulls at?  BUY why don't you!!   

How is your Ripple investment going? I got in at 5100 and exited frustrated at 7000 (partly to sell BTC high in MtGox as fast as I could - I know I know...)

[1714602087]

1714602087

[dave111223]

Where's all the big, tough talking bulls at?  BUY why don't you!!   

I'm still long term bull, long term this will be a good thing as it will further reduce mt gox market share and hopefully end up with a better distribution of exchanges...

[old_engineer]

Can someone explain to me why, under the certain circumstances, price @MtGox is falling?!?

The selloff started while USA was asleep, so perhaps it's attempted arbitrage by European users: sell out now, withdraw via SEPA (which is still available from Gox), and rebuy on a different exchange in a week or two?  Under the circumstances, new fiat is unlikely to be deposited at Gox, so price won't go up, except perhaps for impatient Americans.  Today's the day we learn who is playing with money they can't afford to lose.

[klee]

Can someone explain to me why, under the certain circumstances, price @MtGox is falling?!?

Same as last week.  Some people believes that there will be another big dump on Sunday 5am, hence causing a big drop in price.

So they are selling all their coins now to hold a short position, then buy back those coins on Sunday after a further price drop.

Don't they know about the 2 weeks USD withdrawal issue? Damn speculators they have so much money they do their habit in MtGox...

[klee]

Can someone explain to me why, under the certain circumstances, price @MtGox is falling?!?

The selloff started while USA was asleep, so perhaps it's attempted arbitrage by European users: sell out now, withdraw via SEPA (which is still available from Gox), and rebuy on a different exchange in a week or two?  Under the circumstances, new fiat is unlikely to be deposited at Gox, so price won't go up, except perhaps for impatient Americans.  Today's the day we learn who is playing with money they can't afford to lose.

This can be true, we will see as you said in a while.

[ft73]

Looks like Gox is going to bottom out in the 104$-105$ area (again).
If today wasn't friday i would have bought there for the usual free ride to 110$, but with WE ahead it's a gamble.

[SGExodus]

Can someone explain to me why, under the certain circumstances, price @MtGox is falling?!?

Same as last week.  Some people believes that there will be another big dump on Sunday 5am, hence causing a big drop in price.

So they are selling all their coins now to hold a short position, then buy back those coins on Sunday after a further price drop.

Don't they know about the 2 weeks USD withdrawal issue? Damn speculators they have so much money they do their habit in MtGox...

It doesn't really matter.   Most serious speculators will have a significant sum of their money at the exchange so that they can react to the market situation swiftly.    

MTGOX is still the exchange with the largest action.    You don't want to spend time loading up the wallet when serious action happens.

[Jozzaboy]

All my bitcoins are back in cold storage. It was fun watching the price rise to 114 but I don't like how things are feeling right now. I'm mentally preparing for a price crash from spooked people (Not that I'm going to join in).

[ardana123]

Can anyone tell me how much mtgox charges for an international wire transfer and a sepa transfer, respectively?

[klee]

https://www.facebook.com/MtGox/posts/484532824964463

Dear Mt. Gox Customers and Bitcoiners,

The reaction since yesterday’s statement regarding the temporary suspension of U.S. dollar withdrawals has had mixed reactions, and raised more than a few questions about why we had to take this step right now. Rather than be subject to inaccurate speculation we’d like to clarify some points here. Due to pending matters we are unable to get into everything in great detail, though we’d certainly love to and are looking forward to the opportunity.

1) The problem with the U.S. withdrawals (and even other currencies for that matter) is that our bank can no longer handle the volume of withdrawals. They struggled in the last two months, and the increase due to the Dwolla separation has made it increasingly more difficult. The pressure we brought onto the bank’s resources finally gave in, and we are now working with them to find an alternative method (hence the suspension). We would have preferred to give notice if we were able to, but it was sudden for us as well.

2) We are now working with new banks and alternative methods for transmitting money to our customers. This does not mean we are stopping entirely within the next two weeks, but it will be slower than we would like. We are literally going to use our manpower to process withdrawals ourselves, manually. This will take more time, but we are dedicated to doing as many per day as possible. We announced a suspension in order to manage expectations while we deliver at a temporary reduced rate. Our goal is to have a new system set up in the next weeks with clarity for both the banks and for our customers.

3) Our previous release was rather vague, but for a reason. Mainly, we don't want to upset our bank! They do great work, but our kind of business is completely new to the banking industry. Processing international wires does not just involve pushing a button. It requires real manpower processing everything individually, even in this modern computer age. While Bitcoin's power lies in its ability to transfer fast and securely through software, the rest of the financial world does not operate like that (contrary to popular opinion). Money is surprisingly analog in many ways, and scarily digital in others.

4) Every customer’s funds are safe, sound, and accounted for. In fact, in our dealings with the Japanese financial regulators we have been assured that we are not under local pressure or suspicion and can operate as usual within normal legal frameworks.

5) Mt. Gox is certainly not a martyr, but it would be hard to argue that we aren’t "taking one for the team" as far as Bitcoin is concerned. We are a big target, and are absorbing the frustrations of Bitcoiners, regulators, banks, and a media that still doesn't quite understand what Bitcoin is. This is a job we are happy to fill, and not just because we are compensated for it. Our hope is that, once Bitcoin finds its place, we will be able to say that we made a difference in sorting it all out in the early days. New exchanges, business models, merchants, traders, and consumers are rising up to innovate and create a whole new way of doing business. A lot of lawyers are getting new cars in the meantime too.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

7) The new trading engine is finished, is smokin’ fast, and is currently undergoing bench tests. We’re looking forward to deploying it very soon.

While not the most in-depth update we'd like to give, we hope that it has at least clarified a few things. In the next few weeks we are planning to do another AMA on Reddit when we’ll hopefully be able to answer many more questions and also shed some light on what’s been going on at Mt. Gox these past months. Thank you for your patience and support.

[spooderman]

How the fuk would gox become insolvent... They're sitting on a goldmine of trading fees alone. You guys really need to stop thinking the worst possible scenarios, I personally think Gox isn't as bad as you guys make it seem. Yes, they have problems, but that's to be expected of an online exchange operating in a novelty area like bitcoin...

GOX is doomed.  The sob stories are going to be classic, as millions evaporate to fund the retirement of Gox executives.

I wouldn't go that far but they certainly have lost a lot of customers and they were partly responsible for the big correction a few months ago.
You reap what you sow, so I think Gox will just lose market share. That is needed.
They have done a lot for BTC, being a leader is very difficult. At least they have been great with security.
It will be nice when the exchanges are more evenly distributed, % wise.

Didn't they lose everyone's password hashes recently? My friend had everything stolen.

If your "friend" did not use 2 step authentication he deserved it.

He did not deserve it. We all make mistakes.

I only found out about the password hashes from a post on here. All gox had to do was send out and email informing customers what had happened and to advise them to change their password.

I'm not just gox bashing for the hell of it, they are not that bad, but this could have been avoided.

All your friend had to do was read his e-mail I guess. They sent multiple e-mails regarding this...

"Dear Mt.Gox user,

Our database has been compromised, including your email. We are working on a
quick resolution and to begin with, your password has been disabled as a
security measure (and you will need to reset it to login again on Mt.Gox).

If you were using the same password on Mt.Gox and other places (email, etc),
you should change this password as soon as possible.

For more details, please see this:

https://support.mtgox.com/entries/20208066-huge-bitcoin-sell-off-due-to-a-compromised-account-rollback

The informations there will be updated as our investigation progresses.

Please accept our apologies for the troubles caused, and be certain we will do
everything we can to keep the funds entrusted with us as secure as possible.


The leaked data includes the following:

- Account number
- Account login
- Email address
- Encrypted password

While the password is encrypted, it is possible to bruteforce most passwords
with time, and it is likely bad people are working on this right now.


Any unauthorized access done to any account you own (email, mtgox, etc) should
be reported to the appropriate authorities in your country.


Thanks,
The Mt.Gox team"

i did not get that mail.. when was this?

I also did not get this mail! And neither did he. You think we would miss something like this?

[Rampion]

Can anyone tell me how much mtgox charges for an international wire transfer and a sepa transfer, respectively?

SEPA transfer around 85€ for biggish amounts (high 4 figures or 5 figures). But I really don't know if it Gox charging it, my bank or their bank. I just know that if I withdraw 10,000€ I receive 9,915€.

Never tried 3 figures or low 4 figures withdrawals, I guess it will be less.

[klee]

https://www.facebook.com/MtGox/posts/484532824964463

Dear Mt. Gox Customers and Bitcoiners,

The reaction since yesterday’s statement regarding the temporary suspension of U.S. dollar withdrawals has had mixed reactions, and raised more than a few questions about why we had to take this step right now. Rather than be subject to inaccurate speculation we’d like to clarify some points here. Due to pending matters we are unable to get into everything in great detail, though we’d certainly love to and are looking forward to the opportunity.

1) The problem with the U.S. withdrawals (and even other currencies for that matter) is that our bank can no longer handle the volume of withdrawals. They struggled in the last two months, and the increase due to the Dwolla separation has made it increasingly more difficult. The pressure we brought onto the bank’s resources finally gave in, and we are now working with them to find an alternative method (hence the suspension). We would have preferred to give notice if we were able to, but it was sudden for us as well.

2) We are now working with new banks and alternative methods for transmitting money to our customers. This does not mean we are stopping entirely within the next two weeks, but it will be slower than we would like. We are literally going to use our manpower to process withdrawals ourselves, manually. This will take more time, but we are dedicated to doing as many per day as possible. We announced a suspension in order to manage expectations while we deliver at a temporary reduced rate. Our goal is to have a new system set up in the next weeks with clarity for both the banks and for our customers.

3) Our previous release was rather vague, but for a reason. Mainly, we don't want to upset our bank! They do great work, but our kind of business is completely new to the banking industry. Processing international wires does not just involve pushing a button. It requires real manpower processing everything individually, even in this modern computer age. While Bitcoin's power lies in its ability to transfer fast and securely through software, the rest of the financial world does not operate like that (contrary to popular opinion). Money is surprisingly analog in many ways, and scarily digital in others.

4) Every customer’s funds are safe, sound, and accounted for. In fact, in our dealings with the Japanese financial regulators we have been assured that we are not under local pressure or suspicion and can operate as usual within normal legal frameworks.

5) Mt. Gox is certainly not a martyr, but it would be hard to argue that we aren’t "taking one for the team" as far as Bitcoin is concerned. We are a big target, and are absorbing the frustrations of Bitcoiners, regulators, banks, and a media that still doesn't quite understand what Bitcoin is. This is a job we are happy to fill, and not just because we are compensated for it. Our hope is that, once Bitcoin finds its place, we will be able to say that we made a difference in sorting it all out in the early days. New exchanges, business models, merchants, traders, and consumers are rising up to innovate and create a whole new way of doing business. A lot of lawyers are getting new cars in the meantime too.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

7) The new trading engine is finished, is smokin’ fast, and is currently undergoing bench tests. We’re looking forward to deploying it very soon.

While not the most in-depth update we'd like to give, we hope that it has at least clarified a few things. In the next few weeks we are planning to do another AMA on Reddit when we’ll hopefully be able to answer many more questions and also shed some light on what’s been going on at Mt. Gox these past months. Thank you for your patience and support.

So... UP or DOWN??

[Sitarow]

[Jozzaboy]

https://www.facebook.com/MtGox/posts/484532824964463

Dear Mt. Gox Customers and Bitcoiners,

The reaction since yesterday’s statement regarding the temporary suspension of U.S. dollar withdrawals has had mixed reactions, and raised more than a few questions about why we had to take this step right now. Rather than be subject to inaccurate speculation we’d like to clarify some points here. Due to pending matters we are unable to get into everything in great detail, though we’d certainly love to and are looking forward to the opportunity.

1) The problem with the U.S. withdrawals (and even other currencies for that matter) is that our bank can no longer handle the volume of withdrawals. They struggled in the last two months, and the increase due to the Dwolla separation has made it increasingly more difficult. The pressure we brought onto the bank’s resources finally gave in, and we are now working with them to find an alternative method (hence the suspension). We would have preferred to give notice if we were able to, but it was sudden for us as well.

2) We are now working with new banks and alternative methods for transmitting money to our customers. This does not mean we are stopping entirely within the next two weeks, but it will be slower than we would like. We are literally going to use our manpower to process withdrawals ourselves, manually. This will take more time, but we are dedicated to doing as many per day as possible. We announced a suspension in order to manage expectations while we deliver at a temporary reduced rate. Our goal is to have a new system set up in the next weeks with clarity for both the banks and for our customers.

3) Our previous release was rather vague, but for a reason. Mainly, we don't want to upset our bank! They do great work, but our kind of business is completely new to the banking industry. Processing international wires does not just involve pushing a button. It requires real manpower processing everything individually, even in this modern computer age. While Bitcoin's power lies in its ability to transfer fast and securely through software, the rest of the financial world does not operate like that (contrary to popular opinion). Money is surprisingly analog in many ways, and scarily digital in others.

4) Every customer’s funds are safe, sound, and accounted for. In fact, in our dealings with the Japanese financial regulators we have been assured that we are not under local pressure or suspicion and can operate as usual within normal legal frameworks.

5) Mt. Gox is certainly not a martyr, but it would be hard to argue that we aren’t "taking one for the team" as far as Bitcoin is concerned. We are a big target, and are absorbing the frustrations of Bitcoiners, regulators, banks, and a media that still doesn't quite understand what Bitcoin is. This is a job we are happy to fill, and not just because we are compensated for it. Our hope is that, once Bitcoin finds its place, we will be able to say that we made a difference in sorting it all out in the early days. New exchanges, business models, merchants, traders, and consumers are rising up to innovate and create a whole new way of doing business. A lot of lawyers are getting new cars in the meantime too.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

7) The new trading engine is finished, is smokin’ fast, and is currently undergoing bench tests. We’re looking forward to deploying it very soon.

While not the most in-depth update we'd like to give, we hope that it has at least clarified a few things. In the next few weeks we are planning to do another AMA on Reddit when we’ll hopefully be able to answer many more questions and also shed some light on what’s been going on at Mt. Gox these past months. Thank you for your patience and support.

So... UP or DOWN??

Return to normal. Good time to make a quick buck

[klee]

108$ just got broken..

[naima53]

An alternative view (also has the right to exist): translatorisch

1) On the weekly chart, the primary support is not touched, the stochastic is about to come out of oversold, the main figure - ascending triangle.



2)Stochastic on the daily chart is about to enter into the overbought zone, MACD cross from the bottom up



3)Now the main ... I shared corrective waves into components (squares). With each new wave of negative volume decreases, less panic. The angles of lines of support are also becoming more acute. Each wave correction has a higher minimum. For me, this means that we are gradually completing the correction from the high $ 266 I would not be surprised if we have a new low in the range of 105 ... 107.



4)Gox  locks fiat at home, so he becomes the sole owner of the course. He just tightens up its market maker at the right time and the bot starts to simulate demand \ randomly offer small amounts, depending on the opinion of Mark probably; D. It is  even visible to the naked eye - when the lemmings of S3052 acting on, the transaction on another look. In the "warm" places too human trafficking looks different. The rest - directional noise.

I do not know what the purpose of Gox, but I would not recommend selling now with leverage "at all" and wait for what is about to come alhalva  

[ardana123]

my lord, what an analysis for something that acts completely random
what a waste of work

[muyuu]

Next stop 150.

[ft73]

my lord, what an analysis for something that acts completely random
what a waste of work

Subjectively, i find that analysis at least interesting.
Objectively, i think we may show some respect for anybody is spending time making analysis and sharing it there.
It makes more sense than posting odd comments.

edit: sorry for orthography :|