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

[FNG]

A semi large sell and then that 2500 @ 113.65 wall if I remember correctly

[1714581325]

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[Jozzaboy]

this could be the answer to our parys

Are you now resorting to prayer for $180 in 4(?) business days ?! 

I lol'd.

Regardless, I'm expecting the price to return to 110+ now that MTGox made their first professional notification.

[adamstgBit]

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.

Nice!

Thank you MtGox!

[ShroomsKit]

A semi large sell and then that 2500 @ 113.65 wall if I remember correctly

Ok thanks.

[ShroomsKit]

Karpeles will massively sell when it hits LTC/USD=3$

Who is that and how do you know?

[phoenix1]

Dear Mt. Gox Customers and Bitcoiners,

<snip>

Nice!

Thank you MtGox!

No way it's legit ... nobody at Gox could possible write such a professional looking statement  

[ElectricMucus]

"taking one for the team"

hahaha oh wow.

what a joke. 

[inbox]

Essential bitcoin accessory for any bitcoin trader on the go. Buy something nice before the weekend dip.



Let me know if you guys want to organize a group buy. iPhone 4/4s/5 and Samsung s3/s4 available.

https://bitcointalk.org/index.php?topic=239385.msg2542747#msg2542747

[wilfried]

if you switch to euro on mtgox and sell btc, then you got eur, right? eur withdrawal is not suspended? so if us users convert to euros, the bank doesnt have the same work? i´d rather believe us withdrawals are suspended, cause they dont wanna take the risk to wire to the US..

[wachtwoord]

if you switch to euro on mtgox and sell btc, then you got eur, right? eur withdrawal is not suspended? so if us users convert to euros, the bank doesnt have the same work? i´d rather believe us withdrawals are suspended, cause they dont wanna take the risk to wire to the US..

That's nonsense as you can wire Euros to the US as well.

[gizmoh]

if you switch to euro on mtgox and sell btc, then you got eur, right? eur withdrawal is not suspended? so if us users convert to euros, the bank doesnt have the same work? i´d rather believe us withdrawals are suspended, cause they dont wanna take the risk to wire to the US..

That's nonsense as you can wire Euros to the US as well.

If your bank is in Europe then Gox can send you a Sepa transfer,although there are much delay issues..
Swift transfers, whether in Euro or other currencies is in limbo just like USD.

[dexX7]

It's the first time I read about a security breach @Gox, but it's true, that users reported, they received a YubiKey for free. Google shows up nothing and I didn't receive any mail either.

I like their new press release.

Edit: some nice rumors from reddit:

Shopify is adding bitcoin support "soon," says Shopify

Hey *******! Christian here from the Guru team. Glad to help you out….
I have no specific timeline for you other than "soon". We're testing it right now and I've added your email address to the list of people to be notified when it's live.
I hope that helps! If there's anything else I can do for you, please just hit reply!
Christian G., Shopify Guru <his-first-name>@shopify.com

[ardana123]

i got that mail too for a free yubikey, but didn't claim it as i just use google auth

[elux]

Dear Mt. Gox Customers and Bitcoiners,

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.

[Its About Sharing]

Essential bitcoin accessory for any bitcoin trader on the go. Buy something nice before the weekend dip.



Let me know if you guys want to organize a group buy. iPhone 4/4s/5 and Samsung s3/s4 available.

https://bitcointalk.org/index.php?topic=239385.msg2542747#msg2542747

Now, why would anyone want to advertise that they potentially have lots of money on them?

[Kupsi]

i got that mail too for a free yubikey, but didn't claim it as i just use google auth

You can sell the code.

[Richy_T]

Now, why would anyone want to advertise that they potentially have lots of money on them?

Hence the supernode secret handshake.

[BitcoinAshley]

OMG LTC ON GOX IN JULY


BUY BUY BULY BUY BUy bUYBUY

[phoenix1]

Now, why would anyone want to advertise that they potentially have lots of money on them?

Hence the supernode secret handshake.

I think this one is a metaphor 

[Its About Sharing]

Now, why would anyone want to advertise that they potentially have lots of money on them?

Hence the supernode secret handshake.

Richy_T - You made me LOL more than in years past.

This is for you. https://soundcloud.com/ytcracker/ytcracker-bitcoin-baron-v1-ssl

And in honor of this thread, be careful of Gox: