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

[lebing]

I think it's fake, unfortunately.

This link shows the same page:

http://edccdn.com/bitcoin/

Nope, not fake.

http://www.reddit.com/r/Bitcoin/comments/1lruid/so_did_we_figure_out_why_ebay_possibly_made_this/cc24oke

[Rampion]

Not that it matters, but to be clear, I am a Critical Marxist.

Which means I don't play fair.

Taking into account that, among other many things, the very meaning of the world capitalism (=private ownership of means of production) was defined by Marx in "The Capital", its simply a shame that almost nobody under 50 has read that work. You really cannot understand the history of the last 200 years without having read it.

I have read it.

And Marxism, and Capitalism have moved on.

So... You are a capitalist marxist? Wow, that would be a nice evolution indeed

[bitcodo]

When I got the voicemail that was my first concern. I assumed this was a follow up to the locking oft PayPal account and funds being held. I called my friend who introduced me to PayPal in late 2011. I told him that I didn't know if I felt comfortable with making a call like this to discuss a matter that had been settled. He said a call wouldn't hurt.

What do you mean by that? That you didn't know what paypal is before late 2011? Or?

I don't know, edccdn.com registered privately at godaddy, 2 links in, alexa rank 18.000.000 with 3 recipes and a biotcoin article.

Can somebody from US please call them or at least ask at facebook or twitter.

[prophetx]

let's get back on topic rather then mere speculation about paypal using bitcoin

what do you all make of this dead cat bounce, are we going down again or up?

[tarmi]

let's get back on topic rather then mere speculation about paypal using bitcoin

what do you all make of this dead cat bounce, are we going down again or up?

big sales on bitstamp.

no depth, someone tried to pump the price.

I would say down.

[Walsoraj]

If Marx were alive today, he would be forced to admit that the proletariat turned out to be a bunch of pussies who relish alienating labor.

[NewLiberty]

Not that it matters, but to be clear, I am a Critical Marxist.

Which means I don't play fair.

Taking into account that, among other many things, the very meaning of the world capitalism (=private ownership of means of production) was defined by Marx in "The Capital", its simply a shame that almost nobody under 50 has read that work. You really cannot understand the history of the last 200 years without having read it.

Am under 50 and read it, but would recommend Carl Menger over Karl Marx for purposes of understanding.
Though both is better.

[razibuzouzou]

I think it's fake, unfortunately.

This link shows the same page:

http://edccdn.com/bitcoin/

I don't know "edccdn" could easily be "Ebay Deals Co, Content Delivery Network".  Registered godaddy, located in usa.

And on the site, we also have:
http://edccdn.com/tabletdebate/
http://www.edccdn.com/thanksgiving/gt/gourmetthanksgiving.html
http://www.edccdn.com/craftyholiday/

Its just too eclectic -- just like it would be if it was a dumping ground for media associated with a blog.  But of course this is just a blog -- it is implicitly the opinion of the blog author and not really representative.  So I don't think its fake (in the sense that it won't get anyone fired at ebay deals) I just think its probably just a semi-internal drop-box type site.  And best case, it just says that a few people in a very large company are interested in bitcoin.

In case nobody checked out yet, edccdn.com resolves to an IP owned by secureserver.net

Code:

$ host edccdn.com
edccdn.com has address 50.62.68.1

$ host 50.62.68.1
1.68.62.50.in-addr.arpa domain name pointer p3nlhg464c1464.shr.prod.phx3.secureserver.net

That doesn't look very ebay-ish to me... 

[JimboToronto]

what do you all make of this dead cat bounce, are we going down again or up?

The whole downturn was triggered by two 5k-6k dumps while the climb back up was accomplished through many small trades on moderate volume.

I think it's too early to call it either a dead cat bounce or a bear trap.

[Rampion]

Not that it matters, but to be clear, I am a Critical Marxist.

Which means I don't play fair.

Taking into account that, among other many things, the very meaning of the world capitalism (=private ownership of means of production) was defined by Marx in "The Capital", its simply a shame that almost nobody under 50 has read that work. You really cannot understand the history of the last 200 years without having read it.

I have read it.

And Marxism, and Capitalism have moved on.

So... You are a capitalist marxist? Wow, that would be a nice evolution indeed

In the best tradition of Milton Friedman. The grand architect of modern central planning.

Wow, I could write 10 posts about this, but lets respect the other folks as this is heavily OT. We should start a thread perhaps. Let me just tell you that Marx would probably profoundly despise Friedman (and all New Keynesianism, BTW) if he'd be alive. You just cannot believe in a "better" or "heathy" capitalism if you think Marx's analysis is correct. And its a matter of fact that nobody did such a big favor to capitalism as New Keynesianists like Friedman.

Back on topic: I really cannot see where the market is going ATM. Until Gox solves his problems, the spread between exchanges goes back to normal, and people can normally receive their fiat, any kind of technical analysis is just pointless IMO.

[coastermonger]

what do you all make of this dead cat bounce, are we going down again or up?

The whole downturn was triggered by two 5k-6k dumps while the climb back up was accomplished through many small trades on moderate volume.

I think it's too early to call it either a dead cat bounce or a bear trap.

I believe this is essentially correct.  A big part of me wonders why a whale would suddenly want to sell so much on Gox.  Either they're comfortable sitting with the site long term, or they got an inside deal on the withdrawal track, or they just got antsy with 3 days of plateau.   The reality is, many people are still sitting in Gox while it acts out (what could potentially be) a swan song. Over time, I doubt many traders will be comfortable with sitting in fiat there.  

TL;DR - as long as the fiat withdrawal situation is unresolved, there will be tremendous bitcoin buy pressure born of frustration.  The real danger is when it bubbles over a price point where people think it can't be comfortably sustained.

[gandhibt]

I bet gox is in this. They are trading in their own exchange for max short term profit, because they are in deep shit with our fucked up regulations.

[ChartBuddy]

[Nightowlace]

When I got the voicemail that was my first concern. I assumed this was a follow up to the locking oft PayPal account and funds being held. I called my friend who introduced me to PayPal in late 2011. I told him that I didn't know if I felt comfortable with making a call like this to discuss a matter that had been settled. He said a call wouldn't hurt.

What do you mean by that? That you didn't know what paypal is before late 2011? Or?

I don't know, edccdn.com registered privately at godaddy, 2 links in, alexa rank 18.000.000 with 3 recipes and a biotcoin article.

Can somebody from US please call them or at least ask at facebook or twitter.

Haha typo I meant Bitcoin!

[MickeyT2008]

what do you all make of this dead cat bounce, are we going down again or up?

The whole downturn was triggered by two 5k-6k dumps while the climb back up was accomplished through many small trades on moderate volume.

I think it's too early to call it either a dead cat bounce or a bear trap.

I had wondered if we're going to see a repeat of what started happening in May, when after recovering to around $130 BTC got pushed down towards $65 by the 'Sunday dumper' whale.  Since the $65 point it's been being pushed up in much the same way, regularly spaced huge buy ins by a whale.  Maybe it's the same person in both cases and now he's switched back to dumping masses of coins again.  I have no TA reasoning for thinking of this, but I'm not sure that TA is of much use for analysing such behaviour anyway but if there's another mountain of coins dumped next week then I wouldn't be surprised if it continues to happen again for some time.  This is one problem with a small market like BTC, it's easy for one rich person to push the price around at will, to do that to a currency like USD on the Forex market would only be possible for a wealthy country's government to do, not even a corporation as rich as Apple could make much of a dent in USD's value by themselves.

[MickeyT2008]

I'm not sure why people believe that Gox is going bust though.  0.6% of every transaction from both parties has to add up to a small mountain of cash/BTC, definitely more than they could ever have made from Magic the Gathering cards, that's for sure.  They may have lost a lot of cash with the Dwolla incident but I'd expect that they can afford it.

[MPOE-PR]

Nightowlace is a well respected member of the community

+1

I might not write on this thread very often but I've been following it since about page 150 and have read plenty of his posts, I couldn't agree with you more.

Seriously! How does one become a well reprective member of this community after only having registered in April, 2013, and considering the following, which just so happens to coincide with the topic on hand?

So I have been selling my Casascius Coins on ebay and today I get a notice from paypal that my account has been placed on "limited activity" until I provide proof of my business intentions, my AML policy (anti money laundering) and other such documents that I do not have and will never be able to provide. So I am stuck on hold with about $5,000 locked up until someone decides that Casascius Coins are "collectible coins" as I have stated and they are from my own personal collection and I am not acting on behalf of any company. Or until they decide that I am actually acting as a Money Service Business in which case I will be locked down until I can provide all of the required documents.

I honestly can not wait until Bitcoin is they preferred way to pay for transactions.

Faith based on talking. 

[ManBearPig]

Hey MBP, do you have an updated chart perchance?  I loved your take on things.

Hey Cablez, sorry I missed this.

No I haven't but I may as well do one seeing as you ask

[kehtolo]

I'm not sure why people believe that Gox is going bust though.  0.6% of every transaction from both parties has to add up to a small mountain of cash/BTC, definitely more than they could ever have made from Magic the Gathering cards, that's for sure.  They may have lost a lot of cash with the Dwolla incident but I'd expect that they can afford it.

Excellent point MickeyT2008 - I never thought of that.

[telemaco]

10y Bonds at 3% already!

http://www.marketwatch.com/investing/bond/10_year