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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21649042 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (145 posts by 34 users deleted.)
phoenix1
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April 21, 2013, 03:57:51 PM
 #741


If this goes on I think it will badly damage confidence and the price will go down down down maybe 47.


I definitely not a good thing for Bitcoin. Not saying the price should crash now as a result, just stating the obvious ... that the unreliability, inadequacy and incompetence of the main exchange is not a good advert and makes them vulnerable.

Be very surprised if some of the 'smart money' sitting on the sidelines at the moment is not seriously considering taking a run at them. TBH after all that has just happened, I think that would probably be the best trade at the moment. And the best thing for Bitcoin.
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April 21, 2013, 03:59:57 PM
 #742

Stop whining and use another exchange already.
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April 21, 2013, 04:00:32 PM
 #743

What we're seeing here is that the BTC price is no longer directly pegged to MtGox's lag time.

Call it more of a "weighted peg" now... obviously there is some effect, but panic sells are only fun if they happen once in a while - folks have become desensitized to Gox's antics.

We could dip into 0.110ish, due for a decent correction anyhow. But 62 minutes of lag on Gox won't cause a 62 dollar/btc price drop anymore Grin

Newb investor behavior is pretty funny.
phoenix1
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April 21, 2013, 04:08:35 PM
 #744

Stop whining and use another exchange already.

Yeah ... that would look really good for Bitcoin too ... everybody abandoning Gox 




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April 21, 2013, 04:09:05 PM
 #745

What the heck is going on?  I went to sleep and the price was $125/BTC.  I wake up 6 hours later and the price is $125/BTC!!!!!!

This is madness!


(And just in case: </sarcasm>)
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April 21, 2013, 04:11:28 PM
 #746


If this goes on I think it will badly damage confidence and the price will go down down down maybe 47.


I definitely not a good thing for Bitcoin. Not saying the price should crash now as a result, just stating the obvious ... that the unreliability, inadequacy and incompetence of the main exchange is not a good advert and makes them vulnerable.

Be very surprised if some of the 'smart money' sitting on the sidelines at the moment is not seriously considering taking a run at them. TBH after all that has just happened, I think that would probably be the best trade at the moment. And the best thing for Bitcoin.

It may be a good business, but is a minefield of strict government regulations, hacker attacks, and being at the mercy of bankers. I know I would never do that business. You can gain, but you can lose it all without notice if some bureaucrat wakes up badly and shuts you down.
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April 21, 2013, 04:11:43 PM
 #747

That's because is not updated on bitcoincharts and clark moody almost an hour, on other exchanges BTC is falling :S
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April 21, 2013, 04:14:18 PM
 #748

What the heck is going on?  I went to sleep and the price was $125/BTC.  I wake up 6 hours later and the price is $125/BTC!!!!!!

This is madness!

Nope, sir. It is already 102$ on btc-e, the major (working) BTC exchange.
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April 21, 2013, 04:18:00 PM
 #749

What the heck is going on?  I went to sleep and the price was $125/BTC.  I wake up 6 hours later and the price is $125/BTC!!!!!!

This is madness!

Nope, sir. It is already 102$ on btc-e, the major (working) BTC exchange.

Or $117 on bitstamp. Btc-e has always been way lower than all other exchanges.
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April 21, 2013, 04:18:16 PM
 #750

Stop whining and use another exchange already.

What other exchanges are there?!

Btce is infested with java exploit links and its based in russia. Could use Bitstamp but they might be overwhelmed and get their bank account shut just as it happened with bitfloor, bitcoin24.
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April 21, 2013, 04:19:24 PM
 #751

This doesn't look good at all on BTC-e  Huh

phoenix1
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April 21, 2013, 04:20:41 PM
 #752


If this goes on I think it will badly damage confidence and the price will go down down down maybe 47.


I definitely not a good thing for Bitcoin. Not saying the price should crash now as a result, just stating the obvious ... that the unreliability, inadequacy and incompetence of the main exchange is not a good advert and makes them vulnerable.

Be very surprised if some of the 'smart money' sitting on the sidelines at the moment is not seriously considering taking a run at them. TBH after all that has just happened, I think that would probably be the best trade at the moment. And the best thing for Bitcoin.

It may be a good business, but is a minefield of strict government regulations, hacker attacks, and being at the mercy of bankers. I know I would never do that business. You can gain, but you can lose it all without notice if some bureaucrat wakes up badly and shuts you down.

I hear you, but without a stable exchange infrastructure, the big bucks are not going to truly flow in, in my opinion
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April 21, 2013, 04:21:15 PM
Last edit: April 21, 2013, 04:45:28 PM by DougTanner
 #753

LOL, Btc-e.



I guess Gox will follow when it re-opens... *sigh*

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April 21, 2013, 04:21:52 PM
 #754

Stop whining and use another exchange already.

What other exchanges are there?!

Btce is infested with java exploit links and its based in russia. Could use Bitstamp but they might be overwhelmed and get their bank account shut just as it happened with bitfloor, bitcoin24.

I never ever used mtgox, only bitfloor and bitstamp. More variety is good, but mtgox is just unstable and has a crappy UI so I stick to bitstamp now.
phoenix1
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April 21, 2013, 04:23:26 PM
Last edit: April 21, 2013, 04:35:02 PM by phoenicx1
 #755

Stop whining and use another exchange already.

What other exchanges are there?!

Btce is infested with java exploit links and its based in russia. Could use Bitstamp but they might be overwhelmed and get their bank account shut just as it happened with bitfloor, bitcoin24.

And exactly how safe would you feel with a sizeable balance sitting in a bank in Slovenia, waiting to trade ?
Bitstamp are already unprepared for high volumes of transfers ... when it dumped it took 3 days to get my money in. When things quietened down it was there in less than 24 hours.
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April 21, 2013, 04:39:00 PM
 #756

Stop whining and use another exchange already.
+1
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April 21, 2013, 04:46:16 PM
 #757

So is this more blatantly-obvious manipulation? DDOS Gox and then dump on other exchanges? Then let the panic set in.
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April 21, 2013, 04:50:05 PM
 #758

UPDATE: This again appears to be another strong DDos attack. We are working hard to overcome it and will update when possible. It's currently 2am in Japan so please forgive us if our Facebook/Twitter updates are not as quick, though the team is certainly not taking any breaks. We're very much looking forward to implementing a much stronger solution very soon and will make an announcement to that effect once it's in place.

https://www.facebook.com/MtGox
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April 21, 2013, 04:52:29 PM
 #759

UPDATE: This again appears to be another strong DDos attack. We are working hard to overcome it and will update when possible. It's currently 2am in Japan so please forgive us if our Facebook/Twitter updates are not as quick, though the team is certainly not taking any breaks. We're very much looking forward to implementing a much stronger solution very soon and will make an announcement to that effect once it's in place.

https://www.facebook.com/MtGox

Quote
Scott Murphy Stop fucking with our coins
2 · about a minute ago via mobile
Dmitry Morozhnikov A plain lie. It was not look like ddos.
2 · 2 minutes ago

It seems people stop eating the crud.
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April 21, 2013, 04:54:58 PM
 #760

Never a dull day at MtGox HQ. The DDoSers must be milking every last chance before the big exchanges at CoinLab and CoinSetter arrive, and before BitStamp gets bigger. Once there is more than one big exchange, DDoS of any one will have much less effect. Meanwhile the entire system grows stronger every time it is attacked, with the attackers being rewarded for their services in strengthening the system, effectively paving the way for further growth.

Without the attacks that have been occurring at a billion-dollar market cap, Bitcoin wouldn't be ready for the kinds of attacks that will come at ten and a hundred billion dollars.
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