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

[fonzie]

Recovery started , led by Gox. Organic & natural.

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[ChartBuddy]

Explanation

[T.Stuart]

Recovery started , led by Gox. Organic & natural.

Led by BTC-e

[T.Stuart]

Is BTC-e the biggest exchange by volume now?

[Sitarow]

For those who may not be aware.

As many have implied, Bitcoin economy has come under speculative pressure not only by new adopters of BTC but of Crypto coins in general.  The "alt-coin" mining landscape have opened up the opportunity for speculative miners have taken up the mine and dump for BTC and then sell for USD strategy. This applies to both SHA256 or Scrypt "alt-coins".

Bitcoin / litecoin have been under pressure in the sense that many speculators have been trading them for the "Flavor of the Day" "scam coins" that have been popping up in the wild.

The return for miners to Jump on this strategy of mining is high when you factor what it costs to get 1BTC using traditional ASIC hardware.

Please review this link below.

http://www.coinwarz.com/cryptocurrency/?sha256HashRate=4500000.00&sha256Power=8000.00&sha256PowerCost=0.1000&scryptHashRate=50000.00&scryptPower=12000.00&scryptPowerCost=0.1000&sha256Check=false&scryptCheck=true

It shows the type of return one could expect running a GPU operation at 50,000 KH/s and what you would get if you just mined and dumped every 24 hours.

With the advent of scrypt ASIC hardware seeming possible some time this year. I wonder how long this strategy will hold until 1 coin scrypt emerges winner.

Yes I may have let the cat out of the bag however I feel people should be informed as to what may be putting added pressure in keeping btc and its "network" at such an undervalued state.

[fonzie]

Newest updates about BTC withdrawl problems on Mt. Gox
https://bitcointalk.org/index.php?topic=429769.0

I think it´s only fair not to discriminate FIAT holders over there, now everyone has to wait(until the end of days ).

I have the same problem, now 48 hours.  I decided to investigate and pulled all the TXs from https://data.mtgox.com/api/0/bitcoin_tx.php - i found my receiving address in there.  I then transmitted all of the transactions to the network.. the outputs on mine and over 200 other ones have already been spent, and the network rejects them immediately.

Seems like a problem with double spending, which would imply a race condition within their code, so no kind of locking in place to prevent this happening.

MtGox - if this could be the case and you need advice on how to prevent it happening, please get in touch with me.  It doesn't matter which programming language you're using for this process I will be able to help you fix it if you need some help.

I don't think Gox are going to take you up on that offer for all kinds of reasons

[ChartBuddy]

Explanation

[BCbitcoin]

Newest updates about BTC withdrawl problems on Mt. Gox
https://bitcointalk.org/index.php?topic=429769.0

I think it´s only fair not to discriminate FIAT holders over there, now everyone has to wait(until the end of days ).

I have the same problem, now 48 hours.  I decided to investigate and pulled all the TXs from https://data.mtgox.com/api/0/bitcoin_tx.php - i found my receiving address in there.  I then transmitted all of the transactions to the network.. the outputs on mine and over 200 other ones have already been spent, and the network rejects them immediately.

Seems like a problem with double spending, which would imply a race condition within their code, so no kind of locking in place to prevent this happening.

MtGox - if this could be the case and you need advice on how to prevent it happening, please get in touch with me.  It doesn't matter which programming language you're using for this process I will be able to help you fix it if you need some help.

I don't think Gox are going to take you up on that offer for all kinds of reasons

Old news. That problem has been there forever. There are multiple websites dedicated to showing these spent output problem transactions.

[solex]

For those who may not be aware.

As many have implied, Bitcoin economy has come under speculative pressure not only by new adopters of BTC but of Crypto coins in general.  The "alt-coin" mining landscape have opened up the opportunity for speculative miners have taken up the mine and dump for BTC and then sell for USD strategy. This applies to both SHA256 or Scrypt "alt-coins".

Bitcoin / litecoin have been under pressure in the sense that many speculators have been trading them for the "Flavor of the Day" "scam coins" that have been popping up in the wild.

The return for miners to Jump on this strategy of mining is high when you factor what it costs to get 1BTC using traditional ASIC hardware.

Please review this link below.

http://www.coinwarz.com/cryptocurrency/?sha256HashRate=4500000.00&sha256Power=8000.00&sha256PowerCost=0.1000&scryptHashRate=50000.00&scryptPower=12000.00&scryptPowerCost=0.1000&sha256Check=false&scryptCheck=true

It shows the type of return one could expect running a GPU operation at 50,000 KH/s and what you would get if you just mined and dumped every 24 hours.

With the advent of scrypt ASIC hardware seeming possible some time this year. I wonder how long this strategy will hold until 1 coin scrypt emerges winner.

Yes I may have let the cat out of the bag however I feel people should be informed as to what may be putting added pressure in keeping btc and its "network" at such an undervalued state.

Indeed. And bitstamp/btce are probably seeing steady sales of coins (via BitPay/Coinbase) because of the major retailers Overstock, TigerDirect, plus Zynga and Shopify who convert coins to fiat straightaway. So, until the customers on those sites are using newly acquired coins more than old coins the selling pressure continues.

[JorgeStolfi]

The CEO of MtGOX is one of the board members of the Bitcoin Foundation...

So who is going to warn the world to stay away from MtGOX?

[smiley123]

For those who may not be aware.

As many have implied, Bitcoin economy has come under speculative pressure not only by new adopters of BTC but of Crypto coins in general.  The "alt-coin" mining landscape have opened up the opportunity for speculative miners have taken up the mine and dump for BTC and then sell for USD strategy. This applies to both SHA256 or Scrypt "alt-coins".

Bitcoin / litecoin have been under pressure in the sense that many speculators have been trading them for the "Flavor of the Day" "scam coins" that have been popping up in the wild.

The return for miners to Jump on this strategy of mining is high when you factor what it costs to get 1BTC using traditional ASIC hardware.

Please review this link below.

http://www.coinwarz.com/cryptocurrency/?sha256HashRate=4500000.00&sha256Power=8000.00&sha256PowerCost=0.1000&scryptHashRate=50000.00&scryptPower=12000.00&scryptPowerCost=0.1000&sha256Check=false&scryptCheck=true

It shows the type of return one could expect running a GPU operation at 50,000 KH/s and what you would get if you just mined and dumped every 24 hours.

With the advent of scrypt ASIC hardware seeming possible some time this year. I wonder how long this strategy will hold until 1 coin scrypt emerges winner.

Yes I may have let the cat out of the bag however I feel people should be informed as to what may be putting added pressure in keeping btc and its "network" at such an undervalued state.

This is interesting, but I would think script ASIC hardware would be more expensive to make which makes me wonder how this will play out in the long run when script difficulty gets close to btc difficulty.

[pickaname]

https://i.imgur.com/Hsw83aQ.gif?1

[ChartBuddy]

Explanation

[gentlemand]

since it's quite boring here, allow me to post something totally OT (probably):

This is an exciting time. Something important is going to happen sometime next month, in February 2014. Nothing can stop it now. There will be an announcement, and the world will change on the date of that announcement. In the beginning, only a few will understand the significance of the announcement, and what it means for all of humanity currently living on this planet. Some will laugh, and some will cry. But in time, the world will come to know that life on Earth changed significantly on that day in February 2014. A mystery that has confused our civilization for thousands of years will find an answer. And from that answer, a new direction for the future growth of our species will arise. No, there will not be Earth changes. No, the ETs will not land. No, the sky will not fall down, and the Earth will not shake. No, President Obama will not reveal...whatever. What will be announced is actually much bigger than all of that. Honest.

Yes, I know something that I am not talking about. I am making a statement of fact, not making a prediction. But the reason for the delay is that much is going on right now. If everything was ready, the announcement would happen tomorrow. But things are not quite ready yet. They will be ready in February.

We will include news of the announcement on this newsletter. But much will happen on my Facebook page, and there are already updates and energetic discussions going on currently on that Facebook page. I want to encourage all who are interested to visit this page and watch and/or participate. You can friend or follow the page as well so that you keep informed. Here is the link:
[https://www.facebook.com/courtney.brown.7568596](https://www.facebook.com/courtney.brown.7568596)

Again, this is an exciting time. The announcement will not be about Earth changes or anything else that would disrupt normal lives. It will be about knew knowledge that will change the way all of humanity thinks of its past, and its present. It will be a moment of profound learning, nothing more, but nothing less. It will mark one of the most important moments in the history of our civilization. Not everyone will agree, but eventually, that is how most people will come to see it.

The greatest changes occur on our planet not because physical things happen, but because new knowledge enters into our consciousness. Some new knowledge is so big, it fills the horizon and changes nearly everything.

Courtney Brown, Ph.D., Director

The Farsight Institute

...and people say bitcoiners are nutjobs...

EDIT: for some context: the farsight institute is trying to use some very strange scientific methods and military-trained people that can somehow see one of several possible futures. Well, it's been a while since I read it. About the most strange stuff I've ever read.

Well, I think the last time an announcement of this magnitude was made, humanity ended up being gifted with the Segway.

[seleme]

180$ gap between Gox and Stamp, lol

[LOADING.READY.RUN]

180$ gap between Gox and Stamp, lol

It's growing rapidly -- yesterday it was still less than 160$

[spooderman]

gox bux AND btc are worth way less. I wish we could just lose that exchange and be done with it.

[flynn]

since it's quite boring here, allow me to post something totally OT (probably):

This is an exciting time. ...(snip)... Courtney Brown, Ph.D., Director

The Farsight Institute

...and people say bitcoiners are nutjobs...

EDIT: for some context: the farsight institute is trying to use some very strange scientific methods and military-trained people that can somehow see one of several possible futures. Well, it's been a while since I read it. About the most strange stuff I've ever read.

Well, I think the last time an announcement of this magnitude was made, humanity ended up being gifted with the Segway.

Maybe they'll announce their FarSightCoin ?

{Edit] Bummer, they don't accept bitcoin donations ...

[ElectricMucus]

lol and Huobi is moving down.

[Searing]

since it's quite boring here, allow me to post something totally OT (probably):

This is an exciting time. ...(snip)... Courtney Brown, Ph.D., Director

The Farsight Institute

...and people say bitcoiners are nutjobs...

EDIT: for some context: the farsight institute is trying to use some very strange scientific methods and military-trained people that can somehow see one of several possible futures. Well, it's been a while since I read it. About the most strange stuff I've ever read.

Well, I think the last time an announcement of this magnitude was made, humanity ended up being gifted with the Segway.

Maybe they'll announce their FarSightCoin ?

hey it is the NSA they are gonna say...."gotcha" do a big crime sweep.....sorry little guys.....you probably we're gonna cheat on your taxes anyway...and "poof it all goes"