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Question: Is this the last time we see sub-$10K?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21535751 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. (142 posts by 32 users deleted.)
TsuyokuNaritai
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May 15, 2013, 08:24:51 PM
 #8521

This:

http://www.forbes.com/sites/kashmirhill/2013/05/15/the-feds-are-cracking-down-on-mt-gox-not-on-bitcoin/

Quote
It’s important to note here that Homeland Security is not cracking down on Bitcoin itself, just on how it’s being exchanged by Mt. Gox. This is actually good news for Mt. Gox’s US-based competitors, such as Seattle-based CoinLab and San Francisco-based Coinbase, Bitcoin exchanges that have registered with the Treasury Department as money transmitters and thus are in the legal clear to conduct Bitcoin <—> $ exchanges.
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KillaMarci
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May 15, 2013, 08:25:00 PM
 #8522

It may be the fact that people have a lot of faith in Bitcoin. And since Mt.Gox can't pay out  $'s at the moment they are just holding on to their BTC instead.

It's hard to tell what's going on now since most people can't even get the site to load, but I converted the dollars I had on Gox to BTC and moved them off this morning. I really don't think anything major will come of this Dwolla situation but this morning it was all kinda muddy and I feel better with it in Armory for now.

Move it to Bitstamp. Way nicer interface anyways. Wink
samson
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May 15, 2013, 08:26:40 PM
 #8523

With all this bad news and lag surrounding MtGox, why haven't people been leaving? Is it fear of lower liquidity? Chicken-or-egg problem? Catch-22? (all the same thing I believe)

It may be the fact that people have a lot of faith in Bitcoin. And since Mt.Gox can't pay out  $'s at the moment they are just holding on to their BTC instead.

MtGox can pay out US$'s at the moment via wire transfers.

This is the normal way of making large international payments.
Abandon
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May 15, 2013, 08:27:51 PM
 #8524

Anyone else predict that the price is going to jump once Mt.Gox gets back on its feet?
Frozenlock
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May 15, 2013, 08:29:06 PM
 #8525

I do.

Unfortunately.  Cry
KillaMarci
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May 15, 2013, 08:30:12 PM
 #8526

How the hell am I supposed to sleep tonight...  Roll Eyes Hope Gox gets back soon so I can make a decision...
michaelGedi
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May 15, 2013, 08:30:58 PM
 #8527

This:

http://www.forbes.com/sites/kashmirhill/2013/05/15/the-feds-are-cracking-down-on-mt-gox-not-on-bitcoin/

Quote
It’s important to note here that Homeland Security is not cracking down on Bitcoin itself, just on how it’s being exchanged by Mt. Gox. This is actually good news for Mt. Gox’s US-based competitors, such as Seattle-based CoinLab and San Francisco-based Coinbase, Bitcoin exchanges that have registered with the Treasury Department as money transmitters and thus are in the legal clear to conduct Bitcoin <—> $ exchanges.


good, yes this is what I thought all along, but all the fucking FUD on this thread this time last night got to me after about 3 hours and I did some very stupid things.... now $300 down, luckily still in the same amount of coins.... will hold through any loose fingered crash that might occur as there is too much other positive going on for bitcoin alongside this (probably quite positive) setback...
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May 15, 2013, 08:31:24 PM
 #8528

Anyone else predict that the price is going to jump once Mt.Gox gets back on its feet?

Jump yes, like jumping off the edge of a cliff.
Miz4r
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May 15, 2013, 08:31:41 PM
 #8529

I do.

Unfortunately.  Cry

What? Frozenlock turned bull? This shit is going down! Tongue
KillaMarci
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May 15, 2013, 08:32:07 PM
 #8530

Just saw the huge spike to $116, seems like Gox is back for now. Bought instantly on Bitstamp @ $108 - Quickness is gonna pay off Smiley
Pale Phoenix
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May 15, 2013, 08:32:45 PM
 #8531



Move it to Bitstamp. Way nicer interface anyways. Wink

I've traded on Bitstamp through Bitfinex but I did setup a direct account yesterday and yeah, it is pretty nice. Now onto verification.
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May 15, 2013, 08:34:51 PM
 #8532

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.
Abandon
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May 15, 2013, 08:34:56 PM
 #8533

Just saw the huge spike to $116, seems like Gox is back for now. Bought instantly on Bitstamp @ $108 - Quickness is gonna pay off Smiley

Earlier I routed a few orders through Bitstamp too.
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May 15, 2013, 08:37:17 PM
 #8534

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

For once I think there is a good chance for the price to downtrend some more, that being said...
michaelGedi
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May 15, 2013, 08:37:32 PM
 #8535

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

not at all, just sick of it being one or the other... but let's stop being so conspiracy theorist...

big VCs risking all that money?? you think they wouldn't have looked into this right?
Frozenlock
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May 15, 2013, 08:39:26 PM
 #8536

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

For once I think there is a good chance for the price to downtrend some more, that being said...

Spiked at $116, just saying.  Cheesy
samson
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May 15, 2013, 08:41:00 PM
 #8537

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

I read somewhere else on this forum that Bitpay are probably in the same situation as MtGox with regards to this license.

Risky business, I'd hate to have my funds seized before they made it to a vendor !
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May 15, 2013, 08:42:41 PM
 #8538

Either I am missing something or my guts are made of steel. Why are everybody acting like this minor bump in the road is so catastrophic?
Brushan
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May 15, 2013, 08:42:53 PM
 #8539

I actually think that we're going up. All this shit with MtGox and we only dropped 5%? This shows how stable Bitcoin has become. Imagine this happening a few months ago and what would've happened to the price.
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May 15, 2013, 08:43:12 PM
 #8540

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

For once I think there is a good chance for the price to downtrend some more, that being said...

Spiked at $116, just saying.  Cheesy

A far shot from the 125 resistance, futile.
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