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

[machasm]

Hi guys,
I am new to this game and have read what must be the last 100 pages of this thread and most of it has sailed right over my head. I like to think that I have some modicum of intelligence but can't for the life of me figure out what has been going on?
What I can say from my point of view as a relative newcomer to this (started mining alt-coins mid Nov and traded to BTC around 3 weeks ago) is that all this uncertainty in the bitcoin protocol can't be a good thing for its future.
It feels like the Wild West with a lot of volatility and people getting shafted left,right and center with a few people doing very well.
Now I know that the concept is great being decentralised and allowing the market to ebb and flow completely freely ( or not in the mtgox scenario) but it would seem that there may need to be some form of regulation to protect investors lest they are all scared shitless!
I have been re-investing my fiat into more mining gear and have a modest 5 BTC which I have been holding on to in the belief that in the future I will recoup my costs at least and might even make a small profit.
I have to say though that my resolve has been severely shaken.
Here's hoping things will improve in the future.

[1715101520]

1715101520

[magicmexican]

Guess we will be testing the prev. bottom again on stamp

[stompix]

That petition has now had 400 signatures!  Looks like Mark's been removed from a few Christmas card lists!

https://www.change.org/en-GB/petitions/petition-to-remove-mark-karpeles-from-the-board-of-the-bitcoin-foundation

With 400 signatures on a petition nothing will change , if there were 4000 maybe some will consider but for 400 of which a few for sure are fakes I don't see anything happening.

[podyx]

Hi guys,
I am new to this game and have read what must be the last 100 pages of this thread and most of it has sailed right over my head. I like to think that I have some modicum of intelligence but can't for the life of me figure out what has been going on?
What I can say from my point of view as a relative newcomer to this (started mining alt-coins mid Nov and traded to BTC around 3 weeks ago) is that all this uncertainty in the bitcoin protocol can't be a good thing for its future.
It feels like the Wild West with a lot of volatility and people getting shafted left,right and center with a few people doing very well.
Now I know that the concept is great being decentralised and allowing the market to ebb and flow completely freely ( or not in the mtgox scenario) but it would seem that there may need to be some form of regulation to protect investors lest they are all scared shitless!
I have been re-investing my fiat into more mining gear and have a modest 5 BTC which I have been holding on to in the belief that in the future I will recoup my costs at least and might even make a small profit.
I have to say though that my resolve has been severely shaken.
Here's hoping things will improve in the future.

I agree it's wild west right now but it's mainly because of the dumb fucks at mtgox

Hopefully in a couple months they will be gone and there will be a new proper US exchange

[lemonte]

That petition has now had 400 signatures!  Looks like Mark's been removed from a few Christmas card lists!

https://www.change.org/en-GB/petitions/petition-to-remove-mark-karpeles-from-the-board-of-the-bitcoin-foundation

With 400 signatures on a petition nothing will change , if there were 4000 maybe some will consider but for 400 of which a few for sure are fakes I don't see anything happening.

Nor do i, but when I originally signed there were about 5. In the space of 48 hours it's had another 395, show's how much Mark has upset people.

[dreamspark]

This could get interesting. The sheep are out in force

[T.Stuart]

http://www.marketoracle.co.uk/Article44455.html

"Craptocurrency"  

I'll tell you what though, I am getting very strong deja-vus of articles I read just before Bitcoin began it's ascent to a new ATH. The feeling is very similar.

[gizmoh]

What if most people on gox have already gone full btc thinking that the low would be 500, 400, 300, 200...? Billy may have dispersed so many coins into the market that btc is going to go lower from here no matter what. If most people are already full btc, with little fiat left, then the price won't go up as much on gox as I expected given that mtgox enables withdrawals again. Instead, arbitrage to other exchanges will be a major factor in leveling the price over the other exchanges because of the major increase in supply caused by Billy. At first I thought that gox enabling withdrawals would cause the price to go from where it is now to 700-900 or even more, and I expected that the other exchanges would follow the price, that there might be some arbitrage to lower the price on other exchanges but after the period of volatility a net increase. Now I think the price is going down no matter whether mtgox enables withdrawals, or says they need more time, or actually goes bankrupt.

seconded. It's highly unlikely for other exchanges to climb up.
I'm still stunned how traders aren't willing to take the lead on stamp.
Guess everyone is hoping for the hypothetical spike to sell if gox re-enable withdrawals.

[N12]

Blame it on MtGox!

 

[RicePicker]

What if most people on gox have already gone full btc thinking that the low would be 500, 400, 300, 200...? Billy may have dispersed so many coins into the market that btc is going to go lower from here no matter what. If most people are already full btc, with little fiat left, then the price won't go up as much on gox as I expected given that mtgox enables withdrawals again. Instead, arbitrage to other exchanges will be a major factor in leveling the price over the other exchanges because of the major increase in supply caused by Billy. At first I thought that gox enabling withdrawals would cause the price to go from where it is now to 700-900 or even more, and I expected that the other exchanges would follow the price, that there might be some arbitrage to lower the price on other exchanges but after the period of volatility a net increase. Now I think the price is going down no matter whether mtgox enables withdrawals, or says they need more time, or actually goes bankrupt.

seconded. It's highly unlikely for other exchanges to climb up.
I'm still stunned how traders aren't willing to take the lead on stamp.
Guess everyone is hoping for the hypothetical spike to sell if gox re-enable withdrawals.

Why do you guys even still believe that Mtgox will re enable withdrawals anytime soon when they can profit from all of this? Its not like they are doing anything illegal. If i were Mark I would leave it locked for months until he is rich enough not to give a fk about anyone else in the world of bitcoins.   

[podyx]

http://www.marketoracle.co.uk/Article44455.html

"Craptocurrency"  

I'll tell you what though, I am getting very strong deja-vus of articles I read just before Bitcoin began it's ascent to a new ATH. The feeling is very similar.

I think it might take a couple months before we see another run up though

The log linear trendline is at $670 or something right now, doubling every 100 days

I think we could see a peak of $2k-$3k before summer and $10k later this year

[TeeBone]

Problem, bulltards ?   

[oda.krell]

So.

Will things get in motion over on stamp?

I kind of think so.

Say bye to 600 for the near future, I suspect.

(EDIT: not that we won't touch it. But I suspect 600 will become resistance, unless something truly magic will happen tomorrow over at gox)

[podyx]

considering selling right here but i still dont think we will go lower $450

would be surprised to see $450

[UnDerDoG81]

Why are we going down on stamp?

[kurious]

Blame it on MtGox!

 

Hmmm... I think blaming Gox for current uncertainties is quite rational and reasonable.

After locking everyone's money in, then finally their BTC too - it is hard to say it is doing Bitcoin much good.

I agree conspiracy theories are all conjecture - but the market's prevailing anxiety is Gox, and for pretty good reasons.

[ChrisML]

What if most people on gox have already gone full btc thinking that the low would be 500, 400, 300, 200...? Billy may have dispersed so many coins into the market that btc is going to go lower from here no matter what. If most people are already full btc, with little fiat left, then the price won't go up as much on gox as I expected given that mtgox enables withdrawals again. Instead, arbitrage to other exchanges will be a major factor in leveling the price over the other exchanges because of the major increase in supply caused by Billy. At first I thought that gox enabling withdrawals would cause the price to go from where it is now to 700-900 or even more, and I expected that the other exchanges would follow the price, that there might be some arbitrage to lower the price on other exchanges but after the period of volatility a net increase. Now I think the price is going down no matter whether mtgox enables withdrawals, or says they need more time, or actually goes bankrupt.

seconded. It's highly unlikely for other exchanges to climb up.
I'm still stunned how traders aren't willing to take the lead on stamp.
Guess everyone is hoping for the hypothetical spike to sell if gox re-enable withdrawals.

Why do you guys even still believe that Mtgox will re enable withdrawals anytime soon when they can profit from all of this? Its not like they are doing anything illegal. If i were Mark I would leave it locked for months until he is rich enough not to give a fk about anyone else in the world of bitcoins.   

Wow, you are such an amazing person. Fuck all, I live alone in my world.

Dumb arse. Ignored.

[inca]

That the fat fuck hasn't halted trading as the price implodes suggests something nefarious. Dropping the price on a major exchange by 80% through inaction the same as directly causing the crash in my book. I am surprised it has taken this long for some sympathetic lemming selling by big guns on the other exchanges.

Ultimately with bitcoin in the public eye, on the verge of entering mainstream adoption this is precisely what we don't want to happen. The market cap of bitcoin is down to just over 5 billion from 8-10.

If i was Mark Karpeles I would be looking over my shoulder for the next few months. People have been murdered for far less.

Silver lining: buying opportunity.

[podyx]

That the fat fuck hasn't halted trading as the price implodes suggests something nefarious. Dropping the price on a major exchange by 80% through inaction the same as directly causing the crash in my book. I am surprised it has taken this long for some sympathetic lemming selling by big guns on the other exchanges.

Ultimately with bitcoin in the public eye, on the verge of entering mainstream adoption this is precisely what we don't want to happen. The market cap of bitcoin is down to just over 5 billion from 8-10.

If i was Mark Karpeles I would be looking over my shoulder for the next few months. People have been murdered for far less.

Silver lining: buying opportunity.

very true

if he keeps going like this, it'll be a time question before he's dead lol

[T.Stuart]

No point panicking. We have to re-test 560 soon at the very least.