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

[keithers]

What do you think? Is Mt. Gox having "Supplier consolidation and failures"? 

It seems to be spot on. Looks like we have much room downards left...

What would be your reasoning for "much room downwards left?"

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[ChartBuddy]

Explanation

[fonzie]

What do you think? Is Mt. Gox having "Supplier consolidation and failures"? 

It seems to be spot on. Looks like we have much room downards left...

What would be your reasoning for "much room downwards left?"

Accordin to the chart we are somewhere between "Negative press begins" and "Supplier consolidation and failures"

[aminorex]

hyperdeflation is the inevitable outcome of bitcoin.

why?  the money supply in btc is stable. 

[Erdogan]

I don't currently have a stake in gox, neither usd nor bitcoin, but my assessment, based on everything, is that they will survive with all funds intact, with a probability of 10 to 1.

[magicmexican]

Even tho Gox slowly dipping, no reaction from stamp and co. yet

[aminorex]

yeah, the good ol´times...

Your posting was not a contribution to the discussion.  It was an effort to thwart meaningful discussion.
As such it is not appreciated.

[Adrian-x]

Still massive dumps of Goxcoins, seems like people think they are worthless after all

as the poll indicates, clearly poeple have very little confidence they will resume withdrawals as promised.

are poeple trading gox on superior information or emotion... that is the question.

<Tinfoil hat>
Gox is dealing with a trojan horse and containing it for now after Bitcoin threatened gold parity the domain of the TPTB.

JP Morgan orchestrated a confidence attack, (with over 100 patent revisions to a Bitcoin competitor filed with the USPTO.) JPM knows Bitcoin inside out. They also trade aggressively to manipulate markets.

They dumped 8000 coins to crash Btc-e to $100 and dumped on Gox while exploiting withdrawal vulnerabilities, funded and published anti Bitcoin articles and studies. And publicly denounced Bitcoin after quizzing Bitcoins lead developer over at the CFR of how patches and development is done in regards to implication of the protocol.

Gox is in damage control containing the contagion, mainly because at the time the attack was planed (after they published an advertisement at the financial G8 conference) they were No.1 by a long shot.
</tinfoil hat>

[aminorex]

Yeah, but the guy who first said that was a tit.

A rather clever tit, however.  A piker at econ, but his treatise on probability was a masterwork at the time.

[billyjoeallen]

hyperdeflation is the inevitable outcome of bitcoin.

why?  the money supply in btc is stable. 

It's only possible to have hyperdeflation when the amount of DEBT denominated in BTC is high. The fractional reserve money multiplier runs in reverse as the loans are either paid back or written off. The only entity that owes a substantial amount of bitcoin right now is Gox...hey...hmmm

[Adrian-x]

Maybe MK will move MtGox to Canada so he'll have another excuse to not sending the BTCs

Even the banks Gox uses in Japan are under international pressure because of possible criminal activity in Bitcoin (I read about car loans to drug dealers almost collapsing Gox's bank a while ago, while HSBC's laundry of over $600 billion gets a slap on the risk.)

I suspect MK has many restraining orders preventing him from disclosing his situation.

Don't get me wrong I thought Gox was a scam after the first crash in 2011 but I feel for the guy despite being so insolent.

If he were in Canada Bitcoin would be on life support.

[jojo69]

<Tinfoil hat>
Gox is dealing with a trojan horse and containing it for now after Bitcoin threatened gold parity the domain of the TPTB.

JP Morgan orchestrated a confidence attack, (with over 100 patent revisions to a Bitcoin competitor filed with the USPTO.) JPM knows Bitcoin inside out. They also trade aggressively to manipulate markets.

They dumped 8000 coins to crash Btc-e to $100 and dumped on Gox while exploiting withdrawal vulnerabilities, funded and published anti Bitcoin articles and studies. And publicly denounced Bitcoin after quizzing Bitcoins lead developer over at the CFR of how patches and development is done in regards to implication of the protocol.

Gox is in damage control containing the contagion, mainly because at the time the attack was planed (after they published an advertisement at the financial G8 conference) they were No.1 by a long shot.
</tinfoil hat>

hmmmmmmm

[wpalczynski]

Get rid of lil'Bush Harper.  He's eroding our freedoms and destroying our environment!

shitty i live in canada.

you need to get rid of Harper.

Amen

[billyjoeallen]

Even the banks Gox uses in Japan are under international pressure because of possible criminal activity in Bitcoin (I read about car loans to drug dealers almost collapsing Gox's bank a while ago, while HSBC's laundry of over $600 billion gets a slap on the risk.[/]

Freudian typo?

[Peter R]

<Tinfoil hat>
Gox is dealing with a trojan horse and containing it for now after Bitcoin threatened gold parity the domain of the TPTB.

JP Morgan orchestrated a confidence attack, (with over 100 patent revisions to a Bitcoin competitor filed with the USPTO.) JPM knows Bitcoin inside out. They also trade aggressively to manipulate markets.

They dumped 8000 coins to crash Btc-e to $100 and dumped on Gox while exploiting withdrawal vulnerabilities, funded and published anti Bitcoin articles and studies. And publicly denounced Bitcoin after quizzing Bitcoins lead developer over at the CFR of how patches and development is done in regards to implication of the protocol.

Gox is in damage control containing the contagion, mainly because at the time the attack was planed (after they published an advertisement at the financial G8 conference) they were No.1 by a long shot.
</tinfoil hat>

hmmmmmmm

I was hit by similar tin-foil hat theory this morning too.  What if Mark is actually being heroic, and none of us on the outside can see the complete picture?  What if he threw bitcoin under the bus [malleability] as cover to lock withdrawals to actually defend against some greater attack?

There must be a rational explanation for the low price and incessant dumping on Gox.  But none of the theories I've heard really make sense.

 

[seleme]

Come on City !!! 

[JayJuanGee]

What if Gox is actually broke and all that selling is just them selling imaginary coins that they dont have to get the last bit of money they can get?

That's the 100 thousand dollar question..... Personally, I suspect that they were engaging in a form of fractional reserve... like is suggested in yesterday's coindesk article:  http://www.coindesk.com/mt-gox-may-headed-bankruptcy/

Accordingly, it is NOT an all or nothing proposition in my thinking.. they have some of the coins... but they are trying to figure out a way to make up for the difference in what they have and what they would have to pay out in the even that there were a run on the bank....   I also believe that currently they are (and likely had been in the past as well) probably engaging in some kinds of insider shenanigans to attempt to make up for the coin balance differences through arbitrage....

[JayJuanGee]

What do you think? Is Mt. Gox having "Supplier consolidation and failures"?  

It seems to be spot on. Looks like we have much room downards left...

We are in the start up companies early stage... so lots of room for upward movement still.  

[JimboToronto]

Get rid of lil'Bush Harper.  He's eroding our freedoms and destroying our environment!

At the risk of invoking Godwin:



I'd rather replace the swastika with the logo of the Regressive Conservative Party.

[mah87]

"We will update everyone again by Thursday at the latest. "


lol