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

[virtualfaqs]

Yeah, I hear that. I can't resist shorting a downtrend, though.

Limit shorts triggered at $614 and up but closed already, too much upside risk at the moment.

The correlation to Gox trips me out. On the last big drop, Gox dropped 65%, Bitstamp dropped 16%. We just saw > 200% rise on Gox ... and a 10% rise on Stamp. I think the correlation may continually weaken if/when Gox pushes upwards (e.g. after withdrawals are enabled). That, combined with Gox - Stamp/BTC-E/BFX arbitrage opportunity for the typical GOXasset holders (i.e. not just the limited pool of Bitcoin Builder arbitragers), tells me that those expecting to go to the moon after Gox enables withdrawals may be in for a rude awakening.

The only coin going to the moon after Gox enables BTC withdrawals is Mtgox BTC. The other exchanges will probably lag behind. Then the gap will increase just like before. I have no idea how BTC-E and Bitstamp will react.

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[KeyserSoze]

Like all I have seen is someone on reddit say they thought gox has had sent a few btc someplace.

Then Gmaxwell saying they still have no idea wtf they are doing.

It is clear to the developers observing Gox activities that they are working on the problem.  It is however equally clear that they don't appear to be the most reassuringly competent software engineers.  Please note: I'm British - understatement is in our nature.

The only conclusions I can come up with as to why Mark wouldn't hire more knowledgeable help are:
1) paralyzing paranoia
2) paralyzing thriftiness
3) fear of discovery of some misdeed

#1 seems unlikely but reasonable. His company has his hands on untold treasures. Bitcoin is still a treacherous community.
I'd rule out #2 in all seriousness because there are cheaper coffee brands.
#3 seems frighteningly the most possible to me.

[billyjoeallen]

I took my profits even before the DDOS hit.  The rumour this rally is based on is bull fud and the market will be back close to what it was within 8 hours.

I sold a tiny bit myself, but I'm less confident than you are.

[KeyserSoze]

The sooner this all is over.. the sooner can break that ATH of $1200. $2500 and beyond.

I say the exchanges should get together and just decide to set their price minimum at $2000 and be done with the waiting. Agreed?

[zyk]

Fear.

of what?

The fear that yesterdays fear might have been groundless.

Poeple at bitcoinbuilder don´t think of the bull FUD as groundless...

They are still betting that they gonna recover 60 % in bankruptcy of empty-Gox laywer-fees included.

It can´t get any better - they are no brainer - get in on it

[KeyserSoze]

Anyone ever go back and read the beginning of this thread? How about adams first post?

Posting guild lines:
 Please lets keep this thread clean. ( I will be removing any off topic posts )
 Do not post random comments on this thread, unless it is directly related to the last wall update (ex. The 20K ask was was NOT sold into, it was removed after being tested)
 

How is that working out? 

Even Adam has said this thread has become more of a lounge for whatever conversations and he's fine with it apparently.

[HairyMaclairy]

Ukrainian government has fallen. President has fled. 

[windjc]

Sounds there are a lot of Gox haters on here that are actually rooting for Gox to go insolvent and for people to lose their money. I bought some Goxbux and I am willing to take a full loss on it, however, I would never root for thousands of people to lose their money.

I'm disappointed in some of the posters I enjoy on here - looking at you Smoothie - who seem hell bent on confirming insolvency which, honestly, NO ONE can prove at the moment. The speculation for and against are equally compelling, but the "for insolvency" crowd is 10x louder despite the fact that if your speculation in correct many many more people in the bitcoin community will be hurt.

It's easy enough to deride people's ignorance or choices for having trusted Gox, but at a point it does no one good to continue to ride this horse into the ground.

[MatTheCat]

Sounds there are a lot of Gox haters on here that are actually rooting for Gox to go insolvent and for people to lose their money. I bought some Goxbux and I am willing to take a full loss on it, however, I would never root for thousands of people to lose their money.

I am rooting for you to lose your money.

Bought some Goxcoin?

Great stuff, but you need to buy some more b4 the price goes to da moon when they sort out their minor issues with their software or whatever.

[KeyserSoze]

Does someone wanna tell me what the fuck that rally was about?

Fear.

of what?

My friend, fear is the prime motivator of all things in life. The greatest fear of which is generally death. In this case probably the whale's notice that Gox might have been fixed and that someone would buy before him, then others buying for fear of being left behind. Whn price goes down its fear of of the currency's worthlessness.

[seleme]

The sooner this all is over.. the sooner can break that ATH of $1200. $2500 and beyond.

I say the exchanges should get together and just decide to set their price minimum at $2000 and be done with the waiting. Agreed?

Deal. 

[KeyserSoze]

Ukrainian government has fallen. President has fled.  

Must be bullish for Bitcoin. He will need to hide assets, yes?
Edit: upon 3 seconds of reflection I say Bearish instead. Ukraine is near neighbors with Serbia. Regional instability means Bitstamp could close at any moment. My goodness, I am spreading FUD. Someone stop me!

[windjc]

Sounds there are a lot of Gox haters on here that are actually rooting for Gox to go insolvent and for people to lose their money. I bought some Goxbux and I am willing to take a full loss on it, however, I would never root for thousands of people to lose their money.

I am rooting for you to lose your money.

Bought some Goxcoin?

Great stuff, but you need to buy some more.

I am rooting for you to have a drug overdose.





Not really. But that's how you sound.

At any rate you can root for me to lose money. That's fine. Rooting for the other 1000s. Well, then your just a druggie asshole.

[seleme]

It's funny how one moves on to ever crazier things to trade - that bitcoinbuilder site has some pretty hilarious and predictable swings right now. Owner is making a killing at 2%, approaching 9000 GoxBTC volume in 24h.

It was great idea and he is getting paid for it. Pretty well paid.

[HairyMaclairy]

Ukrainian government has fallen. President has fled. 

Must be bullish for Bitcoin. He will need to hide assets, yes?

No direct impact short term. But their monetary system will be farked.  May be some use for bitcoin for domestic transactions in coming months.  

[windjc]

It's funny how one moves on to ever crazier things to trade - that bitcoinbuilder site has some pretty hilarious and predictable swings right now. Owner is making a killing at 2%, approaching 9000 GoxBTC volume in 24h.

It was great idea and he is getting paid for it. Pretty well paid.

He's not getting rich, but 4% of 9000 is 360btc profit. Good for him.

[Walsoraj]

http://www.reddit.com/r/Bitcoin/comments/1ymwzj/mtgox_still_authoring_invalid_transactions/

This thread is growing and the posts are getting scarier.

[seleme]

Ukrainian government has fallen. President has fled.  

Must be bullish for Bitcoin. He will need to hide assets, yes?
Edit: upon 3 seconds of reflection I say Bearish instead. Ukraine is near neighbors with Serbia. Regional instability means Bitstamp could close at any moment. My goodness, I am spreading FUD. Someone stop me!

Eh, I think you should get some geography classes mate 

[marcus_of_augustus]

Ok, it seems like Karpeles' laptop has finally finished re-indexing the blockchain (took 16 days).

Next, he will re-launch the bash-PHP mash-up script that is the Gox 'trading engine' ... and bitcoin will soar to new ATH.

[aminorex]

Ukrainian government has fallen. President has fled. 

Fled to Kharkiv.  East Ukraine vs. West Ukraine split perhaps?