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

[surfer43]

good morning from Europe. What the fuck is the reason for the selloff? Karpeles resigned his foundation seat?

Who really knows?

Maybe magicaltux is pissed at bitcoin and selling his stash

If so, will Mt. Gox shut down sending Bitcoin to the moon (or the floor)?

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[derpinheimer]

Gox resuming downtrend, stamp totally out of steam.

Bleak outlook? Agree?

[Holliday]

The current problem with the BItcoin price is that too few people hold too many coins. (Satoshi has 1 million, FBI has 100K, etc.)
Once more people hold less coins, the price will go up.

When the exchange rate goes up, more people will hold less coins.

[CryptoNames]

Gox twitter account just deleted all of their tweets  

https://twitter.com/MtGox

[molecular]

good morning from Europe. What the fuck is the reason for the selloff? Karpeles resigned his foundation seat?

Who really knows?

Maybe magicaltux is pissed at bitcoin and selling his stash

Still 5k left

oops, yeah. it seemed gone on bitcoinity.

is bitcoinwisdom reachable on a different URL or just gone?

[Holliday]

good morning from Europe. What the fuck is the reason for the selloff? Karpeles resigned his foundation seat?

Who really knows?

Maybe magicaltux is pissed at bitcoin and selling his stash

If so, will Mt. Gox shut down sending Bitcoin to the moon (or the floor)?

It will be painful at first, but better in time.

[Holliday]

Gox twitter account just deleted all of their tweets  

https://twitter.com/MtGox

LOL. People took this company seriously.

[surfer43]

The current problem with the BItcoin price is that too few people hold too many coins. (Satoshi has 1 million, FBI has 100K, etc.)
Once more people hold less coins, the price will go up.

When the exchange rate goes up, more people will hold less coins.

This sounds like adoption/stability issue...  

[derpinheimer]

Gox twitter account just deleted all of their tweets  

https://twitter.com/MtGox

Wow...

It really does seem to be the end?

I totally did not see that coming.

[surfer43]

Gox twitter account just deleted all of their tweets  

https://twitter.com/MtGox

This is the first serious indication there is foul play going on... (not saying there is any, it's just strange...)

[bassclef]

Charlie Shrem (founder of BitInstant) chimes in on Mark's resignation:

http://www.reddit.com/r/Bitcoin/comments/1yre42/mt_gox_ceo_resigns_from_bitcoin_foundation/cfn38sq

This is actually good news. I applaud Mark and the MtGox team for making the right decision as I had to do the same. Speaking very lengthy to Mark and the team over the weekend, I see good news on the horizon for people who have funds stuck in MtGox (I also have funds in MtGox stuck) - Charlie
Edit: Verification: https://twitter.com/CharlieShrem/status/437796742235308032

[surfer43]

People holding Goxcoin: Sell now as insurance. If the buy wall disappears, there is only downward pressure 

[kkaspar]

Smart traders want profit. There are no smart buyers with bitcoin. If someone bought bitcoins when they costed less than 1 dollar without the intention to trade, they are smart. If someone buys bitcoins without the intention to trade and they are worth $1 million next year, then they are smart. If someone bought bitcoins when they were less than a dollar with the intention to trade, then they inevitably sold when they were $10 if they were smart, and therefore are stupid because they lost out on their bitcoins going to 1000 dollars.

Relativity invalidates your argument... like many arguments

To me, it seems common sense, that bitcoin will be obsolete after new developments in coming years, and with that, the units will lose value.
So, I consider someone a fool, if one doesn't think that one has to sell their coins. To me it seems the same, as if people would have told that "Spacewar!" will be the computer game that will be played by everyone for several decades.
I'm quite certain that bitcoin has a relatively short lifespan, but it does introduce the idea of open sourced monetary systems, and this will be placed high in history books.

[Holliday]

Gox twitter account just deleted all of their tweets  

https://twitter.com/MtGox

This is the first serious indication there is foul play going on... (not saying there is any, it's just strange...)

The fact that you can't withdraw fiat or bitcoins from a Bitcoin exchange was the first serious indication that there is foul play going on.

[adamstgBit]

good morning from Europe. What the fuck is the reason for the selloff? Karpeles resigned his foundation seat?

Who really knows?

Maybe magicaltux is pissed at bitcoin and selling his stash

If so, will Mt. Gox shut down sending Bitcoin to the moon (or the floor)?

It will be painful at first, but better in time.

once mtgox is gone and the resulting panic is done....
buying that dip seems like a no brainer to me.

[Holliday]

Smart traders want profit. There are no smart buyers with bitcoin. If someone bought bitcoins when they costed less than 1 dollar without the intention to trade, they are smart. If someone buys bitcoins without the intention to trade and they are worth $1 million next year, then they are smart. If someone bought bitcoins when they were less than a dollar with the intention to trade, then they inevitably sold when they were $10 if they were smart, and therefore are stupid because they lost out on their bitcoins going to 1000 dollars.

Relativity invalidates your argument... like many arguments

To me, it seems common sense, that bitcoin will be obsolete after new developments in coming years, and with that, the units will lose value.
So, I consider someone a fool, if one doesn't think that one has to sell their coins. To me it seems the same, as if people would have told that "Spacewar!" will be the computer game that will be played by everyone for several decades.
I'm quite certain that bitcoin has a relatively short lifespan, but it does introduce the idea of open sourced monetary systems, and this will be placed high in history books.

For Bitcoin to become obsolete, something better will have to take it's place. When something better takes it's place, bitcoin holders will have the opportunity to trade bitcoins for the replacement.

[seleme]

Gox twitter account just deleted all of their tweets  

https://twitter.com/MtGox

wow, hiding stuff for lawsuits?

[derpinheimer]

Thousands of BTC of bids piling up on Gox, suddenly.

Thinking theyre (MTGox) getting bought.

Stamp dropping

[analytics]

LOL gox price is spiking???

[seleme]

Thousands of BTC of bids piling up on Gox, suddenly.

Thinking theyre (MTGox) getting bought.

Stamp dropping

where? at 100$ piece?