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

[Adrian-x]

Something interesting is happening at the moment I think. Gox remove their tweets, relocate their office and that link few pages back saying "light at the end of the tunnel for gox customers". Maybe the exchange really is being sold to some more competent people? We'll see, we'll see.

Indeed, lot of stuff happened in few hours. Resignation from Bitcoin FOundation, tweets deleted, something's going on.

And a huge wall on stamp pushing the price down from $600

[1714718029]

1714718029

[kkaspar]

I was around for the first big wave of video games (hence the mentions above) in the seventies and eighties, which was when the technology was truly brought to the masses. 

So while your analogy holds some water you've also got to remember:
a) an original arcade 'Space Invaders' game is pretty valuable;
b) all the developments since owe something to the original.
c) these developments happened as people became more creative and adventurous -- much the same will happen with BTC.

And since BTC can be upgraded and modified, why would "we" throw it all out and start again.  We stuck with html, we stuck with css.  We tend to upgrade protocols rather than dispose of them.  Don't you think?

I honor your life experience, and I think that:
a) Bitcoin code will be worth in the monetary just about as much as 'Space Invaders' code is worth in todays gaming industry.
b) I agree
c) I also agree, but I don't see the developments happening with BTC, but with new cryptocoins, or virtual coins of any type. It's natural development that the monetary world will evolve with the information network.

I think that the hype can hold BTC up for couple of more volatile years and then we'll have much better code to handle wealth and transactions.
BTC is a nice technological innovation, but it doesn't cover the the basic truths of modern global economy and finance. It was never designed to be this big.
And there is no development towards improving important properties. Most are affected by this "Cult of Satoshi" phenomenon, and think that the proof-of-work 10min method is actually perfect and needs no changing. There are practically 0 hopes for development in that field.
So, I agree, that bitcoin could develop into something more. But when considering the past development and the overall mood of the community, then in my book, it's not smart to bet on that bitcoin will get it's sh*t together. It's more likely that bitcoin will develop into Litecoin/Peercoin, that uses the same code, but just with more developed package. But sadly, I think that the original bitcoin source, won't have much practical value in the future, and it will only hold historical value.

[ThePatient]

Should I wait a fewdays before buying?

[adamstgBit]

Good morning guys, what is up ? did I miss anything, I dont want to go through the last 20 pages so can anyone summarize what is happening ?

10K ask wall get posted, poeple are spooked
5K gets bought
Mark resigned from bitcoin foundation
Mtgox has delete all the tweets they ever made
looks like gox is going under
but there is a glimmer of hope. http://mtgoxtakeover.com/
monday madness is upon us. watch out....

[fotosonics]

Dinner is served.

[coinage]

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

But, commonly overlooked, further down he weakens his stance:

[–]CoinSearcher 8 points 1 hour ago

Charlie, did you ask Mark to publicly prove MtGox's solvency? Its easy to do and MtGox did it before using their internal BTC wallets. Are you concerned that you are being led up the garden path?

[–]Bitcoin_Charlie 2 points 1 hour ago

It's quite possible I am, I really hope not. I never did because I don't think I'm in a position to ask him that, given my current legal situation. I appreciate the communities support!

Direct permalink: http://www.reddit.com/r/Bitcoin/comments/1yre42/mt_gox_ceo_resigns_from_bitcoin_foundation/cfn529y


What we have overall is an expression of optimism but not conviction.

[mmitech]

ok just to sum up with what I said yesterday but some members trashed me really hared :

Good morning there, I didn't sleep till 04:00 Europe time (GMT+1). and just woke up, watching Bitstamp now,so the price went up to 646 !!...how do we translate this?

something worth mentioning is that the MACD is still negative: the 12 period AMA is above the 26 period AMA, there will be a cross over in few hours and the price may drop.

only now it seems that a reversal is possible, the next drop will decide if we continue going down , or if there will be a rally up, of course the Gox situation will complicate things a little bit..

Today :

[adamstgBit]

Should I wait a fewdays before buying?

buy a little now,

and hope to lower your avg price if the market takes a dive.

[molecular]

Atari, lol, those were the times..

yeah baby: [atari console]
should make a trading client for it.

Yars Revenge
Pitfall Harry
Tutankham
I once played a single game of Pacman (flipping the high score a number of times) on Atari from the time I got up until my parents got home. I was afraid they'd get mad I had played the whole day so I shut it off as they pulled in. My eyes still hurt.

lol. I played space-invaders mainly. Took 5 hours to bust new high-score, flipping the counter multiple times.

[sir faps]

"I'm smiling because I have no idea what's going on"

[FullLife]

Good morning guys, what is up ? did I miss anything, I dont want to go through the last 20 pages so can anyone summarize what is happening ?

10K ask wall get posted, poeple are spooked
5K gets bought
Mark resigned from bitcoin foundation
Mtgox has delete all the tweets they ever made
looks like gox is going under
but there is a glimmer of hope. http://mtgoxtakeover.com/
monday madness is upon us. watch out....

Beat me to it, nice summary.

[MANofthePEOPLE]

Why would someone with a huge amount of coins put up walls to keep the price down?

[threecats]

Good morning guys, what is up ? did I miss anything, I dont want to go through the last 20 pages so can anyone summarize what is happening ?

MK resigns from BTF
S/o sets up a 10K wall at $600 which keeps descending downwards but has been nibbled down by 5K
Charlie Shrem says all will be good one day
Everyone panicking
Mat tells everyone here they are fools
Everyone admitting their video gaming indiscretions
Er....that's it
 

    +1

[seleme]

555 defended for now.

[molecular]

Why would someone with a huge amount of coins put up walls to keep the price down?

It's Karpeles. He really wants to sell. Thinks bitcoin is a ponzi-scam.

You know how children react when pushed into corner?

[mmitech]

555 defended for now.

with 28 BTC yes.... lets see how these 28 bitcoins will hold when the whole europe finds out...

[threecats]

1170 to 535 on stamp, but over 2000 on bfx same spread

[seleme]

555 defended for now.

with 28 BTC yes.... lets see how these 28 bitcoins will hold when the whole europe finds out...

bit more tbh, 120-130, but yeah, that's nothing.

[derpinheimer]

ok just to sum up with what I said yesterday but some members trashed me really hared :

Good morning there, I didn't sleep till 04:00 Europe time (GMT+1). and just woke up, watching Bitstamp now,so the price went up to 646 !!...how do we translate this?

something worth mentioning is that the MACD is still negative: the 12 period AMA is above the 26 period AMA, there will be a cross over in few hours and the price may drop.

only now it seems that a reversal is possible, the next drop will decide if we continue going down , or if there will be a rally up, of course the Gox situation will complicate things a little bit..

Totally predicted that 10k ask wall, huh?

[analytics]

Anyone who trusts the words of "Charlie" is dumb.  You don't know if that's really him, and even if it is, is he really home now?   Was his account hacked.  So much incredible FUD.    Ignore every last shred except facts.

Fact.
1.  MtGox shut off their twitter.  

Speculation: 
Twitter shutoff:  Who does that?  Certainly not a company about to fix their issues and not one that was being bailed out.  If they were being bailed out, they would have used twitter to announce it as it needs to be public quickly I would think.

Charlie quotes:are speculative and who knows if it is really even the kid?  Who would be that silly to spread insider information like that so publically when they are already under federal charges.  That's just asking for trouble when you manipulate a market.