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

[molecular]

guess what, a ton of people were selling coins on loan on Bitswamp (that is how they manipulated the price so low over the last 6 months) ... and now bitswamp has conveniently 'lost' coins ... i.e. the swamp is net short of coins.

go figure, it is not rocket science, someone has been selling non-existent coins and the swamp administered it. Good luck to anybody willing to deal with the swamp, you'll need it.

I never had much love for Bitstump after they told people "You remember those funds you sent us?  We're going to need an identity theft kit from you if you want them back."  IIRC, even Gox gave people fair warning.  I was all done with exchanges before Bitstump came on-line so I was only watching from the sidelines.

no they didn't give fair warning. At least not in my case. Out of nowhere KYC stuff was required to pull my coins (early 2013). Thanks god I pulled out in disgust at that point.

[freebit13]

This is our final warning to create a new model for exchanges.

distributed models like https://bitsquare.io/ could work well.

Hopefully http://www.coinffeine.com/ turns out well...

[NotLambchop]

...
Although I wish loss on noone, there would be something delicious about a certain bear troll with >5000 posts bashing btc finally buying back in at the exact moment bitstamp goes dark

That would be very ironic.

[cbeast]

This is our final warning to create a new model for exchanges.

distributed models like https://bitsquare.io/ could work well.

Hopefully http://www.coinffeine.com/ turns out well...

That 'Holy Grail' project never came to fruition, but Coinffeine is close.

[cbeast]

I see he's still making Schadenfreude cards for Hallmark.

[spooderman]

So is there a rational explanation for what's happened here?

1. 19k coins have been stolen from stamp (how?) and were sold forcing the market to unprecedented lows.
2. Stamp has to buy these coins back.
3. Stamp is pulling a potential gox and is insolvent?

What's going on?

[hdbuck]

LMAO: https://www.youtube.com/watch?v=4FAds5Mz53w

[cbeast]

So is there a rational explanation for what's happened here?

1. 19k coins have been stolen from stamp (how?) and were sold forcing the market to unprecedented lows.
2. Stamp has to buy these coins back.
3. Stamp is pulling a potential gox and is insolvent?

What's going on?

I think this was a timed incident to make Bitcoin look bad for World of Bitcoin. Stamp is very unlikely culpable.

[marvinrouge]

So is there a rational explanation for what's happened here?

1. 19k coins have been stolen from stamp (how?) and were sold forcing the market to unprecedented lows.
2. Stamp has to buy these coins back.
3. Stamp is pulling a potential gox and is insolvent?

What's going on?

1. Hacker just waited for volatility and volume, so the crash was a great opportunity. He didn't sold anything.
2. If Bitstamp has some reserves in BTC, they don't have to buy back anything
3. The case may appear similar to Gox for many of you but it's similar to Bitcoin-central too (which finished well : they were hacked, said they would cover everyone losses, did it, and let everyone withdraw their balances).

[dakota neat]

I don't think the stamp thing will make much of an impact on the price. They handled it in a professional manner so far and the loss is manageable. After Gox nobody is suprised that this things could happen.

[Thomas-s]

Litecoin to Bitstamp? 

[Fatman3001]

So is there a rational explanation for what's happened here?

1. 19k coins have been stolen from stamp (how?) and were sold forcing the market to unprecedented lows.
2. Stamp has to buy these coins back.
3. Stamp is pulling a potential gox and is insolvent?

What's going on?

I think this was a timed incident to make Bitcoin look bad for World of Bitcoin. Stamp is very unlikely culpable.

Cut off the head and the body will die. It is not unimaginable that Kreml or Berlin had something to do with this. But I fear it's a couple of geeks in Bratislava or Sofia who now can retire at the age of 33.

[Fatman3001]

I don't think the stamp thing will make much of an impact on the price. They handled it in a professional manner so far and the loss is manageable. After Gox nobody is suprised that this things could happen.

Banks have security breaches regularly. I hope stamp learns from this, but they are still probably the most competent in the field.

[cbeast]

If I were in Vegas, I'd be wearing a honey badger shirt.

[ChartBuddy]

Explanation

[spooderman]

Come on BartChuddy, do the work you know u gotta do.

[tarmi]

So is there a rational explanation for what's happened here?

1. 19k coins have been stolen from stamp (how?) and were sold forcing the market to unprecedented lows.
2. Stamp has to buy these coins back.
3. Stamp is pulling a potential gox and is insolvent?

What's going on?

what is this bullshit?



nothing is going on. you bulltards had an opportunity to consolidate your lines, transfer cash to buy super cheap coins while stamp is down and all I am seeing are some 4 k coins to 250 $ on bitfinex and a bot that is dumping in 0.8 chunks.

[Phillis]

if bitstamp has to buy 18k coins to cover the hack, that would be quite bullish

[tarmi]

they have like 200 k coins in cold wallet, but I am guessing that bulls are gonna go and try a btc run once bitstamp opens its doors.

I hope that is their plan, cause we all love to short those pumps.

[inca]

they have like 200 k coins in cold wallet, but I am guessing that bulls are gonna go and try a btc run once bitstamp opens its doors.

I hope that is their plan, cause we all love those pumps.

Well with shorts at ATH on finex we could bounce up a fair distance, no?