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

[luckygenough56]

INSIDER SHEET ALWAYS

[ivyleague1985]

Could be jumping the gun here, but is Coinbase down? http://i58.tinypic.com/o5uhbq.png

EDIT: It now reads this: Coinbase is currently offline

No cached version is available.

The most likely causes:

The server is down for maintenance
There may be a network problem
The site may be experiencing excessive load
Retry for a live version of the site

We'll post updates on Twitter if the problem persists

Down here too

Ditto

COINBASE IS BACK ONLINE NOW!

[Eamorr]

Still not back in some regions.

[42t]

Could be jumping the gun here, but is Coinbase down? http://i58.tinypic.com/o5uhbq.png

EDIT: It now reads this: Coinbase is currently offline

No cached version is available.

The most likely causes:

The server is down for maintenance
There may be a network problem
The site may be experiencing excessive load
Retry for a live version of the site

We'll post updates on Twitter if the problem persists

Down here too

Ditto

COINBASE IS BACK ONLINE NOW!

Wonder if that was a DDOS from the same character as before?

[Omikifuse]

Could be jumping the gun here, but is Coinbase down?

EDIT: It now reads this: Coinbase is currently offline

No cached version is available.

The most likely causes:

The server is down for maintenance
There may be a network problem
The site may be experiencing excessive load
Retry for a live version of the site

We'll post updates on Twitter if the problem persists

Down here too

Ditto

COINBASE IS BACK ONLINE NOW!

Sad

Was expecting more cheap coins by panic people

[ivyleague1985]

It is highly likely that the same group hacked the bitstamp and DDOSed the coinbase. To manipulate the price and earn maximum profit, criminals can do anything such as trolling, stealing and hacking.

But the bottomline is: don't offend the national interests of the USA. If some terrorists hacked the nasdaq and NYSE, I assume that the US navy seals will hunt them to death.

Currently, bitcoin is a small cap market and Uncle Sam could't care less about it. But if one day it grows to more than $500 bn large, all the hackers will be sentenced just as terrorists.

[Richy_T]

Have to say I'm surprised I didn't have to tweak the scaling factor between Stamp and Finex. Quite similar market depths there.

I'm impressed by how stable the finex feed is, no more missing data segments, yet.

I wonder if those problems with the stamp feed were some kind of signal or precursor?

Stamp was actually providing data but it was old, out-of-date data and typically the same old, out-of-date data each time. My interpretation is that they had load balancing caches of some kind and one of them was not updating correctly.

I'm not sure what that said about the state of Stamp but given that people use those feeds to trade and it didn't seem to be that high a priority to get it fixed, I have to think it didn't say anything good. I suspect the rapid price rise over the past two years has put some people a little out of their depth rather quickly.

[diabLEEca]

Was expecting more cheap coins by panic people

Aren't they cheap since 600 500 400 300 USD/BTC? 

[BlindMayorBitcorn]

Could be jumping the gun here, but is Coinbase down?

EDIT: It now reads this: Coinbase is currently offline

No cached version is available.

The most likely causes:

The server is down for maintenance
There may be a network problem
The site may be experiencing excessive load
Retry for a live version of the site

We'll post updates on Twitter if the problem persists

Down here too

Ditto

COINBASE IS BACK ONLINE NOW!

Sad

Was expecting more cheap coins by panic people

[shmadz]

Have to say I'm surprised I didn't have to tweak the scaling factor between Stamp and Finex. Quite similar market depths there.

I'm impressed by how stable the finex feed is, no more missing data segments, yet.

I wonder if those problems with the stamp feed were some kind of signal or precursor?

Stamp was actually providing data but it was old, out-of-date data and typically the same old, out-of-date data each time. My interpretation is that they had load balancing caches of some kind and one of them was not updating correctly.

I'm not sure what that said about the state of Stamp but given that people use those feeds to trade and it didn't seem to be that high a priority to get it fixed, I have to think it didn't say anything good. I suspect the rapid price rise over the past two years has put some people a little out of their depth rather quickly.

Thank you for the insight.

[billyjoeallen]

I'm still expecting a plunge to as low as $220, but I'm buying anyway. These prices are just too low to pass up. I just don't think there was enough volume in the bounce off of $255 for it to be a final bottom. Worst case scenario is cascading margin calls that drop us to $200. Unlikely but possible. Ironically Stamp's suspended operations has given me and I suspect others time to pad our margins.  It also halted some panicked people.

A successful retest of $255 where it holds on even higher volume means a very likely end of the bear market, but it's way too soon to call it. Best case scenario is that Coinbase went down due to overwhelming buying. I doubt that's really the case but it's possible. If people really were naked short-selling, then there will be (and possibly is) a scramble to find coins in order to cover.

The least likely scenario is we go straight up from here. If that happens, a lot of short positions will be force liquidated causing a massive spike with a major retracement. If that happens, go margin short as close to the top as you can and then cover on the retracement.

[ChartBuddy]

Bitfinex

Explanation

[42t]

Best case scenario is that Coinbase went down due to overwhelming buying. I doubt that's really the case but it's possible. If people really were naked short-selling, then there will be (and possibly is) a scramble to find coins in order to cover.

Very optimistic, but I had the same thought as well. It's possible, but either way we will probably hear about it in the next 24 hours.

[nicked]

I just logged in. It works for me.

[mrkavasaki]

do you think we could see the $300 again?

[octaft]

do you think we could see the $300 again?

Yes. No guarantee it stays there, though.

[bassclef]

I'm still expecting a plunge to as low as $220, but I'm buying anyway. These prices are just too low to pass up. I just don't think there was enough volume in the bounce off of $255 for it to be a final bottom. Worst case scenario is cascading margin calls that drop us to $200. Unlikely but possible. Ironically Stamp's suspended operations has given me and I suspect others time to pad our margins.  It also halted some panicked people.

A successful retest of $255 where it holds on even higher volume means a very likely end of the bear market, but it's way too soon to call it. Best case scenario is that Coinbase went down due to overwhelming buying. I doubt that's really the case but it's possible. If people really were naked short-selling, then there will be (and possibly is) a scramble to find coins in order to cover.

The least likely scenario is we go straight up from here. If that happens, a lot of short positions will be force liquidated causing a massive spike with a major retracement. If that happens, go margin short as close to the top as you can and then cover on the retracement.

That's not exactly how it would play out. If we retest, it should be on lower volume or it's liable to break through $250.

The away I see it, if we don't get a higher volume follow thru on this swing downward, the trend will continue up.

[Gatekeeper]

Shorts at Bitfinex 23,617.72 BTC

[Miz4r]

Here's my speculation: Bitstamp has lost almost 19k coins and will either have to buy the coins back somehow or go under. I don't think $5M is enough to really make Stamp go out of business so that means 19k coins will be bought. Meanwhile the hacker is also sitting on almost 19k coins but he will probably be looking to sell those coins off-exchange and he may keep a percentage of coins around for later. So the net effect I think will be that the price is going up short term because Stamp is buying to cover their losses and smart speculators will know and front run that. Once all doubt is cleared about Stamp and they are back in business (which I think is very likely) it's probably rally time for a bit and all the shorts will have to watch out for an epic squeeze.

[ChartBuddy]

Bitfinex

Explanation