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

[The_FluffyBunny]

buy buy buy buy

[1714143662]

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[1714143662]

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[1714143662]

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[MinermanNC]

Its the begining of a new time in BTC.

Yep that's the way I see it, the whole crypto world needed a good shake up and hopefully something good is going to emerge from all of this. Not going to speculate that just yet lol

If ya have BTC now,,, Just hold on tight and forget its there.. especially if you bought in significantly higher. Let this play out.  

Or it is a great time to get it while its cheap lol

[Wekkel]

Blood in the streets.
Is anybody going to buy?
I'm a lot of $ down but would anybody recommend buying now?

I've been looking at these chart patterns for years and this is not a trend reversal pattern. It may go up a little but then another wave of selling will bring it back.

Of course the opposite strategy may work: nobody (myself included) thinks this is a good time to buy, which is why it may be.

Well, I'm not sure that a trend reversal is going to happen anymore like it did back in the day, with a sharp high volume bounce and then sudden steady buying.  It could end up being a drift sideways and slightly up for months that finally signals that was the bottom.  Or no reversal at all, just sideways drift for months.

Another thing that has gone on with this downturn is the length of time, the longest in Bitcoin history.  After 14 months of down, even the hardcore bulls are skittish to start buying again.

It will reverse at some point. Sub $10 is nice thinking but not realistic within a short time frame. Nothing goes down in a straight line, so even if we reach $10, it will take some time to get there. I agree that the bottom with most probably be tested once more.

[NotLambchop]

For Emperor Nakamoto!

[AmazonStuff]

I'm sure that it's good that this drop is happening. Drop is caused by large influx of stolen coins (probably from Gox theft) to exchanges. In some way, scammers are returning stolen coins to community. When they are done, community will control those coins and things will be more stable and optimistic, unless some other bitcoin company is hacked, but I'm sure that they got more mature by now.

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[Elwar]

[NotLambchop]

I'm sure that it's good that this drop is happening.

I'm pretty happy, though I'd enjoy this more if the pace picked up a bit.  -15% in 24 hours is pretty meh.

Drop is caused by large influx of stolen coins (probably from Gox theft) to exchanges.

Aha.  Well, we could easily verify this with blockchain, the public ledger.  O wait...

In some way, scammers are returning stolen coins to community.

Sorta.  They're selling you your coins back, so that they could steal them again, rinse, and repeat.

When they are done, community will control those coins and things will be more stable and optimistic, unless some other bitcoin company is hacked, but I'm sure that they got more mature by now.

Yup.  Bitstamp.  Run by a couple of mature-for-their-age Slovenian kids. Hax0rd about a week ago for a few mil.

[ImI]

I'm sure that it's good that this drop is happening. Drop is caused by large influx of stolen coins (probably from Gox theft) to exchanges. In some way, scammers are returning stolen coins to community. When they are done, community will control those coins and things will be more stable and optimistic, unless some other bitcoin company is hacked, but I'm sure that they got more mature by now.

agree, theft is a big issue in this downtrend and resulting crash. nevertheless i am not so sure about exchanges being safer today. only stamp has implemented multisig for example.

[esse83]

I'm sure that it's good that this drop is happening. Drop is caused by large influx of stolen coins (probably from Gox theft) to exchanges. In some way, scammers are returning stolen coins to community. When they are done, community will control those coins and things will be more stable and optimistic, unless some other bitcoin company is hacked, but I'm sure that they got more mature by now.

agree, theft is a big issue in this downtrend and resulting crash. nevertheless i am not so sure about exchanges being safer today. only stamp has implemented multisig for example.

Could it not be also because Gavin warned people to stay away from bitcoin (it's dangerous) and compared it to the dotcom bubble... Just a thought 

[JorgeStolfi]

BTW anyone else suspecting the Chinese exchanges to be almost completely fake? There was just dump, flatline, dump, flatline. The volume was also completely ludicrous.

PBOC should have shut them down a long time ago.

Since the Nov/2013 bubble I saw only two articles where the reporter actually bothered to find out who were the Chinese who created it by buying all those coins.  Not in the bitcoin media, of course. (The most informative one was in the Christian Science Monitor, of all places.)  

The Chinese who have been setting the price of bitcoin were day-trading funny commodities before, as a form of gambling.  They just moved to a new asset that was a lot more volatile, and did not have complicating isssues like quality grades, location, shelf time, etc. (all hail to 'fungibility').

So, my guess is that the Chinese government does not care anymore about what happens on the exchanges, because it is no different than what was happening before bitcoin, with the speculation in those commodities.

The PBoC does not care any more, because bitcoin trading is confined to the exchanges, and cannot interfere with the role of the yuan in e-commece and with the banking and financial sectors -- which is what they care about.  Some other parts of the government were concerned with criminal use of bitcoin, but the exchanges got scared into fully cooperating with the police through AML/KYC.  I believe that they also got a scolding from some other sector of the government about their attempts to market bitcoin to the masses, so they pulled back on that too -- no more sponsoring of bitcoin conferences, and no more open houses featuring the Bitcoin Goddess.

In short, the Chinese government must now be worried about the fairness of bitcoin exchanges to the same degree that they worry about the fairness of the casino tables in Macau.  That is, not at all.

[podyx]

Woke up not too long ago and just wiped the vomit off my mouth........

I did too when I woke up
Atleast I slept while we touched $150 but I suspect we will be going down again in a couple days

[JorgeStolfi]

The one silver lining to this disaster is the the USG ain't gonna get shit for their silk road coins.

And the irony is that they sold only 50'000 of the 145'000 coins in the last auction because they did not want to disturb the market too much.

[Chang Hum]

If you love the technology it doesn't matter what the price in USD because the technology is free  

The big problem is 100000 people bought bitcoins off 10000 people and made them super rich   this incentivised 1000000 to buy the coins off them so their coins 2 da mooned.

Many people didn't stop to consider where the next wave was coming from because they're thick as shit and blind greedy! Kama for suing Zuckerberg Winklevosses he's a business genius you're not

[Torque]

So, my guess is that the Chinese government does not care anymore about what happens on the exchanges, because it is no different than what was happening before bitcoin, with the speculation in those commodities.

The PBoC does not care any more, because bitcoin trading is confined to the exchanges, and cannot interfere with the role of the yuan in e-commece and with the banking and financial sectors -- which is what they care about.  Some other parts of the government were concerned with criminal use of bitcoin, but the exchanges got scared into fully cooperating with the police through AML/KYC.  I believe that they also got a scolding from some other sector of the government about their attempts to market bitcoin to the masses, so they pulled back on that too -- no more sponsoring of bitcoin conferences, and no more open houses featuring the Bitcoin Goddess.

In short, the Chinese government must now be worried about the fairness of bitcoin exchanges to the same degree that they worry about the fairness of the casino tables in Macau.  That is, not at all.

I'm quoting you on this Jorge, and I'm going to completely throw it in your face in the future during the next bubble when the Chinese Govt and the PBoC starts up again with more threats of banning and other such nonsense.  They only care about popping supposed bubbles in their crap shadow Ponzi economy, that is all.

[Walsoraj]

https://xrptalk.org/topic/5092-some-news-from-china-about-the-bitcoin-price-drop/

Firstly，some news maybe are not true，it only flows in the weibo or QQ.（what is weibo or QQ，u can see them as facebook or skype，or log on wikipedia）
 
1、Chinese famous finance investor Duan Hongbin（端宏斌） said that he has selt out all of his bitcoin by his official weibo and invest all money in chinese a stock and Hongkong stock.
2、Chinese famous  finance investor don't issue that he has cleared out his all xrps,From his last xrp holding issue,he can't issue any important topics about his xrps.
3、Some bitcoin investor have submitted the report about Okcoin's illegal future operation to Chinese legal operation depatment.This news flowed from weibo and there are the pictures about the report files.
4、Many people and i suspect that OKCoin and Huobi sell the fake bitcoin in their exchange,their trading volume(about bitcoin future) and real trading data is not corresponding
5、Many Chinese big V（investor holding many coin or cash）have transfer their eyes onto the a stock or Hongkong stock，especially when the Shanghai-Hongkong Stock Connecting  started.And recently Chinese a stock trading volume have surpass the American sum stock trading volume and first reach1000bil CNY.So many money has flowed into the Chinese A stock.
6、Some weibo said that some professional bitcoin investor teams are all short-selling and accumulate the single investors into the investing QQ group.It is like illegal money accumulation.
 
At last: i also want to say WTF Chinese for those bad guys

Some clarification: https://xrptalk.org/topic/5092-some-news-from-china-about-the-bitcoin-price-drop/?p=61839

enrique11, on 13 Jan 2015 - 9:41 PM, said:
That's the interesting part that I don't understand.  What is going on with xrp in all this. From stephanlau's 2 point above it doesn't sound good:
 
"2、Chinese famous  finance investor don't issue that he has cleared out his all xrps,From his last xrp holding issue,he can't issue any important topics about his xrps."
 
This is he weibo
 
http://weibo.com/cha...eibo_s&nick=薛蛮子
 
He didn't say : clear xrp

 

Bump for Jorge's attention.

[JamesBrown]

I'm sure that it's good that this drop is happening. Drop is caused by large influx of stolen coins (probably from Gox theft) to exchanges. In some way, scammers are returning stolen coins to community. When they are done, community will control those coins and things will be more stable and optimistic, unless some other bitcoin company is hacked, but I'm sure that they got more mature by now.

agree, theft is a big issue in this downtrend and resulting crash. nevertheless i am not so sure about exchanges being safer today. only stamp has implemented multisig for example.

Could it not be also because Gavin warned people to stay away from bitcoin (it's dangerous) and compared it to the dotcom bubble... Just a thought 

Someone should tell Gavin to limit his public appearances and stick to CIA meetings.
Its a little like Elon Musk saying TSLA is overvalued "market cap is kinda high right now..." lol

[Small]

Bitcoin price now below 200$
on BTER.com (Chinese Based Exchange)

[Dilla]

What will friday bring.
https://twitter.com/AdamGuerbuez/status/555289659958628352
(guy who twitted about stamp problems 24h before stamp went down...)

Looks like more bad news?

[aztecminer]

Blood in the streets.
Is anybody going to buy?
I'm a lot of $ down but would anybody recommend buying now?

yeah. i am evaluating the bear situation with the USGS as prepare to buy. https://twitter.com/USGS/status/555087405451988992
unfortunately i just got back from california and decided i needed this firebird that was used as an undercover by the LA police dept.
so i wont buy very much cuz i dont have liquidity on hand atm. and because of the threat from polar bears that are being ranked.
probably be more time to buy though cuz they still have to get all the illegal mexicans money in the banks w obama's new 'illegal immigrants get ur money in the bank' cards he is about to issue.
the coins i am about to buy will likely be used to start trading with since my mined coins are hoarded in storage. i am evolving from a miner to a trader.
it's hammer time, blood is in the streets, it's time to buy... imo.