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

[ChartBuddy]

Coin
Explanation

[macsga]

I believe that the current pump has to do with MtGox withdrawal process. Here's more info: https://bitcointalk.org/index.php?topic=179586.msg11161910#msg11161910

Holy schmokes! The ungoxxing is happening    So Sept 9th when people receive their funds, is everyone going to cash out, or will they do the free tradining? Should be interesting to see how this plays out.

Love Kraken. Do they even know what they're getting into? J/k they'll use it all as marketing.

I'd definitely wouldn't care trading; but in the case of Kraken if they grant me with a nice amount as promised for letting them claim my funds; well... I'll be seriously tempted. Most of us thought that this was a lost case, so what the heck?

Of course they know where they're getting into!!! It's a very nice opportunity to become the next MtGox (customer wise)...

[JorgeStolfi]

Are refunds being made in BTC or USD? Haven't been following the Gox thing lately.

In the documents posted yesterday, Kobayashi says that he is still looking into the possibility of returning the BTC as BTC, but he does not know whether it will be possible or sensible.  In any case, BTC claims will be converted to JPY at a specified rate, and the amount awarded will be expressed in JPY, even if it gets paid out as BTC.

[ensurance982]

Did not expect to see old Gox coins coming back.  Hopefully those folks that lost a lot can get something back at least.

I'm sure they will and have an idea, otherwise they wouldn't come back

Are refunds being made in BTC or USD? Haven't been following the Gox thing lately.

I think they're distributing everything that they can liquidate but decided on paying the coins as coins and not sell them for FIAT. If I remember correctly you can choose your preferred way of getting your coins back when you file your request with Kraken!

[JorgeStolfi]

I'd definitely wouldn't care trading; but in the case of Kraken if they grant me with a nice amount as promised for letting them claim my funds

I understood that they only give you an exemption from trading fees, not an actual reward.  Isn't that so?

[atlosas]

Here is the email i got from Kraken


Kraken <noreply@kraken.com> Unsubscribe
8:27 AM (9 hours ago)

to me
 Submit your MtGox claim
Hi XXXX,
As announced in our November blog post, Kraken was selected by the MtGox trustee after extensive and objective review to assist MtGox creditors in investigating missing Bitcoin, filing claims, and distributing remaining assets.
We are pleased to announce that Kraken is now accepting MtGox creditor claims and offering up to $1 million in free trade volume per creditor as a bonus for claiming funds through Kraken. The claim and payout service through Kraken is available in all areas of operation, including all US states. If you have a claim to file, you can get started by clicking the button below, logging in to your account, and following the instructions under the “MtGox Claim” tab.
Creditors claiming funds with Kraken can expect the following benefits:
100,000 KFEE credits redeemable for up to $1 million in free trading volume at the lowest fee tier of 0.1%
Creditor claim and payout support with live chat and email
Option to receive funds in the form of Bitcoin
An easier and more convenient process from claim to payout
Claim MtGox Funds
We look forward to helping MtGox creditors with their claims and hope they enjoy our free trade offer. Click the button below to read more about this exciting announcement.
MtGox Claim Blog Post
Thank you for choosing Kraken Bitcoin Exchange.
The Kraken Team

[noobtrader]

Did not expect to see old Gox coins coming back.  Hopefully those folks that lost a lot can get something back at least.

I'm sure they will and have an idea, otherwise they wouldn't come back

Are refunds being made in BTC or USD? Haven't been following the Gox thing lately.

I think they're distributing everything that they can liquidate but decided on paying the coins as coins and not sell them for FIAT. If I remember correctly you can choose your preferred way of getting your coins back when you file your request with Kraken!

is that mean that kraken will buy a lot of coin to pay back gox's customer

omg... omg... bear quick buy back your coin before its too late  

[atlosas]

No, Kraken will give mtgox coins + additionally if u use them to get your coins u get fees discounts. There are 200k or smth coins left on gox which will be distributed.

[JorgeStolfi]

I think they're distributing everything that they can liquidate but decided on paying the coins as coins and not sell them for FIAT. If I remember correctly you can choose your preferred way of getting your coins back when you file your request with Kraken!

That is just a survey for now. If and when Kobayashi is ready to distribute the spoils, he may ask for real whether you want BTC or JPY; but he does not know yet whether that will be possible.  That's what I got from the FAQ he posted.

[findftp]

Did not expect to see old Gox coins coming back.  Hopefully those folks that lost a lot can get something back at least.

I'm sure they will and have an idea, otherwise they wouldn't come back

Are refunds being made in BTC or USD? Haven't been following the Gox thing lately.

I think they're distributing everything that they can liquidate but decided on paying the coins as coins and not sell them for FIAT. If I remember correctly you can choose your preferred way of getting your coins back when you file your request with Kraken!

is that mean that kraken will buy a lot of coin to pay back gox's customer

omg... omg... bear quick buy back your coin before its too late  

They have a very tiny orderbook.
Some panic buying will send this thing to the moon.

[DutchTrades]

Round 2

[Dilla]

Round 2

We're knocking on $240, we'll see if we can breach it, next stop $260s, if we breach that, 300s!

[damiano]

5k ask at 240

[ChartBuddy]

Coin
Explanation

[Ezmoneyezlife]

5k ask at 240

Ofc, cos this pump is just a weak attempt to force short cancelling before sub 200$ retesting, no news, just chinese bots having fun as usual.

[nioc]

I voted $260 on the poll based on nothing but feel as usual.

I looked at my purchases for the last 5-6 weeks and boy do little nibbles add up.  So I say to myself that is it for now.  Nobody listens to me including myself and I just nibbled @235.  It seems we are going up at least for a short while.

[macsga]

I'd definitely wouldn't care trading; but in the case of Kraken if they grant me with a nice amount as promised for letting them claim my funds

I understood that they only give you an exemption from trading fees, not an actual reward.  Isn't that so?

I don't know for sure; I believe they will tend to follow the trading "shares" paradigm from which the creditors can "boost" their credit as a "gift" for their trust. I can't really say.

DutchTrades:
Yes; it was expected today. I think that I've read somewhere that "It will be a very steep way up" if it starts for real. I think I've mentioned a lot of times that any upcoming rally should have the MtGox parameter inside it. We're in the middle of a transition here with (possibly) Kraken taking that role. It's not a coincidence, it was expected. Let's see if they can handle the load. Let's hope they can. They bought the whole infrastructure from MtGox.

Now all they need is their customers.

[ensurance982]

Did not expect to see old Gox coins coming back.  Hopefully those folks that lost a lot can get something back at least.

I'm sure they will and have an idea, otherwise they wouldn't come back

Are refunds being made in BTC or USD? Haven't been following the Gox thing lately.

I think they're distributing everything that they can liquidate but decided on paying the coins as coins and not sell them for FIAT. If I remember correctly you can choose your preferred way of getting your coins back when you file your request with Kraken!

is that mean that kraken will buy a lot of coin to pay back gox's customer

omg... omg... bear quick buy back your coin before its too late  

I guess it's too early to draw any conclusions on how this is going to affect the price. Some bears currently claim that 200k BTC will be dumped on the market (which I don't believe is going to happen) but still, this would throw us back into 2011 price-wise. The final goxxing, so to say...

[ensurance982]

I think they're distributing everything that they can liquidate but decided on paying the coins as coins and not sell them for FIAT. If I remember correctly you can choose your preferred way of getting your coins back when you file your request with Kraken!

That is just a survey for now. If and when Kobayashi is ready to distribute the spoils, he may ask for real whether you want BTC or JPY; but he does not know yet whether that will be possible.  That's what I got from the FAQ he posted.

Ah, alright... Good to get some clarification. What about people who held FIAT money on Gox, or people whose USD wires weren't even credited on the site just before it went black? What should they do?

[luckygenough56]

i would be surprised if this goes above 255 before next dump