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

[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.

Are the addresses of the 200k Gox coins to be distributed known? Is it possible that some have already been liquidated?

Good question, I'd be interested in that as well. I think they're known and some people tracked down even some coins priorly unknown even to Gox. I think liquidating them prematurely would be a stupid and possibly illegal/problematic thing to do, but I'm no expert in Japanese law!

[macsga]

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.

Are the addresses of the 200k Gox coins to be distributed known? Is it possible that some have already been liquidated?

This will require the claim process to be over (Sept. 9) and then the people involved will judge which are eligible to receive funds and which are not. The official word from the Kraken CEO on reddit though specifies that no more than 20% should be expected (fiat & BTC). Better from nothing, but still...

Don't expect those 200k will be dumped after receival. Most users (including myself) won't bother at all or just add them to their cold wallets. The fraction of coins traded though will be rather difficult not to be a moving factor for the price. This is far away on my chart though. For now the mini pump seems to be over btw... Pity...

[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.

Are the addresses of the 200k Gox coins to be distributed known? Is it possible that some have already been liquidated?

This will require the claim process to be over (Sept. 9) and then the people involved will judge which are eligible to receive funds and which are not. The official word from the Kraken CEO on reddit though specifies that no more than 20% should be expected (fiat & BTC). Better from nothing, but still...

Yeah I think 20% is a quite reasonable number. I know, it doesn't sound like much, but it's better than receiving nothing. The guy running BitcoinBuilder was offering to buy back some goxcoins a couple months ago. What was his rate, again?...

[billyjoeallen]

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

I'm guessing $238.99 was the top because I have a sell order at $239 

[damiano]

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

I doubt it as well.

We just barely got near 240 and giant walls just came up and it looks like it was a nice opportunity for a few shorts to open up.

[noobtrader]

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

I'm guessing $238.99 was the top because I have a sell order at $239 

why? are you turning into a bear

[madmat]

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

I'm guessing $238.99 was the top because I have a sell order at $239 

You should avoid round numbers for your orders.

[billyjoeallen]

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

I'm guessing $238.99 was the top because I have a sell order at $239 

why? are you turning into a bear

Hell no. I'm just trying to do a little profit taking. Punishing volatility means you sell when it goes up TOO FAST. I reinvest the profits during the dips.

[billyjoeallen]

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

I'm guessing $238.99 was the top because I have a sell order at $239 

You should avoid round numbers for your orders.

It wouldn't have helped this time because it would have been a higher sell order by a few cents and not lower, but you're right.

[madmat]

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

I'm guessing $238.99 was the top because I have a sell order at $239 

You should avoid round numbers for your orders.

It wouldn't have helped this time because it would have been a higher sell order by a few cents and not lower, but you're right.

Sell orders should be set just under round price, not the opposite.

[ChartBuddy]

Coin
Explanation

[gizmoh]

Finex having a hard time following chinese exchanges.

Are Grand-mas back to bitcoin land?

[LOBSTER]

It seems as the price will rise now. The bulls are coming. Get ready to rumble!

[JimboToronto]

Good morning Bitcoinland.

Still over $230 I see. Maybe we'll stay there despite the inevitable correction/retracement after yesterday's small rise.

Profits are bound to be taken but the market seems less prone to panicking on any dump.

Must... grind... beans...

Mmmm.

[Cassius]

Anyone else think it's suspicious that the Gox lawyer is called Kobayashi, just like in The Usual Suspects? Pretty sure no good can come of this.

[Fatman3001]

Anyone else think it's suspicious that the Gox lawyer is called Kobayashi, just like in The Usual Suspects? Pretty sure no good can come of this.

I was thinking of Kobayashi Maru.

http://en.wikipedia.org/wiki/Kobayashi_Maru

[billyjoeallen]

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

I'm guessing $238.99 was the top because I have a sell order at $239 

You should avoid round numbers for your orders.

It wouldn't have helped this time because it would have been a higher sell order by a few cents and not lower, but you're right.

Sell orders should be set just under round price, not the opposite.

I mean it would have been something like 239.97. Besides, if everybody does it it won't work.

[billyjoeallen]

Finex having a hard time following chinese exchanges.

Are Grand-mas back to bitcoin land?

There's very few retail traders left in China. They don't have nearly the influence they used to have. China is more likely to follow western exchanges now than the other way around. (Unless you consider BFX Chinese, which I don't. )

[JorgeStolfi]

Anyone else think it's suspicious that the Gox lawyer is called Kobayashi, just like in The Usual Suspects? Pretty sure no good can come of this.

I was thinking of Kobayashi Maru.
http://en.wikipedia.org/wiki/Kobayashi_Maru

Kobayashi is a very common Japanese surname; I had a colleague with it.

Anyone finds it suspicious that the Coinbase CEO is Armstrong, like the first man to step on the moon? 

[kevindurant]

Where is the pump?

I only see a few dollars rise, and prices right now are around 227

Just wait for Monday. You can't see big pumps at weekends.

Told ya.