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

[Torque]

Tokyo judge says "You cant own a bitcoin...."

http://www.coindesk.com/tokyo-court-bitcoin-not-subject-to-ownership-2/

According to [this reddit comment](https://www.reddit.com/r/Bitcoin/comments/3fztzt/tokyo_court_bitcoin_not_subject_to_ownership/cttk8f8), the ruling was probably mangled by going through two reporters who did not quite understand it, with a Japanese-to-English translation to boot. 

That guy's explanation seems to make sense: what the judge probably ruled is that bitcoins are fungible, so that plaintiff cannot claim ownership of certain particular 458 bitcoins that are in the MtGOX estate, or even of 485 generic bitcoins.  The plaintiff can only lay a claim to the value of those bitcoins, according to some etablished price.  Therefoer the trustee could continue the normal process of gathering all assets and all claims, converting all to JPY, and dividing the former proportionally to the latter

Translation:  Punt until bitcoin price goes up, then pay out fiat a fraction of the  former exchange rate value of those coins at the time when Mt. Gox collapsed.  Pure genius way to fk over the claimants.

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[ChartBuddy]

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Explanation

[macsga]

Tokyo judge says "You cant own a bitcoin...."

http://www.coindesk.com/tokyo-court-bitcoin-not-subject-to-ownership-2/

According to [this reddit comment](https://www.reddit.com/r/Bitcoin/comments/3fztzt/tokyo_court_bitcoin_not_subject_to_ownership/cttk8f8), the ruling was probably mangled by going through two reporters who did not quite understand it, with a Japanese-to-English translation to boot. 

That guy's explanation seems to make sense: what the judge probably ruled is that bitcoins are fungible, so that plaintiff cannot claim ownership of certain particular 458 bitcoins that are in the MtGOX estate, or even of 485 generic bitcoins.  The plaintiff can only lay a claim to the value of those bitcoins, according to some etablished price.  Therefoer the trustee could continue the normal process of gathering all assets and all claims, converting all to JPY, and dividing the former proportionally to the latter

Translation:  Punt until bitcoin price goes up, then pay out fiat a fraction of the  former exchange rate value of those coins at the time when Mt. Gox collapsed.  Pure genius way to fk over the claimants.

Converting them to JPY could also lead the price of BTC down (because of their size). I'd expect an *evaluation* in JPY and (as we filled into the claim procedure) choose what we want to have (BTC/Fiat). Of course this is only wishful thinking...

[ChartBuddy]

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Explanation

[inca]

Time for us to move up..

[BitofaN1]

Hmm... That's a weird looking 8.4k volume spike on Houbi.

[dakota neat]

Time for us to move up..

 

[Topbanker]

[ChartBuddy]

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Explanation

[Fakhoury]

Time for us to move up..

Why Inca ?

[rememberme]

Because i am the bull remember? 

[Gyrsur]

because of 38.2 % fibo retracement level and double bottom 1h chart bitstamp.

[inca]

Just a feeling Fakhoury.

Since the downtrend was broken the market is behaving differently. We are basing here and each successive repulsion of 270 means another retest of 300 is more likely. We are still in a bullish upmove and a breakout from this latest triangle - if up - should definitively break 300. Whilst we remain in the triangle all moves are noise.

Furthermore, there is no build up of speculative shorting, despite extremely low borrowing rates for btc to be lent out and sold into the open market. The reason for this is that market participants do not want to risk leveraged selling into this market because no one believes the price will crash and those that did were wiped out with repeated price surges from 219 to 316. Also, even though the orderbook is a mirage of true supply and demand, it is supporting the price and is superficially incredibly bullish.

Remember the halving isn't far away. Ignore the trolls and keep your position.

[inca]

In a way it is a shame that most of the bears got caught short in this upswing. We have lost the balance of a bearish perspective and been left with just bulls and vapid trolling.

Bitcoin may be entering the 2012-like graveyard recovery, boring it's way to a bull market.

[ChartBuddy]

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Explanation

[Gyrsur]

have the impression the forum becomes more and more attractive for guys which are working in financial institutes since the financial industrie fall in love with the blockchain. if I were they I would also troll the enemy.

[Fakhoury]

Just a feeling Fakhoury.

Since the downtrend was broken the market is behaving differently. We are basing here and each successive repulsion of 270 means another retest of 300 is more likely. We are still in a bullish upmove and a breakout from this latest triangle - if up - should definitively break 300. Whilst we remain in the triangle all moves are noise.

Furthermore, there is no build up of speculative shorting, despite extremely low borrowing rates for btc to be lent out and sold into the open market. The reason for this is that market participants do not want to risk leveraged selling into this market because no one believes the price will crash and those that did were wiped out with repeated price surges from 219 to 316. Also, even though the orderbook is a mirage of true supply and demand, it is supporting the price and is superficially incredibly bullish.

Remember the halving isn't far away. Ignore the trolls and keep your position.

Thank you Inca, Gyrsur and rememberme for elaboration.

Don't worry Inca, I don't know if you know yet or not, I'm long-term holder and I will NEVER change my position, I just like to keep motivated and understanding, from you specially

[Meuh6879]

not take many time now ... http://www.zerohedge.com/news/2015-08-06/economy-probably-sucks-if

[sAt0sHiFanClub]

have the impression the forum becomes more and more attractive for guys which are working in financial institutes since the financial industrie fall in love with the blockchain. if I were they I would also troll the enemy.

If they are then its purely as a source for witty dinner party anecdotes.

[ChartBuddy]

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Explanation