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

[hdbuck]

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[savetherainforest]

Keep dreaming... We are going straight to 700$ ... then slowly to £1000-1300£ ... $1000-1300$.

[becoin]

What if Bitfinex lied for a profit? I just can't believe so many security locks have been breached. Military-style planning is needed to perform such a diverse attack.

[empowering]

Security breach vs Hack?

Inside job?


Occam's razor seems to cut in that direction

[Meuh6879]

the thing is ... with bitcoins, steal is a circle.

they steal, they spend (on others exchanges).






good.

[empowering]

Also curious as to how the brakes were not put on this waaaaaaaaayyyy before $65-$75 million in losses occurred....between Finexed and BitGone , neither of them had any form of monitoring for such volume (withdraws/transactions/signatures)  in such a short time span?


<That fkin change from the Coldwallet - nice one CFTC>

Eitherway

BitGo- REALLY?

Finex - REALLY?

REALLY?

[Meuh6879]

$150k worth of bitcoins from the sale of my house and put it on Bitfinex

you trade, you pay the price.



Deal with it.

[Tzupy]

Yes, it's a DCB. To complete the correction, one more leg down, of lower amplitude, is required.

[empowering]

?

[Torque]

Price is rising, hashrate returning to higher levels.

Feel like we'll be back in the 600's soon, perhaps today.

[soullyG]

Also curious as to how the brakes were not put on this waaaaaaaaayyyy before $65-$75 million in losses occurred....between Finexed and BitGone , neither of them had any form of monitoring for such volume (withdraws/transactions/signatures)  in such a short time span?


<That fkin change from the Coldwallet - nice one CFTC>

Eitherway

BitGo- REALLY?

Finex - REALLY?

REALLY?

Amateur hour

[K~Ehleyr]

The price is climbing quite fast now, presumably because lots of people are buying while the price is low.  But do we really think that's the end of it, a quick dip in price, fast recovery and job done?  I hope I'm not being silly by waiting to see what Binfinex say about their plans for going forward before I jump on the buy-in bandwagon.  If I've missed the chance to buy at $550 I'll kick myself.  But I can't help feeling there's another drop ahead.  Such a shock to the markets surely can't be recovered from so quickly, can it?

[ImI]

it can

[Torque]

What if Bitfinex lied for a profit? I just can't believe so many security locks have been breached. Military-style planning is needed to perform such a diverse attack.

What if they had been insolvent for quite a while now, essentially running a Ponzi, and this was all just an elaborate cover story for their final demise?

[rezilient]

$150k worth of bitcoins from the sale of my house and put it on Bitfinex

you trade, you pay the price.

Maybe not snip the part where he clearly states, he was going to not that he did.

[Paashaas]

Yes, it's a DCB. To complete the correction, one more leg down, of lower amplitude, is required.

Weard, when i zoom out it looks like a very healthy correction but i wonder if this Finex hack was needed to get there. This is not the first time when the price model acts like the ''traditional'' way when shit hits the fan.

[Ted E. Bare]

Ok, let's resume our journey to a new all time high.

[paratox]

The price is climbing quite fast now, presumably because lots of people are buying while the price is low.  But do we really think that's the end of it, a quick dip in price, fast recovery and job done?  I hope I'm not being silly by waiting to see what Binfinex say about their plans for going forward before I jump on the buy-in bandwagon.  If I've missed the chance to buy at $550 I'll kick myself.  But I can't help feeling there's another drop ahead.  Such a shock to the markets surely can't be recovered from so quickly, can it?

Why not? Past events have shown that exchange hacks bigger than this didn't kill bitcoin. Why should there be a prolonged downtrend? I don't think the stolen coins will be sold on other exchanges (that matter in terms of volume) due to chain-analysis and blacklisting. The hackers may be satisfied with the profit they made due to market manipulation.

Let's see, it may be just a dead cat bounce, but I guess it may be the start of a new uptrend unfolding. Rising above 600 in the next few days(or weeks) could give the people a lot of confidence in the resilience of bitcoin, which may spark the next big rally.

[Elwar]

That's why I wish I could buy right now. 195k bitcoins are now gone from the exchange. They will likely not be spent or cashed out for years due to so many eyes on those coins. I can see the address where my bitcoins are sitting.

So...all of those bitcoin traders from BitFinex will need to get more bitcoins with smaller supply.


As far as BitGo...from what I could tell on reddit, there were two setups. People who verified their identities and had a BitGo setup. And the rest who did not go through verification and had some other setup. I did not do any of that verification.

[Elwar]

That's why I wish I could buy right now. 195k bitcoins are now gone from the exchange. They will likely not be spent or cashed out for years due to so many eyes on those coins. I can see the address where my bitcoins are sitting.

So...all of those bitcoin traders from BitFinex will need to get more bitcoins with smaller supply.

I'm sure. That's exactly what happened after the Goxxening. People went right out to buy more BTC (because their was gone, much like yours is), rocketing BTC price to the moon

The "stolen" BTC was gone long before Gox was "hacked". Already spent on Lattes and exercise balls.