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

[gentlemand]

This is not a faulting of Bitcoin itself, but people might not feel very confident putting any money on any exchange if Bitfinex could be hacked.

Bitfinex proved nothing. Bitfinex guaranteed nothing. Their ownership is murky. They answer to no regulator. It's rather hard to figure out what country they're in. There is no insurance. One of their main men stated that he traded on his own exchange.

I can't see any fundamental difference between Bitfinex and Gox apart from them making more of the right noises and putting up a more 'professional' facade. They did not deserve or justify anyone's money or trust.

[BathSaltsDealer]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

[Elwar]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

Once you have bitcoins you shouldn't need to go back to the fiat system and all the problems that come with it.

[BathSaltsDealer]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

Once you have bitcoins you shouldn't need to go back to the fiat system and all the problems that come with it.

Bitfinex provides a platform for people wishing to trade fiat for BTC and vice versa. That's what it does.

Saying that finex's "problems tend to come from the interactions with the fiat system" is like saying that a boat's problem come from the interactions with water.

[Elwar]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

Once you have bitcoins you shouldn't need to go back to the fiat system and all the problems that come with it.

Bitfinex provides a platform for people wishing to trade fiat for BTC and vice versa. That's what it does.

Saying that finex's "problems tend to come from the interactions with the fiat system" is like saying that a boat's problem come from the interactions with water.

That would be true if that's what I said.

[NewbieTreider]

Bitfinex provides a platform for people wishing to trade fiat for BTC and vice versa. That's what it does.

Saying that finex's "problems tend to come from the interactions with the fiat system" is like saying that a boat's problem come from the interactions with water.

And provides a wonderfull security system with an incredible insurance for their users.

Sorry, but after lose my money there, I need to be ironic.

[BathSaltsDealer]

When it comes down to it, most of Bitcoin's problems tend to come from the interactions with the fiat system.

~$70 million of their problems came from their oh-so-clever 2-of-3 wallet implementation.
If not for "the fiat system" they wouldn't have a business (which, as I understand it, is exchanging BTC into fiat and back again).

Once you have bitcoins you shouldn't need to go back to the fiat system and all the problems that come with it.

Bitfinex provides a platform for people wishing to trade fiat for BTC and vice versa. That's what it does.

Saying that finex's "problems tend to come from the interactions with the fiat system" is like saying that a boat's problem come from the interactions with water.

That would be true if that's what I said.

Ah, my mistake, apologies. Assumed we were talking about finex.

You're right, most of Bitcoin's problem do come from interacting with fiat. Since that's what it is mainly used for (trading), that's a boatload of problems.

[XCASH]

This is not a faulting of Bitcoin itself, but people might not feel very confident putting any money on any exchange if Bitfinex could be hacked.

Bitfinex proved nothing. Bitfinex guaranteed nothing. Their ownership is murky. They answer to no regulator. It's rather hard to figure out what country they're in. There is no insurance. One of their main men stated that he traded on his own exchange.

I can't see any fundamental difference between Bitfinex and Gox apart from them making more of the right noises and putting up a more 'professional' facade. They did not deserve or justify anyone's money or trust.

It's code was based in Bitcoinica's code, and Bitcoinica was hacked. Bitfinex's code was so bad it had well known serious bugs, like hitting buttons multiple times led to unexpected behaviour. I never traded on Gox but I read its code also had serious bugs. Moreover, Gox froze trading a number of times like Bitfinex. There were warning signs both exchanges had serious problems for years before they said they'd had massive hacks.

[kobilica]

Panic buy has begun? 

[kobilica]

Though selling pressure still higher on buying on most exchanges, something has triggered this.

15 minute candle chart shows mean reversal, possibly bots started to buy again.

[XCASH]

Though selling pressure still higher on buying on most exchanges, something has triggered this.

15 minute candle chart shows mean reversal, possibly bots started to buy again.

Bitstamp just took over from Bitfinex as the highest volume exchange for USD/BTC. It's strange how Bitstamp took the lead at the same time a reversal started up. Maybe it's just coincidence, or maybe not.

[kobilica]

People are tired of trading on BitFinex it seems.
Also BitStamp just started doing more for security (trezor wallet) 

[savetherainforest]

Panic buy has begun?  

Yep.      



Like I always predicted ... Up! Up! Up!   ...  

[JimboToronto]

Good morning Bitcoinland.

$580 on BitcoinAverage. That pretty much corrects the small dip of the last 2 days.

Back to sideways?

[noobtrader]

Good morning Bitcoinland.

$580 on BitcoinAverage. That pretty much corrects the small dip of the last 2 days.

Back to sideways?

nonsense... teh NSA will buy alot of coin soon... 1000 usd soon 

[kobilica]

NSA won't buy coins, this is pure non sense. 1 million bitcoins? Are you for real.

What we are experiencing, just maybe is return of optimism and effect of halving. Mining difficulty has reached all times high, remember?

[LFC_Bitcoin]

NSA won't buy coins, this is pure non sense. 1 million bitcoins? Are you for real.

What we are experiencing, just maybe is return of optimism and effect of halving. Mining difficulty has reached all times high, remember?

Return of optimism I think, we won't experience the true effects of the halving for a little while yet.

[Torque]

Welp, you guys are essentially guaranteed a pump for the next 6 days. 

Buy now and enjoy the ride.

http://bitcoin-news.online/us-authorities-sell-1-6-million-bitcoin/#.V7IKaa3TQJY.reddit

[kobilica]

How can 1.6 millions $ or 2700 BTC affect the market?  This ammount of volume is traded in one minute on big exchanges  

[gentlemand]

NSA won't buy coins, this is pure non sense. 1 million bitcoins? Are you for real.

What we are experiencing, just maybe is return of optimism and effect of halving. Mining difficulty has reached all times high, remember?

Don't forget they already have 1 million coins because they created Bitcoin. I think they'd probably want a better reason to part with them, though. Like a really enormous pile of weed.