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

[phoenix1]

If this goes on I think it will badly damage confidence and the price will go down down down maybe 47.

I definitely not a good thing for Bitcoin. Not saying the price should crash now as a result, just stating the obvious ... that the unreliability, inadequacy and incompetence of the main exchange is not a good advert and makes them vulnerable.

Be very surprised if some of the 'smart money' sitting on the sidelines at the moment is not seriously considering taking a run at them. TBH after all that has just happened, I think that would probably be the best trade at the moment. And the best thing for Bitcoin.

[phelix]

Stop whining and use another exchange already.

[BitcoinAshley]

What we're seeing here is that the BTC price is no longer directly pegged to MtGox's lag time.

Call it more of a "weighted peg" now... obviously there is some effect, but panic sells are only fun if they happen once in a while - folks have become desensitized to Gox's antics.

We could dip into 0.110ish, due for a decent correction anyhow. But 62 minutes of lag on Gox won't cause a 62 dollar/btc price drop anymore

Newb investor behavior is pretty funny.

[phoenix1]

Stop whining and use another exchange already.

Yeah ... that would look really good for Bitcoin too ... everybody abandoning Gox 

[hackjealousy]

What the heck is going on?  I went to sleep and the price was $125/BTC.  I wake up 6 hours later and the price is $125/BTC!!!!!!

This is madness!


(And just in case: </sarcasm>)

[Xiaoma]

If this goes on I think it will badly damage confidence and the price will go down down down maybe 47.

I definitely not a good thing for Bitcoin. Not saying the price should crash now as a result, just stating the obvious ... that the unreliability, inadequacy and incompetence of the main exchange is not a good advert and makes them vulnerable.

Be very surprised if some of the 'smart money' sitting on the sidelines at the moment is not seriously considering taking a run at them. TBH after all that has just happened, I think that would probably be the best trade at the moment. And the best thing for Bitcoin.

It may be a good business, but is a minefield of strict government regulations, hacker attacks, and being at the mercy of bankers. I know I would never do that business. You can gain, but you can lose it all without notice if some bureaucrat wakes up badly and shuts you down.

[AmazonStuff]

That's because is not updated on bitcoincharts and clark moody almost an hour, on other exchanges BTC is falling :S

[dmiceman]

What the heck is going on?  I went to sleep and the price was $125/BTC.  I wake up 6 hours later and the price is $125/BTC!!!!!!

This is madness!

Nope, sir. It is already 102$ on btc-e, the major (working) BTC exchange.

[just1nmc]

What the heck is going on?  I went to sleep and the price was $125/BTC.  I wake up 6 hours later and the price is $125/BTC!!!!!!

This is madness!

Nope, sir. It is already 102$ on btc-e, the major (working) BTC exchange.

Or $117 on bitstamp. Btc-e has always been way lower than all other exchanges.

[SAQ]

Stop whining and use another exchange already.

What other exchanges are there?!

Btce is infested with java exploit links and its based in russia. Could use Bitstamp but they might be overwhelmed and get their bank account shut just as it happened with bitfloor, bitcoin24.

[AmazonStuff]

This doesn't look good at all on BTC-e 

[phoenix1]

If this goes on I think it will badly damage confidence and the price will go down down down maybe 47.

I definitely not a good thing for Bitcoin. Not saying the price should crash now as a result, just stating the obvious ... that the unreliability, inadequacy and incompetence of the main exchange is not a good advert and makes them vulnerable.

Be very surprised if some of the 'smart money' sitting on the sidelines at the moment is not seriously considering taking a run at them. TBH after all that has just happened, I think that would probably be the best trade at the moment. And the best thing for Bitcoin.

It may be a good business, but is a minefield of strict government regulations, hacker attacks, and being at the mercy of bankers. I know I would never do that business. You can gain, but you can lose it all without notice if some bureaucrat wakes up badly and shuts you down.

I hear you, but without a stable exchange infrastructure, the big bucks are not going to truly flow in, in my opinion

[DougTanner]

LOL, Btc-e.



I guess Gox will follow when it re-opens... *sigh*

[Xiaoma]

Stop whining and use another exchange already.

What other exchanges are there?!

Btce is infested with java exploit links and its based in russia. Could use Bitstamp but they might be overwhelmed and get their bank account shut just as it happened with bitfloor, bitcoin24.

I never ever used mtgox, only bitfloor and bitstamp. More variety is good, but mtgox is just unstable and has a crappy UI so I stick to bitstamp now.

[phoenix1]

Stop whining and use another exchange already.

What other exchanges are there?!

Btce is infested with java exploit links and its based in russia. Could use Bitstamp but they might be overwhelmed and get their bank account shut just as it happened with bitfloor, bitcoin24.

And exactly how safe would you feel with a sizeable balance sitting in a bank in Slovenia, waiting to trade ?
Bitstamp are already unprepared for high volumes of transfers ... when it dumped it took 3 days to get my money in. When things quietened down it was there in less than 24 hours.

[Odalv]

Stop whining and use another exchange already.

+1

[DougTanner]

So is this more blatantly-obvious manipulation? DDOS Gox and then dump on other exchanges? Then let the panic set in.

[Thunderstriker]

UPDATE: This again appears to be another strong DDos attack. We are working hard to overcome it and will update when possible. It's currently 2am in Japan so please forgive us if our Facebook/Twitter updates are not as quick, though the team is certainly not taking any breaks. We're very much looking forward to implementing a much stronger solution very soon and will make an announcement to that effect once it's in place.

https://www.facebook.com/MtGox

[ElectricMucus]

UPDATE: This again appears to be another strong DDos attack. We are working hard to overcome it and will update when possible. It's currently 2am in Japan so please forgive us if our Facebook/Twitter updates are not as quick, though the team is certainly not taking any breaks. We're very much looking forward to implementing a much stronger solution very soon and will make an announcement to that effect once it's in place.

https://www.facebook.com/MtGox

Scott Murphy Stop fucking with our coins
2 · about a minute ago via mobile
Dmitry Morozhnikov A plain lie. It was not look like ddos.
2 · 2 minutes ago

It seems people stop eating the crud.

[Zangelbert Bingledack]

Never a dull day at MtGox HQ. The DDoSers must be milking every last chance before the big exchanges at CoinLab and CoinSetter arrive, and before BitStamp gets bigger. Once there is more than one big exchange, DDoS of any one will have much less effect. Meanwhile the entire system grows stronger every time it is attacked, with the attackers being rewarded for their services in strengthening the system, effectively paving the way for further growth.

Without the attacks that have been occurring at a billion-dollar market cap, Bitcoin wouldn't be ready for the kinds of attacks that will come at ten and a hundred billion dollars.