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

[UltimateReaper]

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

For once I think there is a good chance for the price to downtrend some more, that being said...

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[michaelGedi]

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

not at all, just sick of it being one or the other... but let's stop being so conspiracy theorist...

big VCs risking all that money?? you think they wouldn't have looked into this right?

[Frozenlock]

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

For once I think there is a good chance for the price to downtrend some more, that being said...

Spiked at $116, just saying. 

[samson]

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

I read somewhere else on this forum that Bitpay are probably in the same situation as MtGox with regards to this license.

Risky business, I'd hate to have my funds seized before they made it to a vendor !

[Missionary]

Either I am missing something or my guts are made of steel. Why are everybody acting like this minor bump in the road is so catastrophic?

[Brushan]

I actually think that we're going up. All this shit with MtGox and we only dropped 5%? This shows how stable Bitcoin has become. Imagine this happening a few months ago and what would've happened to the price.

[ElectricMucus]

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

For once I think there is a good chance for the price to downtrend some more, that being said...

Spiked at $116, just saying.  

A far shot from the 125 resistance, futile.

[molecular]

I don't know why everyone is hoping for a DDOS. That's only going to hurt Bitcoins reputation even more, so nobody will take it seriously anymore. It's gonna hurt Bitcoins value in the long run...

Yup, that's what the people want here.
They get extremely excited every time something bad happens to Bitcoin. The more bad the better.
Then they start screaming about cheap coins while high fiving each other.
The lower Bitcoin crashes the more excited the get.
They actually would love to see Bitcoin go completely kaput. Then they can buy 1000's of coins that are worth 10 cents each. They would just love it!

Cheap coins people! Cheap coins!

Well said...

...and yet, these are the same people that make the price less volatile through their actions. Not a high price, but an agreeably steady one is good for bitcoin.

They don't actually want bitcoin kaput, they just get excited because their plan is to sell high and buy low and they're currently at the latter step in that process (albeit that step might also turn out to be "buy higher").

[UltimateReaper]

I seriously wonder how this is going to end up.

Because Bitcoin loves to troll us.

For once I think there is a good chance for the price to downtrend some more, that being said...

Spiked at $116, just saying.  

A far shot from the 125 resistance, futile.

It seems like bulls never give up. They might be right, but I've been thinking downtrend for a while now, but this is the first time enough things have gone wrong for me to really have a bit more confidence in that belief.

[crazy_rabbit]

Either I am missing something or my guts are made of steel. Why are everybody acting like this minor bump in the road is so catastrophic?

I, and I think the market, agree with you. We are still over $100. Had this been a few months ago the price would have cratered so hard people would be paying you to buy their bitcoins.

I personally can't care less. It's exciting from one point of view if only because we need to be forced off decentralising our exchanges.

[crumbcake]

Either I am missing something or my guts are made of steel. Why are everybody acting like this minor bump in the road is so catastrophic?

It wasn't a bump in the road -- I think we just ran over somebody.  Should we go check?

[michaelGedi]

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

I read somewhere else on this forum that Bitpay are probably in the same situation as MtGox with regards to this license.

Risky business, I'd hate to have my funds seized before they made it to a vendor !

source or that's just FUD/rumour...

the mtgox issue is very specific

[crumbcake]

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

I read somewhere else on this forum that Bitpay are probably in the same situation as MtGox with regards to this license.

Risky business, I'd hate to have my funds seized before they made it to a vendor !

source or that's just FUD/rumour...

the mtgox issue is very specific

Sorry, i know you're a serious guy & hate off-topic stuff in this thread, but there's not much to watch right now & I'll give you a bit of well-sourced FUD:
"Is Bitcoin a Ponzi scheme?
In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee."

Guess who's spreading this FUD?  That's right, https://en.bitcoin.it/wiki/FAQ, the Bitcoin WIKI

[michaelGedi]

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

I read somewhere else on this forum that Bitpay are probably in the same situation as MtGox with regards to this license.

Risky business, I'd hate to have my funds seized before they made it to a vendor !

source or that's just FUD/rumour...

the mtgox issue is very specific

Sorry, i know you're a serious guy & hate off-topic stuff in this thread, but there's not much to watch right now & I'll give you a bit of well-sourced FUD:
"Is Bitcoin a Ponzi scheme?
In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee."

Guess who's spreading this FUD?  That's right, https://en.bitcoin.it/wiki/FAQ, the Bitcoin WIKI

gosh I hope I at least help someone profit!

[ChartBuddy]

[fr33d0miz3r]

I think buying BTC to leave mtgox is not a good idea. You may lose some fiat while you transfer BTC to another exchange.
Just use AurumXchange to instantly transfer your USD from Mtgox to Liberty Reserve (or some other payment system)

[MAbtc]

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

not at all, just sick of it being one or the other... but let's stop being so conspiracy theorist...

big VCs risking all that money?? you think they wouldn't have looked into this right?

They can't predict the future. VCs have dropped virtually nil into bitcoin. Complete drop-in-the-bucket, easy exit shit. I don't understand why people think "all this money" is being invested. It isn't. Investing 6 figures, or a few million, is a cheap price to pay if the future turns sour.

[Ultraviolet]

They can't predict the future. VCs have dropped virtually nil into bitcoin. Complete drop-in-the-bucket, easy exit shit. I don't understand why people think "all this money" is being invested. It isn't. Investing 6 figures, or a few million, is a cheap price to pay if the future turns sour.

5 Mega into Coinbase wasn't too shabby honestly.

[Pale Phoenix]

They can't predict the future. VCs have dropped virtually nil into bitcoin. Complete drop-in-the-bucket, easy exit shit. I don't understand why people think "all this money" is being invested. It isn't. Investing 6 figures, or a few million, is a cheap price to pay if the future turns sour.

I think the point is that there are serious people outside of the Bitcoin community investing, or talking about investing, which for most people, lends an aura of legitimacy and the promise of widespread adoption.

There's no question that VC's make mistakes, in fact, that's part of the business model. But compared to the sophistication of the average investor in the BitcoinTalk securities marketplace, I'd say this new money can rightfully be called smart money.

[michaelGedi]

if you're going to offer up 15million, you're going to do some homework...

the legitamising of bitcoin is already on the agenda for these investors